Bernanke's "cliff" comments break two-day rally

NEW YORK (Reuters) - Wall Street halted its two-day rally on Tuesday, after Federal Reserve Chairman Ben Bernanke said the central bank lacks tools to cushion the economy from the impact of the "fiscal cliff."

The day's biggest disappointment was Hewlett-Packard Co shares , which sank to a 10-year low after the computer and printer maker swung to a fourth-quarter loss and announced a $5 billion charge related to "accounting improprieties." The stock slid 12 percent to close at $11.71.

Bernanke, in comments before the Economic Club of New York, said the Fed does not have the ability to offset the damage that would result if politicians fail to strike a deal to prevent a series of mandatory tax increases and spending cuts scheduled to go into effect early next year.

The statement caused a downdraft in the market, though the equity market cut most of its losses before the end of the day.

"This is a more realistic and pragmatic picture of where we are, compared to what we've been hearing for the past couple of days from politicians that are mostly PR stunts," said James Dailey, portfolio manager at TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.

Stocks had rallied for the last two sessions after Washington politicians sounded an encouraging note that a deal to avoid the U.S. fiscal cliff could be reached. The gains followed two weeks of sharp losses that pushed the S&P 500 down through the 200-day moving average, a key benchmark of the market's long-term trend.

The S&P ended Tuesday near that level, which was 1,382.68.

The Dow Jones industrial average <.dji> slipped 7.45 points, or 0.06 percent, to 12,788.51 at the close. But the Standard & Poor's 500 Index <.spx> edged up 0.93 of a point, or 0.07 percent, to finish at 1,387.82. The Nasdaq Composite Index <.ixic> inched up 0.61 of a point, or 0.02 percent, to close at 2,916.68.

Dow component HP said it took an $8.8 billion charge in the quarter, with $5 billion related to its acquisition of software firm Autonomy, citing "serious accounting improprieties." HP's market value is now just $23 billion, compared with $100 billion just two years ago.

Best Buy Co shares fell 13 percent to $11.96 after the consumer electronics retailer reported a net loss of $13 million for the third quarter on weaker-than-expected sales at its established stores.

Another factor weighing on stocks was Moody's Investors Service's reduction of France's sovereign rating by one notch to Aa1 after the market's close on Monday. Moody's cited an uncertain fiscal outlook as a result of the weakening economy.

"This brings forward a whole new set of problems to the euro -zone issue. When the lifeguards, in this case, Germany and France, are in trouble, when they need to save people like Greece and Spain, that could be a big concern," Dailey said.

Earlier, data showed U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market recovery was picking up momentum, even though permits for future construction fell.

An index of housing-related shares <.hgx> shot up 2.5 percent.

Volume was roughly 5.6 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of around 6.5 billion.

Advancers outnumbers decliners on the NYSE by a ratio of about 4 to 3. On Nasdaq, the opposite trend took hold, with about 13 stocks falling for every 12 that rose.

(Reporting by Angela Moon; Editing by Jan Paschal)

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Gaza truce pressure builds, Cairo in focus

GAZA/JERUSALEM (Reuters) - International pressure for a ceasefire in the Gaza Strip puts Egypt's new Islamist president in the spotlight on Tuesday after a sixth day of Palestinian rocket fire and Israeli air strikes that have killed over 100 people.

Israel's leaders weighed the benefits and risks of sending tanks and infantry into the densely populated coastal enclave two months before an Israeli election, and indicated they would prefer a diplomatic path backed by world powers, including U.S. President Barack Obama, the European Union and Russia.

Any such solution may pass through Egypt, Gaza's other neighbor and the biggest Arab nation, where the ousting of U.S. ally Hosni Mubarak and election of President Mohamed Mursi is part of a dramatic reshaping of the Middle East, wrought by the Arab Spring and now affecting the Israeli-Palestinian conflict.

Mursi, whose Muslim Brotherhood was mentor to the founders of Hamas, took a call from Obama on Monday telling him the group must stop rocket fire into Israel - effectively endorsing Israel's stated aim in launching the offensive last week. Obama, as quoted by the White House, also said he regretted civilian deaths - which have been predominantly among the Palestinians.

"The two leaders discussed ways to de-escalate the situation in Gaza, and President Obama underscored the necessity of Hamas ending rocket fire into Israel," the White House said.

"President Obama then called Prime Minister Netanyahu of Israel and received an update on the situation in Gaza and Israel. In both calls, President Obama expressed regret for the loss of Israeli and Palestinian civilian lives."

Three Israeli civilians and 108 Palestinians have been killed. Gaza officials say over half of those killed in the enclave were civilians, 27 of them children.

EGYPT SEES DEAL

Mursi has warned Netanyahu of serious consequences from a ground invasion of the kind that left over 1,400 people dead in Gaza four years ago. But he has been careful not to alienate Israel, with whom Egypt's former military rulers signed a peace treaty in 1979, or Washington, a major aid donor to Egypt.

A meeting on Tuesday in Cairo between Mursi and Ban Ki-moon, the secretary-general of the United Nations who flew in late on Monday, could shed light on the shape of any truce proposals.

Egyptian Prime Minister Hisham Kandil told Reuters: "I think we are close, but the nature of this kind of negotiation, (means) it is very difficult to predict."

Israeli media have said Israeli officials are also in Cairo to talk. And Ban is due to meet Netanyahu in Jerusalem soon.

After Hamas leader Khaled Meshaal laid out demands in Cairo that Israel take the first step in restoring calm, and warned Netanyahu that a ground war in Gaza could wreck his re-election prospects in January, a senior Israeli official denied a Hamas assertion that the prime minister had asked for a truce.

"Whoever started the war must end it," Meshaal said, referring to Israel's assassination from the air last Wednesday of Hamas's Gaza military chief, a move that followed a scaling up of rocket fire onto Israeli towns over several weeks.

An official close to Netanyahu told Reuters: "Israel is prepared and has taken steps and is ready for a ground incursion which will deal severely with the Hamas military machine.

"We would prefer to see a diplomatic solution that would guarantee the peace for Israel's population in the south. If that is possible, then a ground operation would no longer be required," he added. "If diplomacy fails, we may well have no alternative but to send in ground forces."

NETANYAHU CONSIDERS

Fortified by the ascendancy of fellow Islamists in Egypt and elsewhere, and courted by fellow Sunni Arab leaders in the Gulf, keen to draw the Palestinian group away from old ties to Shi'ite Iran, Hamas has tested its room for maneuver, as well as longer-range rockets that have reached the Tel Aviv metropolis.

As Netanyahu and his top ministers debated their next moves in a meeting that lasted past midnight, Israeli statistics showed some easing in the ferocity of the exchanges on Monday.

Israeli police counted 110 rockets, causing no casualties, of which 42 were shot down by anti-missile batteries. Israel said it had conducted 80 air strikes. Compared to over 1,000 rockets fired in total, and 1,350 air strikes, the indications were that the level of violence had fallen on Monday.

Nonetheless, blood was shed and anger seethed. Hamas said 4-year-old twin boys had died with their parents when their house in the town of Beit Lahiya was struck from the air. Neighbors said the occupants were not involved with militant groups.

Israel had no immediate comment on that attack. It says it takes extreme care to avoid civilians and accuses Hamas and other militant groups of deliberately placing Gaza's 1.7 million people in harm's way by siting rocket launchers among them.

Nonetheless, fighting Israel, whose right to exist Hamas refuses to recognize, is popular with many Palestinians and has kept the movement competitive with the secular Fatah movement of Palestinian President Mahmoud Abbas, who remains in the West Bank after losing Gaza to Hamas in a civil war five years ago.

"Hamas and the others, they're our sons and our brothers, we're fingers on the same hand," said 55-year-old Faraj al-Sawafir, whose home was blasted by Israeli forces. "They fight for us and are martyred, they take losses and we sacrifice too."

Thousands turned out on Monday to mourn four children and five women who were among 11 people killed in an Israeli air strike that flattened a three-storey home the previous day.

The bodies were wrapped in Palestinian and Hamas flags. Echoes of explosions mixed with cries of grief and defiant chants of "God is greatest!".

ISRAELI INVESTIGATION

Israel said it was investigating the strike that brought the block crashing down on the al-Dalu family, where the dead spanned four generations. Some Israeli newspapers said the house might have been targeted by mistake.

For the second straight day, Israeli missiles blasted a tower block in the city of Gaza housing international media. Two people were killed there, one of them an Islamic Jihad militant.

In scenes recalling Israel's 2008-2009 winter invasion of the coastal enclave, tanks, artillery and infantry have massed in field encampments along the sandy, fenced-off border.

Israel has also authorized the call-up of 75,000 military reservists, so far mobilizing around half that number.

Although 84 percent of Israelis support the current Gaza assault, according to a poll by Israel's Haaretz newspaper, only 30 percent want an invasion.

With the power balances of the Middle East drastically shifted by the Arab Spring during a first Obama term that began two days after Israel ended its last major Gaza offensive, the newly re-elected U.S. president faces testing choices to achieve Washington's hopes for peace and stability across the region.

In an echo of frictions over the civil war in Syria, Russia accused the United States on Monday of blocking a bid by the U.N. Security Council to condemn the escalating conflict in the Gaza Strip. Washington has generally stopped the U.N. body from putting what it sees as undue pressure on its Israeli ally.

(Writing by Alastair Macdonald; Editing by Kevin Liffey)

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Review: Wii U Filled With Potential

The Nintendo Wii turns six this month, making the video game system past its prime in console years. Nintendo and third-party developers have been slowly grinding Wii titles to a halt as all prepare for its successor, the $ 300 Wii U (say it with us, We-you), to launch today.

WATCH: Wii U Video Review

The latest Nintendo comes with a shiny new console and a shiny new GamePad tablet controller. (They may actually be a little too shiny, as the system and controller easily pick up smudges and fingerprints.) A mess of long cords also come with the system, including the Wii U’s power cord, the GamePad’s charger, the HDMI cord and the motion sensor’s long, thin cord.

The box is packed with contents, but also high expectations.

The Console
The GamePad controller, which we will get to in a second, is one of the biggest changes to the system, but there are a lot of other changes inside the actual console. With an IBM multi-core processor, 2GB of RAM, and an AMD Radeon graphics chip, a Nintendo console is capable for the first time of pushing along full HD, 1080p games on your HDTV. It connects to your HDTV via that aforementioned HDMI cord, which is kindly included in the box.

At least for a brief period we have a Nintendo with better internal organs than the Xbox 360 and Sony PlayStation, though not many expect that to last.

Of note, the graphics processor on the Wii U is far more advanced than its competition, but the computer processor has been hinted to be a little less powerful than both rivals. This means stronger graphics, but potential processing issues when more moving items are presented on screen.

The GamePad
Back to the main event — the Wii U’s GamePad controller. Nintendo’s latest toy takes the best aspects of the company’s top-selling handheld, the Nintendo DS, and has supersized them, putting a larger, 6.2-inch touchscreen in your hands. But that’s not all that is found in the controller. It also has a front-facing camera, stylus, dual analog sticks, an accelerometer and a gyroscope.

At 1.1 pounds the controller is easy to hold and very light. And while it is a bit wide, it is durable enough to avoid much damage when in the hands of an enraged 7-year-old. Yes, I slammed it on a carpeted floor a few times and it withstood the abuse.

There is only one GamePad included in the box and you can expect there to be fighting over it. At the moment, Nintendo isn’t selling GamePads separately, but that’s intentional; there are no games that support dual GamePad experiences at the moment.

Nintendo calls its one-pad approach “asymmetric gameplay,” where the person using the GamePad has a different role in how games are played, equivalent to being “it” in tag or the dungeon master in “Dungeons & Dragons.” For this role, what they see on the controller’s screen is sometimes completely different than what others see on the TV.

For instance, in “Nintendo Land‘s Animal Crossing: Sweet Day,” the person with the GamePad controls two characters while the person with the extra non-GamePad controller controls just one. The person using the GamePad sees their characters on the touchscreen, while the non-GamePad player sees theirs on the TV.

Nintendo is releasing a Pro controller with the Wii U for an extra $ 50. The controller looks very similar to the Xbox 360 controller, and while we do wish it was included for the $ 300 price, you don’t have to buy that controller if you want to add more players. That’s because your original Wii games and Wiimote controllers will work with the new system.

Nintendo sold 97 million Wii consoles in six years and plenty of Nintendo fans have stashes of iconic white wands sitting around the house. All those still in love with motion controls can rest easy, this move means all your past, present and future arm flailing will endure.

Word to the wise: if you haven’t already purchased WiiMotion Plus add-on accessories for your old Wiimotes, now is the time, they’re crucial for games like Zelda Battle Quest in “Nintendo Land.”

Since the Gamepad is wireless, it can be used when away from the TV, but not too far away. You can play a game on it while in another room in the house, but it needs to be in close proximity to the console. You’ll want to make sure you’re in close proximity to the charger, too. All that technology inside the Gamepad takes a hit on battery life; after four hours of continuous gameplay it begins to warn you of its need for juice.

The Games
In 2006, the Wii launched with “Wii Sports,” a game included in the box and built to demonstrate the capabilities of the system. “Wii Sports” was big on simplicity, utilizing just a few buttons and bit of stick waving, making it the ultimate casual gaming experience.

Today’s Wii U’s launch is complimented by “Nintendo Land,” a world that contains 12 mini-games in one. (It comes in the box with the $ 350 Deluxe Wii U version and costs $ 60 on its own.) Some games take advantage of the stylus while others require a mix of the analog sticks, motion capabilities, and the actual touchscreen. The variety is a great showcase but lacks the level of simplicity that made “Wii Sports” an instant hit.

If anything, the Wii U’s sampling of gameplay varieties will get you excited thinking what might be possible with the new hardware. Drawing with the stylus on your GamePad and seeing the end result on a TV screen is extremely satisfying. A possible “Mario Paint” meets “Draw Something” could be gigantic. My colleague Joanna Stern couldn’t get enough of flicking stars on the touch screen in “Takamaru’s Ninja Castle,” I could see a full game centered around that mechanic doing very well.

At launch, there are almost two-dozen titles with various degrees of GamePad integration, spanning almost every genre. It feels like there should be more that directly take advantage of the touchscreen, however. We will be reviewing these over the course of the week, but I will say the $ 60 New Super Mario Bros. U seems like a must-have, just to experience Mario in HD for the first time.

The Social and Media Capabilities
With the Wii U comes a broadening of the Nintendo Network, the structure that has allowed Nintendo 3DS players to compete with each other online. On the Nintendo Network, video chat is now available through the GamePad‘s front-facing camera.

Mii avatars are being more integrated than ever into games, you can expect to be the star of the game more often and to see your Miis interacting with those of your friends, sharing screenshots, messages and accomplishments.

Even with more social networking and revamped cooperative play, the focus of this system is bringing back single players and defining Nintendo as a brand for both social gatherings and “me time,” hence the “U” in Wii U. More “hardcore” single player games will be in the mix as well, reflected at launch with “Call of Duty: Black Ops 2″ and “Batman: Arkham City” availability.

Like the competing consoles, Nintendo is also making moves to bring media capabilities to the console with YouTube, Netflix, Hulu Plus, and Amazon Instant Video integration. Nintendo has also announced TVii, an interface that integrates with those Internet video services and your cable box, but it has been delayed until December.

The Bottom Line
On paper, the Wii U sounds like a simple win. Take Nintendo’s best-selling handheld, their best-selling system (Wii), the graphics of their competitors and mash that up with latest developments in tablet technology. And in many ways it is, combining the best of the last five years in an incredibly unique and well-designed package. That said, there’s a ways to go in terms of games that take advantage of the touchscreen, the GamePad’s battery life, and we really do wish another controller was included in the box.

Wii U has major potential and if Nintendo plays their cards right, the system can become a major player, especially once the media capabilities and game options are fully stocked. The second-generation Wii might not be as game-changing as the orginal, but it certainly is a lot of fun to play with.

Joanna Stern contributed to this review.

Also Read
Gaming News Headlines – Yahoo! News

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Miley Cyrus Celebrates in New York - with Her Entire Family!

11/19/2012 at 07:05 PM EST

From left: Noah, Bill Ray, Tish, Miley, Brandi and Braison Cyrus

Bruce Glikas/Filmmagic

The Cyrus family has a lot to be thankful for this year.

Miley Cyrus is celebrating her 20th birthday on Friday. Her dad, Billy Ray Cyrus, is starring as slick lawyer Billy Flynn in the Broadway hit musical Chicago. And it looks like (practically) the whole family is together for the occasions.

Photos show Billy Ray – dressed in a tuxedo – his wife Tish and their kids, Miley, 19, Noah, 12, Brandi, 25, and Braison, 18, all posing together backstage at the Ambassador Theater in New York City on Sunday. (Brother Trace is the only one absent.)

"The whole family had a great time," an observer tells PEOPLE.

They came backstage at intermission to spend time with Billy Ray in his dressing room, and again after the show to meet some of his fellow cast members.

Billy Ray, who began his Broadway run recently, told PEOPLE that his family hadn't come to see him yet partly because he wanted to get comfortable in the role. "I gotta get my legs up [before they see it]," he said. "I think everybody's coming in for Thanksgiving. So we'll see what happens."

Now that they've seen it, it seems his family is giving his performance a thumbs-up. "So glad to be back with my daddy (@billyraycyrus) for the first time in 3 MONTHS!! He was so great on broadway," Noah Tweeted on Monday.

Miley, too, is having a blast in the Big Apple. "What a dope morning. So many fans outside my hotel this a.m. in NYC. If there's this much chaos NOW imagine when I drop this record! #ohsnap," she Tweeted.

As for Billy Ray, whose Chicago run ends Dec. 23, he says taking the part on Broadway has been great fun – and a great challenge.

"I couldn't come up here and do something predictable," he says of the role. "I was offered Rock of Ages, and my instincts said, 'That's a bit predictable for me.' "

But when the role of Billy Flynn came up, Ray explained, "He's the total opposite of me" – and that was just what he wanted.

For more on Billy Ray Cyrus – including what he does (and doesn't) know about Miley's wedding plans – pick up PEOPLE, on newsstands Friday

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New push for most in US to get at least 1 HIV test

WASHINGTON (AP) — There's a new push to make testing for the AIDS virus as common as cholesterol checks.

Americans ages 15 to 64 should get an HIV test at least once — not just people considered at high risk for the virus, an independent panel that sets screening guidelines proposed Monday.

The draft guidelines from the U.S. Preventive Services Task Force are the latest recommendations that aim to make HIV screening simply a routine part of a check-up, something a doctor can order with as little fuss as a cholesterol test or a mammogram. Since 2006, the Centers for Disease Control and Prevention also has pushed for widespread, routine HIV screening.

Yet not nearly enough people have heeded that call: Of the more than 1.1 million Americans living with HIV, nearly 1 in 5 — almost 240,000 people — don't know it. Not only is their own health at risk without treatment, they could unwittingly be spreading the virus to others.

The updated guidelines will bring this long-simmering issue before doctors and their patients again — emphasizing that public health experts agree on how important it is to test even people who don't think they're at risk, because they could be.

"It allows you to say, 'This is a recommended test that we believe everybody should have. We're not singling you out in any way,'" said task force member Dr. Douglas Owens, of Stanford University and the Veterans Affairs Palo Alto Health Care System.

And if finalized, the task force guidelines could extend the number of people eligible for an HIV screening without a copay in their doctor's office, as part of free preventive care under the Obama administration's health care law. Under the task force's previous guidelines, only people at increased risk for HIV — which includes gay and bisexual men and injecting drug users — were eligible for that no-copay screening.

There are a number of ways to get tested. If you're having blood drawn for other exams, the doctor can merely add HIV to the list, no extra pokes or swabs needed. Today's rapid tests can cost less than $20 and require just rubbing a swab over the gums, with results ready in as little as 20 minutes. Last summer, the government approved a do-it-yourself at-home version that's selling for about $40.

Free testing is available through various community programs around the country, including a CDC pilot program in drugstores in 24 cities and rural sites.

Monday's proposal also recommends:

—Testing people older and younger than 15-64 if they are at increased risk of HIV infection,

—People at very high risk for HIV infection should be tested at least annually.

—It's not clear how often to retest people at somewhat increased risk, but perhaps every three to five years.

—Women should be tested during each pregnancy, something the task force has long recommended.

The draft guidelines are open for public comment through Dec. 17.

Most of the 50,000 new HIV infections in the U.S. every year are among gay and bisexual men, followed by heterosexual black women.

"We are not doing as well in America with HIV testing as we would like," Dr. Jonathan Mermin, CDC's HIV prevention chief, said Monday.

The CDC recommends at least one routine test for everyone ages 13 to 64, starting two years younger than the task force recommended. That small difference aside, CDC data suggests fewer than half of adults under 65 have been tested.

"It can sometimes be awkward to ask your doctor for an HIV test," Mermin said — the reason making it routine during any health care encounter could help.

But even though nearly three-fourths of gay and bisexual men with undiagnosed HIV had visited some sort of health provider in the previous year, 48 percent weren't tested for HIV, a recent CDC survey found. Emergency rooms are considered a good spot to catch the undiagnosed, after their illnesses and injuries have been treated, but Mermin said only about 2 percent of ER patients known to be at increased risk were tested while there.

Mermin calls that "a tragedy. It's a missed opportunity."

___

Online:

Task force recommendation: http://www.uspreventiveservicestaskforce.org

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Budget talk optimism spurs Wall Street rally

NEW YORK (Reuters) - Stocks bounced higher for a second consecutive session on Monday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation's fiscal crunch.

Stronger-than-expected earnings from Lowe's and Tyson Foods, as well as encouraging housing data, also contributed to the market's advance. Tyson and Lowe's were the top two percentage gainers on the S&P 500.

The S&P 500 is up more than 2 percent in the last two sessions as rhetoric from legislators over the weekend suggests a deal could be reached to stave off the looming "fiscal cliff," a series of tax and spending changes that will begin to take effect in the new year. The two sides are still far apart in negotiations, however.

The benchmark S&P index had fallen 5.3 percent between Election Day and Friday's rebound, as investors took the opportunity to sell stocks - including some of the year's best performers - just in case Washington cannot come to an agreement and taxes on dividends and capital gains rise in 2013.

"Everyone is quietly breathing a sigh of relief, because frankly, we are no longer looking over the edge of a cliff, we are looking at an opportunity to step back and recalibrate," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

However, the rebound could be a short-lived reprieve from the sharp declines and market volatility could still rise, depending on progress in negotiations. A number of sectors were considered oversold on a technical basis - suggesting a buying opportunity.

"There is no question, what lit the fuse was constructive conversation, constructive talking points out of Washington that has done far more to help the market than anything else - the backdrop is the oversold" market, Kenny said.

Monday's advance marked the biggest percentage gain for the S&P 500 since November 6, when the European Central Bank announced a new bond-buying program aimed at containing the region's debt crisis.

Shares of Lowe's Cos Inc , the world's No. 2 home improvement chain, jumped 6.2 percent to $33.96 to hit a 52-week high after the company reported higher-than-expected quarterly profit and raised its full-year sales forecast.

Home improvement chains tend to benefit as housing strengthens. U.S. home resales unexpectedly increased in October, while separate data showed homebuilder sentiment rose to its highest level in over six years in November.

The PHLX Housing Index <.hgx> rose 1.8 percent.

The Dow Jones industrial average <.dji> gained 207.65 points, or 1.65 percent, at 12,795.96. The Standard & Poor's 500 Index <.spx> was up 27.01 points, or 1.99 percent, at 1,386.89. The Nasdaq Composite Index <.ixic> was up 62.94 points, or 2.21 percent, at 2,916.07.

The S&P edged above its 200-day moving average at around 1,382, which has acted as a resistance level since a drop below the technically significant mark on November 8.

Tyson Foods Inc beat expectations and gave an upbeat forecast, sending its stock up 10.9 percent to $18.72.

Intel shares edged higher, up 0.3 percent to $20.25 after the company said its chief executive will retire in May.

Commodities prices surged, boosting shares of resource companies. Freeport-McMoRan rose 4.1 percent to $38.28, while U.S. Steel rose 5.3 percent to $21.15. The S&P materials sector <.gspm> advanced 2.9 percent as the best performing of the 10 major S&P sectors.

Volume was light and is expected to remain so throughout the Thanksgiving Day holiday-shortened trading week, with about 6.14 billion shares traded on the New York Stock Exchange, NYSE MKT and Nasdaq, below the daily average of 6.49 billion.

Advancing stocks outnumbered declines on the NYSE by 2,678 to 350, while on the Nasdaq, advancers beat decliners 1,949 to 521.

(Reporting by Chuck Mikolajczak; Editing by Dan Grebler)

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Israeli air strike kills 11 civilians in Gaza: Hamas

GAZA/JERUSALEM (Reuters) - An Israeli missile killed at least 11 Palestinian civilians including four children in Gaza on Sunday, medical officials said, apparently an attack on a top militant that brought a three-storey home crashing down.

International pressure for a ceasefire seemed certain to mount in response to the deadliest single incident in five days of Palestinian rocket attacks on Israel and Israeli air strikes on the Gaza Strip.

Egypt has taken the lead in trying to broker a ceasefire and Israeli media said a delegation from Israel had been to Cairo for talks on ending the fighting, although a government spokesman declined to comment on the matter.

Egyptian President Mohamed Mursi met Hamas political leader Khaled Meshaal and Islamic Jihad's head Ramadan Shallah as part of the mediation efforts, but a presidency statement did not say if they were conclusive.

Izzat Risheq, a close aide to Meshaal, wrote in a Facebook message that Hamas would agree to a ceasefire only after Israel "stops its aggression, ends its policy of targeted assassinations and lifts the blockade of Gaza".

Listing Israel's terms for ceasing fire, Moshe Yaalon, a deputy to the prime minister, wrote on Twitter: "If there is quiet in the south and no rockets and missiles are fired at Israel's citizens, nor terrorist attacks engineered from the Gaza Strip, we will not attack."

Gaza health officials said 72 Palestinians , 21 of them children and several women have been killed in Gaza since Israel's offensive began. Hundreds have been wounded.

Israel gave off signs of a possible ground invasion of the Hamas-run enclave as the next stage in its offensive, billed as a bid to stop Palestinian rocket fire into the Jewish state. It also spelt out its conditions for a truce.

U.S. President Barack Obama said that while Israel had a right to defend itself against the salvoes, it would be "preferable" to avoid a military thrust into the Gaza Strip, a narrow, densely populated coastal territory. Such an assault would risk high casualties and an international outcry.

A spokesman for the Hamas-run Interior Ministry said 11 people, all of them civilians, were killed when an Israeli missile flattened the home of the Dalu family. Medics said four women and four children were among the dead.

Israel's chief military spokesman said Yihia Abayah, a senior commander of rocket operations in the Gaza Strip, had been the target.

The spokesman, Yoav Mordechai, told Israel's Channel 2 television he did not know whether Abayah was killed, "but the outcome was that there were civilian casualties". He made no direct mention of the destroyed dwelling.

Prime Minister Benjamin Netanyahu said earlier that he had assured world leaders that Israel was doing its utmost to avoid causing civilian casualties in the military showdown with Hamas.

"The massacre of the Dalu family will not pass without punishment," Hamas's armed wing said in a statement.

VIOLENCE

In other air raids on Sunday, two Gaza City media buildings were hit, witnesses said. Eight journalists were wounded and facilities belonging to Hamas's Al-Aqsa TV as well as Britain's Sky News were damaged.

An employee of the Beirut-based al Quds television station lost his leg in the attack, local medics said.

The Israeli military said the strike targeted a rooftop "transmission antenna used by Hamas to carry out terror activity", and that journalists in the building had effectively been used as human shields by Gaza's rulers.

For their part, Gaza militants launched dozens of rockets into Israel and targeted its commercial capital, Tel Aviv, for a fourth day, once in the morning and another after dark.

Israel's "Iron Dome" missile shield shot down all three rockets, but falling debris from the daytime interception hit a car, which caught fire. Its driver was not hurt.

In scenes recalling Israel's 2008-2009 winter invasion of Gaza, tanks, artillery and infantry massed in field encampments along the sandy, fenced-off border. Military convoys moved on roads in the area newly closed to civilian traffic.

Netanyahu said Israel was ready to widen its offensive.

"We are exacting a heavy price from Hamas and the terrorist organisations and the Israel Defence Forces are prepared for a significant expansion of the operation," he said at a cabinet meeting, giving no further details.

The Israeli military said 544 rockets fired from Gaza have hit Israel since Wednesday, killing three civilians and wounding dozens. Some 302 were intercepted and 99 failed to reach Israel and landed inside the Gaza Strip, it added.

Israel's declared goal is to deplete Gaza arsenals and force the Islamist Hamas to stop rocket fire that has bedevilled Israeli border towns for years and is now displaying greater range, putting Tel Aviv and Jerusalem in the crosshairs.

Israel withdrew settlers from Gaza in 2005 and two years later Hamas took control of the impoverished enclave, which the Israelis have kept under blockade.

OBAMA CAUTIONS AGAINST GROUND CAMPAIGN

At a news conference during a visit to the Thai capital Bangkok, Obama said Israel has "every right to expect that it does not have missiles fired into its territory".

He added: "If this can be accomplished without a ramping up of military activity in Gaza that is preferable. That's not just preferable for the people of Gaza, it's also preferable for Israelis because if Israeli troops are in Gaza they're much more at risk of incurring fatalities or being wounded," he said.

Obama said he had been in regular contact with Egyptian and Turkish leaders - to secure their mediation in bringing about a halt to rocket barrages by Hamas and other Islamist militants.

"We're going to have to see what kind of progress we can make in the next 24, 36, 48 hours," he added.

Diplomatic efforts continued on Sunday when French Foreign Minister Laurent Fabius met Israeli officials and Palestinian President Mahmoud Abbas in the West Bank.

"It is absolutely necessary that we move urgently towards a ceasefire, and that's where France can be useful," Fabius told French television, adding that war must be avoided.

U.N. Secretary-General Ban Ki-moon will be in Egypt on Monday for talks with Mursi, the foreign ministry in Cairo said. U.N. diplomats earlier said Ban was expected in Israel and Egypt this week to push for an end to the fighting.

Israel's operation has so far drawn Western support for what U.S. and European leaders have called its right to self-defence, but there was also a growing number of appeals from them to seek an end to the hostilities.

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Tom Cruise & George Clooney Sign On to Sci-Fi Films & More Casting News

By Julia Haskins

11/18/2012 at 06:30 PM EST

George Clooney and Tom Cruise

Daniel Deme/EPA/Landov; Jackson Lee/Splash News Online

Get ready to squirm!

Tom Cruise, George Clooney and Ashley Greene have all signed on to star in some creepy film projects.  

Cruise takes on aliens in the sci-fi war flick All You Need Is Kill, Zimbio reports. After dying in battle, the alien-fighting soldier Cruise must relive the day again and again until he can escape the cycle. The movie is scheduled for a March 2014 release.

Meanwhile, Clooney is in talks to play the lead in 1952, a sci-fi flick about a man who contacts extra-terrestrial life on Earth, Variety reports. 

After starring in the Twilight saga, Greene is no stranger to the supernatural. She's been tapped for Satanic, a horror movie that follows a group of college students who spend Thanksgiving break in their dorm, only to battle a mysterious gang and try to survive what they thought would be a relaxing week, TheWrap reports.

Also coming soon: 

• A third season is in the works for American Horror Story, Deadline reports. Jessica Lange is one of several actors set to return in different roles for the new installment. Production will begin in summer 2013 and premiere in the fall of 2013.

• It's a family affair for Jack Nicholson and Robert Downey Jr., who will play father and son in The Judge, Ace Showbiz reports. The courtroom drama follows a lawyer who comes home after his mother's death only to discover that his father is a suspect in the murder.

• After endless rumors, Michael Bay has made it official on his website: Mark Wahlberg will star in Transformers 4, The Hollywood Reporter confirms. "Mark is awesome," Bay said. "We had a blast working on Pain and Gain and I'm so fired up to be back working with him. An actor of his caliber is the perfect guy to re-invigorate the franchise and carry on the Transformers' legacy.” Transformers 4 hits theaters June 27, 2014.

• Legos are getting the Hollywood treatment with the help of some big name talent. Liam Neeson, Will Ferrell, Elizabeth Banks and Morgan Freeman have all joined the cast of Lego: Piece of Resistance, THR confirms. Chris Pratt, Alison Brie, Nick Offerman and Will Arnett are also on board for the 3D animated movie. The movie comes to theaters February 7, 2014.

• Two Steve McQueen biopics are in the works, Ace Showbiz reports.
Brothers Chris Hemsworth and Liam Hemsworth are slated to star in the film Triumph AKA 40 Summers Ago, while Jeremy Renner has signed on to a different untitled Steve McQueen flick.

• Chris Hemsworth will also star in the crime thriller Candy Store, Ace Showbiz reports. The film revolves around an operative who must start over after losing everything.

• One Direction may sing "They Don’t Know About Us," but fans will get a behind-the-scenes look at the world of the powerhouse group in their new movie, AceShowbiz reports. "We are going to do our first-ever movie and it's going to be in 3D and it's coming to cinemas near you on the 30th of August, 2013," Niall Horan said on the band's appearance on Today.

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

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Asian shares rise on positive U.S. tone, yen slips

TOKYO (Reuters) - Asian shares rose on Monday, boosted by a positive tone in U.S. equities last week, while the yen fell to a near seven-month low against the dollar on expectations a new government after next month's election in Japan may deliver more stimulus.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.5 percent, recovering from a nine-week low marked on Friday.

Australian shares <.axjo> rose 0.6 percent while South Korean shares <.ks11> opened 0.5 percent higher.

Japan's Nikkei average <.n225>, which bucked the broad Asian downtrend on Friday and surged 2.2 percent to a two-week closing high, opened up 1.3 percent. <.t/>

"The market bullish sentiment will continue today," said Takashi Hiroki, chief strategist at Monex Inc, adding that sentiment had changed as trading volume hit an eight-month high on Friday and any short-term profit-taking would likely to be limited.

Speculation that the leader of the opposition Liberal Democratic Party, which is expected to win the December 16 elections, will call for more stimulus including further aggressive easing by the Bank of Japan also undermined the yen.

The dollar hit a near seven-month high against the yen at 81.55 yen on Monday.

The BOJ begins a two-day policy meeting on Monday, with the bank not expected to take fresh policy steps.

Aside from the Japanese politics, market players will eye ongoing negotiations by U.S. policymakers to avoid a budget crisis and European officials' meeting on Tuesday to discuss aid for debt-stricken Greece.

Hope that U.S. politicians would find common ground to steer clear of the "fiscal cliff" boosted U.S. stocks on Friday. European shares sank to a 3-1/2-month closing low, for their worst week since the end of May, on persistent concerns over U.S. fiscal policy and the euro zone debt crisis.

U.S. Treasury yields fell to their lowest levels in over two months on Friday as skepticism over the U.S. budget talks drew some safe-haven bids.

On Friday, top lawmakers from both major U.S. political parties hinted at the possibility of a budget compromise that involves spending cuts and additional revenue, although they were short on details.

"The good news is the tone of Friday's White House meeting but the prospect of no agreement until at least mid-December fits our view that the two sides are starting negotiations from rather distant points," Sean Callow, senior currency strategist at Westpac bank in Sydney, said in a note.

"As such, there will be plenty of negative headlines in coming weeks that weigh on Treasury yields and boost USD, which is yet again trading like a safe haven even when the bad news is generated by the US."

The dollar eased 0.1 percent but remained near a two-month high of 81.455 hit on Friday against a basket of key currencies <.dxy>.

The euro inched up 0.1 percent to $1.2757, with traders eyeing whether euro zone finance ministers and International Monetary Fund's Managing Director Christine Lagarde would agree on how to make Greece's debt manageable.

"As the EU prepares a bundled aid package to avert a Greek default, headlines coming out of the meeting may fuel a relief rally in the euro, but we will maintain our bearish forecast for the single currency as the region faces a deepening recession," said David Song, currency analyst at DailyFX.

U.S. crude futures rose 0.8 percent to 87.65 a barrel. Oil prices rose on Friday as Israeli attacks on Gaza escalated conflict between Israel and Palestinians and stoked supply concerns.

(Additional reporting by Ian Chua in Sydney and Dominic Lau in Tokyo; Editing by Michael Perry)

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