Spider-Man musical writer lands book deal
Glen Berger, one of the writers behind Broadway musical Spider-Man: Turn Off The Dark, is to reveal all about the disaster-prone show in a new book.
The big-budget production - featuring music by U2's Bono and The Edge - was plagued by problems including delays and a series of stunt accidents.
Publishers say Berger's book will give the "ultimate fly-on-the-wall account".
Song of Spider-Man: The Inside Story of the Most Controversial Musical in Broadway History is due out next year.
The show was eventually given an overhaul after its original director and co-creator, Julie Taymor, was fired.
Taymor then sued the producers, claiming she was not compensated for her work, before they sued her back, saying the director had failed to carry out the duties that were expected of her.
Producers eventually agreed to pay her hundreds of thousands of dollars in royalties.
Taymor was replaced by Philip William McKinley, who directed hit show The Boy From Oz starring Hugh Jackman.
Broadway history
Spider-Man: Turn Off the Dark began previews in November 2010 before finally opening in June 2011.
Several cast members were injured during around 180 preview performances, while performing elaborate stunts.
The musical, which cost $75 million (£48m) to make, is the most expensive Broadway show ever produced.
Early reviews were resoundingly negative, however following the revamp the show broke records in January when it had the highest single-week takings of any previous Broadway show.
It took $2.9m (£1.8m) over nine performances according to The Broadway League, which U2's The Edge called a "proud day" for everyone involved.
Bono added: "For all the problems, there was magic on the stage."
Berger has written several other plays including Underneath the Lintel and Great Men of Science, Nos 21 & 22, as well as collaborating on new musicals such as On Words and Onwards.
He also won two Emmys for his work in television, having penned several children's television shows such as Arthur and Curious George.
Bank of America sued for $1bn for alleged mortgage fraud
Bank of America is being sued for $1bn (£624m) for alleged mortgage fraud.
The civil lawsuit has been brought by the US Attorney Preet Bharara, the top federal prosecutor in Manhattan, New York.
He accuses Countrywide Financial, which Bank of America bought in 2008, of selling thousands of toxic home loans to Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac are government agencies that support the US mortgage market.
Bank of America has yet to comment.
Countrywide is accused of running a trading scheme from 2007 to 2009 that was deliberately designed to process loans at high speed without checks on their quality.
Mr Bharara said: "This lawsuit should send another clear message that reckless lending practices will not be tolerated."
He added that Countrywide's practices were "spectacularly brazen in scope."
Similar cases
The legal action against Bank of America follows similar moves by the US government earlier this month against Wells Fargo and JP Morgan Chase.
On 2 October, JP Morgan was sued for allegedly defrauding investors who lost more than $20bn on mortgage-backed securities sold by Bear Stearns.
JP Morgan, which bought the investment bank in March 2008, said the allegations related to actions at Bear Stearns prior to its takeover.
Meanwhile, on 10 October, Wells Fargo was also sued by federal authorities for alleged mortgage fraud.
The US government alleges that Wells Fargo lied about the quality of mortgages it handled, leading to huge losses for the Federal Housing Administration.
Wells Fargo has denied the allegations.
Apple victory as Samsung loses US trade ruling
A US International Trade Commission judge has ruled that Samsung infringed four of Apple's intellectual property patents.
However, the ruling was preliminary and needs to be upheld by the full commission.
It is another win for Apple, after it was awarded $1.05bn (£652m) in damages by a jury in a separate case in August.
The ITC can block the import of products into the US.
Judge Thomas Pender agreed that Samsung violated four of Apple's patents, but was not in violation of two others listed by Apple in the complaint.
Three of the patents are related to software features, while one covers Apple's hardware.
However, the Samsung products in this case do not include its latest devices, limiting the impact of a potential import ban into the US.
Samsung has repeatedly argued that any sales ban would limit choice and raise prices for consumers in the US.
Apple and Samsung have bought legal cases against each other in more than 10 countries, each accusing the other of violating patents, as the two battle for market share in the hugely lucrative mobile industry.
Former Goldman Sachs board member jailed for two years
A former Goldman Sachs board member who was found guilty of four criminal counts of insider trading has sentenced to two years in jail.
Rajat Gupta, 63, had leaked boardroom secrets to Raj Rajaratnam, a former hedge fund manager now serving 11 years in prison.
US District Court Judge Jed Rakoff also ordered Gupta to pay a $5m (£3m) fine.
Gupta said he regretted the impact of the case on his family and friends.
Reading from a statement, he said: "The last 18 months have been the most challenging period of my life since I lost my parents as a teenager."
He added: I've lost my reputation I built for a lifetime. The verdict was devastating."
During the court case, which resulted in Gupta being found guilty in June, the jury heard secret recordings of conversations between him and Rajaratnam.
The trial focused on a phone call made to Rajaratnam on 23 September 2008, minutes after Gupta had listened to a private conference call discussing a $5bn (£3.2bn) investment in Goldman Sachs by Warren Buffett's company Berkshire Hathaway. The deal was due to be made public after stock markets closed that day.
According to phone records, Rajaratnam bought $40m in Goldman Sachs stock moments after the phone call, earning nearly $1m.
Gupta, who was born in India and educated at Harvard, also served on the boards of Procter & Gamble, the Rockefeller Foundation and the Bill and Melinda Gates Foundation.
Hong Kong weakens local currency again
Hong Kong's central bank has intervened in financial markets again, weakening the value of its currency after it jumped in value.
This follows similar moves on Sunday and pushes the total cost of intervention in the past week to 14.3bn Hong Kong dollars ($1.85bn; £1.16bn).
Hong Kong limits the amount its currency can gain or fall to help maintain market and export stability.
The bank said that it may have to keep intervening to keep its currency cheap.
This is because weak economic conditions in the US and Europe have prompted many investors to look for better-performing assets in markets such as Hong Kong.
"We expect net inflows into the Hong Kong dollar will continue for some time," the Hong Kong Monetary Authority (HKMA) said in a statement.
"Since the US Federal Reserve's launch of the third round of quantitative easing, demand for Hong Kong dollars has increased and similar rises are also noted in other currencies within the region," it said.
The Hong Kong dollar is pegged at HK$7.80 to one US dollar, but can trade between HK$7.75 and HK$7.85.
Under the terms of the peg, the HKMA must intervene when the Hong Kong dollar hits either the upper or lower limit.
Hong Kong has maintained its currency's peg to the US dollar for the past 30 years.
While the peg has helped it steer its way through tough times, such as the Asian financial crisis in the late 1990s and the global financial crisis in 2008-09, questions have been raised about its effectiveness in the current global environment.
Critics have argued that by being linked to the US dollar, Hong Kong's monetary policy is heavily influenced by that of the US.
They say that given the difference in the economic conditions between the two, this is not in the best interests of Hong Kong.
The US economy has been going through a rough patch. In a bid to boost growth, it has maintained interest rates at between zero and 0.25% since December 2008.
Given its currency peg, Hong Kong has also had to keep its interest rates low, not least because higher rates would be likely to result in a surge in capital inflows to the territory and put pressure on its currency.
Analysts say the peg and the resulting low interest rates have played a role in the recent boom in housing prices in Hong Kong, raising fears of asset bubbles being formed.
"They have a phenomenally bubbly housing market - more prone to boom and bust - and a part of that is due to the peg of the US dollar," Sean Callow, a senior currency strategist at Wetspac told the BBC.
"Right now they have a stable currency, but a volatile economy."
-BBC
Nike sells Umbro to Iconix Brand Group for $225m
Sportswear giant Nike has agreed a deal to sell UK sports brand Umbro to US clothing company Iconix Brand Group for $225m (£140m).
Nike announced earlier this year it was looking to sell the Cheadle, Manchester-based firm, which specialises in football kits.
The deal is expected to go through by the end of the year.
Iconix owns a number of clothing brands, including Madonna's Material Girl and rapper Jay-Z's Rocawear.
"It is difficult to divest any business, but this action will enable us to focus on our highest-potential growth opportunities," said Nike boss Mark Parker.
"Umbro has a great heritage but, ultimately, as our category has evolved, we believe Nike football can serve the needs of footballers on and off the pitch."
Nike bought Umbro, which lost the contract to make the England football team's kit to Nike in August, in 2007.
Iconix boss Neil Cole said he was "thrilled" to be taking over the brand. "Umbro is an exciting acquisition with more than 30 licensees in over 100 countries with a devout following."
Israel and Hamas 'negotiate unofficial truce' in Gaza
Israel and Hamas, the Palestinian militant movement controlling Gaza, are said to have reached an unofficial ceasefire after days of deadly attacks.
The truce was negotiated with the help of Egypt but its exact terms and duration remain unknown, the BBC's Jon Donnison in Gaza City reports.
Five have been injured in Israel, since rocket attacks began on Monday.
Israel retaliated with air strikes on Gaza City, killing at least four militants.
Schools were closed on both sides of the border for fear of more attacks.
Earlier this week, Prime Minister Benjamin Netanyahu promised to continue "targeted attacks" on militants launching rockets into Israel.
"We didn't ask for this escalation and didn't initiate it," he said. "But if it continues, we are prepared to embark on a far more extensive and penetrating operation."
'Holy missions'
On Wednesday, more than 70 rockets were launched into southern Israel, injuring five people, two critically, according to the Israeli military.
In response, Israeli aircraft and tanks targeted rocket launching sites in northern Gaza.
Hamas's military wing, the Izz al-Din Qassam Brigades, confirmed it had been involved in firing dozens of rockets and mortars into Israel.
In a statement, the Izz al-Din Qassam Brigades and a smaller Gaza-based militant group, the Popular Resistance Committees (PRC), said: "These holy missions come in response to the repeated, continuous crimes of the enemy against our people."
The violence comes as the EU's foreign policy chief, Catherine Ashton, visits the region to try to revive the stalled Middle East peace process.
She was scheduled to meet Israeli President Shimon Peres and Mr Netanyahu. Her talks with Defence Minister Ehud Barak were cancelled on Wednesday so he could tour the border with Gaza.
On Thursday, Baroness Ashton will meet Palestinian Authority President Mahmoud Abbas and his Prime Minister, Salam Fayyad.
"This is a critical time for the wider Middle East," she said.
Hamas, which governs Gaza, is not even part of the peace process, which has seen little US engagement since direct negotiations collapsed two years ago, reports our correspondent.
Syria government 'agrees to Eid al-Adha ceasefire'
Syria's government and most opposition groups have agreed to a ceasefire during this weekend's Eid al-Adha holiday, the UN's peace envoy has said.
Lakhdar Brahimi said he hoped to use the lull in fighting to "discuss a longer and more effective ceasefire".
However, Syria's foreign ministry said the truce had not been agreed, and it would announce a decision on Thursday.
Rebels were split over the ceasefire plan, with one jihadist group saying it would not observe it.
The al-Nusra Front, a shadowy group that says it has carried out several high-profile bomb attacks, said it would not be tricked into playing "filthy games".
The main armed rebel group, the Free Syrian Army (FSA), said any ceasefire observed by the government would be reciprocated.
But the group's Gen Mustafa al-Sheikh added: "It is impossible that the regime will implement the truce, even if it says it will."
Eid al-Adha, the Festival of the Sacrifice, commemorates the willingness of Abraham to sacrifice his son Ishmael as proof of obedience to God.
In other developments:
- Syrian state TV says a car bomb has exploded in Damascus, killing six people and injuring 20 others
- BBC reporters in Damascus say warplanes have been flying over the capital and firing on some areas
- Opposition forces and the government blame each other for the killing of at least 16 civilians in Douma, a north-western suburb of the capital
Government divisions
Mr Brahimi has travelled across the Middle East over the past two weeks to promote his plan to use a ceasefire to kickstart a political process.
"There is agreement from the Syrian government for a ceasefire during the Eid," he told reporters in the Egyptian capital, Cairo.
"Other factions in Syria that we were able to contact - heads of fighting groups - most of them also agree on the principle of the ceasefire."
Mr Brahimi later briefed the UN Security Council, and they announced that they supported his plan.
Shortly after his announcement, the Syrian foreign ministry said the government was still studying the proposal and would announce its "final position" on Thursday.
But Russian diplomats said they had "indications" that Damascus would approve the plan.
Some analysts say divisions among the rebels over the ceasefire are just one part of the problem because there are also differences of opinion within the government.
While politicians might approve a ceasefire, the army and security officials are viewed by some as more likely to object and continue to push for a military solution.
White House knew of extremist claims in Benghazi attack
Two hours after first being notified of an attack on the U.S. diplomatic mission in Benghazi, Libya, a government e-mail to the White House, the State Department and the FBI said an Islamist group had claimed credit, according to a copy obtained by CNN.
An initial e-mail was sent while the attack was still underway, and another that arrived two hours later -- sent from a State Department address to various government agencies including the executive office of the president -- identified Ansar al-Sharia as claiming responsibility for the attack on its Facebook page and on Twitter.
The group denied responsibility the next day.
However, the e-mails raise further questions about the seeming confusion on the part of the Obama administration to determine the nature of the September 11 attack that left U.S. Ambassador Christopher Stevens and three other Americans dead.
Two White House officials, speaking on condition of not being identified on Wednesday, said the government e-mails about the attack were not an intelligence assessment. They also noted that there was conflicting information about Ansar al-Sharia denying responsibility.
"They were a part of the many different reports we were receiving that day," one of the White House officials said of the e-mails. "There are always multiple and conflicting reports in the initial hours of an attack. That's why you have an investigation."
Secretary of State Hillary Clinton advised reporters to wait until a review panel she appointed to investigate what happened completed its work.
"The Independent Accountability Review Board is already hard at work looking at everything, not cherry picking one story here or one document there but looking at everything, which I highly recommend as the appropriate approach to something as complex an attack like this," Clinton said Wednesday.
"You know, posting something on Facebook is not in and of itself evidence. I think it just underscores how fluid the reporting was at the time and continued for some time to be," Clinton said.
She repeated her earlier pledge to "take whatever measures are necessary to fix anything that needs to be fixed, and we will bring those to justice who committed these murders."
Meanwhile, White House spokesman Jay Carney noted the e-mail about the claim of responsiblity "was an open-source, unclassified e-mail referring to an assertion made on a social media site that everyone in this room had access to and knew about instantaneously."
Carney added that "the whole point of an intelligence community and what they do is to assess strands of information and make judgments about what happened and who was responsible."
The day after the attack took place, President Barack Obama referred to it as an "act of terror."
But in the following days, Carney maintained there was no evidence suggesting the attack was "planned or imminent."
The administration also suggested that an anti-Muslim video produced in the United States likely fueled a spontaneous demonstration in Benghazi as it had in Cairo, where the U.S. Embassy also was attacked.
Clinton, State Department spokeswoman Victoria Nuland and Susan Rice, U.S. ambassador to the United Nations, all cited the video as a motivating factor in the attack.
On September 13 -- two days after the attack -- a senior U.S. official told CNN that the violence in Libya was not the work of "an innocent mob."
"The video or 9/11 made a handy excuse and could be fortuitous from their perspective, but this was a clearly planned military-type attack," the official said.
However, it wasn't until September 19 that Matthew Olsen, the nation's counterterrorism chief, told senators that it was a terrorist attack. The next day, Carney also said it was "self-evident that what happened in Benghazi was a terrorist attack."
The e-mails obtained by CNN provide additional insight into the Benghazi attack.
The first one, sent at 4:05 p.m. ET, or 10:05 p.m. in Libya, described a diplomatic mission under attack.
"Approximately 20 armed people fired shots; explosions have been heard as well," the e-mail said. Stevens and four other mission staff were in the compound safe haven, it added.
Less than an hour later, at 4:54 p.m. ET, another e-mail reported "firing at the U.S. Diplomatic Mission in Benghazi has stopped and the compound has been cleared." It said a search was underway for consulate personnel.
The final e-mail, at 6:07 p.m., noted the claim of responsibility for the attack. The subject line said: "Update 2: Ansar al-Sharia Claims Responsibility for Benghazi Attack."
"Embassy Tripoli reports the group claimed responsibility on Facebook and Twitter and has called for an attack on Embassy Tripoli," the e-mail said.
The Facebook claim of involvement was subsequently denied by the group at a news conference in the following days, but not very convincingly.
"We are saluting our people for this zeal in protecting their religion, to grant victory to the prophet," a spokesman for Ansar al-Sharia said at the time. "The response has to be firm."
It is common for one or more claims of responsibility to follow high-profile attacks on U.S. targets, and intelligence officials analyze them for validity before declaring any legitimate. For example, groups make false claims to seek publicity and raise their profile.
Analysts examine a group's history, whether it made previous claims that were legitimate, whether it has the capacity to carry out such an attack, and whether known members of the group participated in the attack in assessing the validity of claims of responsibility.
CNN
Terrorist Sentenced to 37-Year prison Term in ‘Millennium’ Bomb Plot
A U.S. federal court has sentenced convicted Algerian terrorist Ahmed Ressam to a 37-year-prison term for the 1999 New Year's Eve plot to bomb Los Angeles International Airport.
The court in Seattle, Washington imposed the sentence Wednesday, after prosecutors appealed an earlier 22-year sentence as too lenient.
Prosecutors pushed for stiffer penalties, arguing Ressam continues to pose a threat for reneging on an agreement to provide evidence against other suspects in the bombing plot. After Ressam withdrew his cooperation, federal prosecutors were forced to drop charges against two suspected co-conspirators.
Ressam was arrested in December 1999 as he tried to enter the United States from British Columbia, after customs inspectors noted suspicious behavior at a ferry landing in Port Angeles, Washington.
After Ressam tried to flee, authorities found his rental car packed with enough explosives to produce a blast 40 times greater than a typical car bomb.
A jury convicted him in 2001 on nine felony counts and sentenced him to 22 year in prison in 2005. Prosecutors appealed that sentence after Ressam stopped cooperating in the U.S. probe.
Before reneging on the deal, Ressam was interviewed repeatedly by terror investigators in the United States and Europe. He was credited in a classified FBI report with linking Osama bin Laden lieutenant Abu Zubaydah to the airport bombing plot. Zubaydah, captured in Pakistan in 2002, remains in U.S. custody at Guantanamo Bay, Cuba.