Southwest Side fire displaces 20













2400 S. Drake


A fire in the 2400 block of South Drake Avenue displaced 20 people late Saturday night.
(Peter Nickeas / Chicago Tribune / December 29, 2012)



























































Ten adults and ten children were displaced by a fire in a three-story brick home in the Little Village neighborhood Saturday night. 

Initial reports indicated that people were trapped in the building, on the 2400 block of South Drake Avenue, but everyone was able to get out, fire officials said. No firefighters or residents were injured.

The fire was confined to the third floor and attic. Responding firefighters cut holes in the roof as part of their effort to extinguish the flames. 

Fire equipment and police cars blocked traffic a block in each direction from the intersection of 24th Street and Drake Avenue. 

It's not clear what caused the fire. 

pnickeas@tribune.com
Twitter: @peternickeas


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Body of India rape victim arrives home in New Delhi


NEW DELHI (Reuters) - The body of a woman whose gang rape provoked protests and rare national debate about violence against women in India arrived back in New Delhi early on Sunday and was quickly cremated at a private ceremony.


The unidentified 23-year-old medical student died from her injuries on Saturday, prompting promises of action from a government that has struggled to respond to public outrage.


She had suffered brain injuries and massive internal injuries in the attack on December 16, and died in hospital in Singapore where she had been taken for treatment.


She and a male friend had been returning home from the cinema, media reports say, when six men on a bus beat them with metal rods and repeatedly raped the woman. The friend survived.


Six suspects were charged with murder after her death.


A Reuters correspondent saw family members who had been with her in Singapore take her body from the airport to their Delhi home in an ambulance with a police escort.


Ruling party leader Sonia Gandhi was seen arriving at the airport when the plane landed and Prime Minister Mannmohan Singh's convoy was also there, the witness said.


The body was then taken to a crematorium and cremated. Media were kept away but a Reuters witness saw the woman's family, New Delhi's chief minister, Sheila Dikshit, and the junior home minister, R P N Singh, coming out of the crematorium.


Security in the capital remained tight after authorities, worried about the reaction to the news of her death, had on Saturday deployed thousands of policemen and closed some roads and metro stations.


Protesters still gathered, in New Delhi and other cities, to keep the pressure on Singh's government to get tougher on crime against women. Last weekend, protesters fought pitched battles with police.


On Sunday, lines of policemen in riot gear and armed with heavy wooden sticks stood in front of metal barricades closing off roads in New Delhi. Morning traffic was light.


DOUBTS


The outcry over the attack caught the government off-guard. It took a week for Singh to make a statement, infuriating many protesters.


Issues such as rape, dowry-related deaths and female infanticide rarely enter mainstream political discourse in India.


Analysts say the death of the woman dubbed "Amanat", an Urdu word meaning "treasure", by some Indian media could change that, although it is too early to say whether the protesters calling for government action to better safeguard women can sustain their momentum through to national elections due in 2014.


Newspapers raised doubts about the commitment of both male politicians and the police to protecting women.


"Would the Indian political system and class have been so indifferent to the problem of sexual violence if half or even one-third of all legislators were women?" the Hindu newspaper asked.


The Indian Express acknowledged the police force was understaffed and poorly paid, but there was more to it than that.


"It is geared towards dominating citizens rather than working for them, not to mention being open to influential interests," the newspaper said. "It reflects the misogyny around us, rather than actively fighting for the rights of citizens who happen to be female."


Most sex crimes in India go unreported, many offenders go unpunished, and the wheels of justice turn slowly, according to social activists, who say that successive governments have done little to ensure the safety of women.


Commentators and sociologists say the rape has tapped into a deep well of frustration many Indians feel over what they see as weak governance and poor leadership on social issues.


New Delhi has the highest number of sex crimes among India's major cities, with a rape reported on average every 18 hours, according to police figures. Government data show the number of reported rape cases in India rose by nearly 17 percent between 2007 and 2011.


For a link to the poll, click http://www.trust.org/trustlaw/news/special-coverage/g20women/


(Additional reporting by Ross Colvin and Diksha Madhok; Writing by Louise Ireland; Editing by Kevin Liffey and Robert Birsel)



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Wall Street ends sour week with fifth straight decline

NEW YORK (Reuters) - Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.


President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set to take effect beginning next week. Stocks, which have been influenced by little else than the flood of fiscal cliff headlines from Washington in recent days, extended losses going into the close with the Dow Jones industrial average and the S&P 500 each losing 1 percent, after reports that Obama would not offer a new plan to Republicans. The Dow closed below 13,000 for the first time since December 4.


"I was stunned Obama didn't have another plan, and that's absolutely why we sold off," said Mike Shea, managing partner at Direct Access Partners LLC in New York. "He's going to force the House to come to him with something different. I think that's a surprise. The entire market is disappointed in a lack of leadership in Washington."


In a sign of investor anxiety, the CBOE Volatility Index <.vix>, known as the VIX, jumped 16.69 percent to 22.72, closing at its highest level since June. Wall Street's favorite fear barometer has risen for five straight weeks, surging more than 40 percent over that time.


The Dow Jones industrial average <.dji> dropped 158.20 points, or 1.21 percent, to 12,938.11 at the close. The Standard & Poor's 500 Index <.spx> lost 15.67 points, or 1.11 percent, to 1,402.43. The Nasdaq Composite Index <.ixic> fell 25.59 points, or 0.86 percent, to end at 2,960.31.


For the week, the Dow fell 1.9 percent. The S&P 500 also lost 1.9 percent for the week, marking its worst weekly performance since mid-November. The Nasdaq finished the week down 2 percent. In contrast, the VIX jumped 22 percent for the week.


Pessimism continued after the market closed, with stock futures indicating even steeper losses. S&P 500 futures dropped 26.7 points, or 1.9 percent, eclipsing the decline seen in the regular session.


All 10 S&P 500 sectors fell during Friday's regular trading, with most posting declines of 1 percent, but energy and material shares were among the weakest of the day, with both groups closely tied to the pace of growth.


An S&P energy sector index <.gspe> slid 1.8 percent, with Exxon Mobil down 2 percent at $85.10, and Chevron Corp off 1.9 percent at $106.45. The S&P material sector index <.gspm> fell 1.3 percent, with U.S. Steel Corp down 2.6 percent at $23.03.


Decliners outnumbered advancers by a ratio of slightly more than 2 to 1 on the New York Stock Exchange, while on the Nasdaq, two stocks fell for every one that rose.


"We've been whipsawing around on low volume and rumors that come out on the cliff," said Eric Green, senior portfolio manager at Penn Capital Management in Philadelphia, who helps oversee $7 billion in assets.


With time running short, lawmakers may opt to allow the higher taxes and across-the-board federal spending cuts to go into effect and attempt to pass a retroactive fix soon after the new year. Standard & Poor's said an impasse on the cliff wouldn't affect the sovereign credit rating of the United States.


"We're not as concerned with January 1 as the market seems to be," said Richard Weiss, senior money manager at American Century Investments, in Mountain View, California. "Things will be resolved, just maybe not on a good timetable, and any deal can easily be retroactive."


Trading volume was light throughout the holiday-shortened week, with just 4.46 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT on Friday, below the daily average so far this year of about 6.48 billion shares. On Monday, the U.S. stock market closed early for Christmas Eve, and the market was shut on Tuesday for Christmas. Many senior traders were absent this week for the holidays.


Highlighting Wall Street's sensitivity to developments in Washington, stocks tumbled more than 1 percent on Thursday after Senate Majority Leader Harry Reid warned that a deal was unlikely before the deadline. But late in the day, stocks nearly bounced back when the House said it would hold an unusual Sunday session to work on a fiscal solution.


Positive economic data failed to alter the market's mood.


The National Association of Realtors said contracts to buy previously owned U.S. homes rose in November to their highest level in 2-1/2 years, while a report from the Institute for Supply Management-Chicago showed business activity in the U.S. Midwest expanded in December.


"Economic reports have been very favorable, and once Congress comes to a resolution, the market should resume an upward trend, based on the data," said Weiss, who helps oversee about $125 billion in assets. "All else being equal, we see any further decline as a buying opportunity."


Barnes & Noble Inc rose 4.3 percent to $14.97 after the top U.S. bookstore chain said British publisher Pearson Plc had agreed to make a strategic investment in its Nook Media subsidiary. But Barnes & Noble also said its Nook business will not meet its previous projection for fiscal year 2013.


Shares of magicJack VocalTec Ltd jumped 10.3 percent to $17.95 after the company gave a strong fourth-quarter outlook and named Gerald Vento president and chief executive, effective January 1.


The U.S.-listed shares of Canadian drugmaker Aeterna Zentaris Inc surged 13.8 percent to $2.47 after the company said it had reached an agreement with the U.S. Food and Drug Administration on a special protocol assessment by the FDA for a Phase 3 registration trial in endometrial cancer with AEZS-108 treatment.


(Reporting by Ryan Vlastelica; Editing by Jan Paschal)



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AP source: McCoy, Hicks suspended by Texas


Texas has sent home backup quarterback Case McCoy and injured linebacker Jordan Hicks on the eve of the Alamo Bowl in San Antonio for violating team rules, a person with knowledge of the suspensions told The Associated Press.


The person spoke to the AP on condition of anonymity Friday because the school wasn't releasing the names of the suspended players. The person said the players violated curfew.


Coach Mack Brown addressed the situation during a previously schedule news conference Friday and referred to a KENS-TV report (http://tinyurl.com/cw8dcj3) that police were investigating two unidentified Texas players in an alleged sexual assault at a San Antonio hotel.


"This has been reported: We had a couple young men that broke team rules last night. They have been suspended from the team and they will be sent home," Brown said at a previously scheduled news conference in San Antonio. "They will not be available for the game and I will not address any more questions in that matter."


Sgt. Javier Salazar, a San Antonio police spokesman, said only that detectives are in the early stages of investigating a case of alleged sexual assault in the downtown area. Investigators are interviewing witnesses and collecting forensic evidence, he said.


"It's a very meticulous process," Salazar said. "As far as these investigations go, it's very early."


A heavily redacted police report says a 21-year-old woman told police she believed she was assaulted around 2 a.m. Friday after inviting two men to her hotel room. The report shows only that the men are students and that one is 21 and the other is 20. The woman told police that she had had several drinks when she invited the men to her hotel.


The woman said one of the men assaulted her while the other "just stood there and watched," the report said. Police said they observed bruises on the woman's right knee and left bicep.


After talking to police, the woman was taken to a San Antonio hospital, where she was seen by a sexual assault nurse examiner, according to the report. The two suspects also were taken to the hospital and examined by the nurse, the report says.


Ben Turner, acting general manager at the Holiday Inn on San Antonio's Riverwalk, said police were summoned to the hotel between 2 and 3 a.m. Friday to investigate an alleged sexual assault. He said hotel staff was cooperating with police.


McCoy, the brother of former Texas star and current Browns quarterback Colt McCoy, has played eight games this season, including one start. He has thrown for 722 yards and six touchdowns.


Hicks was a starter but hasn't played since the third game of the season because of a hip injury.


Texas (8-4) plays Oregon State (9-3) in Saturday's game at the Alamodome. The Longhorns' walk-through at the stadium Friday afternoon was closed to the media.


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Associations React to EPA Admin’s Resignation






On Thursday, Lisa P. Jackson, the administrator of the Environmental Protection Agency, announced that she would be leaving her post after President Barack Obama makes his State of the Union address in January. Here are some of the reactions from energy and environmental associations across the country to the news.


* “Administrator Jackson put into action the Obama administration‘s commitment to ethanol and other biofuels,” stated Bob Dinneen, President and CEO of the Renewable Fuels Association, adding that Jackson’s work with making E15 more available at the gas pump “protected the progress that has been made in reducing our dependence on foreign oil.”






* Carol M. Browner, a former EPA administrator, former director of the White House Office of Energy and Climate Change Policy and Distinguished Senior Fellow from the Center for American Progress, stated that Jackson had directed several successes at the EPA, including new standards for fuel efficiency, protections against mercury pollution and proposed standards to limit carbon pollution from new power plants.


* Michael Brune, the Sierra Club executive director, stated that he wanted to express gratitude to Jackson on behalf of the club’s 2.1 million members and supporters. Brune called the administrator “a steadfast advocate for clean air, clean water, a stable climate and public health — often in the face of very vocal and forceful detractors.”


* The Charleston (W.Va.) Gazette reported that Bill Raney, president of the West Virginia Coal Association said that Jackson’s resignation is good news for his state and that Jackson’s policies are to blame for coal’s decline in Appalachia.


* Raney stated in a report from the Bluefield (W.Va.) Daily Telegraph that he hopes Obama’s new pick to lead the EPA will have respect for coal miners in the eastern United States and that “for the past four years, our coal miners have had no respectful recognition for all they have done to provide Americans with the quality of life we now enjoy.”


* According to an Associated Press report , Scott Segal, the director of the Electric Reliability Coordinating Council, stated that Jackson’s tenure featured some of the most expensive environmental rules in the agency’s history and that those rules were used “as blunt attempts to marginalize coal and other solid fossil fuels and to make motor fuels more costly at the expense of industrial jobs, energy security, and economic recovery.”


* Frank O’Donnell of Clean Air Watch stated that the news of Jackson’s resignation had long been expected but that she would be missed by environmental and health advocates. According to O’Donnell, one of Jackson’s most significant successes at the EPA was that she “reversed the findings of the Bush administration and declared that climate change poses a real threat to health and the environment.”


Energy News Headlines – Yahoo! News





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2013: Energy issues on front burner




From left, John Krasinski, Gus Van Sant and Matt Damon promote what Sheril Kirshenbaum says will be a controversial film.




STORY HIGHLIGHTS


  • Public attitudes shifted on key energy issues in 2012

  • Sheril Kirshenbaum says controversy has grown over natural gas fracking boom

  • She says climate change, renewable energy are likely to be on agenda for 2013

  • Kirshenbaum: A turbulent year has increased public interest in energy issues




Editor's note: Sheril Kirshenbaum is an author and director of The University of Texas at Austin's Energy Poll.


(CNN) -- After a year of tumultuous weather and global change, it should not be surprising that 2012 proved to be a transformative period for public opinion on energy.


Changing attitudes on the most hotly debated topics matter a great deal because they set the course for future policy decisions. Taking a closer look at trends over the past 12 months hints at what to expect in several key areas of the U.S. energy landscape in 2013.



Sheril Kirshenbaum

Sheril Kirshenbaum



Natural gas boom -- and controversy


Hydraulic fracturing, also known as "fracking," has been around for more than half a century, but recently expanded rapidly because of advances in horizontal drilling deep underground.


Despite this proliferation of new wells, 59% of Americans say they are unfamiliar with the term, down from 63% in March, according to the latest findings from the University of Texas at Austin's Energy Poll.





CNN Opinion contributors weigh in on what to expect in 2013. What do you think the year holds in store? Let us know @CNNOpinion on Twitter and Facebook/CNNOpinion


Although the majority still does not seem to know much about fracking, a deluge of media attention to this controversial extraction technology has likely raised its profile significantly since last year.


However, increased awareness is not synonymous with public approval. Among those familiar with hydraulic fracturing, support decreased from 48% to 41% over six months. Similarly, a December poll by Bloomberg reported that 66% of Americans would like greater government oversight of the process, up from 56% in September.










When Matt Damon's new film "Promised Land" debuts in January, expect public recognition and heated debate over hydraulic fracturing to rise further.


Climate change gets real


When Gov. Mitt Romney quipped, "President Obama promised to begin to slow the rise of the oceans" at the 2012 Republican National Convention, his audience burst into laughter. During the debates that followed, neither party's nominee mentioned climate change once as a policy priority.


Weeks later, Superstorm Sandy ravaged the Northeastern United States, flooding many parts of New York City, New Jersey and other regions along the Atlantic Coast. Both candidates immediately canceled campaign events in the wake of the storm and Mayor Michael Bloomberg endorsed President Obama, citing his commitment to tackling climate change. After a summer of record-breaking drought followed by this single powerful hurricane in a major metropolitan area, attitudes shifted.


In March, 65% of Americans surveyed said they thought that climate change was occurring. By September, after the summer drought, that number reached 73%, with the greatest gains among Republicans and independent voters. Earlier this month, The Associated Press-GfK poll followed up, reporting that after Sandy, 78% of Americans now say global temperatures are rising.


Because weather can influence opinions on climate change, it's possible that a wet and stormy winter -- ironically, also exacerbated by climate change -- could push attitudes in the other direction. Regardless, in 2013 expect to hear less argument about whether the Earth is warming and a more serious policy discussion by elected officials across levels of government about how we might mitigate the effects of rising seas, changing ocean acidity, agricultural uncertainty and extreme weather events.


Renewables gain ground


Renewable energy technologies have been available for decades, but 2012 may have been the tipping point for their wider adoption. There has been a significant increase in the percentage of Americans who say they are likely to buy hybrid or electric vehicles or use "smart" electric meters within the next five years. Most notably, between September 2011 and September 2012, the percentage of Americans who say they are likely to install solar panels at home increased from 21% to 28%.


These trends may reflect changing attitudes on climate, media attention to energy during the election cycle, rising gas prices or cheaper, widely advertised new alternatives. Most likely, it's a combination of all these.


What's clear is that we are now on the cusp of a renewables revolution with greater options and cost-saving technologies than ever. They are finally becoming more affordable, reliable and practical, with solar power at the helm. Still, it's important to note that as we ring in 2013, China, not the United States, has taken the lead on renewables.


The big picture


Polls tell the story of how attitudes are shifting, but short of having a crystal ball, there is no way to unequivocally predict what major world events will influence our nation's energy future. For example, another nuclear disaster or offshore oil spill could play an enormous role in shaping the next generation of energy priorities.


What can we count on in 2013?


In the past year, the percentage of Americans saying they consider themselves knowledgeable on how energy is produced, delivered and used has increased from 24% to 33%. More are likely to seek added information about reducing their own energy use and a higher percentage rate energy issues as important to them.


Amid economic uncertainty, volatile prices and global unrest, Americans are paying closer attention to the energy decisions that affect us all.


Follow @CNNOpinion on Twitter


Join us at Facebook/CNNOpinion


The opinions expressed in this commentary are solely those of Sheril Kirshenbaum.






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5-year-old among 4 people badly burned after Lawndale fire









A 5-year-old girl suffered burns to her entire body during a fire in the Lawndale neighborhood that lasted only a few minutes early Saturday, according to the Chicago Fire Department.


The 5-year-old and a 9-year-old boy, with burns to 35 percent of his body, were taken to John H. Stroger, Jr. Hospital of Cook County from their home in the 4200 block of West 21st Place.


A total of six people were taken to area hospitals, four in serious-to-critical condition. Police said the six were all from the same family. The fire broke out after 4:30 a.m.





The first responding engine didn't see any fire but found one victim on the front lawn, said Chicago Fire Department District Chief Peter Van Dorpe. But the fire "vented," meaning a window blew out and fed the fire oxygen, and immediately spread through the first floor.


Van Dorpe said the first battalion chief at the scene called an EMS Plan 1, for an extra five ambulances, and escalated the alarm to bring more firefighters to the scene.


Among the others injured: a 30-year-old man was taken to Mount Sinai Hospital with burns to 90 percent of his body, a 20-year-old woman went to the same hospital with burns to 80 percent of her body, and two women, 60 and 84, were taken in fair-to-serious condition to Saint Anthony Hospital.


The two adults taken to Mount Sinai were transferred to Stroger Hospital. The condition on the two women sent to Saint Anthony improved to good-to-fair.


The fire was out in just a few minutes, Van Dorpe said, though some of the fire extended to a neighboring home. The fire was confined to the first floor but the home isn't habitable and up to eight people were displaced, Van Dorpe said.


The cause of the fire is under investigation.


pnickeas@tribune.com
Twitter: @peternickeas






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Indian gang rape victim dies; protesters defy lock-down


NEW DELHI/SINGAPORE (Reuters) - A woman whose gang rape sparked protests and a national debate about violence against women in India died of her injuries on Saturday, prompting a security lockdown in New Delhi and an acknowledgement from India's prime minister that social change is needed.


The six suspects held in connection with the December 16 attack on the 23-year-old medical student on a New Delhi bus were charged with murder following her death, police said. The maximum penalty for murder is death.


Earlier, bracing for a new wave of protests, Indian authorities deployed thousands of policemen, closed 10 metro stations and banned vehicles from some main roads in the heart of New Delhi, where demonstrators have converged since the attack to demand improved women's rights.


Despite efforts to cordon off the city centre, more than 1,000 people gathered for peaceful protests at two locations. Some protesters shouted for justice, others for the death penalty for the rapists.


The woman severely beaten, raped and thrown out of a moving bus, had been flown to Singapore in a critical condition by the Indian government on Thursday for treatment.


The intense media coverage of the attack and the use of social media to galvanize protests, mostly by young middle-class students, has forced political leaders to confront some uncomfortable truths about the treatment of women in the world's largest democracy.


Most sex crimes in India go unreported, many offenders go unpunished, and the wheels of justice turn slowly, according to social activists who say that successive governments have done little to ensure the safety of women.


"The need of the hour is a dispassionate debate and inquiry into the critical changes that are required in societal attitudes," Prime Minister Manmohan Singh said in a statement.


"I hope that the entire political class and civil society will set aside narrow sectional interests and agenda to help us all reach the end that we all desire - making India a demonstrably better and safer place for women to live in."


Hundreds of protesters took to the streets in the northern Indian city of Lucknow. In Hyderabad, in southern India, a group of women marched to demand severe punishment for the rapists. Protests were also held in the cities of Chennai, Kolkata and Mumbai.


The demonstrations were peaceful, unlike last weekend, when police used batons, water cannon and teargas in clashes with protesters.


Sonia Gandhi, the powerful leader of the ruling Congress party, directly addressed the protesters in a rare broadcast on state television, saying that as a mother and a woman she understood their grievances.


"Your voice has been heard," Gandhi said. "It deepens our determination to battle the pervasive and the shameful social attitudes that allow men to rape and molest women with such impunity."


The Indian government has chartered an aircraft to fly the student's body back to India on Saturday, along with members of her family, T.C.A. Raghavan, the Indian high commissioner to Singapore, told reporters.


The body was taken to a Hindu casket firm in Singapore for embalming. Indian diplomats selected a gold and yellow coffin to transport her home, staff at the firm told reporters.


"She was courageous in fighting for her life for so long against the odds but the trauma to her body was too severe for her to overcome," Kelvin Loh, chief executive officer of the Mount Elizabeth Hospital in Singapore said in a statement announcing her death from multiple organ failure.


The victim and a male friend were returning home from the cinema by bus when, media reports say, six men on the bus beat them with metal rods and repeatedly raped the woman. Media said a rod was used in the rape, causing internal injuries. Both were thrown from the bus. The male friend survived.


Six suspects, from a slum in south Delhi, are in custody.


The attack has put gender issues centre stage in Indian politics arguably for the first time. Issues such as rape, dowry-related deaths and female infanticide have rarely entered mainstream political discourse.


Analysts say the death of the woman dubbed "Amanat", an Urdu word meaning "treasure," by some media could change that, although it is too early to say whether the protesters calling for government action to better safeguard women can sustain their momentum through to national elections due in 2014.


WORST PLACE


The outcry over the attack caught the government off-guard and it was slow to reach. It took a week for Singh to make a statement on the attack, infuriating many protesters who saw it as a sign of a government insensitive to the plight of women.


The prime minister, a stiff 80-year-old technocrat who speaks in a low monotone, has struggled to channel the popular outrage in his public statements and convince critics that his eight-year-old government will now take concrete steps to improve the safety of women.


"The Congress managers were ham-handed in their handling of the situation that arose after the brutal assault on the girl. The crowd management was poor," a lawmaker from Singh's ruling Congress party said on condition of anonymity.


Commentators and sociologists say the rape has tapped into a deep well of frustration many Indians feel over what they see as weak governance and poor leadership on social issues.


A global poll by the Thomson Reuters Foundation in June found that India was the worst place to be a woman because of high rates of infanticide, child marriage and slavery.


New Delhi has the highest number of sex crimes among India's major cities, with a rape reported on average every 18 hours, according to police figures. Government data show the number of reported rape cases in the country rose by nearly 17 percent between 2007 and 2011.


For a link to the poll, click http://www.trust.org/trustlaw/news/special-coverage/g20women/


(Additional reporting by Devidutta Tripathy, Satarupa Bhattacharjya, Diksha Madhok, Shashank Chouhan and Suchitra Mohanty in Delhi, Sharat Pradhan in Lucknow, Sujoy Dhar in Kolkata, Anupama Chandrasekaran in Chennai, Kevin Lim, Saeed Azhar, Edgar Su and Sanjeev Miglani in Singapore; Editing by Mark Bendeich and Robert Birsel)



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Wall Street set to open down before latest try at "cliff" deal


NEW YORK (Reuters) - U.S. stocks were poised for a lower open on Friday as President Barack Obama and top lawmakers planned to make a last-ditch attempt at budget talks to prevent the United States from going over the "fiscal cliff."


Obama and lawmakers will meet at the White House Friday afternoon for talks before a New Year's deadline to keep large tax hikes and spending cuts from taking effect and threatening the economy with recession.


Investors showed their skepticism about a deal coming in time as the benchmark S&P 500 index was on track for a fifth straight decline.


With time running short to reach a complete agreement, members of Congress may attempt to pass a retroactive fix on tax rises and spending cuts soon after the automatic policies come into effect on January 1.


"Obviously all eyes will be on Washington and the headlines coming out of Washington will dictate today's market movement," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"You do have some economic data coming in, but the market is probably not going to pay much attention to that. The big thing is whether Washington will reach a deal by Monday."


U.S. stocks fell for a fourth straight session on Thursday but managed to recover most of their earlier losses after the House of Representatives, in the barest sign of progress, said it would return to Washington on Sunday night to work on avoiding the cliff.


Highlighting market sensitivity to cliff headlines, on Thursday stocks fell more than 1 percent earlier in the session after Senate Majority Leader Harry Reid warned a deal was unlikely before the deadline.


With many market participants away for the holiday-shortened week, volume is expected to remain light, which could exacerbate market swings.


S&P 500 futures fell 7.3 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 77 points, and Nasdaq 100 futures dropped 11.25 points.


Economic data expected on Friday includes Chicago PMI for December at 9:45 a.m. while the National Association of Realtors issues Pending Home Sales for November at 10 a.m. Economists in a Reuters survey forecast a reading of 51 for the main PMI index and a 1 percent rise in pending home sales.


MagicJack Vocaltec Ltd forecast over $39 million in GAAP revenue and over 70 cents per share in operating income for the fourth quarter and appointed Gerald Vento president and CEO, effective January 1. Shares jumped 10.6 percent to $18 in light premarket trading.


Aeterna Zentaris Inc U.S.-listed shares gained 4.6 percent to $2.27 before the opening bell after the company said it had reached an agreement with the U.S. Food and Drug Administration on a special protocol assessment by the FDA for phase 3 registration trial in endometrial cancer with AEZS-108 treatment.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)



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Wade suspended game for action against Sessions


NEW YORK (AP) — Miami Heat guard Dwyane Wade was suspended one game without pay by the NBA on Thursday for flailing his leg and making contact with the groin of Charlotte Bobcats' Ramon Sessions.


The incident happened with 8:12 left in the fourth quarter of the Heat's 105-92 victory over the Bobcats on Wednesday night. Sessions was called for a foul on the play. Wade will serve the suspension Friday night when the Heat visit the Detroit Pistons, and return Saturday night in Milwaukee.


"I'm far from being a dirty player, (plus) my intent was never 2 kick Ramon Sessions. I just reacted to the contact that I got from him," Wade tweeted Thursday night. "More than anything, I think of my boys watchin me be4 retaliating 2ward any player."


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