Vermont girl recovering from brain surgery in Boston

BOSTON — A 9-year-old girl whose friends from a Vermont music school traveled to Boston Children's Hospital so she could finish a holiday concert she'd been unable to complete after falling ill is recovering from surgery.

Sophie Fellows underwent surgery Friday to remove a brain tumor, the day after an emotional concert at the hospital.

Sophie had been stricken with severe headaches during a performance earlier this month and was unable to finish.

About two dozen of her fellow students and her teacher, Carolyn Bever, joined her in Boston on Thursday to finish the Christmas show. Sophie said it lifted her spirits.

Her family said in a statement that Sophie was smiling and talking after surgery, and even requested chocolate pudding.

Doctors say the week ahead will be critical in determine her recovery.

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US homebuilder sentiment slips in December

U.S. homebuilders are feeling slightly less confident in their sales prospects heading into next year, even as their overall sales outlook remains favorable.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped this month to 57, down one point from 58 in November.

Readings above 50 indicate more builders view sales conditions as good, rather than poor.

Builders' view of current sales conditions and their outlook for sales over the next six months also declined slightly. A measure of traffic by prospective buyers held steady.

The index also found sentiment had improved in the West and Northeast, but took a step back in the Midwest and South, which accounts for half of the new-home market.

The latest reading reflects a housing market that is slowly recovering, said David Crowe, the NAHB's chief economist.

"As we head into 2015, the housing market should continue to recover at a steady, gradual pace," Crowe said.

Housing, while still a long way from the boom of several years ago, has been recovering over the past two years.

New home sales reached a seasonally adjusted annual rate of 458,000 homes in October, the highest point since May. Still, sales remain sharply below the annual rate of 700,000 seen during the 1990s.

At the same time, home prices continue to climb.

The median price of a home sold in October was $305,000, up 16.5 percent from a year ago. November data on new-home sales are due out next week.

The steady rise in home prices has held back many potential buyers, particularly first-time buyers. Many lack the savings and strong credit history needed to afford a home, causing them to rent or remain in their existing homes instead of upgrading.

Tight credit and flat incomes also have limited the number of buyers who could afford a home.

In the latest NAHB index, which was based on responses from 375 builders, the index gauging current sales conditions for single-family homes slipped one point to 61. Builders' outlook for sales over the next six months also fell, shedding one point to 65. A measure of traffic by prospective buyers was unchanged from November at 45.

Though new homes represent only a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to NAHB data.

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Dutch watchdog demands privacy changes from Google

THE HAGUE, Netherlands — A Dutch privacy watchdog on Monday ordered Google to make changes to the way it handles users' personal data or face fines of up to 15 million euros ($18.7 million).

The College for the Protection of Personal Data announced it is giving the Internet giant until the end of February to comply with measures aimed at giving consumers in the Netherlands more clarity about how their personal information is used across the suite of Google services.

Jacob Kohnstamm, chairman of the organization, said Google's practice of combining data from different services to tailor ads and personalize services like YouTube "catches us in an invisible web of our personal information, without telling us or asking our permission."

The authority said Google must clearly ask users for permission to combine personal data from the company's different services and further amend its privacy policy so that users are "clearly and consistently informed" about what personal data is used by Google services.

Data Protection Agencies (DPAs) in six European countries, including the Netherlands, opened investigations into Google after it amended its privacy policy early in 2012.

"We're disappointed with the Dutch DPA's order, especially as we have already made a number of changes to our privacy policy in response to their concerns," said Al Verney, a spokesman from Google. "However, we've recently shared some proposals for further changes with the group of European DPAs and we look forward to discussing with them soon."

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Belgian strike paralyzes traffic, idles industry

BRUSSELS — A general strike paralyzed Belgium's air and rail traffic and idled scores of companies across the country Monday as trade unions capped a month of labor action against government austerity policies.

The strike targeted measures by the nation's business-friendly government to cut into employees' income, extend working time and restrict social services. They also protest the lack of additional capital gains taxes.

"We have not been heard so far," said Socialist trade union leader Rudi De Leeuw. There is talk of extending labor action into the new year, but concrete measures have yet to be put forward.

The strike had an immediate international impact since Brussels Airport, a busy hub with connections throughout Europe and beyond, had no traffic whatsoever. The high-speed rail links to London and France and the Netherlands were also scrapped for the day.

The series of labor actions, the toughest in years, started last month with a demonstration that drew some 120,000 protesters.

Airport spokeswoman Florence Muls said some 600 flights have been canceled, affecting 50,000 passengers. Going with the Thalys or Eurostar trains was no option either since the whole rail network was paralyzed.

Almost all activity at Antwerp port too was stopped for the day.

From early morning, striking workers started small fires at entrances to factories throughout the nation, discouraging people from working. Some small and medium sized businesses were able to operate normally.

Since regional strike action had already affected highways into the capital Brussels and major cities for the past three weeks, workers took the general strike in stride.

Masses worked from home and the expected traffic jams during the morning rush hour did not materialize.

Other EU nations also face labor action protesting measures that are widely seen as undercutting the vestiges of Europe's famed welfare state.

Tens of thousands of people demonstrated in several Italian cities last Friday to protest economic reforms that they say erode their social rights.

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Raf Casert can be followed on Twitter at http://www.twitter.com/rcasert

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Riverbed Technology accepts $3.6B takeover bid

SAN FRANCISCO — Private equity firm Thoma Bravo and a Canadian teacher pension will pay about $3.6 billion to take Riverbed Technology private a couple months after the computer networking equipment maker promised a thorough review of its business.

The San Francisco company said Monday that its stockholders will receive $21 in cash for each share from Thoma Bravo and the Ontario Teachers' Pension Plan. That represents a 12 percent premium to the stock's closing price Friday of $18.74

The company's shares jumped more than 9 percent after the deal was announced.

Riverbed Technology Inc. had said in October that its board would review ways to enhance shareholder value, and it planned to cut costs by up to $25 million to help improve its annual operating profit.

The company had rejected in January a $3.08 billion buyout offer from Elliott Management, saying it undervalued the company.

Elliott is one of Riverbed's biggest shareholders, with a 9.6 percent stake in the company, according to FactSet.

Elliott executive Jesse Cohn said in a separate statement Monday that his firm was "delighted" with the latest buyout offer, and they commend Riverbed's board for "taking this bold step."

Thoma Bravo focuses on technology-related investments. It said in September that it would spend about $2.5 billion to buy Compuware and take the software developer private.

Riverbed shareholders and government regulators still need to approve the deal, which is expected to close in the first half of next year.

Shares of Riverbed jumped 9.1 percent, or $1.71, to $20.45 Monday in morning trading, as broader trading indexes started off nearly flat. The stock had climbed only about 4 percent so far this year, as of Friday.

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Court rules for energy firm in class-action suit

WASHINGTON — The Supreme Court won't make it tougher for defendants in class-action lawsuits to transfer cases from state courts to more business-friendly federal court.

The justices on Monday ruled 5-4 in favor of a Michigan energy company that wanted to move a class-action case from Kansas state court to federal court without showing evidence that damages in the case would exceed $5 million. That is the minimum amount required for transferring such cases.

The case involved a group of royalty owners who sued Dart Cherokee Basin Operating Co. alleging they were underpaid royalties on oil and gas wells.

A federal judge refused to transfer the case without evidence of damages. A federal appeals court declined to consider an appeal, but the Supreme Court said the law does not require such evidence.

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Brian Williams renews contract with NBC news

NBC News said it has signed Brian Williams, the anchor of its evening newscast and the public face of the NBCUniversal-owned unit, to a new long-term deal.

No financial terms were offered, but the Los Angeles Times reported that the pact could be for as much as five years, and that Williams could receive as much as $10 million per year. Deal comes shortly after Williams' celebrated his 10th anniversary as anchor and managing editor of "The NBC Nightly News."

"Brian is one of the most trusted journalists of our time. He has led this organization through every major news event for the last decade, from Hurricane Katrina in his first year in the anchor chair to his exclusive interview with Edward Snowden this year, through elections, wars, natural disasters, tragedies and triumphs," NBC News prexy Deborah Turness said in a memo announcing the new deal. "In all of those cases he's taken 'Nightly News's' viewers to the heart of the stories that matter most in a way that's uniquely his."

"Nightly News" in recent months has faced a strong challenge to its ratings dominance rom the growth of ABC's "World News" following the anchor handoff from Diane Sawyer to David Muir in September. Williams took over NBC's flagship newscast in 2004 from Tom Brokaw.

Williams' renewal at NBC News was no surprise, even though his name has been mentioned for a range of possible other gigs ranging from the host slot on "Jeopardy" to latenight talkers. He's a frequent guest on "The Tonight Show Starring Jimmy Fallon," where he demonstrates his sense of humor with the "Slow Jamming the News" segment and other bits.

Here's a link to a video NBC News assembled to mark Williams' 10th anniversary on "Nightly News."

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC

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US stock slip after biggest weekly loss since 2012

NEW YORK — U.S. stocks are falling slightly in morning trading Monday following the market's biggest weekly loss in two and a half years. The Russian ruble hit a record low against the dollar.

KEEPING SCORE: The Standard & Poor's 500 index fell four points, or 0.2 percent, to 1,998 as of 11:14 a.m. Eastern. The Dow Jones industrial average dropped 43 points, or 0.3 percent, to 17,238. The Nasdaq composite fell 22 points, or 0.5 percent, to 4,632.

OIL: The price of oil moved lower, erasing an early gain. Benchmark U.S. crude fell $1.11, or 1.9 percent, to $56.71 a barrel on the New York Mercantile Exchange. Oil has fallen about half since June on waning global demand and abundant supplies. The recent drop to five-year lows has been roiling stock markets.

BUYOUT BOUNCE: Riverbed Technology and PetSmart are soaring on news that they each have agreed to sell to buyout funds. Riverbed, a maker of computer-network equipment, jumped $1.61, or 9 percent, to $20.35 after agreeing to a $3.6 billion sale to private-equity firm Thoma Bravo and a Canadian pension fund. Pet-supplies chain PetSmart rose $3.26, or 4.3 percent, to $80.92 after announcing Sunday that it had agreed to a $8.7 billion sale to a group of investors led by BC Partners.

FACTORY FIX: U.S. manufacturing output in November surpassed its pre-recession peak as auto production ramped up. The Federal Reserve figures are an encouraging sign that America's factories are somewhat insulated from the global economic slowdown.

RUSSIA'S PAIN: The ruble plunged 9 percent to 63.47 to the dollar. The ruble started the year at 32.85 to the dollar. The falling price of oil, which is the chief source of Russian exports and tax revenue, has weighed heavily on the currency.

EUROPEAN STOCKS: France's CAC 40 lost 1.6 percent and Germany's DAX fell 1.3 percent. Britain's FTSE 100 was down 1.1 percent.

JAPAN ELECTIONS: Japan's ruling coalition won in lower house elections Sunday, giving Prime Minister Shinzo Abe's Liberal Democrats up to four more years. However a business survey released Monday highlighted the challenges facing Abe's government, which is using large-scale monetary and fiscal stimulus to try to end two decades of stagnation. More than two-thirds of companies surveyed said the outlook for the coming quarter wasn't favorable.

THE QUOTE: "The fears around an oversupply of oil are refusing to go away ... resurfacing questions over the global economic recovery," said Jameel Ahmad, chief market analyst for FXTM.

ASIAN SCORECARD: Japan's Nikkei closed down 1.6 percent. Hong Kong's Hang Seng dropped 1 percent and Seoul's Kospi shed 0.1 percent. Australia's S&P/ASX 200 dropped 0.6 percent. China's Shanghai Composite reversed losses to close up 0.5 percent.

BONDS: Prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to 2.12 percent from 2.08 percent late Friday.

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London banker banned for dodging rail fares

LONDON — A London banker has been banned from working in the financial services industry after he was caught dodging rail fares.

The Financial Conduct Authority (FCA) said in a statement Monday that Jonathan Burrows has been banned for not being "fit and proper."

The former BlackRock director would board a train at Stonegate, a suburb nearly 60 miles southeast of London, for his daily commute and, after arriving at London's Cannon Street, pay only 7.20 pounds ($11.70) for the journey, instead of the full 21.50 pounds price that was required for that journey, railway officials said.

By boarding at a station without a ticket gate barrier, Burrows was able to use a loophole in the system of pre-paid transport passes. When arriving in London he touched out with his pass, which is only valid for travel within London, and was charged only 7.20 pounds. He should instead have bought a full ticket for traveling into the city from Stonegate.

Burrows paid 43,000 pounds ($67,000) in an out-of-court-settlement with Southeastern railways.

Michelle Ulyatt, a Southeastern spokeswoman, said the company believed Burrows was dodging fares for up to five years.

He was finally caught by inspectors at Cannon Street station on November 19 last year.

Burrows said in a statement Monday that he had apologized to all concerned. "I have always recognized that what I did was foolish," he said.

The amount the company asked Burrows to repay was based on its calculations on the basis of single fares.

This meant the settlement cost him around 20,000 pounds more than if he had bought season tickets.

Tracey McDermott, the FCA's director of enforcement and financial crime, said in a statement that Burrow's "conduct fell short of the standards" of a senior manager.

Burrows left his job as a managing director of BlackRock Asset Management Investor Services earlier this year after the fare-dodging was uncovered.

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Massachusetts gas prices down a dime

BOSTON — Massachusetts drivers continue to benefit from tumbling prices at the pump.

AAA Southern New England reports Monday that the cost of a gallon of self-serve, regular dropped a dime in the past week to an average of $2.68.

The current Bay State average is a quarter lower than a month ago and 75 cents lower than at this time last year, but still 13 cents per gallon above the national average.

AAA found self-serve, regular selling for as low as $2.48 and as high as $3.09 per gallon.

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