Exclusive: Egyptian investor seeks to put stamp on Telecom Italia

DUBAI (Reuters) - Egyptian entrepreneur Naguib Sawiris aims to shake up debt-laden Telecom Italia and steer it towards expansion in Brazil if shareholders warm up to his proposal for a 3 billion euro ($3.9 billion) cash infusion.

The billionaire tycoon, who got to know Italy well when he owned the third-biggest mobile operator Wind, has put on the table a capital increase that could make him one of the biggest shareholders in Telecom Italia.

Details on the structure of the proposed transaction are scarce, but Sawiris told Reuters that he proposed that the capital increase be open to all shareholders, not just himself, and that it should be conducted around the current market price of 0.70 euros per share.

That is likely to draw the ire of other Telecom Italia shareholders, including Spain's Telefonica and the three Italian financial institutions who together own 22.4 percent via an unlisted holding company called Telco.

They value Telecom Italia at 1.50 euros per share in their accounts, and Marco Fossati, whose family's Findim Group SA owns 5 percent of the Italian operator, on Monday said 1.50 was the "correct price" for any capital increase.

Sawiris, going against a trend of retreating investment in crisis-hit southern Europe, said he might also bring in some of his old Wind associates to put Telecom Italia back on the path to growth.

"This proposal will provide a more stable financial structure for Telecom Italia going forward, more growth in Latin America and Brazil, and improved management through the infusion of people who have an excellent knowledge of the Italian market," Sawiris told Reuters.

Sawiris initially approached Telefonica and the other shareholders in Telco about the possibility of carrying out a capital increase at the holding company level. He was rebuffed, so decided to approach the Italian group directly.

"We are willing to participate in the capital increase, but shareholders have the choice not to get diluted and join in putting the money," he said.

"If they do not want to, we will come and replace them. But they will benefit from a higher stock price and a more stable company and a company that will grow."

It remains to be seen whether his vision for the group will be shared by Telecom Italia's management and core shareholders.

Telefonica, insurer Assicurazioni Generali, and banks Mediobanca and Intesa Sanpaolo had the Sawiris' offer dropped onto them as a bombshell two weeks ago, insiders have said.

"Sawiris is not a man to go in without being sure he can drive the strategy," one source familiar with the thinking of the core shareholders said.

Sawiris told Reuters he was also opposed to a current plan to spin off Telecom Italia's fixed-line network, which is backed by some core investors as a way to raise badly needed cash, and by the Italian government as a means to speed up broadband investment.

"I believe this is a catastrophe," Sawiris said. "If Telecom Italia does that, they will lose the only differentiator they have left in the telecom market in Italy."

Telecom Italia is now in talks with an Italian state-backed investment fund over such a spin-off. Under the plan, the fund would take a minority stake in the new company in exchange for Telecom Italia effectively becoming a wholesaler of broadband capacity to other companies.

Proponents of the spin-off argue the move would help Telecom Italia reduce debt while accelerating the modernization of the woeful Internet infrastructure in Europe's fourth-largest economy.

STRATEGY CROSSROAD

Telecom Italia's board will meet on December 6 to discuss the network spin-off and whether to bid for Vivendi's GVT, a broadband specialist in Brazil, to complement its TIM Brasil mobile business unit in the fast-growing market.

GVT's owner, Vivendi, is seeking up to 7 billion euros for GVT, which provides fixed telephone, broadband, and TV services in 120 Brazilian cities. Preliminary bids are due in December, sources have told Reuters.

Sawiris is waiting in the wings, though he says he has not had any direct contact from Telecom Italia since sending a letter of interest two weeks ago.

However, advisers from both sides - Lazard for Sawiris and Rothschild for Telecom Italia - have been communicating, according to people familiar with the matter.

Meanwhile, sources close to the telecom group's shareholders have complained of a lack of detail in the Sawiris proposal.

Nuno Matias, a telecoms analyst at Espirito Santo bank, said while Sawiris's arguments about seeking growth in Brazil via the GVT takeover were persuasive, the tycoon could face an uphill battle getting the board and shareholders onside.

"Sawiris isn't alone; there are controlling shareholders of Telecom Italia, and they have their own interests," he said.

"If Telecom Italia strengthens in Brazil then it sets up a conflict with Telefonica."

Sawiris pointed out that he tried talking to Telefonica.

"I met with them, but my feeling is that they are conflicted. They are happy where they are today holding Telecom Italia as a hostage and preventing it from growing into Latin America."

Telefonica and Telecom Italia are the number one and number two players in Brazilian mobile, respectively, and also compete in Argentina. The conflict means that Telefonica cannot take part in board deliberations at Telecom Italia over the Latin American units.

Telefonica's Chief Financial Officer Angel Vila said last week that the group wanted to remain a long-term shareholder in Telecom Italia, and opposed a capital increase.

Telecom Italia has made debt-cutting a priority since late 2008. Cost cuts and asset sales have trimmed net debt more than 4 billion euros to 29.5 billion at the end of September.

Morgan Stanley predicted its net debt was likely to stand at 27.8 billion euros at year-end, or 2.7 times earnings before interest, tax, depreciation and amortization (EBITDA), above sector averages and in the warning zone for rating agencies.

Sawiris, who sold Wind to Vimpelcom last year, wants to re-enter Italy by investing in the incumbent operator, betting on low valuations and turnaround potential in old-world telecoms.

"I've worked in Italy for five years and what I've learned that very few investors have the insight on what is the real story in Italy," Sawiris said.

($1 = 0.7713 euros)

(Additional reporting by Leila Abboud in Paris and Lisa Jucca in Milan; Editing by Will Waterman)

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Thunder dominate first half, rout Bobcats 114-69

OKLAHOMA CITY (AP) — Russell Westbrook tipped away a pass, got into the open court all by himself and then braced for a big take-off and a signature throwdown dunk. Instead, he meekly flipped the ball into the basket and grinned sheepishly at the Oklahoma City Thunder bench after the miscue.

"I really thought he was going to do something a little better than what he did, but I'll take up for him and say he slipped a little bit," said Kevin Durant, the three-time NBA scoring champion.

"But he made up for it at the end of the half."

Did he ever.

Westbrook powered home a right-handed slam to put an exclamation point on one of the most dominant first halves in NBA history, putting Oklahoma City up by 40 on its way to a 114-69 blowout of the Charlotte Bobcats on Monday night.

The 64-24 advantage was the fifth-biggest halftime lead in NBA's shot clock era and the largest since Golden State set the record with an 88-41 edge on Sacramento on Nov. 2, 1991, according to STATS.

It ended up as the biggest blowout in Bobcats history.

"We struggled to hit shots, we struggled to get good shots, we got beat on the boards. We got beat in all facets of the game," Charlotte center Brendan Haywood said. "In a game like this tonight, you just basically say they beat us in every which way possible and you bounce back and you learn from the film."

Durant scored 18 points and Westbrook had 12 points and 11 assists. The defending Western Conference champions pulled their starters after Durant's 3-pointer from the right wing made it 79-25 less than 5 minutes into the second half.

"We came out and took care of business, regardless of who the opponent is," Westbrook said. "That's a good team. They came in tonight and had won some big games.

"We just took care of business."

Rookie Jeff Taylor scored 10 points to lead Charlotte, which had shown promise with seven early wins — the same number it had last season while going 7-59 and setting an NBA record for futility.

The franchise's worst blowout previously had been a 112-68 defeat against Portland on Feb. 1.

"There hasn't been any kind of damage control to be done on this game," first-year coach Mike Dunlap said. "We kind of know that OKC is a test for us, we failed it miserably but there are other, better days ahead."

The Bobcats opened with their worst offensive quarter of the season, scoring just 12 points while committing seven turnovers on their 20 possessions, and it only got worse.

Oklahoma City broke it open with a 22-3 run, scoring the final 10 points of the first quarter and then 12 of the first 15 to start the second. Eric Maynor and Kevin Martin hit 3-pointers on consecutive possessions, and Durant followed that by setting up back-to-back two-handed dunks by Hasheem Thabeet and Nick Collison to make it 40-15 with 8:23 left before halftime.

The Thunder shot 60 percent from the field in the first half while limiting Charlotte to 22 percent and forcing 11 turnovers. The Bobcats made only 3 of 20 shots in the second quarter while getting outscored 36-12.

The biggest concern for Dunlap, though, was a 28-15 disadvantage on the boards that he said comes down to "nothing more than raw bone effort."

"We're obviously better than last year. That shows," said ex-Thunder center Byron Mullens. "But tonight, they just got our number. I don't know what else to say. They got us tonight."

Dunlap said the Bobcats are "too young to throw the tape away" and just act like the game never happened.

"You have to take it serious. You have to look at it definitely seriously and you have to take it as a learning experience," Haywood said.

The last five players on the Thunder bench played the entire fourth quarter but Charlotte still couldn't avoid the most lopsided loss in the franchise's history, despite pulling within 38 twice in the fourth quarter.

It didn't come close to the NBA record for margin of victory — from Cleveland's 148-80 rout of Miami on Dec. 17, 1991.

"You can overreact in these situations, but we need to react and respond to it, no doubt," Dunlap said.

It still wasn't a Thunder franchise record for a halftime margin. When the team was based in Seattle, the SuperSonics held a 75-31 lead at Boston on Nov. 23, 1967 — the second-largest margin in the shot clock era, which started in the 1954-55 season.

Westbrook playfully dodged giving an explanation of his open-court flub, simply taking credit for it as "two points."

About a minute and a half later he atoned for it with the last of the Thunder's 13 straight points to finish the first half.

"They was sleeping. Everybody's head turned, so I decided to go and take off," Westbrook said.

Asked whether there was any reason he slammed the ball down so hard, he gave a big grin and said: "It's a tendency. I have a tendency of dunking the ball like that. Just natural, I guess."

Notes: Oklahoma City's highest-scoring first half this season came at New Orleans on Nov. 15, when the Thunder took a 66-37 lead. ... Charlotte's Bismack Biyombo missed his second straight game with a left leg contusion. Dunlap had called him a game-time decision. Gerald Henderson (sprained left foot) and Tyrus Thomas (left calf strain) also sat out.

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Bin Laden movie “Zero Dark Thirty” based on first-hand accounts

LOS ANGELES (Reuters) – The makers of a Hollywood movie about the U.S. operation to kill Osama bin Laden denied asking for classified material for their film, but say they did conduct interviews with a CIA officer and others at the heart of the decade-long hunt for the al Qaeda leader.

“It was all based on first-hand accounts so it really felt very vivid and very vital and very, very immediate and visceral of course which is very exciting as a filmmaker,” Kathryn Bigelow, director of “Zero Dark Thirty,” told ABC News in an interview airing on Monday.

Bigelow and screenwriter Mark Boal said in a “Nightline” interview that they were originally working on a film about the failed bid to find bin Laden in the Tora Bora mountains of Afghanistan during the U.S-led invasion there in 2001.

But their plans changed swiftly after U.S. President Barack Obama announced in May 2011 that a Navy commando unit had killed bin Laden in a compound in Pakistan.

“I picked up the phone and started calling sources and asking them what they knew and taking referrals and knocking on doors and really approached it as comprehensively as I could,” Boal told “Nightline” according to an advance excerpt.

“I certainly did a lot of homework, but I never asked for classified material,” he said. “To my knowledge I never received any.”

The release of “Zero Dark Thirty” – seen as a strong contender for Oscar nominations – was pushed back to December after the film got caught up earlier this year in a U.S. election year controversy.

The U.S. admiral who oversaw the secret operation in May denied a claim that the Obama administration arranged for Bigelow and Boal to be given special access to top officials while researching their movie.

The film reconstructs the hunt for bin Laden largely through the eyes of a young female CIA officer, played by Jessica Chastain, who helps find him through a long-forgotten courier. Obama only makes a fleeting appearance in the film.

“It was a couple of months into the research when I heard about a woman, part of the team, and she has played a big role and she had gone to Jalalabad and been deployed with the SEALs on the night of the raid,” Boal told ABC News reporter Martha Raddatz in the “Nightline” interview.

While some of the dialogue is word for word and based on interviews with the young CIA officer and others, some of the dialogue is dramatized, said the Oscar-winning makers of 2008′s “The Hurt Locker,” about a U.S. Army bomb disposal team during the Iraq War.

The assault on bin Laden’s Pakistan compound was recreated as accurately as possible, using a full-scale version built in Jordan. The floor, the tile, the carpet, the furniture and the marks on the walls were copied from images seen in ABC News footage that Bigelow said they reviewed frame by frame.

The full interview can be seen on “Nightline” on Monday evening.

“Zero Dark Thirty” opens in U.S. movie theaters on December 19. Nominations for the 2013 Academy Awards are announced on January 10 ahead of the February 24 Oscar ceremony.

(Reporting By Jill Serjeant)

Movies News Headlines – Yahoo! News

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Bounce houses a party hit but kids' injuries soar

CHICAGO (AP) — They may be a big hit at kids' birthday parties, but inflatable bounce houses can be dangerous, with the number of injuries soaring in recent years, a nationwide study found.

Kids often crowd into bounce houses, and jumping up and down can send other children flying into the air, too.

The numbers suggest 30 U.S. children a day are treated in emergency rooms for broken bones, sprains, cuts and concussions from bounce house accidents. Most involve children falling inside or out of the inflated playthings, and many children get hurt when they collide with other bouncing kids.

The number of children aged 17 and younger who got emergency-room treatment for bounce house injuries has climbed along with the popularity of bounce houses — from fewer than 1,000 in 1995 to nearly 11,000 in 2010. That's a 15-fold increase, and a doubling just since 2008.

"I was surprised by the number, especially by the rapid increase in the number of injuries," said lead author Dr. Gary Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio.

Amusement parks and fairs have bounce houses, and the playthings can also be rented or purchased for home use.

Smith and colleagues analyzed national surveillance data on ER treatment for nonfatal injuries linked with bounce houses, maintained by the U.S. Consumer Product Safety Commission. Their study was published online Monday in the journal Pediatrics.

Only about 3 percent of children were hospitalized, mostly for broken bones.

More than one-third of the injuries were in children aged 5 and younger. The safety commission recommends against letting children younger than 6 use full-size trampolines, and Smith said barring kids that young from even smaller, home-use bounce houses would make sense.

"There is no evidence that the size or location of an inflatable bouncer affects the injury risk," he said.

Other recommendations, often listed in manufacturers' instruction pamphlets, include not overloading bounce houses with too many kids and not allowing young children to bounce with much older, heavier kids or adults, said Laura Woodburn, a spokeswoman for the National Association of Amusement Ride Safety Officials.

The study didn't include deaths, but some accidents are fatal. Separate data from the product safety commission show four bounce house deaths from 2003 to 2007, all involving children striking their heads on a hard surface.

Several nonfatal accidents occurred last year when bounce houses collapsed or were lifted by high winds.

A group that issues voluntary industry standards says bounce houses should be supervised by trained operators and recommends that bouncers be prohibited from doing flips and purposefully colliding with others, the study authors noted.

Bounce house injuries are similar to those linked with trampolines, and the American Academy of Pediatrics has recommended against using trampolines at home. Policymakers should consider whether bounce houses warrant similar precautions, the authors said.

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Online:

Pediatrics: http://www.pediatrics.org

Trade group: http://www.naarso.com

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AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Berry's ex says he was threatened before fight

LOS ANGELES (AP) — Halle Berry's ex-boyfriend claims the actress's fiance threatened to kill him during a Thanksgiving confrontation that left him with a broken rib, bruised face and under arrest.

Gabriel Aubry's claims are included in court filings that led a judge Monday to grant a restraining order against actor Olivier Martinez, who is engaged to the Oscar-winning actress.

Aubry, 37, was arrested on suspicion of misdemeanor battery after his confrontation with Martinez on Thursday, but he states in the civil court filings that he was not the aggressor and that he was threatened and attacked without provocation. Martinez told police that Aubry had attacked first, the filings state.

A representative for Martinez could not be immediately reached for comment.

Aubry's filing claims Martinez threatened him the day before the fight at an event at his daughter's school that he and the actors attended. Aubry, a model, has a 4-year-old daughter with Berry and the former couple have been engaged in a lengthy custody battle.

The proceedings have been confidential, but Aubry states a major aspect of the case was Berry's wish to move to Paris and take her daughter with her. The request was denied Nov. 9, Berry's court filings state, and Aubry shares joint custody of the young girl.

Aubry claims Martinez told him, "You cost us $3 million," while he was punched and kicked him in the driveway of Berry's home. Aubry had gone to the home to allow his daughter to spend Thanksgiving with her mother, the filings state. Aubry claims Martinez threatened to kill him if Aubry didn't move to Paris.

Berry was not in the driveway during the confrontation and neither was their daughter, the documents state.

Photos of Aubry's face with cuts and a black eye were included in his court filing.

A judge set a hearing for Dec. 17 to consider whether a three-year restraining order should be granted. Aubry has a Dec. 13 court date for the possible battery case, which has not yet been filed by prosecutors.

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

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Holiday sales continue to soar on Cyber Monday

Web shopping soared on Cyber Monday, continuing a strong start to the holiday season.

Online sales were up 26.6 percent from last year by Monday evening, according to IBM Digital Analytics Benchmark, which tracks data from 500 retail sites. ComScore meanwhile, expected online sales to hit a record of about $1.5 billion by day's end.

Cyber Monday has become the biggest online shopping day in recent years as employees head back to the office but continue to cybershop for holiday gifts. The growth of smartphones and tablets has only increased that ability, an opportunity Web retailers have been eager to exploit.

This year, retailers aggressively pushed "Pre-Black Friday" promotions and flooded consumers with emails touting good deals in the days before Thanksgiving. As a result, the big shopping days of Thanksgiving, Black Friday and Cyber Monday have blurred into a sale-laden week.

Some retail analysts had worried that strong online sales growth on Thanksgiving Day and Black Friday would entice shoppers to buy earlier, threatening revenue later in the season.

"So far, that is not the case," said Jay Henderson, the strategy director for IBM Smarter Commerce. "Extending the shopping season has really just fueled additional online spending rather than cannibalizing days later in the season."

Sales across Amazon.com, the largest online retailer, had risen 52 percent from the previous year by midmorning Monday, according to ChannelAdvisor, which offers services to third-party sellers on e-commerce sites. Meanwhile, eBay sales volume increased 57 percent, the firm said.

The average online order size on Cyber Monday was $130.30. That was down from almost $200 during the whole of Cyber Monday last year, according to IBM.

But Monday's discounts on the websites of bricks -and-mortar retailers weren't necessarily as broad or as deep as consumers could find if they shopped in the days before, according to Michael Brim, founder of deal site BFAds.net. "We're not seeing across the board the lowest prices like we do on Black Friday or Thanksgiving," he said. "It's better than the average weekly sales, but it's not on the level of Black Friday … yet," he said.

Most retailers — about 97 percent — were expected to offer Cyber Monday deals this year, up from 90 percent last year, according to the National Retail Federation. That means good deals were there for the finding on sites that might not normally have sales, Brim said.

Laptops and apparel at specialty sites were popular items Monday, Brim said.

Amazon offered $30 off its 7-inch Kindle Fire tablet, which usually sells for $159. The deal was available only on Cyber Monday.

Hoffman Estates-based retailer Sears said it found that a number of its shoppers opted to buy online and pick up merchandise in the store, according to spokesman Tom Aiello, who declined to say whether online traffic increased Monday. Shoppers want "to save on shipping, or they want to touch it — and get it the same day and make sure they've got that gift in their hands," he said.

Tribune news services contributed.

crshropshire@tribune.com

Twitter @corilyns

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Pfleger points police to suspect in fatal stabbing

During an argument with his wife Wednesday, Demetrius Jackson allegedly stabbed to death a 55-year-old man who intervened, then called St. Sabina Catholic Church to pray with the Rev. Michael Pfleger.

Shortly after a Cook County judge ordered Jackson, 32, held without bond on Sunday on a charge of first-degree murder, Pfleger, reached by phone, recounted the conversation he had with Jackson on Friday, a day before he turned himself in.

"He told me the guy who he allegedly stabbed is his best friend," Pfleger said. "He said (the victim) punched him in the face. He told me he just reacted. He asked me to pray with him, and I prayed with him."

Jackson, who lives in Chicago's Roseland neighborhood, hung his head in Cook County Bond Court as a judge said he faced a murder charge in the death of William Terry of the 10300 block of South Forest Avenue.

Jackson and his wife were arguing in their home, also in the 10300 block of South Forest, Wednesday night when he allegedly grabbed a knife and threatened to kill her, prosecutors said. The wife fled to Terry's home and called 911, prosecutors said.

Before police arrived, Jackson's wife and Terry decided to walk back to Jackson's home. Still holding a knife, Jackson confronted the two outside and continued to berate his wife, authorities said. Terry stepped between them, "trying to calm" the defendant, Assistant State's Attorney Brad Dickey said. Terry fell to the ground, and Jackson leapt on top of him, stabbing him multiple times in front of several witnesses, authorities said.

"Terry was able to stagger to his home," Dickey said. Gasping for breath, he collapsed on his front porch. He was taken to Advocate Christ Medical Center in Oak Lawn shortly after 8 p.m. and pronounced dead, according to police. Other county officials said Terry lived in Riverdale.

Jackson, who appears to have no criminal record, worked with St. Sabina on the Safe Passage project, public defender Stephen Herczeg said. A Chicago Public Schools program, Safe Passage employs community members to help improve safety by standing guard along the routes children travel to schools.

When the two spoke, Pfleger encouraged Jackson to turn himself in to police.

"I told him, 'I'm not a court or a lawyer or a judge,'" Pfleger said. "I told him I wouldn't judge him. I just encouraged him to turn himself in and not run. A lot of times, people are afraid to go to the police directly. I said I would try to set it up."

When Jackson agreed, Pfleger said he called police at the Gresham District, telling them of Jackson's intentions.

As promised, Jackson showed up at a police station Friday morning and gave a video-taped confession, according to court documents.

"Thank God it worked," said Pfleger. "It's very sad. I feel bad about the man who got killed, too. It's a loss of two lives."

efmeyer@tribune.com

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Renesas shareholders set to approve $2.4 billion bailout, shares soar

TOKYO (Reuters) - Shareholders of Japan's embattled Renesas Electronics Corp are close to approving a government-led bailout, sources familiar with the talks said, sending the firm's shares 17 percent higher on relief that the $2.4 billion rescue was being finalized.

The deal is set to keep the world's biggest maker of microcontroller chips afloat for the next few years, but analysts say that despite job cuts and planned plant closures, Renesas still faces many challenges including the restructuring of its loss-making system chip division.

The state-backed Innovation Network Corp will spend 180 billion yen ($2.2 billion) to take a two-thirds stake in Renesas, which has been hit by fierce overseas competition, production cuts by clients and fragile finances that have prevented it from upgrading infrastructure.

As part of the bailout, eight manufacturers including key clients such as Toyota Motor Corp and Nissan Motor Co Ltd will provide another combined 20 billion yen.

Shareholder approval of the deal, while expected, had been delayed for several weeks and an announcement is now likely in early December, said the sources, who declined to be identified as the matter is not public.

A Renesas spokesman said nothing had been decided.

Investors jumped to cover short positions in the stock, said Makoto Kikuchi, chief executive officer of Myojo Asset Management, noting that unlike some other troubled Japanese electronics firm such as Sharp Corp, the company's expertise in chips for cars meant it was worth investing in.

The bailout was put together to counter an earlier bid by U.S. private equity firm KKR & Co LP amid worries that the firm's technology would fall into foreign hands.

"As soon as stock investors see signs that the company is working hard to return to profit, they will be prepared to invest long-term," Kikuchi said.

Shares in Renesas closed 16.6 percent higher at a two-month high but are still down 42 percent since the beginning of April, the start of Japan's fiscal year.

Recent history has been brutal for Japan's chipmakers and Renesas, formed from the struggling chip divisions of its major shareholding companies Hitachi Ltd, Mitsubishi Electric Corp and NEC Corp, will be keen not to repeat the mistakes of now-bankrupt fellow chipmaker Elpida Memory Inc.

Elpida, formed from the merger of several big companies' DRAM chip making operations, succumbed to slumping prices and relentless competition from South Korean rivals and is being acquired by Micron Technology Inc of the United States.

Japan's tech sector has also seen the creation of Japan Display Inc, a firm formed from the divisions of three TV makers which make small liquid crystal displays and which the Innovation Network Corp has also invested in.

The bailout comes on top of 161 billion yen in syndicated loans from four Japanese banks in September, and before that a separate 97 billion yen Renesas previously received from the banks and its major shareholders.

In return, the company has slashed more than 7,000 jobs this year and pledged to sell or close eight out of its 18 domestic plants within three years.

Renesas, which competes with Samsung Electronics Co Ltd and U.S.-based Freescale Semiconductor Inc, has predicted a net loss of 150 billion yen for the year to March.

The Nikkei newspaper also said on Monday that Renesas will receive an additional 1 billion yen each in support from Hitachi and NEC. Sources said the two firms will not take in Renesas employees, while Mitsubishi Electric is considering taking in some workers from the chipmaker. ($1 = 82.3700 Japanese yen)

(Additional reporting by Ayai Tomisawa; Editing by Edwina Gibbs)

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Giants end slide, rout Packers 38-10

EAST RUTHERFORD, N.J. (AP) — Adam Merchant had a wish and a command for the New York Giants.

The 15-year-old fan from Barre, Vt., attended practice and then Sunday's game with the Packers thanks to the Make-A-Wish Foundation. He wanted the Giants to snap their two-game slide and get out of their offensive funk.

So he ordered the Giants to "play like world champions," and they delivered a 38-10 rout of the Green Bay Packers.

"That was the theme of our meetings," coach Tom Coughlin said.

Eli Manning came back from the bye week with a rested arm, and that offensive slump was tossed aside. The Giants (7-4) said they turned things around for themselves, and for Merchant, who has cancer.

"They have one wish," Manning said after throwing for three scores to set a team record with 200 TD passes for his career. "It is sad when you think about it — they have one wish, what you want to do, and he wanted to come to Giants practice ... and to a game.

"He said, 'Go show everybody you are the world champions and why you are the world champions and play that way.' Everybody got fired up and played the way we know we can."

The Packers (7-4) certainly did not. The showcase game was decided early as the Giants outscored the Packers 31-10 in the opening half to end Green Bay's five-game winning streak. While New York took a two-game lead in the NFC East, Green Bay fell out of a tie with Chicago atop the NFC North.

The Packers were missing such key starters as linebacker Clay Matthews, defensive back Charles Woodson and receiver Greg Jennings, and it showed. After being manhandled in last season's playoffs by the Giants, who went on to win the Super Bowl, the Packers weren't much more competitive this time. Aaron Rodgers was sacked five times, including twice by Mathias Kiwanuka, who spent much of the game at defensive tackle rather than in his usual linebacker spot.

"When your quarterback is under pressure like that, it affected me tonight," coach Mike McCarthy said of his play-calling. "I probably didn't call the best game I've called. You have to protect your quarterback. It's your No. 1 responsibility. That's not what we're looking for."

New York's balanced attack was guided by Manning, who had his first strong game in a month with 249 yards passing.

"I never thought my arm was tired, never felt like it," Manning said. "After a week off, you come back to practice, it felt good, alive, balls coming out with a little pop on it.

"After 10 weeks, it definitely needed a little rest."

Coughlin knew Manning would return with some extra verve.

"There was no doubt he was going to come back and play well," Coughlin said. "I think the rest really helped him. ... Eli said he felt as if he was coming back for the start of the season. I was very confident he would come back and be Eli."

Ahmad Bradshaw gained a combined 119 yards and scored a touchdown. He had the first big play of the night to begin the offensive onslaught.

New York struck early with a brilliantly conceived screen pass to Bradshaw off a fake reverse to Victor Cruz. Bradshaw sped down the field before being caught at the Green Bay 2, a 59-yard pickup that led to Andre Brown's scoring run.

Brown later broke his leg; Coughlin did not say which leg after the game.

"It will be a tough loss, he is an important player," Manning said.

Green Bay didn't flinch, with Jordy Nelson getting behind Corey Webster in single coverage down the right sideline for a 61-yard TD reception from Rodgers.

The scoring flurry went back in the Giants' favor — and pretty much stayed there — when Manning hit Rueben Randle in the back of the end zone for a 16-yard TD. It was the first score for the rookie and Manning's first touchdown throw in four games, and he set it up with, of all things, a scramble in which he laid his shoulder into Packers cornerback Tramon Williams for a 13-yard gain.

"It sparked our sideline," Coughlin said. "It would not be the recommended way. To see him do that kind of sent the message to the rest of our team: Whatever you have to do to succeed, do it."

Webster's interception led to Lawrence Tynes' 43-yard field goal late in the first quarter for a 17-7 lead, and the Giants weren't nearly done. Manning's 9-yard connection with Cruz tied him for the club record with 199 TD passes, and after Osi Umenyiora's strip-sack of Rodgers was recovered by Jason Pierre-Paul at the Green Bay 23, Bradshaw scored from the 13.

The 31 points were the most New York scored in a half all season and nearly equaled the 33 it scored in its two losses before the bye.

And the Giants had more offense in them. Manning threw his 200th TD pass to move ahead of Phil Simms, a 13-yarder over the middle to Hakeem Nicks, who stretched the ball over the goal line as he was tackled.

"There was a different enthusiasm in practices," Manning said, "and I think that paid off in the game."

It paid off for the Giants, and for their young fan.

"It kind of hit home," Justin Tuck said. "You got this kid that don't know us from James and watches us on TV every Sunday and it's so profound."

NOTES; The Giants lost safety Kenny Phillips with a knee injury in the third quarter. He was making his first appearance since Week 4, when he was sidelined with a knee problem. ... Giants right tackle David Diehl sustained a stinger in the first half. ... Green Bay lost safety M.D. Jennings (rib), DE C.J. Wilson (knee), and RB Johnny White (concussion). ... Rodgers was 14 of 25 for 219 yards, one TD, one interception and one lost fumble.

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Tourists visit Southfork to remember Larry Hagman

PARKER, Texas (AP) — Tourists and locals flocked to Southfork Ranch on Saturday, bringing flowers in memory of Larry Hagman, who played the infamous J.R. Ewing on the TV show “Dallas.”

Hagman died in Dallas on Friday at age 81 due to complications from his battle with cancer.

Southfork, a ranch north of Dallas, was known to millions of viewers as the Ewing family home. Exterior shots of the house and pool were shown when the series aired from 1978 to 1991, although the show wasn’t filmed there.

The ranch has been open for tours since the mid-1980s, and now sees more than 100,000 visitors each year. Each room of the house has a theme for each character.

On Saturday, J.R. Ewing’s room had flowers and a card for tourists to sign.

“Today is about Larry Hagman and his family,” said Janna Timm, a Southfork Ranch & Hotel spokeswoman. “He was such a wonderful person, and we will really miss him.”

“Dallas” was recently revived on TNT this summer, and all of the scenes were filmed at Southfork or other places in the Dallas area. Hagman had revised his role as the scheming oilman who would even double-cross his own son.

Linda Sproule of Peterborough, Ontario, had been traveling through the U.S. the past couple of weeks and heard about Hagman’s death Friday while in Dallas. She said she didn’t know where Southfork was but wanted to come because she was a fan of the show in the 1980s.

“I remember on Friday nights we watched it, and J.R. was bigger than life in some ways,” she said after taking the Southfork tour Saturday morning. “This ranch is beautiful. Being here is kind of emotional in a way.”

Barbara Quinones and her husband were in town for their daughter’s soccer tournament and had already planned to visit Southfork when they heard news of Hagman’s death.

“We loved him because he was so ruthless,” said Quinones, of Albuquerque, N.M. “This is a sad day, but I’m glad we’re here.”

Some of the show’s stars, including Hagman, came to Southfork for the series’ 25th anniversary. The Fort Worth-born actor also had visited several times before the show was revived.

“He was definitely a gentleman, a class act,” said Jim Gomes, vice president of resorts at Southfork Ranch & Hotel. “He loved the fans as much as they loved him.”

Entertainment News Headlines – Yahoo! News

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