An Apple IPhone 4s and Samsung Galaxy S are seen in this illustration photo in Berlin August 27, 2012.

SAN FRANCISCO | Fri Sep 28, 2012 1:57pm EDT

SAN FRANCISCO (Reuters) - A U.S. appeals court ruled on Friday that a lower court should reconsider a sales ban against Samsung's Galaxy Tab 10.1 won by Apple in a patent dispute with the South Korean electronics maker.

The injunction was put in place ahead of a month-long trial that pitted iPhone maker Apple Inc against Samsung Electronics Co Ltd in a closely watched legal battle that ended with a resounding victory for Apple last month on many of its patent violation claims.

However, the jury found that Samsung had not violated the patent that was the basis for the tablet injunction and Samsung argued the sales ban should be lifted. U.S. District Judge Lucy Koh said she could not act because Samsung had already appealed.

In its ruling on Friday, the Federal U.S. Circuit Court of Appeals in Washington said Koh could now consider the issue.

The decision comes just a month before the South Korean corporation is expected to unveil the second generation of one of its most successful devices, the stylus-equipped Note.

The Galaxy 10.1 is an older model, but the ban still hurts Samsung in the run-up to the pivotal holiday shopping season.

The world's top two smartphone makers are locked in patent disputes in 10 countries as they vie to dominate the lucrative market, which is growing rapidly.

A U.S. jury found during the just-concluded trial that Samsung had copied critical features of the iPhone and iPad and awarded Apple $1.05 billion in damages.

(Reporting By Dan Levine; Editing by Lisa Von Ahn. Editing by Andre Grenon)

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Shoppers checkout at a Target store in Falls Church, Virginia May 28, 2010. U.S. consumer spending was unexpectedly flat in April but real disposable incomes recorded their biggest increase in nearly a year a government report showed on Friday.

WASHINGTON | Fri Sep 28, 2012 4:31pm EDT

WASHINGTON (Reuters) - U.S. households stretched to pay for costlier gasoline on meager income growth in August, undercutting spending on other items and pointing to lackluster economic growth.

Other data on Friday showed factory activity in the Midwest contracted this month for the first time in three years.

The Commerce Department said consumer spending rose 0.5 percent last month after gaining 0.4 percent in July. The increase was the largest in six months, but it reflected a rise in gasoline costs that pushed inflation up by the most in nearly 1-1/2 years.

Adjusting for the jump in prices, spending edged up a scant 0.1 percent. With inflation wiping out their buying power, consumers curbed their saving to fund purchases -- a potentially bad omen for future spending.

"Consumers are supporting the recovery, but they are just not able to lead it because of the soft jobs market and little income. They are running low on fire power," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.

Income ticked up 0.1 percent but was down 0.3 percent after accounting for inflation and taxes. It was the first decline in real disposable income since November.

With inflation-adjusted spending barely rising last month, real consumer spending, which accounts for about 70 percent of U.S. economic activity, is unlikely to grow much more than the tepid 1.5 percent annual pace recorded in the April-June period.

Walgreen Co, the largest U.S. drugstore chain, posted a lower quarterly profit on Friday and said it had faced a challenging year in which consumers cut back on everyday purchases. At stores open at least a year, sales fell 8.7 percent in Walgreen's latest quarter.

FACTORIES LOSING STEAM

Separately, the Institute for Supply Management-Chicago said its Midwest factory barometer found activity contracted this month for the first time since September 2009, reflecting weak new orders and a slowdown in hiring.

It was consistent with other recent reports flagging a cooling in manufacturing, a sector that had been the pillar of the economy's recovery.

"To the extent that the moderation in manufacturing activity is reflecting weakening domestic and global demand, it may be a harbinger of continued sup-par GDP growth," said Millan Mulraine, a senior economist at TD Securities in New York.

But households appear little perturbed by the gathering dark clouds. Consumer confidence touched a four-month high in September, boosted by higher stock market prices and gains in home values. That resilience could be a boost to President Barack Obama as he seeks a second term in November.

Economists, however, cautioned that household morale could sour towards the end of the year if the U.S. Congress fails to avoid the so-called fiscal cliff -- $600 billion or so in expiring tax cuts and government spending reductions set to take hold in 2013.

The mixed data sent U.S. stocks lower. However, Wall Street recorded its best third quarter since 2010. Prices for U.S. Treasury debt pushed higher, supported by doubts over the chances for success of debt-ridden Spain's 2013 budget. The dollar rose against the euro, advancing for a second straight week.

TROUBLE GAINING STEAM

Slower consumer spending and a drop in farm inventories due to a severe drought in the Midwest held gross domestic product growth to a 1.3 percent pace in the second quarter, a step down from 2 percent in the first three months of the year.

Growth estimates for the third quarter range from 1.2 percent to 2.1 percent. Spending last month was funded by cutting back on saving, which economists said put households on shaky ground, particularly if income taxes go up in January.

"It highlights how imperative it is that Congress deals with this issue. This is not an economy that can bear the burden of fiscal tightening right now," said Julia Coronado, chief North America economist at BNP Paribas in New York.

Inflation pressures picked up last month on the back of the 28.2 cents per gallon rise in gasoline prices. A price index for personal spending increased 0.4 percent, the largest rise since March last year, taking the 12-month gain up to 1.5 percent from 1.3 percent in July.

However, a measure which strips out food and energy costs, rose only 0.1 percent from July. Year-on-year that core measure was up 1.6 percent, the same as in July and the fifth straight month of increases below 2 percent.

The Federal Reserve has a 2 percent inflation target and the still-moderate pace of inflation should give it comfort to maintain its accommodative monetary policy stance for a while as it seeks to spur job growth and domestic demand.

(Additional reporting by Jessica Wohl in Chicago; Editing by Tim Ahmann and Kenneth Barry)

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Fri Sep 28, 2012 6:38pm EDT

n">(Reuters) - Education reform film "Won't Back Down" opened Friday to terrible reviews - and high hopes from activists who expect the movie to inspire parents everywhere to demand big changes in public schools.

The drama stars Maggie Gyllenhaal as a spirited mother who teams up with a passionate teacher to seize control of their failing neighborhood school, over the opposition of a self-serving teachers union.

Reviewers called it trite and dull, but education reformers on both the left and right have hailed the film as a potential game-changer that could aid their fight to weaken teachers' unions and inject more competition into public education.

Private foundations, nonprofit advocacy groups and the U.S. Chamber of Commerce have pumped more than $2 million into advocacy efforts tied to "Won't Back Down," including 30-second ads, promotional bookmarks, websites, private screenings and a six-month, cross-country discussion tour that will keep the film in circulation long after it leaves theaters.

Their goal: To attract new foot soldiers who will help them fight for legislation that allows parents to seize control of local schools, as dramatized in the film; eliminates tenure protections for veteran teachers; and opens the door for more competition to neighborhood schools in the form of charters, which are publicly funded but privately run.

"This movie has the potential to be one of the most transformative vehicles in the history of education reform," said Ben Austin, a longtime Democratic activist.

Austin now runs Parent Revolution, which promotes "parent trigger" laws allowing parents unhappy with struggling schools to take control, fire teachers and bring in private management.

His organization is holding 35 private screenings of "Won't Back Down" in states from Georgia to Utah to New York over the next month to rally more parents to the cause. "This movie is telling a story that's relevant to hundreds of thousands of parents across America," Austin said.

Union leaders, for their part, have slammed the movie as a propaganda film that bears little resemblance to reality.

Randi Weingarten, president of the American Federation of Teachers, has called it "egregiously misleading" and complained that several scenes seemed designed for "the sole purpose of undermining people's confidence in public education, public school teachers and teacher unions."

Parent groups that support teachers' unions have organized protests outside some screenings. And they've been gleefully posting negative reviews of "Won't Back Down" on Facebook and Twitter.

PUSH FOR CHARTER SCHOOLS

So far, the reform coalition has ignored the bad reviews and pushed ahead with their marketing efforts.

The drive to capitalize on the movie grows out of lingering disappointment within the education reform community over the last major film to carry their message, the documentary "Waiting for 'Superman.'"

Produced by Walden Media, which is also behind "Won't Back Down," the documentary chronicled dysfunction in urban schools and the desperation of parents trying to find alternatives for their children.

"Waiting for 'Superman'" was well-received and widely viewed, thanks to backing by the Gates Foundation. But activists hoping for a big boost from the film were disappointed.

"We didn't feel we captured anyone," said Matt David, a consultant to Michelle Rhee, former chancellor of Washington D.C. public schools and a major figure in the reform movement. Many viewers walked out angry at the public school system, he said, but had no way to channel that emotion into action.

This time, Rhee is moving quickly to provide a channel. Her advocacy group, StudentsFirst, has bought 30-second ads to run before showings of "Won't Back Down" in 1,500 theaters and sponsored marketing efforts to drive viewers to her website.

That website has been revamped to feature an "action center" where people moved by the film can sign up to join StudentsFirst, view short videos about its agenda (including one from comedian and newly appointed board member Bill Cosby), and share their own experiences with public schools.

The Center for Education Reform's website urges viewers to launch their own charter schools to compete with public schools. "You don't need a PhD or a teaching degree to start a school," the center's website advises. "Remember, you can do it now."

The most enduring campaign linked to the film may be the six-month "Breaking the Monopoly of Mediocrity" tour arranged by the Institute for a Competitive Workforce, an affiliate of the U.S. Chamber of Commerce.

Drawing on a $1.2 million grant from the Daniels Fund, the group plans to stage private screenings and discussion forums for business and civic leaders in cities from Memphis, Tennessee, to El Paso, Texas, to Trenton, New Jersey.

The American Federation of Teachers is countering with its own series of town hall meetings and workshops across the country designed to present teachers - and unions - as natural allies of parents seeking to better their schools.

(Reporting By Stephanie Simon; editing by Todd Eastham)

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n">(Reuters) - Ken Follett's "Winter of the World" debuted at the top spot on Publishers Weekly's bestseller list on Thursday.

The list is compiled using data from independent and chain bookstores, book wholesalers and independent distributors nationwide.

Hardcover Fiction Last Week

1. "Winter of the World" by Ken - (Follett Dutton, $36.00)

2. "A Wanted Man" by Lee Child 1 (Delacorte, $28.00)

3. "The Time Keeper" by Mitch Albom 2 (Hyperion, $24.99)

4. "Gone Girl" by Gillian Flynn 5 (Crown, $25.00)

5. "Low Pressure" by Sandra Brown - (Grand Central, $26.99)

6. "Zoo" by James Patterson/ Michael 4 Ledwidge (Little, Brown, $27.99)

7. "Severe Clear" by Stuart Woods - (Putnam, $26.95)

8. "Delusion in Death" by J.D. Robb 3 (Putnam, $27.95)

9. "The Tombs" by Clive Cussler 6 (Putnam, $27.95)

10. "Telegraph Avenue" by Michael 7 Chabon (Harper, $27.99)

Hardcover Nonfiction

1. "No Easy Day" by Mark Owen 1 (Dutton, $26.95)

2. "I Declare: 31 Promises to Speak" by - Joel Osteen (FaithWords, $21.99)

3. "The Price of Politics" by Bob 2 Woodward (Simon & Schuster, $30.00)

4. "Guinness World Records 2013" 4 (Guinness World Records)

5. "Divine Healing Hands" by Zhi Gang 3 Sha (Atria, $29.95)

6. "Joseph Anton: A Memoir" by Salman - Rushdie (Random House, $30.00)

7. "Killing Lincoln" by Bill O'Reilly & 7 Martin Dugard (Holt, $28.00)

8. "The Oath: The Obama White House" by - Jeffrey Toobin (Doubleday, $28.95)

9. "Free Market Revolution" by Brook/ - Watkins (Palgrave Macmillan, $27.00)

10. "Obama's America" by Dinesh D'Souza 5 (Regnery, $ 27.95)

Week ending Sept 23, 2012, powered by Nielsen BookScan (c) 2012 The Nielsen Company.

(Editing by Piya Sinha-Roy)

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Employees make circuit boards at an electronic component factory in Hefei, Anhui province May 2, 2012.

BEIJING | Sat Sep 29, 2012 12:34am EDT

BEIJING (Reuters) - China's economy has almost certainly suffered a seventh straight quarter of slowing growth, with a new private sector survey of factory managers revealing a near year-long decline in business activity and a fresh fall in export orders in September.

The HSBC China Manufacturing purchasing managers index (PMI) showed overall factory activity shrank for an 11th consecutive month in September, despite the 47.9 final index level being slightly ahead of a preliminary, or flash, estimate of 47.8 and the August reading of 47.6.

It extends the longest run of readings below 50 - which separates expansion from contraction - in the survey's 8-year history, with the need for more pro-growth government policies signaled by a fall in the output sub-index to its lowest since March and a slide in export orders to a 42-month trough.

"The sharper contraction of new export orders and the lingering pressures on job markets mean that Beijing should step up easing to support growth and employment," Qu Hongbin, chief China economist for survey sponsor HSBC, said in a statement.

Two cuts to interest rates, the easing of bank reserve requirements that freed about 1.2 trillion yuan ($190 billion) for lending and the approval of infrastructure projects worth more than $150 billion have so far failed to arrest the decline in China's overall economic growth.

"Fiscal measures should play a more important role in the coming months," Qu said.

Analysts expect 2012 to be China's weakest full year of growth since 1999 at just 7.7 percent, according a Reuters poll which forecasts annual growth of 7.4 percent in Q3, down from Q2's 7.6 percent.

The slide in the PMI's export orders sub-index to a three-and-a-half-year low of 44.9 is a crucial gauge for the accuracy of that call.

EXPORT SLIDE

Exports generated 31 percent of gross domestic product in 2011, according to World Bank data, and support an estimated 200 million jobs - around a quarter of the country's workforce.

Export growth this year is averaging around 7.8 percent versus 2011. August's growth slumped to 2.7 percent compared with a year ago and the Commerce Ministry sees a risk that things get worse in the months ahead - jeopardizing the official 10 percent target for expanding trade this year.

An adviser to China's central bank conceded on Thursday that Beijing policymakers had underestimated the severity of this year's global economic slowdown and said that further cuts to interest rates or reserve requirements would hinge on any new deterioration in the external environment.

China's exports have been hit hard by the festering sovereign debt crisis in the European Union, where a slide back towards recession has sapped demand in the single biggest foreign market for Chinese factory goods.

Analysts say the destocking it has triggered has dragged down industrial production growth and will ultimately show up when Q3 economic data is published in mid-October.

"We expect the data to show that demand remained weak, destocking continued and the recovery has yet to happen," said Tao Wang, China economist at UBS in Hong Kong.

"We forecast that industrial production growth slowed to about 8.6 percent year-on-year in September, while Q3 GDP growth slowed to 7.3 percent year-on-year," she wrote in a client note.

Tao believes the deterioration is so entrenched that GDP growth will slow to an annual rate of 7.0 percent in Q4 before rebounding through the course of 2013.

The consensus view is that Q3 is the nadir of this cycle and the HSBC PMI offers some sign that this may be the case, despite the index having consistently pointed to a more bearish economic backdrop this year than China's official PMI.

The official PMI is set to be released by the National Bureau of Statistics (NBS) on October 1 and analysts polled by Reuters expect it to have rebounded to 49.8 from August's 49.2.

A difference in samples and survey methodology largely explain the discrepancy. The NBS captures data from China's biggest firms - the dominant state-owned enterprises - while Markit, the UK-based data provider that compiles the survey sponsored by HSBC, tracks mainly smaller private sector firms.

SOME SIGNS OF STABILISATION

Markit said its survey detected some signs of stabilization in manufacturing activity in September as the rate of deterioration in the sector eased.

Backlogs of work remained steady for 77 percent of respondents, while only 13 percent reported a decrease.

And it said the rate of job cuts reported was relatively modest, with nearly 85 percent of survey respondents indicating no change in employment levels on the previous month.

Unemployment is a vital indicator for China's ruling Communist Party, which is acutely sensitive to anything that could trigger discontent in the run-up to its party congress - expected later this autumn - when a new generation of leaders will be named ahead of a once-a-decade handover of power.

The loss of millions of Chinese factory jobs in a matter of months in late 2008 as world trade ground to a halt during the depths of the global financial crisis triggered a massive 4 trillion yuan ($635 billion) stimulus package from Beijing.

The lack of job cuts so far and persistent signs of tightness in the labor market are cited by analysts as one reason for the government's reluctance to open the stimulus taps this time around, along with attendant inflationary and speculative risks that it could unleash.

Credit ratings agency Fitch said on Friday it had downgraded its 2012 growth forecast for China to 7.8 percent, from 8 percent previously, on a combination of slowing exports and efforts to squeeze speculative risks from the economy.

But it said it did not expect Beijing to deploy any more than marginal monetary and fiscal tools to boost growth, unless there was a sudden deterioration in the labor market.

"The resilience of the labor market seen in current data suggests growth of 7.5-8.0 percent may be in line with the economy's potential rate," Fitch said.

(Editing by Alex Richardson)

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Cast member Arnold Schwarzenegger poses at the premiere of ''The Expendables 2'' at the Grauman's Chinese theatre in Hollywood, California August 15, 2012. The movie opens in the U.S. on August 17.

LOS ANGELES | Fri Sep 28, 2012 2:29pm EDT

LOS ANGELES (Reuters) - Arnold Schwarzenegger, talking about his affair with a family housekeeper for the first time in a television interview, said it was "the stupidest thing" he did in his marriage to Maria Shriver and said it "inflicted tremendous pain" on his family.

In a "60 Minutes" interview with reporter Leslie Stahl due to air on September 30, Schwarzenegger admitted that he lied to Shriver about the affair. CBS released a clip of the interview on Friday.

"I think it was the stupidest thing I've done in the whole relationship. It was terrible. I inflicted tremendous pain on Maria and unbelievable pain on the kids," Schwarzenegger said.

Schwarzenegger, 65, had been quiet in public about his affair with their housekeeper Mildred Baena. He and Baena had a son, Joseph, who grew up not knowing Schwarzenegger was his father until the scandal made headlines last year.

After the revelations, Shriver and Schwarzenegger began proceedings to end their 25-year marriage. They have four children together.

The interview coincides with the October 1 release of Austrian-born Schwarzenegger's autobiography, "Total Recall: My Unbelievably True Life." He told Stahl that he was determined to write a book that included his "failures" as well as his successes in bodybuilding, film and politics.

Since his term as Republican governor ended, Schwarzenegger has returned to movies with "The Expendables 2" last August, and he has five more films in the pipeline. He also inaugurated a global policy think tank in his name at the University of Southern California's Los Angeles campus.

(Reporting By Piya Sinha-Roy)

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Traders work on the floor of the New York Stock Exchange, July 10, 2012.

NEW YORK | Sat Sep 29, 2012 4:17am EDT

NEW YORK (Reuters) - Wall Street will open October with a busy week, highlighted by low expectations for global manufacturing data and the U.S. jobs report, but that could set the stage for positive surprises that help lift the market.

The S&P 500 .INX.SPX finished its third positive quarter in the last four on Friday, despite suffering its largest weekly percentage decline since June. For the past three months, the S&P 500 gained 5.9 percent - its best third quarter since 2010. In contrast, the index was down 1.3 percent for the week.

The benchmark S&P 500 earlier this month reached its highest level since late 2007. Yet uncertainty remains over whether stocks can hold their gains against the headwinds of a struggling economy. That explains, in part, the retreat over the last several days.

The S&P 500 hit a high of 1,474.51 in mid-September before pulling back by a bit more than 2 percent. A run at 1,500 seems possible, but the flurry of economic and world events ahead probably will prevent a major advance in the coming week.

Bulls are betting this week's Spanish budget proposals will be a preamble to a bailout request by Mariano Rajoy's government. The move would be seen as a first step to get the finances of the euro zone's fourth-largest economy in order and would clear some of the market uncertainty regarding the euro zone crisis.

Monetary policy is also on the list of market catalysts next week. Federal Reserve Chairman Ben Bernanke is scheduled to speak on Monday and the minutes of the latest FOMC meeting are set for release later in the week. The week's agenda includes meetings of the European Central Bank, the Bank of England and the Bank of Japan.

"I think we could see a rebound next week if we get some of the stars aligning and have Spain ask for a bailout, the ECB announcing favorable terms for that bailout, and if we see the Bank of Japan announce further monetary intervention," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.

"If Spain and the ECB don't deliver, we could set ourselves up for a further lateral move in the markets. A negative would be if Rajoy flat-out denies that they need a bailout."

The ECB and BOJ are set to meet on Thursday, with the Bank of Japan's meeting extending until Friday.

FACTORIES, JOBS AND THE DEBATES

Chinese factory and business conditions data will kick off a numbers-heavy calendar for markets. Manufacturing PMI, due on Monday, is expected to show a second straight month of contraction.

A snapshot of U.S. manufacturing activity will be provided on Monday when the Institute for Supply Management releases its September index. The September ISM reading is expected to show another month of contraction, but at a slightly slower pace than in August. On Wednesday, the ISM will release its U.S. services-sector Purchasing Managers' Index, which could show a slight deceleration in the pace of growth in the non-manufacturing sector.

"We have Chinese economic data over the weekend, and we'll see how markets react on Monday," said Wasif Latif, vice president of equity investments at San Antonio, Texas-based USAA Investment Management.

"It seems like the market is bracing for bad numbers, meaning if they're not as bad, it could be market-positive," Latif said.

Non-farm payrolls for September, due on Friday, are seen up 115,000, while the U.S. unemployment rate is seen ticking up 0.1 percent from August to 8.2 percent in September.

The jobs data will come on the heels of the first of three U.S. presidential debates, scheduled for Wednesday night. Recent poll numbers point to a strengthening lead by President Barack Obama, but a weak payrolls reading could give some hope to Republican challenger Mitt Romney.

"If Romney doesn't turn the ship with a very strong (debate)performance, the president is going to win," said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.

He said the trend in the polls has taken away some of the market uncertainty regarding the presidential election. He added that an ECB- or Spain-related headline out of Europe on Thursday could overcome almost anything that would happen Wednesday night during the debate.

"I think the market is coming to terms with the fact the president is ahead, and unless something significant changes, (he) will prevail."

(Wall Street Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Editing by Jan Paschal)

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Rebel Wilson arrives for a premiere at the Sundance Film Festival in Park City, Utah, in this January 23, 2012 file photo.

LOS ANGELES | Fri Sep 28, 2012 3:06pm EDT

LOS ANGELES (Reuters) - Playing a character called Fat Amy is probably not the dream of most Hollywood actresses but Australian comedienne Rebel Wilson enjoys breaking the rules - and she's not about to stop eating dessert.

After several small but memorable roles in films such as "Bridesmaids" and "Bachelorette," the 27-year-old Wilson looks poised to make it big in the musical film "Pitch Perfect," which opens in U.S. movie theaters on Friday.

The film, about an all-girls college singing group competing against male rivals, has an ensemble cast that includes Anna Kendrick, Brittany Snow and R&B singer Ester Dean.

But it is Wilson who steals the show with wild antics and improvised one-liners as singer Fat Amy, a cardio-averse, over-confident member of acapella group The Bellas.

Variety's review said the "picture belongs to Wilson," adding that the actress "fearlessly steps into yet another part that pokes fun at her figure, and happily reveals an outsized singing voice and hilarious dance moves to match."

Boxoffice Magazine wrote that Fat Amy "is the role that will turn her into a star," pointing out that Wilson is "hilariously, thrillingly crude" and "could very easily gobble up the film if she weren't such a generous ensemble performer."

Wilson has no qualms about making fun of her own figure.

"In comedy, you've got to use what you've got," Wilson told Reuters. "I'm not a size two, so of course I'm going to use that physicality to my advantage."

Weight maybe be a factor in her newfound Hollywood career but she is conscious about staying healthy.

"You need to have a lot of stamina to do this (job,)" she points out. "I try to be healthy. I train three days a week with a trainer. But I do like to eat, clearly. And I do eat dessert every day. If I cut that out, yes, I would lose weight."

At the moment, however, she has no plans to cut anything out and is enjoying breaking down barriers.

She recently finished shooting action comedy "Pain and Gain" directed by Michael Bay, a filmmaker known for working with models and directing commercials for Victoria's Secret.

"Guess what I wear in the movie? Victoria's Secret underwear - that's all I'm dressed in," said Wilson.

"I know I'm not the physical body type that he usually casts, but for some reason he likes me and thinks I'm funny, so maybe I'm changing his mind," she said of the director.

HALLUCINATION

Wilson's physical stature was never something she thought would be a factor when it came to her career because she did not set out to be an actress.

She graduated from the University of New South Wales with a law degree and was a Rotary International youth ambassador for Australia, stationed in South Africa. While there, she contracted malaria, an event she called "life-changing."

"When I was in the hospital in intensive care, I had this hallucination that I was an actress and that I was really, really good, and that I won an Oscar," Wilson recalled.

She decided to make a career change. Unable to find acting work or an agent, she wrote and starred in her own play, "The Westie Monologues," which became a huge success in Sydney.

That led to professional work on Australian television shows and she eventually came to the United States. Last year's comedy hit "Bridesmaids" - in which she played Kristen Wiig's slacker, diary-reading roommate - put her instantly on the map.

"That really set the bar high," Wilson admitted. "I got a lot of movies off the back of that."

She'll soon be getting more exposure in the TV comedy "Super Fun Night," which was picked up by ABC this month. In yet another sign that she's not just another Hollywood actress, she wrote the script for herself to star in.

(Reporting By Zorianna Kit, editing by Jill Serjeant and Claudia Parsons)

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Traders work on the floor of the New York Stock Exchange, September 20, 2012.

NEW YORK | Thu Sep 27, 2012 4:44pm EDT

NEW YORK (Reuters) - The S&P 500 snapped a five-day string of declines in a broad-based rally on Thursday, as Spain's plans for economic reform eased some worries about one of the euro zone's most troubled countries.

The benchmark S&P 500 rose 1 percent, its biggest percentage gain since the Federal Reserve announced its plan for a third round of stimulus on September 13.

Spain announced a detailed timetable for economic reforms for the fiscally troubled nation and a tough 2013 budget based mostly on spending cuts.

"Any information that gives some understanding about what's going to happen is good for the market. It's small news, but more certainty is good," said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

The EU's Economic and Monetary Affairs Commissioner, Olli Rehn, said Spain's detailed timetable for economic reforms goes beyond what the European Commission has asked of Spain. Rehn said it is an ambitious step forward.

Gold stocks ranked among the day's bigger gainers in the wake of Spain's news; the PHLX gold/silver index .XAU jumped 3 percent.

Adding to the rally was a last-minute push by investors to reposition portfolios ahead of the quarter's end, with the S&P 500 on track for a gain of 6.2 percent in the third quarter. Friday will be the quarter's last trading day.

"What we've seen is broadly a consolidation, but also an attempt by fund managers to position properly for the rest of the year, to be in the best sectors," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

The Dow Jones industrial average .DJI shot up 72.46 points, or 0.54 percent, to 13,485.97 at the close. The Standard & Poor's 500 Index .SPX rose 13.83 points, or 0.96 percent, to finish at 1,447.15. The Nasdaq Composite Index .IXIC gained 42.90 points, or 1.39 percent, to close at 3,136.60.

While the Nasdaq led Thursday's gains, it also led the market's declines earlier this week - its volatility possibly reflecting investors' nervousness about the U.S. economic outlook, analysts said.

Apple (AAPL.O), up 2.4 percent at $681.32, gave the biggest lift to the Nasdaq. The semiconductor index .SOX gained 2.3 percent, bolstering the Nasdaq 100 .NDX. Intel Corp (INTC.O) was up 1.9 percent at $23.09.

After the bell, U.S.-listed shares of Research In Motion (RIMM.O) surged 15 percent to $8.21 after the Canadian maker of the BlackBerry reported a smaller-than-expected quarterly loss.

On the deal-making front, Tempur-Pedic International Inc (TPX.N) agreed to buy rival mattress maker Sealy Corp (ZZ.N) for about $242 million and assume about $750 million in debt. Tempur-Pedic shares jumped 14.4 percent to $30.64, while Sealy's stock rose 2.3 percent to $2.19.

In the earnings realm, Discover Financial Services (DFS.N) reported third-quarter earnings that beat expectations - and its shares climbed 7.3 percent to $39.71.

Stocks were rising before Spain's announcement on hopes that China would take steps to spur its slowing economy.

China has severely underestimated this year's global economic slowdown, and further cuts to Chinese interest rates or bank reserve requirements will hinge on any new deterioration in the external environment, a central bank adviser said on Thursday.

U.S. economic data was mixed. A report showed initial jobless claims dropped by 23,000 to 359,000, sharply exceeding the decline of 4,000 that had been expected.

But the final read on second-quarter gross domestic product showed growth of just 1.3 percent, weaker than an expected 1.7 percent. And August durable goods orders tumbled 13.2 percent, much more than the expected drop of 5 percent.

Volume was below average at roughly 5.74 billion shares traded on the New York Stock Exchange, the Nasdaq and the Amex, compared with the year-to-date average daily closing volume of 6.53 billion.

Advancers outnumbered decliners on the NYSE by a ratio of slightly more than 3 to 1,and on the Nasdaq, about three stocks rose for every one that fell.

(Editing by Jan Paschal)

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A ''for sale'' sign is seen outside a home in New York June 19, 2012.

WASHINGTON | Thu Sep 27, 2012 10:09am EDT

WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes slipped in August due to a shortage of lower priced inventory in most of the country, an industry group said on Thursday.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in August, fell 2.6 percent to 99.2, but was 10.7 percent higher than last year.

July's reading was revised up to 101.9, the highest level since April 2010, when buyers were racing to use the home-buyer tax credit before the deadline, the group said.

"The performance in month-to-month contract signings has been uneven with ongoing shortages of lower priced inventory in much of the country," the association's chief economist, Lawrence Yun, said in a statement.

(Reporting by Rachelle Younglai; Editing by Neil Stempleman)

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