Sony's 'The Interview' makes $18 million in opening weekend

Sony Pictures (6758.T) said "The Interview" has earned more than $15 million in online sales and another $2.8 million in theaters, an impressive return made possible by the publicity surrounding the cyberattack blamed on North Korea.

The raunchy comedy that depicts the assassination of North Korean leader Kim Jong Un made almost as much money through online distribution and in limited theaters in its opening weekend as it would have in a wide release that was shelved after threats from hackers.

The studio said on Sunday the film had been purchased or rented online more than 2 million times on the four days through Saturday, making it Sony Pictures' No. 1 online movie of all time.

Britain posts 41 million wills, including Princess Diana’s

LONDON: Some 41 million British wills dating back to 1858, including those of Winston Churchill and Princess Diana, were made available in an online database Saturday.

The government´s full archive of wills from England and Wales, stretching back more than 150 years, has been put on the probatesearch.service.gov.uk website.

It includes the wills of World War II prime minister Churchill; novelist Charles Dickens; Diana, princess of Wales; children´s writer A. A. Milne; code-breaker Alan Turing; writer George Orwell and author Beatrix Potter.

The digital copies of the wills cost £10 ($15.50, 12.75 euros) but basic details for some of them are available online.

"This fascinating project provides us with insights into the ordinary and extraordinary people who helped shape this country, and the rest of the world," said Courts Minister Shailesh Vara.

"It is a fantastic resource not only for family historians but also for anyone with an interest in social history or famous figures."

Previously the archives had only been publicly available to search in person.

In Churchill´s will he gave £304,044 -- worth more than £5.1 million nowadays -- to his family.

When Dickens died in 1870 he left a will written in cursive script that laid out highly specific directions for his funeral.

Asian shares mostly up after Christmas break

HONG KONG: Asian markets mostly rose Monday on the first full day of trade after the Christmas break, with confidence boosted by Chinese easing measures and another Wall Street record.

Shares in AirAsia tumbled after one of the budget carrier´s jets went missing with 162 people on board Sunday and had still not been found early Monday.

Tokyo added 0.31 percent, Hong Kong jumped 1.48 percent, Sydney rose 1.01 percent and Seoul lost 0.51 percent while Shanghai rallied 1.26 percent.

With most bourses were closed at the end of last week, Monday was the first time dealers were able to react to the positive news out of the United States and China.

On Wall Street Friday Dow notched its seventh straight gain, advancing 0.13 percent to another record, while the S&P 500 jumped 0.33 percent, also a hitting an all-time high following news that the US economy grew five percent in July-September. The Nasdaq gained 0.70 percent.

The rate was the best in 11 years and is yet another indicator showing the world´s number one economy is well on the recovery track.

It will also add to calls for the Federal Reserve to hike interest rates next year, boosting the dollar against the yen.

In early Tokyo trade the greenback was at 120.48 yen, compared with 120.37 in New York Friday.

The euro bought $1.2183 and 146.80 yen, against $1.2179 and 146.59 yen.

Adding to buying confidence is news that China´s State Council late Wednesday announced preferential policies for manufacturers, including a promise to extend financial support, especially to large-scale equipment makers, to expand their exports.

The move is the latest by Beijing to kickstart the Chinese economy, which has been hit by a slew of weak data, including on exports, manufacturing consumer spending and INVESTMENT.

Kuala Lumpur-listed shares in AirAsia shed 12 percent at one point on news that a plane from its Indonesian affiliate went down in the Java Sea Sunday morning.

However, they recovered slightly to sit 7.5 percent lower in late morning trade as search and rescue operations resumed.

Oil prices rose after fresh violence erupted in Libya. US benchmark West Texas Intermediate for February delivery gained 73 cents to $55.46 while Brent crude for February was up 55 cents to $60.00.

Forces loyal to Libya´s internationally recognised government on Sunday carried out air strikes against militia following attacks on the country´s crucial Al-Sidra oil export terminal.

The Fajr Libya group has been been trying to take Al-Sidra and the nearby Ras Lanuf terminal since Thursday.

Seven oil storage tanks at Al-Sidra were set on fire as a result of the fighting.

Since fresh clashes first erupted around the export terminals on December 13, Libya´s oil production has dropped to fewer than 350,000 barrels per day compared with 800,000 previously, industry experts say.

Gold was at $1,194.56 an ounce, compared with $1,196.96 Friday. (AFP)

 

Child abuse inquiry: Survivors want new panel and extra powers

Dozens of child abuse survivors have urged the government to scrap an inquiry into historical abuse and replace it with a more powerful body.

The call comes after a leaked letter from Theresa May told inquiry members their panel might be disbanded.

Peter Saunders, from National Association for People Abused in Childhood, said the move would be supported by the majority of survivors.

Labour's Simon Danczuk said the inquiry so far had been an "utter mess".

Mr Danczuk, who exposed child sex abuse allegations against former Liberal MP Cyril Smith, told BBC Radio 4's Today programme that survivors would be "dismayed" by the progress of the inquiry - which was set up in July and has started work, but has no chairman.

'Very good people'

He later told BBC Radio 5 live: "It is verging on a disgrace in terms of how government, how Theresa May, and how Home Office officials have organised or failed to organise this particular enquiry."

Mr Saunders said he had not met any survivors who had any confidence in the process and the panel, "as it is currently constituted".

"There are some very good people on that panel as it stands at the moment, but there are one or two characters who sadly have an association with the past that would make them inappropriate," he said.

He added that if the panel was disbanded it would not "take us back to square one", and argued that getting the inquiry set up correctly would win the support of survivors.

But former children's minister and Tory MP Tim Loughton told BBC Radio 4's Today programme that all the survivors he had met wanted to get the inquiry going, and he did not accept that disbanding the panel was the will of the majority.

Peter Saunders: "Theresa May has my and many other people's backing"

In the letter to Home Secretary Theresa May from survivors, survivors' groups and associated professionals, they call for a new inquiry with the power to "compel witnesses to give evidence under oath".

It is "essential" the inquiry has these legal powers to "prevent evidence being withheld or tampered with", they say.

The letter also says they would welcome a "dedicated police team to take evidence alongside the inquiry and investigate and prosecute offenders".

They say this would "increase confidence", adding it is "essential" those conducting the inquiry "are free from strong links to prominent establishment figures or any other potential conflict of interest".

The letter also calls for the terms of reference of the inquiry to be extended to include allegations of historical abuse dating back as far as 1945, rather than 1970 as is presently the case.

One of the people who signed the letter was abuse survivor and campaigner Ian McFayden. He said the government only had "one chance" to get an inquiry like this right, and it needed to have teeth.

Lib Dem MP Tessa Munt, who has revealed that she suffered from child abuse herself, also agreed the inquiry needed greater powers, and people should be compelled to give evidence under oath.

Mrs May's first two choices to be the inquiry's chairperson both stood down amid claims they had close links with establishment figures.

The inquiry, sparked by claims of paedophiles operating in Westminster in the 1980s, will investigate whether "public bodies and other non-state institutions have taken seriously their duty of care to protect children from sexual abuse in England and Wales".

Tesco accounts face fresh inquiry

The Financial Reporting Council (FRC) has announced an inquiry into Tesco's accounts for 2012, 2013 and 2014.

The FRC is an independent disciplinary body for UK accountants and actuaries.

BBC business editor Kamal Ahmed says the FRC's investigation will include PwC's auditing and preparation of Tesco's accounts.

In September, Tesco said it had mis-stated its half-year profit guidance by £250m - a figure that was subsequently revised to £263m in October.

PwC, which remains Tesco's auditor, said in a statement: "We take our responsibilities very seriously and remain committed to delivering work to the highest professional standards. We will cooperate fully with the FRC in its inquiries."

And Tesco said: "We will provide support to the FRC's investigation."

Slump in profits

In December, Tesco said full-year profits would be well below market expectations.

Instead of the £1.8bn to £2.2bn expected by the markets, the supermarket chain said group trading profit for the full financial year "will not exceed £1.4bn".

Analysis: Kamal Ahmed, business editor

The announcement by the Financial Reporting Council that it is investigating Tesco's accounts will heap pressure on the beleaguered retailer. The Serious Fraud Office is already investigating allegations of accounting irregularities following the admission in September that Tesco had over-stated its profits by £263m.

The FRC's inquiry will be into PWC's auditing of Tesco's accounts as well as the preparation of those accounts. The fact that the inquiry will investigate three years of accounts will concern investors as it could reveal further evidence that the problems go back further than initially thought.

The FRC's arsenal if any wrongdoing is found is formidable. It can impose unlimited fines on PWC; it can demand unlimited costs; and it can strike off any individual found to have behaved improperly.

The fact that the FRC's investigation is likely to take at least a year (and the SFO inquiry could take two years) means that Tesco will be dealing with its accounting problems until at least 2016.

In October, Tesco reported that underlying profits for the first half of its financial year slumped to £783m, down almost 47% on the previous year.

The company's share price has fallen nearly 45% over the last year as the accounting scandal and falling sales have disappointed investors.

The scandal, which is being investigated by the Serious Fraud Office, saw eight executives suspended - one of whom has been reinstated while others have since left the company.

And chairman Sir Richard Broadbent has announced he is to step down.

An investigation by accountancy firm Deloitte found that rebates from suppliers had been moved to different periods on the company's balance sheet, and that this practice went at least as far back as Tesco's 2012/13 accounting period.

South Korea downgrades growth forecasts

Asia's fourth largest economy, South Korea, has cut its growth forecast, for this year and next, as consumer and business sentiment weakens.

The Ministry of Strategy and Finance said on Monday the economy would now grow by 3.4% this year, down from the 3.7% it forecast in July.

Growth in 2015 was also downgraded to 3.8% from 4% predicted earlier.

The government said private INVESTMENT and consumer spending were coming out weaker than it had expected.

South Korea's economy expanded by 3% last year.

The forecast downgrade shows the challenges facing the economy despite government measures such as the central bank cutting interest rates twice this year to boost growth.

Government boost

The ministry said it does expect conditions to improve in 2015 on falling oil prices and more stimulus measures.

It forecasts domestic consumption to rise to 3% on an annual basis next year, which would be the highest since 2011.

The government is planning to introduce measures to boost wages and encourage businesses to create jobs and increase INVESTMENT

Q&A with Ashoka’s Maria Escorcia: Boosting Entrepreneurship for Social Change

Changemakers can come from anywhere, including the corporate world. Just look at Maria Escorcia, director of the South Florida chapter of Ashoka, a nonprofit that supports a network of 3,000 social entrepreneurs around the world.

Escorcia spent six years managing a corporate social responsibility program for a large Colombian multinational corporation. During her first three years, she was based in Bogotá and was responsible for the company’s community relations and implementing social impact projects where the company operated. She designed and led a project that aimed to eradicate child labor in rural mining areas, for instance. As a result, she was invited to participate as one of the first private sector representatives in the government-led Colombian Forum of Child Labor Eradication.

During the company’s expansion in Latin America, she was offered the opportunity to create a corporate foundation in the newly acquired plant in Cabaret, Haiti. “I arrived to the island in January 2009 and stayed until late 2011, which gave me a glimpse of the country before, during and after the 2010 earthquake. The foundation I established in early 2009 played an active role in the relief and reconstruction efforts after the earthquake,” she said.

After that, Escorcia learned about Ashoka while working on her master’s degree in international development at the University of Pittsburgh. Ashoka’s founder and CEO, Bill Drayton, was receiving an award and gave a keynote speech