Canada economy ekes out 0.1 percent growth in October

OTTAWA (Reuters) - The Canadian economy grew by just 0.1 percent in October from September, indicating a very slow start to the fourth quarter amid foreign and domestic economic woes, Statistics Canada data indicated on Friday.
The figure matched analysts' expectations. The Bank of Canada says fourth quarter growth will be 2.5 percent annualized but the October data confirm market suspicions the real figure will be much less impressive.
Overall, output rose in 12 of 18 sectors. Service industries grew by 0.1 percent on strength in wholesale and retail trade while goods production was unchanged.
Mining and oil and gas extraction advanced by 0.3 percent while support activities for the mining industry grew by 1.3 percent, reflecting higher drilling and rigging services. Canada is the single biggest exporter of energy to the United States.
Manufacturing output fell by 0.4 percent. Canadian firms are struggling to cope with weak markets in the United States and Europe as well as the challenges posed by a strong dollar.
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Ugandan shilling steady, seen weaker after Christmas holiday

KAMPALA (Reuters) - The Ugandan shilling was unchanged against the dollar on Friday but traders said they expected it to weaken once more active trading resumed next year.
At 1238 GMT commercial banks in Kampala quoted the currency of east Africa's third-largest economy at 2,645/2,655, unchanged from Thursday's close.
"The market is pretty flat because (dollar) demand is not there but going into 2013 we anticipate some small depreciation for the shilling," said Shahzad Kamaluddin, trader at Crane Bank.
"Considering the negative factors like a growing current account deficit, aid cuts and the central bank's loose policy stance I reckon the shilling will weaken when business resumes."
The shilling has lost 6.4 percent against the dollar this year but it has been strengthening since late November, lifted by decreased demand for the hard currency ahead of the year-end festivities.
Traders say the central bank's cuts to its key lending rate will keep yields on Ugandan government securities low and possibly erode the interest of offshore investors - whose dollar flows partly support the shilling's exchange rate.
At the last auction on November 29, the yield on the benchmark 91-day Treasury bill was unchanged from the previous auction at 9.8 percent.
Bank of Uganda is due to sell 110 billion shillings' worth of Treasury bills of all maturities on December 27.
The bank cut its key lending rate by 50 basis points to 12 percent this month, extending its policy easing cycle aimed at resuscitating economic growth.
"Because of low demand, market sentiment favours limited shilling appreciation for the remaining trading sessions of this year beyond which it (shilling) will come under pressure," said a trader at a leading commercial bank.
The central bank says Uganda's projected growth rate of about 4.3 percent for the 2012/13 (July-June) fiscal year is below the country's potential growth rate of around 7 percent.
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Instant View: November personal income, durable goods up

NEW YORK (Reuters) - Consumer spending rose in November by the most in three years as incomes climbed, suggesting fourth-quarter economic growth might be stronger than currently expected.
The Commerce Department said on Friday inflation-adjusted consumer spending rose 0.6 percent, and after-tax income climbed 0.8 percent when adjusting for inflation.
A gauge of planned U.S. business spending rose much more than expected in November, a hint that worries over tighter fiscal policy may not be holding back the factory sector as much as feared.
The Commerce Department said on Friday that non-defense capital goods orders excluding aircraft, a closely watched proxy for investment plans, jumped 2.7 percent last month, the second straight month of solid gains.
Economists had expected so-called core capital goods orders to rise just 0.3 percent. The reading for October was upwardly revised to a 3.2 percent gain from a previously reported 2.9 percent increase.
COMMENTS
DAVID ADER, SENIOR GOVERNMENT BOND STRATEGIST, CRT CAPITAL GROUP, STAMFORD, CONNECTICUT:
"These are generally very good figures for the economy and stock market as the gains we see here are real and inflation clearly less of a threat."
TIM GHRISKEY, CHIEF INVESTMENT OFFICER OF SOLARIS GROUP IN BEDFORD HILLS, NEW YORK
"Durable goods orders (was) a strong number for the second month in a row. That flies in the face of the weakness we have seen in the manufacturing sector."
"This definitely shows economic strength above expectations. It's not a roaring recovery by any means, we all know that, but this really shows some momentum here."
TOM DI GALOMA, MANAGING DIRECTOR, NAVIGATE ADVISORS LLC, STAMFORD, CONNECTICUT
"This morning's economic data is better across the board however the overwhelming factor remains the fiscal cliff which keeping Treasuries well bid."
OMER ESINER, CHIEF MARKET ANALYST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON D.C.
"The numbers look good across the board and while durable goods is notoriously a volatile indicator the sharp upside surprises top November figures as well as upward revisions suggest that capital spending was on stronger footing than previously expected.
"Overall these were strong figures, but they will likely not impact trading as all eyes are on Washington D.C. and fiscal cliff discussion."
GARY THAYER, CHIEF MACRO STRATEGIST, WELLS FARGO ADVISORS, ST. LOUIS, MISSOURI
"The data were better than expected. It shows the economy is holding in here at the end of the year despite the concerns about the fiscal cliff.
"The durable goods orders figures show businesses are holding back on new spending, but not cutting spending. It looks like the economy still has some underlying strength that may help us get through the uncertainty of the fiscal cliff.
"The personal spending data was decent. It suggests that consumers, though they are still dealing with relatively high unemployment, are spending cautiously and that continues a trend we've seen much of this past year. We probably need to see better employment numbers to see stronger spending numbers."
WAYNE KAUFMAN, CHIEF MARKET ANALYST AT JOHN THOMAS FINANCIAL IN NEW YORK
"Data looks good. Personal income has been one of the things we were worried about, so this looks really good. Durable goods were also better than expected. These are signs of an improving economy."
FOREX: The dollar trimmed losses versus yen, the euro cut losses versus dollar
GRAPHICS
Consumer spending rose by 0.6 percent in November - the largest jump in three years - suggesting fourth-quarter economic growth might be stronger than expected. http://link.reuters.com/hed44t
U.S. durable goods: New orders for durable goods rose by 0.7 percent in November. Excluding transportation and defense, new orders increased by 1.8 percent. http://link.reuters.com/xyk34t
(Americas Economics and Markets Desk; +1-646 223-6300)
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US durable goods orders up 0.7 percent

WASHINGTON (AP) — U.S. companies boosted their orders in November for long-lasting manufactured goods that reflect investment plans. It was the second straight such increase, an encouraging sign for the economy.
The Commerce Department said Friday that overall orders for durable goods rose a seasonally adjusted 0.7 percent in November over October.
But a more closely watched category of orders that tracks business investment surged 2.7 percent. That followed an upwardly revised 3.2 percent jump in October, the biggest in 10 months.
Those back-to-back increases followed a period of weakness in so-called core capital goods that had raised concerns about business investment, a driving force in the economic rebound.
The overall increases in orders for durable goods were widespread in November. Only demand for commercial aircraft showed a big decline.
The surge in orders in the business investment category defied concerns that businesses might be reducing investment because of uncertainty about how the debate over the "fiscal cliff" will be resolved. The fiscal cliff refers to the set of automatic tax increases and spending cuts that will take effect in January if Congress and the Obama administration don't reach a budget deal first.
In addition, Europe's debt crisis and slower growth overseas have cut into U.S. exports and corporate profits and raised further concern.
Total orders for transportation equipment dropped 1.1 percent. The decline reflected a 13.9 percent fall in commercial aircraft orders, which offset a 3.5 percent gain in orders for motor vehicles and parts.
Excluding transportation, orders for nondurable goods, items expected to last at least three years, rose to $220.9 billion. For the year, they're up 7.3 percent.
Orders rose 3.3 percent for machinery rose, 2.4 percent for primary metals such as steel and 3.1 percent for computers.
A separate survey by the Institute for Supply Management showed that U.S. manufacturing shrank in November to its weakest level since July 2009. The institute's manufacturing index dropped to 49.5, down from 51.7 in October. Readings above 50 signal growth in manufacturing; readings below 50 indicate contraction.
The government said Thursday that the overall economy grew at an annual rate of 3.1 percent in the July-September quarter. The increase occurred even though business spending on equipment and software fell at an annual rate of 2.6 percent, the first such decline since the spring of 2009, when the economy was in recession.
Many economists are concerned that further cutbacks in business investment and cautious consumer spending could help dampen growth in the current quarter to an annual rate of around 1.5 percent.
But most think the economy will gradually pick up in 2013 if Congress and the administration can achieve a budget deal that removes uncertainty over changes in taxes and government spending.
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Boehner says Congress, Obama must keep working on fiscal deal

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner said on Friday that congressional leaders and President Barack Obama must try to move on from House Republicans' failed tax plan and work together to resolve the looming U.S. "fiscal cliff."
Boehner said he was not concerned that Thursday's withdrawn vote threatened his position as speaker, but did not outline a clear path forward.
Boehner said a divided Washington must come together to revamp the massive U.S. tax code in a way that helps spur economic growth. "How we get there, God only knows."
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Daniel Day-Lewis agrees to be honored by Santa Barbara Film Festival

LOS ANGELES (TheWrap.com) - The Santa Barbara International Film Festival has landed one of the top prizes of awards season, announcing on Tuesday that it will host the celebrated but elusive "Lincoln" star Daniel Day-Lewis with a tribute at its festival in the coastal town north of Los Angeles.

Day-Lewis has been dominating critics' awards with his performance as Abraham Lincoln in Steven Spielberg's film, and is considered one of the best actors working today. But he seldom participates in the rituals of awards season, of which a Santa Barbara tribute has long been a late-season staple.

Day-Lewis will receive the festival's Montecito Award, which in the past has gone to the likes of Julianne Moore, Kate Winslet, Javier Bardem, Geoffrey Rush and Annette Bening.

"Daniel Day-Lewis continues to inspire the industry and the public by his approach to tackling the most complex of characters and delivering brilliant performances time after time," said SBIFF's executive director, Roger Durling, in a statement announcing the award.

For his performance in "Lincoln," Day-Lewis may well become the first person to win three Best Actor Academy Awards. He has previously won for "My Left Foot" and "There Will Be Blood," and has been nominated for "In the Name of the Father" and (as Best Supporting Actor) for "Gangs of New York."

The festival begins on January 24 and runs through February 3. The tribute to Day-Lewis will take place at the Arlighton Theatre on Saturday, January 26.
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"Game of Thrones" gets expanded episodes for Season 3

LOS ANGELES (TheWrap.com) - As the drama grows on "Game of Thrones," so do the episodes.

HBO's hit fantasy series will air expanded episodes for its third season, a spokeswoman for HBO told TheWrap on Tuesday, with each of the episodes running slightly longer.

"Thrones" co-creator and co-showrunner Dan Weiss told EW.com that nearly an hour of extra material will be included over the course of the season.

"There's almost another full episode's worth of extra minutes spread across the season," Weiss said. "One of the great liberties with HBO is we're not forced to come in at a specific time. We can't be under 50 minutes or over 60, but that gives us a lot of flexibility."

It's understandable that the series would be expanded for its upcoming run. The third season of "Game of Thrones" is based on the first half of "A Storm of Swords," the third novel from George R. R. Martin's "A Song of Ice and Fire" book series. At 992 pages, it is one of the lengthiest books of the series.
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Tom Hooper, Mychael Danna join crowded slate of Palm Springs honorees

LOS ANGELES (TheWrap.com) - "Les Miserables" director Tom Hooper and "Life of Pi" composer Mychael Danna are the latest awards-season hopefuls to be added to the slate of honorees at the Palm Springs International Film Festival, PSIFF organizers announced on Tuesday.

The two will join a list of honorees that in recent days has expanded to include Helen Mirren, Richard Gere, Bradley Cooper and Sally Field. Other awards will go to Helen Hunt, Naomi Watts, Robert Zemeckis and the cast of "Argo."

Hooper will receive the Sonny Bono Visionary Award, named in honor of the singer/producer/actor and Palm Springs mayor who launched the festival. Past recipients include Danny Boyle, Quentin Tarantino, Baz Luhrmann and last year's winner, "The Artist" director Michel Hazanavicius.

"Tom Hooper brilliantly transforms the classic stage musical 'Les Misérables' into a cinema marvel," said festival chairman Harold Matzner in a press release announcing the awards. "By asking his amazing cast of actors to sing live on film, Hooper allows them to connect even further with their characters, resulting in emotional powerhouse performances that are enthralling audiences worldwide."

Danna, who has won acclaim for his score to Ang Lee's "Life of Pi," will receive the Frederick Loewe Award for Film Composing, a PSIFF honor that in the past has gone to T Bone Burnett, Alexandre Desplat, Danny Elfman, Randy Newman and Diane Warren.

Danna previously wrote music for Lee's films "The Ice Storm" and "Ride With the Devil." "Mychael Danna is a pioneer in creating original compositions that are as dramatic and innovative as the films in which they are featured," said Matzner in the release.

PSIFF's Awards Gala will take place on Saturday, January 5, and the festival will run from January 3 through January 14.
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"Zero Dark Thirty" review: Like a really good "Law & Order" - with waterboarding

LOS ANGELES (TheWrap.com) - It's always a challenge to tell a story where the audience knows the ending. The trick comes in offering a new perspective on familiar events or at least generating suspense in a way that makes us nervous that Apollo 13 might not land safely, even when history tells us otherwise.

"Argo" and "Lincoln" are two films that successfully tread these waters, and now comes "Zero Dark Thirty," Kathryn Bigelow's eagerly awaited follow-up to "The Hurt Locker."

She and screenwriter Mark Boal have consciously chosen to take a just-the-facts-ma'am approach to the manhunt and subsequent killing of Osama bin Laden, and while there's no denying the skill with which they've gone about telling the tale, the results are simultaneously uninvolving and somewhat infuriating.

Uninvolving, to some extent, because the people in this movie are not so much characters as they are plot functionaries, chess pieces that move around strategically to capture their target. Jessica Chastain stars as Maya, a CIA agent who, with each passing year, grows more determined to nab the man behind the 9/11 attacks.

There's nothing wrong with this style of storytelling -- giving us some backstory about Maya's taste in men or love of antique cars or whatever wouldn't necessarily add anything to what Bigelow and Boal are trying to do here - but it's a gamble that doesn't quite pay off.

After spending its first half getting into the false leads and call-tracing and all the nitty-gritty of a manhunt, "Zero Dark Thirty" subjects its capable lead character to the requisite scene in which she snaps and barks at her bureaucrat boss (played by Kyle Chandler) that she's so close, and not to take her off the case.

It's a moment that feels like it might have come from any given episode of "Homeland" or any TNT show about a plucky female cop, and it capsizes a movie that, until that point, had been a fairly fascinating examination of the unglamorous sausage-making that goes into a worldwide search for a terrorist.

The somewhat infuriating facet comes early on, as we watch Maya observe seasoned interrogator Dan (Jason Clarke, giving a fascinating performance) torture terror suspects to find out what they know about September 11. The movie indirectly implies that waterboarding and electrodes to the genitals and all that other stuff that George W. Bush's consiglieri convinced him were kosher actually resulted in actionable intelligence, despite the reams of reportage that suggested otherwise.

I believe Bigelow and Boal's after-the-fact denials that they intended to glorify torture in any way, but when you include material like this in a movie that takes such a coolly detached tone in telling its story, you can't then be surprised later when some viewers interpret a filmmaker's neutral tone as an implicit endorsement.

Still, even if the eventual raid on the bin Laden compound isn't as exciting as the film's first half (this is where some "Argo"-style suspense might have come in handy), there's a lot to recommend about "Zero Dark Thirty," which more often than not reflects Bigelow's consummate abilities as an action filmmaker; her no-frills skills in mounting car chases, surveillance and the other tools of the CIA trade get a full workout.

The acting is also uniformly strong, although if you found the parade of famous faces popping up in "Lincoln" to be distracting, you ain't seen nothing yet. Many recognizable performers turn up very briefly for their chance to be in the new Bigelow movie, to the occasional point of distraction. (I started counting lines from well-known actors; "Torchwood" star John Barrowman? Two.)

And even if "Zero Dark Thirty" packs something less of a punch than "The Hurt Locker," it's still a movie that's going to part of the national discussion, both politically and artistically, and deservedly so. Whether you love it, hate it, or have mixed feelings, it's not to be ignored.
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Kelsey Grammer to host DGA awards again

LOS ANGELES (TheWrap.com) - "Boss" star Kelsey Grammer will host the 65th Annual DGA Awards, DGA president Taylor Hackford and 65th Annual DGA Awards Dinner Chair Michael Stevens said Tuesday.

This will mark the second consecutive year that Grammer has hosted the ceremony.

"We're so pleased to welcome Kelsey Grammer back as host of the DGA Awards for the second year in a row," Hackford said. "Last year, Kelsey kept the show (and the wine) flowing while both celebrating the craft of directing and poking fun in all the right places. The audience had a rousing good time and I know we are all looking forward to seeing what Kelsey comes up with this year."

A DGA member since 1996, Grammer was nominated for a DGA Award for outstanding directing in a comedy series, for the "Merry Christmas, Mrs. Moskowitz" episode of his former show "Frasier." In addition to that episode, Grammer directed dozens of episodes o the series. His directing credits also include "Everybody Hates Chris," "Out of Practice," "My Ex Life" and "Hank."

The 65th Annual DGA Awards will take place February 2, 2013 at the Ray Dolby Ballroom at Hollywood & Highland in Los Angeles.
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