“Les Miserables” movie relies on close-ups for emotional punch

NEW YORK (Reuters) – For British director Tom Hooper, the key to turning “Les Miserables” from the wildly popular stage musical to a cinematic experience both sweeping and intimate, was all in the close-up.

The stage musical has left audiences around the world wiping away tears with its themes of justice, redemption and romantic and familial love. So bringing it to life on screen for fans and filmgoers was “hugely daunting,” Hooper says.

Still, the Oscar-winning director of “The King’s Speech,” was ambitious, wanting to offer even more of the “intense emotional experience” that has kept fans returning to various stage productions since “Les Miserables” made its English language debut 27 years ago.

“I felt very aware of the fact that so many millions of people hold this close to their hearts and would probably sit in the cinemas in complete fear,” Hooper told reporters about his big screen take on the tale of French revolutionaries rising up against powerful forces.

Movie stars Hugh Jackman, Russell Crowe and Anne Hathaway were all put through an intense audition and rehearsal process, to make sure they could sing take after take, live, with cameras positioned right in their face.

It also features a large ensemble including Amanda Seyfried and Eddie Redmayne, as well as Sacha Baron Cohen and Helena Bonham Carter who lead the comic relief song, “Master of the House.”

“I thought the great weapon in my arsenal was the close up, because the one thing on stage that you can’t enjoy is the detail of what is going on in people’s faces as they are singing,” Hooper said. “I felt (that) having to do a meditation on the human face was by far the best way to bring out the emotion of the songs.”

That tactic may or may not have paid off for a movie that is seen as one of the front runners for Oscar awards in February. Early screenings of the film that opens on Christmas Day have moved some audiences. Critics have praised the performances, but given the movie as a whole less than top marks.

The movie reunites the same team that worked on the original musical, including French composer Claude-Michel Schonberg, lyricist Alain Boublil, and English language adapter Herbert Kretzmer. It adds one original song to the existing show, which includes the well-known “I Dreamed a Dream”.

Jackman plays petty thief Jean Valjean, the protagonist of the story based on French writer Victor Hugo’s epic 1862 historical novel “Les Miserables.” Valjean transforms himself into a respected businessman but struggles for decades to escape the clutches of his nemesis, police inspector Javert (Russell Crowe), and along the way encounters factory worker Fantine (Anne Hathaway).

TIMELY MESSAGE

Inspired by films such as 1991′s “The Commitments,” singing was filmed live rather than later recorded in a studio to give the movie a more authentic feel.

Hathaway lost 25 pounds (11.3 kg) for the role and cut her long brown hair. She spent six months perfecting the task of crying and singing at the same time for “I Dreamed a Dream” and is a hot favorite for a best supporting actress Oscar.

In a twist of fate, Hooper had initially seen Hathaway singing to Jackman a boisterous version of the “Les Miserables” song “On My Own” at the 2011 Academy Awards ceremony, just when he was trying to decide whether to direct the film and was thinking about casting.

“I was sitting there, going: ‘There is something very strange happening’,” he joked. “Whatever happened, it certainly worked, because I ended up casting both of them.”

Hooper said he took his inspiration mostly from Hugo’s novel rather than any one stage production, and thus saw Crowe’s Javert more as a “deeply honorable” character than a simplistic “bad guy” as portrayed in some productions.

The time also felt right, he said, to bring the story to a larger audience on the big screen.

“There are so many people hurting around the world because of social, economic, inequality and inequity. There is such anger against the system,” he said, “whether it’s the protests on Wall Street or in London at St Paul’s, or the seismic shifts happening in the Middle East.”

“‘Les Miserables’ is the great advocate of the dispossessed,” Hooper said. “It teaches you the way to collective action is through passionate engagement with the people around you. It starts with love for the person next to you.”

(Editing by Jill Serjeant and David Storey)

Movies News Headlines – Yahoo! News

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Economic impact of Canada retail sales jump seen small

OTTAWA (Reuters) – Canada retail sales in October jumped by a stronger-than-expected 0.7 percent from September to hit a record, but analysts said the figures were less impressive than they seemed and would not do much to boost recent sluggish economic growth.

Statistics Canada said on Thursday that retail sales in October reached C$ 39.45 billion ($ 39.85 billion), the third consecutive all-time high. Sales have now grown for four straight months.

But analysts, who had expected a month-over-month increase of 0.2 percent, noted that in volume terms sales were only up by 0.3 percent.

This, they predicted, would not have a major effect on October gross domestic product data due out on Friday. The consensus forecast is for a 0.1 percent increase.

“It’s volume that matters to GDP such that while the (October) gain was positive, it will translate into GDP much less powerfully than the headline would suggest,” Scotiabank economists Derek Holt and Dov Zigler said in a note to clients.

Canada’s economy grew at a sluggish 0.6 percent pace, annualized, in the third quarter. Although the Bank of Canada is predicting fourth-quarter growth of 2.5 percent, annualized, that looks to be too optimistic given exporters’ problems with weak markets and the strong Canadian dollar.

The retail sales data helped push the Canadian dollar up to a session high of C$ 0.9875 versus the U.S. dollar, or $ 1.0127, compared with C$ 0.9890, or $ 1.0111, before the release. It later slipped back and at 10:05 a.m. (1505 GMT) was trading at C$ 0.9893, or $ 1.0111.

In October, gains were reported in eight of 11 subsectors, representing 92 percent of retail trade.

On annualized terms, fourth-quarter retail sales growth so far is an anemic 0.6 percent, compared with the 2.2 percent rise recorded in the third quarter.

Benjamin Reitzes, senior economist at BMO Capital Markets, also noted sales growth from October 2011 was just 1.7 percent, matching June’s figure and the second-lowest since Canada emerged from recession.

“Underlying sales continue to slow, which has been the story for much of the past year, as modest job growth, warnings about over-indebtedness and the allure of cross-border shopping weigh on retailers,” he said in a note to clients.

Sales at motor vehicles and parts dealers grew by 1.6 percent on the back of a 1.6 percent increase in sales by new car dealers, who posted a fifth consecutive monthly gain. Sales at gasoline stations also advanced by 1.6 percent.

Food and beverage store sales were up by 0.5 percent. Furniture and home furnishings store sales fell by 2.0 percent while electronics and appliance stores recorded a decline of 1.6 percent.

(Editing by Nick Zieminski)

Economy News Headlines – Yahoo! News

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Talking Cars Will Allow Aging Baby Boomers to Focus Like Young Drivers, Agero Study Finds

DALLAS, Dec. 20,  2012 /PRNewswire/ – Within the next 10 years, retiring Baby Boomers over the age of 65 will constitute more than one-third of the registered drivers on U.S. roads. A majority of those individuals behind the wheel will be driving vehicles increasingly loaded with digital connectivity and content designed to lure a generation of buyers accustomed to smartphones and tablets.

With mounting concern in recent years about driver distraction resulting from the increased use of in-vehicle technology, will the risk of driver distraction only escalate as these newly-retired drivers, faced with changing sensory perceptions, adapt to their digital environments?

Not to worry. Senior citizens on average may not be as technology savvy as their Gen Y counterparts, but a recent study measuring driver distraction finds that interactive speech technology can help them interface with navigation systems while driving just as safely as younger drivers.

Agero Connected Services, a leading provider of cloud-delivered content, services, and driver interfaces to global automobile manufacturers, and the Virginia Tech Transportation Institute (VTTI) teamed up to conduct the research. They found seniors aged 65 to 75 closely maintained driving performance comparable to drivers aged 18 to 30 when cloud-based speech recognition technology was used to access directions and other destination information. In contrast, when asked to perform the same task using a visually and manually dependent navigation device common in today’s market, senior drivers were six times more likely to veer out of their driving lane.

“Using either a speech-only interface or a speech interface combined with brief glances to a display screen helped senior drivers improve their driving and leveled the performance gap between the two generations,” said Tom Schalk, Agero’s vice president of Voice Technology.

Similar results were recorded when both age groups were required to detect perepheral events while driving and searching for information. Peripheral sight engagement is an important element in driver distraction. Using the aftermarket navigation device, Gen Y drivers detected 95% of the peripheral signals while the seniors detected only 74%. When speech solutions were introduced, seniors were able to spot 94% of the signals, just slightly below the younger drivers’ percentage.

Vehicle connectivity and infotainment content are often introduced or enhanced in high-end vehicles purchased by middle-aged and senior drivers. Findings from the Agero/VTTI study indicate that integrating natural language speech technology with vehicle infotainment systems diminishes the general safety concern that seniors are vulnerable to distractions from new technology.

Seniors participating in the test indicated a preference for speech systems in their personal vehicles, which also contradicts the common notion that technology-averse drivers will avoid its use, even if the interface is simple and easy to use.

About Agero

Agero Connected Services (ACS) is a leading provider of private-labeled, connected vehicle services for the automotive, insurance, and aftermarket industries. Based in Dallas, Texas, ACS launched the connected car market over 15 years ago and has led the development and management of systems for over 11 global automotive brands. ACS is a division of Medford, Mass.-based Agero, Inc., the leader in roadside assistance, claims management, and emergency services in the automotive and insurance industries. For more information, visit www.agero.com. 

Yahoo! Finance – Personal Finance | Insurance

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Wall Street flat amid stalemate in fiscal talks

NEW YORK (Reuters) - U.S. stocks were little changed on Thursday as investors fretted that a deal on the U.S. budget wouldn't come as soon as they had hoped after President Barack Obama threatened to veto a controversial Republican plan.

NYSE Euronext was the star of the day, surging more than 30 percent as the S&P 500's top percentage gainer, after IntercontinentalExchange Inc said it would buy the operator of the New York Stock Exchange for $8.2 billion.

NYSE was up 32.8 percent at $31.95, while ICE shares vacillated between gains and losses. The stock was last down 0.8 percent at $127.22.

The market barely reacted to a round of strong data, including an upward revision of gross domestic product growth and stronger-than-expected home sales, suggesting talks to avert the "fiscal cliff," steep tax hikes and spending cuts due in 2013, remain the primary focus for markets.

Republicans in the U.S. House of Representatives pushed ahead with their own fiscal plan in a move that muddles negotiations with the White House. Obama has vowed to veto the plan.

While investors have hoped for an agreement to come soon between policy makers, this seems unlikely as wrangling continues over the details.

"At least in the posturing it looks as if there are ultimatums put on the table, which tends to box either side in," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

Still, the absence of a significant sell-off shows "the market still believes that there will be an announcement of some sort. But as the clock is ticking, the most you're going to get is a stop-gap measure," said Krosby.

The Dow Jones industrial average <.dji> edged down 3.77 points, or 0.03 percent, at 13,248.20. The Standard & Poor's 500 Index <.spx> added 1.12 points, or 0.08 percent, to 1,436.93. The Nasdaq Composite Index <.ixic> slipped 3.58 points, or 0.12 percent, to 3,040.78.

Stocks rallied earlier in the week on signs of progress in the negotiations, led by banking and energy shares, which tend to outperform in times of economic expansion. On signs of complications, however, many have turned to hedging their bets through options and exchange-traded funds.

Herbalife fell 5.3 percent to $35.35 in the wake of news that hedge fund manager Bill Ackman was betting against the company as part of his big end-of-the-year short.

The U.S. economy grew 3.1 percent in the third quarter, faster than previously estimated, while the number of Americans filing new claims for jobless benefits rose more than expected in the latest week.

"It is great to see this kind of growth, but investors know it could all disappear if there's no deal on the cliff," said Todd Schoenberger, managing partner at LandColt Capital in New York. "Macro data may be on the back burner for a while."

Existing home sales jumped 5.9 percent in November, more than expected, and by the fastest monthly place in three years. Housing shares <.hgx> gained 0.4 percent.

But KB Home slid 5.5 percent to $15.75 as the company reported higher homebuilding costs and expenses in the fourth quarter.

(Additional reporting by Ryan Vlastelica; Editing by Bernadette Baum and Nick Zieminski)

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Michael Phelps voted AP male athlete of year

Now that he's away from the pool, Michael Phelps can reflect — really reflect — on what he accomplished.

Pretty amazing stuff.

"It's kind of nuts to think about everything I've gone through," Phelps said. "I've finally had time to myself, to sit back and say, '... that really happened?' It's kind of shocking at times."

Not that his career needed a capper, but Phelps added one more honor to his staggering list of accomplishments Thursday — The Associated Press male athlete of the year.

Phelps edged out LeBron James to win the award for the second time, not only a fitting payoff for another brilliant Olympics (four gold medals and two silvers in swimming at the London Games) but recognition for one of the greatest careers in any sport.

Phelps finished with 40 votes in balloting by U.S. editors and broadcasters, while James was next with 37. Track star Usain Bolt, who won three gold medals in London, was third with 23.

Carl Lewis is the only other Olympic-related star to be named AP male athlete of the year more than once, taking the award for his track and field exploits in 1983 and '84. The only men honored more than twice are golf's Tiger Woods and cyclist Lance Armstrong (four times each), and basketball's Michael Jordan (three times).

"Obviously, it's a big accomplishment," Phelps said. "There's so many amazing male athletes all over the world and all over our country. To be able to win this is something that just sort of tops off my career."

Phelps retired at age 27 as soon as he finished his final race in London, having won more gold medals (18) and overall medals (22) than any other Olympian.

No one else is even close.

"That's what I wanted to do," Phelps said. "Now that it's over, it's something I can look back on and say, 'That was a pretty amazing ride.'"

The current ride isn't so bad either.

Set for life financially, he has turned his fierce competitive drive to golf, working on his links game with renowned coach Hank Haney as part of a television series on the Golf Channel. In fact, after being informed of winning the AP award, Phelps called in from the famed El Dorado Golf & Beach Club in Los Cabos, Mexico, where he was heading out with Haney to play a few more holes before nightfall.

"I can't really complain," Phelps quipped over the phone.

Certainly, he has no complaints about his swimming career, which helped turn a sport that most Americans only paid attention to every four years into more of a mainstream pursuit.

More kids took up swimming. More advertisers jumped on board. More viewers tuned in to watch.

While swimming is unlikely to ever match the appeal of football or baseball, it has carved out a nice little niche for itself amid all the other athletic options in the United States — largely due to Phelps' amazing accomplishments and aw-shucks appeal.

Just the fact that he won over James shows just how much pull Phelps still has. James had an amazing year by any measure: The league MVP won his first NBA title with the Miami Heat, picking up finals MVP honors along the way, and then starred on the gold medal-winning U.S. basketball team in London.

Phelps already had won the AP award in 2008 after his eight gold medals in Beijing, which broke Mark Spitz's record. Phelps got it again with a performance that didn't quite match up to the Great Haul of China, but was amazing in its own right.

After the embarrassment of being photographed taking a hit from a marijuana pipe and questioning whether he still had the desire to go on, Phelps returned with a vengeance as the London Games approached. Never mind that he was already the winningest Olympian ever. Never mind that he could've eclipsed the record for overall medals just by swimming on the relays.

He wanted to be one of those rare athletes who went out on top.

"That's just who he is," said Bob Bowman, his longtime coach. "He just couldn't live with himself if knew he didn't go out there and give it good shot and really know he's competitive. He doesn't know anything else but to give that kind of effort and have those kind of expectations."

Phelps got off to a rocky start in London, finishing fourth in the 400-meter individual medley, blown out of the water by his friend and rival, Ryan Lochte. It was only the second time that Phelps had not at least finished in the top three of an Olympic race, the first coming way back in 2000 when he was fifth in his only event of the Sydney Games as a 15-year-old.

To everyone looking in, Lochte seemed poised to become the new Phelps — while the real Phelps appeared all washed up.

But he wasn't going out like that.

No way.

Phelps rebounded to become the biggest star at the pool, edging Lochte in the 200 IM, contributing to a pair of relay victories, and winning his final individual race, the 100 butterfly. There were two silvers, as well, leaving Phelps with a staggering resume that will be awfully difficult for anyone to eclipse.

His 18 golds are twice as many as anyone else in Olympic history. His 22 medals are four clear of Larisa Latynina, a Soviet-era gymnast, and seven more than the next athlete on the list. Heck, if Phelps was a nation, he'd be 58th in the medal standings, just one behind India (population: 1.2 billion).

"When I'm flying all over the place, I write a lot in my journal," Phelps said. "I kind of relive all the memories, all the moments I had throughout my career. That's pretty special. I've never done that before. It's amazing when you see it all on paper."

Four months into retirement, Phelps has no desire to get back in the pool. Oh, he'll swim every now and then for relaxation, using the water to unwind rather than putting in one of his famously grueling practices. Golf is his passion at the moment, but he's also found time to cheer on his hometown NFL team, the Baltimore Ravens, and start looking around for a racehorse that he and Bowman can buy together.

Phelps hasn't turned his back on swimming, either. He's got his name attached to a line of schools that he wants to take worldwide. He's also devoting more time to his foundation, which is dedicated to teaching kids to swim and funding programs that will grow the sport even more.

He's already done so much.

"His contribution to the way the world thinks about swimming is so powerful," Bowman said. "I don't think any other athlete has transformed his sport the way he's transformed swimming."

Phelps still receives regular texts from old friends and teammates, asking when he's going to give up on this retirement thing and come back the pool as a competitor.

He scoffs at the notion, sounding more sure of himself now than he did in London.

And if there's anything we've learned: Don't doubt Michael Phelps when he sets his mind on something.

"Sure, I could come back in another four years. But why?" he asked, not waiting for an answer. "I've done everything I wanted to do. There's no point in coming back."

___

Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963

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Is Newtown tipping point for change?

By Piers Morgan, CNN

December 20, 2012 -- Updated 1627 GMT (0027 HKT)

STORY HIGHLIGHTS

• Piers Morgan: Past gun-related tragedies haven't led to any action


• He says that must change, and he hosted a debate on the issue


• Morgan: Laws must be changed to limit weapons, ammunition and enforce background checks


• Rights of Americans who use guns for hunting and sport must be respected, he says

(CNN) -- On Wednesday night, I hosted a town hall-style debate on guns in America, talking to lawmakers, mass shooting survivors, lawyers, gun lobbyists -- anyone, basically, who has a strong opinion about what I consider to be the single biggest issue facing America today.

Since I joined CNN two years ago, there have been a series of gun-related tragedies, including the attack on U.S. Rep. Gabrielle Giffords and the Aurora, Colorado, movie theater massacre.

Each sparked a short-term debate about guns. Yet each debate fizzled out with zero action being taken to try and curb the use of deadly weapons on the streets of America.

Piers Morgan

Now, following the grotesque slaughter of 20 innocent young children at Sandy Hook Elementary School in Newtown, Connecticut, I sense that the mood has changed.

We have reached a crucial moment in this debate, and I intend to use my platform to continue this conversation on Wednesday night and going forward. The media have previously been quick to move on to other stories after these tragic acts of gun violence. That must change.

Opinion: Don't let this moment pass without acting on gun control

I've made my own views clear on my show -- the senseless killing has to stop. High-powered assault rifles of the type used at Aurora and Newtown belong in the military and police, not in civilian hands. High-capacity magazines, too, should be banned. And background checks on anyone buying guns in America should be comprehensive and stringently enforced.

As President Barack Obama said, doing nothing is no longer an option.

But, at the same time, law-abiding Americans who want to protect themselves under the Second Amendment right to bear arms must be respected. As should the rights of Americans to use guns for hunting and sport.

This is a vital debate for the country. Some 12,000 people are murdered in the United States with guns every year, compared with just 35 in Britain, where there are strong gun laws.

Analysis: Guns and the law

Sandy Hook should, and must, be a tipping point for real action to bring this number down.

Follow @CNNOpinion on Twitter.

Join us at Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Piers Morgan.

Watch Piers Morgan Tonight weeknights 9 p.m. ET. For the latest from Piers Morgan click here.

Part of complete coverage on

December 20, 2012 -- Updated 1441 GMT (2241 HKT)

Howard Kurtz says reporters should stay on the story and the issues it raises.

December 20, 2012 -- Updated 1313 GMT (2113 HKT)

Douglas Rushkoff says our first instinct is to protest Instagram's new terms of service, but we should realize that Facebook paid a billion dollars for the site and needs to earn money in return.

December 19, 2012 -- Updated 2057 GMT (0457 HKT)

LZ Granderson says allowing concealed weapons in places like schools and churches would just result in more tragedy, not less.

December 19, 2012 -- Updated 2054 GMT (0454 HKT)

William Bennett says having armed and trained people could help protect schools and other vulnerable places from gun violence

Get the latest opinion and analysis from CNN's columnists and contributors.

December 19, 2012 -- Updated 1544 GMT (2344 HKT)

Rebecca Buckwalter-Poza says the vice president, who shepherded the 1994 Violent Crime Control and Law Enforcement Act through the Senate, is the right man to lead new gun control efforts.

December 19, 2012 -- Updated 1711 GMT (0111 HKT)

Ruben Navarrette says with their many demands, many of the young undocumented immigrants brought here as kids are turning people against them, hurting the chances for broad immigration reform

December 19, 2012 -- Updated 1406 GMT (2206 HKT)

Van Jones says artists have gotten together to expose the fiscal cliff as a crisis manufactured to justify cuts in essential programs.

December 19, 2012 -- Updated 1933 GMT (0333 HKT)

James Garbarino says troubled, lonely boys view the world as hostile, and think their culture condones the use of violence to solve problems

December 19, 2012 -- Updated 1438 GMT (2238 HKT)

Lori Haas says our elected leaders have abandoned all sense of right and wrong despite epidemic deaths from guns.

December 18, 2012 -- Updated 1635 GMT (0035 HKT)

Edward Mulvey says we cannot tell which one of the thousands and thousands of young men who are quiet or withdrawn will be a killer.

December 18, 2012 -- Updated 1757 GMT (0157 HKT)

Deepak Chopra says if we stay glued to the media and relive Newtown over and over in our minds, we work against the healing process.

December 19, 2012 -- Updated 1423 GMT (2223 HKT)

Peter Bergen says gun violence claims proportionately more civilian lives in some U.S. cities than the civilian toll of the Afghan war.

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Nissan to invest £250m in the UK

19 December 2012 Last updated at 03:43 ET

By Jorn Madslien Business reporter, BBC News

Nissan says it is investing £250m in Sunderland to make a small luxury car, creating “hundreds of jobs” in the UK.

“The Sunderland factory is very competitive,” said Nissan’s chief performance officer Colin Dodge.

The Infiniti model was penned by Nissan’s design team in London and engineered at its technical centre in Bedfordshire.

Their brief was to appeal to buyers in Europe, where the marque’s sales are weak.

Business Secretary Vince Cable visited the Sunderland plant on Wednesday for the investment announcement.

“Today’s news is a strong endorsement of the quality of Britain’s car industry, which is creating jobs, taking on apprentices and contributing to building a stronger economy,” he said.

“The auto sector is living up to being one of the great success stories of our industrial strategy and a testimony to government and private sector working together in close partnership.”

‘Pivotal car’

Business Secretary Vince Cable: “It’s a tremendous vote of confidence in the British car industry”

Mr Dodge said it was too early to be specific about how many jobs would be created as a result of the fresh investment.

It was suggested, however, that it could be about 280 directly at the factory, with a further 700 or so created with suppliers.

However, to make space for the Infiniti, a previously announced investment of £127m to build a hatchback, involving some 125 jobs, will now be moved from Sunderland to another Nissan factory in Europe, for instance in Spain or Russia, an Infiniti spokesman said.

The Infiniti investment will be made during the next two years and the new Infiniti will start rolling off the assembly line in 2015, Mr Dodge said.

Nissan said it would produce up to 60,000 Infiniti cars per year.

The new car has not yet been named, beyond an announcement that it will be called something starting with Q followed by a digit and ending with 0, but it will be based on the Ethera concept vehicle that was displayed at the Geneva motor show in 2011.

“It is a pivotal car for Europe,” Mr Dodge said.

Ambitious target

Infiniti has made little headway since it was first launched in Europe in 2008 with a series of large, thirsty cars with powerful V6 and V8 petrol engines.

“The Infiniti brand has been very American-centric for years,” Mr Dodge said, “but the new, smaller model is the size of car for Europe rather than for the US.”

Infiniti has set itself an ambitious sales target in Europe of 100,000 cars by 2016, compared with 16,700 cars sold in 2011.

Between a third and half the sales of the new Infiniti are expected to come in Europe, said Mr Dodge.

The car will be the first Infiniti to be offered with a diesel engine, an option seen as crucial to win over European drivers, Mr Dodge said, though he declined to reveal further details about the engine options for the car.

The Ethera concept was a petrol-electric hybrid with a 2.5-litre four-cylinder engine. Nissan is developing engines jointly with Mercedes-owner Daimler, it works closely with alliance partner Renault, and in March this year it unveiled a high performance petrol-electric hybrid model, the Emergenc-e, that will use a three-cylinder petrol engine made by Hethel, Norfolk-based Lotus.

Efficient factory

Sunderland was awarded the model thanks to its reputation for efficiency, both in terms of quality and cost as well as ability to deliver, said Mr Dodge, who worked at the plant from 1984 until 2007 before he was promoted and moved to the Nissan headquarters in Japan.

Nissan used to claim that its Sunderland plant, which currently employs more than 6,000 people, was the most efficient car factory in Europe, though these days it tends not to mention this.

“But it is,” said Mr Dodge. “We just don’t keep chest-beating about it year in, year out.”

Nissan said Sunderland is on schedule to become the first car factory in the UK to have produced more than 500,000 cars in one calendar year. “Even during British Leyland times, they didn’t do that,” said Mr Bolt.

Global production

The decision to produce the new Infiniti outside Japan was based on a number of factors.

“Historically, we’ve made Infiniti in Japan,” said Mr Dodge, though in recent years, he explained, the yen has been very strong, thus making it difficult to make money from cars exported from Japan.

In response, the carmaker is shifting production to the UK, the US and China.

It is “heartbreaking” for Nissan’s Japanese staff to see production moved out of the country, Mr Dodge said.

“They can make cars as well as anybody,” he said, “but they’re at a significant disadvantage when compared with rivals selling cars in dollars, euros or pounds.”

But the strong yen is not the only reason why Nissan makes ever more cars abroad.

Investment and production in growth markets around the world would probably continue even if the yen was to fall in value, as it is expected to do under the country’s next prime minister, Shinzo Abe.

“If you’ve got a manufacturing base and a supply base set up, it is best to produce and sell in one currency,” said Mr Dodge.

BBC News – Business

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Goodbye, Government, Under Either Fiscal Plan

Correction Appended

As President Obama and Speaker John Boehner negotiate to resolve the looming fiscal crisis, Americans might be forgiven for believing that the nation’s problems would be solved if they could only agree on whether to raise $ 1.2 trillion or $ 1 trillion in new taxes over the next 10 years, or whether they should cut $ 850 billion rather than $ 1.2 trillion more in government spending.

This is not, unfortunately, the case. The frenzied partisan horse-trading has glossed over what is arguably the central issue of any debate over long-term fiscal policy: the kind of role we expect the government to play in the nation’s future. Not only have our political leaders failed to lay out a vision of what they hope the budget will achieve, they are pulling the wool over Americans’ eyes about the kind of budget we are about to get.

The truth is that both the president and House Republicans have agreed to shrink a critical part of the government to its smallest in at least half a century. This is regardless of which trillion-dollar proposal gains the upper hand.

Consider the president’s budget, which by law must include projections of taxing and spending over the next decade. Loath to raise taxes on the middle class yet unwilling to cut deeply into the budgets for Social Security or Medicare, the president and his advisers proposed cutting the discretionary part of the budget devoted to everything except defense and other security agencies to 1.7 percent of economic output by 2022, down from 3.1 percent last year.

This is not irrelevant spending. It accounts for every government expenditure except entitlements, security and interest. It pays subsidies for higher education and housing assistance for the poor. It finances the National Institutes of Health and the Food and Drug Administration. It pays for the Federal Emergency Management Agency and training programs for unemployed workers. Without such spending, the government becomes little more than a heavily armed pension plan with a health insurer on the side.

House Republicans are equally if not more frugal. The House budget resolution, the Republicans’ last detailed proposal about taxes and spending, refers to discretionary spending except national defense, a broader category than that considered in the president’s budget. They too cut it to the bone: to about 2.1 percent of economic output in 2022, from 4.3 percent last year.

To put it in perspective, this would cut the government’s civilian discretionary budget to the smallest it has been as a share of the economy at least since the Eisenhower administration — when a quarter of the population lived under the poverty line, thousands of children still contracted polio each year and fewer than one in 12 Americans older than 25 had a college degree. According to estimates by the Congressional Budget Office, even going over the so-called fiscal cliff would not cut it as deeply.

“This is no way to run a $ 3.7 trillion enterprise,” said a Columbia University economist, Jeffrey Sachs, referring to the size of the federal government. “It is President Obama’s responsibility to put forward a plan and give us a comprehensive view of what is the strategy.”

The numbers for civilian discretionary spending shrink so much under both the president’s and the House Republicans’ budget proposals that even those who wrote them seem to have a hard time believing they will come true.

Rather than specify how all the required cuts would affect spending on specific programs, like housing assistance, Pell grants or the National Science Foundation, the budget writers put hundreds of billions of unspecified savings under a hazy budget line called “allowances” — which essentially means cuts to be determined later, in the course of the decade. They are what Richard Kogan, a tax expert at the Center on Budget and Policy Priorities, calls “the magic asterisk.”

President Obama’s budget has almost $ 200 billion worth of allowances. The House Republican proposal included almost $ 1 trillion. “In my personal opinion, the defense and nondefense spending caps won’t hold until 2021,” Mr. Kogan said. “At some point the deficit will look small enough and the pressure to provide services and benefits will appear large enough that Congress will find ways around them.”

Mr. Sachs’s critique comes from the president’s left, where there is widespread belief that the nation needs more tax revenue to avoid sacrificing important government programs. But economists to the president’s right share the concern over an opaque budgeting process that fails to address the central issue of our time.

“Either we reform entitlements or we accept large tax increases or we crowd out everything else the government does,” noted R. Glenn Hubbard, the dean of Columbia Business School, who advised the Republican nominee Mitt Romney during the last presidential campaign. “People need to have that discussion.”

We’ve had this debate several times before. President Franklin Roosevelt’s New Deal was based on the proposition that government should play a much bigger role to guarantee Americans’ economic security. In the 1960s, President Lyndon Johnson asserted the government’s responsibility to alleviate the plight of the poor and disenfranchised. Three decades ago, President Ronald Reagan changed course, ushering in an era of government retrenchment that persisted pretty much unabated until we were walloped by the Great Recession.

Today, our public finances are caught between these two appetites: our preference for lower taxes and our unwillingness to accept cuts to entitlements set up in our bygone Big Government era. The average federal income tax rate is at its lowest in more than 30 years. Still, nearly half of all Americans say their income taxes are too high. And most Americans do not want government to cut spending on Medicare or Social Security.

Unwilling to confront voters with the tension between these choices, it is perhaps natural that our leaders would take the ax to discretionary spending outside of defense, the easiest part of the budget to cut. It might also explain why they are so loath to tell us what they are doing. But this reticence does not make for a fruitful debate about the role of government in our future.

Mr. Sachs recalls confronting Gene Sperling, who heads President Obama’s National Economic Council, about how civilian discretionary spending shrinks in the president’s budget. Mr. Sperling’s reply suggests the president knows the cost-cutting is getting out of hand: “Jeff, we have a problem with that number, too.”

E-mail: [email protected]; Twitter: @portereduardo

Correction: December 19, 2012, Wednesday

This article has been revised to reflect the following correction: An earlier version of this column misspelled the middle name of the dean of Columbia Business School. He is R. Glenn (not Glen) Hubbard.

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Wall Street little changed after two-day rally, GM jumps

NEW YORK (Reuters) - Stocks were little changed on Wednesday as investors found scant reason to continue buying following the best two-day rally for the S&P in a month.

General Motors bucked the overall weakness to surge more than 8 percent after the company said it will buy back 200 million of its shares from the U.S. Treasury, which plans to sell the rest of its GM stake over the next 15 months. GM was up 8.6 percent at $27.68.

There was optimism that politicians were getting closer to an agreement to avert the "fiscal cliff" - steep tax hikes and spending cuts that will come into effect in the new year - but that was not enough to push the market higher.

"The question has shifted to what a deal will look like and entail, and markets are taking a pause as we consider that," said Scott Eldridge, director of portfolio management at Caprin Asset Management in Richmond, Virginia.

"It seems like all the parties at the table have made steady progress, but it continues to drown out all the other noise in markets."

Republicans in the U.S. House of Representatives could vote on Thursday on a "Plan B" tax bill that would extend low tax rates, except on income of $1 million and above, though the White House said President Barack Obama would veto the proposal.

Investors are concerned the fiscal cliff could send the economy back into recession, though most expect a deal will be reached eventually.

The Dow Jones industrial average <.dji> slipped 11.80 points, or 0.09 percent, to 13,339.16. The Standard & Poor's 500 Index <.spx> eased 2.12 points, or 0.15 percent, to 1,444.67. The Nasdaq Composite Index <.ixic> added 0.36 points, or 0.01 percent, to 3,054.89.

Markets have been buoyed in recent weeks by any signs that an agreement between policy makers over the budget may be reached, with banks and energy shares - groups that outperform during periods of economic expansion - leading gains.

The S&P added 2.3 percent over the past two sessions, the first time it has notched two straight days of 1 percent gains since late July. Still, trading has been light ahead of the holidays, and with investors' focus on the budget talks.

Defensive sectors led the downside on Wednesday, with the utilities sector <.gspu> slipping 0.7 percent.

Gains in technology shares boosted the Nasdaq after Oracle reported earnings that beat expectations on strong software sales growth. Oracle jumped 3.4 percent to $34.00, while the tech sector <.gspt> was up 0.1 percent.

Knight Capital Group Inc climbed 6.9 percent to $3.56 after it agreed to be bought by Getco Holdings in a deal valued at $1.4 billion. The stock, which nearly collapsed after a trading error in August, remains down about 76 percent so far this year.

(Additional reporting by Ryan Vlastelica; Editing by Bernadette Baum)

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Penn State voted AP sports story of year again

NEW YORK (AP) — The Penn State child sex abuse scandal was selected as the sports story of the year by U.S. editors and news directors in an annual vote conducted by The Associated Press.

The news broke in November 2011, with a grand jury report outlining charges against Jerry Sandusky, and the outrage that followed led to the firing of Hall of Fame coach Joe Paterno. But the aftershocks were felt long into 2012: Sandusky was convicted in June of assaulting 10 boys, and the NCAA handed down brutal sanctions in July.

In both years, the scandal was picked as the top sports story, the first time since the AP began conducting its annual vote in 1990 that the same story was selected twice in a row. The results of this year's tally were announced Wednesday.

Even before the Sandusky trial, the State College community had absorbed another huge blow as Paterno died Jan. 22 at age 85 of lung cancer.

The year ended with a small step to normalcy — joy on the football field. Under new coach Bill O'Brien, the Nittany Lions won eight of their last 10 games to finish 8-4, capped by an overtime victory at home over Wisconsin.

There were 157 ballots submitted from U.S. news organizations. The voters were asked to rank the top 10 sports stories of the year, with the first-place story getting 10 points, the second-place story receiving nine points, and so on.

The Penn State saga received 1,420 points and 109 first-place votes. The No. 2 sports story, Lance Armstrong stripped of his seven Tour de France titles, had 10 first-place votes and 1,008 points.

Football's popularity, college and pro, was unmistakable with seven of the top 10 stories. But only two of them involved the action on the field.

Here are 2012's top 10 stories:

1. PENN STATE: Sandusky, the former defensive coordinator whose crimes led to such devastation for his victims and for his former employer, was found guilty on 45 of 48 counts. In October, the 68-year-old was sentenced to 30 to 60 years in prison. His conviction provided some closure, but a messy aftermath remained. Former FBI Director Louis Freeh released the results of his investigation July 12, saying Paterno and other top school officials covered up allegations against Sandusky. The NCAA used that report as a basis for its sanctions announced later that month, which included a $60 million fine, a four-year bowl ban and scholarship reductions.

2. LANCE ARMSTRONG: In February, federal prosecutors closed an investigation into whether the star cyclist doped. That turned out to be only a temporary reprieve for a once-revered figure. In June, the U.S. Anti-Doping Agency accused him of using performance-enhancing drugs, and in August, when he dropped his fight against the charges, USADA ordered his record seven Tour titles wiped out. A report released in October laid out vivid details of the evidence. The year ends with Armstrong dropped by many of the companies he endorsed and no longer formally involved with the cancer charity he founded, Livestrong.

3. NFL BOUNTIES: This much is clear: Saints coach Sean Payton was suspended for the entire season and New Orleans started 0-4 to quickly fall out of playoff contention. Much else about the bounty scandal remains in dispute. Players deny the NFL's assertions of a pay-for-injury program. On Dec. 11, former Commissioner Paul Tagliabue overturned his successor's suspensions of four players but endorsed the findings of the investigation under Roger Goodell.

4. FOOTBALL CONCUSSIONS: The deaths of NFL greats Alex Karras — who suffered from dementia — and Junior Seau — who committed suicide — were grim reminders of the angst over head injuries in the sport and their possible consequences. Thousands of retired players have sued the league, alleging the NFL failed to protect them from the dangers of concussions.

5. LONDON OLYMPICS: Michael Phelps retired from swimming after setting an Olympic record with his 22nd medal at a Summer Games bursting with memorable performances. Usain Bolt became the first man to successfully defend both the 100- and 200-meter dash titles. And the host country racked up 65 medals in an Olympics so successful for Britain that it barely even rained.

6. COLLEGE FOOTBALL PLAYOFFS: Instead of complaining about the BCS, soon we can moan about the selection committee. After years of carping, fans finally got a playoff system, which will debut after the 2014 season. The four-team bracket will feature semifinals and a title game to determine a national champion.

7. REPLACEMENT OFFICIALS: Fans and pundits predicted a blown call would decide a critical game when the NFL started the season with replacement officials. Sure enough, in Week 3, on the national stage of "Monday Night Football," a missed offensive pass interference penalty and a questionable touchdown catch handed the Seattle Seahawks a win over the Green Bay Packers. Two days later, the league resolved its labor dispute with the regular refs.

8. SUPER GIANTS: A team that had been 7-7 upset the top-seeded Green Bay Packers on the road in the playoffs, needed overtime to beat the San Francisco 49ers in the NFC title game, then came from behind to defeat the New England Patriots in the Super Bowl, 21-17, an outcome strangely similar to their matchup four years earlier. Eli Manning won his second Super Bowl MVP award.

9. SUMMITT RETIRES: Pat Summitt, the winningest coach in NCAA basketball history, retired from the Tennessee bench in April at age 59, less than eight months after revealing she had early-onset dementia. Longtime assistant Holly Warlick took over the Lady Vols. Summitt was 1,098-208 with eight national titles in 38 seasons.

10. MANNING'S RESURGENCE: Peyton Manning was released from the Indianapolis Colts in March after missing last season because of neck surgery, the future uncertain for the four-time MVP. John Elway and the Broncos gambled that he still had some championship play left in that right arm, and so far it's looking like a brilliant move as Denver won the AFC West.

___

AP Projects Editor Brooke Lansdale contributed to this report.

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