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Archive for 10/02/12

Reese Witherspoon delivers third child, a boy named Tennessee

Cast member Reese Witherspoon arrives on the red carpet for the screening of the film ''Mud'', in competition at the 65th Cannes Film Festival, May 26, 2012. REUTERS/Yves Herman

Cast member Reese Witherspoon arrives on the red carpet for the screening of the film ''Mud'', in competition at the 65th Cannes Film Festival, May 26, 2012.

Credit: Reuters/Yves Herman

LOS ANGELES | Thu Sep 27, 2012 2:55pm EDT

LOS ANGELES (Reuters) - Oscar-winning actress Reese Witherspoon gave birth to a baby boy on Thursday, her first child with husband Jim Toth, and has named him Tennessee James, her representative said.

Witherspoon has two older children - daughter Ava, 12, and son Deacon, 9 - with first husband Ryan Phillippe. The couple divorced in 2007.

"Reese Witherspoon and husband Jim Toth welcomed Tennessee James into their family today. Both mom and baby are healthy and the entire family is thrilled," Witherspoon's spokeswoman Meredith O'Sullivan Wasson said in a statement.

The "Legally Blonde" actress married talent agent Toth at her ranch in Ojai, California in March this year.

Witherspoon, 36, who grew up in Nashville, Tennessee, won an Oscar for her work on 2005 country music film, "Walk the Line."

(Reporting by Piya Sinha-Roy; Editing by Jill Serjeant and Bernadette Baum)


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Russian metals moguls settle RUSAL stake spat

Russian tycoon Oleg Deripaska takes part in a discussion meeting at the St. Petersburg International Economic Forum in St. Petersburg, June 22, 2012. REUTERS/Sergei Karpukhin

Russian tycoon Oleg Deripaska takes part in a discussion meeting at the St. Petersburg International Economic Forum in St. Petersburg, June 22, 2012.

Credit: Reuters/Sergei Karpukhin



LONDON/MOSCOW | Thu Sep 27, 2012 10:32pm EDT


LONDON/MOSCOW (Reuters) - Russian billionaires Oleg Deripaska and Michael Cherney reached an 11th-hour settlement in a dispute over a billion dollar slice of aluminum giant RUSAL (0486.HK), shortly before they were due to give evidence in a drawn-out London court case.


The case, which had been expected to run well into 2013, was due to dwell on allegations of broken promises, criminality and mob rule while shining a light on the murky carve-up of lucrative smelters in the 'wild east' of post-Soviet Siberia.


"Mr. Deripaska announces that Mr. Cherney's litigation in London against him has been terminated," a spokesperson for Deripaska said in a brief statement. "Neither party will be making any further comment in relation to the litigation or matters raised therein."


Cherney's team released a nearly identical statement.


Cherney, born in Ukraine, raised in Uzbekistan, Jewish by creed and living in Israel since leaving Russia in 1994, alleged that metals mogul Deripaska reneged on a deal to buy him out of their joint aluminum business, RUSAL.


Well-connected Deripaska, who controls RUSAL and is a survivor of President Vladimir Putin's crackdown on oligarchs who once wielded great political power, denied having had any such business relationship with Cherney. He alleged he was the victim of a protection racket Cherney helped orchestrate - an accusation Cherney denied.


Cherney, who in 2008 won the right to bring his case against Deripaska in London's respected courts - the venue of choice for the warring Russian wealthy - was due to be cross-examined next Tuesday via video-link from Israel. An outstanding arrest warrant relating to a separate money laundering investigation prevents him from travelling to London.


Lawyers were intrigued at the last-minute deal.


"The experience in most of these cases is that they do go to trial because no one is willing to back down," said Philippa Charles, a litigation partner at law firm Mayer Brown.


"So it's interesting that the level of publicity has perhaps focused the minds of both parties on whether or not it is actually worth having their dirty linen washed in public."


THE POWER OF METAL


The Russian aluminum industry, like much of Russia's raw materials sector, came under the control of a few powerful oligarchs during the huge selloff of state assets that followed the collapse of communism and of the Soviet Union in 1991. The brutality of the business rivalry over aluminum smelters gave birth to the term 'aluminum wars'.


Cherney's case against Deripaska had overtones of a recent battle between Russian oligarchs Boris Berezovsky and Roman Abramovich, which in August helped ensure the concept of "krysha", or roof, was established in English courts.


Berezovsky's claim for $6 billion was dismissed and Judge Elizabeth Gloster described him as an 'inherently unreliable witness'. Abramovich had said he had paid money to Berezovsky for 'krysha' services of political cover and protection,


A "krysha", in Russian gangster parlance, can be either a figure who genuinely protects, in return for payment, the interests of a business in a sometimes brutal business world or it can refer to a racketeer extorting money by intimidation. The boundary between the two can, of course, be blurred.


The case, which began in July when both sides published opening statements and lawyers laid out the details of their arguments in front of Judge Andrew Smith, hinged in part on what was agreed in a London hotel 11 year ago.


Cherney and Deripaska agreed they met at the Lanesborough Hotel on a March morning in 2001, that they signed one document and that Deripaska handed Cherney $250 million. Everything else, even exactly when they first met each other, was disputed.


Deripaska says he made the payment to terminate a krysha arrangement with Cherney, partly because his business was now powerful enough, and his security forces strong enough, to confront criminal gangs.


Cherney says he had orally agreed a 50/50 partnership with Deripaska in 1993, which lasted until March 2001. He alleges Deripaska then agreed at the Lanesborough meeting to pay him a preliminary $250 million for his aluminum interests held by Deripaska - and also agreed to buy him out of the remainder of his stake within a few years.


RUSAL, the product of a slew of takeovers and mergers mainly in Siberia, where the hydro-electric power needed to fuel hungry smelters comes cheap, has emerged as Russia's only aluminum producer. Cherney alleged a 13.2 percent stake belongs to him.


Deripaska, a former physics student who started investing in aluminum assets in 1991 who has entertained top British politicians on his 70 million pound ($114 million) yacht, says he was forced into a "krysha" after being threatened by some of the country's most powerful criminal gangs in the mid-1990s.


Stories abound about such "protection" mobs attacking the wives and relatives of those who failed to do their bidding, launching fictitious criminal proceedings, violent takeovers of businesses or simply liquidating rivals and critics.


($1 = 0.6164 British pounds)


(Writing by Kirstin Ridley, Additional reporting by Clara Ferreira-Marques; Editing by Ralph Boulton and Mark Potter)


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Actor Johnny Lewis found dead in LA, linked to killing

Actor Johnny Lewis arrives at the screening of the film ''Lovely Molly'' at the 36th Toronto International Film Festival in this September 14, 2011 file photo. REUTERS/Mike Cassese/Files

Actor Johnny Lewis arrives at the screening of the film ''Lovely Molly'' at the 36th Toronto International Film Festival in this September 14, 2011 file photo.

Credit: Reuters/Mike Cassese/Files

LOS ANGELES | Thu Sep 27, 2012 6:03pm EDT

LOS ANGELES (Reuters) - Actor Johnny Lewis, who had a supporting role in the TV show "Sons of Anarchy," was found dead on Wednesday in a Los Angeles neighborhood where he was suspected of killing an 81-year-old woman from whom he may have been renting a room, police said on Thursday.

Police responded to a call on Wednesday morning about a screaming woman in the affluent Los Feliz section and found Catherine Davis dead in her home, Los Angeles Police Department spokesman Officer Cleon Joseph said.

Joseph said that Lewis, 28, who had been released from jail five days earlier, was also dead in the home's driveway after either falling or jumping from the roof.

The officer said the circumstances around the deaths were still being investigated. "Detectives believe that he may have committed the murder," Joseph said of Lewis, adding that the motive was unknown.

Lewis pleaded guilty in a Los Angeles-area court last month to assault with a deadly weapon, District Attorney's Office spokeswoman Jane Robison said. In a different case, he also pleaded no contest to attempted burglary, Robison said.

Lewis was sentenced to jail in both cases. He was released from jail last Friday, county records showed.

It was unclear on Thursday why he was released on that date and how much of his sentence had been served.

Lewis had a supporting role in the first two seasons of "Sons of Anarchy," a television drama featuring an outlaw motorcycle club. He played Kip "Half Sack" Epps, an Iraq War veteran who hung out with the biker club featured in the show.

The Los Angeles-born Lewis previously had recurring roles in the TV shows "Boston Public" and "The O.C."

Kurt Sutter, creator of "Sons of Anarchy", said in a statement that Lewis' death was a "tragic end for an extremely talented guy, who unfortunately had lost his way."

"I wish I could say that I was shocked by the events last night, but I was not," Sutter said. "I am deeply sorry that an innocent life had to be thrown into his destructive path."

(Reporting by Alex Dobuzinskis and Colleen Jenkins; Editing by Cynthia Johnston and Andrew Hay)


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Rapper Lil Wayne breaks Elvis Presley's Billboard record

LOS ANGELES | Thu Sep 27, 2012 7:10pm EDT

LOS ANGELES (Reuters) - Rapper Little Wayne toppled Elvis Presley to become the new King of the Billboard Hot 100 singles chart on Thursday, with a total of 109 songs, Billboard said.

Wayne, who also celebrated his 30th birthday on Thursday, surpassed Presley's count of 108 entries in the Hot 100 singles chart between 1958 and 2003, as an artist on rapper Game's latest track "Celebration." That track also features Chris Brown, Tyga and Wiz Khalifa, entering the chart at No. 82 this week.

The rapper, nicknamed Weezy, released his debut studio album "Tha Block Is Hot" in 1999. He has steadily grown to become one of the top names in U.S. hip hop, with hit singles including "Right Above It" and "6 Foot 7 Foot."

Wayne ranked fifth on Billboard's list of top-earning musicians in 2011, with an estimated $23.1 million.

Presley, the 'King' of rock'n'roll, held his title as the artist with the most Hot 100 singles for 45 years, with his single "Rubberneckin'" last appearing on the chart at No. 100 in 2003.

His career predated the inception of the Billboard 100 chart, which started in 1958, so some of his most famous hits such as "Heartbreak Hotel" and "Hound Dog" never made it onto the chart.

Both Wayne and Presley were overtaken by the cast of Fox's hit musical television show "Glee," who have had a total of 204 entries in the Hot 100 to date.

(Reporting by Piya Sinha-Roy; Editing by Jan Paschal)


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Auction of $7 Renoir canceled, may be stolen from Baltimore museum

By Ian Simpson

WASHINGTON | Thu Sep 27, 2012 9:51pm EDT

WASHINGTON (Reuters) - A Virginia auction house on Thursday canceled the sale of a Renoir painting bought at a flea market for $7 after signs the work was stolen from the Baltimore Museum of Art decades ago.

The painting "Paysage Bords de Seine" by Pierre-Auguste Renoir was to have gone under the hammer on Saturday but ownership questions halted the sale, said Lucie Holland, a spokeswoman for Potomack Co, the Alexandria, Virginia, auctioneer.

"The rest of the auction will go on, but the Renoir has been withdrawn," she said.

A Virginia woman bought the signed French Impressionist painting at a West Virginia flea market a year or two ago, hoping the frame would be of some use.

She ignored the work until it turned up again while housecleaning and had it appraised by Potomack in July. The auctioneers verified it as a Renoir and estimated its worth at $75,000 to $100,000.

The Baltimore Museum of Art told Potomack on Wednesday that its records indicated "Paysage Bords de Seine," or "Landscape on the Banks of the Seine," was stolen while on loan to the museum in 1951, the auction house said.

Potomack told the FBI and a federal probe is under way. There is no known police report on the theft.

BOUGHT IN PARIS

The Renoir came to the Baltimore museum through one of its leading benefactors, collector Saidie May. Her family bought the painting from the Bernheim-Jeune gallery in Paris in 1926.

The Washington Post found records in the museum's library on Tuesday that showed May had lent the paintings and other works to the museum in 1937, Potomack said.

After the newspaper told it of the findings, the Baltimore museum checked its files and found a loan record showing the Renoir had been stolen on November 17, 1951. What happened to it after the theft is unknown.

Doreen Bolger, the museum director, said the museum's probe into what happened to the painting was in early stages but was centered on May.

She died in May 1951 and the art collection was willed to the museum. As its ownership was going through legal transfer, the painting was stolen while still listed as on loan.

"At this point we just want to make sure that the painting winds up where it belongs and that we provide all the information we can to law enforcement about this issue," Bolger said.

Potomack said the painting had not turned up when it checked London's Art Loss Register, a database of stolen and lost art. It also consulted the FBI's art theft website to confirm it was not listed as stolen.

(Editing by Mohammad Zargham)


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Goldman Sachs settles "pay-to-play" probes

A Goldman Sachs sign is seen on the floor of the New York Stock Exchange, April 16, 2012. REUTERS/Brendan McDermid

A Goldman Sachs sign is seen on the floor of the New York Stock Exchange, April 16, 2012.

Credit: Reuters/Brendan McDermid



WASHINGTON | Thu Sep 27, 2012 5:11pm EDT


WASHINGTON (Reuters) - Goldman Sachs Group Inc will pay more than $14 million to settle federal and state charges after it violated "pay-to-play" rules, in a case involving campaign contributions to former Massachusetts gubernatorial candidate Timothy Cahill.


Neil Morrison, a former vice president in Goldman's Boston office, worked extensively on Cahill's 2010 campaign while also soliciting underwriting business from the Massachusetts treasurer's office, the Securities and Exchange Commission said.


Cahill at the time was Massachusetts state treasurer.


In what the SEC described as its first "pay-to-play" case involving contributions other than cash, Goldman settled without admitting or denying the charges.


The SEC also charged Morrison, and the case against him continues.


Pay-to-play refers to cash or other contributions made to officials to influence the award of lucrative public contracts.


The SEC announced that Goldman will pay about $12 million to settle the SEC's case. Later Thursday, the Massachusetts attorney general's office revealed details on its related case, which brings the total settlement to $14.4 million.


The SEC's complaint describes how Morrison conducted campaign activities for Cahill, including fundraising, drafting speeches, and speaking to reporters, and how some of this work was done from Goldman's offices during business hours.


During the 13 months through October 2010, Morrison sent at least 364 campaign-related emails using his Goldman Sachs email account.


The campaign work gave Morrison access to Cahill and his staff, who provided him internal information about the underwriter selection process, the SEC said.


Morrison also directly discussed his campaign work in relation to securing business for Goldman Sachs in emails, according to SEC documents.


"From my standpoint as an advisor/consultant/friend, I am saying, PLEASE don't give these (underwriter) slots away willy-nilly," Morrison wrote in one email to an official in Cahill's office. "You are in the fight of your lives and need to reward loyalty and encourage friendship."


Morrison's use of Goldman work time and resources for the campaign activities also disqualified Goldman from bidding for municipal underwriting business with certain issuers in the state. But Goldman went on to participate in 30 prohibited underwritings, earning it more than $7.5 million in fees, the SEC said.


A Goldman spokesman, Michael DuVally, said in a statement that the firm had detected Morrison's activities, fired him, and cooperated with regulators.


"We accept responsibility for the consequences of his unauthorized actions under the terms of the settlements announced today and are pleased to resolve these investigations," DuVally said.


A lawyer for Morrison did not respond to a request for comment.


The case has drawn Goldman into the legal morass that has surrounded Cahill since he lost his gubernatorial bid to incumbent Deval Patrick.


In April, Cahill was indicted on criminal public corruption charges for allegedly using the state's taxpayer-funded lottery advertising budget to boost his sagging campaign.


An attorney for Cahill, Jeffrey Denner, said he had not reviewed the SEC documents, and would have no comment since the order did not directly name Cahill as a defendant.


Robert Khuzami, who heads the SEC's enforcement division, said in a statement: "The "pay-to-play" rules are clear: Municipal finance professionals that use their firm's resources to campaign on behalf of political candidates compromise themselves and the firms that employ them."


The SEC has undertaken a broader crackdown of "pay-to-play" practices in recent years. In 2010, it adopted new measures that target activities of investment advisers who seek out contracts to manage public pension plans and other types of investment accounts.


(Additional reporting by Karey Wutkowski; Editing by Bernadette Baum and Sofina Mirza-Reid)


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