FDA approves new targeted breast cancer drug

WASHINGTON (AP) — The Food and Drug Administration has approved a first-of-a-kind breast cancer medication that targets tumor cells while sparing healthy ones.

The drug Kadcyla from Roche combines the established drug Herceptin with a powerful chemotherapy drug and a third chemical linking the medicines together. The chemical keeps the cocktail intact until it binds to a cancer cell, delivering a potent dose of anti-tumor poison.

Cancer researchers say the drug is an important step forward because it delivers more medication while reducing the unpleasant side effects of chemotherapy.

"This antibody goes seeking out the tumor cells, gets internalized and then explodes them from within. So it's very kind and gentle on the patients — there's no hair loss, no nausea, no vomiting," said Dr. Melody Cobleigh of Rush University Medical Center. "It's a revolutionary way of treating cancer."

Cobleigh helped conduct the key studies of the drug at the Chicago facility.

The FDA approved the new treatment for about 20 percent of breast cancer patients with a form of the disease that is typically more aggressive and less responsive to hormone therapy. These patients have tumors that overproduce a protein known as HER-2. Breast cancer is the second most deadly form of cancer in U.S. women, and is expected to kill more than 39,000 Americans this year, according to the National Cancer Institute.

The approval will help Roche's Genentech unit build on the blockbuster success of Herceptin, which has long dominated the breast cancer marketplace. The drug had sales of roughly $6 billion last year.

Genentech said Friday that Kadcyla will cost $9,800 per month, compared to $4,500 per month for regular Herceptin. The company estimates a full course of Kadcyla, about nine months of medicine, will cost $94,000.

FDA scientists said they approved the drug based on company studies showing Kadcyla delayed the progression of breast cancer by several months. Researchers reported last year that patients treated with the drug lived 9.6 months before death or the spread of their disease, compared with a little more than six months for patients treated with two other standard drugs, Tykerb and Xeloda.

Overall, patients taking Kadcyla lived about 2.6 years, compared with 2 years for patients taking the other drugs.

FDA specifically approved the drug for patients with advanced breast cancer who have already been treated with Herceptin and taxane, a widely used chemotherapy drug. Doctors are not required to follow FDA prescribing guidelines, and cancer researchers say the drug could have great potential in patients with earlier forms of breast cancer

Kadcyla will carry a boxed warning, the most severe type, alerting doctors and patients that the drug can cause liver toxicity, heart problems and potentially death. The drug can also cause severe birth defects and should not be used by pregnant women.

Kadcyla was developed by South San Francisco-based Genentech using drug-binding technology licensed from Waltham, Mass.-based ImmunoGen. The company developed the chemical that keeps the drug cocktail together and is scheduled to receive a $10.5 million payment from Genentech on the FDA decision. The company will also receive additional royalties on the drug's sales.

Shares of ImmunoGen Inc. rose 2 cents to $14.32 in afternoon trading. The stock has ttraded in a 52-wek range of $10.85 to $18.10.

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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.

Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.

Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.

"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.

Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.

But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.

National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.

"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

OPTIONS BULLS TARGET GAINS

The spending cuts, if they go ahead, could hit the defense industry particularly hard.

Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.

Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.

"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.

The stock ended up 0.6 percent at $88.12 on Friday.

If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.

General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.

EYES ON GDP DATA, APPLE

The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.

U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.

Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.

Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.

On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.

(Additional reporting by Doris Frankel; Editing by Kenneth Barry)

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Pistorius Bail Ruling Expected Friday

PRETORIA, South Africa — A South African magistrate said he will rule on Friday whether Oscar Pistorius, the double amputee track star accused of murdering his girlfriend, will be granted bail in a case that has riveted the nation.

The decision will be announced in the early afternoon when the court resumes after a midday recess, according to Magistrate Desmond Nair, who listened to final arguments between the defense and prosecution over whether bail should be granted.

The prosecution opposes the sprinter’s application to be released on bail until a full trial, arguing that he might flee. It says Mr. Pistorius committed the premeditated murder of Reeva Steenkamp, a 29-year-old model and law school graduate, when he fired four shots through a locked bathroom door at his home in a gated community while she was on the other side in the early hours of Feb. 14. He has said he believed the person in the bathroom was an intruder.

Premeditated murder is the most serious murder charge under South African criminal law and carries a mandatory life sentence with parole in 25 years at the latest.

Mr. Pistorius’s lawyer, Barry Roux, said Friday that if he were prosecuting the case, the charge would be culpable homicide — a less serious charge implying either negligence or a lack of intention to kill.

With his head bowed as he entered the court on Friday, Mr. Pistorius appeared to be struggling to hold back tears, his jaw clenched, as the prosecutor described Ms. Steenkamp’s plight on Feb. 14.

“I am not saying the planning of the murder of Reeva Steenkamp happened weeks ahead, days ahead,” said the prosecutor, Gerrie Nel. “I am saying the planning to kill Reeva Steenkamp happened that night.”

Ms. Steenkamp took refuge in the bathroom either to escape a fight or a gun, he said.

But Magistrate Nair seemed skeptical on Friday about the risk of flight by Mr. Pistorius. “What kind of life would he lead, a person who has to use prostheses, if he has to flee” and found himself “ducking and diving every day” on artificial limbs, the magistrate asked. “His international career would be over in any event.”

“A life not in prison,” Mr. Nel replied, comparing Mr. Pistorius to WikiLeaks founder Julian Assange who has taken refuge in the Ecuadorean embassy in London, despite his “famous face.”

Mr. Pistorius’s coach, Ampie Louw, told reporters on Friday that he is considering putting the athlete back in training if he secures bail. Mr. Pistorius has canceled planned track appearances and several corporate sponsors — the most recent of them Nike on Thursday — have distanced themselves from him.

Piling on pressure on Friday, Mr. Nel linked the death of Ms. Steenkamp to other violence against women in South Africa, including Anene Booysen, a 17-year-old who was raped and murdered in the Cape region earlier this month. “The degree of violence present in this case is horrific,” Mr. Nel said.

Mr. Pistorius has said he had no intention of killing Ms. Steenkamp.

But on Thursday, Mr. Nel labeled Mr. Pistorius’s account “improbable.”

“What we can’t forget is the applicant is charged with murdering a defenseless, innocent woman,” Mr. Nel said.

Mr. Pistorius has said that he did not realize Ms. Steenkamp was no longer in bed as he rose to check for an intruder, shouting to her to call the police.

“You want to protect her, but you don’t even look at her?” Mr. Nel said. “You don’t even ask, ‘Reeva, are you all right?’  Earlier Thursday, the case was partially eclipsed by developments in the prosecution camp, when the South African police replaced its lead investigator after revelations that he was facing seven charges of attempted murder stemming from an episode in which police officers fired at a minivan.

The national police commissioner, Riah Phiyega, said later that a divisional police commissioner, Lt. Gen. Vinesh Moonoo, would be assigned to preside over “this very important investigation.” The change was announced a day after the original lead investigator, Detective Warrant Officer Hilton Botha, acknowledged several mistakes in the police work and conceded that, based on the existing evidence, he could not rule out the version of events presented by Mr. Pistorius.

A police brigadier, Neville Malila, told reporters on Thursday that Detective Botha was scheduled to appear in court in May on the attempted murder charges in connection with an episode in which Mr. Botha and two other police officers fired at a minivan.

“Botha and two other policemen allegedly tried to stop a minibus taxi with seven people,” Brigadier Malila said. “They fired shots.” While the charges were initially dropped, “we were informed yesterday that the charges will be reinstated,” he said.

Medupe Simasiku, a spokesman for the National Prosecuting Authority, told reporters that the decision to reinstate the charges was made on Feb. 4, long before Ms. Steenkamp was killed.

Lydia Polgreen reported from Pretoria, South Africa, and Alan Cowell from London.

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American Idol: Sudden-Death Round Begins for Men

TV Watch

By Steve Helling

02/21/2013 at 11:00 PM EST

From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban

George Holz/FOX

On Wednesday, 10 women sang for five spots on American Idol's live shows. On Thursday, it was the remaining guys' turn.

The judges have their own euphemisms when they don't like a performance – it's usually easy to read between the lines: If they compliment a singer on his shoes, he won't advance. On Thursday, Nicki Minaj actually told a contestant, "Kudos to you for being really freshly, nicely groomed." They might as well have had a stagehand pull him offstage with an oversized vaudeville hook.

After several weeks of good behavior by the judges, Thursday's episode showed a spark of life when Nicki – who was wearing her very best Jan Brady wig – began rolling her eyes whenever Randy Jackson spoke. At one point, Ryan Seacrest even tried to get them to kiss and make up. There was talk about lipstick, and Mariah Carey did her best to look at anything other than the awkward air kiss that followed.

But the theatrics did not eclipsed some solid singers – and a few performances that just weren't good enough for the competition.

The Good: Curtis Finch Jr. wowed judges with his version of Luther Vandross's "Superstar." It was oversung. But there was no denying Finch's vocal talent. Charlie Askew's rendition of Elton John's "Rocketman" was interesting and well-suited to his voice. And Devin Velez pleased the crowd when he infused Spanish lyrics into Beyoncé's "Listen." The three of them advanced easily.

The Okay: Elijah Liu chose Bruno Mars's "Talking to the Moon," a song that felt current and new. Paul Jolley sang Keith Urban's "Tonight I'm Gonna Cry." Generally, it's a risky move to sing a song made popular by one of the judges, but Jolley's performance was pleasant, if a little shaky. Both advanced, although the judges were split on their assessment of Jolley.

The Others: Johnny Keiser, Kevin Harris, Chris Watson and Jimmy Smith sang unspectacular versions of various songs that everyone knows. Each of them had a decent voice, but none of their performances were all that unique, and none of them advanced. On the other side of the spectrum, J'DA performed an over-the-top rendition of Adele's "Rumor Has It." It wasn't enough for him to advance, but his performance – at one point he collapsed on the floor but continued singing – was by far the most memorable of the night.

There are ten contestants – five men and five women – who have made it to the next round. Next week, the remaining 20 contestants will complete for the remaining 10 spots – and all will hope the judges don't compliment what they're wearing.

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Flu shot doing poor job of protecting older people

ATLANTA (AP) — It turns out this year's flu shot is doing a startlingly dismal job of protecting older people, the most vulnerable age group.

The vaccine is proving only 9 percent effective in those 65 and older against the harsh strain of the flu that is predominant this season, the Centers for Disease Control and Prevention said Thursday.

Health officials are baffled as to why this is so. But the findings help explain why so many older people have been hospitalized with the flu this year.

Despite the findings, the CDC stood by its recommendation that everyone over 6 months get flu shots, the elderly included, because some protection is better than none, and because those who are vaccinated and still get sick may suffer less severe symptoms.

"Year in and year out, the vaccine is the best protection we have," said CDC flu expert Dr. Joseph Bresee.

Overall, across the age groups studied, the vaccine's effectiveness was found to be a moderate 56 percent, which means those who got a shot have a 56 percent lower chance of winding up at the doctor with the flu. That is somewhat worse than what has been seen in other years.

For those 65 and older, the vaccine was only 27 percent effective against the three strains it is designed to protect against, the worst level in about a decade. It did a particularly poor job against the tough strain that is causing more than three-quarters of the illnesses this year.

It is well known that flu vaccine tends to protect younger people better than older ones. Elderly people have weaker immune systems that don't respond as well to flu shots, and they are more vulnerable to the illness and its complications, including pneumonia.

But health officials said they don't know why this year's vaccine did so poorly in that age group.

One theory, as yet unproven, is that older people's immune systems were accustomed to strains from the last two years and had more trouble switching gears to handle this year's different, harsh strain.

The preliminary data for senior citizens is less than definitive. It is based on fewer than 300 people scattered among five states.

But it will no doubt surprise many people that the effectiveness is that low, said Michael Osterholm, a University of Minnesota infectious-disease expert who has tried to draw attention to the need for a more effective flu vaccine.

Among infectious diseases, flu is considered one of the nation's leading killers. On average, about 24,000 Americans die each flu season, according to the CDC.

This flu season started in early December, a month earlier than usual, and peaked by the end of year. Hospitalization rates for people 65 and older have been some of the highest in a decade, at 146 per 100,000 people.

Flu viruses tend to mutate more quickly than others, so a new vaccine is formulated each year to target the strains expected to be the major threats. CDC officials have said that in formulating this year's vaccine, scientists accurately anticipated the strains that are circulating this season.

Because of the guesswork involved, scientists tend to set a lower bar for flu vaccine. While childhood vaccines against diseases like measles are expected to be 90 or 95 percent effective, a flu vaccine that's 60 to 70 percent effective in the U.S. is considered pretty good. By that standard, this year's vaccine is OK.

For senior citizens, a flu vaccine is considered pretty good if it's in the 30 to 40 percent range, said Dr. Arnold Monto, a University of Michigan flu expert.

A high-dose version of the flu shot was recently made available for those 65 and older, but the new study was too small to show whether that has made a difference.

The CDC estimates are based on about 2,700 people who got sick in December and January. The researchers traced back to see who had gotten shots and who hadn't. An earlier, smaller study put the vaccine's overall effectiveness at 62 percent, but other factors that might have influenced that figure weren't taken into account.

The CDC's Bresee said there is a danger in providing preliminary results because it may result in people doubting — or skipping — flu shots. But the figures were released to warn older people who got shots that they may still get sick and shouldn't ignore any serious flu-like symptoms, he said.

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Online:

CDC report: http://www.cdc.gov/mmwr

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Stock index futures signal a rebound

LONDON (Reuters) - Stock index futures pointed to a higher open on Wall Street on Friday, rebounding after the S&P 500 <.spx> posted its worst two-day loss since November.

Futures for the S&P 500, the Dow Jones and the Nasdaq 100 were up 0.2-0.3 percent at 0958 GMT.

European shares rose and German Bund futures fell on Friday after a better-than-expected German Ifo survey.

Shares in Hewlett-Packard rose 2.9 percent in after-market trade as the computer maker's quarterly revenue and forecasts beat Wall Street expectations.

Chipmaker Texas Instruments Inc raised its quarterly dividend by a third and said it will buy back an additional $5 billion in stock. TI shares rose 2 percent in after-market trading after closing at $32.48 on the Nasdaq.

Fellow chipmaker Marvell Technology Group Ltd forecast results this quarter largely above analysts' expectations as it gained market share in hard-disk drive and flash storage businesses, sending its shares up 5 percent after the closing bell.

Insurer American International Group Inc reported fourth-quarter results that beat Wall Street expectations, helping its shares rise 4.2 percent in after hours trade.

Citigroup Inc said on Thursday it has overhauled an executive pay plan that shareholders rejected last year as overly generous, revising it to tie bonus payments more closely to stock performance and profitability.

Newmont Mining Corp , the No. 1 U.S. gold producer, said on Thursday that a more disciplined approach to spending and cost cuts is its top priority as leadership of the company shifts to Gary Goldberg, who takes over as chief executive on March 1.

Private equity firm KKR & Co LP has submitted an offer of $75 per share for Gardner Denver Inc GDI.N, valuing the industrial machinery maker at close to $3.7 billion, two people familiar with the matter said on Thursday.

Interpublic Group, the second-biggest U.S. advertising and marketing group, is expected to follow larger rival Omnicom in reporting upbeat quarterly results, with earnings per shares seen up $0.03 year on year to $0.53 on higher revenue from the United States.

The Dow Jones industrial average <.dji> fell 46.92 points, or 0.34 percent, to 13,880.62 on Thursday. The Standard & Poor's 500 Index <.spx> lost 9.53 points, or 0.63 percent, to 1,502.42. The Nasdaq Composite Index <.ixic> dropped 32.92 points, or 1.04 percent, to close at 3,131.49.

(Reporting By Francesco Canepa/editing by Chris Pizzey, London MPG Desk, +44 (0)207 542-4441)

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Police Detective in Pistorius Case Faces Attempted Murder Charges

PRETORIA, South Africa — In a remarkable twist in the case of Oscar Pistorius, the double amputee track star accused of murdering his girlfriend, the South African police said on Thursday that the officer leading the investigation against the athlete is himself facing seven criminal charges of attempted murder.

The disclosure seemed to present one more setback for the prosecution and to deepen questions surrounding the detective, Hilton Botha. When the bail hearing resumed on Thursday — Mr. Pistorius’s fourth court appearance since the killing on Feb. 14 — the chief prosecutor, Gerrie Nel, began by explaining the events relating to his lead witness and the charges of attempted murder. “The case was originally dropped but now it has been reinstated,” Mr. Nel said.

Mr. Botha was not in court at the time and the Pistorius hearing was briefly adjourned while court officers went to find him. Under cross-examination on Wednesday, the detective was forced to concede that he could not rule out Mr. Pistorius’s own version of events based on the existing evidence, apparently undermining the prosecution’s account. While the prosecution has accused Mr. Pistorius, 26, of the premeditated murder of his girlfriend Reeva Steenkamp, 29, a week ago, the track star himself said he opened fire thinking there was an intruder in his home in a gated community and had no intention of killing her.

But the case has continued to take a toll on his global reputation as an emblem of athletic prowess and of triumph over adversity. On Thursday, the Nike company became the latest corporate sponsor to suspend ties with him. “We believe Oscar Pistorius should be afforded due process and we will continue to monitor the situation closely,” the company said in a statement on its Web site. In Pretoria, in a development that seemed as bewildering as it was sensational on Thursday, Police Brig. Neville Malila said that Mr. Botha is himself set to appear in court in May facing attempted murder charges relating to an incident in October 2011, when Mr. Botha and two other police officers were accused of firing at a minivan carrying seven people.

The case had initially been dropped. News of its reinstatement at the insistence of the state prosecutor r emerged hours after Mr. Botha appeared as the lead police witness in the prosecution’s attempt to prevent Mr. Pistorius from securing bail.

“Botha and two other policemen allegedly tried to stop a minibus taxi with seven people. They fired shots," Brigadier Malila told Reuters.

“We were informed yesterday that the charges will be reinstated,” he said. “At this stage, there are no plans to take him off the Pistorius case.”

South African news reports said the officers at the time were pursuing a man accused of murdering and dismembering a woman before putting the body parts into a drain.

Prosecutors said initially on Thursday that they were unaware of the charges when they called Detective Botha as their lead witness in the argument over bail on Wednesday.

But Medupe Simasiku, a spokesman for the National Prosecuting Authority, said “the decision to reinstate was taken on Feb. 4, way before the issue of Pistorius” or the shooting death of Ms. Steenkamp “came to light.”

“It’s completely unrelated to this trial,” the spokesman told Reuters.

Mr. Botha was quoted in South African news reports as denying claims that he was drunk during the alleged shooting in 2011. He said he and other officers had opened fire on the wheels of the minivan without causing injuries and he was convinced that the case had been withdrawn.

Calling the timing of the reinstated charges “totally weird,” Bulewa Makeke, a spokeswoman for the National Prosecuting Authority, told The Associated Press that Mr. Botha should be replaced but the final decision depends on the police, not the prosecutors.

Mr. Pistorius returned to court on Thursday for further arguments about whether he should be granted bail in a case that has riveted South Africa and fascinated a wider audience, reflecting Mr. Pistorius’s status as one of the world’s most renowned athletes, whose distinctive carbon-fiber running blades have given him the nickname Blade Runner.

On Wednesday, what was supposed to be a simple bail hearing took on the proportions of a full-blown trial, with sharp questions from the presiding magistrate, Desmond Nair, and a withering cross-examination that left Detective Botha grasping for answers that did not contradict his earlier testimony.

Initially, Detective Botha explained how preliminary ballistic evidence supported the prosecution’s assertion that Mr. Pistorius had been wearing prosthetic legs when he shot at a bathroom door early on Feb. 14. Ms. Steenkamp, a model and law school graduate, was hiding behind it at the time.

Mr. Pistorius said in an affidavit read to the court on Tuesday that he had hobbled over from his bed on his stumps and had felt extremely vulnerable to a possible intruder as a result.

But when questioned by Barry Roux, Mr. Pistorius’s lawyer, Detective Botha was forced to acknowledge sloppy police work, and he eventually conceded that he could not rule out Mr. Pistorius’s version of events based on the existing evidence. Mr. Roux accused the prosecution of selectively taking “every piece of evidence” and trying “to extract the most possibly negative connotation and present it to the court.”

Lydia Polgreen reported from Pretoria, South Africa, and Alan Cowell from London.

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American Idol: Women Face Sudden-Death Round

American Idol

By Jamie Bufalino

02/20/2013 at 11:00 PM EST

Mariah Carey

Mario Anzuoni/Reuters/Landov

American Idol threw yet another new twist at its 40 remaining contestants: a sudden-death round.

"One song, one chance, no mercy," Ryan Seacrest said as the first group of 10 female contestants gathered in Las Vegas to try to finally sing their way – in front of a boisterous studio audience – through to the "America votes" phase of the competition.

Five women moved on, five went home.

Kentucky high school junior Jenny Beth Willis, whose rendition of a Trisha Yearwood song earned mixed reviews from the judges, was the first up. Although Keith Urban appreciated her "effortless confidence," Nicki Minaj said her performance lacked excitement (a comment that elicited the first audience boos of the season). Final result: It was the end of the road for Willis.

Tenna Torres, 28, – who attended Mariah Carey's camp for kids as a youngster – took the stage next and impressed the judges with her take on the Natasha Bedingfield's "Soulmate." But she lost style points with Minaj, who didn't like one particular aspect of her look. "Lose the hair," said Minaj, who felt the contestant's coif aged her. Final result: She made it through to the Top 20.

The three most powerful performances of the night all made it to the next round: Nashville's Kree Harrison, who despite taking a decidedly plain-Jane approach to styling, wowed the judges with her version of Patty Griffin's "Up to the Mountain." "You sang the hell out of that song," said Carey.

Angela Miller, 18, of Massachusetts, belted out Jessie J's hit "Nobody's Perfect." But she pretty much was.

And Amber Holcomb, an assistant teacher from Texas, closed the show with a rousing (and well received) rendition of "My Funny Valentine."

For the final spot of the night, it came down to Anchorage, Alaska, resident Adriana Latonio, 17, who tackled Aretha Franklin's "Ain't No Way," and Shubha Vedula, a Michigan high school senior who sang Lady Gaga's "Born This Way."

Although the judges saw potential in both contestants, they ultimately picked Lantonio's powerhouse vocals in a final emotional moment.

Thursday will bring out the guys. The first round of 10 will take the stage to try to make the top 20 – but once again, five will go home.

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Shares, euro extend losses as Europe recovery hopes dim

LONDON (Reuters) - European shares and the single currency fell sharply on Thursday when surprisingly weak euro zone economic data dashed hopes of an early recovery for the recession-hit region this year.

Economists had forecast the euro zone purchasing managers' indexes (PMIs), based on surveys of business activity, would add to tentative signs a recovery was under way, but instead they pointed to a first-quarter contraction of up to 0.3 percent.

"The expectation was the trend of improvement for the euro zone as a whole would continue and it hasn't, so that is a disappointment," said BNP Paribas economist Ken Wattret.

The euro tumbled to a fresh six-week low below $1.32 on the news, having already suffered at the hands of a resurgent greenback following signals from the U.S. Federal Reserve on Wednesday that it was considering an end to monetary stimulus.

Signs that Fed policymakers were becoming increasingly reluctant to continue aggressive monetary easing, revealed in the minutes of the last policy meeting, had sparked a worldwide selloff in riskier asset markets.

MSCI's world equity index <.miwd00000pus>, already down 0.5 percent on the doubts about future Fed policy, took another step down after the PMI data to be one percent lower for the day, having touched its best levels since mid-2008 on Wednesday.

Europe's Eurofirst 300 index <.fteu3> shed 1.25 percent, on track for its second biggest daily loss of the year. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were all down as much as 1.8 percent lower.

SAFETY PLAYS WELL

In the fixed income market, German bonds, considered a safe haven, hit their best levels for a month with the main Bund futures contract up 91 ticks to 143.33. The move reversed a fall seen on Wednesday and was also being supported by the approach of an Italian general election this weekend.

"Investors are becoming more and more cautious ahead of the weekend ... and altogether people decided here to pull the trigger and go risk-off," said Christian Lenk, a strategist at DZ Bank.

The dollar, another safety play, followed up its big gains on Wednesday adding a further 0.45 percent on an index value that includes most major currencies <.dxy>, although it slipped against the yen to 93.35.

The Markit composite PMI for the euro zone, which combines both services and manufacturing surveys, fell to 47.3 in February from 48.6. It had been expected to rise to 49.0.

The data also showed a growing gap between Germany and France - the two biggest economies in the euro zone - which could have implications for the European Central Bank's future monetary policy.

The survey found firms in Germany are enjoying a healthy rate of growth, while French service sector companies are in the midst of their worst slump since the financial crisis was at a peak in early 2009.

"The theme is still the very substantial divergence between France and Germany and that is going continue to be the case for much of the year," said Wattret of BNP Paribas.

"On the margins this is going to resonate with the dovish tone from the ECB at its last meeting, but I think the real swing factor for the ECB will be exchange rate factor and the tightening impact it is having."

The strength of the euro has been holding back exports.

In commodity markets, the prospect of weakening demand from Europe and a possible early end to the Fed's policy of quantitative easing sent all markets lower.

London copper struck its lowest in nearly two months, at $7,870 a tonne, while oil dropped below $114.50 a barrel for the first time this month having seen its biggest daily fall of the year on Wednesday.

Growth-attuned precious metal platinum fell 3 percent to hit a five-week low. Traditional safe haven gold popped higher, to $1,568 an ounce, after the Fed minutes had pushed it to a seven-month low.

"Long-position holders have been looking to sell for profit-taking," said Yusuke Seta, a commodity sales manager at Newedge Japan. "I guess this is a good time to sell."

(Additional reporting by Marc Jones.; Editing by Alastair Macdonald)

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India Ink: Cameron Calls Colonial-Era Massacre in India 'Shameful'

NEW DELHI – Britain’s prime minister laid a wreath at the site of a notorious 1919 massacre that cost the lives of hundreds of Indians and has long been seen as one of the British Empire’s most shameful episodes.

David Cameron was the first serving prime minister to voice regret about the Jallianwala Bagh massacre in Amritsar, although Queen Elizabeth made a similar appearance in 1997 that at the time caused an outpouring of pained reflections about India’s colonial history under Britain. Mr. Cameron’s trip, perhaps because it is his third one here, or because Britain’s role in India has become relatively less important, has caused far less comment and consternation.

“This was a deeply shameful event in British history – one that Winston Churchill rightly described at that time as monstrous,” Mr. Cameron wrote in the visitor’s notebook at the pink granite memorial.

Like the queen before him, Mr. Cameron did not offer a full apology, a fact that was duly noted by Indian media. Britain’s colonial history is so replete with regrettable episodes that officials have quietly worried that an apology for one episode might lead to an outpouring of demands for similar apologies all over the world.

In 1919, Brig. Reginald Dyer, a British officer administering martial law, ordered 50 soldiers to open fire on a crowd of about 10,000 unarmed Indians protesting a postwar extension of World War 1 detention laws. A British inquiry concluded that 379 people were killed and 1,100 wounded, but an Indian inquiry estimated that 1,000 died.

Fortunately for Mr. Cameron, Prince Philip was not on this trip. When Queen Elizabeth visited the Amritsar memorial in 1997, the queen’s royal consort was overheard griping that the memorial’s official signage “vastly exaggerated” the death toll, a fact that he said he had learned from Brigadier Dyer’s son when the two men were cadets in the Royal Navy before World War II.

The nearly sacrilegious remark touched off a storm of commentary, little of it beneficial to the visitors. The Amritsar massacre is seen by many Indian historians as a crucial moment in the country’s struggle for independence.

Mr. Cameron’s trip is intended to bolster the two countries’ business and trade ties and perhaps strengthen his support among 1.5 million British voters of Indian descent. On Tuesday, Indian Prime Minister Manmohan Singh asked for Mr. Cameron’s assistance in the increasingly embarrassing bribery investigation into India’s purchase of 12 AgustaWestland helicopters made at a plant in Britain.

AgustaWestland’s parent company, Finmeccanica, is based in Italy, and the company’s chairman and chief executive, Giuseppe Orsi, was arrested recently on corruption and fraud charges after investigators charged that Finmeccanica had engaged in an elaborate scheme to bribe Indian generals to win the contract, charges that at least one of the top generals has firmly denied. The case has become a black eye for Mr. Singh’s governing coalition.

While stressing that Finmeccanica is “an Italian company,” Mr. Cameron promised to “respond to any request for information.”

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