Why Canada has failed to produce many significant global e-commerce success stories?

The Canadian consumer success story is well-known. We are among the global leaders in Internet use and online video consumption. For several years, Canada was the world's largest per-capita user of Facebook. Netflix launched online-only first in Canada and quickly grew to one million subscribers. Digital music sales have grown faster in Canada than in the U.S. for each of the past five consecutive years.

Yet despite the growth on the consumption side, we punch well below our weight in creating global online companies, an issue recognized in a recent McKinsey study prepared for the G8 meeting in France. There are exceptions of course -- Club Penguin, Flickr, AbeBooks, StumbleUpon among them -- but most are bought out by larger U.S. companies before they have the chance to grow into global players. Canada does well in producing e-commerce SMEs, but the multinationals that employ thousands and generate billions in revenue have largely eluded us.

The question is why? There are no doubt many factors -- venture capital, market size, appetite for risk -- but, as they say, when you are a hammer everything looks like a nail. As a law professor, I see legal and policy failures.

Over a decade ago, Canada established the e-commerce law basics including enforceability of online contracts, privacy rules, and some online consumer protections. But these were the just the price of admission. The success stories often lie in the countries that went further. I believe companies like YouTube, Google, and Facebook could have been Canadian but legal rules made it less likely.

YouTube could have been Canadian. The company would have been called iCraveTV, a Toronto-based online video startup that launched in 1999. It streamed television programming online supported by advertising along the bottom of the screen. It was YouTube years before there was YouTube and it relied on Canadian law to do it. The U.S. objected and within months the service was shutdown and Canadian law changed as we caved to U.S. pressure.

Google could have been Canadian. The company would have been called OpenText. OpenText is of course Canada's largest software company based in Waterloo, but before Google was a Stanford graduate student project, OpenText was providing the search technology for companies like Yahoo. U.S. copyright law has a fair use provision that Google later relied upon to index the web and become a multi-billion dollar company. Canada still has a more restrictive fair dealing approach and OpenText opted for managing content in the corporate market, which does not raise the same legal issues.

Facebook could have been Canadian. The company would have been called Nexopia. Nexopia is an Edmonton based social network that is still active. It was founded in 2003, a year before the launch of Facebook. But unlike Facebook and thousands of other U.S. companies, Canada does not have a rule that grants legal immunity to intermediaries for postings of third parties. In the U.S., CDA Section 230 has been used by all the giants -- Facebook, Amazon, Google, eBay -- to limit risk and liability for the postings of their users. In Canada, we do not have the same protections and the risks faced by anyone operating online is far greater.

I could go on. We could talk about why Skype was unlikely to be Canadian because of the regulatory and competitive environment for telecom companies. We could talk about how Zillow, the online real estate giant, couldn't be Canadian because of restrictive rules over the use of listings data. We could talk about how Amazon couldn't be Canadian, because of foreign investment restrictions.

Canada has failed to build competitive legal and policy e-commerce frameworks and we are now living with the consequences.

So what comes next?

There are numerous policy issues that should be put on the table, not all of them a matter for the federal government as some fall within provincial jurisdiction. I will highlight four and perhaps we can discuss more during the question period:

1. Moving ahead with the anti-spam rules, not diluted through regulation as some are calling for. Ensure swift passage of the just-introduced privacy measures. Moreover, the next round of privacy law review is due this year and we need tougher enforcement measures put on the table and retention of the principle of court oversight for mandatory personal information disclosure.

2. Copyright flexibility. Today and tomorrow's e-commerce businesses rely far more on the flexibility of copyright law, not the digital locks that form a cornerstone of the current copyright bill. Other countries have adopted fair use or are considering the issue. Canada should do the same.

3. An equivalent for CDA Section 230 for Internet intermediaries is absolutely critical but would require provincial cooperation.

4. Removal of foreign investment and other competitive barriers in many of the sectors that touch on e-commerce. Moreover, foster a more competitive Internet environment with a set-aside for new entrants in the forthcoming spectrum auction. Note that Canada may have been the first with an online-only Netflix, but we also hold the dubious distinction of having had Netflix offer bandwidth reduced versions of its content due to data caps and high costs. The impact extends well beyond the consumer market as it directly affects e-commerce businesses as well.

Canada may have missed out on a generation of e-commerce leaders. We must not miss out on the next one.

Koshiyari doing nothing for rly line to Kumaon: Satpal Maharaj

Dehradun, November 3
Garhwal MP and Chairman of the Parliamentary Standing Committee for Defence Affairs Satpal Maharaj has accused BJP Rajya Sabha MP Bhagat Singh Koshiyari of making no efforts towards ensuring laying of foundation stone for the Bageshwar-Tanakpur railway line in the Kumoan region of the state.

Addressing a press conference in Dehradun, Satpal Maharaj said while he had successfully ensured that the Rishikesh-Karanprayag railway line project in Garhwal went in right direction, Koshiyari had so far done little to bring railway line to Kumaon. He warned Koshiyari to avoid resorting to misleading campaign on Rishikesh-Karanprayag line.

Maharaj said the BJP rather owed an explanation to the people of Uttarakhand as to why the Backward Regions Grant Fund was not being utilized in the state. He accused the Uttarakhand BJP government of failing to utilise central funds.

He disclosed that Congress president Sonia Gandhi would be reaching Karanprayag on November 9 to lay the foundation stone for the railway line.

He said the new railway line would ensure all round development of the hills. He said the Rishikesh-Karanprayag railway line would also help in highlighting the lesser-known tourism destinations of the state apart from the Char Dham. He said coming up of the Railways in the state would open new employment opportunities for the youth.

Uttarakhand first Indian state to pass Lokayukta Act

Dehradun, November 3

Giving 10 on 10 points to the Uttarakhand Lokayukta Act, the Leader of the Opposition in the Rajya Sabha, Arun Jaitley, said today that it would become a “model law” for other states and rising above party politics the Central Government too could in principle take up some points from it for their Lokpal Bill.

“We are proud of that the BJP government has become the first state in the country to adopt an effective Bill that is in keeping with the aspirations of the nation which is already in the midst of a full-fledged agitation against corruption launched by Anna Hazare and his team. Not only is the Lokayukta strong but also the procedure of appointing him is impartial. It will become a model law for the states. On a scale of 10, I would give 10 points to the Act,” said Jaitley while speaking with media persons. He was in Dehradun today in connection with a party function to collect and coalesce information on former Prime Minister Atal Bihari Vajpayee.

The BJP as the principal Opposition party had already kept its point of view in the House and it has been “the concerted opinion of the party that if need be, all the existing anti-corruption laws, including the Lokayukta, should be revisited,” he stressed.

He also said as and when the BJP-ruled states feel the need, the “Uttarakhand Lokayukta Act could be adopted by them as well”.

When he was asked to comment on Anna Hazare’s changed stand not to canvass against the Congress in the coming byelections and Assembly elections, Jaitley said: “I would not like to comment on it but I can say this much the agitation launched by Anna Hazare did manage to stir the consciousness of the people in the entire country,” he said.

On the controversy surrounding the visit of Congress chief Sonia Gandhi in connection with the stone-laying of the Rishikesh-Karanprayag-Chamoli railway project in Uttarakhand, Jaitley said:“As it is a national project and will usher in development in the state, in the fitness of things the Prime Minister should come for the ceremony,” he said.

‘Samarg Atal’ launched

DEHRADUN: With his eyes set on the next general elections, senior leader of the BJP Arun Jaitley tried to weave nostalgia by harking back to how popular former Prime Minister Atal Bihari Vajpayee was.

Narrating experiences from Vajpayee’s life, Leader of the Opposition in the Rajya Sabha Arun Jaitley said political acumen and quick decision-making were the hallmarks of Vajpayee’s personality.

“When comparisons are made with the present government and that of Vajpayee, his political acumen and not postponing any decision for another day stand out,” he said.

He was speaking at a function to mark the launch of “Samarg Atal”, under which the information on the works and speeches of Atal Bihari Vajpayee will be collected, in Dehradun today.

He said not only was the former Prime Minister a true democrat who ensured that intense consultations were held during the Cabinet meetings. 

Rs 1 lakh fine slapped on Uppal’s Marble Arch

Chandigarh, November 3
Coming down heavily on Delhi-based realtors, Uppal’s Marble Arch, the UT State Consumer Disputes Redressal Commission has directed the firm to pay Rs 1 lakh in compensation to a Panchkula couple for its failure to hand over the possession of an apartment at Mani Majra.

The commission, comprising Justice Sham Sunder, and member Neena Sandhu, also directed the opposite party to pay 12 per cent interest per annum on the already deposited amount of Rs 1,42,25,700, from April 1, 2009 till the actual date of handing over of the physical possession of the apartment to the complainant. The respondents have also been directed to pay Rs 5,000 towards the costs of litigation.

The complainants - Pawan Kumar Goel and his wife Anju Goel - submitted that they had jointly applied for the allotment of a residential apartment on November 17, 2006 in the project launched by the opposite party and deposited an amount of Rs 16,92,750 with the application form.

The opposite party issued the allotment letter on November 23, 2006 and further assured that the possession of the apartment would be handed over to the allottees on or before 30 months from the date of start of construction of the residential complex.

It was further stated that the construction had already started at the time of the execution of the agreement and later the opposite party requested the complainants to deposit the remaining amount. The complainants deposited Rs 1,42,25,700 as per schedule. However, the possession of the residential apartment was not handed over to the complainants within time.

The counsel for the opposite party averred that the delay occurred on account of the circumstances beyond the control of the opposite party and as per the agreement, they were entitled to extension of time for the delivery of physical possession of the apartment.

It was further stated that the physical possession was given to the complainants after the delay of 13 months from the date committed for the delivery of the same. Yet the delay occurred on account of circumstances beyond their control.

It was further stated that there was neither any deficiency in rendering services on their part, nor had they indulged in any unfair trade practice. He further submitted that the Chief Administrator, Chandigarh, issued the completion/occupation certificate on May 31, 2010.

He further submitted that since, there was a delay in issuing the completion/occupation certificate by the Chief Administrator, UT, Chandigarh, even though the opposite party had applied for the same in time, the latter could not be blamed.

The state commission observed: “It’s a matter of common knowledge that the builders in the first instance issue attractive and fanciful advertisements to attract gullible investors/purchasers and receive enormous amount from them.

Thereafter, they do not stick to the schedule of construction. They (respondents) were required to apply for the completion/occupation certificate much before the date committed for the delivery of physical possession. If, on account of their own wrong, they did not apply for the same or they could not apply for the same, as the project had not been completed by the date committed, the complainants could not be blamed for the same.”

PUDA scheme for own staff stayed by court

Chandigarh, November 3
The Punjab and Haryana High Court today stayed a PUDA scheme under which plots were to be alloted to its employees in the Mohali, Ludhiana, Patiala and Bathinda Urban Estates.

A Division Bench of Acting Chief Justice MM Kumar and Justice Rajiv Narain Raina stayed the operation of the PUDA circular dated September 24, 2010, inviting applications from its regular staff (with five years of service) for allotment of a plot each.

As per the scheme, Class-1 officers were entitled to plots of 14 marlas, Class-II officers to 10 marlas and Class-III to eight marlas. Class-IV staff were entitled to five marla plots. Challenging the move, advocate-cum-petitioner HC Arora contended that instead of acting as a custodian of public interest, PUDA was acting illegally at the cost of tax payers’ money.

The petitioner also brought to the notice of the Bench that PUDA had recently regularised a large number of daily-wage workers with retrospective effect from January 6, 2001, and had declared on June 7 that they too could seek allotment of residential plots.

The petitioner argued that PUDA was misusing the trust reposed in it by the public by unduly enriching its employees through the impugned scheme and also misusing the land acquired by it for public purposes.

Delhi-Ludhiana Shatabdi to chug off from today

Sangrur, November 3

The Delhi-Ludhiana Shatabdi train, which will traverse via Rohtak and Sangrur, will be flagged off by Minister of State for Railways KH Muniyappa from Ludhiana tomorrow. The Shatabdi, which has come about following an initiative of Ludhiana MP Manish Tewari, is in fact the restarting of an earlier service which ran for only three months in 2008.

Manish Tewari said the Shatabdi would be a boon for commuters of Ludhiana who wished to reach Delhi late in the evening to catch international flights. He said the reverse was also true for Punjabis coming from abroad as the train restarted on its journey back to Ludhiana early in the morning from Delhi.

Tewari claimed that the train had been temporarily routed through Rohtak-Sangrur because of congestion on the main Ambala trunk line.

The Railways authorities, however, claim that the Shatabdi is likely to continue plying on the Rohtak-Sangrur track. The Northern Railway General Manager SK Budhalakoti, when contacted, said the present route was a permanent arrangement. He said the route via Ambala was saturated and moreover it was the endeavour of the Railways to provide superior Shatabdi services to new places. “The present train is serving new points of Rohtak and Sangrur”, he added.

The Rohtak-Sangrur route is likely to increase the journey time because the Shatabdi cannot travel on high speed on it. There is only a marginal increase of 11 km as far as distance is concerned. The Railways GM said the train, which was presently scheduled to run for four days a week on Monday, Tuesday, Friday and Saturday, would start running for six days a week once the Railways got a new rake for the train.

Meanwhile, the Sangrur MP Vijay Inder Singla claimed he had submitted a written letter to the former Railway Minister Mamata Banerjee on the day she announced the train in the Railway Budget urging the train run through Sangrur. He said he had made a similar request to the Prime Minister who had acknowledged the same and assured him that he would look into the matter. He thanked both of them for providing this service to the Malwa region in Punjab. 

A New beginning l The Shatabdi will be a boon for commuters of Ludhiana who wish to reach Delhi late in the evening to catch international flights l The train has been temporarily routed through Rohtak-Sangrur because of congestion on the main Ambala trunk line l The train, which is scheduled to run for four days a week on Monday, Tuesday, Friday and Saturday, will start running for six days a week once the Railways gets a new rake.

Baba Ramdev bats for organic food in cancer belt Malwa

Bathinda, November 3

Adopting the first-ever village in Punjab, yoga guru Baba Ramdev today launched a drug de-addiction campaign at Laleana in Talwandi Sabo block of Bathinda. He also encouraged the villagers to take to organic food.

While interacting with the yoga guru, the villagers apprised him of the rampant problem of drug addiction in the village and how the menace was taking a toll on the residents’ health.

Exhorting the youth to take an oath of quitting drugs, Ramdev distributed boxes of ‘chyawanprash’ (health product) to the addicts. He has also decided to adopt nearby Jajjal village.

Talking about the unusually high incidence of cancer cases in Malwa belt, Baba Ramdev said pesticides alone could not be blamed for the catastrophe. He said the need of the hour was to give up chemical-intensive farming and adopt organic farming.

Encouraging the farmers to grow food without using chemicals, he said the practice would also help replenish soil nutrients and, thereby, boost agricultural economy.

Demanding setting up of Rashtriya Kisan Aayog (National Farmers’ Commission), he said at present the cost of input in agriculture was more than the output. “A small farmer earns little more than Rs 3,400 a month, which is even less than what house maids earn. Agriculture is no more a profit-making venture,” he added. 

'UPA shying away from Lokpal Bill' Baba Ramdev has alleged that the Congress-led UPA government was shying away from introducing the Jan Lokpal Bill in Parliament's winter session. He alleged the UPA government had also been giving fake assurances on recovering Indian money stashed in Swiss banks. "Nothing is being done on both the fronts and fake assurances are being given to Anna," he said.

'Petro prices being hiked arbitrarily’ The yoga guru alleged that the Union Government was arbitrarily time and again hiking the prices of petroleum products. He said, "While crude oil costs Rs 30 a litre, its processing and transporting cost is Rs 5-6 and Rs 4 is the profit earned for every litre. Petrol should not cost more than Rs 40 a liter…all being done to favour oil giants."

Indian experts devise simple test to detect fake Scotch

London, November 3
Indian-origin physicists in Scotland have developed a simple laser test that they claim can help detect counterfeit Scotch whisky from a sample no bigger than
a teardrop.
Three physicists at the University of St Andrews have devised a laser test to detect counterfeit Scotch and single malt whiskies, raising the possibility of clamping down on the fake liquor industry in India and elsewhere.
It is often remarked in Scotch whisky industry circles that more 'Scotch' is produced and sold in India than is produced in Scotland.
However, the Indian origin experts say the genuine Scotch can be detected from the fake one by using the power of lasers. Their research has been published in the journal Optic Express.
Using a ray of light the size of a human hair, the novel method can work out the brand, age and even which cask was used to create a single malt, from a sample no bigger than a teardrop, a university release said.
The research, which has been patented and is being presented to industry, was carried out by physicists Praveen Ashok, Kishan Dholakia and Bavishna Praveen.
Praveen explained: "Counterfeiting is rife in the drinks industry, which is constantly searching for new, powerful and inexpensive methods for liquor analysis. Using the power of light, we have adapted our technology to address a problem related to an industry which is a crucial part of Scottish culture and economy."
The research involves researchers placing a tiny amount of whisky on a transparent plastic chip no bigger than a credit card. Using optical fibres the width of a human hair, the whisky sample is illuminated by light using one fibre, and collected by another. — PTI

LIGHT WORK Using a ray of light the size of a human hair and a sample no bigger than a teardrop, the novel method devised by physicists Praveen Ashok, Kishan Dholakia and Bavishna Praveen can work out the brand, age and even which cask was used to create a single malt.

Spot-fixing: Pak’s tainted trio jailed

London, November 3
Former Pakistan captain Salman Butt and two of his teammates — pacers Mohammad Asif and Mohammad Amir — were today sentenced to jail for their role in the spot-fixing scandal, making them the first cricketers ever to be imprisoned for corruption.

On a day of dramatic developments for the cricketing world, Butt was sentenced to two-and-a-half years, Asif was handed a one-year term, while the 19-year-old Amir was sentenced to six months in the young offenders’ detention centre instead of jail.

Players’ agent Mazhar Majeed got the strongest punishment as he was sentenced to two years and eight months in prison by Justice Jeremy Cooke after a trial that ran for close to three weeks at the Southwark Crown Court here.

The convicted four can appeal against their sentences. Amir’s barrister Henry Blaxland QC said he intended to apply for bail later pending an appeal against his sentence.

“It is the insidious effect of your actions on professional cricket and the followers of it which make the offences so serious,” said Justice Cooke in his sentencing remarks. ”The image and integrity of what was once a game, but is now a business is damaged in the eyes of all, including the many youngsters who regarded three of you as heroes. These offences, regardless of pleas, are so serious that only a sentence of imprisonment will suffice,” he told the convicted quartet. The grim-faced players were immediately led out to prison from the courtroom. Butt, who apparently corrupted his teammates, was called the “orchestrator” of the scam that was revealed after a sting operation on Majeed by the now-defunct tabloid ‘The News of the World’ in August last year.

“It's clear you were the orchestrator of these matters. You had to be to make sure these two bowlers were bowling at the time of the fix,” the judge stated.

“As captain you influenced Amir at an age when he was just 18. Amir is a talented bowler, it was hard for him to resist as you were the captain. As captain you have perpetuated corruption.

You did terrible things, it is bad for cricket and bad for your country,” he said. “But you have been good to your family so you have been sentenced to a 30 months imprisonment.”

To Asif, Cooke said: “Whilst no money was found in your possession, it’s clear that you conspired to bowl a no-ball. There’s no evidence on your part of prior fixing but it's hard to see that this could have been an isolated incident.”

Cooke said he settled for a lighter punishment for Amir as he had pleaded guilty and had taken responsibility for his actions. “You have already accepted your responsibility for whatever you have done and also you come from a rural background and you were just 18 at that time. I am considering all that and I sentence you for six months, otherwise, it would have been nine months,” he said. Butt and Asif were found guilty of conspiracy to cheat and conspiracy to accept corrupt payments by a jury on Tuesday.

Petrol prices up by Rs 1.8 a litre

New Delhi, November 3
Oil companies yet again hiked petrol prices by Rs 1.8 per litre from midnight to offset the fall in rupee that has made imports of crude costlier.

After the increase, petrol in Delhi will cost Rs 68.64 a litre. The rates will vary in other cities according to local levies.

This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose to 12.21% for the week ended October 22.

State-owned oil firms Indian Oil, Hindustan Petroleum and Bharat Petroleum had earlier hiked petrol prices by Rs 3.14 a litre on September 16 when the rupee was ruling at about 48 to a US dollar. The local currency has depreciated further. The rupee today closed at 49.14/15 against the American currency.

The government had last June freed petrol from all price controls but the retail rates have not moved in line with cost as high inflation rates forced oil companies to seek 'advice' from the parent oil ministry before revising rates. 

Stallone stuntman dies on set

A stuntman has died and another is fighting for his life while filming on the set of Sylvester Stallone's new film "The Expendables 2" in Bulgaria. The stuntmen were filming a scene on an inflatable boat on Thursday (October 27) when the accident happened. Chinese-American Sun Nu O was rushed to hospital in the capital Sofia and according to the Head of Intensive Care at Tokuda Hospital, he was severely injured. SOUNDBITE: Dr. Georgi Simeonov, Head Of Intensive Care At Tokuda Hospital, saying (Bulgarian): "He is in a stable condition at the moment, breaths by himself, sociable, doesn't have complaints, well anaesthetized, but still there is a huge risk for his life." Police are still investigating the exact cause of the incident. Stallone and others stars of the action film were filming in a different location when the accident occurred. Other actors set to reprise their roles from the first "Expendables" include Bruce Willis and Dolph Lundgren. The movie is due for release on August 12. Cindy Martin, 
Source: Reuters

Secrecy surrounds new James Bond movie "Skyfall"

Daniel Craig will be back dodging bullets and vanquishing villains from China to Turkey in the 23rd installment of the James Bond film franchise, but the stars and director of "Skyfall" are keeping the who, what and how under wraps for now.

As previously announced, Oscar-winning director Sam Mendes directs his first Bond adventure, which celebrates its 50th anniversary in 2012 when Skyfall is released.

One of the few details Mendes revealed to more than 100 reporters from around the world at the film's London press launch were his cast and the locations of the blockbuster, which starts production on Monday.

Bond regulars Craig and Judi Dench, as his stern spymaster M, return to their roles, Spanish actor Javier Bardem plays the villain and French actress Berenice Marlohe and Britain's Naomie Harris are Bond girls.

All five were at the press briefing, where they were joined by Bond producers Barbara Broccoli and Michael Wilson.

In addition, Mendes said the latest installment in one of cinema's longest and most successful film franchises will feature Ben Whishaw "who will be playing a part I can't tell you about in scenes I can tell you nothing about.

"And Albert Finney, who will also be playing a part I can tell you nothing about in scenes that I can't really tell you about and Ralph Fiennes, who, similarly, I can give you very little information about."

Asked whether he had not named all of the characters the leading actors would be playing because Bond fans might recognize them, the "American Beauty" director replied: "They might do. On the other hand they might not."

What producers have confirmed is that Skyfall will take Bond on another action-packed mission to London, Shanghai, Istanbul and Scotland.

A press release gave a brief plot outline, saying Bond's loyalty to M is tested "as her past comes back to haunt her.

"As MI6 (British intelligence) comes under attack, 007 must track down and destroy the threat, no matter how personal the cost."

NO "AUSTERITY" BOND

Mendes and his producers sought to reassure fans that tough economic conditions in the real world would not make the fictional exploits of the suave superspy any less spectacular.

"It, I think, has all the elements of a classic Bond movie, including, to quell any rumors, a lot of action," Mendes said.

Wilson added: "I think it's in the same (cost) range as the last film and we really haven't had to change anything in the script. We haven't had to sacrifice anything."

The 22nd Bond movie, "Quantum of Solace," cost an estimated $200 million to produce, more than the previous installment and Craig's Bond debut "Casino Royale," which cost a reported $150 million.

Any extra outlay did not translate into higher ticket sales, however, with Casino Royale earning $594 million at the global box office and Quantum of Solace $586 million, according to website www.boxofficemojo.com.

Sony Pictures, part of Sony Corp, will distribute Skyfall, which is set to hit British theaters on October 26, 2012 and U.S. cinemas on November 9 after a studio bankruptcy put production on hold for months and the last movie earned mixed reviews.

Next year is the 50th anniversary of the series, which began in 1962 with Sean Connery -- breathing life into the character created by former intelligence officer and novelist Ian Fleming -- on Her Majesty's secret service in "Dr. No."

Debt-laden Metro-Goldwyn-Mayer Studios Inc, known for its roaring lion logo and behind some of Hollywood's most fabled films including "The Wizard of Oz," filed for bankruptcy in November last year.

But two months later it confirmed Bond 23 would hit theatres in November, 2012, and in April MGM and Sony announced they would co-finance and distribute the next two Bond movies.

Craig's first appearance as Bond in 2006 was hailed as a refreshing change in direction toward a tougher, more serious 007, and reviews were overwhelmingly positive.

Quantum of Solace fared less well with the critics, although positive reviews still outweighed the negative and both films were commercially successful.

When Craig was asked if he would continue in one of cinema's most recognizable roles for a few more years, Broccoli interjected and said: "Yes, definitely."

Greek Govt. in crisis, world tells Europe to fix crisis

Eurozone Crisis: Canada Urges 'Extraordinary Actions,' But No One Sure What Those Should Be

Greece's teetering government backed away from a proposed referendum on staying in the euro on Thursday, while European leaders talked for the first time of a possible Greek exit to preserve the single currency.

Fast-moving events in Athens overshadowed the first day of a summit of the Group of 20 major economies on the French Riviera, with world leaders anxiously urging Europe to take decisive action to halt its sovereign debt crisis.

Beleaguered Prime Minister George Papandreou said after an emergency meeting of his Socialist cabinet that his call this week for a referendum, which sparked panic on global financial markets, "was never a purpose in itself," and he would be happy if the vote were not held.

Papandreou said he had agreed to talks with the center-right opposition on a transitional government to implement a new EU/IMF bailout program. Early elections would follow.

At a torrid meeting in Cannes on Wednesday night, French President Nicolas Sarkozy and German Chancellor Angela Merkel warned Papandreou that Athens would not receive a cent more in aid until it met its commitments to the euro zone.

Greece was due to get a vital 8 billion euros installment this month and says it will run out of money in mid-December if it does not get the loan.

Political turmoil in Greece and uncertainty over the euro zone sent stocks and commodity prices tumbling in Asia, and fueled a rush into safe-haven German bonds. But markets rallied in feverish trading as the likelihood grew that Greece would not hold the highly risky referendum.

The European Central Bank also provided a surprise boost by cutting interest rates by 25 points to 1.25 percent and saying its policy of buying euro zone government bonds would continue for now in a limited scope to support its monetary policy.

The leaders of China, Russia and the United States pressed the Europeans to move swiftly to contain the debt crisis, with the United States urging Germany to relent and let the ECB play a greater role in financial firefighting, G20 sources said.

"Europe should aid itself. The European Union has everything for that today -- the political authority, the financial resources and the backing of many countries," Russian President Dmitry Medvedev said.

A senior G20 official said the group was assessing the cost of a possible Greek default and looking at the implications if Athens were to leave the currency bloc.

VENIZELOS REBELS

Earlier, Finance Minister Evangelos Venizelos broke ranks with Papandreou, saying Greece's euro membership was a historic achievement and "cannot depend on a referendum."

Dissident lawmakers in the ruling PASOK party spoke out against a referendum and called for a national unity government or early elections, casting doubt on whether Papandreou would survive the week in office. Some suggested former ECB vice-president Lucas Papademos should head such an administration.

Signaling a will to compromise, opposition leader Antonis Samaras called for a transitional government to lead Greece to early elections and said parliament should first ratify last week's 130 billion euro ($178 billion) bailout deal.

European Union leaders have long called for national unity in Greece in support of painful austerity measures needed to cut the country's crippling debt, expected to reach 160 percent of gross domestic product this year.

"We hope now that we may get the political consensus in Greece that has been lacking all along," an EU official said.

A cabinet minister said Papandreou would not resign for now but would await the result of talks with the main opposition New Democracy party.

Euro area leaders talked openly of a possible Greek exit from the 17-nation currency area, seeking to maximize pressure on Athens and preserve the euro in case of a "no" vote.

Merkel said on Wednesday night that while she would prefer to stabilize the euro with Greece as a member, the top priority was saving the euro, not rescuing the Greeks.

The chairman of euro zone finance ministers, Luxembourg Prime Minister Jean-Claude Juncker, said policymakers were working on possible scenarios for a Greek exit.

France's Europe minister, Jean Leonetti, said bluntly the euro could survive without Greece.

"Greece is something we can get over, something we can live without," he told RTL radio in an interview.

The specter of a possible hard Greek default and euro exit hung over the G20 summit, highlighting Europe's frailty and divisions just when Sarkozy had hoped to showcase his leadership of the world's major economies.

The summit had been meant to focus on reforms of the global monetary system and steps to rein in speculative capital flows and regulate commodities markets, but the shockwaves from Greece upended the talks.

U.S. President Barack Obama said after meeting Sarkozy that Europe had made some important steps toward a comprehensive solution to its debt crisis but now needed to flesh out and implement the plan quickly.

A disorderly Greek default would reverberate across the euro zone, engulfing big economies likeItaly and Spain, and potentially plunging the global economy into a recession.

CREDIT LINES?

At a meeting in Cannes, leaders of Germany, France, Italy, Spain and International Monetary Fund, European Central Bank and top EU officials explored ways of accelerating implementation of a euro zone anti-crisis package agreed on October 27.

That plan, which includes debt relief for Greece, a recapitalization of European banks and a leveraging of the bloc's rescue fund, was meant to stem the two-year old crisis before Papandreou's referendum call cast the bloc into turmoil.

Officials said the meeting focused on speeding up the creation of a firewall to protect other vulnerable euro zone states from the fallout from Greece.

The risk premium on Italian bonds over safe-haven German Bunds has hit euro-lifetime highs this week, despite European Central Bank buying of its bonds. Spain had to pay its highest yield since 2008 at a bond auction on Thursday.

Russia set to end 18-year wait to join WTO

* Russian negotiator says Moscow has accepted deal

* Georgia wants deal wrapped up by Nov. 10

* Deal with Georgia is last big obstacle to WTO entry

MOSCOW, Nov 3 (Reuters) - Russia is on the verge of ending its 18-year wait to join the World Trade Organization after accepting a trade deal with Georgia, the last big obstacle to membership of a club that will seal its integration into the global economy.

Russia's accession will be the biggest step in world trade liberalisation since China joined a decade ago, making its $1.9 trillion economy more attractive to investors 20 years after the collapse of the Soviet Union.

After nearly two decades of tortuous negotiations with the 153-member club, Russia's last challenge was to reach a deal with Georgia to stop its entry being blocked by the former Soviet republic with which it fought a short war in 2008.

Russia's top negotiator said Moscow had accepted the terms of a compromise deal proposed by Tbilisi on monitoring mutual trade, and Georgian President Mikheil Saakashvili hailed the deal as a "diplomatic victory".

President Dmitry Medvedev, speaking at the Group of 20 Summit in Cannes, said he hoped to have the "good news" of Russia's WTO membership tied up by the end of the year.

"The long-anticipated entry of Russia into the WTO would be a good contribution to our common cause" of liberalising trade and investment, Medvedev said. "It is fruitful to both us and our partners."

Georgian Deputy Foreign Minister Sergi Kapanadze, whose country does not have diplomatic relations with Russia, told Interfax news agency: "Everything should reach its conclusion ... by the 10th of November."

This is the date for a meeting of a WTO working group which can then draw up a final document for approval by WTO trade ministers in Geneva on Dec. 15.

Entry also needs the approval of Russian parliament, which is likely before an election next March that is expected to return Prime Minister Vladimir Putin to the presidency.

PUTIN SEES ECONOMIC GAINS

Russia's entry will secure membership of the biggest economy still outside the WTO and send a signal to companies and investors that Russia is starting to move closer to a rule-based system of doing business.

Putin can expect little in the way of electoral gains from an issue that analysts say does not interest voters.

But although he has shown signs of frustration with the long accession process, Putin has made clear he regards WTO entry as vital to fostering economic growth and development by attracting foreign investors and lowering trade barriers.

The World Bank says WTO entry could increase the size of the Russian economy by 3.3 percent in the medium term and 11 percent in the long term.

"WTO membership will have no immediate impact on economic growth, the day-to-day operations of Russia's corporations or on the risk premium investors apply to investment in the country," said Chris Weafer of Troika Dialog investment bank.

"However, membership does establish a powerful catalyst for a more serious approach to creating economic reform and industry efficiency."

Traders say a clear indication of a deal for entry could boost Russian stock markets by more than 5 percent, offering some potentially positive news for investors worried by volatility linked to theeuro zone debt crisis.

NEGATIVE IMPACT FOR SOME FIRMS

The WTO, which sets out to supervise and liberalise trade between its members and solve trade disputes between them, was once viewed by Moscow as an instrument of capitalist hegemony.

Opponents in Russia now say international companies will use their clout to stifle domestic producers although Russia says it has fended off attempts to split up gas monopoly Gazprom , the world's largest natural gas company.

Firms in aerospace, the auto industry and local manufacturers of tradable goods could suffer, analysts say.

"Concerns span fears about domestic industries losing against more competitive foreign counterparts, households finding it more challenging to adjust to the new environment, and Russia standing little to gain quantitatively," said Ivan Tchakarov of Renaissance Capital investment bank.

He dismissed the concerns as showing a lack of understanding of the size of the potential gains.

Georgia, which had been under pressure from its Western allies to reach a deal with Russia, offered what it called a final compromise trade agreement last week.

"We are happy that Georgia supported the draft agreement and that finally an agreement has been reached," Russia's WTO accession negotiator Maxim Medvedkov told Reuters by telephone.

Under a proposal worked out with Swiss mediation, Medvedkov said Russia had accepted the use of an independent company to audit data on trade between Russia, two rebel regions backed by Moscow, and Georgia.

"Russia and Georgia, as members of the WTO, would have to pass this data to an integrated database," Medvedkov said.

U.S. Report Accuses China and Russia of Internet Spying

WASHINGTON — American intelligence agencies, in an unusually blunt public criticism of China and Russia, reported to Congress on Thursday that those two foreign governments steal sensitive American technology over the Internet as a matter of national policy.


Both China and Russia hide behind the anonymity of proxy computers and dispersed routers in third countries to pilfer proprietary corporate information to accelerate their own economic development, according to the new intelligence assessment.

They have also targeted the computer networks of government agencies and universities, the report said.

American officials have for years hinted that China and Russia were leading suspects in the Internet theft of economic secrets, and those accusations have appeared as scattered commentary in government reports. Among many highly publicized episodes, Google has accused China twice in as many years of broad Internet intrusions targeting its users.

However, American officials, when pressed, have said that pinpointing the culprits remained difficult in cyberspace, and they also usually stressed that specific complaints of computer-network espionage were best raised in private government-to-government channels.

In contrast, the new intelligence study, compiled as a report to Congress on foreign economic and industrial espionage over the past two years, presents a pointed case that China and Russia are the leading actors in the Internet theft of economic secrets. Officials took pains to make sure journalists were alerted to its significance.

“The computer networks of a broad array of U.S. government agencies, private companies, universities and other institutions — all holding large volumes of sensitive economic information — were targeted by cyberespionage,” according to the report.

“Chinese actors are the world’s most active and persistent perpetrators of economic espionage,” it added. “Russia’s intelligence services are conducting a range of activities to collect economic information and technology from U.S. targets.”

The governments in Beijing and Moscow, and their intelligence services, contract with independent hackers to expand their capabilities and cloak responsibility for the computer intrusions, the report said.

Even friendly nations spy on the United States via computers. The report warns that “some U.S. allies and partners use their broad access to U.S. institutions to acquire sensitive U.S. economic and technology information.”

In addition, some of the efforts to steal American economic, technical and trade secrets are conducted by foreign corporations, by organized criminal groups and by individuals acting on their own.

Internet espionage exists within the United States, but it is subject to domestic criminal law, and intelligence officials underscored that the United States does not conduct economic espionage as a matter of national policy.

Most computer-network espionage against American economic targets has focused on these areas, according to the study: information and communications technology; assessments of supplies of scarce natural resources; technologies for clean energy and health care systems or pharmaceuticals; and military information, in particular maritime systems, unmanned aerial vehicles and airplane and space technologies.

The report is the collective assessment of 14 American intelligence agencies and was compiled by the Office of the National Counterintelligence Executive, which reports to the director of national intelligence.

Although it described the theft of economic and trade information as a national security threat, the study says there are no reliable estimates of the monetary value of the losses.

“Many companies are unaware when their sensitive data is pilfered, and those that find out are often reluctant to report the loss, fearing potential damage to their reputation with investors, customers and employees,” according to the study.

The report concludes with a series of recommendations for “best practices,” including strategies to determine how open a company needs to be on the Internet, programs for assessing threats from inside a company, efforts to more effectively manage data and an emphasis on network security and auditing.

That last category could include real-time monitoring of computer networks for intrusions, muscular software to protect files, the encryption of corporate information as well as better programs to authenticate users, such as biometrics, complicated passwords and questions with answers known only to authorized employees.