TSX ends flat as RIM buckles, gold miners bounce

TORONTO (Reuters) - Canada's main stock index ended little changed on Friday as gold miners gained on safe-haven buying amid U.S. budget uncertainty, while BlackBerry maker Research In Motion Ltd plunged more than 20 percent.
The index's materials sector, which includes miners, rose 0.4 percent. Even though the price of gold was near its lowest level in four months, the gold-mining sub-sector added 0.9 percent as investors fretted over stalled U.S. budget talks that could throw Canada's largest trading partner back into recession.
"As our tiptoes are over the (U.S.) fiscal cliff and we're looking over the abyss, the markets are upset obviously, and this is sort of putting a damper on the stocks," said John Ing, president of Maison Placements Canada.
"But we've had a mixed reaction in Canada, mainly because the resources have been much better, like gold for example, which is hedging into the uncertainty (around the budget talks)," he said, noting gold miners had been under pressure for the last two weeks.
Miner Barrick Gold Corp edged up 0.2 percent to C$33.29. Centerra Gold Inc jumped more than 3 percent to C$9.10.
Gold miners are playing catch-up after underperforming throughout the year and could rise further in 2013, said Gavin Graham, president at Graham Investment Strategy.
Shares of RIM dropped 22.2 percent to C$10.86 on fears that a new fee structure for its high-margin services segment could put pressure on the business that has set the company apart from its competitors.
The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> fell 3.01 points, or 0.02 percent, to end at 12,385.70. It gained 0.7 percent for the week.
Efforts to avoid the looming U.S. "fiscal cliff" were thrown into disarray on Friday with finger-pointing lawmakers fleeing Washington for Christmas vacations even as the year-end deadline for action edged ever closer.
Graham said that until a deal is reached in the U.S. budget talks, investors will avoid economically sensitive Canadian stocks and those most closely tied to the U.S. economy: auto parts manufacturers, forestry companies and resource stocks generally.
"The resource sectors in Canada, which is half of the index, is going to be adversely affected, correctly or not," he said.
"Chinese demand is likely to pick up somewhat now with the new leadership there but people will be focused on the U.S. given that it is still by far the most important export market for Canada."

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Apple’s New iPad Mini Is Pricey but That Won’t Deter Fans: TechCrunch’s John Biggs

It's officially here: The iPad mini, the subject of endless speculation and rumors over the past year, made its debut Tuesday at the California Theater in San Jose, Calif. The iPad mini starts at $329 and hits store shelves Nov. 2. Pre-sales begin Oct. 26. It boasts a 7.9-inch display, weighs 0.68 pounds and is 7.2mm thick. The design closely resembles the iPod Touch and comes in both black and white.
Related: Get Ready for a Big Week in Tech: Apple & Facebook Earnings, Mini iPad, Windows 8 & More
As is the case with all Apple products, there is an option to pay up for more hardware. Here are the price points:
$329 for 16GB
$429 for 32GB
$529 for 64GB
In mid-November Apple will roll out the Wi-fi and 4G mini for $459 for 16GB, $559 for 32GB, and $659 for 64GB.
The iPad mini screen measures 1,024x768, the same resolution as the iPad 2. It also includes a dual-core A5 processor, a front-facing FaceTime HD camera, Apple's "Lightning" connector and a 5-megapixel back camera. A fully charged iPad mini will get 10 hours of battery life.
Apple (AAPL) stock was trading nearly two percent lower after the iPad mini presentation.
Related: Why Apple's Stock is Dropping
John Biggs, East Coast editor of TechCrunch, says the Apple event lacked the shock and awe of previous product announcements.
"Everybody was expecting an iPad mini and we got an iPad mini," he says in an interview with The Daily Ticker. "To see an iPad mini pop up is no huge surprise."
Biggs says the new mini may be pricey but it would not deter Apple devotees and tech "dorks" from adding to their Apple collections. The smaller screen will attract consumers who use tablet devices for reading -- "it's Apple's e-reader" -- Biggs says, and the new mini is not likely to cut into sales of the larger iPad versions, which still feature bigger screens and a higher resolution display.
The starting price for the iPad mini is $130 more than the Kindle Fire HD and Nexus 7 — Apple's two main competitors in the e-reader space. Most Apple insiders and analysts were expecting a lower entry point for the mini, says CNET's Brian Tong, and consumer sticker shock could drag down sales expectations. The mini's price would have been even higher if Apple made it with a retina display, he adds.
"It will sell well but won't break records," Tong says. "It will sell because it's Apple. Never underestimate the Apple consumer."
Microsoft will unveil its first tablet device, Surface, next week.
Related: Microsoft Launches Its Own Tablet--and Admits Apple Was Right
Biggs says the Surface's size and user-face are more conducive to typing, an important feature for some consumers. The tablet market may be expanding but there's still only one winner, according to Biggs — Apple. "You're getting the premium product," he says.

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US economic growth improves to 2 pct. rate in Q3

The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending.
Growth improved from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday.
The pickup in growth may help President Barack Obama's message that the economy is improving. Still, growth remains too weak to rapidly boost hiring. And the 1.74 percent rate for 2012 so far trails last year's 1.8 percent growth, a point GOP nominee Mitt Romney will emphasize.
The report is the last snapshot of economic growth before Americans choose a president in 11 days.
The economy improved because consumer spending rose 2 percent in the July-September quarter, up from 1.5 percent in the second quarter. Spending on homebuilding and renovations increased more than 14 percent. And federal government spending expanded sharply on the largest increase in defense spending in more than three years.
Growth was held back by the first drop in exports in more than three years and flat business investment in equipment and software.
The economy was also slowed by the severe drought this summer in the Midwest. That sharply cut agriculture stockpiles and reduced growth by nearly a half-point.
The government's report covers gross domestic product. GDP measures the nation's total output of goods and services — from restaurant meals and haircuts to airplanes, appliances and highways.
The first of three estimates of growth for the July-September quarter sketched a picture that's been familiar all year: The economy is growing at a tepid rate, slowed by high unemployment and corporate anxiety over an unresolved budget crisis and a slowing global economy.
While growth remains modest, the factors supporting the economy have changed. Exports and business investment drove growth for most of the recovery, but are now fading. Meanwhile, consumer spending has ticked up and housing is adding to growth after a six-year slump.
Consumer spending drives nearly 70 percent of economic activity.
Businesses have grown more cautious since spring, in part because customer demand has remained modest and exports have declined as the global economy has slowed.
Many companies worry that their overseas sales could dampen further if recession spreads throughout Europe and growth slows further in China, India and other developing countries. Businesses also fear the tax increases and government spending cuts that will kick in next year if Congress doesn't reach a budget deal.
Since the recovery from the Great Recession began in June 2009, the U.S. economy has grown at the slowest rate of any recovery in the post-World War II period. And economists think growth will remain sluggish at least through the first half of 2013. Some analysts believe the economy will start to pick up in the second half of next year.

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Disney buying Lucasfilm for $4.05 billion

LOS ANGELES (AP) — Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind "Star Wars," from its chairman and founder, George Lucas. It's also making a seventh movie in the "Star Wars" series called "Episode 7," set for release in 2015, with plans to follow it with Episodes 8 and 9 and then one new movie every two or three years.
The Walt Disney Co. announced the blockbuster agreement to make the purchase in cash and stock Tuesday. The deal includes Lucasfilm's prized high-tech production companies, Industrial Light & Magic and Skywalker Sound, as well as rights to the "Indiana Jones" franchise.
Disney CEO Bob Iger said in a statement that the acquisition is a great fit and will help preserve and grow the "Star Wars" franchise.
"The last 'Star Wars' movie release was 2005's 'Revenge of the Sith' — and we believe there's substantial pent-up demand," Iger said.
Kathleen Kennedy, the current co-chairman of Lucasfilm, will become the division's president and report to Walt Disney Studios Chairman Alan Horn. Lucas will be creative consultant on new "Star Wars" films.
Lucas said in a statement, "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers."
The deal brings Lucasfilm under the Disney banner with other brands including Pixar, Marvel, ESPN and ABC, all companies that Disney has acquired over the years. A former weatherman who rose through the ranks of ABC, Iger has orchestrated some of the company's biggest acquisitions, including the $7.4 billion purchase of animated movie studio Pixar in 2006 and the $4.2 billion acquisition of comic book giant Marvel in 2009.
Disney shares were not trading with stock markets closed due to the impact of Superstorm Sandy in New York.

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Has Obama Been Good for Millionaires?

The question of whether Americans are better off than they were four years ago depends, of course, on the American.
For the 12 million unemployed, the answer is most certainly no.
But for many of America's millionaires, the answer may be more affirmative.
A new study from WealthInsight, the London-based wealth-research and data firm (and yes, they are non-partisan), showed that the United States added 1.1 million millionaires between Jan. 1, 2009 and the end of 2011, the latest period measured. There were 5.1 million millionaires in America at the end of 2011, compared with around 4 million at the end of 2008.
That works out to more than 1,000 millionaires a day under the Obama administration. (They defined millionaires as people with total net worth of $1 million or more, excluding primary residence).
(Read more: Rich Will Spend More Under Romney: Poll)
"It's true that Obama has been good for millionaires, at least in absolute terms," said Andrew Amoils, analyst at WealthInsight. "He certainly hasn't been bad for millionaires."
Amoils said that quantitative easing and financial bailouts especially helped the finance sector, which accounts for the largest share of millionaires. It also helped that markets recovered in 2009.
The timeframe is worth noting. Measured against the 2007 peak, when 5.27 million Americans had a net worth of at least $1 million, the nation lost 165,360 millionaires. Their combined wealth is down six percent, to $18.8 trillion from a peak of more than $20 trillion in 2007.
We don't know how 2012 will turn out, though if stock markets continue to strengthen, the millionaire count for 2012 is likely to increase. Wealth Insight says the number of millionaires in America will grow to more than six million by 2016, and their combined fortunes will jump 25 percent over the same period.
(Read more: Millionaires Give Nine Percent of Income to Charity)
Where did all the millionaires come from between 2008 and 2011?
Mainly from retail, tech and finance -- and in both blue and red states.
Of the sectors adding the largest number of people worth $30 million or more, the retail, fashion, and luxury goods sector ranked first. That was followed by energy and utilities, then tech, telecoms and finance. Transportation and construction saw the biggest drops.
The number of people worth $30 million or more grew 26 percent in Connecticut since 2008, 20 percent in Kansas, 12 percent in Michigan, showing that the wealth creation was nationwide.

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Obama Wins 2012 Election: Why Your Taxes Are Going Up

When President Obama and the new Congress begin to tackle important legislation and federal policy in January, one of the key issues will be how to reform America's byzantine tax code.
Obama campaigned on a platform to raise taxes on the wealthiest Americans, declaring that millionaires and billionaires need to "pay their fair share." The president proposed the highly controversial "Buffett Rule," which would make sure those individuals earning more than $1 million a year would pay at least 30% of their income in federal taxes.
Related: Do the Rich Have a Moral Obligation to Pay Higher Taxes? Gov. Jerry Brown Says 'Yes'
The top individual tax rate is currently 35% but few U.S. households and individuals actually pay that much; various tax deductions and loopholes reduce one's tax burden.
According to the Obama campaign, the richest 400 taxpayers in 2008 (who each made more than $110 million that year) paid an average income tax rate of just 18%. In 2009 over 20,000 U.S. households with more than $1 million in income paid a federal tax rate of less than 15%.
Obama has vowed to raise the top income tax rate for individuals to 39.6% and let the Bush-era tax breaks end for the highest income earners. The majority of Americans — those who are lower to middle class — could also see a 2% tax increase if Congress allows the temporary payroll tax holiday to expire at the end of the year.
Related: Here's Why Your Taxes Are Going Up 2% Next Year: Just Explain It
Nearly half of voters support raising taxes on incomes over $250,000, according to Tuesday night's exit polls.
Len Burman, a professor of public affairs at Syracuse University and a co-founder of the bipartisan Tax Policy Center, believes higher tax rates play just a small role in resolving the nation's budget woes.
"In the long term [Obama] is going to need to raise taxes on more than just the rich," Burman says in an interview with The Daily Ticker. "The budget problem isn't going to be solved without broader-based tax increases, preferably done in the context of tax reform and also serious entitlement reform. We're not going to be able to solve this on the tax side alone."
Burman, who recently co-wrote the new book "Taxes in America: What Everyone Needs to Know," says tax rates do not need to be raised for any income group if Congress and the White House would agree on one simple change: raising the capital gains rate, i.e. the profits from the sale of an investment. Assets, such as stocks, art or real estate, that are held for at least a year are currently taxed at a special 15% rate; Obama wants to raise that to 20%.
"The problem with a low tax rate on capital gains is not that it allows Mitt Romney and Warren Buffett to pay very low taxes but that it creates this huge opportunity for tax sheltering," he notes. "There's a whole industry that's devoted to coming up with these schemes. [Raising capital gains rates] could make the tax system more progressive and allow for lower tax rates" and a reduction in the deficit Burman says.
Obama's tax proposal also targets the Alternative Minimum Tax, the Estate Tax and as well as many personal tax credits and itemized deductions. Obama would make permanent the 2007 AMT patch and index it for inflation. He would raise the estate tax to 45% from 35% on estates worth more than $3.5 million. He would lower the corporate tax rate to 28% from 35% and provide a refundable $3,000 credit per added employee for companies that expand their workforce. He would tax carried interest as ordinary income.
Related: Corporate Tax Loopholes=Corporate Socialism: Pulitzer Prize Winner David Cay Johnston
A divided Congress refused to compromise with Obama during his first term and could very well dismiss the president's tax reforms for the next four years. Republicans are loathe to raise taxes by even a penny and Obama has said he would veto any budget bills that did not include tax increases. Neither party wants to raise taxes in a weak economy. But the options available for reducing the deficit and generating new revenue are few and far between.

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U.S. drops China's Taobao website from "notorious" list

 The United States on Thursday dropped a website owned by China's largest e-commerce company, Alibaba Group, from its annual list of the world's most "notorious markets" for sales of pirated and counterfeit goods.
Taobao Marketplace, an online shopping site similar to eBay and Amazon that brings together buyers and sellers, "has been removed from the 2012 List because it has undertaken notable efforts over the past year to work with rightholders directly or through their industry associations to clean up its site," the U.S. Trade Representative's office said in the report.
The move came just before an annual high-level U.S.-China trade meeting next week in Washington.
Taobao Marketplace is China's largest consumer-oriented e-commerce platform, with estimated market share of more than 70 percent. The website has nearly 500 million registered users, with more than 800 million product listings at any given time. Most of the users are in China, Hong Kong, Taiwan and Macao.
The U.S. Chamber of Commerce has called Taobao "one of the single largest online sources of counterfeits."
The Chinese Commerce Ministry strongly objected to Taobao's inclusion on the USTR's 2011 notorious markets list. A ministry spokesman said it did not appear to be based on any "conclusive evidence or detailed analysis.
Alibaba hired former USTR General Counsel James Mendenhall to help persuade USTR to remove Taobao from its list.
The Chinese company's bid to shed its "notorious" label won support from the Motion Picture Association of America, a former critic of Taobao, which praised its effort to reduce the availability of counterfeit goods on its website.
But U.S. software, clothing and shoe manufacturers urged USTR to keep Taobao on the list.
To stay off in the future, USTR urged "Taobao to further streamline procedures ... for taking down listings of counterfeit and pirated goods and to continue its efforts to work with and achieve a satisfactory outcome with U.S. rights holders and industry associations."
USTR said it also removed Chinese website Sogou from the notorious markets list, based on reports that it has made "notable efforts to work with rights holders to address the availability of infringing content on its site."
U.S. concerns about widespread piracy and counterfeiting of American goods in China are expected to be high on the agenda at next week's meeting in Washington of the U.S.-China Joint Commission on Commerce and Trade.
The 2012 notorious markets list includes Xunlei, which USTR described as a Chinese-based site that facilitates the downloading and distribution of pirated movies.
Baixe de Tudo, a website hosted in Sweden but targeted at the Brazilian market, was also put on the list along with the Chinese website Gougou.
Warez-bb, which USTR described as a hub for pre-release music, software and video games, was also included. The forum site is registered in Sweden but hosted by a Russian Internet service provider, USTR said.

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Online gambling companies struggle to clear EU hurdles

A partnership stuck on Friday between bwin.party Digital Entertainment and a Belgian casino group has defused one of many disputes pitting online gambling companies against governments across Europe.
The agreement came a month after bwin.party's co-CEO was questioned by Belgian authorities in an escalating license dispute the company said was costing it 700,000 euros ($916,000) in monthly revenue.
By joining forces with Belcasinos, a unit of local casino owner Group Partouche, bwin.party neatly met a requirement to have a presence in Belgium to win a license for online poker, casino and sports betting.
The agreement is a rare bright spot in a tough regulatory environment for online gambling companies across the continent.
Betting online on sports events or playing poker on the Internet are increasingly popular pastimes in Europe, where operators say they are held back by unfair and discriminatory rules in many European Union countries.
"It is not a European Union in any way, it is a patchwork of different countries who happen to be in the EU," said Professor Leighton Vaughan Williams, director of the betting research unit at Nottingham Business School in central England.
"Different countries have different vested interests and different ideas they are trying to promote. Are they trying to protect consumers or to maximize their tax take?" he said.
The 27 EU member states retain the right to regulate their gambling sectors as they see fit, but rules must comply with EU law, broadly meaning they must be consistent and proportionate.
Some companies are scaling back activities in European markets where, they say, regulatory risks are too high or tax rates are punitive.
Betting exchange operator Betfair for instance said this week it was halting marketing and investment in unregulated markets, including EU members Cyprus, Germany and Greece.
William Hill, Britain's largest bookmaker, has joined Betfair in pulling out of Greece and has also stopped offering sports betting to German residents because of a 5 percent turnover tax.
STAKES RISE
The stakes are high. Online gambling is growing at an annual rate of almost 15 percent in the EU and will be worth an estimated 13 billion euros ($17 billion) by 2015, according to EU figures.
The European Commission, the EU's executive, stepped in to the debate in October when it published a medium-term plan to clarify regulations and promote cooperation between member states, ruling out EU-wide legislation for the time being.
"All citizens must be adequately protected, money laundering and fraud must be prevented, sport must be safeguarded against betting-related match-fixing and national rules must comply with EU law," Internal Market and Services Commissioner Michel Barnier said, setting out his approach.
The online operators accuse the European Commission of failing to follow through properly on complaints lodged about regulation in no fewer than 20 or the 27 EU member states.
Barnier has written to member states accused of breaching EU law in the way they handle gambling, seeking an update on the situation by the end of the year.
However, the industry questions whether the EU will go into battle over gambling when it is facing so many other problems.
"They will chip away at some of the most blatant ones," said Clive Hawkswood, chief executive of trade body the Remote Gambling Association. "What we really need is for them to take some to the European Court and take enforcement action."
BRITISH TAXES
Gambling companies themselves have taken advantage of different tax regimes where they work in their favor.
This is illustrated in Britain, historically the biggest betting market in Europe and a place with a well-developed gambling culture where bookmakers have operated in town centers for 50 years.
In recent years, most betting companies have moved their British online betting operations to Britain's overseas territory of Gibraltar. There they are sheltered from a 15 percent tax on gross profit faced by operators based in Britain.
New legislation will close off that loophole after 2014. The shift to a taxation model based on the location of the consumer was expected to cost gambling companies as much as 270 million pounds ($435 million) by 2016-17.
Analyst Nick Batram at brokerage Peel Hunt said smaller players would likely be picked off because of the impact of higher tax and regulatory burdens across Europe.
"It is getting more complicated and more expensive. There is more change afoot but it should ultimately play into the hands of the better-capitalized companies."
In that vein, William Hill has provisionally agreed a 485 million pound takeover of smaller rival Sportingbet, keen to get its hands on the company's regulated Australian betting business.
"I think there is a lot more M&A activity to come," said Batram.

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Internet regulation seen at national level as treaty talks fail

The world's major Internet companies, backed by U.S. policymakers, got much of what they wanted last week when many nations refused to sign a global telecommunications treaty that opponents feared could lead to greater government control over online content and communications.
In rejecting even mild Internet language in the updated International Telecommunications Union treaty and persuading dozens of other countries to refuse their signatures, the U.S. made a powerful statement in support of the open Internet, U.S. officials and industry leaders said.
But both technologists and politicians fear the Internet remains in imminent danger of new controls imposed by various countries, and some said the rift that only widened during the 12-day ITU conference in Dubai could wind up hastening the end of the Net as we know it.
"If the international community can't agree on what is actually quite a simple text on telecommunications, then there is a risk that the consensus that has mostly held today around Internet governance within (Web-address overseer) ICANN and the multi-stakeholder model just falls apart over time," a European delegate told Reuters. "Some countries clearly think it is time to rethink that whole system, and the fights over that could prove irresolvable."
An increasing number of nations are alarmed about Internet-based warfare, international cybercrime or internal dissidents' use of so-called "over-the-top" services such as Twitter and Facebook that are outside the control of domestic telecom authorities. Many hoped that the ITU would prove the right forum to set standards or at least exchange views on how to handle their problems.
But the United States' refusal to sign the treaty even after all mention of the Internet had been relegated to a side resolution may have convinced other countries that they have to go it alone, delegates said.
"This could lead to a balkanization of the Internet, because each country will have its own view on how to deal with over-the-top players and will regulate the Internet in a different way," said another European delegate, who would speak only on condition anonymity.
Without U.S. and European cooperation, "maybe in the future we could come to a fragmented Internet," said Andrey Mukhanov, international chief at Russia's Ministry of Telecom and Mass Communications.
HARD LINE IN NEGOTIATIONS
Spurred on by search giant Google and others, the Americans took a hard line against an alliance of countries that wanted the right to know more about the routing of Internet traffic or identities of Web users, including Russia, and developing countries that wanted content providers to pay at least some of the costs of transmission.
The West was able to rally more countries against the ITU having any Internet role than agency officials had expected, leaving just 89 of 144 attending nations willing to sign the treaty immediately. They also endorse a nonbinding resolution that the ITU should play a future role guiding Internet standards, along with private industry and national governments.
Some delegates charged that the Americans had planned on rejecting any treaty and so were negotiating under false pretenses. "The U.S. had a plan to try and water down as much of the treaty as it could and then not sign," the second European said.
Other allied delegates and a U.S. spokesman hotly disputed the claim. "The U.S. was consistent and unwavering in its positions," he said. "In the end—and only in the end—was it apparent that the proposed treaty would not meet that standard."
But the suspicion underscores the unease greeting the United States on the issue. Some in Russia, China and other nations suspect the U.S. of using the Net to sow discontent and launch spying and military attacks.
Ror many technology companies, and for activists who are helping dissidents, the worst-case scenario now would be a split in the structural underpinnings of the Internet. In theory, the electronic packets that make up an email or Web session could be intercepted and monitored near their origin, or traffic could be subjected to massive firewalls along national boundaries, as is the case in China.
Most technologists view the former scenario as unlikely, at least for many years: the existing Internet protocol is too deeply entrenched, said Milton Mueller, a Syracuse University professor who studies Net governance.
"People who want to `secede' from that global connectivity will have to introduce costly technical exceptions to do so," Mueller said.
A more immediate prospect is stricter national regulations requiring Internet service providers and others to help monitor, report and censor content, a trend that has already accelerated since the Arab Spring revolts.
Jonathan Zittrain, co-founder of Harvard University's Berkman Center for Internet Society, also predicted more fragmentation at the application level, with countries like China encouraging controllable homegrown alternatives to the likes of Facebook and Twitter.
Zittrain, Mueller and other experts said fans of the open Net have much work to do in Dubai's wake.
They say government and industry officials should not only preach the merits of the existing system, in which various industry-led non-profit organizations organize the core Internet protocols and procedures, but strive to articulate a better way forward.
"The position we're in now isn't tenable," said James Lewis, a cybersecurity advisor to the White House based at the Center for Strategic and International Studies. "For us to say 'No, it's got be an ad hoc arrangement of non-governmental entities and a nonprofit corporation ... maybe we could get away with that 10 years ago, but it's going to be increasingly hard."
Lewis said the United States needed to concede a greater role for national sovereignty and the U.N., while Mueller said the goal should be a "more globalized, transnational notion of communications governance" that will take decades to achieve.
In the meantime, activists concerned about new regulation can assist by spreading virtual private network technology, which can national controls, Zittrain said.
Backup hosting and distribution could also be key, he said. "We can devise systems for keeping content up amidst filtering or denial-of-service attacks, so that a platform like Twitter can be a genuine choice for someone in China.

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Google could emerge unscathed from federal web search probe: WSJ

Google may not face any major repercussions from the Federal Trade Commission's (FTC) two-year-old anti-trust investigation into its web search business, the Wall Street Journal reported, citing people familiar with the matter.
The FTC might drop the investigation sometime this week based on voluntary changes Google will make to its search practices, rather than making the company sign a formal settlement called a consent decree, the Journal said.
The web search investigation examined whether Google tweaks its search results to disadvantage rivals in travel, shopping and other specialized searches.
Google will probably still be required to sign a consent decree for a separate federal investigation into the licensing of mobile-technology patents it acquired when it took over phone maker Motorola Mobility, the Journal said.
An end to the federal probe into Google's search business would allow the company to avoid getting mired in anti-trust investigations like rival Microsoft Corp endured in the early 2000s.
The European Commission, which is also probing Google, is expected to announce a decision next month.
The FTC declined to comment to the Wall Street Journal and could not be reached for comment by Reuters outside of regular business hours. Google could not be reached for comment by Reuters outside of regular business hours.

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