FOREX-U.S. dollar, yen gain on Europe debt woes

* Euro tumbles on Portugal, wider euro zone debt worries

Currencies

* Euro hits 8-1/2 mth low vs dollar

* Yen soars to near one-year highs vs euro

* US payrolls slip, but jobless rate falls, helping dollar (Updates, prices, adds comment)

By Gertrude Chavez-Dreyfuss

NEW YORK, Feb 5 (Reuters) - The U.S. dollar and yen gained on Friday as persistent worries about the euro zone's fiscal stability pushed investors further away from risky assets and sent the euro to an 8-1/2 month low against the greenback.

The cost of insuring the debt of Greece, Portugal and Spain against default hit record highs, according to CMA Data Vision, as Portugal backed a law that may further enlarge its swollen budget deficit. That caused further jitters and sent investors into traditional safe-haven assets, the euro hitting a near one-year trough against the yen.

"The market is nervous about contagion spreading in Southern Europe," said Dean Popplewell, chief currency strategist at FX brokerage firm OANDA in Toronto.

"You see that the sovereign debt of Greece, Spain and Portugal are all under threat and this is certainly weighing on the euro. So the directional trend in the dollar remains intact, with investors keen to take the dollar higher by default."

Fears about euro zone fiscal deficits overshadowed a key U.S. non-farm payrolls report for January, which showed job losses of 20,000, but a drop in the unemployment rate to 9.7 percent from 10 percent in December. See [ID:nN04115255].

Popplewell said investors seemed happy about the decline in the U.S. unemployment rate and that partly contributed to gains in the dollar.

In late afternoon trading, the euro EUR= fell 0.6 percent on the day to $1.3658 after falling as low as $1.3586, according to Reuters data, the lowest since May 2009.

For the week, the euro is on track to post a 1.4 percent fall at current prices, its fourth consecutive week of losses. The single European currency has tumbled around 10 percent from its December 2009 high around $1.5140.

The euro fell to 120.72 yen EURJPY=, the lowest since Feb. 24, 2009. It was last at 122.10, down 0.1 percent.

Investors tend to buy the yen and dollar in times of heightened risk aversion as they unwind trades in risky assets financed by both currencies' near zero interest rates.

"The dollar will benefit from the relative liquidity of the U.S. Treasury markets and the yen from Japan's low dependence on foreign financing," said Barclays Capital in a research note.

The ICE Futures' dollar index .DXY, a calculated measure which tracks the greenback's performance against a currency basket, climbed to 80.683, its strongest since July 2009. It last traded up 0.5 percent at 80.341.

Ongoing fiscal concerns in the euro zone cranked up implied volatility in the currency options market as one-week euro/dollar volumes EURSWO= traded as high 14.5 percent from 11.85 percent on Thursday.

Analysts said such a change on the day had not been seen since Lehman Brothers filed for bankruptcy in autumn 2008.

"The evolution of this (euro zone) crisis will have important bearing on the sustainability of the global recovery; a significant rise in general sovereign risk premium will constrain the ability of fiscal policy to respond aggressively to another downturn," Barclays said.

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Toyota Recall, Obama Budget: Week in Review

Feb. 5 (Bloomberg) -- Toyota Motor Corp.’s recalls of vehicles that may cause sudden acceleration and President Barack Obama’s proposed $3.8 trillion budget lead a review of the week’s stories on Bloomberg.com.

Click here for a special report on Toyota’s recall crisis. The world’s largest automaker has lost almost $34 billion in market value after recalls approached 8 million vehicles worldwide. Select the VIDEO tab above for coverage and analysis on Bloomberg Television.

Obama offered a budget that calls for $1.9 trillion of increased taxes on businesses and the wealthiest Americans over the next decade. Read more on the fiscal 2011 budget.

The most-read story on Bloomberg.com was an interactive graphic analysis previewing the U.S. government’s annual revision to employment figures. The revisions increased the number of jobs lost in the recession to 8.4 million.

Bloomberg BusinessWeek’s cover story, AT&T’s iPhone Mess, examines the consumer rebellion at Ma Bell after Apple Inc.’s handset swamped the phone company’s data network.

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Mayank Shekhar's Review: Striker

Set in the 1980s in Malvani, a claustrophobic ghetto of suburban Mumbai, Striker, directed by Chandan Arora is a gritty slice-of-life movie that never achieves its full potential. Remarkably shot and competently performed, the film is let down by a confused script that can't decide what point to make.

Rang De Basanti's Siddharth stars as Surya, a poor boy who aspires for a better life than the one he's currently living in a dingy shack that he shares with five members of his family. When his efforts to make a passport and land a job in Dubai prove fruitless, Surya has no choice but to use his superb carrom-playing skills to make a living. His friend Zaid (played by Ankur Vikal) introduces him to the local goon Jaleel Bhai (played by Aditya Pancholi) who runs illegal gambling and betting dens in the neighborhood, where Surya must play for big money. Expectedly his involvement with Jaleel Bhai gets him into trouble with the cops, distances him from his family, and ends not very nicely at all.

Striker scores full marks for authenticity -- for its accurate portrayal of the city's dark underbelly, for its use of real locations and for its consistent colloquial dialogue.

Director Chandan Arora does a bang-up job of creating entirely believable characters who you will care for. Like Surya's earnest elder brother (played by Anoop Soni) who repeatedly urges him to pursue a real job, however low-paying. Or his sister (played by Vidya Malavade) who is sympathetic and supportive but ultimately a mute spectator when he's banished from the house by the eldest sibling. Or even Zaid, his best friend and an occasional drug-dealer who's living life on the edge but is eternally optimistic and blessed with infectious enthusiasm.

The film falters eventually because it can't find its feet. There's a side-track about the communal riots which is never fully developed. There are two romantic tracks, the first entirely dispensable, the second too convenient. Surya's journey too comes off as half-baked, and his final voice-over which is meant to put things into perspective, leaves you entirely underwhelmed.

And that's a pity. Because Striker has so much going for it. Aditya Pancholi is appropriately menacing as the scar-faced villain; and Siddharth delivers an excellent performance as Surya, displaying vulnerability when required, or chocolate-boy charm when that is needed. From the physicality of his part to the emotional mind-space he must inhabit, Sidharth creates a fully flesh-and-blood character out of Surya.

Stealing the show, however, is Ankur Vikal who is extraordinary as the free-spirited, hyperactive Zaid. It's among the finest acting pieces you will see this year.

Despite Arora's solid efforts, the film loses steam well before the end credits roll. Although only two hours in running time, the movie feels endlessly long, and fails to culminate satisfyingly. I'm going with two-and-a-half out of five for director Chandan Arora's Striker. It's not a bad film by any measure, but it most definitely could've been better. Watch it for some excellent acting and for its gritty realistic feel.

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Buyer interest in Prius grows. Say what?

NEW YORK (CNNMoney.com) -- By now, you've heard that some 2010 Toyota Priuses have a braking problem blamed for several crashes. That sounds scary, but to some it sounds like a deal.

A recent analysis of online car shopping shows that more people are seriously looking at a Toyota Prius than before the problematic brake news was uncovered.
"When a car or automaker receives bad press, people sense an opportunity to pick up a bargain," noted Edmunds.com CEO Jeremy Anwyl. "We saw the same reaction from consumers when Chrysler and General Motors declared bankruptcy last year."

These shoppers may not actually want to buy a car with a potentially hazardous defect, of course. Shortly after the problem came to light, Toyota revealed that it had instituted a "running fix" on the Prius production line in Japan, so cars produced beginning some time in January don't have the problem.

Besides that, shoppers may be putting their faith in an eventual recall, too, said Edmunds.com spokeswoman Jeannine Fallon.

"There's still trust the automaker will have it taken care of if there is a problem," she said.

In the week leading up to the first news reports of an apparent problem, about 7.4% of those researching compact cars were considering a Prius. As of Thursday, after the news broke, 8.7% did.

Among those who seemed seriously ready to buy a compact car, 10.1% were looking hard at the Prius before the news. By Thursday, 11.2% were.

Some Prius owners complained that the brakes hesitated to work when traveling over rough or potholed roads.

Edmunds.com's data trackers gauge purchase intent by noting a user's on-line behavior. Certain behaviors, like pricing research, has a strong correlation to actual intent to purchase a car, Edmunds.com analysts have found.

It was revealed late Tuesday that Prius owners had lodged more than 100 complaints of a problem in which the car's brakes briefly hesitated to work on bumpy or potholed roads. As of Wednesday, four crashes had been alleged as a result of the problem. To top of page

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BSNL to start wimax service in NCR this month

BSNL and MTNL will set-up 10 new exchanges by the end of this financial year in the Noida and Greater Noida
NOIDA, INDIA: Bharat Sanchar Nigam Limited (BSNL) is all set to start its wimax service in the NCR this month and to begin with the service would be launched from Dhakor of Greater Noida, in Uttar Pradesh.

"BSNL will start wimax service in Dhankor by the end of this month. This would enable the subscribers to access high speed Internet access in the range of 15 kilometers from wimax tower," said Sachin Pilot, minister of state for IT and Communications at the review meeting of BSNL and Department of Post in Noida today.

Sachin Pilot added that the service would be extended to the other parts of the NCR such as Bisrakh, Dadri, Jewar and Jahangirpur in next financial year. All these places fall under UP (West) circle of BSNL.

BSNL and MTNL will set-up 10 new exchanges by the end of this financial year in the Noida and Greater Noida.

Pilot also mentioned that BSNL and MTNL will jointly set-up 25 new telecom towers in the next financial year to improve quality of service in Noida circle.

"With improved quality of service, I am expecting that both companies will add 25,000 new subscribers to their present subscriber base. BSNL at present has 75,000 subscribers and MTNL has 25,000 subscribers in Noida circle," said Pilot.

On the issue of telecom towers being sealed by Noida Authority, Pilot mentioned that authorities and companies should come up with solution to solve the issues faced by telecom consumers.

"Suffering of consumers is unacceptable. It should be the responsibility of everyone to take measures in order to reduce the problem of the common man. Since my ministry cannot directly intervene in to the matter, I would urge that Noida Authority and telecom companies should talk and come up with a reasonable solution that stops suffering of the consumers," said Pilot.

He mentioned that the Department of Telecom is waiting for TRAI's recommendation on telecom tower to form a national policy.

"At present, the issues related to telecom towers are under consideration at TRAI. Once TRAI completes its consultation and send us recommendation, then we will work out a national policy on telecom towers," said Pilot.

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DEEPIKA CALLING DEEPIKA

She has sacrificed her long, lustrous shampoo-ad locks for her new film Karthik Calling Karthik, releasing later this month. And it looks fab! Deepika Padukone tells t2 what it took to convince her to go under the scissors, how her character in the film is not like her at all and what it was like working with Farhan Akhtar.
What was your first reaction on learning that you needed to cut your hair for Karthik Calling Karthik?

Initially, I was nervous. I wasn’t very sure whether I wanted to cut my hair because I have always had long hair. I have always been associated with this simple girl next door. So, I did not know how this short hair would suit me. But I think it is the best decision that I ever made because on screen it looks great. I feel much better now.

What amount of convincing did it take to make you say yes?

Ah…it did take a lot of talking and convincing. After that we put on a wig to see how it would look. That’s when I was convinced that if I did cut my hair, it would suit me. Then we finally went on to cutting my hair.

Did you turn to anyone for advice?

Yeah, Mickey Contractor. He has done my make-up in the film. I have known Mickey ever since I have been a part of the industry. He knows my personality, the kind of face I have and my body type. So he had certain suggestions. Like I have a long neck, so the hair should not be too short.

Apart from that, I also trust Adhuna completely. I knew she would do it.

How did Adhuna Akhtar, the stylist, help?

She was very sweet. She got a wig first and cut it and then showed me how my hair would look.

Even through the process of cutting my hair, she was doing it as if she was doing a surgery. You know how they explain every step to you in a surgery…she made me very comfortable. She guided me through the whole thing.

Did the director (Vijay Lalwani) have a certain look in mind for the character? What is she like?

Sometimes there are certain characteristics that suit a person or their personality.

So, when I heard the narration, I pictured Sonali with short hair. I could not have imagined her with long hair. She is confident, ambitious, independent and focused. She speaks her mind. She is spontaneous.

After this, will you be open to more such experiments?

I already have short hair. I don’t know how much more I can experiment!

Who has styled you? What is your overall look in the film?

Niharika Khan has styled me. The look is very simple. The focus in the film is not the clothes. Although we have paid a lot of attention to what I am wearing, it is not the kind of film where one would come out and say, “Wow! I love what she is wearing!” If that happens, then somewhere we have gone wrong. It is not about the clothes and the make-up. It is about the performance. In a lot of the scenes, I showed up on the sets in the morning and my director would say, “I like what you are wearing today. Let’s shoot in this”.

Tell us about Karthik Calling Karthik…

It is a romantic thriller. It is about a boy called Karthik and how he goes about his daily life doing a regular nine-to-five job. Suddenly, he receives a phone call from someone who also claims to be Karthik. That one phone call changes his life.

Is it one of your most challenging roles so far?

In a way, yes. Sonali, in a lot of ways, is very unlike me. In the trailers, she is the one who always makes the first move and is more confident than the boy. In that respect I am very different from Sonali. I had to let go of a lot of my inhibitions.

What is Farhan Akhtar the co-star like?

It was a great learning experience. Bahut kuch seekhne ko mila. It was fun. He is a lot of fun on set. He is constantly cracking jokes and making people laugh.

Tell us something we don’t know about Farhan…

That he is extremely athletic!

Are you tired of answering questions about your personal life?

I don’t feel irritated. It’s just that I have reached a point in my career where my work should do the talking.

What’s next on the film front?

I have finished working on Housefull, a comedy directed by Sajid Khan. That will release in April. Then I have finished shooting for Ashutosh Gowariker’s Khelein Hum Jee Jaan Sey. I play a Bengali girl, Kolpona Dutta. See, I spelt it also like a Bengali, Kolpona! It is about the Chittagong uprising. I am styled like a Bengali, but not like the glamorous Bengalis usually portrayed in our films. It’s a very real Bengali look with a cotton khadi saris and three-fourth sleeve blouses. I am glad that I got the opportunity to work with someone like Ashutosh. I always wanted to do a period film. Who better to do a period film with than Ashutosh? It is a period thriller with Abhishek (Bachchan). That will come out in August. Now, I start shooting for Pradeep Sarkar’s next. It is a Yash Raj film and it is a love story. I am opposite Neil (Nitin Mukesh). Then I have a film called Break Ke Baad. That’s opposite Imran (Khan). That’s again a love story.

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Abhishek speaks on his 34th birthday

Abhishek who turns 34 on today doesn't feel his age at all. "Am I really 34? I feel I'm 23. That's the age that I came into movies. I feel the same anxiety and excitement facing the camera this birthday for Abhinay Deo's film as I did for J.P Dutta saab on my 23rd birthday." The year begins with the shooting of Abhinay Deo's film and ends with Prabhu Deva's film, a first for Abhishek since it would be his first full-fledged action flick.
Buzz up!
"I've done action films like Zameen, Dhoom and Run. But nothing like what Prabhu has planned for me," says Abhishek excitedly. "Yeah it's a wonderful year. And I better make sure I don't let my family myself and my audience down."


This has got to be Abhishek Bachchan's busiest year ever. He's just wrapped up Mani Ratnam
's Raavan and is in the process of wrapping up Ashutosh Gowariker's Khelein Hum Jee Jaan Se. He's now shooting for Abhinay Deo's film tentatively titled Crooked. Abhishek then jumps to Tarun Mansukhani's Dostana 2, followed by films with Rohan Sippy's, Abbas-Mustan, Anees Bazmee, Neeraj Pathak and Prabhu Deva…all to be released, shot or completed before the year is through.

Phew! So has Abhishek turned into a certifiable workaholic? Even on his birthday on Friday Abhishek was shooting. And his birthday was brought in on the sets of Crooked. "What to do? If I can't be with my immediately family for my birthday I can at least be with my extended family on the sets. I'm shooting round-the-clock. It's not a time when I can afford to be lackadaisical. Not when I've done television for the first time and discovered a terrific connectivity with the audience. The response to my TV show 'Bingo' has been overwhelming"

His television debut has boosted Abhishek's confidence. "I want to dedicate my 34th year to consolidating my career as an actor and building my rapport with the audience. I know I've the most exciting range of directors and assignments this year."

The last year Abhishek had a thinner work-load. He was shooting Raavan through most of the year. "And for a Mani Ratnam film giving up the experience of doing a variety of other roles is definitely worth the while. 2010 is relatively crowded with no space. And I'm enjoying every bit of it," says Abhishek emotionally.

Today Abhishek feels he is more equipped to face the camera than before. I remember shooting with J.P. Saab for my debut Refugee when I was 23. I was so raw and inexperienced. Today I'm in a position to contribute actively to the process of making the films that I am in. And I do. If I am not comfortable enough with a director to participate in the process of creating a film I'm working
in then I won't work with him."

After doing a serious bone-cruncher with Salman Khan, Prabhu Deva is all set to direct Abhishek Bachchan in an out-and-out action film. The film will have the kind of stunts that Abhishek or for that matter any other Bollywood actor, has never done.

The preparations are on. But Abhishek isn't talking about them. "Every year I try to make sure I'm working on my birthday. I don't know why. But to me shooting on my birthday is very comforting. Of course I love spending the day with my family. And as soon I pack up on Friday evening, I'm rushing home to be with my parents and wife. But it wouldn't be a happy birthday for me if I'm not working. Every year since I started my career in 1998, I've made sure that I'm shooting. Only last year I missed shooting on my birthday because I was in New York promoting Delhi 6. I hope to continue working on all my birthdays."


Abhishek Bachan

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Pawar under fire at CWC meeting

Pawar under fire at CWC meeting : NEW DELHI: The Congress Working Committee, which met in New Delhi on Friday to deliberate price rise, saw a sharp attack on NCP chief and
Agriculture Minister Sharad Pawar for failing to reign in the cost of essential items.

The development puts the government in a vulnerable position as it has given the Opposition an opportunity to attack the Centre at Saturday’s chief minister’s conference on the same issue. Blaming Mr Pawar for rising costs of essential items such as pulses, oil, vegetables, sugar and milk will see the focus of attack on the Centre.

Congress, which unofficially broadcast criticism of Mr Pawar’s handling of the agriculture ministry, employed the same tactic to hit out at its ally. "Work should be done a little more seriously...there should not be unnecessary warnings (about the scarcity of things)," a CWC leader said recalling the statements on price of sugar and milk made by Mr Pawar.

The source said Mr Pawar was not named but there was indirect criticism about his statement on the shortage of milk supplies. "If he speaks of it himself, then hoarding is bound to take place," a CWC member said. Congress sources indicated that Satyavrat Chaturvedi, who had earlier targeted Mr Pawar on sugarcane prices, was one of the leaders to have talked of Mr Pawar’s shortcomings.

Another leader speaking after the meeting was unsparing. "You know about the weather forecasts... we have a minister who adopts the same model. He talks of the rising milk prices and then they go up," the leader said, accusing Mr Pawar for having talked up prices.

The price rise issue dominated CWC proceedings, also attended by all chief ministers of the party. Congress president Sonia Gandhi opened the meeting by "expressing serious concern" about the issue. She raised issues such as the political situation in Telangana, celebrations for Congress' 125th anniversary, organisational polls and suggestions for the Budget 2010.

The PM who spoke at the end of the meeting 'painted an overall picture' according to one leader, and held the fact that India was doing "exceptionally well on the GDP front" as encouraging in the context of the impact of price rise on the poor.

Congress media department chairman Janardan Dwivedi said Mr Singh had talked of the various pro-poor schemes of the UPA government and their impact on the lives of the poor. "We are trying to control inflation...in keeping with the steps taken by the government in the last few years we were able to weather the global financial crisis and we will be able to progress in the same way," he said paraphrasing Mr Singh’s comments to CWC.

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India crashes out

India tasted its first setback of the 11th South Asian Games here on Friday. First the Indian football team bowed out in the semifinals losing to host Bangladesh 0-1 and later the men’s basketball team was beaten by Afghanistan in a rousing final 65-64.

At the end of the eighth day, India’s medal tally stood at 40 gold, 17 silver and 10 bronze medals. India earned eight gold, three silver and a bronze on Friday.

After stunning defending champion Pakistan 5-1 in the final group league match at Chittagong to qualify for the last four stage India’s elimination was an anti-climax. India will play for the bronze medal.

Egged on by vociferous spectators, the Bangladesh attacks came in waves but the inexperienced Indians held their ground for almost 85 minutes. When it seemed the match would go into extra time, Indian goalkeeper Gurpreet Singh Sandhu made a silly error by deflecting Abdul Baten Mojumder Komol’s low shot in the way of substitute Tawhidul Alam Sabuz who made no mistake.
Tragic

If the football team’s exit was sad, the defeat of the basketballers at the hands of Afghanistan in the final was tragic. Trailing 35-44 at half-time, the Indians made a remarkable recovery in the next two quarters to tie the score at 58-all. The Indians, 49th in the FIBA ranking, kept the pressure on and took the vital lead with four minutes to go.

Jagdeep Singh, who was the Indian playmaker, missed a couple of lay-up shots at the crucial minutes and this allowed the Afghanistan to sink in a two-pointer to regain the lead by one point.

Interestingly, Afghanistan had beaten India in the group league game and won its first gold medal of these Games. Bangladesh defeated Nepal 75-62 to take the bronze medal.

The Indian hockey team ensured its final entry with a 3-3 draw against Bangladesh. It will play Pakistan in Sunday’s final after the latter handed Sri Lanka a 2-0 defeat to qualify as the second team.

Kamaruzzaman (20th), Pushkor (30th) gave Bangladesh a 2-0 lead at half-time. V. Raghunath (52nd ) scored off a penalty corner, Mohammad Aamir Khan (59th) and Dharamveer Singh (67th) gave India the lead. But it was short-lived as Kamaruzzaman scored with 40 seconds to go to get the draw.

The host will take on Sri Lanka for the bronze medal.

Both the Indians, light-fly Amandeep Singh and fly weight Suranjoy Singh moved into the semifinals of the boxing event.

There will be another India-Pakistan final, this time in the squash team event on Saturday. Both India and Pakistan beat Nepal and Sri Lanka by 3-0 margins.

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Indian teams win badminton gold

Indian men and women bagged the team gold in badminton in the 11th South Asian Games at the Wooden Floor Gymnasium here on Monday.

With National champion Chetan Anand and Trupti Murgunde lending their experience to the side, their youthful teammates finished off both the finals against Sri Lanka in straight games.

The results: Men’s team final: India bt Sri Lanka 3-0 (Chetan Anand bt Niluka Karunaratne 21-12, 21-18; R.M.V. Gurusaidutt bt Dinuka Karunaratne 21-8, 21-18; Aditya Raviprakash bt Nuwan D.J. Hettiarachchi 21-10, 21-15).

Women’s team final: India bt Sri Lanka 3-0 (Sayali Gokhale bt Thilini S. Jayasinghe 21-4, 21-11; Trupti Murgunde bt Renu C.D. Hettiarachchige 21-9, 21-13; P.C. Thulasi bt Achini N. Rathnasiri 21-13, 21-17).

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