4C - The Ridgway Record – The Daily Press, – The Kane Republican, Friday, July 24, 2015 Japan's Nikkei lands Financial Times in $1.3B deal


LONDON (AP) — Japanese me- dia company Nikkei Inc. is buying the Financial Times as part of an 844 million-pound ($1.3 billion) deal with Britain's Pearson PLC. The deal announced Thursday is part of Nikkei's strategy to boost its global reach and also allows Pearson to concentrate on its core global edu- cation business.


John Fallon, chief executive of Pearson, said the company has been a proud proprietor of the Financial Times for nearly 60 years, but the rapidly changing media landscape meant it's time for the salmon-col- ored business daily to change hands. "We've reached an inflection point in media, driven by the explosive growth of mobile and social," he said in a statement. "In this new envi- ronment, the best way to ensure the FT's journalistic and commercial success is for it to be part of a global, digital news company."


As part of the deal, Pearson has agreed to sell the vast majority of the assets in FT Group, including the Financial Times newspaper and the popular FT.com. However, Pear- son will retain its 50 percent stake in The Economist Group as well as the FT's London headquarters on the banks of the Thames River. The sale of the Financial Times has been rumored for some time but the identity of its potential buyer proved something of a surprise. The paper has always been British-


owned.


"Nikkei had not been viewed as one of the primary contenders," said Chris Beauchamp, senior market analyst at IG.


It's a bold move for Nikkei, the largest independent business media group in Asia. Its core business is newspaper publishing, and its flag- ship paper, The Nikkei, has about 3 million subscribers.


The deal would be one of the larg- est-ever acquisitions by a Japanese media company, according to Nikkei Asian Review, one of the company's outlets.


"By sharing personnel, knowledge and their long histories, the compa- nies aim to become an unprecedent- ed global economic media player," the Nikkei Asian Review said. Digital business news will con- tinue to be a main focus for the FT under Nikkei, the report added. Dig- ital subscription now accounts for 70 percent of the paper's total circula- tion base.


The FT and Nikkei have a com-


bined digital subscription of almost 1 million.


Pearson, a leading international education products and services company, acquired the Financial Times in 1957. Fallon, its chief exec- utive, told reporters Thursday that the FT should now switch to a com- pany completely focused on news in order to build on its brand and influ- ence.


— States could no longer require labels on geneti- cally modified foods un- der legislation the House is considering.


The legislation sched- uled for a vote Thursday in the House is backed by the food industry, which has fought state labeling efforts around the coun- try. So far, Vermont is the only state set to require the labels.


The country's largest food companies say genet- ically modified foods are safe and that labels would be misleading. They say a patchwork of laws around the country would make things expensive for com- panies and confusing for consumers.


"The reality is, biotech- nology has time and time again proved safe," the bill's sponsor, Kansas Re- publican Rep. Mike Pom- peo, said as debate began. "We should not raise pric- es on consumers based on the wishes of a handful of activists."


Advocates for the labels say people have a right to know what is in their food and criticize House Republicans for trying to take away states' ability to require the labels. Five things to know about the House bill: ___


It would derail Vermont's law


Vermont passed a law last year that requires labeling foods that con- tain genetically modified organisms, or GMOs. It will take effect in July 2016 if it survives a legal challenge from the food


industry. The bill would void Vermont's law and prevent other states from enacting laws like it. Maine and Connecticut


have also passed laws re- quiring the labeling, but those measures don't take effect unless neighboring states follow suit.


The House bill would make it harder for the Food and Drug Adminis- tration to require label- ing of modified foods na- tionally.


The agency has already said it won't require la- beling and that GMO foods are safe.


Genetically modified seeds are engineered in laboratories to have cer- tain traits, like resistance to herbicides. The major- ity of the country's corn and soybean crop is now genetically modified, with much of that going to ani- mal feed. It also is made into popular processed food ingredients like high-fructose corn syrup, corn starch and soybean oil.


___


It would create new, voluntary labels The House bill would create a new certification process at the Agriculture Department for foods that are labeled free of GMOs. That would mean anyone wanting to use that label would eventually have to apply.


Organic foods would be automatically certified, since they are already re- quired to be free of engi- neered ingredients. The voluntary labeling program has bipartisan support. Rep. Chellie Pin-


John Ridding, CEO of the FT, agreed, adding the deal's editorial impact was something managers had thought "long and hard and carefully about."


Ridding said he was confident Nikkei "really walk the talk of edito- rial independence."


The FT Group, including the Economist stake, contributed 334 million pounds in sales and 24 mil- lion pounds in operating income to Pearson in 2014.


Nikkei, founded in 1876, also op- erates media businesses including books and magazines, digital media, database services and broadcasting. In 2013 the company re-launched its English-language outlet, Nikkei Asian Review, online and in print as part of a strategy to expand its cov- erage from Japan to Asia.


Nikkei bought a minority stake in Britain-based Monocle magazine in 2014, and it also has partnerships with international media firms in- cluding Le Monde and Forbes. Nikkei Chairman and CEO Tsu- neo Kita says he is "extremely proud" to team with the FT. "Our motto of providing high- quality reporting on economic and other news, while maintaining fair- ness and impartiality, is very close to that of the FT," he said. "We share the same journalistic values." The deal is subject to regulatory approvals and is expected to close before the end of the year.


5 things: House bill would prevent mandatory GMO food labeling WASHINGTON (AP)


gree, a Maine Democrat who is also an organic farmer, strongly supports mandatory labeling but says the certification pro- gram would at least en- sure that foods currently labeled as free of GMOs are held to a uniform standard.


___


It would result in stepped-up FDA oversight


The FDA has a safety review process for GMO crops, but it isn't manda- tory. The bill would re- quire that new genetically modified foods go through that safety process before they can be sold.


It would also require the FDA to issue rules on how the word "natural" can be used on food pack- ages and prevent states from enacting any similar laws.


___


The public supports labeling


A December Associated Press-GfK poll found that two-thirds of Americans support labeling of ge- netically modified ingre- dients on food packages. Many of those who sup- port the labels say they have no problem buying food containing GMOs, but they think there should be more account- ability in the food indus- try.


Rep. Jim McGovern, D- Mass., said Wednesday in a speech opposing the bill that he eats GMOs but thinks it should be a choice.


Michael Gruber of the Grocery Manufacturers of America, the indus-


try group leading the fight against mandatory labels, says those who want the labels are try- ing to scare people away from genetically modi- fied foods. "This is to tear down brands in the name of right to know," Gruber said.


The food industry says about 75 percent to 80 percent of packaged foods contain genetically modi- fied ingredients. ___


Its prospects are uncertain


There is no similar bill in the Senate, although Sen. John Hoeven, R- N.D., has said he is work- ing on legislation.


It's unclear whether President Barack Obama would sign a bill. Agricul- ture Secretary Tom Vil- sack has been supportive of genetically modified crops and has praised vol- untary labeling solutions like special bar codes on packages to allow con- sumers to access infor- mation via smartphone. But the White House has so far been silent on the House bill.


Opponents of the bill


are working to stop the legislation after expected House passage.


Many environmental and consumer groups are using the issue to raise money.


"More than ever, con- sumers want to know what's in their food, but this dishonest bill takes us in the wrong direc- tion," celebrity chef Tom Colicchio wrote in a pitch for Environmental Work- ing Group.


Milwaukee man shoots dog, mistaking it for reported lion lion sightings.


MILWAUKEE (AP) — A man who thought he spot- ted a lion that people have reported seeing wander- ing on Milwaukee's north side, has shot and injured a large pit bull. Police say the dog, which


FDETROIT ROM PAGE 1C


codes are in Detroit, ac- cording to an industry ranking. Some motorists pay more for auto insur- ance than for rent. And many people who wouldn't think of going without health insurance or life in- surance regularly take the risk when they drive. "I just do what I have to do," said Jean Ford, 56, who let her $285 per month policy lapse in May because it took too much of the $1,400 per month she gets in disability and Social Security. "I get my daughter to drive me to the grocery and to doctor appointments. But when she can't, I have to drive


myself." where


com.


Ford lives in an area an unmarried


40-year-old man with a clean driving record and good credit pays about $4,700 for full coverage. Detroit's highest annu- al rate reaches $5,100 in a zip code where the median household income is about $29,000 and nearly 36 per- cent of residents are below the poverty level.


By comparison, the in- surance rate in one zip code in Brooklyn, New York, is $3,900, in Los An- geles about $2,400 and in Miami nearly $2,250, ac- cording to a study commis- sioned by CarInsurance.


Nationally, the average annual cost of insurance was $815 in 2012, the most recent year for which figures were available. Driving without insur-


ance is usually a secondary offense discovered when a motorist is stopped for an- other violation or involved in an accident. Penalties in Detroit can include fines of almost $700 and a suspended license. Every day, city Judge Cylenthia LaToye Miller sees plenty of people with steady jobs and middle- class lifestyles get tickets for driving without cover- age.


"It's often mothers and fathers trying to get their child to school and pick- ing them up from day- care," she said. "Getting to work is the biggest thing. I don't like the term 'driving dirty,' but it's something people understand. That's how they feel."


Michigan is one of 12 states in which a driver's car insurance covers inju- ries and medical bills no matter who caused the crash, according to Ca- rInsurance.com. All other no-fault states have driv- ers choose a limit to their personal-injury coverage. Under Duggan's D- Insurance plan, drivers


could save up to $2,300 annually. The city would seek bids from auto insur- ance companies to pro- vide at least $25,000 for medical care and cap cat- astrophic coverage at an additional $250,000. Costs beyond that level would be the responsibility of a driver's health insurer. The mayor argues that the changes would also bring more drivers into the system, which would help lower insurance rates even more.


At the Detroit Medical


Center, Chief Administra- tion Officer Conrad Mal- lett said limiting medical care for people who suffer


catastrophic injuries is not "a path to lower auto rates in Detroit or anywhere in Michigan."


The proposal needs to be approved by Gov. Rick Snyder and the Michigan Legislature. Lawmak- ers have been skeptical that they could limit the changes to Detroit with- out alienating drivers elsewhere in Michigan who also pay high insur- ance rates.


But for many motorists like Ford, the mayor's idea would still be better than nothing. The current cost of insurance, she said, is "making me break the law."


was shot Tuesday night, is being cared for at the Mil- waukee Area Domestic An- imal Control Commission. The organization's direc- tor Karen Sparapani says people might be "amped up or afraid" by the reports of


lion sightings. The pit bull suffered a gunshot wound to the right front leg. Officers say the man who shot the dog has not been identified. Milwaukee


police say they have investigated


about two dozen calls of apparent


No animal has been found. Police Chief Edward Flynn has said his officers were given cellphone video of an animal that appeared to be a "lion-ish creature."


FSYSTEM still be active.


ROM PAGE 1C Thursday.


Planet 452b takes 385 days to orbit its star, just a little more than Earth takes for a one-year lap. It's just a bit farther from its star than Earth is from our sun. That's important because it makes the plan- et ripe, potentially, for liq- uid water on the surface. And water could mean life. The planet is in a solar system that is 1,400 light years from our own, lo- cated in the Constellation Cygnus, or swan.


"So pack your bags, it's a long trip," joked Jenkins. Planet 452b is among more than 500 new entries listed in the Kepler team's latest catalog of exoplan- et candidates released


Kepler identifies poten-


tial planets by looking for periodic blips against the brightness of stars — some 150,000 stars to be exact. Of those 500-plus new potential planets, 12 are less than twice Earth's diameter and also orbit- ing in the so-called habit- able zone of their star, also known as the just-right Goldilocks zone. Kepler 452b is the first of those 12 to be confirmed as a true planet, thanks to ground observations. Altogether, the catalog now includes 4,696 exo- planet candidates. Slight- ly more than 1,000 of them — 1,030 — are confirmed to be planets.


Stuck in Manila, Chris Brown pleads, 'please, let us leave'


MANILA, Philippines (AP) — In a profanity-laced video, Grammy award-win- ning singer Chris Brown vented his frustration Thursday at being stuck in the Philippines for a second day after running afoul of a politically powerful re- ligious group that filed a fraud complaint against him for a cancelled concert. Brown was still in the country Thursday evening and had not applied for the emigration clearance he needs to leave Manila, Im- migration Bureau spokes- woman Elaine Tan said in a text message to the AP. The


26-year-old R&B


singer performed at a packed concert in Manila on Tuesday but has been pre- vented from leaving since then.


In videos posted on In- stagram, Brown clowns around, asking, "Can some- body please tell me what the (expletive) is going on?" "I don't know, I'm reading headlines after headlines, what the (expletive)!" he added, smiling as his com- panions laugh in the back- ground while sprawled on sofas.


In another video, Brown says when he gets to cus- toms, he will say he did nothing wrong. He then breaks into dance as people laugh.


The expletive-laden vid-


eo appeared to have been removed from Brown's Ins- tagram account Thursday. A


new video posted


around midnight showed Brown kneeling on the same patterned carpet as be- fore and pleading, "Please, please, let us leave, please," then doing a back flip. The clip's caption seemed to be a mock appeal to President Barack Obama.


The dispute traces back to last New Year's Eve when Brown canceled a concert at the 55,000-seat Philip- pine Arena north of Manila, which is operated by a cor- poration owned by the po- litically influential Iglesia ni Cristo religious group. The 101-year-old group is believed to have more than a million members both in the Philippines and abroad and is known to vote as a bloc in a nation where poli- ticians often seek endorse- ments from church leaders. The organizers said they were told at that time by Brown's representative that the singer lost his passport and could not make it to the


concert.


In a complaint, the Ma- ligaya Development Corp. says Brown and his Canadi- an promoter, John Michael Pio Roda, backed out of the concert after they were paid in full for a $1 million con- tract.


MDC promoted the con-


cert and sold tickets based on the guarantee that Brown would perform, the complaint alleged.


The religious group filed a formal complaint with a prosecutor at the Depart- ment of Justice, a prelimi- nary step before the filing of charges in court.


Brown was being delayed while immigration officials consulted with the Justice Department about the case, Tan said. A concert scheduled in Hong Kong for Wednesday was rescheduled to Thurs- day. A club manager who did not want to be named said late Thursday eve- ning that the concert was being rescheduled again but the date was uncertain until they heard back from Brown's representatives. Another concert, sched-


uled for Saturday in Jakar- ta, Indonesia, was cancelled due to safety concerns, ac- cording to Brown's Twitter account. An Indonesian promoter,


Trilogy Live, said it looked forward to having Brown come to Jakarta later and that tickets would be re- funded.


Another promoter, E- Motion Entertainment, told reporters that one reason for the cancelation was the recent unrest in Tolikara district of Papua province. Last week, a mob at- tacked Muslims marking the end of Ramadan and a mosque and several Mus- lim-owned stores went up in flames, allegedly after a meeting of Christian lead- ers was disrupted by the volume of the mosque's loudspeakers. Soldiers and police stopped the angry mob, wounding 12 people with warning shots.


Papua is Indonesia's easternmost province, far from the capital, but the violence angered many Muslims. Security was the main concern of Brown's management, said Rangga Ibiza from E-Motion Enter- tainment. "No matter how small the security issue is ..., it would influence their decision to hold the con- cert."


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