Major jobs boost in UK North Sea

21 December 2012 Last updated at 11:20 ET

Statoil is to invest £4.3bn in a North Sea oil field, bringing hundreds of jobs to the north east of Scotland.

The Norwegian company said the investment in the Mariner field was the largest new offshore development in the UK in more than a decade.

Statoil expects to start production from Mariner in 2017, pending final approval by the UK authorities.

More than 700 jobs will be created, including 200 onshore posts in Aberdeen.

The field is expected to produce for 30 years, with average production of about 55,000 barrels of oil a day from 2017 to 2020.

The Mariner Field is located on the East Shetland Platform of the UK North Sea, about 150km (93 miles) east of the Shetland Isles.

Statoil is the operator of the field, with 65.11% equity. Other partners include JX Nippon Exploration and Production (UK) Limited (28.89%) and Cairn Energy (6%).

The development concept includes a production, drilling and quarters (PDQ) platform based on a steel jacket, with a floating storage unit (FSU).

More than 140 reservoir targets are planned for Mariner.

‘Good fit’

Executive vice president for development and production international in Statoil, Lars Christian Backer, said: “Statoil has extensive heavy oil experiences from offshore fields in Norway and Brazil.

“The Mariner field was discovered in 1981 and Statoil entered the licence as operator in 2007 with the aim of finally unlocking the resources.

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The North Sea is a core area for Statoil, and we look forward to taking a leading role in further developing also the UK part of this basin”

End Quote Lars Christian Backer Statoil

“We are satisfied that we now are able to make an investment decision for a profitable development of the Mariner field.”

He added: “The Mariner project is a good strategic fit for Statoil.

“We are the world’s largest offshore operator and have a portfolio of attractive projects in some of the most prolific basins in the world.

“The North Sea is a core area for Statoil, and we look forward to taking a leading role in further developing also the UK part of this basin.”

Industry body Oil and Gas UK welcomed Statoil’s announcement.

Economics director Mike Tholen said: “The largest offshore development in the UK for a decade, Mariner requires pioneering technology and will bring hundreds of high-skilled, long-lasting jobs across the country, hundreds of millions of pounds in additional tax revenues, as well as crucial security to our energy supplies.

“Expected to produce oil and gas for 30 years, this project – and others recently given the go-ahead on the UK continental shelf – will help to boost production and stem the decline we have seen in recent years, so helping the full economic benefit of our reserves to be realised in time.”

‘Tremendous news’

Energy Minister Fergus Ewing described the investment as “tremendous news for Scotland’s energy industry”.

He said: “There remains more value still to be extracted from the North Sea than there has been to date.

“With up to 24 billion barrels of oil still to be recovered, with a potential value of around £1.5 trillion, North Sea oil and gas is attracting record investment levels with capital investment of £8.5bn in 2011 and an expected £11.5bn in 2012.

“This announcement builds on positive announcements by Global Energy Group and Dana Petroleum this month, who are investing further in Scotland to capitalise on the potential of our energy resources, which will remain an enormous economic resource for decades to come.”

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Canada spending growth sluggish in November, Mastercard says

(Reuters) – Canada‘s holiday shopping season got off to a slow start in November with retail sales rising only 1.3 percent from the previous year, compared with 4.2 percent growth a year earlier, according to data released by MasterCard on Thursday.

Still, the shopping season was still young in November. MasterCard Advisors, the payment company’s research and consulting division, found that in recent years, holiday shopping peaks from December 20 to December 22.

“Many Canadians may have gotten an early start with Black Friday and Cyber Monday this year, but it’s still a very young phenomenon in Canada,” Senior Vice-President Richard McLaughlin, said in a release.

The Friday after U.S. Thanksgiving is the unofficial start to the holiday shopping season south of the border, and in recent years retailers have imported Black Friday sales to Canada.

Some also promote online sales the following Monday.

Canada’s online retail sales continued to grow in November, increasing 26.4 percent.

(Reporting by Allison Martell; Editing by Peter Galloway)

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Facebook releases ‘Poke’ for the iPhone to compete with Snapchat

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Ashton Kutcher files for divorce from Demi Moore

LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.

The actor’s divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.

Kutcher’s filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.

Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.

Kutcher currently stars on CBS’ “Two and a Half Men.”

Messages sent to Kutcher’s and Moore’s publicists were not immediately returned Friday.

Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations’ efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.

Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.

Kutcher has been dating former “That ’70s Show” co-star Mila Kunis.

The divorce filing was first reported Friday by People magazine.

___

Anthony McCartney can be reached at http://twitter.com/mccartneyAP.

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Alexza’s agitation drug gets FDA approval

(Reuters) – Alexza Pharmaceuticals Inc said the U.S. health regulators approved Adasuve, making it the first treatment for schizophrenia and bipolar disorder that can be inhaled.

Adasuve, which delivers an older antipsychotic drug called loxapine, passes through the lungs and into the bloodstream faster than a typical pill. Loxapine is available as an oral drug for schizophrenia.

The company said the product will include a boxed safety warning about potentially dangerous side effects including the potential for fatal bronchial spasms in people with asthma or chronic obstructive pulmonary disorder and a higher risk of death in elderly people with dementia-related psychosis.

Adasuve use will be restricted to mitigate the potential harm of bronchial spasms, Alexza said.

The FDA also required Alexza to conduct a large post- marketing clinical trial of patients to assess the real-world use of the drug.

“We believe that the ability to deliver medications rapidly and non-invasively will be important for patients and the professionals who care for them,” Chief Executive Thomas King said in the statement.

Three injectable drugs, Bristol-Myers Squibb’s Abilify, Eli Lilly’s Zyprexa and Pfizer Inc’s Geodon, are currently approved to calm patients with schizophrenia or bipolar disorder.

Adasuve, Alexza’s most advanced drug, will be available for commercial launch early in the third quarter of 2013, the company said.

Earlier this month, European health regulators recommended approval of Adasuve.

The FDA denied approval to Adasuve in May, after it found deficiencies at the company’s Mountain View, California manufacturing facility during an inspection.

The company’s shares fell 12 percent in the after market trading after the trade was halted at $ 5.79 before the drug- approval announcement.

(Reporting by Prateek Kumar; Editing by Sreejiraj Eluvangal)

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Steve Jobs’ super-yacht impounded

21 December 2012 Last updated at 12:29 ET

Venus, the minimalist high-tech yacht commissioned by the late Apple founder Steve Jobs, has become embroiled in a row over a disputed bill.

French designer Philippe Starck claims Mr Jobs’ heirs still owe him 3m euros of a 9m euro fee for the project, according to Dutch paper Het Financieele Dagblad.

Mr Starck called in the debt collectors and had the yacht impounded,

The Port of Amsterdam confirmed that the boat is not allowed to leave.

Jeroen Ranzijn, spokesman for the Port of Amsterdam told the BBC: “The boat is brand new but there is a 3m euro claim on it. The parties will have to fight it out.”

Roelant Klaassen, a lawyer representing Mr Starck’s company, Ubik, told the Reuters news agency that the boat would remain in port pending payment by lawyers representing Mr Jobs’ estate.

“These guys trusted each other, so there wasn’t a very detailed contract,” he said.

Mr Starck was unavailable for comment.

Gerard Moussault, the lawyer representing the owners of the Venus told the BBC: “I cannot comment at all on this, sorry.”

The sleek, 260ft-long (80m) aluminium super-yacht cost 105m euros ($ 138m; £85m) and was launched in October, at Aalsmeer, The Netherlands.

Mr Starck is known for his striking designs for the Alessi company, including an aluminium lemon squeezer that is shaped like a spaceship.

He collaborated with Steve Jobs for five years on the project, describing the boat as “showing the elegance of intelligence.”

The vessel is minimalist in style and is named after the Roman goddess of love and its windows measure 3m (10 feet) in height.

Mr Starck has said that Venus “looks strange for a boat” but said its shape comes from design ideas he shared with Mr Jobs.

Mr Jobs died of pancreatic cancer in 2011 and never saw his boat go to sea.

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Italy PM Monti resigns, elections likely in February

ROME (Reuters) – Italian Prime Minister Mario Monti tendered his resignation to the president on Friday after 13 months in office, opening the way to a highly uncertain national election in February.

The former European commissioner, appointed to lead an unelected government to save Italy from financial crisis a year ago, has kept his own political plans a closely guarded secret but he has faced growing pressure to seek a second term.

President Giorgio Napolitano is expected to dissolve parliament in the next few days and has already indicated that the most likely date for the election is February 24.

In an unexpected move, Napolitano said he would hold consultations with political leaders from all the main parties on Saturday to discuss the next steps. In the meantime Monti will continue in a caretaker capacity.

European leaders including German Chancellor Angela Merkel and European Commission President Jose Manuel Barroso have called for Monti’s economic reform agenda to continue but Italy’s two main parties have said he should stay out of the race.

Monti, who handed in his resignation during a brief meeting at the presidential palace shortly after parliament approved his government’s 2013 budget, will hold a news conference on Sunday at which he is expected clarify his intentions.

Ordinary Italians are weary of repeated tax hikes and spending cuts and opinion polls offer little evidence that they are ready to give Monti a second term. A survey this week showed 61 percent saying he should not stand.

Whether he runs or not, his legacy will loom over an election which will be fought out over the painful measures he has introduced to try to rein in Italy’s huge public debt and revive its stagnant economy.

His resignation came a couple of months before the end of his term, after his technocrat government lost the support of Silvio Berlusconi‘s centre-right People of Freedom (PDL) party in parliament earlier this month.

Speculation is swirling over Monti’s next moves. These could include outlining policy recommendations, endorsing a centrist alliance committed to his reform agenda or even standing as a candidate in the election himself.

The centre-left Democratic Party (PD) has held a strong lead in the polls for months but a centrist alliance led by Monti could gain enough support in the Senate to force the PD to seek a coalition deal which could help shape the economic agenda.

BERLUSCONI IN WINGS

Senior figures from the alliance, including both the UDC party, which is close to the Roman Catholic Church, and a new group founded by Ferrari sports car chairman Luca di Montezemolo, have been hoping to gain Monti’s backing.

He has not said clearly whether he intends to run, but he has dropped heavy hints he will continue to push a reform agenda that has the backing of both Italy’s business community and its European partners.

The PD has promised to stick to the deficit reduction targets Monti has agreed with the European Union and says it will maintain the broad course he has set while putting more emphasis on reviving growth.

Berlusconi’s return to the political arena has added to the already considerable uncertainty about the centre-right’s intentions and increased the likelihood of a messy and potentially bitter election campaign.

The billionaire media tycoon has fluctuated between attacking the government’s “Germano-centric” austerity policies and promising to stand aside if Monti agrees to lead the centre right, but now appears to have settled on an anti-Monti line.

He has pledged to cut taxes and scrap a hated housing tax which Monti imposed. He has also sounded a stridently anti-German line which has at times echoed the tone of the populist 5-Star Movement headed by maverick comic Beppe Grillo.

The PD and the PDL, both of which supported Monti’s technocrat government in parliament, have made it clear they would not be happy if he ran against them and there have been foretastes of the kind of attacks he can expect.

Former centre-left prime minister Massimo D’Alema said in an interview last week that it would be “morally questionable” for Monti to run against the PD, which backed all of his reforms and which has pledged to maintain his pledges to European partners.

Berlusconi who has mounted an intensive media campaign in the past few days, echoed that criticism this week, saying Monti risked losing the credibility he has won over the past year and becoming a “little political figure”.

(Additional reporting by Gavin Jones, Massimiliano Di Giorgio and Paolo Biondi; Writing by Gavin Jones and James Mackenzie; Editing by Michael Roddy)

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TSX ends flat as RIM buckles, gold miners bounce

TORONTO (Reuters) – Canada‘s main stock index ended little changed on Friday as gold miners gained on safe-haven buying amid U.S. budget uncertainty, while BlackBerry maker Research In Motion Ltd plunged more than 20 percent.

The index’s materials sector, which includes miners, rose 0.4 percent. Even though the price of gold was near its lowest level in four months, the gold-mining sub-sector added 0.9 percent as investors fretted over stalled U.S. budget talks that could throw Canada’s largest trading partner back into recession.

“As our tiptoes are over the (U.S.) fiscal cliff and we’re looking over the abyss, the markets are upset obviously, and this is sort of putting a damper on the stocks,” said John Ing, president of Maison Placements Canada.

“But we’ve had a mixed reaction in Canada, mainly because the resources have been much better, like gold for example, which is hedging into the uncertainty (around the budget talks),” he said, noting gold miners had been under pressure for the last two weeks.

Miner Barrick Gold Corp edged up 0.2 percent to C$ 33.29. Centerra Gold Inc jumped more than 3 percent to C$ 9.10.

Gold miners are playing catch-up after underperforming throughout the year and could rise further in 2013, said Gavin Graham, president at Graham Investment Strategy.

Shares of RIM dropped 22.2 percent to C$ 10.86 on fears that a new fee structure for its high-margin services segment could put pressure on the business that has set the company apart from its competitors.

The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> fell 3.01 points, or 0.02 percent, to end at 12,385.70. It gained 0.7 percent for the week.</.gsptse>

Efforts to avoid the looming U.S. “fiscal cliff” were thrown into disarray on Friday with finger-pointing lawmakers fleeing Washington for Christmas vacations even as the year-end deadline for action edged ever closer.

Graham said that until a deal is reached in the U.S. budget talks, investors will avoid economically sensitive Canadian stocks and those most closely tied to the U.S. economy: auto parts manufacturers, forestry companies and resource stocks generally.

“The resource sectors in Canada, which is half of the index, is going to be adversely affected, correctly or not,” he said.

“Chinese demand is likely to pick up somewhat now with the new leadership there but people will be focused on the U.S. given that it is still by far the most important export market for Canada.”

($ 1=$ 0.99 Canadian)

(Additional reporting by Claire Sibonney, Julie Gordon and Jeffrey Hodgson; Editing by Peter Galloway)

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World Music Awards postponed due to visa issues, Newtown tragedy

LOS ANGELES (Reuters) – The World Music Awards was postponed on Thursday due to “logistical and multiple visa issue,” organizers said, two days before the event was scheduled to be held in Miami.

Event producers John Martinotti and Marcol International said in a statement that the December 22 awards ceremony also was being delayed in the wake of the elementary school shooting in Newtown, Connecticut, last week.

“We are sorry for any inconvenience but this decision had to be made due to logistical and multiple visa issues and in view of this week’s national mourning. Fans have been a great support to the artists and have voted online in huge numbers,” the producers said in a statement.

The winners in categories ranging from world’s best song, world’s best artists and entertainer of the year, are picked by fans who vote online. The statement said that votes will continue to be collected until a new date is set for the show.

This year’s nominees include Usher, Justin Bieber, Nicki Minaj, Rihanna and Chris Brown. Past winners include Whitney Houston, Mariah Carey and Michael Jackson.

The awards ceremony, founded in 1989 and hosted by Monaco’s Prince Albert II, has primarily taken place in Monte Carlo and proceeds from the show go to charity. This year, show producers decided to move it to Marlins Park Stadium in Miami.

(Reporting By Piya Sinha-Roy, editing by Eric Kelsey)

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Early Language Skills Help Kids Manage Anger

The ability to use words as a toddler may affect the way a child manages anger later in life, a new study suggests.

Children with good language skills at age 2 expressed less anger during frustrating situations at age 4 than did those 4-year-olds with less advanced language skills, according to the study’s findings.

Children whose language skills developed quickly also expressed less anger at age 4.

While previous research suggested a link between language skills and the expression of anger in young children, few studies had followed children over time. [See Kids' Tantrums As Disorder Concern Doctors.]

The new study followed 120 children from 18 months old until they were 4. Children periodically underwent tests that assessed their language skills and their ability to cope with frustrating tasks. One task asked children to wait for eight minutes before opening a present while their mother finished work.

Two aspects of language appeared to help children rein in their anger. First, more-developed language skills allowed kids to ask for support from their parents during a frustrating situation  (for instance, asking the mother whether she was finished with her work). Children also used language to occupy or distract themselves from becoming angry. (One child dealt with the waiting task by counting for a full minute.)

“Better language skills may help children verbalize rather than use emotions to convey needs and use their imaginations to occupy themselves while enduring a frustrating wait,” said study researcher Pamela Cole, a professor of psychology at Pennsylvania State University..

The study appears today (Dec. 20) in the journal Child Development.

Pass it on:Toddlers with good language skills are better able to manage anger when they enter preschool.

Follow Rachael Rettner on Twitter @RachaelRettner, or MyHealthNewsDaily @MyHealth_MHND. We’re also on Facebook & Google+.

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