Torrential Rains Strand Thousands in Japan
Japanese troops have airlifted supplies to thousands of people who remain cut off by floods and mudslides triggered by days of torrential rains that have killed at least 26 people.
More than 3,000 people are stranded in Fukuoka prefecture, southwestern Japan.
More than 90 millimeters of rain an hour fell in Kyoto prefecture in western Japan, flooding hundreds of homes.
The Japan Meteorological Agency on Sunday said the worst is over but it predicted more heavy rain in some areas through Monday.
‘Ice Age’ Is Top Weekend Film With Sales of $46 Million
“Ice Age: Continental Drift,” the fourth film in the animated series from News Corp.’s Twentieth Century Fox, opened in first place in U.S. and Canadian theaters with $46 million in sales.
“The Amazing Spider-Man” came in second with $35 million in receipts for Sony Corp., researcher Hollywood.com Box-Office said today in an e-mailed statement.
“Ice Age: Continental Drift” faced little fresh competition as the only new film opening in wide release this weekend. The previous installments of the series, about four prehistoric creatures who embark on adventures, took in more than $2.1 billion in worldwide ticket sales from three previous pictures, according to industry researcher Hollywood.com.
“Hollywood right now is absolutely focusing on franchises, sequels, stories that have proven themselves over time,” said Paul Sweeney, a media and entertainment analyst for Bloomberg Industries. While the weekend’s top film “came in a little below expectations, it’s still a pretty solid number.”
Domestic ticket-sales forecasts for “Ice Age: Continental Drift” ranged from $48.5 million at Box Office Mojo to as much as $56 million, the prediction of Box Office Guru. The second film in the franchise, “Ice Age: The Meltdown,” opened with $68 million in sales and the third film, “Ice Age: Dawn of the Dinosaurs,” brought in $41.7 million in its opening weekend, according to researcher Hollywood.com.
‘Amazing Spider-Man’
The fourth installment follows Manny, Sid, Diego and Scrat on an adventure after their continent is set adrift, caused by Scrat’s pursuit of the acorn he’s been after for each of the previous three films. Ray Romano and Denis Leary star. John Leguizamo and Queen Latifah co-star.
“The Amazing Spider-Man” has now collected $200.9 million in domestic sales in two weekends, according to Hollywood.com. The film revives a franchise that took in $2.55 billion in worldwide ticket sales from three previous pictures, according to researcher Box Office Mojo. The latest picture was made for about $230 million, the researcher said.
This installment features a new cast, with U.K.-raised Andrew Garfield replacing Tobey Maguire in the title role. Garfield portrays the orphaned Peter Parker, nursing a crush on high-school classmate Gwen Stacy while trying to unravel the mystery behind his parents’ disappearance. A visit to a high- tech research laboratory results in a spider bite that endows him with extraordinary powers.
Emma Stone is featured as Gwen. Martin Sheen and Sally Field co-star as Peter’s Uncle Ben and Aunt May.
‘Brave’
“Ted,” the R-rated comedy from Comcast Corp.’s Universal Pictures, came in third with sales of $22.1 million. Mark Wahlberg and Mila Kunis star in the movie about a man whose teddy bear comes to life as a result of a childhood wish. He must choose whether to stay with his girlfriend or keep his friendship with the foul-mouthed toy.
In “Brave,” the fourth-highest grossing film with sales of $10.7 million, a rebellious princess Merida prefers riding horses and archery to the sedentary duties of a princess. Her refusal to hew to a traditional role at the royal court leads to unforeseen consequences that place her family in jeopardy.
“Magic Mike,” featuring Channing Tatum in a film about the seedy world of male strippers, came in fifth, generating $9.03 million in sales for Time Warner Inc.’s Warner Bros.
Weekend revenue for the top 12 films fell 39 percent to $151.9 million from the year-earlier period, Hollywood.com said. Domestic film sales this year have risen 7 percent to $6.05 billion, with attendance up 9 percent.
The amounts below are based on actual ticket sales for July 13 and July 14 and estimates for today.
Rev. Avg./ Pct. Total
Movie (mln) Theaters Theater Chg. (mln) Wks
===============================================================
1 ICE AGE $46.0 3,881 $11,853 -- $46.0 1
2 AMAZING SPIDER-MAN 35.0 4,318 8,106 -44 200.9 2
3 TED 22.1 3,303 6,705 -31 158.9 3
4 BRAVE 10.7 3,392 3,153 -45 195.6 4
5 MAGIC MIKE 9.03 3,090 2,922 -42 91.9 3
6 SAVAGES 8.74 2,635 3,315 -45 31.5 2
7 TYLER PERRY’S MADEA 5.6 2,004 2,794 -45 55.6 3
8 KATY PERRY: PART OF ME 3.74 2,732 1,367 -48 18.6 2
9 MOONRISE KINGDOM 3.66 924 3,963 -19 32.4 8
10 MADAGASCAR 3 3.5 2,285 1,532 -53 203.7 6
11 TO ROME WITH LOVE 2.54 744 3,413 -18 8.7 4
12 THE AVENGERS 1.3 747 1,723 -41 613.5 11
Top 12 Film Grosses:
Abu Dhabi Bypasses Hormuz Strait in Exporting First Pipeline Oil
Abu Dhabi started exporting its first crude from a pipeline that bypasses the Strait of Hormuz, shipping the fuel to a refinery in Pakistan.
The pipeline, stretching from Abu Dhabi to the neighboring sheikhdom of Fujairah on the Gulf of Oman, was loading the first shipment of 500,000 barrels to the Pakistani plant, Mohamed Bin Dhaen Al-Hamli, oil minister for the United Arab Emirates, said yesterday at a ceremony to inaugurate the network. International Petroleum Investment Co. spent $4.2 billion building the 423- kilometer (263-mile) link, Khadem Al-Qubaisi, managing director of the Abu Dhabi-run fund known as IPIC, said at the ceremony in Fujairah.
Abu Dhabi, the U.A.E.’s capital and holder of more than 90 percent of its oil, built the link as an export route for crude that avoids Hormuz at the mouth of the Persian Gulf. Iran has threatened to block the strait, a chokepoint for tankers carrying a fifth of the world’s traded oil, in retaliation for sanctions targeting the country’s nuclear program. The U.A.E., the fifth-biggest oil producer in OPEC, pumped 2.61 million barrels a day in June, according to data compiled by Bloomberg. Fujairah is one of the U.A.E.’s seven sheikhdoms.
An Iranian lawmaker, Mohammad-Hassan Asferi, said yesterday the pipeline’s limited capacity would keep it from obviating the need of regional suppliers to export most of their oil through the strait. He dismissed the project as “propaganda and political maneuvering guided by the Western countries, especially the United States, which aims to reduce the strategic importance of the Strait of Hormuz,” according to state-run Press TV. Asferi serves on the national security and foreign policy committee of Iran’s parliament.
Iran
Abu Dhabi’s first export cargo from Fujairah is destined for Pak Arab Refinery Ltd., a joint venture between Pakistan’s government and IPIC, Al-Qubaisi said. IPIC owns a 40 percent stake in the plant, which regularly uses about 40,000 barrels a day of Abu Dhabi crude, of the 100,000 barrels it consumes daily, he said.
Abu Dhabi earlier shipped a test cargo from Fujairah to its own refinery at Ruwais, inside the Persian Gulf, said Abdul Munim Al-Kindi, general manager of Abu Dhabi Co. for Onshore Oil Operations. As the main oil producer at the emirate’s onshore fields, the company, known as ADCO, will operate the pipeline and gradually expand its capacity by year-end, he said. The network is designed to load tankers at three offshore buoys, Al- Kindi said.
Fujairah’s Expansion
IPIC’s Al-Qubaisi said his company plans to spend as much as $5 billion to build a refinery in Fujairah with a capacity of about 250,000 barrels a day to produce for local sale and export, further enhancing the port’s importance as a hub for the processing, storage and shipment of fuels. The company is working with another state-owned investment fund, Mubadala Development Co., on a project for a terminal at the port for imports of liquefied natural gas. Fujairah is already among the world’s three biggest refuelling ports for commercial ships, along with Singapore and Rotterdam.
Al-Hamli, the oil minister, said the pipeline gives buyers an alternative location from which to receive crude. It will allow them to fill very large crude carriers, or VLCCs, the largest class of tanker capable of carrying 2 million barrels of oil. Filling such vessels in the Gulf of Oman will reduce shipping traffic in Hormuz, he said.
Shipping Flexibility
“The pipeline is going to be beneficial because our clients will be able to lift bigger cargoes,” he said. “Currently you can only lift 1 million barrels a day from Ruwais. From Fujairah now our clients now can bring in VLCCs and lift more.”
The pipeline can transport 1.5 million barrels a day of Murban crude from Habshan, a collection point for Abu Dhabi’s onshore oil fields, across a desert and mountains to Fujairah. The system is able to pump as much as 1.8 million barrels a day at periodic intervals, officials said at the inauguration. IPIC will likely charge ADCO “a few cents per barrel” for use of the pipeline, Al-Qubaisi said.
The first oil exported from Fujairah is priced the same as Murban crude loaded inside the Gulf, three people with knowledge of the matter said this month. Abu Dhabi may later devise a separate formula including a premium to account for the cost of using the pipeline, said the people, who asked not to be identified because the matter is confidential. Abu Dhabi officials yesterday did not comment on pricing.
China economic growth slows to 7.6% in second quarter
China's economy has grown at its slowest pace in three years as investment slowed and demand fell in key markets such as the US and Europe.
Gross domestic product rose by 7.6% in the second quarter, compared with the same period a year ago. That is down from 8.1% in the previous three months.
In March, Beijing cut its growth target for the whole of 2012 to 7.5%.
China accounts for about a fifth of the world's total economic output and any slowdown may hamper a global recovery.
At the same time, many of Asia's biggest and emerging economies are becoming increasingly reliant on China as a trading partner.
"China has been a big factor for the slowdown in Asia this year," said Tai Hui from Standard Chartered Bank in Singapore.
He added that if China's growth does not pick up in the second half of the year then "that's going to mean a very difficult second half for a lot of the manufacturers in this region".
Spurring growth
However, despite Friday's slower growth figures many analysts tried to allay fears of a so-called hard landing in China's economy and its subsequent impact on the rest of the world.
"If you get a drop in the growth rate of 1 percentage point per annum, that's not a lot in terms of the world gross domestic product," Edmund Phelps, a professor of political economy at Columbia University and a Nobel prize winner, told the BBC.
He added that China had a lot of ammunition to counter the slowdown, some of which it has already started using because of the patchy recovery in the US, and the ongoing debt and economic issues in the eurozone.
China's central bank has cut the amount of money banks must keep in reserve in order to boost lending, and it recently cut the cost of borrowing twice in one month.
Earlier this week, Premier Wen Jiabao said that boosting investment would also be crucial for stabilising growth, fuelling expectation that more state-driven stimulus measures would be on the way.
"Now that China's growth is slowing, there are calls for yet another stimulus," said Edward Chancellor, global Strategist at investment management firm GMO.
Slowdown
But analysts warned that China's growth problems may not be solved by a simple injection of capital and a new round of government spending. Especially as many of today's issues can be traced back to the way the country tried to kick start growth after the global financial crisis in 2008-2009.
At the time the central government began pumping huge amounts of money into the economy, mainly on infrastructure and construction spending.
This led to excess capacity, a surge in property prices and an increase in consumer costs and inflation.
Faced with these problems and amid fears that the economy may be overheating, policy makers decided to implement measures to curb lending and slow inflation.
Those steps, along with a drop in demand for Chinese goods from key markets such as Europe and the US, have caused the most recent cycle of slowing growth.
In 2011, China's economy grew by 9.2%, down from 2010's figure of 10.4% growth.
But while the longer-term trend is of a slowdown, China also released a number of other figures on Friday and they painted a more nuanced and mixed picture of the economy.
According to the official figures, retail sales increased by 13.7% in June, little changed from May's 13.8% figure.
At the same time, electricity output, an indicator that many analysts use to calculate current business and consumer activity, was also flat in June at 393bn kilowatt-hours.
Optimists, however, would have been buoyed by news that new bank loans increased to $144.4bn in June, up from $124.4bn in May.
The BBC's John Sudworth in Shanghai says the data will do nothing to stop the economic squabbling over whether China is heading for a hard or soft landing.
"Rising stock piles of coal paint a vivid picture of just the kind of indicator the bears will use when arguing that 7.6% is proof of the impending economic catastrophe," he says.
"But here's another picture for you. A new DHL delivery hub built on the outskirts of Shanghai shows that there are still plenty of bulls out there too.
"For them 7.6% is probably a turning point and they also have their indicators of choice to support the case."
Blackberry maker RIM told to pay $147m in patent case
Blackberry maker Research in Motion (RIM) has been ordered to pay $147m in damages after losing a patents case.
A jury in San Francisco upheld claims by Mformation Technologies Inc that RIM infringed patents it took out in 1999.
The software involved allows companies to access employees' mobile phones remotely for upgrades, password changes or to delete data.
The fine was calculated by the judge as $8 per Blackberry device in use since the claims were first filed in 2008.
"We believe [the patents have] been fundamental to the success of Research in Motion," said Amar Thakur, a lawyer for the winning side.
The damages only relate to royalties on past sales in the US, and does not cover future sales or sales outside the US.
"Mformation created the mobile device management category in the late 1990s and was innovating in this area well before most of the market understood the fundamental importance of wireless mobility management," said the firm's founder Rakesh Kushwaha in a press release.
The case adds to RIM's problems. Since the introduction of Apple's iPhone in 2007, sales in the Canadian firm's core Western market have been steadily declining.
The company is cutting 5,000 jobs - almost a third of its workforce.
RIM said in a press release that it was: "disappointed by the outcome and is evaluating all legal options.
"Additionally, the trial judge has yet to decide certain legal issues that might impact the verdict. RIM will await those rulings before deciding whether to pursue an appeal."
Visa and Mastercard make $7.25bn fees dispute settlement
Credit card companies Visa and Mastercard and major US banks have agreed to a $7.25bn (£4.65bn) settlement to retailers over card fees.
The case, which has been going on for seven years, is over firms colluding to fix the fees that stores pay to process credit and debt card payments.
The settlement is thought to be the largest of its kind in US history.
It involves a $6bn payment to stores and an agreement to reduce swipe fees for eight months, valued at $1.2bn.
An additional $525 million has been set aside to pay to the stores which sued individually, including grocery chains Kroger and Safeway and the Rite Aid pharmacy chain.
Previous settlements
The settlement involves credit card giants Visa and Mastercard, as well as major US banks which issue their cards including JPMorgan Chase, Bank of America and Citibank.
Craig Wildfang, the lead lawyer representing the merchants, told AFP: "Over time, the reforms induced by this case and in this settlement should help reduce card-acceptance costs to merchants, which in turn, will result in lower prices for all consumers."
Visa and Mastercard already paid a combined $3bn to settle a lawsuit over their "honour all cards" policies, which tied acceptance of credit to debit cards.
The US Department of Justice also brought and settled a civil suit against the two firms in 2010 over policies that prevented stores from offering their customers cheaper forms of payments.
However, that settlement left in place credit card company rules that stop stores from charging customers more when they use certain payment cards.
Lawyers representing the credit card companies said Friday's settlement was in the best interests of all involved.
Visa and Mastercard stock both climbed in after-hours trading following the announcement of the deal.
Lopez to leave American Idol
Following the departure of Aerosmith's Steve Tyler, singer Jennifer Lopez has announced that she too is giving up her role as American Idol judge.
"I honestly feel like the time has come that I have to get back to doing the other things that I do that I've put kind of on hold," she said on Friday.
Lopez spent two seasons as a judge on the US talent search, whose viewing figures have slumped in recent years.
The programme's 12th season is due to commence in the autumn.
"I just don't feel like I can be there every single day all the time like I have been for the past two years," Lopez said in a phone call to Idol host Ryan Seacrest's radio show.
The 42-year-old had earlier said it would be "hard" to continue on the show without Tyler on the judging panel.
Her departure comes amid reports that broadcaster Fox is seeking to recruit younger judges in an attempt to revitalise the show.
Mariah Carey, Celine Dion and Mary J Blige are among the star names that have been mooted as potential replacements.
With Tyler and Lopez gone, record producer Randy Jackson - a judge since the show's 2002 inception - is the sole remaining member of the panel.
In a statement, the 56-year-old said Tyler and Lopez were "truly two of the most talented and consummate professionals I've worked with".
Speaking on Thursday, Tyler said he had thought "long" and "hard" about whether to continue but said the time was right to return to his band Aerosmith.
The band is on a nationwide tour with an album due out in the autumn.
Based on the UK show Pop Idol, American Idol first aired in 2002 and had become the biggest show on US television by 2005.
But it has struggled to retain viewers since Simon Cowell left the show in 2010 to launch the American version of X Factor.
Son of Sylvester Stallone, Sage, found dead at 36
Hollywood star Sylvester Stallone has been left "devastated and grief-stricken" following the sudden death of his actor son, Sage.
Sage Stallone, 36, was found unresponsive in his flat in Studio City, near Hollywood, on Friday.
He was pronounced dead at the scene, amid some media reports of a medication overdose.
There was no sign of foul play or trauma, and no suicide note was found, a coroner said.
Sage Stallone appeared alongside his father at the age of 14 in Rocky V.
Bottles of prescription pills were recovered from the flat, but it was unclear what medication they contained or whether they were connected with the death, Assistant Chief Coroner Ed Winter said.
A post mortem examination will be performed in the next few days, but it will take several weeks before toxicology tests can be completed, Mr Winter told the Associated Press.
The website TMZ quoted unidentified sources as saying that Sage Stallone had died of an overdose of pills, and that the authorities were trying to find out whether it was accidental or intentional.
'Tragedy'
"Sylvester Stallone is devastated and grief-stricken over the sudden loss of his son, Sage Stallone... His loss will be felt forever," the star's publicist, Michelle Bega, said in a statement.
"His compassion and thoughts are with Sage's mother, Sasha," the statement added, referring to the star's first wife, Sasha Czack. "Sage was a very talented and wonderful young man."
Sage Stallone's lawyer, George Braunstein, said the body had been found by a housekeeper.
"He was in good spirits, and working on all kinds of projects... He was planning on getting married," Mr Braunstein told the New York Post.
"I am just devastated. He was an extremely wonderful, loving guy. This is a tragedy."
Sage Stallone appeared in several films and made his debut as Sylvester Stallone's on-screen son in the 1990 film Rocky V.
He also acted alongside his father in the 1996 film Daylight.
Christina Milian Throws Poo at The Dream – Bad Dad
Break ups can get really ugly, especially when there are kids involved.
Despite The Dream and Christina Milian being separated for some time now, some mud is still being thrown.
Christian interviewed with Houston’s 97.9 The Box recently and discussed working with the Cash Money crew as well as her relationship between her, her ex-husband and their daughter, Violet.
Well, daddy is sort of not in Violet’s life at the moment and is playing deadbeat.
“I’m not happy at the moment, but I have come to the realization that I have to be 200% mom for her and it’s not about finances, it’s about spending time,” she said. “We live in different cities, he’s in Atlanta and I’m in LA. There are planes and plenty of money for airplanes so… as far as Skyping: I’m just gonna leave it at that. My daughter is a great kid and someday their will be a healthy man in my life that will love her the way I do.”
Despite her playing both roles, Christina is doing her thing and is working on some new music after signing with Cash Money. She calls it her new family and says she’s happy where she’s at.
World Junior 200-metre champ keen to join Racers
Turks and Caicos' first-ever World Junior Championships medal winner, Delano Williams, is keen on joining Jamaica's Racers Track Club.
Williams, who studies and trains in Jamaica at Munro College, won the 200m final at the 14th IAAF World Junior Championships last Friday in a new national-record time of 20.48 seconds.
The University of the West Indies, Mona-based club has an impressive contingent of 200-metre runners, who are conditioned by head coach Glen Mills. These include reigning Olympic and World champion plus world record holder Usain Bolt.
In addition to Bolt, there is Yohan Blake, whose time of 19.26 seconds is next only to Bolt's world record of 19.19 seconds, and Warren Weir, who entered the sub-20 club this year.
"This is their (Turks and Caicos') first IAAF World Junior medal. I am grateful because they have done a lot for me," Williams expressed after his victory.
"I am sure other things can be put in place to ensure I go to a great school and a track club while I am staying in Jamaica."
He added: "Well, actually, (I want to join) Racers Track Club. I have seen tremendous talent there and performance. Warren Weir, for example, he just took up the 200 metres this year and ran 19.90 (19.99 seconds), that's spectacular. That (Racers) is a 200 metres club, so I think I might be leaning to that club."
TWO YEARS IN THE MAKING
Williams revealed that his triumph was the result of a two-year plan following his failure to make the final at the 2010 championship staged in Mocton, Canada.
"I didn't even make the semi-final. I ran 21.56 (seconds) and got beat out of the semis by 100th of a second by a Venezuelan guy. I will never forget that," he expressed, while crediting his development to Jamaica.
"I want to say thanks to the Turks and Caicos Federation; they brought me here. Thank you, very much, I really appreciate it," Williams said. "I want to say also 'big up' to Jamaica. They have done a lot for me. I train and study there, so if I didn't run in Jamaica, I wouldn't be this fast. So thanks to Jamaica and I will be back soon," he added.
Williams intends to go back to the Turks and Caicos to spend time with his family, including his twin sister, before returning to Jamaica to begin upper-sixth form studies at Munro.
"I am not really going to celebrate. I just want to get back to Jamaica. I really love that place."
He is also looking forward to making the transition to the senior level, having failed in his bid to make this year's British Olympic team.
"This is like a pool, so I have to go in the ocean and see what I can find," Williams stated. "I know it is going to be harder, but if others can do it, I know I can do it as well," he added.