Amgen drug cuts bad cholesterol up to 66 percent in statin patients – trial
















LOS ANGELES (Reuters) – Amgen Inc‘s experimental cholesterol-lowering drug, AMG145, reduced levels of “bad” cholesterol up to 66 percent in patients already taking statin drugs, according to results from a mid-stage trial that were presented on Tuesday.


The trial results were in line with two other studies showing significant reductions in LDL cholesterol that were unveiled on Monday at the American Heart Association scientific meeting in Los Angeles.













The latest study of 629 patients is the largest trial so far of a drug in a new class, known as PCSK9 inhibitors, designed to target a protein that prevents the body from removing artery blocking LDL cholesterol from the bloodstream.


The Phase 2 trial showed a mean reduction in LDL versus a placebo of 42 percent for patients injected with 70 mg of AMG145 every two weeks, 60 percent in the 105 mg group and 66 percent in the 140 mg group.


When the drug was administered every two weeks, the mean reduction in LDL was 42 percent for the 280 mg group, 50 percent for the 350 mg group and 50 percent in the 420 mg group.


“We had some patients with entry LDLs as low as 85,” said Dr. Robert Giugliano, associate professor at Brigham and Women’s Hospital in Boston, and the study’s lead investigator, “At the end, some had LDLs measured in the teens.”


Current guidelines from the American Heart Association call for LDL levels to be 100, but some cardiologists believe even lower levels would be beneficial.


The most common side effects seen in the trial were cold-like symptoms, cough and nausea.


The results were presented at the AHA meeting and published in the Lancet medical journal.


(Editing by Ken Wills)


Medications/Drugs News Headlines – Yahoo! News



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Wall Street ticks lower ahead of presidential vote
















NEW YORK (Reuters) – Stocks slipped in low volume on Monday as traders awaited Tuesday’s U.S. election to place bets on sectors seen performing better under one or the other political party.


Democratic President Barack Obama and his challenger, Republican Mitt Romney, sprinted through key states on the last day of the race for the White House. Investors also eyed congressional races to gauge how the United States will deal with the $ 600 billion in spending cuts and tax hikes that could kick in next year and send the economy reeling.













“People are pausing ahead of the election and what that means for the fiscal cliff,” said Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis.


Leading world economies pressed the United States on Sunday to act decisively to avert the fiscal cliff, calling it the biggest short-term threat to global growth.


The market’s reaction to data showing the pace of growth in the U.S. services sector slowed modestly in October was muted. Data from the Institute for Supply Management showed new orders slipped, but employment improved.


Paulsen said economic data could soon start to show the impact of superstorm Sandy on the economy after battering the U.S. northeast.


A week after Sandy wreaked havoc on New York City and the surrounding area, close to 2 million people still have no power as cold weather sets in. On Sunday 30,000 to 40,000 people in New York City were in need of shelter.


The Dow Jones industrial average <.DJI> fell 47 points, or 0.36 percent, to 13,046.16. The S&P 500 <.SPX> dropped 5.43 points, or 0.38 percent, at 1,408.77. The Nasdaq Composite <.IXIC> was down 2.82 points, or 0.09 percent, at 2,979.31.


Transocean Ltd reported a higher-than-expected adjusted profit for the third quarter and its shares were up 5.4 percent at $ 48.55.


Stifel Financial Corp shares gained 1.9 percent to $ 32.50. KBW Inc climbed 7.3 percent to $ 17.49 after Stifel said it would buy the smaller rival in a cash-and-stock deal valued at about $ 575 million to form an investment bank focused on the financial services industry.


A private survey of China’s growing services sector slipped in October, with weaker-than-expected new orders injecting a note of caution after three previous PMI surveys for October showed the world’s second-largest economy regaining momentum.


Greece’s government will present a new austerity package to parliament on Monday, facing a week of strikes and protests over proposals which must win deputies’ approval if the country is to secure more aid and stave off bankruptcy.


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)


Business News Headlines – Yahoo! News



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Bomb shakes Damascus, opposition holds unity talks
















AMMAN (Reuters) – A bomb exploded near army and security compounds in Damascus, Syrian television reported, and fractured opposition groups seeking to topple President Bashar al-Assad began unity talks abroad to win international respect and arms supplies.


The 50-kilogram (110-pound) bomb, near a large hotel in a heavily guarded district, was described by state media as an attack by “terrorists” – the government’s term for insurgents in the 19-month-old uprising against Assad.













Opposition activists said Sunday’s blast appeared to be the work of the Ahfad al-Rasoul (Grandsons of the Prophet) Brigade, an Islamist militant unit that attacked military and intelligence targets several times in the last two months.


The mainly Sunni rebels have carried out a series of bombings targeting government and military buildings in Damascus this year, extending the war into the seat of Assad’s power.


The Syrian conflict has aggravated divisions in the Islamic world, with Shi’ite Iran supporting Assad — whose Alawite faith derives from Shi’ite Islam — and U.S.-allied Sunni nations such as Saudi Arabia, Turkey and Qatar backing his foes.


The Syrian Network for Human Rights, an activist monitoring group, said government forces had killed 179 people on Sunday. It said most of the dead were civilians killed in shelling of Damascus suburbs and included 14 women and 20 children. The rest were rebels killed in battles in the capital and the northern provinces of Idlib and Aleppo.


Opposition campaigners said the Syrian army shelled rebel positions inside a Palestinian refugee camp on the edge of Damascus on Sunday, killing at least 20 people. They said the Yarmouk camp had become the latest battleground in the war.


In northern Idlib, opposition sources said rebels were forced to halt an offensive to take a big air base because of a shortage of ammunition, a problem that has dogged their campaign to cement a hold on the north by eliminating Assad’s devastating edge in firepower.


Islamist insurgents had launched the attack on the Taftanaz military airport at dawn on Saturday, using rocket launchers and at least three tanks captured from the military.


The Syrian government restricts journalists’ access in Syria, making it difficult to verify reports from the ground.


The Jaafar bin Tayyar Division, a rebel unit in Deir al-Zor, said its fighters had taken control of the al-Ward oilfield near the Iraqi border on Sunday, after overrunning a loyalist outpost that had 40 militiamen defending it.


Rebel commanders, former Syrian officials and the Syrian head of an oil services company familiar with oil production in the area said the fields, mostly not operational, had been under de facto rebel control for months.


FEARS OF WIDER CONFLAGRATION


The conflict began with peaceful protest rallies that morphed into armed revolt when Assad, whose family has ruled Syria since 1971, tried to stamp them out with military might. About 32,000 people have been killed, wide swathes of the major Arab state have been wrecked and the civil war threatens to widen into a regional sectarian conflagration.


The opposition talks that began in Qatar marked the first concerted attempt to meld feuding, disparate groups based abroad and coordinate strategy with rebels fighting in Syria.


Divisions between Islamists and secularists as well as between those inside Syria and opposition figures based abroad have foiled prior attempts to forge a united opposition and deterred Western powers from intervening militarily.


Analysts were skeptical the planned four days of opposition talks in the Qatari capital Doha would bring immediate results.


They aim to broaden the Syrian National Council (SNC), the largest of the overseas-based opposition groups, from some 300 members to 400, to pave the way for talks in Doha on Thursday including other anti-Assad factions to crystallise a coalition.


“The main aim is to expand the council to include more of the social and political components. There will be new forces in the SNC,” Abdulbaset Sieda, current leader of the Syrian National Council, told reporters in Doha ahead of the meeting.


The meetings would also elect a new executive committee and leader for the SNC, he said.


A Qatar-based security analyst, who asked not to be named, said the meetings would bring a small step forward, at most. “The Syrian National Council is just too divided,” he said.


In Cairo, the international mediator on Syria, Lakhdar Brahimi, called on Sunday for world powers to issue a U.N. Security Council resolution based on a deal they reached in June to set up a transitional Syrian government.


But Russian Foreign Minister Sergei Lavrov, speaking at the same news conference, dismissed the need for a resolution and said others were stoking violence by backing rebels. His comments highlighted the impasse over Syria’s civil war.


Russia and China, both permanent council members, have vetoed three Western-backed U.N. draft resolutions condemning Assad’s government for the violence. The other three permanent members are the United States, Britain and France.


(Additional reporting by Rania el Gamal and Regan Doherty in Qatar, Suleiman al-Khalidi in Amman; Editing by Philippa Fletcher and Stephen Powell)


World News Headlines – Yahoo! News



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“Political Animals” won’t get a second run on USA
















LOS ANGELES (TheWrap.com) – “Political Animals” has not been elected to a second term.


The USA Network miniseries from “Brothers & Sisters” executive producer Greg Berlanti and starring Sigourney Weaver as a divorced former First Lady turned Secretary of State, won’t be returning to the network.













The news isn’t terribly surprising, as “Political Animals” was conceived as a miniseries, but the project marked an ambitious jump for USA.


“We are proud of ‘Political Animals,’ our miniseries that attracted critical acclaim and impacted the cultural conversation this summer,” a spokeswoman for USA told TheWrap in a network statement. “It was a pleasure to work with Greg Berlanti and Laurence Mark and a powerful cast led by Sigourney Weaver. We look forward to collaborating again with these immensely talented creatives.”


“Political Animals” premiered July 15 — a night that also saw the highly anticipated Season 5 premiere of AMC’s “Breaking Bad” – and grabbed 3.8 million total viewers in Live Plus 7 Day ratings, which takes into account DVR viewings. Over its six-episode run, the miniseries averaged 3.2 million total viewers in Live Plus 7 Day.


Deadline first reported the news of “Political Animals” not returning.


TV News Headlines – Yahoo! News



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Magic Johnson: 21 Years With HIV
















Twenty-one years after announcing his retirement from the Los Angeles Lakers because of HIV, Earvin “Magic” Johnson is a symbol of hope for more than a million Americans living with the once-deadly virus.


The basketball star’s Nov. 7, 1991, revelation shocked the nation at a time when many people thought HIV was an infection for “other people,” like gay men.













“Here I am saying that it can happen to anybody, even me, Magic Johnson,” he said at a packed news conference at the Forum in Inglewood, Calif. “I just want to say that I’m going to miss playing, and I will now become a spokesman for the HIV virus.”


Now 53, Johnson has kept his promise through a foundation in his name that funds HIV education and prevention programs in some of the country’s most vulnerable neighborhoods.


“There is not a better feeling than to touch somebody’s life, than to impact it,” he said in a statement to ABC News last week. “Not a better feeling in the world.”


Johnson was diagnosed with HIV after having medical tests for a life insurance policy. He said he acquired the virus through unprotected sex with multiple women, and hoped to encourage other people to be more careful.


“That’s what I want to preach,” he said after his diagnosis. “I want them to understand that safe sex is the way to go.”


Johnson’s wife, Cookie, and their son are HIV-negative.


Johnson’s announcement, which came at the peak of his NBA fame, coincided with a dramatic drop in HIV infections nationwide, from more than 80,000 new cases per year to about 50,000, according to the U.S. Centers for Disease Control and Prevention. But the infection rate has since leveled off, a trend some attribute to complacence.


“Some people feel that because [Johnson] has lived on, they can have certain behaviors and live on, too,” said Amelia Williamson, president of the Beverly Hills-based Magic Johnson Foundation. “But his message is, ‘Follow my lead. Don’t make same mistakes I made.’”


Indeed, HIV treatments, the product of years of research, can help people with HIV live long lives without developing AIDS. But the drugs come at a cost.


“HIV is not a death sentence, but it’s a life sentence,” said Hydeia Broadbent, 28, who was born HIV-positive to an intravenous drug user. “You’ll be taking pills forever, going to the doctor and fighting for insurance forever.”


Broadbent met Johnson at a televised AIDS awareness event when she was 7 years old. When he asked what she wanted people to know about HIV, she replied through tiny sobs, “I want people to know that we’re just normal people.”


Now an HIV and AIDS activist herself, Broadbent recognizes the impact of Johnson’s bold admission and his mission to raise awareness.


“There aren’t really any other celebrities that have come forward and spoken out about having HIV,” she said. “And he’s a prime example of how this can happen to anyone. HIV doesn’t discriminate based on how much money you have and whether you’re straight or gay. It can happen if you’re not safe.”


After she was diagnosed with HIV at age 3, Broadbent’s adoptive parents enrolled her in clinical trials for experimental HIV drugs, a move she said saved her life.


“They basically signed me up to be a human guinea pig,” she said, adding that many of her friends died from AIDS in the 1990s. “By the grace of God, I’m still here.”


Despite advances in HIV testing and treatments, AIDS still kills nearly 18,000 Americans each year, according to the CDC. Part of the problem is that one in five people living with HIV is unaware, according to the Magic Johnson Foundation.


That’s why Nov. 7 is “Point Forward Day,” an awareness event named after Johnson’s role as both point guard and forward with the L.A. Lakers created to educate people about HIV and encourage them to get tested so they can get treated.


“It’s about finding out early, but it’s also about education, because there are still so many myths out there,” the foundation’s Williamson said. “HIV doesn’t have to happen to you when you make the right decisions and practice safe sex.”


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How Romney Can Win Pennsylvania

























If public polls of battleground states are accurate, Mitt Romney doesn’t have a viable path to the 270 electoral votes he needs to win the White House. To expand the map, he’s making a late push for Pennsylvania with a campaign stop on Sunday. Why Pennsylvania? It’s a Midwestern state. He hasn’t been pummeled by ads there. And Pennsylvania’s 2o electoral votes would make up for Ohio’s 18 that Romney needs but appears on track to lose. But there’s a reason he didn’t try earlier: Obama won it 54-44 in 2008.


Still, Republicans can and do thrive there. Romney’s runner-up for the GOP nomination, Rick Santorum, was a two-term Pennsylvania senator, and the governor, Tom Corbett, is also a Republican. To find out how Romney could win, I called John Brabender, strategist for both men.





















For Romney to win, Brabender said, four things would have to fall into place. First, turnout in the Democratic stronghold of Philadelphia would need to disappoint. That’s not inconceivable. “Anecdotally, there doesn’t seem to be the same enthusiasm that there was four years ago,” he said. “I’ve talked to a number of Democrats on the ground in Philadelphia and think the assumption is that no one thought it would be in play, so they never did the ground work you need to do.” But neither did Republicans.


Second, Romney would need to perform well in the collar counties of Philadelphia, which have a large number of pro-choice, moderate women who will support the right kind of Republican. This is one of the state’s two distinct blocs of swing voters. “Romney needs to pick up a decent share of those votes,” says Brabender, “and to do that, he’ll have to be seen as more moderate than some previous Republican candidates, such as President Bush.”


Third, Romney would need to win the other swing bloc, conservative male Democrats concentrated in the Western part of the state around Pittsburgh, Johnstown, and Erie. Once known as “Reagan Democrats,” they’re older, blue-collar, and socially conservative. “They’re the type of people who cling to their guns and religion, as Obama put it, and wear that as a badge of honor, not as a criticism,” Brabender says. Culturally speaking, Romney isn’t their ideal candidate. “That’s where the battle is raging over the ’47 percent’ tape. If you think of the election like ‘It’s a Wonderful Life,’ Obama’s trying to make Romney into Mr. Potter and Romney’s trying to present himself as George Bailey. [Winning this bloc] could hinge on which character they decide Romney really is.”


Fourth, Romney needs to win (probably overwhelmingly) the 12 percent of voters that Brabender says are true independents and generally vote against the party in power.


One advantage Romney has in Pennsylvania is that it has one of oldest populations in the country. Allegheny County (Pittsburgh) often competes with counties in Florida for that honor. Romney performs best with elderly voters — and could perform even better here. “Normally, the Democrats would have run a month’s worth of television saying Republicans were coming to destroy Medicare and Social Security,” Brabender says. “But because Pennsylvania hasn’t been targeted, that air war hasn’t happened. So I don’t think you’ll see as much of a dent in the Republican’s armor from seniors.”


To understand what kind of Republicans do and don’t win in Pennsylvania, Brabender pointed to 2000. Rick Santorum was reelected by six points, while George W. Bush lost by six points. Santorum won 25 percent of Democrats — mainly the Western Democrats Bush couldn’t carry. In 2006, Santorum won only 8 percent of Democrats, and lost his bid for re-election.


Based on public and private polling data, Brabender believes that Pennsylvania is “a 3- or 4-point race.” (A Public Policy Polling survey released Saturday night had Obama up 52-46.) There is a path to victory, he says, but it’s a difficult one. “All those things have to come true for Romney to win,” he says. Even if they do, Republican presidential candidates have a history of disappointment. “Pennsylvania often looks better than it is,” he says, “and then, at the end, it changes.”


Businessweek.com — Top News



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Brazil’s ‘pop-star priest’ gets mammoth new stage

























SAO PAULO (AP) — Brazil‘s “pop-star priest” is already packing in the crowds at the newly opened mammoth sanctuary that he built for his campaign to stem the exodus of faithful from the Roman Catholic Church in Latin America’s biggest nation.


Brazil still has more Catholics than any other country in the world, with about 65 percent of its 192 million people identifying themselves that way in the 2010 census. But that is down from 74 percent in 2000 and is the lowest since records began tracking religion 140 years ago.





















That’s where Father Marcelo Rossi‘s Mother of God sanctuary comes in. The not-yet-finished structure will seat 6,000 people and have standing room for 14,000 more, church leaders say. In addition, the grounds outside can hold 80,000 people who could watch Mass on outdoor video screens.


After the inaugural Mass on Friday attracted upward of 50,000 people, a beaming Rossi told reporters: “They couldn’t all fit in. There was a crowd that had to stand outside! That’s a sign we’re on the right path, and it’s this sanctuary.”


Similar numbers jammed into the huge church Saturday.


It’s a fitting stage for Rossi, a Latin Grammy-nominated singer who is known for tossing buckets of holy water on worshippers and performing rollicking Christian songs backed by a blasting live band during Mass.


The church sits on 323,000 square feet (30,000 square meters) of land. Church officials declined to confirm how big the actual building is, though local reports put it at 91,500 square feet (8,500 square meters). That would make it one of the world’s 10 biggest churches. A cross soaring 138 feet (42 meters) into the air is the focal point.


The Mother of God sanctuary is anything but traditional. Designed by noted Brazilian architect Ruy Ohtake, it has a wide-open layout giving it the feel of a warehouse. Concrete walls hold up a sloping blue roof that from the outside looks more like a basketball arena than a house of worship. With the church several years away from completion, white plastic chairs were in the place of pews for a lucky few thousand to grab a seat. The rest had to stand.


Rossi dismisses the idea his huge church is a response to the explosion of the evangelical Christian faith in Brazil. Rather, the priest seems to be battling what recent studies indicate is Catholicism’s biggest enemy: indifference.


While millions of Brazilian Catholics joined Pentecostal congregations in the 1990s, a study conducted last year by Brazil’s Getulio Vargas Foundation based on census data found that the Catholics leaving the church these days are mostly becoming nonreligious. Experts have said the trend of Brazilians deciding organized religion isn’t for them poses a more potent threat to Catholic leaders than losses to the Pentecostals.


Rossi chose to open his new church on the Brazilian holiday of Finados, the nation’s version of the Day of the Dead. “A day, a day that was dead, was transformed!” the priest told worshippers during the service, using his gold-plated microphone.


The “pop-star priest” is seen by Brazilian Catholicism as its biggest weapon against the lack of interest, and his new sanctuary adds to his tools of best-selling books and music recordings to keep worshippers interested in what many complain has become a staid institution.


There was nothing stale about his Mass on Friday.


Singing as loud as they could, waving white hankies and swaying with a rocking band, the 20,000 people who jammed into the Mother of God sanctuary hammed it up for TV cameras and shed tears down their cheeks as their superstar priest waved to them from the pulpit. An estimated 30,000 other people had gathered outside, where young boys climbed up into nearby trees trying to get a glimpse of the church grounds as they squinted over a sea of heads streaming out of the sanctuary.


“We have problems, everyone has problems,” worshipper Zuleima de Oliveira Sales said as she stood in the tightly packed sea of people under the soaring blue roof of the structure, her voice choking. “They don’t come to an end, but I have faith, I have faith in Our Lady.”


That’s the sort of belief the Catholic Church is counting on in Brazil and other developing nations. Leaders from the Vatican on down are looking to them as bulwarks against losses in Europe and the U.S., where sex abuse scandals have inspired many people to leave the church. About half of the world’s Catholics live in Latin America.


Pentecostalism was once seen as a major threat to Brazil’s Catholic Church. Pentecostal churches, many of them founded by U.S. evangelicals, saw their membership double to more than 12 percent of the country’s population over the 1990s, with about half of the congregants estimated to be former Catholics.


During the 1990s, Brazil’s economy suffered from hyperinflation and other woes, and Pentecostal churches aggressively recruited in the slums and poor outskirts of Brazil’s cities by offering nuts-and-bolts self-improvement advice as well as Christian ministry.


Since 2003, however, Pentecostal churches have seen growth slow. The percentage of Brazilians calling themselves Pentecostals edged up from 12.5 percent of the population to 13.3 percent.


Yet the Catholic Church has continued to lose parishioners, and church leaders have had little success so far in halting that trend.


Brazil was the first nation outside Europe that Pope Benedict XVI visited, during a five-day tour in 2007 largely aimed at stopping losses in Latin America. During the trip, the pope canonized Brazil’s first native-born saint.


Then Benedict announced last August during the church’s World Youth Day, which drew 1.5 million people to Spain, that the next version of the gathering would be held in Rio de Janeiro in 2013. The pope is expected to attend.


For now, Rossi hopes his big church will bring together tens of thousands of faithful for every Mass, giving new energy to the Catholic faith.


“People want big spaces. They want grand places for prayer,” he told the Globo TV network. “One candle illuminates, 10 candles illuminate — and 100,000 candles light up so much more.”


Latin America News Headlines – Yahoo! News



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Foxx, Wonder among stars honoring Eddie Murphy

























LOS ANGELES (AP) — However riotous the Eddie Murphy stories from Arsenio Hall, Tracy Morgan, Adam Sandler and Russell Brand, the highlight of Spike TV‘s tribute to Eddie Murphy was the comedian’s duet with Stevie Wonder.


Murphy joined the subject of one of his most classic impressions for a rousing rendition of Wonder’s 1973 hit “Higher Ground” during the taping of the Spike TV special “Eddie Murphy: One Night Only,” which is set to air Nov. 14. The Roots served as the house band.





















Jamie Foxx, Tyler Perry, Martin Lawrence, Chris Rock and Keenan Ivory Wayans were also among those paying tribute to Murphy Saturday at the Saban Theater.


Accompanied by a pretty blonde, Murphy beamed throughout the two-hour program Saturday, saying he was touched by the tribute.


“I am a very, very bitter man,” he said with a beguiling smile. “I don’t get touched easily, and I am really touched.”


Morgan called Murphy “my comic hero” and came onstage wearing a replica of Murphy’s red leather suit from his standup show “Delirious.”


“He set the tone for the whole industry a long time ago,” Morgan said before Saturday’s tribute. “He inspired me in a fearless way.”


Sandler said he was still in high school when he first saw “Delirious,” which he described as “one of the most legendary standup specials of all time.”


“Everybody on the planet wanted to be Eddie,” he said. “He funnier than us. He’s cooler than any of us.”


Samuel L. Jackson said Murphy “changed the course of American film history” by giving Jackson his first speaking role on the big screen, in 1988′s “Coming to America.”


“If it weren’t for Eddie, we might not have all the wonderful films that I’ve made,” Jackson said.


“He is a true movie star,” Jackson continued, lauding Murphy’s performance in “48 Hours” and “Beverly Hills Cop.” ”You became an inspiration for all young African-American actors.”


The program featured clips of Murphy’s standup shows, his film appearances in “Shrek” and “Nutty Professor” and his work on “Saturday Night Live.”


Murphy insisted before the tribute that he is retired.


“I’m just a retired old song and dance man,” he said, adding that he only makes rare appearances these days. “That’s what you do when you’re retired: You come out every now and then and talk about the old days.”


The 51-year-old entertainer took the stage at the conclusion of the tribute to say that he was moved by the honor.


“This is really a touching moving thing, and I really appreciate it,” he said. “You know what it’s like when you have something like this? You know when they sing happy birthday to you? It’s like that for, like, two hours… and I am Eddied out.”


___


Follow AP Entertainment Writer Sandy Cohen on Twitter at www.twitter.com/APSandy.


Entertainment News Headlines – Yahoo! News



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Sanofi considered moving headquarters abroad: report

























PARIS (Reuters) – Sanofi‘s management considered moving its headquarters abroad in the last few months but the plan was nixed by the drugmaker’s chairman, French weekly Le Journal du Dimanche reported on Sunday, citing sources close to the board.


First mooted in July, when the Socialist government was preparing to introduce a 75 percent tax on top earnings, the plan envisaged moving the headquarters to London or the United States, or at least relocating Chief Executive Chris Viehbacher and his closest associates abroad.





















However, Chairman Serge Weinberg vetoed the project, the newspaper said, saying that Viehbacher had not raised the issue with him.


A Sanofi spokesman denied such plans were discussed and said the company’s recent move to new corporate headquarters in Paris showed its commitment to its base in the city.


Several of the company’s top executives are foreign and spend most of their time travelling abroad.


In addition to German-Canadian Viehbacher, they include Elias Zerhouni, an Algerian-born American in charge of research and development, and Hanspeter Spek, the German-born president of global operations.


Italian Roberto Pucci, senior vice president of human resources, and Karen Linehan, Sanofi’s American-born general counsel, are also part of the executive committee.


Sanofi, which is reshuffling its French research operations at a cost of around 900 jobs, would not be the first French firm to consider moving top executives overseas.


French industrial conglomerate Schneider Electric has kept its headquarters near Paris, but its top managers, including Chief Executive Jean-Pascal Tricoire, relocated to Hong Kong last year in a move to be closer to fast-growing markets in Asia.


Industry Minister Arnaud Montebourg, who has opposed the reorganization of Sanofi’s research activities in France, was cited by the newspaper as saying he hoped the plan was just a rumor.


(Reporting by Elena Berton; Editing by Hugh Lawson)


Health News Headlines – Yahoo! News



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Worries over basic bank accounts


























A watchdog has claimed that “dark clouds” are gathering for the future of simple bank accounts designed for vulnerable and low-income customers.





















Consumer Focus said that basic bank accounts – assisting those with chequered credit histories – have been a success for the banking industry.


But it warned that a minimum standard was needed to ensure they survived.


The Treasury Committee has sought reassurance that ATM access for these customers will not be restricted.


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One in five UK adults have a basic bank account as their only or main account, according to Consumer Focus. They were first offered about a decade ago and have most commonly been used by people needing an account to allow their wages to be paid.


These accounts do not offer overdrafts. Some have a debit card, but with only limited facilities and no chequebook. They do not incur a monthly fee.


There are about 20 basic bank accounts available. They have tended to be used by people who have experienced difficulties with credit in the past and so are turned down when applying for a regular current account.


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These are simple accounts which allow customers to have their wages, benefits, and cheques paid in.


Customers can gain access to their money from some cash machines, or the Post Office.


Bills can be made by direct debit from the account, but these accounts offer no overdraft facility or access to credit – unlike most standard current accounts.



However, only Barclays allows undischarged bankrupts to sign up, after the Co-op withdrew from this market in September.


Meanwhile, RBS and NatWest joined Lloyds Banking Group in withdrawing access for basic bank account holders to the Link cash machine network.


Consumer Focus said that action was needed from all banks and building societies to ensure there were no further restrictions of basic bank accounts in the future.


It is calling for minimum standards for basic accounts that include:


  • Full cash machine and Post Office counter access

  • Free electronic payments and debit card use

  • Buffer zones to cover small overdrafts

  • No large fees for unpaid charges

“The last thing these consumers need is a race to the bottom between banks which keep chipping away at the features these accounts offer,” said Mike O’Connor, chief executive at Consumer Focus.


“Without intervention, these accounts could become less useful or more expensive for low-income consumers.”


The Co-operative Bank, which blamed an “un-level playing field” for pulling out of offers to undischarged bankrupts, has also expressed its fear that the standards for basic bank accounts will continue to deteriorate.


Cash machine access


In tandem with the campaign from Consumer Focus, the Treasury Committee said providers including Bank of Ireland, Clydesdale and Yorkshire Bank, the Co-op and Nationwide had confirmed they had no plans to restrict cash machine access for basic bank account customers.


Similar undertakings were given by Barclays, HSBC and Santander during the committee’s inquiry into ATM access earlier this year.


“We have now obtained confirmation from other providers of basic bank accounts that they have no plans to restrict access to cash machines for these customers. That is a step forward,” said Andrew Tyrie, who chairs the committee.


“However, the letters that I received make clear that this might change. That RBS and Lloyds should want to cut their costs is understandable. But the cash machine network is a cost shared by all banks; if one bank decides to withdraw from the system, it is more likely that others would be forced to follow suit.”


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