New Variety owner Jay Penske slashes one-quarter staff

LOS ANGELES (TheWrap.com) – Jay Penske, the new owner of Variety, laid off nearly a quarter of the company’s staff on Thursday.Between 20 and 25 employees from the struggling Hollywood trade’s circulation, database and conference departments were laid off. The editorial staff was not affected. Variety had about 120 employees before Thursday’s cuts. “Without...

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Retailer Comet to close 30 stores

16 November 2012 Last updated at 19:00 ETThe insolvent electrical chain Comet is preparing to close about 30 stores by the end of November, the BBC has learned. Comet appointed administrators earlier this month, putting 6,611 jobs at risk.The remaining 206 or so outlets are expected to continue trading over the Christmas...

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Israel moves on reservists after rockets target cities

GAZA/JERUSALEM (Reuters) – Israeli ministers were on Friday asked to endorse the call-up of up to 75,000 reservists after Palestinian militants nearly hit Jerusalem with a rocket for the first time in decades and fired at Tel Aviv for a second day.The rocket attacks were a challenge to Israel‘s Gaza offensive and came just hours after Egypt‘s prime minister,...

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TV, movie features on new Wii U delayed until Dec.

NEW YORK (AP) — Some of the entertainment features on Nintendo’s new Wii U won’t be available when the game machine goes on sale Sunday.Nintendo didn’t give a reason for the delay in Friday’s news release. In a statement, the company said it wanted the service “to be the best possible experience for all consumers.” Nintendo said it was still working to...

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French mayor ends hunger strike after crisis aid

PARIS (Reuters) – A French mayor who went on hunger strike a week ago to demand emergency aid for his town ended his protest on Thursday and packed up the tent he had been sleeping in outside parliament after the government met his demands.“I regret that things came to that but it was necessary,” Stephane Gatignon, mayor of Sevran, a poor town on the outskirts...

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BP agrees to record criminal penalties for U.S. oil spill

NEW ORLEANS/WASHINGTON (Reuters) – BP Plc will pay $ 4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which caused the worst U.S. offshore oil spill ever.U.S. Attorney General Eric Holder called the deal a “critical step forward” but was adamant that it did not end the criminal investigation of the 2010...

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France urges Mali to step up talks with rebels

PARIS (AP) — France‘s president called Thursday for stepped-up talks between Mali’s government and any leaders from its breakaway north “who reject terrorism,” even as African nations geared up for a possible military operation against Islamic extremists there.President Francois Hollande‘s comments suggested a growing openness to dialogue with the extremists,...

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Sina’s profit beats on Weibo; co forecasts weak 4th-quarter revenue

(Reuters) – Chinese internet company Sina Corp eked out a profit in the third quarter that beat analysts’ estimates as strong advertising sales on its microblogging platform offset weaker website advertising but it forecast current-quarter revenue below expectations.Shares of the company fell 6 percent to $ 49.72 in extended trading. They closed at $...

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NBC names new “Today” show chiefs

(Reuters) – Comcast‘s NBC has appointed two executives to take charge of the “Today” show, a day after the television network announced that longtime producer Jim Bell would be leaving to take a larger role in the sports division.Don Nash, a broadcast producer who has worked on NBC’s morning show for 23 years, will become the executive producer, reporting...

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Chinese Communist Party to unveil new leadership

BEIJING (Reuters) – China‘s ruling Communist Party unveils a new leadership line-up on Thursday to steer the world’s second-largest economy for the next five years, with Vice President Xi Jinping taking over from outgoing President Hu Jintao as party chief.The new members of the Politburo Standing Committee – the innermost circle of power in China’s authoritarian...

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