The Hobbit: Richard Armitage Talks Preparations For Playing Thorin Oakenshield

British actor Richard Armitage admitted it wasn’t a walk in the park to play a J.R.R. Tolkien character in Peter Jackson’s reimagining of “The Hobbit,” the first installment of which is on its way into theaters.

Upon touching down in New Zealand, where the trilogy was shot, the cast had a lot of character preparation to do.

PLAY IT NOW: Martin Freeman Discusses The Hobbit’s ‘Good Chemistry’ & Playing Bilbo Baggins

“We arrived in February 2011 and we went straight into a training program, which was called ‘Dwarf Bootcamp,’ which was literally boots — these huge boots. We learned how to walk, we wrestled with each other, we did archery together, we did sword fighting, hammer fighting, horse riding — everything you could possibly think of,” Richard, who plays Thorin Oakenshield in the film told Access Hollywood at the film’s junket.

In addition, the cast, which includes his former “Cold Feet” co-star James Nesbitt as Bofur, found ways to get to know each other better off set.

VIEW THE PHOTOS: The Hobbit: An Unexpected Journey — New York City Premiere

“We went round to each other’s houses and we cooked food together, we went to the pub and got drunk together, so there was an incredibly great bonding time between the dwarves,” he said.

Richard had plenty of experience sword fighting and horse riding in the BBC America series “Robin Hood,” but it was something else that came in handy during the long days on set.

“I’d done a number of shows where I’d had to use sword fighting and I’d also done horse riding. I’d also pulled guns out of my pocket. That was less useful,” he laughed, likely referring to his recent role in the PBS-import series “MI-5,” where he played a British spy. “But, yeah, you draw on everything. I’d worked at the Royal Shakespeare Company, so the vocal work was really useful to kind of pull that from there. I’d worked in a circus, there were… all sorts of things that were really useful, but the one thing that I do have — for lack of talent — is stamina and that’s the one thing I think everybody needed on this job.”

VIEW THE PHOTOS: Meet ‘The Hobbit’ Cast!

An imagination was useful also, but Richard said what turned out on the big screen was still wilder – and more beautiful – than he dreamed of.

“So many moments… Actually, apart from the eagles — which every single time I’ve seen this film absolutely blows my mind and I can barely keep the tears back and [it has] nothing to do with the pathos of the scene, just that feeling of flight moves me — is the throne of Aragorn, in the beginning of the prologue,” he told Access of the moment that moved him most. “When it got to [filming] that scene, I walked on and… it was just a green cross on the floor with a tiny green chair… [But in the film], they just made this incredible, almost space aged, sort of suspended seat in the middle of this stalagmite. It just blows my mind when I see that.”

VIEW THE PHOTOS: The Brit Pack: Hot Shots Of Stars From The UK!

“The Hobbit: An Unexpected Journey” hits theaters on December 14, 2012, followed by “The Hobbit: The Desolation of Smaug,” on December 13, 2013 and “The Hobbit: There and Back Again,” on July 18, 2014.

– Jolie Lash

Copyright 2012 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Facebook helps FBI bust cybercriminals blamed for $850 million losses

SAN FRANCISCO (Reuters) – Investigators led by the Federal Bureau of Investigation and aided by Facebook Inc, have busted an international criminal ring that infected 11 million computers around the world and caused more than $ 850 million in total losses in one of the largest cybercrime hauls in history.

The FBI, working in concert with the world’s largest social network and several international law enforcement agencies, arrested 10 people it says infected computers with “Yahos” malicious software, then stole credit card, bank and other personal information.

Facebook’s security team assisted the FBI after “Yahos” targeted its users from 2010 to October 2012, the U.S. federal agency said in a statement on its website. The social network helped identify the criminals and spot affected accounts, it said.

Its “security systems were able to detect affected accounts and provide tools to remove these threats,” the FBI said.

According to the agency, which worked also with the U.S. Department of Justice, the accused hackers employed the “Butterfly Botnet”. Botnets are networks of compromised computers that can be used in a variety of cyberattacks on personal computers.

The FBI said it nabbed 10 people from Bosnia and Herzegovina, Croatia, Macedonia, New Zealand, Peru, the United Kingdom, and the United States, executed numerous search warrants and conducted a raft of interviews.

It estimated the total losses from their activities at more than $ 850 million, without elaborating.

Hard data is tough to come by, but experts say cybercrime is on the rise around the world as PC and mobile computing become more prevalent and as more and more financial transactions shift online, leaving law enforcement, cybersecurity professionals and targeted corporations increasingly hard-pressed to spot and ward off attacks.

(Reporting By Edwin Chan; Editing by Matt Driskill)

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Lilly likens Alzheimer’s race to 1920s insulin quest

(Reuters) – Drugmaker Eli Lilly & Co is confident it will do for Alzheimer’s patients what it did almost a century ago for diabetics – find a breakthrough treatment, even though skeptics say it could take years.

“We are on the cusp here of writing medical history again as a company, this time in Alzheimer’s disease,” Jan Lundberg, Lilly’s research chief, said in an interview.

Just as the Indianapolis-based company made history in the 1920s by producing the first insulin when type 1 diabetes was a virtual death sentence, Lundberg said he is optimistic that the drugs Lilly is currently testing could significantly slow the ultimately fatal memory-robbing disease.

“It is no longer a question of ‘if’ we will get a successful medicine for this devastating disease on the market, but when,” said Lundberg, 59.

To be sure, companies often tout drugs in the pipeline that never make it to market. Lundberg’s degree of confidence is striking given that Lilly’s most closely watched experimental drug – solanezumab – failed two big late-stage studies earlier this year. Analysts said the drug still has a slight chance of approval because it delayed memory loss in Alzheimer’s patients with mild symptoms – something no other drug has ever done.

Lilly desperately needs new big-selling medicines to replace lost sales of several of its biggest products that now face competition from cheaper generics. A successful Alzheimer’s drug could bring in billions of dollars each year.

An estimated 5 million people in the United States have Alzheimer’s, the biggest cause of dementia. More than 35 million people worldwide are believed to have dementia, including Alzheimer’s disease, and those numbers are expected to rise as more countries see lifespans increase. But truly effective treatments have eluded researchers.

“Alzheimer’s is fatal, ultimately with no survivors, so we are in desperate need for an effective therapy,” said Dr. Ronald Petersen, director of the Alzheimer’s Disease Research Center at the Mayo Clinic. “Is Lilly poised to make that contribution? I don’t know. But they are pursuing very good options.”

Petersen said Alzheimer’s may be more complex than diabetes, and thus harder to make quick strides against, as Lilly did with insulin. “There may not be a silver bullet. We’ve had so many failures of Alzheimer’s drugs, so we don’t want to be inappropriately optimistic.”

THE WAIT FOR APPROVAL

And even as Wall Street looks for an Alzheimer’s treatment that will deliver blockbuster revenues, many remain cautious.

“Lilly is one of the leaders, but this is going to take a lot longer than we all want it to,” said Cowen and Co analyst Steve Scala. “I doubt a drug will have a meaningful impact on the course of the disease for the next five years.”

Lilly also faces competition from other drugmakers like Merck & Co and Roche Holding AG that have promising Alzheimer’s compounds that could reap annual sales in the billions of dollars.

Lilly is ahead of other drugmakers in Alzheimer’s research after solanezumab, in Phase III trials, was shown in August to slow cognitive declines in patients with mild symptoms of the disease. But the drug, given by intravenous infusion, failed its overall goal of delaying cognitive and physical decline in the larger group of patients with mild-to-moderate Alzheimer’s.

Industry analysts said Lilly might ask the U.S. Food and Drug Administration to approve solanezumab only for patients with mild Alzheimer’s. But the FDA would likely require new trials for that narrower population of patients with mild disease, analysts said.

Leerink Swann analyst Seamus Fernandez said a new trial would likely take three years, but that solanezumab could generate annual sales of up to $ 7 billion if approved and become Lilly’s biggest source of earnings growth.

Lundberg, who joined Lilly in early 2010 after heading research for a decade at British drugmaker AstraZeneca, would not say whether Lilly would seek approval of solanezumab, based on already completed trials.

Lundberg noted that test results were mixed for solanezumab. “What we saw was a slowing of cognitive decline — the memory problem — while the activities of daily living were much less affected.”

But he said solanezumab’s results were impressive nonetheless, especially compared with a similar drug from Pfizer Inc, called bapineuzumab, that failed in large closely watched trials over the summer. Both drugs target toxic plaques in the brain made of a protein called amyloid.

“We have an agent that was safer and also showed a statistically significant benefit” against mild Alzheimer’s, he said.

A MULTI-BILLION-DOLLAR OPPORTUNITY

Some researchers believe far earlier use of solanezumab, and other drugs that target amyloid, could prevent symptoms of the disease. One such prevention study will begin next year at Washington University in St. Louis, and includes use of solanezumab.

Lundberg was cautiously optimistic about Lilly’s mid-stage trials of a different oral class of Alzheimer’s drugs called beta secretase inhibitors — or BACE inhibitors — which work by blocking production of amyloid.

In small earlier trials, Lilly’s experimental drug cut levels of amyloid beta in cerebrospinal fluid by 60 percent. A similar drug from Merck & Co lowered levels by about 90 percent in a separate Phase 1 trial. Each company claims to be ahead of the other in the potentially lucrative race to develop the first approved BACE inhibitor.

Excitement about the class of drugs intensified in July, when researchers in Iceland identified a mutation in a gene that slows the body’s production of beta secretase, Lundberg said. Those aged 85 and older with the beneficial mutation were 81 percent less likely to develop Alzheimer’s than others in that age group.

Lilly and Merck are expected to complete their mid-stage trials by early 2014, and show whether their BACE inhibitors are safe.

“This category could be enormous,” said Leerink Swann’s Fernandez, estimating that a successful drug could capture as much revenue – $ 10 billion – annually as some of the most successful cholesterol drugs.

“We’re looking at multi-billion opportunities because of desperation and the cost of treating this disease,” he said.

(Reporting By Ransdell Pierson in New York; Editing by Jilian Mincer and Leslie Adler)

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Asia stocks gain, unfazed by NKorea rocket launch

BANGKOK (AP) — Asian stock markets rose Wednesday as a German business confidence survey alleviated concerns that Europe’s largest economy might fall into recession. Investors brushed off North Korea‘s latest test launch of a long-range rocket.

The ZEW indicator of economic sentiment defied expectations by rising to plus 6.9 points, from minus 15.7 in November. Markets had expected the index to remain mired in negative numbers. Germany’s economy grew a modest 0.2 percent in the third quarter and expectations are for another weak quarter in the last three months of the year.

Wolfgang Franz, head of the ZEW, or Centre for European Economic Research, said Tuesday the survey showed that Germany isn’t facing recession unless the debt crisis afflicting euro countries reignites.

Japan protested North Korea’s launch of a rocket and was convening its security council to analyze the situation. Rocket tests are seen as crucial to advancing North Korea’s nuclear weapons ambitions. Officials in Washington, Seoul, Tokyo and elsewhere have been urging North Korea to cancel the liftoff.

Despite the launch, Japan’s Nikkei 225 index rose 0.5 percent to 9,570.08. Hong Kong’s Hang Seng added 0.6 percent to 22,446.36. South Korea’s Kospi gained 0.2 percent to 1,969.26. Australia’s S&P/ASX 200 added 0.3 percent to 4,592.40.

Among individual stocks, shares of Australian mining giant BHP Billiton rose 1.2 percent after the company announced it has agreed to sell its stake in a proposed Australian gas project to Chinese state-owned energy producer PetroChina for $ 1.6 billion.

Traders also are watching the U.S. Federal Reserve, which began a two-day policy meeting Tuesday. Some economists expect the Fed to Wednesday announce a new bond-buying program, or quantitative easing, to boost the economy.

Wall Street Tuesday as investors hoped U.S. leaders would eventually thrash out a budget deal needed to keep a slew of tax increases and spending cuts from hitting the world’s largest economy. The longer a U.S. deal fails to emerge to avoid the so-called “fiscal cliff” of automatic tax increases and spending cuts at the start of next year, the more fidgety investors are likely to become.

The Dow Jones industrial average rose 0.6 percent to 13,248.44. The S&P 500 gained 0.7 percent to 1,427.84. The Nasdaq composite index rose 1.2 percent to 3,022.30

Benchmark crude for January delivery was up 19 cents to $ 85.98 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 23 cents to close at $ 85.79 per barrel on the Nymex on Tuesday.

In currencies, the euro rose to $ 1.3009 from $ 1.3003 late Tuesday in New York. The dollar rose to 82.55 yen from 82.50 yen.

___

Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson

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Corruption probe shrouds Quebec in new darkness

MONTREAL (Reuters) – Half a century ago, a new crop of Quebec leaders sparked the so-called Quiet Revolution to eradicate the “Great Darkness” – decades of corruption that kept Canada‘s French-speaking province under the dominance of one party and the Catholic church.

The revolution’s reforms, including cleaning up the way lawmakers were elected and secularizing the education system, seemed to work, paving the way for decades of growth, progress and prominence as Canada emerged as a model of democracy.

Fifty years later, a public inquiry into corruption and government bid-rigging suggests the province’s politics are not as clean as Quebecers had hoped or believed.

Since May, when the inquiry opened in Montreal, Canadians have been getting daily doses of revelations of fraud through live broadcasts on French-language television stations. Corruption involving the Mafia, construction bosses and politicians, the inquiry has shown, drove up the average building cost of municipal contracts by more than 30 percent in Montreal, Canada’s second-largest city.

Last month, Montreal Mayor Gerald Tremblay resigned as did the mayor of nearby Laval, Gilles Vaillancourt. Both denied doing anything wrong, but said they could not govern amid the accusations of corruption involving rigging of municipal contracts, kickbacks from the contracts and illegal financing of elections.

Tremblay has not been charged by police. Vaillancourt’s homes and offices have been raided several times by Quebec’s anti-corruption squad, which operates independently of the inquiry, but no charges have been filed against him either. Police said the raids were part of an investigation but they would not release further details.

“Quebecers lived for several years under the impression that they had found the right formula, that their parties were clean,” said Pierre Martin, political science professor at the University of Montreal. Now, he said, “people at all levels are fed up.”

The inquiry must submit its final report to the Quebec government by next October. It has exposed practices worthy of a Hollywood noir thriller – a mob boss stuffing his socks with money, rigged construction contracts, call girls offered as gifts, and a party fundraiser with so much cash he could not close the door of his safe.

“Even though we are in the early days, what is emerging is a pretty troubling portrait of the way public contracts were awarded,” said Antonia Maioni, director of the McGill Institute for the Study of Canada in Montreal.

Quebec’s Liberals, the force behind the Quiet Revolution, launched the inquiry as rumors of corruption swirled. The government then called an election for September, a year ahead of schedule, in what was seen as an attempt to stop damaging testimony hurting its popularity.

The tactic did not help. Jean Charest’s Liberals lost to the Parti Quebecois, whose ultimate aim is to take the French-speaking province, the size of Western Europe, out of Canada.

‘IT WASN’T COMPLICATED’

According to allegations at the inquiry, the corruption helped three main entities: the construction bosses who colluded to bid on contracts, the Montreal Mafia dons who swooped in for their share, and the municipal politicians who received kickbacks to finance campaigns.

In Quebec, the Mafia has been dominated by the Rizzuto family, with tentacles to the rest of Canada and crime families in New York and abroad. But recently the syndicate has been facing challenges from other crime groups in Montreal, according to the Toronto-based Mafia analyst and author Antonio Nicaso.

The reputed godfather of the syndicate, Vito Rizzuto, has been subpoenaed to appear before the commission, but the date for his testimony has not been set.

The hearings have zeroed in on four construction bosses and how their companies worked with the Mafia, bribed municipal engineers and provided funds for mayoralty campaigns in Montreal, the business capital for Quebec’s 8 million people.

“It’s not good for the economy,” said Martin. “It’s not good for any kind of legitimate business that tries to enter into any kind of long-term relationship with the public sector.”

Quebec’s anti-corruption squad has arrested 35 people so far this year, staging well-publicized raids on mayoral offices and on construction and engineering companies. The squad has arrested civil servants and owners of construction companies, among others.

“I now must suffer an unbearable injustice,” Tremblay said in a somber resignation speech earlier this month after a decade as mayor of Montreal, saying he could not continue in office because the allegations of corruption were causing a paralysis at City Hall.

Some of the most explosive allegations at the inquiry, headed by Quebec Superior Court Justice France Charbonneau, came from Lino Zambito, owner of a now bankrupt construction company, and from a top worker for Tremblay’s political party, Union Montreal.

Zambito, who is seen as one of the smaller players and who also faces fraud charges, described a system of collusion between organized crime, business cartels and corrupt civil servants, with payments made according to a predetermined formula.

“The entrepreneurs made money, and there was an amount that was due to the Mafia,” Zambito told the inquiry. “It wasn’t complicated.”

Zambito said the Mafia got 2.5 percent of the value of a contract, 3 percent went to Union Montreal and 1 percent to the engineer tasked with inflating contract prices.

Tremblay did not respond to emails requesting comment on the allegations of corruption at city hall.

A former party organizer, Martin Dumont, alleged the mayor was aware of double bookkeeping used to hide illegal funding during a 2004 election.

Dumont said the mayor walked out of the room during a meeting that explained the double bookkeeping system, saying he did not want to know anything about it.

Dumont also described how he was called into the office of a fundraiser for Union Montreal to help close the door of a safe because it was too full of money.

“I think it was the largest amount I’d ever seen in my life,” Dumont said at the inquiry.

GOLF, HOCKEY, ESCORTS

The inquiry also saw videos linking construction company players with Mafia bosses. In one police surveillance video, a Mafia boss was seen stuffing cash into his socks.

A retired city of Montreal engineer, Gilles Surprenant, described how he first accepted a bribe in the late 1980s after being “intimidated” by a construction company owner. Over the years he said he accepted over $ 700,000 from the owners in return for inflating the price of the contracts.

Another retired engineer, Luc Leclerc, admitted to bagging half a million dollars for the same service. He said the system was well-known to many at city hall and simply part of the “business culture” in Montreal. He also got gifts and paid golf trips to the Caribbean with other businessmen and Mafia bosses.

Gilles Vezina, who is currently suspended from his job as a city engineer, concurred.

“It was part of our business relationships to get advantages like golf, hockey, Christmas gifts” from construction bosses, he told the inquiry in mid-November.

The gifts didn’t stop there. Vezina said he was twice offered the services of prostitutes from different construction bosses in the 1980s or early 1990s, which he said he refused.

The accusations are jarring for a country that prides itself on being one of the least corrupt places in the world, according to corruption watchdog Transparency International. But experts say corruption in Montreal was something of an open secret.

“The alarm signals have been going off here for 20 years and no one has done anything,” said Andre Cedilot, a former journalist who co-wrote a book on the Canadian Mafia.

Quebec’s new government has introduced legislation tasking the province’s securities regulator with vetting businesses vying for public contracts and allowing it to block companies that do not measure up.

Anti-corruption activist Jonathan Brun was not optimistic.

“You’ve got to use modern technology,” said Brun, a co-founder of Quebec Ouvert, a group that wants to make all information about contracts freely available rather than asking regulators to oversee individual companies. “You’ve got to change the entire system if you really want to fight corruption.”

(Writing by Russ Blinch; Editing by Janet Guttsman, Mary Milliken and Prudence Crowther)

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Massive HP conference draws 10,000 attendees to ogle products, speakers, presentations

By Suzy Hansen

More than 10,000 customers, partners and attendees flocked to the Hewlett-Packard Discover conference in Frankfurt, Germany, this week to learn about HP’s latest products, exchange ideas, swap business cards and basically examine whether HP can improve the way their companies are run. The event was held at Messe Frankfurt, one of the world’s largest trade exhibition sites.

CEO Meg Whitman acknowledged in her speech on Tuesday that HP has gone through some rough times this past year. HP’s stock price has been nearly halved during her tenure. Whitman, however, pointed out that HP has $ 120 billion in revenue and is the 10th-largest company in the United States. In Q4, HP has generated $ 4.1 billion in cash flow.

“We are the No. 1 or No. 2 provider in almost every market,” Whitman told the crowd in Frankfurt.

Whitman emphasized  executives’ increasing concerns about security and said that it will be addressed by “a new approach”: HP’s security portfolio, with Autonomy and Vertica, which helps “analyze and understand the context of these events.” Executive Vice President of Enterprise Dave Donatelli spoke about converged infrastructure, or bringing together server, network and storage; their software-defined data centers; and their new servers, which “change the way servers have been defined.” George Kadifa, executive vice president of software, said 94 of the top 100 companies use HP software. HP is the sixth-largest software company in the world, with 16,000 employees in 70 countries, Kadifa added.

Also at the conference was Jeffrey Katzenberg, CEO of DreamWorks and an old friend of Whitman’s from their Disney days, who roused the crowd with a fun speech about his long relationship with HP. Katzenberg showed an old video of himself onstage with a lion, which nearly mauled him. This time, he appeared onstage with a guy in a lion suit. The lesson was to learn from past mistakes and move on.

“If I am smart enough to say ‘scalable multicorps processing,’ I am smart enough to not put myself onstage with a real lion again,” he joked.

The Discover conference is a key vehicle for HP to show off products it’s offering in the coming year. Among them were the latest ProLiant and Integrity servers, the 3PAR StoreServ 7000 and the StoreAll and StoreOnce storage systems. At the HP Labs section of the conference, attendees could learn about the cloud infrastructure or test HP’s new ElitePad 900.

Throughout the three-day event, which saw attendance grow by 30 percent this year, attendees wandered the enormous halls, milling around displays, watching videos, listening to speeches and participating in workshops. People gathered on clustered couches and chatted with new acquaintances, frequently stopping to plug in their various devices and recharge themselves with coffee. With people coming from all over the world, you could hear many languages spoken, from Arabic to French to the most bewildering of them all: the language of technology. Despite the large crowds, it was hard not to notice there were very few women among the thousands in attendance. In fact, when asked about this phenomenon, one female HP employee said, “Trust me, you aren’t the first person who has come up to me asking about this.”

Indeed, the Discover conference was like a forest of men in suits. The few women stood out like rays of sunlight. 

Regardless of their presence at this conference, women are making big strides in information technology. Among the leaders are HP CEO Whitman, who also led eBay; Carly Fiorina, who ran HP before Whitman; Yahoo! CEO Marissa Mayer; and Facebook COO Sheryl Sandberg. Were the women at the Discover conference surprised by the low female turnout?

“No, for IT this is standard,” said Stefanie, a 30-year-old product manager from Germany. “Many are afraid of all the technical stuff, and you have to prove that you are capable of it. You get more women in retail and distribution but not in high-tech areas, at least not in Europe. In America there are more women in management positions and in general.”

Americans might assume that Europe, with its generous social programs that include free daycare, enables more women to ascend the corporate ladder. But that still doesn’t mean that a woman trying to balance a high-tech career and a family is always accepted in European society.

“There is still a lot of emphasis on the family,” Stefanie said. “It’s easier to move up in the U.S., where there is a culture of ‘having it all.’ It’s quite a fight to get there here.”

Still, the IT industry might seem inhospitable to women. Could this male-dominated profession be male-dominant because women have a hard time breaking in?

Stefanie disagreed. “No, they actually like working with women,” she said. “They want to.”

One male conference attendee, who asked not to be named, was less certain.

“There’s a lot of ego and testosterone,” he said. “It can’t be easy” for women.

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“X Factor” castoff Cheryl Cole files $2.3 million lawsuit against producers

LOS ANGELES (TheWrap.com) – Cheryl Cole, who was originally hired as a judge for the American version of “The X Factor” but was replaced by Pussycat Doll Nicole Scherzinger before the show premiered, is now suing the producers of the show for $ 2.3 million dollars, according to court papers obtained by TheWrap.

In the complaint against Blue Orbit Productions, filed in Los Angeles Superior Court, Girls Aloud singer Cole claims that she entered a pay-or-play agreement with Blue Orbit Productions in April 22, 2011, that guaranteed her $ 1.8 million for the first season of the show, and $ 2 million for the second.

The suit also says that Cole was also due to receive other expenses for housing, wardrobe, styling and general living expenses.

Cole claims that she received the $ 1.8 million for the first season, but the producers didn’t pony up for the wardrobe/styling allowance, housing allowance (which, according to the suit, was $ 15,000 per month) or living allowance.

She also didn’t receive her guaranteed $ 2 million for the second season, the suit claims.

Now Cole wants damages “in excess of $ 2.3 million,” plus interest at the legal rate, and court costs.

TheWrap was unable to reach Blue Orbit Productions for comment.

(Pamela Chelin contributed to this report)

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Chavez faces cancer surgery in Cuba, vows he’ll be back

CARACAS (Reuters) – Venezuelan President Hugo Chavez flew to Cuba on Monday for cancer surgery, with a vow to return quickly despite conceding for the first time that the disease could end his 14-year rule of the South American OPEC nation.

“I leave full of hope. We are warriors, full of light and faith,” the ever-upbeat Chavez said before boarding the flight to Havana. “I hope to be back soon.”

Chavez, 58, pumped a fist in the air as he set off for the latest chapter of a tumultuous rule that has included a brief coup, persistent acrimony with the United States and frequent nationalizations, as well as wildly popular anti-poverty programs.

The socialist president first suffered an undisclosed form of cancer in the pelvic region in mid-2011. He had appeared to improve and easily won re-election in October but now faces a fourth round of surgery for a second cancer recurrence in the same area.

The news sparked a rally in Venezuela bonds on Monday, given many investors’ preference for more a business-friendly government in Caracas.

Chavez stunned Venezuelans over the weekend with his nationally televised announcement that more malignant cells had been found, despite twice having declared himself cured.

END OF AN ERA?

Chavez’s re-election in October was helped by heavy government spending on social programs and his intense emotional connection to followers who view him as a larger-than-life figure.

He is due to start a new six-year term on January 10.

His departure would mark the end of an era given his flamboyant leadership of Latin America’s hard left and self-appointed role as Washington’s main provocateur in the region.

Chavez has named Vice President and Foreign Minister Nicolas Maduro as his preferred successor, urging supporters to vote for Maduro in the event of an election. The constitution stipulates a vote within 30 days should he be incapacitated.

In his first appearance following his anointment, Maduro wept as he vowed the country would remain faithful to Chavez and carry on his self-styled revolution.

“We are going to accompany President Chavez in prayer and in action,” Maduro said at a campaign rally for state governors. “We’ve been with (him) in the good times and bad times.”

Allies including former Vice President Elias Jaua and Oil Minister Rafael Ramirez came forward with good wishes for the president. Ramirez read a statement from oil workers vowing unbending loyalty to Chavez and promising to support Maduro.

State media promoted a Twitter campaign for the president by splashing hashtags including #ElmundoestaconChavez (the world is with Chavez). By midday, it was one of the microblogging site’s top global trending topics.

The health saga has once again eclipsed major national issues such as state elections on Sunday, a widely expected devaluation of the bolivar currency and a proposed amnesty for Chavez’s jailed and exiled political foes.

If a new election were needed, the opposition could be in its best position to win since Chavez took power in 1999. Many voters have overlooked the government’s failings because of their deep emotional connection with the president.

But the opposition’s prospects may hinge on the result of the vote for Miranda state governor on Sunday. A loss there for Governor Henrique Capriles could fracture the coalition that backed him as a unity presidential candidate and spark a return to an era of infighting that benefited Chavez and his allies.

Capriles, 40, lost to Chavez in October but got 44 percent of the vote – a record 6.5 million votes for the opposition in the Chavez years.

Opposition leaders say Chavez’s condition is serious enough that he must officially step aside and temporarily designate the vice president to lead the country while he is in treatment.

Failure to do so, they say, could paralyze decision-making and lead to fighting within the ruling Socialist Party.

Chavez’s backing of Maduro was seen as a snub to Congress head Diosdado Cabello, who is widely considered Maduro’s rival despite their public statements to the contrary. Chavez pointedly called for unity and “no intrigue” before leaving.

The opposition also has criticized the secrecy surrounding the details of his medical condition and his snubbing of local doctors in favor of those in Cuba.

“Hiding information for partisan gain without regards for the good of the country is not democratic,” said Ramon Guillermo Aveledo, the leader of Venezuela’s Democratic Unity coalition.

Venezuela’s heavily traded global bonds rallied 2.81 percent in price, according to returns tallied by the J.P. Morgan Emerging Markets Bond Index Plus (EMBI+).

INTERNATIONAL IMPACT

Chavez’s health has major implications for the region.

A handful of Latin American and Caribbean neighbors – from Cuba and Nicaragua to Bolivia and Ecuador – have come to depend on his oil-fueled largesse to bolster their fragile economies. OPEC member Venezuela has the world’s largest oil reserves.

War-torn Syria, which is facing tightening sanctions by the United States and the European Union, has received much-needed shipments of diesel from the sympathetic Chavez government.

Despite Chavez’s selection of Maduro, his “Chavismo” movement could disintegrate without him given rumored rivalries among the main players. Goldman Sachs analyst Alberto Ramos warned in a research note of “a possibly noisy, and not necessarily short, political transition in Venezuela.”

Maduro, a 50-year-old former bus driver and union leader, is the most popular of the senior “Chavistas” among the president’s working-class supporters, thanks to his affable manner, humble background and close ties to Chavez.

His six years as foreign minister have also given him good contacts in countries such as China and Russia. He has an easygoing style but is a firm believer in Chavez’s leftist policies and has often led fierce criticism of the United States.

Supporters have been holding vigils for Chavez around the country, and even though he was absent on Monday, his image was everywhere on state media and in public squares.

Messages of support also have poured in from abroad, and Ecuadorean President Rafael Correa, a fellow socialist, joined Chavez in Cuba.

“We’ve come in solidarity,” Correa said. “He is a historic president, a great friend … and most of all an extraordinary human being. You are not alone in your struggle.”

For latest news, follow us on Twitter @ReutersVzla

(Additional reporting by Deisy Buitrago in Caracas, Walker Simon in New York, Sujata Rao in London, Nelson Acosta in Havana, Jack Kimball in Bogota; Editing by Kieran Murray and Xavier Briand)

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HSBC ‘to pay $1.9bn’ in US deal

10 December 2012 Last updated at 19:30 ET

HSBC is to pay US authorities $ 1.9bn (£1.2bn) in a settlement over money-laundering, say reports, the largest ever in such a case.

The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under US sanctions.

Earlier this year HSBC admitted having poor money laundering controls following a US Senate investigation.

Last month announced it had set aside $ 1.5bn to cover the costs of any settlement or fines.

The deal could be announced as early as Tuesday, the Wall Street Journal reports.

It follows the announcement of a similar but much smaller settlement with UK-based Standard Chartered bank, which will pay $ 300m in fines for violating US sanction rules.

The cases are seen as part of a crackdown on money laundering and sanctions violations being led by federal government agencies and New York state authorities.

The $ 1.9bn sum in the HSBC settlement is expected to include around $ 1.25bn forfeited by HSBC – the largest amount ever paid out in such a case – and a $ 650m civil fine.

The bank will also admit charges of violating bank secrecy laws and the Trading With the Enemy Act, reports suggest.

Senate criticism

The settlement had been widely expected following a report by the US Senate, published earlier this year, that was heavily critical of HSBC’s money laundering controls.

The report suggested HSBC accounts in Mexico and the US were being used by drug barons to launder money.

It cited examples including the transfer of $ 7bn between HSBC’s Mexican and US subsidiaries between 2007 and 2008, made despite Mexico’s reputation as a centre of drug smuggling.

It also said HSBC regularly circumvented restrictions on dealings with Iran, North Korea, and other states under US sanctions.

HSBC admitted its money laundering controls were not strong enough following the Senate report.

On Tuesday the London-based multinational announced it had appointed a former US official to work as its head of financial crime compliance – a new position.

Bob Werner was previously the head of the US Treasury’s Office of Foreign Assets Control (OFAC) – the agency responsible for enforcing the US sanctions on countries including Iran.

He will be responsible for beefing up HSBC’s anti money laundering and sanctions compliance systems.

It is unclear what impact the case will have on HSBC’s business. The bank is the biggest in Europe by market capitalisation, and made pre-tax profits of $ 12.7bn for the first six months of 2012.

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Egypt army given temporary power to arrest civilians

CAIRO (Reuters) – Egypt’s Islamist president has given the army temporary power to arrest civilians during a constitutional referendum he is determined to push through despite the risk of bloodshed between his supporters and opponents accusing him of a power grab.

Seven people were killed and hundreds wounded last week in clashes between the Islamist Muslim Brotherhood and their critics besieging Mohamed Mursi’s graffiti-daubed presidential palace. Both sides plan mass rallies on Tuesday.

The elite Republican Guard has yet to use force to keep protesters away from the palace, which it ringed with tanks, barbed wire and concrete barricades after last week’s violence.

Mursi, bruised by calls for his downfall, has rescinded a November 22 decree giving him wide powers but is going ahead with a referendum on Saturday on a constitution seen by his supporters as a triumph for democracy and by many liberals as a betrayal.

A decree issued by Mursi late on Sunday gives the armed forces the power to arrest civilians and refer them to prosecutors until the announcement of the results of the referendum, which the protesters want cancelled.

Despite its limited nature, the edict will revive memories of Hosni Mubarak’s emergency law, also introduced as a temporary expedient, under which military or state security courts tried thousands of political dissidents and Islamist militants.

But a military source stressed that the measure introduced by a civilian government would have a short shelf-life.

“The latest law giving the armed forces the right to arrest anyone involved in illegal actions such as burning buildings or damaging public sites is to ensure security during the referendum only,” the military source said.

Presidential spokesman Yasser Ali said the committee overseeing the vote had requested the army’s assistance.

“The armed forces will work within a legal framework to secure the referendum and will return (to barracks) as soon as the referendum is over,” Ali said.

Protests and violence have racked Egypt since Mursi decreed himself extraordinary powers he said were needed to speed up a troubled transition since Mubarak’s fall 22 months ago.

The Muslim Brotherhood has voiced anger at the Interior Ministry’s failure to prevent protesters setting fire to its headquarters in Cairo and 28 of its offices elsewhere.

Critics say the draft law puts Egypt in a religious straitjacket. Whatever the outcome of the referendum, the crisis has polarized the country and presages more instability at a time when Mursi is trying to steady a fragile economy.

On Monday, he suspended planned tax increases only hours after the measures had been formally decreed, casting doubts on the government’s ability to push through tough economic reforms that form part of a proposed $ 4.8 billion IMF loan agreement.

“VIOLENT CONFRONTATION”

Rejecting the referendum plan, opposition groups have called for mass protests on Tuesday, saying Mursi’s eagerness to push the constitution through could lead to “violent confrontation”.

Islamists have urged their followers to turn out “in millions” the same day in a show of support for the president and for a referendum they feel sure of winning with their loyal base and perhaps with the votes of Egyptians weary of turmoil.

The opposition National Salvation Front, led by liberals such as Mohamed ElBaradei and Amr Moussa, as well as leftist firebrand Hamdeen Sabahy, has yet to call directly for a boycott of the referendum or to urge their supporters to vote “no”.

Instead it is contesting the legitimacy of the vote and of the whole process by which the constitution was drafted in an Islamist-led assembly from which their representatives withdrew.

The opposition says the document fails to embrace the diversity of 83 million Egyptians, a tenth of whom are Christians, and invites Muslim clerics to influence lawmaking.

But debate over the details has largely given way to noisy street protests and megaphone politics, keeping Egypt off balance and ill-equipped to deal with a looming economic crisis.

“Inevitability of referendum deepens divisions,” was the headline in Al-Gomhuriya newspaper on Monday. Al Ahram daily wrote: “Political forces split over referendum and new decree.”

Mursi issued another decree on Saturday to supersede his November 22 measure putting his own decisions beyond legal challenge until a new constitution and parliament are in place.

While he gave up extra powers as a sop to his opponents, the decisions already taken under them, such as the dismissal of a prosecutor-general appointed by Mubarak, remain intact.

“UNWELCOME” CHOICE

Lamia Kamel, a spokeswoman for former Arab League chief Moussa, said the opposition factions were still discussing whether to boycott the referendum or call for a “no” vote.

“Both paths are unwelcome because they really don’t want the referendum at all,” she said, but predicted a clearer opposition line if the plebiscite went ahead as planned.

A spokeswoman for ElBaradei, former head of the U.N. nuclear watchdog, said: “We do not acknowledge the referendum. The aim is to change the decision and postpone it.”

Mahmoud Ghozlan, the Muslim Brotherhood’s spokesman, said the opposition could stage protests, but should keep the peace.

“They are free to boycott, participate or say no, they can do what they want. The important thing is that it remains in a peaceful context to preserve the country’s safety and security.”

The army stepped into the conflict on Saturday, telling all sides to resolve their disputes via dialogue and warning that it would not allow Egypt to enter a “dark tunnel”.

A military source said the declaration read on state media did not herald a move by the army to retake control of Egypt, which it relinquished in June after managing the transition from Mubarak’s 30 years of military-backed one-man rule.

The draft constitution sets up a national defense council, in which generals will form a majority, and gives civilians some scrutiny over the army – although not enough for critics.

In August Mursi stripped the generals of sweeping powers they had grabbed when he was elected two months earlier, but has since repeatedly paid tribute to the military in public.

So far the army and police have taken a relatively passive role in the protests roiling the most populous Arab nation.

(Additional reporting by Edmund Blair and Yasmine Saleh; editing by Philippa Fletcher)

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