Chinese smartphone makers Huawei, ZTE target top tier

BARCELONA (Reuters) – China’s Huawei, little known to consumers just a couple of years ago, is now leading the pack of smartphone makers chasing Apple and Samsung, with ZTE, another Chinese company, snapping at its heels.

Huawei, which sold 32 million smartphones in 2012, up 60 percent on 2011, unveiled its new flagship Ascend P2 smartphone in Barcelona, boasting a connection speed of 150 MB per second, the fastest on the market.

The company was third in smartphone sales in the final quarter of 2012, according to research firm IDC, with ZTE in fifth place and Sony sandwiched in between. Samsung and Apple, however, were far in front with half the market between them.

Wan Biao, chief executive of Huawei Device Co, said the Ascend P2′s faster download speeds would make a difference to customers using 4G networks in countries such as Japan.

The device also includes power-saving technology, developed using expertise from its networks business, which Biao said helped it stand out against other high-end phones running Google’s Android software.

“Our target is for Huawei to provide the best smartphones in the world, better than the iPhone, better than Samsung,” he said in an interview on Monday. “Our target is top three in market share.”

Huawei, which became established by selling unbranded phones to operators, said the Ascend P2 would be available from the second quarter priced at 399 euros, hundred of euros less than flagship devices from its rivals.

Biao said that the company was still establishing itself as a brand in the minds of consumers, so its phones did not attract high subsidies from network operators.

“Operators give a high subsidy to Samsung and Apple,” he said. “We have a very high quality product but the price we set is not as high as these two smartphones; we have to develop differentiated products.”

Analyst Carolina Milanesi at Gartner said the Ascend P2 was a notable step forward for the Chinese company, showing a focus on the most important aspects for consumers, such as speed, an impressive screen and longer battery life.

ZTE, which also developed its technology by making devices for others, is equally ambitious. On Monday, it said it expected to increase smartphone revenue by 30 percent this year.

“We at ZTE consider ourselves as not tier one yet, we see ourselves as tier two, comparable to HTC, Sony and Motorola,” He Shiyou, head of mobile services division, said in an interviewer via a translator. “We have to be as aggressive as possible.”

He said ZTE would reduce its product range to achieve larger sales of fewer models, and focus on the strongest markets for smartphones – the United States, China, Europe and Australia.

It previously took ZTE six months to catch up with the Samsung’s software and hardware specifications, he said, but now it only took a quarter. “We need to close that gap,” he said.

“By 2015, we are hoping to achieve the top three by market share, but in terms of branding image and also pricing segmentation, we want to reach the top five,” he said.

ZTE unveiled a 5.7 inch Grand Memo handset in Barcelona, firmly in the “phablet” screen dimensions that Samsung has popularized in its Note range, and the ZTE Open, a smartphone running on Mozilla’s Firefox OS open ecosystem.

(Reporting by Paul Sandle; Editing by Tim Dobbyn)

Wireless News Headlines – Yahoo! News

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Norah Jones Snaps Exclusive Oscar Photos for PEOPLE

02/25/2013 at 05:30 PM EST

Norah Jones and Sarah Oda

Courtesy Norah Jones

Talk about a whirlwind day!

Singer Norah Jones shared her first-ever Oscar experience with PEOPLE, snapping exclusive shots as she prepared to walk the big red carpet.

Jones, 33, decided to make it a Hollywood weekend, staying in the Roosevelt Hotel right across from the Dolby Theatre, getting ready with pal Sarah Oda.

After conquering the carpet, Jones took the stage to perform the nominated Best Original Song "Everybody Needs a Best Friend" from Ted.

But the busy singer couldn't even enjoy the evening's parties, as she jetted off to Singapore for work directly from the ceremony.

For more on Norah's night and all the details on Hollywood's biggest night, pick up the new issue of PEOPLE, on newsstands Friday.

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.

Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.

Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.

"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.

Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.

But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.

National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.

"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

OPTIONS BULLS TARGET GAINS

The spending cuts, if they go ahead, could hit the defense industry particularly hard.

Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.

Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.

"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.

The stock ended up 0.6 percent at $88.12 on Friday.

If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.

General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.

EYES ON GDP DATA, APPLE

The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.

U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.

Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.

Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.

On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.

(Additional reporting by Doris Frankel; Editing by Kenneth Barry)

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Syrian opposition says captures former nuclear site

AMMAN (Reuters) - Syrian rebels have captured the site of a suspected nuclear reactor near the Euphrates river which Israeli warplanes destroyed six years ago, opposition sources in eastern Syria said on Sunday.

Al-Kubar site, around 60 km (35 miles) west of the city of Deir al-Zor, became a focus of international attention when Israel raided it in 2007. The United States said the complex was a North Korean-designed nuclear reactor geared to making weapons-grade plutonium.

Omar Abu Laila a spokesman for the Eastern Joint Command of the Free Syrian Army said the only building rebels found at the site was a hangar containing at least one Scud missile.

"It appears that the site was turned into a Scud launch base. Whatever structures it had have been buried," he said, adding that three army helicopters airlifted the last loyalist troops before opposition fighters overran the area on Friday.

The Syrian military, which razed the site after the Israeli raid, said the complex was a regular military facility but refused to allow the International Atomic Energy Agency unrestrained access, after the agency said the complex could have been a nuclear site.

The U.N. investigation appears to have died down since the national revolt against Preident Bashar al-Assad broke out in 2011, with the armed opposition increasingly capturing military sites in rural areas and on the edges of cities.

U.N. inspectors examined the site in June 2008 but Syrian authorities has barred them access since.

Abu Laila said Scuds appear to have been fired from Kubar at rebel-held areas in the province of Homs to the west.

The complex, he said, had command and control links with loyalist troops in the city of Deir al-Zor, where Assad's forces have been on the retreat and are now based mainly in and around the airport in the south of the city.

Footage showed fighters inspecting the site and one large missile inside a hangar. One fighter pointed to what he said were explosives placed under the missile to destroy it before attacking forces got to it.

Abu Hamza, a commander in the Jafaar al-Tayyar brigade, said in a YouTube video taken at Kubar that various rebel groups, including the al Qaeda linked al-Nusra front, took part the operation and that U.N. inspectors were welcome to come and survey the site.

In the last few months, opposition fighters have captured large swathes of the province of Deir al-Zor, a Sunni Muslim desert oil producing region that borders Iraq, including most of a highway along Euphrates leading to Kubar.

The province is far from the Assad's main military supply bases on the coast and in Damascus. Long-time alliances between Assad, who belongs to the minority Alawite sect, an offshoot of Islam, and Sunni tribes in Deir al-Zor have also largely collapsed since the revolt.

But Assad's forces remain entrenched in the south of the city of Deir al-Zor and armed convoys guarded by helicopters still reach the city from the city of Palmyra to the southwest, according to opposition sources.

(Editing by Stephen Powell)

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Microsoft to reportedly unveil next Xbox at April event

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Daniel Radcliffe Dances to Nelly in West Hollywood

Caught in the Act

02/24/2013 at 04:00 PM EST

We're not in Hogwarts anymore.

Daniel Radcliffe made an unexpected appearance at Bootsy Bellows in West Hollywood on Friday night. Arriving with a male pal around 1:40 a.m., the Harry Potter star was "in party mode but really friendly," an onlooker tells PEOPLE.

Wearing a long-sleeved black shirt and jeans, the actor hung out at a table in the club's back VIP room, where he made himself vodka cocktails.

As DJ BeeFowl spun hit after hit, Radcliffe "started singing and dancing at the table to Nelly's 'Country Grammar' and 'Ride Wit Me'," the source adds. "He introduced himself to people at his table casually as 'Dan.' "

As the evening progressed, Girl Meets World star Ben Savage chatted up Radcliffe and the two shared a laugh.

The next song to make Radcliffe dance was Nirvana's "Smells Like Teen Spirit."

The source adds, "He was very happy-go-lucky," and Radcliffe "posed for a few photos and stayed at the club until closing time."

– Jennifer Garcia

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FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

Read More..

Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.

Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.

Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.

"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.

Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.

But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.

National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.

"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

OPTIONS BULLS TARGET GAINS

The spending cuts, if they go ahead, could hit the defense industry particularly hard.

Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.

Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.

"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.

The stock ended up 0.6 percent at $88.12 on Friday.

If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.

General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.

EYES ON GDP DATA, APPLE

The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.

U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.

Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.

Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.

On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.

(Additional reporting by Doris Frankel; Editing by Kenneth Barry)

Read More..

Tens of thousands in Spain protest economic policy, corruption

MADRID (Reuters) - Tens of thousands of Spaniards marched through cities across the country on Saturday to protest deep austerity, the privatization of public services and political corruption.

Gathering under the banner of the "Citizen Tide", students, doctors, unionists, young families and pensioners staged rowdy but non-violent demonstrations as a near five-year economic slump shows no sign of recovery and mass unemployment rises.

"I'm here to add my voice. They're cutting where they shouldn't cut; health, education ... basic services. And the latest corruption scandal is just the tiniest tip of a very large iceberg," said Alberto, 51, an account administrator for a German multinational in Madrid, who preferred not to give his surname.

Protests in Spain have become commonplace as the conservative government passes measures aimed at shrinking one of the euro zone's highest budget deficits and reinventing an economy hobbled by a burst housing bubble.

Prime Minister Mariano Rajoy has introduced some of the deepest budget cuts in Spain's democratic history in an attempt to convince investors the country can weather the economic crisis without falling back on international aid.

But, with more than half of the country's young people out of work and growth not expected until sometime next year, the measures have only scratched the surface of the budget shortfall which is expected to be more than double the target in 2014.

Meanwhile, corruption scandals which have hit the ruling party as well as the once-popular royal family has left many Spaniards disenchanted with their leaders on all sides of the political spectrum.

In Madrid, under a clear, cold winter sky, Saturday's marches convened from four different points by early evening in Neptune Square, between the heavily policed and barricaded parliament, the Ritz Hotel and the stock exchange.

Carrying placards which condemned everything from cuts in the health sector to massive bailouts granted to Spain's banking system, crowds banged drums and chanted, while dozens of riot police stood on the sidelines.

The march coincided with the anniversary of a failed coup attempt in 1981 by Civil Guard officers who stormed Parliament and held deputies hostage until the next day.

(Reporting By Paul Day; Editing by Jason Webb)

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