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Sony: 'We Had No Choice' But To Cancel Film

Written By Unknown on Sabtu, 20 Desember 2014 | 14.47

Sony has defended its decision to cancel a film mocking the North Korean regime after the studio suffered a damaging cyber-attack.

In a statement, the company said it had "no choice" but to pull The Interview, because cinema chains across the US had backed away from showing the film, which depicts a plot to assassinate North Korean leader Kim Jong-Un.

The decision was made after the group claiming responsibility for the cyber-attack made terrorist threats against US cinemas if they showed the movie, which stars Seth Rogen and James Franco.

President Barack Obama strongly criticised the move, saying he believed the studio had "made a mistake".

Celebrities and film-makers have also slammed the decision, which was made earlier this week.

Mr Obama said: "I wish they had spoken to me first.

"We cannot have a society in which some dictatorship someplace can start imposing censorship."

"Without theaters, we could not release it in the theaters on Christmas Day," Sony said in response.

"We had no choice."

It insists it has only cancelled the Christmas Day release and it has been "actively surveying alternatives" to release the film on another platform.

"It is still our hope that anyone who wants to see this movie will get the opportunity to do so," Sony said.

Sony's chief executive, Michael Lynton, has also defended the company's actions, telling CNN: "We experienced the worst cyber-attack in American history.

"We have not caved, we have not given in, we have persevered and we have not backed down.

"We have always had every desire to have the American public see this movie."

Mr Lynton said the President, the media and the public "are mistaken as to what actually happened" and added he had personally talked to senior advisers at the White House, who were "certainly aware of the situation".

The FBI revealed on Friday it believed North Korea was behind the cyber-attack on Sony, something Pyongyang has denied.

However, a North Korean diplomat did say the film "defamed the image of our country".

The FBI called the attack, which led to a series of embarrassing leaks, an unacceptable act of state-sponsored "intimidation".

The agency said technical analysis of malware used in the attack found links to malware that "North Korean actors" had developed and found a "significant overlap" with "other malicious cyber activity" previously tied to Pyongyang.

The group claiming responsibility for the attack, who call themselves Guardians of Peace, praised the decision to cancel the film's release in a statement provided to CNN on Friday.

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  1. Gallery: 'The Interview' Film Pulled: Hollywood Takes to Twitter

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'Panic Saturday' To Start Xmas Spending Spree

Shoppers are set to spend a total of £1.2bn on last minute gifts and groceries on what has been dubbed "Panic Saturday".

Around 13 million consumers will spend £2.1m for every minute stores are open at an average of £92.31 per person, according to a report by the Centre for Retail Research (CRR) for Vouchercodes.co.uk.

Claire Davenport, Vouchercodes.co.uk managing director, said: "With Christmas Day falling later in the week this year, consumers feel that there is still plenty of time to complete their shopping.

"Panic Saturday kicks off a big week for retailers and we're expecting to see a huge increase in traffic to our site this weekend."

Some of the biggest high street names have slashed their prices for what is expected to be one of the busiest shopping days of the year.

Debenhams has reduced some gifts by 50%, Boots is offering a 60% discount of selected fragrances, while Marks & Spencer is selling some beauty products for half-price.

Delayed online orders, poor weather and earlier sales are expected to drive around 70 million shoppers to the high street between now and Christmas Eve - an increase of 14% on last year.

The CRR report also predicts in-store sales will reach £4.74bn over the five days before Christmas, another noticeable increase on last year (21%).

The CRR says the additional shopping day will contribute an extra £870m.

Department stores can expect to double their takings this weekend, data from payment processing company Worldpay suggests, with shops in the north of England set to benefit the most.

It said the number of card payments taken by department stores in some parts of the UK just before Christmas increased by as much as 224% this time last year, and even better figures are expected for 2014.

Worldpay UK managing director Dave Hobday said: "Department stores are magnets for shoppers who find themselves in the last-chance saloon in the final few days before Christmas.

"Many of these eleventh-hour shoppers will be breaking into a cold sweat at the thought of heading to the high street on the busiest shopping day of the year and praying for someone to take the pain away."

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  1. Gallery: Black Friday: Madness In The Shops

    Yes, really. Shoppers have wrestled over a television. It has come that, people. "Black Friday" is in full swing in Britain and the stiff upper lip Brits are famous for has well and truly left the building. This photo was taken at an Asda in Wembley, north London

Britain's high streets, shopping centres and websites have been awash with discounts as more retailers than ever embraced US-style promotions, seeking to kickstart trading in the key Christmas period

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Push To Get More Women Into The Cockpit

By Charlotte Lomas, Sky News Reporter

More than four decades after the first British female pilot took to the skies in a commercial airliner, there are still few women choosing flying as a career. But why are there so few female pilots?

Of the 3,500 pilots employed by British Airways, just 200 are women and this is more than any other UK airline.

Globally, 4,000 of the 130,000 airline pilots are female and fewer still are captains - worldwide there are around 450.

Helen Macnamara has been a British Airways pilot for 14 years after enrolling on a sponsorship scheme once she left university.

"I like to see the world and different places and I enjoy the magic of flying itself," she said.

"Once you have the passion for it, then that's it really".

Helen, 38, believes the reason so few women go into flying may stem from a lack of opportunities in the past.

She said: "I think historically there were less women involved in aviation and that has been changing throughout my career.

"I think it's important females see this as an option and that there are role models in our industry."

One such role model is TV presenter and now fully trained pilot, Carol Vorderman.

She is planning to embark on a solo round-the-world flying trip and is supporting a recruitment drive by British Airways to get more women in the cockpit.

Carol said: "I always wanted to be a pilot since I was very young.

"It was the reason I read Engineering at Cambridge, and ideally would have joined the RAF or a commercial airline after graduating, but sadly this was not an option then.

"I think the reason so few women enter the profession can be traced back to schools, home and the media. Girls need to be encouraged more to pursue sciences, maths and technology at school and realise different paths are open to them."

Although many women work in the aviation industry as a whole - piloting is still very much a male-dominated profession.

Jim McAuslan, the general secretary of BALPA, the British Airline Pilots Association, is hoping this will change.

He said: "Women make great pilots, unfortunately only five percent of our members and British pilots are women, and that's disappointing.

"So we're reaching out to women to find why they're not coming forward. Perhaps it's because of their choice of careers at an earlier age. Engineering is a great way to get into flying, so perhaps people should look at their careers early on.

"But our big message would be: have the dream."

Some critics argue that women face prejudice when considering a career in flying.

In 2009 a Virgin Airlines advert featuring glamorous female flight attendants flanking a male pilot received complaints it was sexist.

So too did an Air New Zealand in-flight safety video where women were dressed bikinis.

But Helen says that she has never experienced any negativity. Most passengers are simply surprised to have a female pilot, she said.

"Actually when members of the public come to our flight simulator where we train, it is usually the women who fare better than the men.

"They are softer with the manoeuvres and males can be more heavy handed."

In an industry where fewer than 5% of pilots are women it's hoped more will be landing safely on the tarmac in future.


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Pump Prices: Cheap Petrol Comes With A Warning

Written By Unknown on Jumat, 19 Desember 2014 | 14.47

Tumbling oil prices are resulting in lower petrol costs, but there are warnings the good news for drivers may not last.

With prices falling by more than 40% since June's high of $111 a barrel, there have been an increasing number of reports suggesting petrol prices across the UK could soon fall below £1 per litre - the lowest level since the end of May 2009.

Experts at the RAC believe petrol could fall to 99p a litre next year, while economists at Goldman Sachs also believe petrol could fall close to £1.

But AA president Edmund King said this possibility remained "remote".

He said: "A 6.6p-a-litre drop in the price of petrol releases a potential £3m-a-day switch of consumer spending from fuel forecourts to other businesses.

"It will also lower the cost of transporting goods, hopefully also to be passed on to customers."

Mr King went on: "However, the parallels with the 2008 crash, albeit that was a market in freefall while this one has been engineered by OPEC and could be stopped any time, carry a warning from the ghost of Christmas past.

"In 2009, a new year brought a new assessment of the market and pump prices started to rise again on January 5."

Analysis by the Office for National Statistics (ONS) also suggests petrol prices are unlikely to fall below £1-a-litre in the coming months.

But while the ONS said the price consumers pay at the pumps for petrol and diesel were "strongly related to the price of crude oil", it highlighted that price changes were "less volatile and the effect of changes in crude oil prices are delayed".

Ian Taylor, chief executive and president of Vitol, the world's largest oil trading company, told Sky News' Ian King Live that although the future was difficult to predict he believes the market "will steady up".

He said: "As you know oil traders are pretty useless at predicting price, but we sort of feel that inevitably at these price levels that several areas of the world will begin to cut back on capex (capital expenditure) and we'll see some reductions in supply and a big transfer of income to the consumers - hopefully lower petrol prices in the UK etc - and that will increase demand.

"We feel at the current prices and with Brent at $60 a barrel we should begin to see some stability, but oil has been a lot lower than this and a lot higher so it's difficult to predict just at this moment - but I do begin to believe the market will begin steady up."

He added: "It's a pretty big tax cut for every single consumer in the world and it's a huge transfer of income from oil producers to world consumers. It's pretty positive for the UK, Europe and other big consuming countries around the globe."

Petrol pump prices have plunged in the last month with the mid-November to mid-December fall the third biggest in 25 years, according to the AA.

The motoring group said that between mid-November and mid-December UK average petrol prices fell 6.6p to 116.32p a litre.

Only the October-November 2008 fall of 11.5p a litre and the August-September 2006 dip of 7.9p have been greater than the most recent decline.

The AA also said that average diesel prices have fallen 5.27p a litre to 122.16p over the mid-November to mid-December 2014 period.

And the fall does not include the very latest 2p-a-litre petrol reduction by the four biggest supermarkets which took effect on Wednesday.

Currently, south west England has the cheapest petrol, at an average of 116.1p a litre, while East Anglia has the dearest, at 117.1p.

The cheapest diesel is to be found in Northern Ireland, at 121.8p a litre, with the most-expensive in Scotland, at 122.7p a litre.


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Russia's Crumbling Economy Faces Fresh Sanctions

Russia's crumbling economy could be hit further after the EU agreed on more santions over its intervention in Ukraine.

Fresh punitive measures - banning investment in Crimea to target Russian Black Sea oil and gas exploration - were agreed at the end of the European Council summit in Brussels.

New EU president Donald Tusk said they needed to create a long-term strategy to stop Russia President Vladimir Putin's defiance of the West.

"We need to be realistic, we have to treat this as a long-term game. We must go beyond being reactive and defensive."

He called on Europeans to "regain our self-confidence and realise our own strength" when dealing with Russia.

David Cameron warned Mr Putin that Russia's economy was in "serious" trouble after being hit by a slump in oil prices and sanctions from the EU and US.

"I think that something very important is being made clear here, which is that if you want to have full access to the international capital markets you cannot behave in a way that flies in the face of the international rules and how to behave towards other countries.

"If it takes Russian troops out of Ukraine, and it obeys all the strictures of the Minsk agreement, these sanctions can go.

"But until that happens these sanctions should not go and there was a very clear and unanimous and unified view in the EU tonight."

Speaking at his annual end-of-year media conference, Mr Putin hit back saying the sanctions have not had a big effect and accused the West of behaving like "an empire".

He also accused the West of trying to "chain" the Russian bear.

"Probably our bear should just relax and sit quietly and just eat honey instead of hunting animals. Maybe then they will leave the bear in peace.

"But they will not.  What they are trying to do is chain the bear and when they manage to chain the bear they will just take out its fangs and claws."


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Falling Oil Prices Could Spell Serious Trouble

By Dominic Waghorn, US Correspondent

Paul Kenworthy has been an oilman for more than two decades. He's the owner of 10 wells near Midland West Texas and has seen good times and bad come and go, several times over.

But the precipitous drop in oil prices on what they called Black Friday last month has been painful all the same. Like everyone else he's seen the value of the black gold his pumps pull out of the Texas dirt go down by 40%.

He blames OPEC and the Saudis who have refused to cut production despite falling demand in Asia and Europe. But he says he understands what they're doing.

"To use a line from The Godfather, 'It's business it's not personal'," he told Sky News. "They're trying to maintain market share and they're going to do what it takes to maintain that market share."

OPEC, he says, is responding to a massive increase in US oil production because of the revolution in fracking. 

Hydraulic fracking has brought boom times to places like Midland not witnessed since the 80s. The average income in the town is the fastest growing in the country, and currently stands at $82,000 a year.

It's not just the oil industry that's been booming.

Mark Pearce is a homebuilder and says it's been impossible to keep up with demand from people flooding in to take advantage of the oil money.

'It's been really all you can get and nobody has been able to keep up. Early it was how much can you sell now it's just how much can you build to meet demand."

But fracking is expensive and not profitable if the price of oil goes below a certain level.

From cities like Dallas and Houston they are watching nervously asking the multibillion dollar question: how low will the price go and for how long?

The answer is important for people far beyond America. Its economy is the only one that's showing signs of a sustainable recovery currently. Much of that recovery has been driven by the oil boom.

Lower oil prices can help that further. They give people more money in their pocket - between $500 to $1,000 a year, according to current estimates. That should drive consumption and lower fuel prices make production cheaper too.

But if the price stays too low, the oil industry could be in serious trouble. That would threaten the wider economic recovery here and because what happens in America spreads to Europe, including the UK.

Bruce Bullock, director of the Maguire Energy Institute in Dallas, says it's a Goldilocks question. The oil price can't be allowed to get too high or two low.

"If it were to rebound up to $65 or $70 a barrel, I think on balance it will help the economic recovery. If it were to drop further I think it will harm the recovery. There's a lot at stake here for America and for the rest of the world."

Something worth bearing in mind before getting too excited by plunging prices at the pump.


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Wellcome Trust Warns On 'Populist' Mansion Tax

Written By Unknown on Kamis, 18 Desember 2014 | 14.47

By Mark Kleinman, City Editor

One of Britain's most successful investors has issued a thinly veiled swipe at Labour's proposed mansion tax and warned that "populist politics" risk derailing Britain's economic revival.

Speaking to Sky News, Danny Truell, chief investment officer of the Wellcome Trust, the medical research charity, said a lack of clarity about politicians' intentions toward key industries was potentially damaging.

Mr Truell did not explicitly identify Labour's proposals for a tax on expensive homes, but people close to the Wellcome Trust confirmed its anxiety that the party had not said whether charities would be exempted from a new levy.

"In the UK, populist policies risk derailing progress in restoring balance in the economy," Mr Truell said.

"We own £1.2bn of residential property in the UK; there is no clarity on how charities will be treated in respect of property taxes, which can only damage confidence in the short term."

His warning will reinforce impressions of a gulf between Mr Miliband's party and the interests of business leaders and the City.

Labour has pledged to address that perception despite pledges of a crackdown on the banking, energy and property industries.

Mr Truell oversees a vast investment portfolio at the Wellcome Trust, which includes shareholdings in companies such as Apple, Marks & Spencer, Twitter and Vodafone.

The research foundation's residential property assets include more than 1700 units in South Kensington in Central London, which it said today may generate "more muted" returns in the near term because of "political concerns and overly strong recent price appreciation".

Mr Truell was speaking to coincide with the disclosure of another stellar annual performance by the Wellcome Trust's investment division, which generated a total return of 15.4% in the year to September 30.

That equated to a £2.5bn return, which will contribute to a £4bn investment in charitable activities during the next five years.

Mr Truell added that the current slump in oil prices would be conducive to growth in Europe and Asia, and said he was surprised by the market's reaction.


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Mobile Networks Agree Deal To Boost UK Coverage

A £5bn project to guarantee mobile phone voice and text coverage to 90% of the UK geographical area by 2017 will go ahead.

The deal means the four mobile networks - EE, O2, Three and Vodafone - have all agreed to tackle poor coverage in so-called partial "not spots".

These are areas that may have coverage from some but not all of the four networks.

This will halve the number of areas where there is patchy mobile coverage.

In addition, the operators will increase full coverage from 69% to 85% - allowing phone users to download data.

Culture Secretary Sajid Javid said: "Too many parts of the UK regularly suffer from poor mobile coverage leaving them unable to make calls or send texts.

"Government and businesses have been clear about the importance of mobile connectivity, and improved coverage, so this legally binding agreement will give the UK the world-class mobile phone coverage it needs and deserves."

A Vodafone UK spokesman said: "We support the Government's objective of delivering better coverage to rural areas including partial not-spots.

"It is a great result for UK consumers and businesses and it will make the UK a leader across Europe in terms of the reach of mobile coverage."


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US Rate Signal Boosts World Stock Markets

World stock markets have rallied after the US Federal Reserve signalled interest rates would not be rising any time soon despite an improving economy.

US stocks enjoyed their strongest session of the year following three days of declines when the Fed said it would adopt a "patient" approach to rates - ending fears among investors of an increase in borrowing costs as soon as the spring.

Asian markets also rallied while European stocks were tipped to follow suit.

Fed chair Janet Yellen remained upbeat in her commentary surrounding the world economy despite the currency turmoil in Russia amid a downward spiral in world oil prices, low global inflation and general economic weakness - particularly in the eurozone.

But she stressed that the mention of patience was not a change in policy.

Ms Yellen said: "This new language does not represent a change in our policy intentions and is fully consistent with our previous guidance, which stated that it likely will be appropriate to maintain the current starting range for the federal funds rate for a considerable time after the end of our asset-purchase programme.

"But with that programme having ended in October and the economy continuing to make progress toward our objectives, the committee judged that some modifications for guidance is appropriate at this time.

"Employment is rising at a healthy rate and the US economy is strengthening," she added while noting: "There is room for further improvement."

US commentators had believed that better economic indicators, especially within the jobs market, could tip the Fed to begin rate rises as early as March.

But the jitters of recent days were cast aside following Ms Yellen's comments as the Dow Jones added 1.7% - the tech-heavy Nasdaq 2.1%.

In Asia, Japan's Nikkei jumped 2.3% while stocks in Australia climbed 1.8% for their best day since late 2013.

In commodity markets, oil prices steadied after some wild swings this week.

US crude rose 16 cents while Brent Crude was trading above $61-per-barrel.


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Festive Cheer On Forecourt As Petrol Prices Fall

Written By Unknown on Rabu, 17 Desember 2014 | 14.47

Petrol prices could soon fall below £1 per litre - the lowest level since the end of May 2009.

The RAC said the recent fall in the price of  oil - now below the $60-a-barrel - would keep dropping.

"What's currently happening at the pumps with falling fuel prices is something many motorists will not remember seeing before," said RAC fuel spokesman Simon Williams said.

"Talk of prices going up like a rocket and falling like a feather could not be further from the truth as retailers have been quick to pass on savings at the forecourt since we forecast on December 6 that prices were due to come down by 7p a litre for petrol and 6p for diesel."

The RAC added that it was hopeful drivers would benefit from the fall in prices in the first few months of the new year.

The group's monitoring of fuel prices shows the average price of a litre of petrol is 116.9p - nearly 14p a litre cheaper than at the start of the year.

Diesel is nearly 16p cheaper - 122.33p a litre now compared to 138.24p in January.

The average supermarket price of fuel is 114.26p a litre for petrol and 120.18p for diesel.

Mr Williams added: "Current forecasts are for average petrol prices to fall to below 110p a litre in the next fortnight and diesel to drop to under 116p.

"At these average prices across the country the cheapest retailers will almost certainly be selling petrol for around 105p a litre, or even lower."


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