Asian shares crawl higher after firm China PMI

(Reuters) - Asian shares edged higher on Monday as further signs of a stabilizing Chinese economy boosted sentiment, but stagnant U.S. budget talks which threaten to derail the world's largest economy kept investors cautious and capped prices.

Investors will be eyeing more Asian data on Monday, manufacturing surveys from China, Korea and India, for further signs of economic recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS nudged up 0.2 percent to a fresh nine-month high, after closing at its highest since February 29 on Friday and ending November with a monthly gain of 2.1 percent.

Australian shares .AXJO rose 0.4 percent to a four-week high, led by miners after favorable Chinese manufacturing data at the weekend and expectations for a local rate cut this week to boost the economy.

South Korean shares .KS11 opened up 0.2 percent. On Saturday, data showed the country's exports posted their first back-to-back growth of the year.

Adding to hopes Asia's fourth-largest economy may be gradually improving, a private survey showed on Monday South Korea's manufacturing sector in November shrank for the sixth consecutive month but at a slower pace than in October.

"The KOSPI is expected to kick off the session in the positive territory because of data from here and China. But for the day, the index will be lackluster because of political wrangles over the fiscal cliff," Kim Hak-kyun, an analyst at KDB Daewoo Securities, said of Seoul shares.

Kim said an announcement by North Korea that it would carry out its second rocket launch of 2012 would have little impact on the stock market, as the geographical risk was nothing new to investors.

Japan's Nikkei stock average .N225 opened 0.4 percent higher, after closing Friday at a seven-month high and ending November up 5.8 percent for its best performance since February. .T

China's official manufacturing purchasing managers' index (PMI) rose to a 7-month high of 50.6 in November, following up on a preliminary private sector survey which revealed factory activity reviving to a 13-month high.

The results preceded the release later on Monday of a survey of the non-manufacturing sector, as well as HSBC's final PMI reading for last month.

"We believe that China's near-term outlook remains positive as the political uncertainties have dissipated after a smooth leadership transition," ANZ said in a research note.

A series of central banks including the Reserve Bank of Australia, the European Central Bank and the Bank of England, will hold their policy meetings this week. The monthly U.S. nonfarm payrolls data is due out on Friday.

ANXIETY GAUGE MIXED

Major stock market indexes closed little changed and Treasury yields slipped on safe-haven demand on Friday as the stalemate in U.S. budget talks fuelled concerns about slowing global economic growth.

European stocks, while ending slightly down on Friday, posted solid monthly gains, partly thanks to growing views that the worst of Europe's debt crisis is over.

The Euro STOXX 50 Volatility Index .V2TX, or VSTOXX, Europe's widely-used measure of investor risk aversion, fell to 16.26, a level not seen since mid-2007 on Friday.

Data from EPFR Global showed on Friday that investors pumped the most into U.S. stock funds in over a year, even as U.S. lawmakers sparred over the looming "fiscal cliff" of combined tax hikes and spending cuts, while worldwide, stock funds took in $14.86 billion in the week ended November 28, the second-largest total since 2008.

But the CBOE Volatility Index .VIX, which measures expected volatility in the Standard & Poor's 500 index .SPX, jumped 5.4 percent on Friday for its largest daily gain in two weeks, reflecting market anxiety over the ongoing budget talks and their impact on the U.S. economy.

The euro was up 0.1 percent at $1.2996, but retreating from Friday's high of $1.3029, its highest in nearly six weeks, pressured after Moody's downgraded the credit ratings on the European Stability Mechanism and the European Financial Stability Fund last week.

The dollar was up 0.1 percent at 82.43 yen, hovering near a 7-1/2-month high of 82.84 yen touched on November 22.

According to data from the Commodity Futures Trading Commission released on Friday, currency speculators in the latest week boosted short yen positions to the highest since the beginning of May, 2007, riding on speculation that a likely change in Japan's government would lead to more aggressive monetary easing.

Oil steadied, with U.S. crude futures up 0.1 percent to $89.03 a barrel.

Microsoft: 40 million Windows 8 licenses

8:49PM EST November 27. 2012 - SAN FRANCISCO — Microsoft has stepped up to prove naysayers wrong on early Windows 8 adoption.

Tami Reller, the software giant's new co-chief of the Windows division, told a Credit Suisse investor conference in Arizona on Tuesday that Window 8 upgrades are outpacing Windows 7 in its first month.

"The journey is just beginning, but I am pleased to announce today that we have sold 40 million Windows 8 licenses so far," she said in a presentation.

Microsoft's long-term outlook as operating system leader has come into question as PC sales slacken amid a consumer frenzy over tablets and smartphones from the likes of Apple, Samsung, Google and Amazon.com.

Windows 8 became available Oct. 26, but doubts about its extreme makeover raised uncertainty about its commercial appeal to big businesses. The Window 8 debut has required a major overhaul of both the software and company in a bid for mobile relevance.

This month, Microsoft reorganized its Windows unit that resulted in the departure of long-time veteran and Windows chief Steven Sinofsky.

Microsoft executives Reller and Julies Larson-Green were tapped to lead the division.

Golf might ban belly putters

How much stomach does it take to play professional golf?

That was the overriding question Tuesday at Sherwood Country Club in Thousand Oaks, where Tiger Woods and other PGA Tour pros were preparing for this weekend's World Challenge, which benefits Woods' charities.

The topic is the growing popularity of belly putters, where players use long putters with grips that rest against their stomachs.

The practice has been around for years, but it has now received substantial attention because three of golf's last five major tournaments were won by players using belly putters: Keegan Bradley at the 2011 PGA Championship, Webb Simpson at the 2012 U.S. Open and Ernie Els at this year's British Open.

Their success has prompted many young golfers to use belly putters as well, and that trend is thought to be one reason why the club might be banned as early as Wednesday by the U.S. Golf Assn. and its overseas counterpart, the Royal & Ancient.

Golf's two governing bodies have scheduled a joint news conference Wednesday morning that's expected to address the issue, and any ban is expected to be implemented in two to four years so players using belly putters can adapt to shorter putters.

At his news conference Tuesday, Woods reiterated that he's opposed to belly putters or any type of so-called "anchoring" of putters against the body.

Asked if his opposition might help lead to a ban, Woods replied, "I don't know if it carried any weight or not, but I just believe that the art of putting is swinging the club and controlling nerves."

Having one end of the putter at a fixed point, Woods said, "is something that's not in the traditions of the game. We swing all other 13 clubs, I think the putter should be the same. One of the things that I was concerned about going forward is the kids who get started in the game and [are] starting to putt with an anchoring system.".

Woods also argued against having separate sets of rules for pros and amateurs. "It's nice for amateurs to understand that they're playing by the same guidelines we are," he said.

Simpson and Bradley are playing in the World Challenge's 18-player field, and they said Tuesday that although they're not happy about a possible ban of belly putters, they don't plan to take legal action or otherwise contest it.

"I never said the word 'sue,' I never said the word 'legal action,' " Bradley said. "Somehow it got twisted around into that."

The governing boards "are doing what they think is best for the game and I respect that," Bradley said. "That doesn't mean I'm happy with the decision."

Simpson said he has already been practicing with a conventional short putter because "I expected this day to come, and so I just wanted to be ready."

Meanwhile, this will be the 14th World Challenge, which Woods has won five times, including last year. That helped propel him to a solid 2012 that included three PGA Tour victories.

But Woods — currently third in the world golf rankings, behind Rory McIlroy and Luke Donald — failed to win a major tournament this year. His last major win was the U.S. Open in 2008. So Woods still needs to win four more majors to tie Jack Nicklaus' record of 18.

Woods, who turns 37 on Dec. 30, has noted that Nicklaus won his final major, the 1986 Masters, at age 46. And when Nicklaus was Woods' current age, Nicklaus likewise had won 14 major tournaments.

Woods cited his pursuit of Nicklaus' record as one reason why he won't also play on the European Tour next year.

"I enjoy playing around the world and I still always will," Woods said, but he added that winning a major "feels incredible. It lasts with you and that's something that I would like to have happen again."

NaVorro Bowman wanted to keep playing alongside Patrick Willis

NaVorro Bowman couldn’t help himself. His five-year contract extension with the 49ers was not officially done Tuesday morning, but Bowman still felt compelled to share the impending news with fellow linebacker Patrick Willis. “He was excited,” Bowman said. “I wasn’t supposed to tell him, but I couldn’t keep it from him. He has a great deal to do with this, too, just playing beside him and him helping me through this season and last year.” Bowman’s previous contract runs through next season, and this extension carries him through 2018. It’s potentially worth $45.25 million over the five years, including $25.5 million in guaranteed money, according to the Associated Press. All four of San Francisco’s starting linebackers – Willis, Bowman, Ahmad Brooks and Aldon Smith – now are signed through at least 2015. Bowman, a third-round draft choice from Penn State in 2010, stepped into the starting lineup last season and quickly blossomed. He and Willis both earned first-team, All-Pro honors in helping the 49ers reach the NFC Championship Game. “I know he’s going to continue to play hard and continue to do all the things right to become an even better player,” Willis said. “We’re truly blessed to have him here for a long time and beside each other.” Bowman’s agent, Drew Rosenhaus, initially approached the 49ers last offseason. Rosenhaus said the sides were “pretty far apart” then, but they obviously closed the gap. Bowman will become one of the top-five paid players at his position, according to Rosenhaus. Asked why he wanted a contract extension now, Bowman said, “This is a very physical game. And whenever you have a chance to get a deal done, and it sounds good and everyone is comfortable with it, why not? It shows the organization trusts me and I’m just happy to be a part of it.” Willis also plans to cash in by getting Bowman to take him out to eat “somewhere nice. Super nice.”

NBA scores: Lakers beat Nets in Mike D'Antoni's debut, Knicks crush Hornets + By Tom Ziller on Nov 21, 8:03a

Kirby Lee-US PRESSWIRE

In Mike D'Antoni's L.A. debut, second half defensive effort got the Lakers past the Nets. In other action, the Knicks swamped a New Orleans team without Anthony Davis.

Lakers 95, Nets 90
In the first half of Tuesday's game, the Nets scored at will on the Lakers in Mike D'Antoni's debut. I'm sure we could knock you over with a feather duster. But L.A.'s defense tightening to the second half, holding Brooklyn to 32 percent shooting from the floor and 1-13 half from long-range (after the Nets shot 6-10 on bombs in the first two quarters). Dwight Howard set about denying Brook Lopez good looks after halftime -- the center had 17 points on 13 shooting possessions in the first half and six on six in the second. Howard himself had 23 points and 15 rebounds while going 7-19 from the line.
Knicks 102, Hornets 80
The Hornets were without Anthony Davis, who is day-to-day with a stress reaction. (I write that as if I have any clue what is actually means.) The Hornets stuck with the Knicks in the first half, and even led at a few points. But New York went about crushing New Orleans after halftime, running up a 30-16 third quarter win. Carmelo Anthony had 29 points in 28 minutes, including 19 in the first quarter. Austin Rivers was quite nice with 14 points, four assists and no turnovers.
Sixers 106, Raptors 98
Another crushing defeat for Toronto, who played well enough to win this game for 42 minutes. Unfortunately, the refs did not call the contest with six minutes left. Toronto led 92-86 midway through the fourth, and Philadelphia proceeded to go on an 18-4 run over four minutes to claim victory. Nick Young, Thad Young and a timely dagger from Jason Richardson did the trick. The Raps are 3-8.

Plaxico Burress returns to Steelers

Plaxico Burress visited the Pittsburgh Steelers on Tuesday for a workout. After head coach Mike Tomlin saw his conditioning, Burress was immediately signed. Burress spent the first five years of his career with the Steelers.
Last season, Burress played for the New York Jets. According to ESPN, even though Burress missed the 2009 and 2010 seasons, he was highly successful for the Jets. He had 45 receptions and eight touchdowns.
Burress is a highly versatile wide receiver. He’s able to utilize his 6-foot-5 height to his advantage and jump over cornerbacks for receptions.
During an after workout interview, the AP reported that Tomlin said about Burress, "He’s in really good physical condition based on the workout I just saw....He’s got very good body control for a big man. He can drop his weight at break points and obviously he’s no stranger to football."
This is very convenient for the Steelers because they were in need of a good receiver after Jerricho Cotchery fractured his ribs last Sunday. The Steelers have been struggling with injuries all year.

A movie review

A movie like The Man With The Iron Fists, with the tagline of “They put the F.U. in Kung Fu,” can really go either way. While such a tagline promises some cool fight scenes and much bad-assery, do the goods stop there? Also, can RZA from The Wu-Tang Clan direct? Hell yes, RZA can direct! While the film does lag at around the three-quarter mark, not only are its fight scenes awesome and bloody, but they are creatively shot and have great cinematography. This, in combine with a gleefully clever and referential script co-written by RZA and Eli Roth, make for a fun film that fits nicely within the film’s “presentor,” Quentin Tarantino’s, postmodernist pantheon. After all, there’s even a cameo from Pam Grier.
The film tells many stories, with all converging as various parties become involved in the seizure of the governor’s gold in the fictional town of Jungle Village in 19th Century China. Also one of the film’s main actors, RZA is the Blacksmith who forges high-quality weaponry for Jungle City’s various vicious gangs. Because, at the beginning of the film anyway, Blacksmith is able to provide a fairly omniscient narration as he is privy to all of the gang’s violent activities. Blacksmith is in love with the beautiful prostitute, Silk (Jamie Chung), who lives in The Pink Blossom brothel, run by the fiercely independent Madam Blossom (Lucy Liu). They are trying to save up enough money to blow town together, but Blacksmith is sidelined after the leader of the Lion Gang, Golden Lion (Kuan Tai Chen), is killed by his own as he is protecting the governor’s gold. Blacksmith must make weapons for the gangs as this overthrow by Silver Lion (Byron Mann) sets off a gang war as gangs fight to the death for ownership of the prized gold.
Blacksmith eventually joins forces with Gold Lion’s son Zen Yi, “The X-Blade” (Rick Yune), so named because of his suit of knives, and the lusty British emissary Jack Knife (Russell Crowe, in a wonderfully cheeky performance) as they try to avenge Golden Lion’s death and get the gold back to it’s rightful owners. A complication occurs when Blacksmith is captured by Silver Lion’s men and the seemingly indestructible Brass Body (David Bautista), so named because his body turns to brass when pummeled, cuts off Blacksmith’s arms. With Jack Knife’s aid, Blacksmith is resurrected, as he fashions “iron fists” that he controls is his innate “chi,” becoming the film’s eponymous hero.
Many fight scenes occur between the beginning and end of the film, and most are pretty spectacular. Arms are pulled out of the socket, people are cut in half, heads are kicked off bodies, necks are stabbed with shoe knives – the creative kills here are plenty. Borrowing from his mentor Tarantino, RZA combines a lot of different styles when shooting the fight scenes, running the gamut from black and white cinematography (accented by red blood), slo-mo action shots, even shooting a scene in a hall of mirrors. Perhaps the standout fight scene occurs toward the end of the film, as the prostitutes led by Madam Blossom, morph into the Black Widow gang and face off against the Lion Gang. One by one, the prostitutes seduce the gang members and stab them in the neck, subsequently tangling the survivors in web-like cloths and kicking much ass. This scene looks beautiful, also, with its vibrant pink background and shocks of color.
Performance-wise, the real standout here is Russell Crowe as Jack Knife. Hamming it up throughout, Crowe chews the hell out of the scenery as a robust man who bangs four prostitutes at a time, slices men named Crazy Hippo in half with his giant knife, and adds more butter to his dinners than Paula Deen would. Usually playing more slow-burn roles, Crowe really brings it in here in this departure of a role and makes you wish that he was in every scene. While almost playing a nicer version of her role in Kill Bill: Volume One, Lucy Liu also delivers in her sexualized, alpha female performance – she also excels at the fight scenes. RZA is somewhat lacking as an actor – he was probably better riffing off Bill Murray in Coffee and Cigarettes – but he’s just fine in this, really. The other actors act in an exaggerated fashion, as in real Kung Fu films, and that works here also.
The film does start to lose momentum around the three-quarter mark when we learn Blacksmith’s backstory and the action dies down, but picks it up in a big way at the end. Blacksmith’s past history as an escaped slave who landed in China grounds the film in history, which is almost at its detriment, since everything else about the film defies time and place. Nevertheless, The Man With The Iron Fists ultimately accomplishes what it set out to do, which was to “put the F.U. in Kung Fu,” to recreate a classic Kung Fu film and imbue it with gangsta swagger and kick ass action scenes. More importantly, as a filmmaker, RZA proves that he “ain’t nuthing ta fuck wit,” as he goes above and beyond expectations with his stylistic choices.