Oprah Winfrey and James Earl Jones awarded Oscars
Chat show queen Oprah Winfrey and actor James Earl Jones are to receive honorary Oscars, it has been announced.
Winfrey, who was nominated for a best supporting actress Oscar in 1985 for The Colour Purple, will receive the Jean Hersholt Humanitarian Award for her philanthropic work.
While Jones, along with makeup artist Dick Smith, will receive awards for their outstanding careers.
The prizes will be handed out the Governors Awards in November.
Although best known for her long-running chat show, Winfrey has also lent her voice to several films in recent years including The Princess and the Frog, Bee Movie and Charlotte's Web.
Her philanthropic efforts include the Oprah Winfrey Foundation and the Oprah Winfrey Leadership Academy for Girls, which opened in South Africa in 2007.
Jones, who is best known as the voice of Darth Vader in the Star Wars film, has appeared in more than 50 films during his career and was Oscar nominated in 1971 for The Great White Hope.
His other credits include Field of Dreams, Patriot Games and The Hunt for Red October.
Known in the industry as "the godfather of makeup", Smith won an Oscar in 1984 for his work on Amadeus.
He also worked on The Exorcist, Taxi Driver and The Deer Hunter.
The Academy of Motion Picture Arts and Sciences said the honorary awards are given to individuals for "extraordinary distinction in lifetime achievement, exceptional contributions to the state of motion picture arts and sciences, or for outstanding service to the Academy".
Leonardo DiCaprio tops Forbes male Hollywood rich list
Leonardo DiCaprio and Johnny Depp have topped a list of Hollywood's highest-earning actors, according to Forbes.com.
The pair earned $77 million (£47m) and $50 million (£30m) respectively to the year ending on 1 May.
Comedian Adam Sandler, who earned $40m (£24m), captured third spot while Will Smith and Tom Hanks were close behind, making $36m (£22m) and $35m (£21m).
Forbes described Sandler as one of the surest things in Hollywood.
They added that even if his films were not loved by critics they were popular with the ticket-buying public.
Although Smith has been focusing more on his family lately, he still managed to be among the top five best-paid actors.
Hanks' film Larry Crowne was a flop but the actor also voices Woody in the Toy Story films.
The third Toy Story movie was the highest-grossing animated film of all time.
DiCaprio, who moved from fifth to first place, had two box office hits last year, Shutter Island and Inception, which between them earned more than $1 billion (£614m).
In his next films he'll play FBI chief J. Edgar Hoover and the title role in The Great Gatsby.
Depp, last year's top paid actor, continues to sell tickets as Jack Sparrow in the Pirates of the Caribbean franchise.
Forbes compiled the list based on earning after speaking to agents, lawyers, producers and industry insiders to estimate what each actor earned for the year that ended 1 May.
Latin musicians sue over Grammy changes
Four Latin jazz musicians are suing the organisers of the Grammy Awards over axing their genre as an award category.
Grammy nominees Bobby Sanabria and Mark Levine are among those accusing the National Academy of Recording Arts and Sciences of devaluing their music.
The legal claim calls for the best Latin jazz album category to be reinstated at the annual ceremony.
In a statement, the academy said it "believes this frivolous lawsuit is without merit".
"They shouldn't have done this," said Roger Maldonado, a lawyer representing the musicians which also includes Ben Lapidus and Eugene Marlow.
"Not only does it devalue the category of music and the work these musicians do, it makes it much harder for them to gain recognition."
It was announced in April that the number of award categories was being cut from 109 to 78.
'Enormous value'
The changes included eliminating the male and female divisions in the pop vocal category to one field, as well as reducing categories like best Latin jazz album and best classical crossover album.
Instead, artists who would have competed in those categories will now be part of a broader pool competing in a general field.
"The concern is by lumping several categories together, it makes it much easier for larger record labels and those artists who have already gained recognition to dominate," Mr Maldonado said.
Legal papers claim the changes will have a detrimental effect on the musicians' careers by taking away the Latin jazz category.
"Even being nominated for the award has enormous value for these musicians," Maldonado added.
Other musicians have also criticised the award changes.
Carlos Santana and Herbie Hancock delivered a letter of protest to the academy in May, arguing the changes had made without consulting academy members.
They said the reductions unfairly target ethnic music and called for the categories to be reinstated.
But academy president Neil Portnow said a members' committee had been consulted about the changes.
Japan government and central bank intervene to cut yen
The Japanese government and central bank have intervened to weaken the yen and protect economic growth.
In the morning, Japan moved into the currency markets, cutting the value of the yen against the US dollar.
The Bank of Japan announced further monetary easing in the afternoon.
These were unilateral moves by Japan, unlike an intervention in March, which was backed by the G7 group of developed nations.
The yen fell against the US dollar on the news, though analysts questioned the long-term impact of the intervention.
'One-sided moves'
The government has repeatedly warned that the strong yen threatens growth and recovery from a deadly earthquake and tsunami.
Since the last intervention, the yen had gained about 5% against the US dollar, and over the last 12 months it was almost 12% stronger.
"Intervention doesn't generally have a long-term impact on the value of the yen," said Naomi Fink of Jefferies.
"Its aim is to send a warning to speculators and to prevent markets from becoming disorderly."
The dollar was recently trading at close to 78.47 against the yen, up from 77.
Finance Minister Yoshihiko Noda confirmed the move to the media but declined to comment on the size of the intervention.
Japan's Chief Cabinet Secretary Yukio Edano said the government was stepping in at the right moment.
"Recent currency moves were one sided and could have hurt the economy, and considering this, the intervention was timely," Mr Edano told reporters.
Difficult situation
The BBC's Tokyo correspondent Roland Buerk says the government has complained that the rise of the yen has not been based on economic fundamentals.
Japan's economic growth has been stagnating and has been put under increased pressure by the cost of rebuilding following the deadly earthquake and tsunami in March.
But despite these problems, the yen has been boosted in recent months as many investors have moved away from the US dollar and the euro amid fears of an expanding debt crisis.
Other currencies, such as the Swiss franc, which are seen as being less risky have also gained.
In a surprise move on Wednesday, the Swiss central bank cut interest rates in an attempt to weaken the franc.
Analysts questioned how much governments such as Japan or central banks such as Switzerland's can do on their own to weaken currencies.
"The yen's advance reflects the difficult economic and fiscal situation of both the US and the eurozone," said Takashi Kamiya from T&D Asset Management.
"So even if Japan intervenes in the market, it won't be able to combat the yen's rise in the long run on its own."
BBC
Italy 'to default' but Spain may 'just' escape
Debt-laden Italy is likely to default, but Spain might just avoid it, according to the British think tank, the Centre for Economics and Business Research.
With the countries weighed down by debt, the think tank modelled "good" and "bad" economic scenarios for both.
It found that Italy will not avoid default unless it sees an unlikely big jump in economic growth.
However, it said, "there is a real chance that Spain may avoid default".
Even though Italy has managed to run tight budgets, and has vowed to eliminate its deficit by 2014, the economy needs a significant boost in growth.
But its economy grew by just 0.1% in the first quarter of 2011 and further growth is expected to remain sluggish.
On Wednesday, Italian Prime Minister Silvio Berlusconi addressed parliament, saying the economy was "strong" and the nation's banks "solvent".
But many economists believe that the eurozone's third largest economy risks being engulfed in the debt crisis.
In a report published on Thursday, the CEBR calculated that Italy's debt would rise from 128% of annual output to 150% by 2017 if bond yields stay above the current 6% and growth remains stagnant.
"Even if the cost of borrowing goes back down to 4%, the growth rate is so anaemic that we see the debt-GDP ratio remaining at 123% in 2018," said Doug McWilliams, the CEBR's chief executive.
The conditions in Spain are better because its debt is much lower. Even under the "bad" scenario, Madrid's debt ratio would climb to no higher than 75% of national output.
"Fingers crossed but there is a real chance that Spain may avoid default and debt restructuring, unless it gets dragged down by contagion," Mr McWilliams said.
"Realistically, Italy is bound to default, but Spain may just get away without having to do so," he said.
European stock markets continue to slide
European shares have fallen sharply as fears grow about eurozone debt levels and the health of the global economy.
The main share indexes in London and Frankfurt were both down 2.3%, while the Cac 40 in Paris dropped by 1.9%.
US stocks initially fell after the release of disappointing service sector data, before finishing higher. Analysts saw it as a short-term rebound though.
Meanwhile, the price of gold, seen as a safe investment in times of economic uncertainty, hit a new record high.
The precious metal touched $1,672.65 an ounce in early trading.
The Swiss National Bank also lowered its target for inter-bank lending in an attempt to lower demand for the Swiss franc, which is also seen as a safe investment and has risen sharply in recent weeks.
Cheaper oil
US markets opened lower after figures from the Institute of Supply Management suggested the country's service sector grew at its slowest pace in 17 months in July.
Separate figures from the Commerce Department showing factory orders falling in the same month contributed to the market gloom.
But the Dow Jones gained in afternoon trading to close 0.25% higher, while the S&P 500 rose 0.5%
"We are not in a bear market psychology yet, but we are definitely in a solid correction psychology," said James Dailey, portfolio manager at Team Asset Strategy Fund.
Meanwhile, oil prices fell to their lowest close in a month, with US light crude falling $1.86 to $91.93 a barrel and Brent crude dropping $3.23 to $113.23.
Earlier, Asian markets had closed lower, with Japan's Nikkei closing down 2.1% and Hong Kong's Hang Seng down 1.9%.
Government bond yields in Spain and Italy also rose, indicating a rise in the risk associated with lending to the two countries.
Figures also released on Wednesday suggested a slowdown in growth in the eurozone services sector.
The closely-watched Markit Services PMI index fell to a near two-year low of 51.6 in July, down from 53.7 in June. Any score above 50 indicates expansion.
Shifting focus
US lawmakers managed to avoid a debt default on Tuesday by raising the debt ceiling. However, analysts say there has been a sharp change in global focus from the US debt issues.
"Disappointing economic data on both sides of the Atlantic, as well as surging Italian and Spanish bond yields, has seen risk appetite plummet as pessimism about the global recovery starts to take hold with a vengeance," said Michael Hewson at CMC Markets in London.
Koichi Ono from Daiwa Securities Capital Markets in Tokyo said: "I think the conditions have completely changed this week.
"Until last week, people have been saying the US debt ceiling was the problem. Now they talk about worries about the health of the economy."
This was underscored by official data released on Tuesday, showing a fall in US consumer spending for the first time in nearly two years.
The figures also showed that incomes had barely risen, indicating that the economy was stalling in the first half of this year.
In addition to the US, eurozone debt worries are continuing to unsettle investors.
Spain and Italy are under renewed pressure because of concerns that the eurozone bailout fund is not enough to protect their larger economies if they can no longer pay their debts.
"It's a pretty bleak picture," said Justin Gallagher of RBS in Sydney.
"The implications for the Italian market and economy going through something similar to Greece is pretty frightening. People are suggesting it's not bailout-able. That's how big it is."
FAA shutdown: Obama urges Congress to settle latest row
President Barack Obama has again urged Congress to end a funding row that has partially shut down the body which oversees US air safety.
He said it was a "lose-lose situation" that could cost the government $1bn (£610m) in uncollected air fare taxes.
Many lawmakers left for summer breaks after the US debt crisis was resolved, without extending the Federal Aviation Administration (FAA) budget.
About 70,000 construction workers on airport projects have had to stop work.
Safety inspectors are now being asked to work without pay. Air traffic control is not affected.
'Get this done'
Nearly 4,000 FAA employees, including engineering technicians and computer specialists, have been made to take a temporary leave of absence.
The FAA was forced into partial shutdown after its operating authority expired on 23 July.
The shutdown is costing the federal government some $200m per week in passenger ticket taxes that can no longer be collected, officials say.
Lawmakers are not due back from their annual leave until September.
President Obama said on Wednesday: "This is a lose-lose-lose situation that can be easily solved if Congress gets back into town and does its job."
When asked what he could do to step in, Mr Obama told reporters: "I have made calls to key leaders, and I am urging them to get this done."
A White House official later confirmed that Mr Obama had called House Speaker John Boehner about the issue on Wednesday.
Mr Boehner said the problem could be resolved if Senate Democrats would only accept $16.5m in air service subsidy cuts that the House last month attached to a bill to extend FAA's operating authority.
'Conservative hostage takers'
Senate Democrats opposed the cuts and went into recess on Tuesday until early September without voting on the bill.
A spokesman for Senate Democratic leader Harry Reid said the Senate would not allow House Republicans to "jam through a policy" on subsidies within a stop-gap funding extension bill.
He said the real issue was that Republicans wanted to scrap new rules which give airline employees greater trade union rights.
The partial shutdown could last at least until congressmen arrive back from their annual break.
But Mr Reid said on Wednesday it could be resolved sooner if Republicans agreed to a congressional procedure called unanimous consent that did not require lawmakers to cast votes in person.
He also said conservatives were "taking Americans hostage" by not passing the bill which would end the partial shutdown.
The FAA debate was overshadowed earlier in the week by last-minute legislation passed in Congress to increase the US debt ceiling and avert a financial default.
On Wednesday, Transportation Secretary Ray LaHood, a Republican, also said Congress should come back and pass on a short-term bill resolving the dispute.
"This is not fair to people. These are people that work hard, these are people right in the middle of construction season," Mr LaHood said.
"This is why people shake their heads when they think about Congress," he added.
Airline passengers are not being charged for ticket taxes, which average around 10% of each fare, while the political scuffle continues.
However, within hours of the shutdown on 23 July many airlines had raised their fares by the amounts equivalent to the taxes that were no longer being collected.
Mr LaHood responded to the hikes at a White House news conference in late July, saying airlines should not have their raised fares and that he had contacted major carriers to express his dissatisfaction.
The air service subsidy programme costs the federal government about $200m per year, about the amount the government lost during the first week of the FAA partial shutdown.
Syria unrest: UN condemns government crackdown
The UN Security Council has condemned the Syrian government for its deadly crackdown on protesters.
It is the first clear condemnation issued by the Security Council, which includes longstanding allies of Syria such as Russia.
The statement was adopted over the fears of some members that any action could lead to Libya-style intervention.
It comes as the Syrian army attacks Hama, a centre of opposition protest, with reports of much loss of life.
Dozens of people are believed to have been killed in the action against Hama, with residents saying tanks have now shot their way into Assi (Orontes) Square, in the centre of the city of 800,000 people.
Human rights groups say at least 140 people have been killed in the Syrian unrest since Sunday, mainly in Hama, adding to a civilian death toll believed to be more than 1,600 since March.
Protesters have vowed to rally every evening during the holy month of Ramadan, after nightly prayers.
Late on Wednesday, there were reports of large demonstrations in several Syrian cities.
Activists told AFP news agency that 50,000 people demonstrated in the eastern city of Deir al-Zour, 20,000 in Duma, north of Damascus, and 40,000 in Homs.
At least four people were killed when troops fired on protesters in Damascus, near the southern city of Deraa, and in the central town of Palmyra.
'Brutally shocking'
In Wednesday's statement, the council says it "condemns the widespread violations of human rights and the use of force against civilians by the Syrian authorities".
It says those responsible for the violence should be held accountable.
European members of the 15-nation council had pushed for a strong resolution condemning the Syrian government and calling for a rights inquiry.
Source:BBC
Famine Declared in 3 New Parts of Somalia
The United Nations says famine has spread to three new parts of southern Somalia, including areas in the capital, Mogadishu.
A statement Wednesday said famine conditions are present in two districts of the Middle Shabelle region, the Afgoye corridor displaced persons settlement, and in the Mogadishu displaced persons community.
The statement says rates of acute malnutrition and mortality have passed famine thresholds in all three areas.
The U.N. declared Somalia's Bakool and Lower Shabelle regions to be famine zones last month.
Wednesday's statement says a humanitarian emergency persists across all of southern Somalia, and says “tens of thousands of excess deaths have already occurred.”
It says the current aid response is inadequate because of problems with funding, logistics and access. The U.N. predicts that famine will spread across the entire south in coming weeks and will persist until December.
Somalia is at the center of the worst drought to hit the Horn of Africa in 60 years. The United Nations says more than 12 million people in the region are in need of food aid.
Earlier Wednesday, the U.N. refugee agency said the number of Somali refugees in the Horn of Africa has climbed to more than 860,000, many of them forced out by the famine.
The agency says another 1.5 million Somalis are internally displaced, mostly in south-central Somalia.
On Tuesday, British relief agency Oxfam said governments and donors need to fulfill their pledges of aid more quickly.
International aid efforts have been hampered by the militant group al-Shabab, which controls much of southern and central Somalia.
The group, which is trying to overthrow the Somali government, has denied a famine is taking place and has tried to block aid workers from reaching starving Somalis.
Egypt's Mubarak Pleads 'Not Guilty' in Historic Trial
Egypt's deposed president, Hosni Mubarak, wheeled into a Cairo courtroom in a hospital bed, has pleaded not guilty to charges that he ordered the killing of some 850 revolutionary protesters who drove him from power in an 18-day February uprising. After Wednesday's dramatic session, the judge in the case adjourned the trial until August 15.
The 83-year-old former president, who also is charged with corruption, is the first Arab leader to face trial in person since the so-called "Arab Spring" of popular revolts swept across much of North Africa and the Middle East this year.
Mr. Mubarak's two sons, Alaa and Gamal - co-defendants in the case - stood next to their father inside the courtroom's large metal cage and spoke with him during the opening session. Both men denied separate corruption charges against them. Other defendants include Mr. Mubarak's former interior minister, Habib al-Adly, six senior police commanders and a prominent businessman ((Hussein Salem)), who is being tried in absentia. They are scheduled to appear before the court again Thursday.
Mr. Mubarak, al-Adly and the six policemen could be sentenced to death if convicted. The former president also is charged with abuse of power and squandering public wealth.
The trial took an unexpected turn when Mr. Mubarak's lawyers requested that the head of the military council now ruling Egypt, a former intelligence chief and 1,600 others testify. They argued that Egypt's army chief and head of state, Field Marshal Mohamed Hussein Tantawi, effectively "took control" of the country after January 28, when troops were deployed in the streets of Cairo.
News channels around the world broadcast the start of the historic trial. Tens of millions throughout the Arab world watched the spectacle on live television, including many Egyptians who saw their ruler of nearly 30 years clad in a prisoner's white robes and reclining on a gurney.
Crowds also gathered outside the courthouse to watch on a large television screen. At one point, supporters and opponents of Mr. Mubarak threw rocks at one another.
Egypt's judiciary moved the location of the trial to the Cairo Police Academy for security reasons.
The former president had been living under house arrest with his family at the Red Sea resort of Sharm el-Sheikh, where aides say he has been in poor health since leaving office. At the close of Wednesday's session, the judge ordered that Mr. Mubarak stay at a local hospital in Cairo for the duration of the proceedings.
The trial came only after heavy pressure from activists on Egypt's ruling military council. Up to the last minute, many Egyptians had doubted Mr. Mubarak would actually appear in court, expecting health issues would be used as an excuse for him to stay away.