Cisco to cut 4,000 jobs

Information technology giant Cisco announced Wednesday that it will cut 4,000 jobs, equal to five percent of its workforce.

Cisco executives said the cuts were necessitated by a weaker-than-expected economic recovery, with conditions especially disappointing in emerging markets.

The "economic recovery is slower and more inconsistent," chief executive John Chambers told analysts.

While the US market has been getting better, that improvement is offset by "softening" in emerging markets, Chambers added.

Chambers emphasized the company's need to "move fast" as it rebalances staff to meet growth areas. He said some of the downsized workers will undoubtedly be rehired in other posts.

"I have learned in this industry you lead with your mind, not with your heart," Chambers said.

The cuts announced Wednesday came despite an 18.2 percent rise in earnings, and pushed Cisco shares 9.1 percent lower to $23.97 in after-hours trade.

Wednesday's job cuts mark the third consecutive summer the company has downsized.

In July 2012, Cisco eliminated 1,300 jobs, citing global economic uncertainty. In July 2011, it eliminated 6,500 posts as part of a major company restructuring.

Cisco reported fiscal fourth quarter earnings of $2.3 billion on revenues of $12.4 billion, up from the year-ago level of $1.9 billion on revenues of $11.7 billion.

Per-share earnings exceeded analyst expectations by one cent at 52 cents per share.

Cisco officials signaled that first-quarter revenue growth will be in the 3-5 percent range, with earnings per share expected at 50-51 cents. The updated outlook was in line with analyst expectations, but a bit on the low end.

Cisco has been expanding its profile in some targeted growth areas such as cloud computing and Internet security with a run of recent acquisitions.

Source: http://www.terradaily.com/reports/Cisco_to_cut_4000_jobs_999.html

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Israeli killed by guard at Jewish holy site in Jerusalem

JERUSALEM (Reuters) - A security guard shot and killed a Jewish Israeli man on Friday at one of Judaism's holiest sites in Jerusalem, the Western Wall, which was immediately shut to visitors, police said.

The guard opened fire after the man, in an adjacent restroom, was heard shouting "Allahu Akbar," Arabic for "God is greatest", police spokesman Micky Rosenfeld said.

Rosenfeld said the guard opened fire with his pistol because he suspected the man was a Palestinian militant. The victim turned out to be an Israeli Jew in his 40s.

"The fact he shouted Allahu Akbar, that seems to be why the security guard drew his weapon and fired a number of shots at him," he said.

"We are looking into what (the dead man's)... motives were," Rosenfeld added.

The incident occurred as hundreds gathered for prayer in one of Jerusalem's most sensitive areas. The Western Wall is one of Judaism's holiest sites, where thousands worship each week.

The plaza where the wall is located is next to the Temple Mount, revered by Jews as the place where two biblical temples stood, and the site of Islam's third holiest mosque, al-Aqsa.

(Writing by Allyn Fisher-Ilan; Editing by John Stonestreet)

Source: http://news.yahoo.com/israeli-killed-guard-jewish-holy-jerusalem-051830299.html

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Jon Stewart appears on Egyptian satirical TV show

CAIRO (AP) ? Jon Stewart took the guest's seat Friday on Egypt's top satirical TV show, modeled after his own program "The Daily Show."

Stewart was brought to the set wearing a black hood and introduced by host Bassem Youssef as a captured foreign spy.

Stewart, wearing a scruffy beard, spoke briefly in Arabic as the studio audience gave him a raucous welcome.

"Please sit down, I am a simple man who does not like to be fussed over," he said in Arabic to laughter.

Youssef, host of the show "Al-Bernameg" and one of Egypt's most popular TV presenters, has been questioned by prosecutors on accusations of blasphemy and insulting the president. Stewart defended his counterpart and friend in one of his monologues after Youssef was interrogated earlier this year, and Youssef has appeared as a guest on the popular New York-based show.

Stewart, who is on a summer-long break from anchoring the Comedy Central fake newscast is in the Middle East making his first movie. He expressed admiration for Youssef in Friday's episode, which was recorded earlier this week during a visit to Cairo.

"Satire is a settled law. If your regime is not strong enough to handle a joke, then you have no regime," Stewart said, adding that Youssef "is showing that satire can be relevant."

True to form, Youssef began the weekly show with a series of jokes about Islamist President Mohammed Morsi's appearance and address at a rally last weekend hosted by his hard-line Islamist backers.

The president, Egypt's first freely elected leader, announced at the rally a complete break of diplomatic relations with the government of Syrian President Bashar Assad.

Youssef, however, criticized Morsi for remaining silent and wearing a stone face while one of the rally's organizers denounced as non-believers opposition protesters planning massive, anti-government demonstrations on June 30, the anniversary of the start of the president's term.

Stewart said he was overwhelmed with the generosity of Egyptians but took a jab at Cairo's horrendous traffic. "I flew in three days ago and I have just arrived to do the show," he joked.

Youssef ? known as Egypt's Jon Stewart ? was interrogated in April for allegedly insulting Islam and the country's leader. His questioning drew criticism from Washington and rights advocates. A trained heart surgeon, Youssef catapulted to fame when his video blogs mocking politics received hundreds of thousands of hits shortly after the 2011 uprising that toppled longtime leader Hosni Mubarak.

Unlike other local TV presenters, Youssef uses satire to mock fiery comments made by ultraconservative clerics and politicians, garnering him a legion of fans among the country's revolutionaries and liberals. He has 1.4 million fans on Facebook and nearly 850,000 followers on Twitter.

During his hiatus, Stewart will be directing and producing "Rosewater" from his own script, based on a memoir by Maziar Bahari. This Iranian journalist was falsely accused of being a spy and imprisoned by the Iranian government in 2009 while covering Iran's presidential election.

Source: http://news.yahoo.com/jon-stewart-appears-egyptian-satirical-tv-show-211910354.html

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Daycare may benefit kids of depressed mothers

By Genevra Pittman

NEW YORK (Reuters Health) - Children of depressed mothers are less likely to have emotional problems if they attend daycare, a new Canadian study suggests.

Researchers have known that depressed women are more likely to have kids who also develop depression and anxiety disorders, and that those problems can extend through the teenage years.

"It's interesting to think of this as a possible type of intervention and a way of supporting mothers in general, but especially mothers who are at risk," said Catherine Herba, from the University of Quebec at Montreal.

The researchers followed close to 1,800 children born in Quebec in 1997-1998 and their mothers through the child's fifth birthday.

Women were regularly surveyed about their depression symptoms and reported on their child's emotional problems and separation anxiety, as well as the type of childcare they used.

About 19 percent of mothers had depression symptoms during the study period. And as previous research has suggested, their children were almost twice as likely to develop emotional problems and separation anxiety before age five, Herba's team wrote in JAMA Psychiatry.

However, being in childcare seemed to mitigate that effect. The association was particularly strong for group-based childcare, as opposed to care provided by a relative or babysitter.

Among children with depressed mothers, attending daycare was tied to a 79 percent reduced risk of developing emotional problems, compared to kids who stayed home with their moms.

Across the study, between nine and 31 percent of preschoolers had emotional problems depending on whether their mothers were depressed and where they received care.

How many hours a week kids spent in childcare did not seem as important as the type of care itself, the researchers found. They said the structured setting of group-based care, having care provided by a trained professional and spending time with children of a similar age may all be benefits to that type of childcare.

"Center-based care can really serve as a buffer for children of depressed mothers," said Catherine Ayoub, who has studied Early Head Start programs at Harvard Medical School in Boston.

"As those mothers are paying some attention to their own depressive symptoms, as they're struggling with depression, the children can be buffered from the effects of depression on their development," Ayoub, who wasn't involved in the new study, told Reuters Health.

Her research has suggested programs that reach out to both children and mothers themselves can be especially beneficial for families over the long run.

Ayoub, also from the Brazelton Touchpoints Center, said women should know that they can still be good mothers if they are depressed, and also that there are many ways to treat depression - so they can get better.

"Yes, you may be depressed, but you also can really move toward resilience," she said. "It's okay to find the best possible care for your child that's also a way to take care of yourself."

Herba said that doctors should be looking for new mothers who are depressed and speak to them about the potential benefits of using childcare and getting help for themselves.

"It's quite important that we give good support to these mothers and try to facilitate this as much as possible," she said.

SOURCE: JAMA Psychiatry, online June 19, 2013.

Source: http://news.yahoo.com/daycare-may-benefit-kids-depressed-mothers-201023984.html

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French actor Depardieu banned for drunk driving

PARIS (Reuters) - French actor Gerard Depardieu was banned from driving for six months on Friday, after he was found to be three times over the alcohol limit when he fell from his scooter last year.

The 64-year-old star of films such as Green Card and Cyrano de Bergerac was not in the Paris court to hear its decision to suspend his driving license and fine him 4,000 euros ($5,300). Drink-driving can be punishable by up to two years' jail.

The flamboyant actor, who owns a vineyard in the Loire valley, injured his elbow but nobody else when he fell from the scooter in the capital in mid-afternoon last November.

With top roles in more than 100 movies, one of the country's best-known actors has made the headlines on many occasions for reasons other than his film career.

The scooter fall came a few months after a car driver filed a suit against Depardieu for assault and battery following an altercation in Paris.

The year before, Depardieu outraged passengers by urinating in the aisle of an Air France flight as it prepared to take off.

Depardieu criticized the left-wing government last year over high taxes and took President Vladimir Putin up on an offer of a Russian passport.

He has appeared in ketchup advertisements in Russia, which has a flat tax rate of 13 percent on income, compared with more than 40 percent in France where the government plans a supertax of 75 percent on incomes above 1 million euros.

Depardieu said his decision to take Russian nationality and plan to open a restaurant in the city of Saransk were not motivated by tax concerns. He is considering shooting a film in Chechnya, where he was seen this year embracing strongman leader Ramzan Kadyrov.

Commenting on Friday's court ruling, Depardieu's lawyer, Eric de Caumont, said: "Naturally we are disappointed to the extent that we had sought an acquittal." ($1 = 0.7590 euros)

(Reporting by Marine Pennetier; Writing by Brian Love; Editing by Robin Pomeroy)

Source: http://news.yahoo.com/french-actor-depardieu-banned-drunk-driving-102015597.html

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Administrator opens probe of spill claims lawyer

NEW ORLEANS (AP) ? For months, BP has complained that a Louisiana attorney who is administering its settlement with tens of thousands of Gulf Coast businesses and residents has made decisions that expose the company to what could be billions of dollars in fictitious claims arising from the 2010 oil spill in the Gulf of Mexico.

Now the court-appointed administrator himself is investigating allegations that could provide the London-based oil giant with fodder for its argument that it hasn't gotten a fair shake from the claims-processing team.

Lafayette-based lawyer Patrick Juneau confirmed Friday that he has opened an internal investigation of alleged misconduct by one of his staff attorneys, Lionel H. Sutton III.

Sutton resigned Friday morning, Juneau spokesman Nick Gagliano told The Associated Press.

A report outlining the allegations, a copy of which was obtained by the AP, accuses Sutton of "writing polices" that benefited himself and other plaintiffs' lawyers. It does not elaborate.

Prepared by Juneau's office, the report also says a "confidential source" who contacted Juneau's security chief accused Sutton of trying to influence a claim filed by a New Orleans-based law firm. The same firm allegedly paid Sutton a portion of settlement proceeds for claims he had referred to it before he went to work for Juneau.

Juneau provided the report to U.S. District Judge Carl Barbier during a meeting in his chambers Thursday. The administrator has pledged to thoroughly investigate the claims involving Sutton, who started working for his office in November 2012, according to the report.

Both BP and claimants "rightfully expect fairness and objectivity from this claims process," Juneau wrote.

"Our goal is to operate in an efficient, transparent and fair manner. All allegations are taken seriously and investigated thoroughly."

But in its own statement Friday, BP said only a "comprehensive and independent investigation will ensure the integrity of the claims process."

Sutton acknowledged in an email late Thursday that he had been told he was suspended "pending an investigation of an anonymous allegation against me."

"I have not been made aware of the substance of the allegation or the status of the investigation," Sutton wrote. "Once this is resolved, I would be happy to discuss it all with you."

According to the report, Sutton denied the allegations when Juneau discussed them with him.

"Sutton advised Juneau that he did not retain any interest in the claims or clients and the allegations were 100 percent incorrect," the report says.

But the report also cites passages from a string of email exchanges in which Sutton allegedly asks about his cut of nearly $500,000 in settlement payments to an individual who had filed several seafood-related claims.

In response to a lawyer who emailed him in January 2013 and asked him about his fee, Sutton allegedly responded, "They sent you the check for my fee. The total fee on (the claimant) was 10k (+ or -). They sent you 5 for me and kept the other 5."

Jonathan Andry, a lawyer at the firm that allegedly paid Sutton, didn't immediately respond to messages left at his office and with his answering service.

BP attorney Mark Holstein, in a letter to the judge Friday, said it's possible no further investigation into the matter would have happened had the company not pushed the issue with Juneau by requesting a meeting this week.

"It is undisputed that the CSSP first became aware of the Sutton allegations at the end of May 2013, yet it appears that Mr. Sutton's emails were not locked down, searched and reviewed for almost three weeks..." he wrote, referring to the Court Supervised Settlement Program.

Juneau's office determined that "the Andry Law Group/Andry Lerner L.L.C., had 675 claimants, businesses or individuals that had at least completed a claims form and/or registration form" with the claims database, the report said.

The report indicates that Juneau's security head, David Welker, notified the FBI's New Orleans division about the lawyer's alleged misconduct. Welker until recently was the special agent in charge of the FBI office in New Orleans.

An FBI spokeswoman in New Orleans declined to comment Thursday.

Before the allegations even surfaced, BP PLC had sued to block what could be billions of dollars in settlement payouts to businesses over the spill. The company has accused Juneau of trying to rewrite the terms of the deal and asserts that he has made decisions that expose the company to fictitious losses that were never contemplated in the settlement.

Barbier, who is overseeing the massive settlement, appointed Juneau last year and has upheld his decisions for calculating payments. BP has appealed, and the 5th U.S. Circuit Court of Appeals is scheduled to hear the case in July.

It's unclear how much influence Sutton had over the process of evaluating and paying scores of claims spawned by the deadly Deepwater Horizon disaster, which killed 11 rig workers and led to the nation's offshore oil spill.

The report prepared by Juneau's office Thursday doesn't elaborate on the allegation from the confidential source that Sutton was "writing policies within the (settlement program) that ultimately may benefit his friends who are attorneys and himself."

But the revelation could strengthen BP's position as it forges ahead with a high-stakes challenge to Juneau's interpretation of the settlement terms.

"If I'm Judge Barbier, I've got to worry about this," said Howard Erichson, a Fordham University law professor specializing in complex litigation. "Any claims settlement relies on a reliable claims process. If the integrity of the claims process is challenged, the judge is going to take that very seriously."

The spill began in April 2010 after the BP-leased drilling rig Deepwater Horizon exploded off the Louisiana coast. Roughly 200 million gallons of crude oil were released from the Macondo well a mile under the Gulf surface. Marshes, fisheries and beaches from Louisiana to Florida were fouled by the oil until a cap was placed over the blown-out well in July 2010.

BP set up a compensation fund for individuals and businesses affected by the spill and committed $20 billion. The claims fund initially was handled by lawyer Kenneth Feinberg but Juneau took over the processing of claims after the settlement was reached last year.

Juneau's office announced in May that it has determined more than $3 billion in claims are eligible for payment through the settlement agreement. More than 162,000 claims were filed and more than $2 billion had been paid to claimants as of May 6.

Source: http://news.yahoo.com/administrator-opens-probe-spill-claims-lawyer-173946788.html

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Box Office: Brad Pitt's 'World War Z' Earns Solid $3.6M on Thursday

By Brent Lang

LOS ANGELES (TheWrap.com) - So much for bad buzz, because "World War Z" is not the box-office disaster that some observers had gleefully speculated it would be.

The zombie thriller grossed a solid $3.6 million in late night showings Thursday night, according to studio estimates. The Brad Pitt-led cast of thousands racked up those numbers in 2,600 screens. It expands to more than 3,600 screens on Friday and is projected to generate roughly $50 million over the weekend.

The midnight numbers fall short of those generated by blockbusters like "Man of Steel" and "Iron Man 3," but they compare favorably with "The Great Gatsby," which earned $3.25 million in its late night showings on its way to a $50 million opening.

Despite the hot start, "World War Z" is not expected to be the weekend's top film. That honor will likely go to "Monsters University." The 3D prequel to 2001's "Monsters Inc." is projected to matriculate with around $70 million. If tracking holds, that will give Pixar its 14th consecutive first place opening.

Still it's a remarkable turn around for the $190 million-budgeted "World War Z," which had been plagued with reports of cost-overruns and expensive re-shoots, including an 11th hour decision to cook up a new ending.

The global backdrop of the zombie pandemic film appeared to be paying off as well. "World War Z" grossed a total of $5.7 million internationally on Thursday from territories like Korea, Argentina and Australia.

"World War Z" finds Pitt as a United Nations bureaucrat racing around the world in the hopes of stopping a virus that's turning the population into flesh-eating members of the undead. Reviews have been decent with the film earning a respectable 68 percent "fresh" rating on the critics aggregator Rotten Tomatoes.

Source: http://news.yahoo.com/box-office-brad-pitts-world-war-z-earns-224647346.html

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