Bank of Canada’s Carney says rate hikes will be gradual
















OTTAWA (Reuters) – The Bank of Canada will take care not to raise interest rates too rapidly when the time comes because of risks to the economy from challenges in the United States and Europe, Governor Mark Carney said in an interview released on Thursday.


Carney said on Wednesday that the need to hike rates in Canada was “less imminent,” but stuck to his message that the next move would be up, not down, in contrast to the U.S. Federal Reserve and other major central banks.












The Canadian economy has fully recovered from the 2008-09 recession and is expected to grow at a little more than 2 percent through to 2014, justifying an eventual rate hike, but global headwinds remain a threat to the trade-dependent country.


“There’s no question that what we will do, taking all these factors together, is manage policy so that interest rates rise at an appropriate pace,” Carney told Sun News Network in an interview to be broadcast Thursday at 6 p.m. (2200 GMT).


He said the bank would also try to avoid creating a shock for the 10 percent of Canadian households who are vulnerable to a sudden change in borrowing costs because of their excessive debt load.


“It’s not in our interest to do anything too abruptly either on the upside or the downside,” he said. “We’re well aware of the risks on that side of things.”


The bank is expected to hold its benchmark overnight rate at 1.0 percent until the fourth quarter of 2013, according to the median forecast in a Reuters poll of Canada‘s primary securities dealers conducted on Wednesday.


(Reporting by Louise Egan; Editing by Lisa Shumaker)


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Iran rejects UN criticism of its cyber security rules
















UNITED NATIONS (Reuters) – Iran rejected criticism from a U.N. human rights investigator over its tighter cyber security rules, saying they are necessary to protect it against cyber attacks and have nothing whatsoever to do with freedom of expression.


In his latest report, U.N. special rapporteur on the human rights situation in Iran, Ahmed Shaheed, said he was concerned about reports of government activities “that seemingly infringe on freedom of expression and the right to information.”












He said authorities have reportedly targeted websites they see as promoting terrorism, espionage, and economic or social crimes.


These include sites that contain “pornographic content, insult Islam or Government officials, proselytize unrecognized religions, or establish anti-government political groups,” Shaheed said.


In a response to his report, presented to U.N. General Assembly delegations this week and sent to Reuters on Thursday by Iran’s U.N. mission, Tehran said its cyber policies were unrelated to human rights.


“Establishment of (a) cyber council for securing domestic Internet relates to security and sovereignty of states rather than an issue dealing with promotion and protection of human rights,” the Iranian statement said.


“As a country frequently targeted by highly sophisticated vicious cyber attacks, often orchestrated by certain States, Iran has every right and reason to strengthen its cyber space security,” the Iranian response said.


“Contrary to the report (and its) assessments based on overly misleading information, this has nothing to do with the freedom of expression at all.”


STUXNET FALLOUT


The Islamic republic tightened cyber security after its nuclear program was attacked in 2010 by the Stuxnet computer worm, which caused centrifuges to fail at its main uranium enrichment facility.


Tehran, whose nuclear program is suspected by Western powers and their allies of developing the capacity to produce weapons, accused the United States and Israel of deploying the worm.


Authorities said in April a computer virus was detected inside the control systems of Kharg Island – which handles the vast majority of Iran’s crude oil exports – but the terminal remained operational.


Communications and Technology Minister Reza Taqipour said last month that Iran needed to develop its own network to ensure the safety of the country’s information.


Iran says its nuclear program is entirely peaceful and has refused to halt it despite increasingly draconian U.N. and Western sanctions.


Shaheed is in New York to present his annual report on rights in Iran to the U.N. General Assembly’s Third Committee, which focuses on human rights.


His report details how rights activists in Iran face beatings with batons, mock hangings, rape and threats that family members will be raped or killed.


Earlier this week Shaheed, a former Maldives foreign minister, reported that minority religions in Iran continue to face persecution.


Tehran has so far not granted Shaheed access to the country. In its response, the Islamic republic said his overall report was biased, selective and “fails to reflect the actual situation of human rights in Iran.”


(Editing by Xavier Briand)


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Networks, AP changing exit poll strategy
















NEW YORK (AP) — A growth in early voting and tough economy for the media are forcing changes to the exit poll system that television networks and The Associated Press depend upon to deliver the story on Election Night, all with the pressure-filled backdrop of a tight presidential race.


The consortium formed by ABC, CBS, CNN, Fox News Channel, NBC and the AP is cutting back this year on in-person exit polls while upping the amount of telephone polling. This is to take into account more people voting before Nov. 6 and households that have abandoned land lines in favor of cell phones.












“It makes it trickier,” said Joe Lenski, executive vice president of Edison Research, the company that oversees the election operation for the news organizations. “It means there are a lot of different pieces to keep track of.”


On a perfect Election Night, Americans who are tracking results won’t notice all the work being done behind the scenes. The Associated Press reports actual vote counts nationwide and news organizations use those numbers, plus the exit polls, results from precinct samples in some states and telephone polls of absentee voters to do their own race calls.


But things haven’t always gone perfectly. The news organizations completely rebuilt their exit poll system after the 2000 embarrassment, when TV networks mistakenly called the race for George W. Bush when it wasn’t decided until a month later (the AP mistakenly called Florida for Bush, retracted it but, unlike the networks, never called the overall race for Bush). In 2004, early exit poll results overestimated the strength of Democrat John Kerry.


To save money this year, the consortium is doing bare bones exit polling in 19 states. Enough voters will be questioned in those states to help predict the outcome of races, but not enough to draw narrative conclusions about the vote — what issues mattered most to women voting for Mitt Romney, for instance, or how many Catholics voted for Barack Obama.


The affected states are: Alaska, Arkansas, Delaware, Georgia, Hawaii, Idaho, Kentucky, Louisiana, Nebraska, North Dakota, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia and Wyoming, along with the District of Columbia.


Each is considered a non-battleground state with polls showing a strong advantage for one of the presidential candidates. Some non-battleground states will get the full exit poll for other reasons, like Massachusetts and its hotly contested U.S. Senate race between Scott Brown and Elizabeth Warren.


“What we are doing is taking our resources and using them where the stories are,” said Sheldon Gawiser, NBC’s elections director and head of the steering committee for the AP-network consortium.


Spending figures were not made available. News organizations have had a tough few years financially, but the consortium noted that it is interviewing a total of 25,000 voters this year, up from 18,000 in 2008.


Because of early voting, there are no traditional exit polls in Oregon, Washington and Colorado. A phone poll is done prior to Election Day in those states, taking in a mixture of people who have and haven’t voted. Others states have a mixture of telephone polling and exit interviews. California, North Carolina and Arizona are among the states where the percentage of telephone polls has grown because of more people voting early.


More people are interviewed on cell phones because it is the primary way to contact them. The consortium said cell phone interviews are twice as expensive as those on land lines because of manpower costs, in large part because it is harder to reach people and federal law requires the phone numbers to be manually dialed instead of done by computers.


In addition to the exit poll changes, the news organizations are taking steps to improve their ability to include actual vote counts in their decisions on when to call particular states as a winner for either candidate. This usually involves collecting sample precincts that reflect a state’s demographics.


Even this is complicated by local customs. Some states report precinct results more quickly than others. New Mexico, for example, sets up polling places where anybody from a particular county can cast a ballot; while this makes voting easier, it makes projections based on precinct samples more difficult.


Television viewers may notice that networks are being slower than in the past to project winners in certain states, but the consortium believes people won’t see a difference.


If the actual election is as close as the pre-election polls are suggesting, it will be a long night, anyway.


With all the factors increasing the difficulties and costs associated with exit polling, it’s worth wondering whether a time will come that the news organizations abandon them in favor of the pre-election polling. The experts say that time is nowhere near.


“One of the great advantage of exit polls is you don’t have to worry about who voted. You don’t have all of these ‘likely voter’ issues that you have now,” said Lee Miringoff, a pollster at Marist College.


Gawiser noted how the minds of voters can change, even up until the last possible minute.


“It’s a story we want to be able to tell on Election Night and we want to be able to tell it accurately and rapidly,” he said. “I really don’t think it’s much different than any other story we tell.”


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Senate: Medtronic shaped articles promoting InFuse
















WASHINGTON (AP) — Medical device maker Medtronic Inc. helped write and edit medical journal articles attributed to outside physicians, which downplayed the risks of the company’s best-selling bone graft, according to a report by Senate investigators.


The Senate Finance Committee said Thursday that the world’s largest device maker did not disclose its role in shaping 13 key studies of InFuse, which helped turn the bone graft into an $ 800-million a year product. The studies, funded by Medtronic, failed to mention serious risks of InFuse including male sterility, infection and increased back and leg pain.












Senate investigators also reported that Medtronic paid the study authors $ 210 million in consulting fees for unrelated work over 15 years.


“Medtronic’s actions violate the trust patients have in their medical care,” said Sen. Max Baucus, D-Mont, in a statement. “Medical journal articles should convey an accurate picture of the risks and benefits of drugs and medical devices, but patients are at serious risk when companies distort the facts the way Medtronic has.”


The Minneapolis company said it disagrees with many of the findings in the report.


“Medtronic vigorously disagrees with any suggestion that the company improperly influenced or authored any of the peer-reviewed published manuscripts discussed in the report, or that Medtronic intended to under-report adverse events,” the company said in a statement.


InFuse has been used in a half-million patients and had sales of about $ 800 million in fiscal 2011, according to Medtronic reports.


The committee’s report is the latest in a series of federal inquiries into Medtronic’s promotion of InFuse, which is widely used for procedures not deemed safe or effective by federal health authorities. Earlier this year the Department of Justice closed a four-year investigation into InFuse, after first subpoenaing the company in October 2008.


The Food and Drug Administration approved InFuse in 2002 for use in spinal, oral and dental graft procedures, but most of the time it has been used in neck surgeries and other procedures. Physicians are allowed to use drugs and medical products off-label as they see fit, but companies cannot market their products for off-label uses. Use of InFuse in neck surgeries can lead to problems swallowing, breathing and speaking. Some patients had to have other surgeries because of those problems.


Senate investigators said Medtronic staff inserted language into studies of InFuse suggesting the product was less painful than alternatives. In one 2005 incident, a Medtronic staffer helping draft a medical journal article recommended against publishing “significant detail” about adverse events reported with InFuse.


The Senate‘s findings echo earlier reports published in The Spine Journal last year, alleging researchers involved in key studies of InFuse did not disclose serious side effects. The Spine Journal is the official publication of the North American Spine Society


The group said in a statement it is “hopeful that future research sponsored by Medtronic and others will adhere to much higher standards.”


The Senate Finance Committee launched its investigation in June 2011, following the publication of The Spine Journal’s report. Senate investigators say Medtronic cooperated with the investigation, turning over 5,000 documents.


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