Brazilian architect Oscar Niemeyer dies, aged 104

RIO DE JANEIRO (Reuters) – Oscar Niemeyer, a towering patriarch of modern architecture who shaped the look of modern Brazil and whose inventive, curved designs left their mark on cities worldwide, died late on Wednesday. He was 104.

Niemeyer had been battling kidney ailments and pneumonia for nearly a month in a Rio de Janeiro hospital. His death was confirmed by a hospital spokesperson.

Starting in the 1930s, Niemeyer’s career spanned nine decades. His distinctive glass and white-concrete buildings include such landmarks as the United Nations Secretariat in New York, the Communist Party headquarters in Paris and the Roman Catholic Cathedral in Brasilia.

He won the 1988 Pritzker Architecture Prize, considered the “Nobel Prize of Architecture” for the Brasilia cathedral. Its “Crown of Thorns” cupola fills the church with light and a sense of soaring grandeur despite the fact that most of the building is underground.

It was one of dozens of public structures he designed for Brazil’s made-to-order capital, a city that helped define “space-age” style.

After flying over Niemeyer’s pod-like Congress, futuristic presidential palace and modular ministries in 1961, Yuri Gagarin, the Russian cosmonaut and first man in space, said “the impression was like arriving on another planet.”

In his home city of Rio de Janeiro, Niemeyer’s many projects include the “Sambadrome” stadium for Carnival parades. Perched across the bay from Rio is the “flying saucer” he designed for the Niteroi Museum of Contemporary Art.

The collection of government buildings in Brasilia, though, remain his most monumental and enduring achievement. Built from scratch in a wild and nearly uninhabited part of Brazil’s remote central plateau in just four years, it opened in 1960.

While the airplane-shaped city was planned and laid out by Niemeyer’s friend Lucio Costa, Niemeyer designed nearly every important government building in the city.

BECAME NATIONAL ICON

An ardent communist who continued working from his Copacabana beach penthouse apartment in Rio until days before his death, Niemeyer became a national icon ranking alongside Bossa Nova pioneer Tom Jobim and soccer legend Pelé.

His architecture, though, regularly trumped his politics.

Georges Pompidou, a right-wing Gaullist former French president, said Niemeyer’s design for the Communist Party of France headquarters in Paris “was the only good thing those commies ever did,” according to Niemeyer’s memoirs.

Prada, the fashion company known for providing expensive bags and wallets, thought the Communist Party building in Paris so cool it rented it for a fashion show.

Even the 1964-1985 Brazilian military government that forced Niemeyer into exile in the 1960s eventually found his buildings congenial to their dreams of making Brazil “the country of the future.”

His work is celebrated for innovative use of light and space, experimentation with reinforced concrete for aesthetic value and his self-described “architectural invention” style that produced buildings resembling abstract sculpture.

Initially influenced by the angular modernism of French-Swiss architect Le Cobusier, who worked with Niemeyer and Costa on a visit to Brazil in the 1930s, his style evolved toward rounded buildings that he said were inspired by the curves of Rio’s sunbathing women as well as beaches and verdant hills.

“That is the architecture I do, looking for new, different forms. Surprise is key in all art,” Niemeyer told Reuters in an interview in 2006. “The artistic capability of reinforced concrete is so fantastic – that is the way to go.”

Responding to criticism that his work was impractical and overly artistic, Niemeyer dismissed the idea that buildings’ design should reflect their function as a “ridiculous and irritating” architectural dogma.

“Whatever you think of his buildings, Niemeyer has stamped on the world a Brazilian style of architecture,” Dennis Sharp, a British architect and author of The Illustrated Encyclopedia of Architects and Architecture, once said of Niemeyer.

LIFELONG COMMUNIST

Niemeyer’s legacy is heavily associated with his communist views. He was a close friend of Cuba’s revolutionary leader Fidel Castro and an enemy of Brazil’s 21-year military dictatorship.

“There are only two communists left in the world, Niemeyer and myself,” Castro once joked.

Niemeyer remained politically active after returning to Brazil, taking up the cause of a militant and sometimes violent movement of landless peasants. He said in 2010 that he was a great admirer of Luiz Inacio Lula da Silva, the former labor leader who was Brazil’s president from 2003 to 2010.

Niemeyer once built a house in a Rio slum for his former driver and gave apartments and offices as presents to others.

Despite his egalitarian views, Niemeyer had no illusions that his buildings were helping to improve social justice.

Far from the model city Niemeyer had envisioned, Brasilia today is in many ways the epitome of inequality. Planned for 500,000 people, the city is now home to more than 2.5 million and VIPs keep to themselves in fenced-in villas while the poor live in distant satellite towns.

“It seemed like a new era was coming, but Brazil is the same crap – a country of the very poor and the very rich,” he said in another Reuters interview in 2001.

In a 2010 interview in his office, he was quick to blame Costa for things many dislike about Brasilia, such as its rigid ordering into homogenous “hotel,” “government,” “residential” and even “mansion” and “media” districts that can make finding a newspaper or groceries a chore.

“I just did the buildings,” he said. “All that other stuff was Costa.”

Despite Niemeyer’s atheism, one of his first significant early works was a church built in homage to St. Francis, part of a complex of modern buildings in Belo Horizonte, Brazil.

That work won the confidence of the city’s mayor Juscelino Kubitschek. When he became president, he tapped Niemeyer to help realize the dream of opening up Brazil’s interior by moving the capital from coastal Rio to the empty plains of central Brazil.

Despite years of bohemian living, Niemeyer remained married for 76 years to Annita Baldo, his first wife. He married his second wife, long-time aide Vera Lucia Cabreira, in 2006 at the age of 99. She survives him, as do four grandchildren.

Niemeyer’s only daughter, an architect, designer and gallery owner, Anna Maria, died on June 6 at the age of 82.

(Additional reporting by Brian Ellsworth; Editing by Todd Benson and Kieran Murray)

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Obama, Boehner talk; Geithner prepared to go off “cliff”

WASHINGTON (Reuters) – Republicans in Congress and President Barack Obama consumed much of Wednesday talking up their positions on the “fiscal cliff” and though Obama and Republican House Speaker John Boehner spoke by phone, neither side offered any new compromises in public.

Nor was the phone call, a rarity, followed by any immediate announcement of a face-to-face meeting that has been widely anticipated all week and was explicitly requested early in the day by House of Representatives Republican leader Eric Cantor.

Asked in an interview with CNBC if the administration was ready to go over the so-called fiscal cliff if Republicans don’t come around on taxes, Obama‘s chief negotiator, Treasury Secretary Timothy Geithner, responded: “Oh, absolutely.”

Facing spending cuts and tax increases that start to take effect in January unless Congress acts, Republicans on Capitol Hill were privately acknowledging that they were taking a public relations thrashing at the hands of the White House, which has marshaled a campaign-style offensive that involves some of the very “job-creators” Republicans say they are protecting.

Obama met with another such corporate group on Wednesday, The Business Roundtable, renewing his call to include tax hikes on the wealthiest 2 percent of Americans as part of the final resolution and for including an increase in the nation’s borrowing limit.

U.S. stocks rose on Wednesday after Obama also said a deal to avert the fiscal cliff was possible within a week, though he expressed it as a hope not a prediction.

The confrontation has become an endless loop of familiar talking points and well-worn positions. Republican leaders have balked at raising any tax rates, and Democrats have resisted Republican calls for cuts in entitlements like the Medicare and Medicaid healthcare programs.

Obama said there could be a quick deal if Republican leaders dropped their opposition to raising tax rates for those making more than $ 250,000 a year in exchange for spending cuts and entitlement reforms.

“If we can get the leadership on the Republican side to take that framework, to acknowledge that reality, then the numbers actually aren’t that far apart,” Obama told The Business Roundtable.

“Another way of putting this is we can probably solve this in about a week. It’s not that tough, but we need that conceptual breakthrough,” he said.

Geithner reiterated that there would be no deal without higher tax rates on the wealthy and without a change in congressional rules making it harder to block an increase in the U.S. debt ceiling.

“There is no prospect (for) an agreement that doesn’t involve rates going up on the top 2 percent of the wealthiest Americans,” he told CNBC.

The two sides have submitted proposals to cut deficits by more than $ 4 trillion over the next 10 years, but differ on how to get there. Republicans propose $ 1 trillion more in spending cuts than Obama, while the president wants $ 800 billion more in tax increases and $ 200 billion to boost the sluggish economy.

Republicans have shown cracks in their solidarity on taxes, however, with some saying they would be willing to let rates rise on the wealthiest 2 percent in exchange for extending low rates for the other 98 percent of taxpayers.

‘WE HAVE TO RAISE REVENUE’

Republican Senator Tom Coburn of Oklahoma said he could accept some higher tax rates as part of a long-term solution to the threat posed by spiraling U.S. debt. He said the path to prosperity would require at least a $ 9 trillion package of spending cuts and tax increases over 10 years, rather than the $ 4 trillion being discussed now.

“Personally I know we have to raise revenue. I don’t really care which way we do it. Actually, I would rather see the rates go up than do it the other way because it gives us a greater chance to reform the tax code and broaden the base in the future,” Coburn said on MSNBC.

With no resolution in sight and the fiscal cliff looming, the White House budget office has told all federal agencies to begin planning for possible automatic spending cuts that will start taking effect in January without a deal, the White House said.

White House spokesman Jay Carney said the Office of Management and Budget needed to take certain steps to be ready if an agreement is not reached and asked federal agencies for information so it could complete calculations on the required cuts.

Economists have predicted that failure to reach an accord could trigger another recession, and business executives and investors in the financial markets have watched the back and forth anxiously.

Jim McNerney, chairman of the Business Roundtable and chairman and chief executive officer of Boeing Co., called for non-stop negotiations to break the stalemate.

“We encourage both sides to work around the clock, if necessary, to avoid the severe repercussions that inaction would have on U.S. economic growth and job creation,” McNerney said in a statement after Obama’s appearance before the executives.

Obama’s call for including an increase in the debt ceiling in a final package seemed likely to complicate the negotiations.

In his speech to executives, Obama said it was a “bad strategy” for Republicans to believe they would have more leverage next year to extract concessions from the White House by threatening to let the United States default.

A debt ceiling standoff between the White House and House Republicans in 2011 brought the country perilously close to default and resulted in an embarrassing debt rating downgrade.

“I want to send a very clear message to people here: We are not going to play that game next year,” Obama told the executives.

The focus on the debt ceiling is already raising concerns among market watchers.

“The more the Republicans talk about raising or not raising the debt limit, that really makes the market nervous, and makes the White House more nervous than Congress,” said John Brady, managing director at R.J. O’Brien & Associates in Chicago. “The cliff can be punted into the future, but the debt ceiling can’t be.”

(Additional reporting by Kim Dixon, Alina Selyukh, David Alexander, Richard Cowan, Steve Holland and Rodrigo Campos; Writing by John Whitesides; Editing by Eric Beech)

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UK warned on debt ‘credibility’

5 December 2012 Last updated at 14:28 ET

The UK’s failure to meet a key public debt target “weakens the credibility” of its top AAA credit rating, the Fitch ratings agency has said.

Debt will now not fall as a proportion of the country’s output until 2016-17, a year later than Chancellor George Osborne had targeted.

Fitch said that the Autumn Statement confirmed the scale of the challenge facing the UK.

In March, it said the UK’s AAA rating was under threat.

A cut to the credit rating would mean that the country is perceived as more risky to lend to, thereby raising the cost of borrowing from international investors.

The Office for Budget Responsibility, the independent body that makes economic forecasts for the government, announced that the UK will miss its debt target and the economy will contract by 0.1% this year – a big revision from the time of the Budget in March, when it said that the economy would grow 0.8% this year.

Growth forecasts for the next five years were also cut.

“We forecast gross general government debt to peak at 97% in 2015-16, approaching the upper limit of the level consistent with the UK retaining its AAA status,” Fitch said.

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“The government has chosen not to chase the supplementary target by deploying additional consolidation measures over the next two years. In our view, missing the target weakens the credibility of the UK’s fiscal framework, which is one of the factors supporting the [AAA] rating.”

It warned in March that it could downgrade the UK in the next few years if the government does not contain the level of public debt.

Fitch said it would formally review the UK’s rating after the next Budget in March 2013.

In February, rival agency Moody’s also warned that the UK’s credit rating may be cut in future, potentially increasing borrowing costs.

Confusion on borrowing

On borrowing figures, the chancellor said that debt would not begin to fall as a proportion of the country’s output until 2016-17, which is a year later than the government’s target.

Before the statement, many analysts had predicted that the budget deficit, which is the amount the government is having to borrow in the current year, would be higher than it was last year.

However, it is now forecast to fall from £121bn in 2011-12 to £108bn in 2012-13.

But there was some confusion about how that had been achieved, with shadow chancellor Ed Balls complaining about the full figures not being in the Mr Osborne’s statement.

BBC economics editor Stephanie Flanders said that the deficit figure had fallen because the government had decided to use the proceeds from the sale of licences to run 4G mobile phone services to reduce this year’s borrowing.

Without that, she said, the deficit would have risen “maybe by a couple of billion pounds”.

There was also a reduction in the deficit of £11.5bn in the current year as a result of the Asset Purchase Facility.

As a result of the Bank of England’s quantitative easing programme, the central bank currently owns a lot of the government’s debt.

If anybody else had lent money to the government it would have had to pay interest on those loans.

The government has now decided it should not be paying interest to the Bank of England, and the benefit of that has reduced the deficit and will continue to do so for the next four years.

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Death toll from Philippine typhoon nears 300

NEW BATAAN, Philippines (AP) — Stunned parents searching for missing children examined a row of mud-stained bodies covered with banana leaves while survivors dried their soaked belongings on roadsides Wednesday, a day after a powerful typhoon killed nearly 300 people in the southern Philippines.

Officials fear more bodies may be found as rescuers reach hard-hit areas that were isolated by landslides, floods and downed communications.

At least 151 people died in the worst-hit province of Compostela Valley when Typhoon Bopha lashed the region Tuesday, including 78 villagers and soldiers who perished in a flash flood that swamped two emergency shelters and a military camp, provincial spokeswoman Fe Maestre said.

Disaster-response agencies reported 284 dead in the region and 14 fatalities elsewhere from the typhoon, one of the strongest to hit the country this year.

About 80 people survived the deluge in New Bataan with injuries, and Interior Secretary Mar Roxas, who visited the town, said 319 others remained missing.

“These were whole families among the registered missing,” Roxas told the ABS-CBN TV network. “Entire families may have been washed away.”

The farming town of 45,000 people was a muddy wasteland of collapsed houses and coconut and banana trees felled by Bopha’s ferocious winds.

Bodies of victims were laid on the ground for viewing by people searching for missing relatives. Some were badly mangled after being dragged by raging flood waters over rocks and other debris. A man sprayed insecticide on the remains to keep away swarms of flies.

A father wept when he found the body of his child after lifting a plastic cover. A mother, meanwhile, went away in tears, unable to find her missing children. “I have three children,” she said repeatedly, flashing three fingers before a TV cameraman.

Two men carried the mud-caked body of an unidentified girl that was covered with coconut leaves on a makeshift stretcher made from a blanket and wooden poles.

Dionisia Requinto, 43, felt lucky to have survived with her husband and their eight children after swirling flood waters surrounded their home. She said they escaped and made their way up a hill to safety, bracing themselves against boulders and fallen trees as they climbed.

“The water rose so fast,” she told AP. “It was horrible. I thought it was going to be our end.”

In nearby Davao Oriental, the coastal province first struck by the typhoon as it blew from the Pacific Ocean, at least 115 people perished, mostly in three towns that were so battered that it was hard to find any buildings with roofs remaining, provincial officer Freddie Bendulo and other officials said.

“We had a problem where to take the evacuees. All the evacuation centers have lost their roofs,” Davao Oriental Gov. Corazon Malanyaon said.

The International Federation of Red Cross and Red Crescent Societies issued an urgent appeal for $ 4.8 million to help people directly affected by the typhoon.

The sun was shining brightly for most of the day Wednesday, prompting residents to lay their soaked clothes, books and other belongings out on roadsides to dry and revealing the extent of the damage to farmland. Thousands of banana trees in one Compostela Valley plantation were toppled by the wind, the young bananas still wrapped in blue plastic covers.

But as night fell, however, rain started pouring again over New Bataan, triggering panic among some residents who feared a repeat of the previous day’s flash floods. Some carried whatever belongings they could as they hurried to nearby towns or higher ground.

After slamming into Davao Oriental and Compostela Valley, Bopha roared quickly across the southern Mindanao and central regions, knocking out power in two entire provinces, triggering landslides and leaving houses and plantations damaged. More than 170,000 fled to evacuation centers.

As of Wednesday evening, the typhoon was over the South China Sea west of Palawan province. It was blowing northwestward and could be headed to Vietnam or southern China, according to government forecasters.

The deaths came despite efforts by President Benigno Aquino III’s government to force residents out of high-risk communities as the typhoon approached.

Some 20 typhoons and storms lash the northern and central Philippines each year, but they rarely hit the vast southern Mindanao region where sprawling export banana plantations have been planted over the decades because it seldom experiences strong winds that could blow down the trees.

A rare storm in the south last December killed more than 1,200 people and left many more homeless.

The United States extended its condolences and offered to help its Asian ally deal with the typhoon’s devastation. It praised government efforts to minimize the deaths and damage.

___

Associated Press writers Jim Gomez, Teresa Cerojano and Oliver Teves in Manila contributed to this report.

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iOS users generate double the Web traffic of Android users

According to the latest numbers from Chitika Insights, iOS users generate more than twice the amount of Web traffic as Android users. The six-month study found that while the two operating systems were nearly tied when it came to smartphone Web traffic, Apple (AAPL) has a substantial lead with its iPad tablet. Despite Android’s commanding share of the overall mobile market, the Cupertino-based company’s platform totaled 67% of Web traffic measured in the past six months, compared to Android’s 35% share.

“Despite all the new Android and Apple devices that have been released over the past six months, little has changed in the overall Web traffic distribution between iOS and Android,” the research firm wrote. “iOS’s share has hovered around 65%, while Android largely has stayed around 35%, the OS hit a peak of 40% in late August thanks partially to strong Samsung Galaxy S III sales. Apple then regained some share with the release of the iPhone 5 in the September timeframe.”

To qualify for the study Chitika Insights analysed billions of ad impressions coming from iOS or Android devices from May 27th to November 27th.

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Huston’s “Infrared” wins Bad Sex fiction prize

LONDON (AP) — It’s the prize no author wants to win.

Award-winning novelist Nancy Huston won Britain’s Bad Sex in Fiction award Tuesday for her novel “Infrared,” whose tale of a photographer who takes pictures of her lovers during sex proved too revealing for the judges.

The choice was announced by “Downton Abbey” actress Samantha Bond during a ceremony at the Naval & Military Club in London.

Judges of the tongue-in-cheek prize — which is run by the Literary Review magazine — said they were struck by a description of “flesh, that archaic kingdom that brings forth tears and terrors, nightmares, babies and bedazzlements,” and by a long passage that builds to a climax of “undulating space.”

Huston, who lives in Paris, was not on hand to collect her prize. In a statement read by her publicist, the 59-year-old author said she hoped her victory would “incite thousands of British women to take close-up photos of their lovers’ bodies in all states of array and disarray.”

The Canada-born Huston, who writes in both French and English, is the author of more than a dozen novels, including “Plainsong” and “Fault Lines.” She has previously won France’s Prix Goncourt prize and was a finalist for Britain’s Orange Prize for fiction by women.

She is only the third woman to win the annual Bad Sex prize, founded in 1993 to name and shame authors of “crude, tasteless and … redundant passages of sexual description in contemporary novels.”

Some critics, however, have praised the sexual passages in “Infrared.” Shirley Whiteside in the Independent on Sunday newspaper said there were “none of the lazy cliches of pornography or the purple prose of modern romantic fiction” — though she conceded the book’s sex scenes were “more perfunctory than erotic.”

Huston beat finalists including previous winner Tom Wolfe — for his passage in “Back to Blood” describing “his big generative jockey” — and Booker Prize-nominated Nicola Barker, whose novel “The Yips” compares a woman to “a plump Bakewell pudding.”

Previous recipients of the dubious honor, usually accepted with good grace, include Sebastian Faulks, the late Norman Mailer and the late John Updike, who was awarded a Bad Sex lifetime achievement award in 2008.

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Online: http://www.literaryreview.co.uk

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Fast-growing fish may never wind up on your plate

WASHINGTON (AP) — Salmon that’s been genetically modified to grow twice as fast as normal could soon show up on your dinner plate. That is, if the company that makes the fish can stay afloat.

After weathering concerns about everything from the safety of humans eating the salmon to their impact on the environment, Aquabounty was poised to become the world’s first company to sell fish whose DNA has been altered to speed up growth.

The Food and Drug Administration in 2010 concluded that Aquabounty’s salmon was as safe to eat as the traditional variety. The agency also said that there’s little chance that the salmon could escape and breed with wild fish, which could disrupt the fragile relationships between plants and animals in nature. But more than two years later the FDA has not approved the fish, and Aquabounty is running out of money.

“It’s threatening our very survival,” says CEO Ron Stotish, chief executive of the Maynard, Mass.-based company. “We only have enough money to survive until January 2013, so we have to raise more. But the unexplained delay has made raising money very difficult.”

The FDA says it’s still working on the final piece of its review, a report on the potential environmental impact of the salmon that must be published for comment before an approval can be issued. That means a final decision could be months, even years away. While the delay could mean that the faster-growing salmon will never wind up on American dinner tables, there’s more at stake than seafood.

Aquabounty is the only U.S. company publicly seeking approval for a genetically modified animal that’s raised to be eaten by humans. And scientists worry that its experience with the FDA’s lengthy review process could discourage other U.S. companies from investing in animal biotechnology, or the science of manipulating animal DNA to produce a desirable trait. That would put the U.S. at a disadvantage at a time when China, India and other foreign governments are pouring millions of dollars each year into the potentially lucrative field that could help reduce food costs and improve food safety.

Already, biotech scientists are changing their plans to avoid getting stuck in FDA-related regulatory limbo. Researchers at the University of California, Davis have transferred an experimental herd of genetically engineered goats that produce protein-enriched milk to Brazil, due to concerns about delays at the FDA. And after investors raised concerns about the slow pace of the FDA’s Aquabounty review, Canadian researchers in April pulled their FDA application for a biotech pig that would produce environmentally friendly waste.

“The story of Aquabounty is disappointing because everyone was hoping the company would be a clear signal that genetic modification in animals is now acceptable in the U.S.,” said Professor Helen Sang, a geneticist at the University of Edinburgh in Scotland who is working to develop genetically modified chickens that are resistant to bird flu. “Because it’s gotten so bogged down — and presumably cost AquaBounty a huge amount of money — I think people will be put off.”

AGAINST THE CURRENT

The science behind genetic modification is not new. Biotech scientists say that genetic manipulation is a proven way to reduce disease and enrich plants and animals, raising productivity and increasing the global food supply. Genetically modified corn, cotton and soybeans account for more than four-fifths of those crops grown in the U.S., according to the National Academies of Sciences.

But there have always been critics who are wary of tinkering with the genes of living animals. They say the risk is too great that modified organisms can escape into the wild and breed with native species. Not that we don’t already eat genetically altered animals. Researchers say the centuries-old practice of selective breeding is its own form of genetic engineering, producing the plumper cows, pigs and poultry we eat today.

“You drive a hybrid car because you want the most efficient vehicle you can have. So why wouldn’t you want the most efficient agriculture you can have?” asks Alison Van Eenennaam, a professor of animal science at University of California, Davis.

Aquabounty executives say their aim is to make the U.S. fish farming industry, or aquaculture, more efficient, environmentally friendly and profitable. After all, the U.S. imports about 86 percent of its seafood, in part, because it has a relatively small aquaculture industry. Aquaculture has faced pushback in the U.S. because of concerns about pollution from large fish pens in the ocean, which generate fish waste and leftover food.

Aquabounty executives figure that the U.S. aquaculture industry can be transformed by speeding up the growth of seafood. The company picked Atlantic salmon because they are the most widely consumed salmon in the U.S. and are farmed throughout the world: In 2010, the U.S. imported more than 200,000 tons of Atlantic salmon, worth over $ 1.5 billion, from countries like Norway, Canada and Chile.

Using gene-manipulating technology, Aquabounty adds a growth hormone to the Atlantic salmon from another type of salmon called the Chinook. The process, company executives say, causes its salmon to reach maturity in about two years, compared with three to four years for a conventional salmon.

Aquabounty executives say if their fish are approved for commercial sale, there are several safeguards designed to prevent the fish from escaping and breeding with wild salmon. The salmon are bred as sterile females. They also are confined to pools where the potential for escape would be low: The inland pens are isolated from natural bodies of water.

And the company says that these pens would be affordable thanks to the fast-growing nature of Aquabounty’s fish, which allows farmers to raise more salmon in less time. Overall, the company estimates that it would cost 30 percent less to grow its fish than traditional salmon.

TOUGH SALE

But getting the fish to market hasn’t been easy.

The company began discussions with the FDA in 1993. But the agency did not yet have a formal system for reviewing genetically modified food animals.

So Aquabounty spent the next decade conducting more than two dozen studies on everything from the molecular structure of the salmon’s DNA to the potential allergic reactions in humans who would eat it. By the time the FDA completed its roadmap for reviewing genetically modified animals in 2009, Aquabounty was the first company to submit its data.

After reviewing the company’s data, the FDA said in a public hearing in September of 2010 that Aquabounty’s salmon is “as safe as food from conventional Atlantic salmon.” The FDA also said the fish “are not expected to have a significant impact” on the environment.

But as the company has inched toward FDA approval it has faced increasing pushback from natural food advocates, environmentalists and politicians from salmon-producing states. In fact, following the FDA’s positive review of the fish, the House of Representatives passed a budget that included language barring the FDA from spending funds to approve a genetically engineered salmon.

“Frankenfish is uncertain and unnecessary,” said Rep. Don Young of Alaska, who authored the language. The Senate did not adopt the measure.

Despite such opposition, environmental groups such as the Food and Water Watch say that FDA approval seems inevitable. “We think there is a clear bias toward approving genetically modified animals within the FDA,” said Patty Lovera, assistant director of Food & Water Watch, a nonprofit that promotes environmentally friendly fishing and farming practices. “This thing is trapped in a regulatory process that is predisposed toward approving it.”

But the delay could cause Aquabounty to go bankrupt before its salmon reaches supermarkets.

Aquabounty, which started in 1991 focusing on proteins used to preserve human cells, changed direction after acquiring the rights to gene-manipulation technology from researchers at the University of Toronto and Memorial University of Newfoundland. Initial financing came from Boston-area investors and biotech-focused venture capital funds, but the company has burned through more than $ 67 million since it started.

According to its mid-year financial report, Aquabounty had less than $ 1.5 million in cash and stock. And it has no other products besides genetically modified salmon in development.

In February, the cash-strapped company agreed to sell its research and development arm to its largest single shareholder, Kakha Bendukidze, a former Republic of Georgia finance minister turned investor, in return for his help raising $ 2 million in cash to stay afloat. Aquabounty’s CEO Stotish fretted that Bendukidze, who controlled nearly 48 percent of Aquabounty’s public stock, would move the company overseas. But in October Bendukidze’s investment fund sold its shares to Intrexon, a biotech firm headquartered in Germantown, Md.

Stotish views the sale as a positive development, but he still worries that the U.S. government is unwilling to approve the technology at the heart of his company’s work.

“This is about more than Aquabounty and more than salmon,” Stotish says. “And shame on us if we allow this to slip away because of partisan bickering and people who oppose new technology.”

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EU fails to agree bank supervisor

4 December 2012 Last updated at 15:25 ET

EU finance ministers have failed to reach agreement on setting up a single supervisor for eurozone banks after a meeting in Brussels.

Establishing a single supervisor under the European Central Bank (ECB) is seen as the first step in setting up a Europe-wide banking union.

But German and French ministers in particular clashed over the plans.

German Finance Minister Wolfgang Schauble raised concerns about the scope of ECB powers.

He warned that giving the ECB final say on the supervision of eurozone banks could compromise its independence.

Mr Schauble also reiterated his view that it was not reasonable to expect one institution to supervise all 6,000 European banks.

“It would be very difficult to get an approval from German parliament if [the deal] would leave the supervision for all the German banks to European banking supervision,” Mr Schauble said.

“Nobody believes that any European institution would be capable of supervising 6,000 banks in Europe.”

He also said there had to be a “Chinese wall” between supervision and monetary policy at the ECB.

His French counterpart Pierre Moscovici said the position of France was “steadfast” in support of the proposals.

Cypriot finance minister Vassos Shiarly, who chaired the meeting, called for another gathering to be held on December 12 in the hope of striking a deal.

EU officials are anxious that an agreement is reached before the end of the year.

The plans are seen as central to Europe’s response to the eurozone debt crisis and global financial crisis.

“It is of primordial importance that an agreement be reached by the end of the year,” said EU economic affairs commissioner Olli Rehn. “It is a test that Europe cannot afford to fail.”

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WestJet embraces tech to woo business travelers

TORONTO (Reuters) – WestJet Airlines Ltd will use technological innovation, including a new Internet ticket booking system, to help it transform from a no-frills carrier to a lower-cost full-service airline courting lucrative corporate travelers, its chief executive said on Monday.

Canada’s second-biggest airline plans to launch a series of technology systems, most notably the new online booking engine, which will sell three tiers of tickets, in the next two months.

“Companies evolve or they die,” Chief Executive Gregg Saretsky told Reuters in a phone interview from the company’s Calgary head office.

“We’re 16 and going on 17 years old and we can’t stay just as we were 17 years ago. The world has changed. And we are changing to be more relevant for a broader segment of guests.”

The new Internet booking system, which WestJet hopes to launch in late January, will sell economy, mid-tier and premium tickets. That is a major shift from its current system, which sells only the lowest-priced ticket available.

Economy tickets under the new system will continue to sell the lowest available fare, but the cancellation fee for them will jump to C$ 75 ($ 75.48) from C$ 50. Mid-tier tickets will have a C$ 50 cancellation fee.

Premium tickets, unavailable until late March when WestJet finishes reconfiguring its 100 Boeing 737 planes to allow more leg room, will include priority screening and boarding, free cancellations and flexibility on ticket changes.

Pricing for those tickets, which may include free meals and drinks and an extra baggage allowance, has not yet been determined. Fares will be well below half the price for business class at WestJet’s bigger competitor, Air Canada, Saretsky said.

“It’s time for us to be more serious with respect to going after business travelers because frankly, they’re the ones who are booking last-minute and are happy to pay for the conveniences,” Saretsky said.

WestJet will launch its premium economy service with 24 seats per plane, but will consider expansion if it proves “wildly successful,” he added.

POISED FOR CHANGE

WestJet, which has spent about C$ 40 million over the past two years on technology projects, is poised for major changes in 2013 as it readies to launch a new regional airline, Encore.

Saretsky hopes that WestJet’s switch in coming weeks to a new Internet phone system will allow ticket reservation agents to work from home and help make room for Encore staff.

Some 750 reservation agents work at WestJet’s Calgary offices, which house about 2,400 staff. Space will be needed for Encore employees over the next 18 months while their office, hangars and maintenance stores are constructed at the WestJet campus.

Encore will be launch in the second half of 2013, “probably closer to July than December,” Saretsky said, with seven Bombardier Q400 planes.

While WestJet won’t announce Encore’s schedule until Jan 21, the carrier will initially serve only “a handful” of new cities, with ticket prices up to 50 percent below Air Canada’s, he added.

Over the next two months, WestJet will also roll out a guest notification system that alerts travelers via email about their flights, allowing them to check in remotely.

Such self-service technology will be critical as WestJet faces increasing labor costs, Saretsky said.

Wage and benefit costs, which represent about a third of operating costs, have climbed 50 percent since WestJet was founded in 1996.

“You can see that creates a little bit of drag on earnings,” Saretsky said. “We’ve got to find ways of reducing our component costs.”

If WestJet can increase self service options for travelers, that could limit the need for new employees, Saretsky said. Management also wants to improve attendance management, so that fewer employees book off sick around long weekends, and more quickly clean and process planes between flights, he said.

(Reporting By Susan Taylor; Editing by Peter Galloway)

(This story was corrected to show that WestJet is replacing its Internet booking engine, not entire reservation system, in the first and second paragraphs)

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