Canada’s Carney says rate hikes “less imminent”
















TORONTO (Reuters) – Interest rate hikes have become less imminent than the Bank of Canada once expected, although rates are still likely to rise, central bank Governor Mark Carney said in an interview published on Saturday.


“Over time, rates are likely to increase somewhat, but over time, so a less imminent timing relative to our expectation,” Carney said in an interview with the National Post newspaper.













Canada’s economy rebounded better than most from the global economic recession, and the Bank of Canada is the only central bank in the Group of Seven leading industrialized nations that is currently hinting at higher interest rates.


But Carney has also made clear that there will be no rate rise for a while, despite high domestic borrowing rates that he sees as a major risk to a still fragile economy.


“We’ve been very clear in terms of lines of defense in addressing financial vulnerabilities,” he said in the interview. “And the most prominent one, obviously, in Canada, is household debt.”


He said the bank was monitoring the impact of four successive government moves to tighten mortgage lending, which aimed to take the froth out of a hot housing market without causing a damaging crash in prices.


A Reuters poll published on Friday showed the majority of 20 forecasters believe the government has done enough to rein in runaway prices, preventing the type of crash that devastated the U.S. market.


The experts expect Canadian housing prices to fall 10 percent over the next several years, but they do not expect the recent property boom to end in a U.S.-style collapse.


(Reporting by Janet Guttsman; Editing by Vicki Allen)


Canada News Headlines – Yahoo! News



Read More..

Springsteen, McCartney, Kanye set for Sandy show
















NEW YORK (AP) — Paul McCartney, Bruce Springsteen & the E Street Band and Kanye West will hit the stage at a Superstorm Sandy benefit concert next month at Madison Square Garden.


MSG announced Thursday that Billy Joel, The Who, Alicia Keys and Jon Bon Jovi will also perform at the Dec. 12 show, dubbed “12-12-12.” More performers will be announced at a later date.













Proceeds from the concert will go to the Robin Hood Relief Fund to benefit those affected by Sandy in New York, New Jersey and Connecticut. Sandy’s assault more than two weeks ago created widespread damage and power outages throughout the area.


Entertainment News Headlines – Yahoo! News



Read More..

AcelRx pain treatment as effective as standard care in trial
















(Reuters) – AcelRx Pharmaceuticals Inc said its drug-device combination for post-operative pain was at least as effective as the standard of care, suggesting it has the potential to replace the current treatment.


AcelRx plans to file for marketing approval for the device in the third quarter of 2013, Pamela Palmer, co-founder and chief medical officer of AcelRx said on a conference call with analysts.













The company’s stock jumped 42 percent to a year high of $ 4.55 in heavy volume trade on Thursday, making it the third biggest percentage gainer on the Nasdaq.


AcelRx tested its ARX-01 Sufentanil NanoTab patient-controlled analgesia (PCA) system against intravenous (IV) PCA with morphine on 359 adult patients in a late-stage study.


Initial data from the study also showed that the NanoTab System was significantly better than intravenous morphine.


In terms of the efficacy, ease-of-use and patient satisfaction, it was a great response, Guggenheim Partners analyst Louise Chen said.


“There are other pain drugs out there, but in terms of a drug-device combo like this, I am not currently aware of anything that’s out there or that is as far along as this, Chen said.


The treatment could bring in peak sales of $ 247 million in 2018. However, if the company’s ARX-01 technology replaces the standard therapy, peak sales could top $ 3 billion, Chen added.


Intravenous PCAs with morphine are commonly used on patients in hospitals to manage pain after a surgery. However, opioids such as morphine can cause side-effects such as nausea and vomiting, and also carry the risk of causing addiction.


“Given the significant shortcomings of intravenous morphine, we believe with superiority data from a sublingually administered analgesia will go a long way in creating strong demand and usage in the hospital setting,” Cowen & Co analyst Edward Nash wrote in a note.


AcelRx said its NanoTab device, which consists of a handheld system, provides a non-invasive and more mobile way of treating pain. Instead of morphine, the device administers sufentanil, another opioid that has relatively fewer side-effects and is already widely used in labor and cardiac surgeries.


The late-stage study tested ARX-01 Sufentanil NanoTab in patients who underwent major abdominal or orthopedic surgery.


AcelRx is testing the same device with different drugs in three other late-stage studies involving patients that have undergone other types of surgeries.


Analyst Nash said data released on Thursday improves the company’s chances of finding success with the other ongoing late-stage trials as well.


Analysts Chen and Nash both have a price target of $ 3.20 on AcelRx’s stock. Nash has an outperform rating on the stock, while Chen rates it a buy.


(Reporting by Zeba Siddiqui in Bangalore; Editing by Roshni Menon)


Medications/Drugs News Headlines – Yahoo! News



Read More..

‘Angry Birds Star Wars’ Is More Addictive Fun Fans Want [REVIEW]
















Last month, Rovio announced a major partnership with Lucasfilm to create Angry Birds Star Wars. The game, out this week, represents a hybrid of the two powerful brands, and provides enjoyable gameplay for fans of both franchises.


[More from Mashable: Viral Video Recap: Memes of the Week]













For those unsure about the union, “I find your lack of faith disturbing.” Rovio has shown in Angry Birds Star Wars that it can create a fun, challenging game that doesn’t besmirch our favorite characters. Instead, laugh at images of Stormtroopers as pigs and Chewbacca as a giant, furry bird.


Angry Birds Star Wars doesn’t deviate from the main concept behind the series. The slingshot is back, and you’ve got to propel birds towards their swine foe to knock them over and destroy their fortresses. This is Rovio’s bread and butter, but it seems like each iteration of the game has been more creative, and asks more from players; Angry Birds Space added depth to the gameplay by including physics challenges, such as zero-gravity and planetary orbit.


[More from Mashable: iPad 4: A Turbocharged Tablet With Nothing to Do [REVIEW]]


Likewise, Angry Birds Star Wars creates new challenges by adding Star Wars-inspired powers to all of the birds, based on which character they portray. Red Bird, a.ka. Luke Skywalker, can swing a lightsaber to destroy objects he’s about smash into, or to take out an enemy. The bird version of Obi-Wan Kenobi can use The Force to push over obstacles while flying. Unsurprisingly, both of these powers are extremely fun to use (a lightsaber will always add entertainment value to whatever you’re doing).


The entire main cast of Star Wars Episode IV: A New Hope is represented in bird form; each has their own power to master. Similarly, many of the films’ settings are portrayed in the game by beautifully drawn backgrounds. The levels that take place on Tantooine feature the planet’s two suns setting on the horizon.


Angry Birds also reenact classic Star Wars movie moments in cutscenes that appear between every few levels. While they may be corny, the scenes will bring a smile to any player’s face, especially when encountering the Jawas or bounty hunter Greedo rendered as birds or pigs.


There are many other touches to Angry Birds Star Wars that clearly demonstrate the game’s developers are passionate Star Wars superfans. For example, there are classic sounds that make nerd hearts flutter, such as the blaster noise that goes off whenever players hit a level’s high score. The sound editing also incorporates the film’s score with some cartoony remixes.


While Angry Birds Star Wars is playable on mobile, tablet and PC, it’s a better fit for larger screens. Players won’t be able to enjoy the tiny details of the world, not to mention the art and cinematics, as much when screen size is smaller. Targeting Angry Birds’ powers to small, specific spots also proves more difficult.


This is a must-download for fans of either franchise, and Rovio has made it available on virtually every platform at launch. Angry Birds Star Wars is out now for iOS, Android, Kindle Fire, Windows Phone, Mac, PC and Windows 8, for either $ 0.99 or $ 2.99.


Title Screen


The Angry Birds Star Wars title screen. The HD version is available for tablets, Mac, PC and Windows 8.


Click here to view this gallery.


This story originally published on Mashable here.


Gaming News Headlines – Yahoo! News



Read More..

Egypt recalls envoy to Israel after Gaza strike
















CAIRO (AP) — Egypt has recalled its ambassador to Israel after an Israeli airstrike killed the military commander of Gaza‘s ruling Hamas.


In a statement read on state TV late Wednesday, spokesman Yasser Ali said that President Mohammed Morsi recalled the ambassador and asked the Arab League‘s Secretary General to convene an emergency ministerial meeting in the wake of the Gaza violence.













Morsi also called for an immediate cease fire between Israel and Hamas, an offshoot of Morsi’s Muslim Brotherhood. Israel says it struck in response to rocket attacks from Gaza.


Hours earlier, Morsi’s Muslim Brotherhood group denounced the Israeli airstrike as a “crime that requires a quick Arab and international response to stem these massacres.”


Relations between Israel and Egypt have deteriorated since longtime President Hosni Mubarak was ousted last year.


Middle East News Headlines – Yahoo! News



Read More..

Facebook jumps on biggest lock-up expiration day
















NEW YORK (AP) — Facebook‘s stock is up more than 7 percent despite expectations that it would fall because more than 850 million additional shares in the company are being freed up for sale.


Shares of Facebook Inc. are up $ 1.48, or 7.5 percent, at $ 21.34. Facebook went public in May at $ 38 in a much-hyped initial public offering of stock that turned out to be a letdown for investors. Its stock price hasn’t hit $ 38 since.













Wednesday marked the expiration of Facebook’s biggest lock-up period, which is a time following an IPO that prevents insiders from selling stock. In all, 773 million shares became eligible for sale, along with 31 million restricted stock units. And about 48 million shares held by former Facebook employees also became eligible for sale, bringing the total to 852 million. These shares would be on top of what’s already been available for trading, increasing the supply and potentially lowering the overall price.


Lock-ups are common after initial public stock offerings and are designed to prevent a stock from experiencing the kind of volatility that might occur if too many shareholders decide to sell all at once.


The previous lock-up expired on Oct. 29, when U.S. stock markets were closed because of Superstorm Sandy. Facebook’s stock fell nearly 4 percent two days later, when the stock market reopened.


Cantor Fitzgerald analyst Youssef Squali believes a potential increase in the capital gains tax on Jan. 1, when Bush-era tax cuts would expire unless Congress acts, could pressure Facebook’s stock. That said, he called the Menlo Park, Calif.-based social media company a “long-term winner.”


Facebook’s stock saw its biggest one-day gain on Oct. 24, the day after the company reported stronger-than-expected third-quarter results and detailed for the first time how much money it made from mobile ads. The stock, which added 19 percent that day, closed at $ 23.23. Even with Wednesday’s gain, it is still 8 percent below that price.


Social Media News Headlines – Yahoo! News



Read More..

Clapton platinum watch nets $3.6 million at auction
















GENEVA (Reuters) – An Asian collector bought a platinum chronograph Patek Philippe wristwatch owned by British rock guitarist Eric Clapton for 3.44 million Swiss francs ($ 3.63 million) at auction on Monday, Christie’s said.


The “ultra-rare” reference 2499/100 by the Swiss luxury watchmaker, one of only two cased in platinum, was acquired by Clapton some 10 years ago, it said.













It fetched a combined hammer price and commission that was in line with Christie’s pre-sale estimate of 2.5-4.0 million francs while also setting a world record price for this reference at auction, it said in a statement on its semi-annual Geneva sale.


“The Eric Clapton watch was bought by an Asian private collector,” Christie’s spokesman Cristiano de Lorenzo told Reuters, adding that the buyer had been in the room.


But the top lot at the seven-hour sale was another platinum chronograph Patek Philippe, reference 2458, made in 1952 for legendary American collector J.B. Champion. It fetched nearly 3.78 million Swiss francs and set a world record for a watch without complications, or features beyond the display of hours, minutes and seconds, it said.


Precious Time, an investment watch fund launched by Luxembourg-based Elite Advisers, was the buyer, Christie’s said in a statement.


In all, 96 percent of the 315 lots on offer found new owners, netting 27.04 million Swiss francs ($ 28.52 million), the auction house owned by French billionaire Francois Pinault said.


Clapton’s Patek Philippe, made in the Swiss city in 1987, has a perpetual calendar with moon phases, as well as windows for day and month and dials for seconds and minutes.


Most experts would rank it among the world’s 10 most significant wristwatches that stand out for historical importance, mechanical complexity, beauty, original condition, rarity and superior provenance, Aurel Bacs, international head of Christie’s watch department, said before conducting the sale.


Clapton, the former Cream musician, last year sold more than 70 of his guitars at a charity auction in New York, raising $ 2.15 million for the Crossroads Centre drug and alcohol rehabilitation centre that he founded in Antigua.


Last month in London he sold an abstract painting by German artist Gerhard Richter at rival Sotheby’s for $ 34.2 million, setting a new record for the price paid at auction for the work of a living artist.


Antiquorum’s sale of modern and vintage timepieces, held in Geneva on Sunday evening, netted 8.63 million Swiss francs ($ 9.10 million) for 485 lots sold out of 613 on offer, it said in a statement issued on Monday,


The top lot was a Rolex Single Red Prototype, known as the Sea Dweller Submariner, one of only six produced in 1967 for use by divers. It sold for 490,900 Swiss francs — four time its pre-sale estimate – in its first appearance at auction.


“It is the highest price ever paid for a Rolex sport watch and for a Sea Dweller,” Antiquorum said.


($ 1 = 0.9482 Swiss francs)


(Reporting by Stephanie Nebehay; editing by Patricia Reaney)


Music News Headlines – Yahoo! News



Read More..

EU approves Bristol-Astra diabetes drug after U.S. rejection
















(Reuters) – European regulators have approved the first in a new class of diabetes medicines that work independently of insulin to control blood sugar, the drug’s developers Bristol-Myers Squibb Co and AstraZeneca Plc said on Wednesday.


The approval of Forxiga by the European Commission stands in stark contrast to the rejection of the drug in January by U.S. regulators, who cited concerns about the risk of cancer and liver injury and asked for more clinical data on the once-daily tablets.













The European Medicines Agency in April said it was satisfied those issues had been addressed in the drug’s product label and via a risk management plan for the medicine. But many industry analysts believe the drug’s dim prospects in the larger U.S. market will sharply curtail its potential sales.


The European Commission on Wednesday approved Forxiga, which works by blocking a protein called SGLT2, or sodium-glucose cotransporter 2. It is meant to be used in combination with other treatments for type 2 diabetes, including insulin, or as a standalone treatment for patients who cannot tolerate the widely used oral treatment metformin.


Bristol-Myers and AstraZeneca said Forxiga in clinical trials was associated with a low risk of hypoglycemia, a side effect of many diabetes drugs in which blood sugar drops to levels that cause fainting and other dangerous complications.


Use of the drug in clinical trials was also associated with weight loss and declines in systolic blood pressure.


Johnson & Johnson is awaiting approval of its own SGLT2 inhibitor, canagliflozin. Like Forxiga, it blocks reabsorption of glucose by the kidney and increases glucose excretion in the urine to lower blood sugar, and is also associated with drops in body weight and blood pressure.


Shares of Bristol-Myers slipped 0.8 percent to $ 31.60, while AstraZeneca fell 0.6 percent, both on the New York Stock Exchange, amid similar declines for the broad stock market.


(Reporting By Ransdell Pierson; Editing by Tim Dobbyn)


Diseases/Conditions News Headlines – Yahoo! News



Read More..

Obama warns GOP to lay off Rice attacks

President Barack Obama speaks at his first news conference since his reelection. (Kevin Lamarque/Reuters)President Barack Obama bluntly told John McCain and other Republicans to lay off their attacks against U.N. Ambassador Susan Rice over the Benghazi assault, telling lawmakers that if they go after her "then you have a problem with me." And Obama, speaking at his first post-election press conference, vowed that Republican opposition would not dissuade him from nominating Rice to replace departing Secretary of State Hillary Clinton.


"I don't think there's any debate in this country that when you have four Americans killed that's a problem," he told reporters in the East Room of the White House. "And we've go to get to the bottom of it, and there needs to be accountability, we've got to bring those who carried it out to justice --they won't get any debate from me on that."


"But when they go after the U.N. ambassador, apparently because they think she's an easy target, then they've got a problem with me," he warned.


McCain, Senator Lindsey Graham of South Carolina, and some other Republicans have signaled they will oppose Rice's confirmation if Obama nominates her. Their numbers thus far seem far short of the 40 needed to block it, and some Republican senators have signaled that she should get a fair hearing.


"Let me say specifically about Susan Rice: She has done exemplary work. She has represented the United States and our interests in the United Nations with skill, and professionalism, and toughness, and grace," Obama said.


"And should I choose, if I think that she would be the best person to serve America in the capacity of the State Department, then I will nominate her," he vowed. "That's not a determination that I've made yet."


Rice and Democratic Senator John Kerry, who chairs the Senate Foreign Relations Committee, are seen as the front-runners in the race to succeed Clinton.


Conservatives have assailed Rice, who is close to Obama, ever since she made the rounds of the Sunday morning talk shows and said that American intelligence believed that the attack on the American compound in Benghazi, which claimed the lives of U.S. Ambassador Chris Stevens and three other Americans, grew out of demonstrations against an Internet video that ridicules Islam.


"As that unfolded, it seems to have been hijacked, let us say, by some individual clusters of extremists who came with heavier weapons, weapons that, as you know, in the wake of the revolution in Libya are quite common and accessible. And it then evolved from there," she told ABC.


White House aides have said that Rice was speaking based on the best available intelligence at the time.


"She made an appearance at the request of the White House in which she gave her best understanding of the intelligence provided to her," Obama said Wednesday. "If Senator McCain and Senator Graham want to go after somebody, they should go after me."


"But for them to go after the U.N. ambassador, who had nothing to do with Benghazi, and was simply making a presentation based on intelligence that she had received, and to besmirch her reputation is outrageous," he said.


"We're after an election now," he scolded. "I think it is important for us to find out exactly what happened in Benghazi, and I'm happy to cooperate in any ways that Congress wants. We have provided every bit of information that we have and we will continue to provide information and we've got a full-blown investigation. And all that information will be disgorged to Congress."


McCain and Graham hit back quickly.


"I have always said that the buck stops with the President of the United States," the Arizona senator said in a written statement. McCain accused Obama of "contradictory statements" about the attack, labeling it an "act of terror" the day after it happened then resisting the use of the word "terrorism" for roughly a week afterwards.


"We owe the American people and the families of the murdered Americans a full and complete explanation, which for two months the President has failed to deliver," said McCain, who has called for Congress to create a "select committee" to investigate.


"Mr. President, don't think for one minute I don't hold you ultimately responsible for Benghazi.  I think you failed as commander in chief before, during and after the attack," Graham said in a statement released by his office.


"We owe it to the American people and the victims of this attack to have full, fair hearings and accountability be assigned where appropriate. Given what I know now, I have no intention of promoting anyone who is up to their eyeballs in the Benghazi debacle," Graham said.


Obama opened what was his first press conference in months with a vow to work with both parties in Congress to tackle the so-called fiscal cliff and revive the economy. He also said he had "no evidence" that the scandal that led David Petraeus to resign in disgrace from his job as CIA director had led to breaches in classified national security material.


"Right now our economy is still recovering from a very deep and damaging crisis, so our top priority has to be jobs and growth," Obama said in opening remarks in the East Room of the White House.


"Both parties can work together" to address the fiscal challenges "in a balanced and responsible way," he said, before pushing Republicans to sign on to his call for raising taxes on the richest Americans.


Asked whether the scandal the drove Petraeus from office had led to national security breaches, Obama replied: "I have no evidence at this point, from what I've seen, that classified information was disclosed that in any way would have had a negative impact on our national security." And the president praised the retired general, saying "we are safer because of the work Dave Petraeus has done."


Asked for his appraisal of the FBI's work in bringing to light the marital infidelity that Petraeus cited in his resignation message, and why he and the American public learned of the probe only earlier this month, Obama said "I am withholding judgment" on that process but expressed "a lot of confidence generally in the FBI."


Turning to his tax battle with Republicans, Obama stuck by his vow to oppose any legislation that extends the Bush-era tax cuts for the wealthiest 2 percent of Americans. The president, asked why he had agreed to extend them in the 2010 lame duck session of Congress, said that "was a one-time proposition" and that "we cannot afford" to do so again.


Obama said he would be willing to look at raising tax revenues by closing loopholes. But he warned that doing so would probably not outweigh an estimated trillion dollars lost by extending tax cuts on income above $250,000. "The math tends not to work," he said.


"I just want to emphasize: I am open to new ideas," Obama underlined. "If the Republican counterparts or some Democrats have a great idea for us to raise revenue, maintain progressivity, make sure the middle class isn't getting hit, reduces our deficit, encourages growth, I'm not going to just slam the door in their face. I want to hear ideas from everybody."


And he reiterated that he does not want just a stopgap agreement with Congress.


"I want a big deal, I want a comprehensive deal," he said. "Fair-minded people can come to an agreement."


Obama, who won the Latino vote by a lopsided margin, also vowed to pursue comprehensive immigration reform in his second term. He said it should include border enforcement, penalties for companies that knowingly hire undocumented workers, while providing "a pathway for legal status" for those who pay their taxes and learn English. He also said it should lock in his presidential determination that undocumented immigrants brought here as children should not be deported but have a potential path to citizenship.


"We need to seize the moment," he said, predicting that "we will have a bill introduced and we begin the process in Congress very soon after my inauguration."


Obama addressed a handful of other issues:


- On the standoff over Iran's suspect nuclear program


Obama pledged to "try to make a push in the coming months to see if we can open up a dialogue between Iran and not just us but the international community, to see if we can get this thing resolved." "I can't promise that Iran will walk through the door that they need to walk though, but that would be very much the preferable option" to military action, he said.


- On the possibility of working with Republican rival Mitt Romney


Obama said that "we haven't scheduled something yet." "I think everybody needs to catch their breath. I'm sure that Governor Romney is spending some time with his family. And my hope is, before the end of the year, though, that we have a chance to sit down and talk," the president said.


- On whether he has a mandate


"I don't presume that because I won an election, that everybody suddenly agrees with me on any — everything. I'm more than familiar with all the literature about presidential overreach in second terms," Obama said. "We are very cautious about that."


"On the other hand, I didn't get re-elected just to bask in re- election. I got elected to do work on behalf of American families and small businesses all across the country who are still recovering from a really bad recession but are hopeful about the future. And I am, too."


- On climate change


Obama said he would embark "over the next several weeks, next several months" in a "wide-ranging discussion" with scientists, engineers, elected officials and others about "short-term" steps in reducing carbon emissions blamed for fueling global warming. But he seemed pessimistic about any broad response.


"I don't know what either Democrats or Republicans are prepared to do," he said. "There's no doubt that for us to take on climate change in a serious way would involve making some tough political choices."


"And you know, understandably, I think the American people right now have been so focused and will continue to be focused on our economy and jobs and growth that, you know, if the message is somehow we're going to ignore jobs and growth simply to address climate change, I don't think anybody's going to go for that. I won't go for that."


- On relations with the media. Bloomberg reporter Hans Nichols shouted out a question about taxes after Obama had indicated that he had already taken his final query.


"That was a great question, but it would be a horrible precedent for me to answer your question just because you yelled it out," he said. "So thank you very much, guys."


Read More..

Obama holds first reelection press conference

President Barack Obama speaks at his first news conference since his reelection. (Kevin Lamarque/Reuters)President Barack Obama bluntly told John McCain and other Republicans to lay off their attacks against U.N. Ambassador Susan Rice over the Benghazi assault, telling lawmakers that if they go after her "then you have a problem with me." And Obama, speaking at his first post-election press conference, vowed that Republican opposition would not dissuade him from nominating Rice to replace departing Secretary of State Hillary Clinton.


"I don't think there's any debate in this country that when you have four Americans killed that's a problem," he told reporters sternly in the East Room of the White House. "And we've go to get to the bottom of it, and there needs to be accountability, we've got to bring those who carried it out to justice --they won't get any debate from me on that."


"But when they go after the U.N. ambassador, apparently because they think she's an easy target, then they've got a problem with me," he warned.


McCain, Senator Lindsey Graham, and some other Republicans have signaled that they will oppose Rice's confirmation if Obama nominates her. Their numbers thus far seem far short of the 40 needed to block it, and some Republican Senators have signaled that she should get a fair hearing.


"Let me say specifically about Susan Rice: She has done exemplary work. She has represented the United States and our interests in the United Nations with skill, and professionalism, and toughness, and grace," Obama said.


"And should I choose, if I think that she would be the best person to serve America in the capacity of the State Department, then I will nominate her," he vowed. "That's not a determination that I've made yet."


Rice and Democratic Senator John Kerry, who chairs the Senate Foreign Relations Committee, are seen as the front-runners in the race to succeed Clinton.


Conservatives have assailed Rice, who is close to Obama, ever since she made the rounds of the Sunday morning talk shows saying that American intelligence believed that the attack on the American compound in Benghazi, which claimed the lives of U.S. Ambassador Chris Stevens and there other Americans, grew out of demonstrations against an Internet video that ridicules Islam.


"As that unfolded, it seems to have been hijacked, let us say, by some individual clusters of extremists who came with heavier weapons, weapons that, as you know, in the wake of the revolution in Libya are quite common and accessible. And it then evolved from there," she told ABC.


Republicans have seized on some of her other comments suggesting that the attack grew out of a "spontaneous, not premeditated" demonstration in response to the Internet video -- there was no demonstration. White House aides have said that Rice was speaking based on the best available intelligence at the time.


"She made an appearance at the request of the White House in which she gave her best understanding of the intelligence provided to her," Obama said Wednesday. "If Senator McCain and Senator Graham want to go after somebody, they should go after me."


"But for them to go after the U.N. ambassador, who had nothing to do with Benghazi, and was simply making a presentation based on intelligence that she had received, and to besmirch her reputation is outrageous," he said.


"We're after an election now," he scolded. "I think it is important for us to find out exactly what happened in Benghazi, and I'm happy to cooperate in any ways that Congress wants. We have provided every bit of information that we have and we will continue to provide information and we've got a full-blown investigation. And all that information will be disgorged to Congress."


Graham, who represents South Carolina, hit back quickly.


"Mr. President, don't think for one minute I don't hold you ultimately responsible for Benghazi.  I think you failed as Commander in Chief before, during, and after the attack," he said in a statement released by his office.


"We owe it to the American people and the victims of this attack to have full, fair hearings and accountability be assigned where appropriate. Given what I know now, I have no intention of promoting anyone who is up to their eyeballs in the Benghazi debacle," Graham said.


Obama opened what was his first press conference in months — and first since the election that gave him a second term — with a vow to work with both parties in Congress to tackle the so-called "fiscal cliff" and revive the economy. He also said he had "no evidence" that the scandal that led David Petraeus to resign in disgrace from his job as CIA director had led to breaches in classified national security material.


"Right now our economy is still recovering from a very deep and damaging crisis, so our top priority has to be jobs and growth," Obama said in opening remarks in the East Room of the White House.


"Both parties can work together" to address the fiscal challenges "in a balanced and responsible way," he said, before pushing Republicans to sign on to his call for raising taxes on the richest Americans.


In response to the first question, regarding Petraeus, Obama said he had "no evidence at this point from what I've seen" that there had been any national security breaches. And the president praised the retired general, saying "we are safer because of the work Dave Petraeus has done."


Asked later for his appraisal of the FBI's work in bringing to light the marital infidelity that Petraeus cited in his resignation message, and why he learned of the probe only earlier this month, Obama said "I am withholding judgment" on that process but expressed "a lot of confidence generally in the FBI."


Turning to his tax battle with Republicans, Obama stuck by his vow to oppose any legislation that extends the Bush-era tax cuts for the wealthiest two percent of Americans. The president, asked why he had agreed to extend them in the 2010 lame duck session of Congress, said that "was a one-time proposition" and that "we cannot afford" to do so again.


Obama said he would be willing to look at raising tax revenues by closing loopholes but said that "the math tends not to work" when it comes to making up that way for extending the tax rate reductions on income above $250,000. And he reiterated that he does not want a stopgap agreement with Congress.


"I want a big deal, I want a comprehensive deal," he said. "Fair-minded people can come to an agreement."


Obama, who won the Latino vote by a lopsided margin, also vowed to pursue comprehensive immigration reform in his second term.


"We need to seize the moment," he said, predicting that "we will have a bill introduced and we begin the process in Congress very soon after my inauguration."


Read More..