The Quickening

WHO Says H1N1 Pandemic Not Fake

The World Health Organization rejected as irresponsible allegations that swine flu is a fake pandemic.

WHO also dismissed claims it colluded with drug companies to bring economic benefit to the industry by playing up the danger of the new H1N1 influenza strain.

WHO officials will meet with the Parliamentary Assembly of the Council of Europe on Tuesday after the watchdog body questioned whether the U.N.'s health agency acted under undue influence.

China Denies Involvement In Google Hackings

China sharply rebuked the United States on Monday, denying involvement in any Internet attacks and defending its online restrictions as lawful after Washington urged Beijing to investigate an attack against Google.

The search engine giant announced on Jan. 12 that it would pull out of China unless the government relaxes its rules on censorship. The ultimatum came after Google said e-mail accounts of human rights activists critical of China had been hacked.

Since then, U.S. Secretary of State Hillary Rodham Clinton has criticized the censorship of cyberspace, drawing a strong counterattack from Beijing. The Foreign Ministry on Friday said her remarks damaged bilateral relations, while a Chinese state newspaper said Washington was imposing "information imperialism" on China.

On Monday, the Ministry of Industry and Information Technology went on the offensive again, saying the country's anti-hacking policy is transparent and consistent.

"Any accusation that the Chinese government participated in cyberattacks, either in an explicit or indirect way, is groundless and aims to discredit China," an unidentified ministry spokesman said, according to a transcript of an interview with the official Xinhua News Agency posted on the ministry's Web site.

The increasingly heated environment is likely to pose challenges to negotiating an arrangement that would suit both Google's and China's interests. The company says it remains optimistic it can persuade China's ruling party to loosen restrictions on free expression on the Internet, so it can keep doing business in the country. However, China's government has given little indication it's willing to budge.

The Communist Party's official People's Daily newspaper also accused the U.S. government of strictly controlling the Internet at home on Monday while urging other countries to build an "Internet freedom utopia."

"In reality, this 'Internet freedom' that it is marketing everywhere is nothing but a diplomatic strategy, and only an illusion of freedom," the paper said.

Xinhua also cited the State Council, China's Cabinet, as criticizing what it called interference in the country's domestic affairs. Internet control is considered a critical matter of state security in China. Beijing promotes Internet use for commerce, but heavily censors content it deems pornographic, anti-social or politically subversive and blocks many foreign news and social media sites, including Twitter and Facebook, and the popular video-sharing site YouTube.

Google said it had uncovered a computer attack that tried to plunder its software coding and the Gmail accounts of human rights activists protesting Chinese policies. The company traced the attacks on its computers to hackers in China, but hasn't directly tied them to the Chinese government or its agents.

A Chinese Internet security official questioned the allegation, saying Google had not reported its complaints to China's National Computer Network Emergency Response Technical Team.

"We have been hoping that Google will contact us so that we could have details on this issue and provide them help if necessary," Zhou Yonglin, the team's deputy chief of operations, said in an interview with Xinhua posted on the team's Web site.

Zhou said the team logged attacks on 262,000 Chinese computers last year by hackers implanting malicious software such as Trojans, which can allow outside access to the target's computer. More than 16 percent of the attacks came from computers located in the U.S., he said.

Monthly Home Sales Take Biggest Dip In 40 Yrs

Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.

The report reflects a sharp drop in demand after buyers stopped scrambling to qualify for a tax credit of up to $8,000 for first-time homeowners. It had been due to expire on Nov. 30. But Congress extended the deadline until April 30 and expanded it with a new $6,500 credit for existing homeowners who move.

December's sales fell 16.7 percent to a seasonally adjusted annual rate of 5.45 million, from an unchanged pace of 6.54 million in November, the National Association of Realtors said Monday. Sales had been expected to fall by about 10 percent, according to economists surveyed by Thomson Reuters.

The median sales price was $178,300, up 1.5 percent from a year earlier and the first yearly gain since August 2007. However, some of that increase could be due to a drop-off in purchases from first-time buyers who tend to buy less expensive homes.

Sales are now up 21 percent from the bottom a year ago, but down 25 percent from the peak more than four years ago.

The big question hanging over the housing market this spring is whether a tentative recovery will stumble after the government pulls back support. The Federal Reserve's $1.25 trillion program to push down mortgage rates is scheduled to expire at the end of March - a month before the newly extended tax credit runs out.

Last year, first-time buyers were the main driver of the housing market, but their presence is on the decline. They accounted for 43 percent of purchases in December, down from about half in November, the Realtors group said.

The inventory of unsold homes on the market fell about 7 percent to 3.3 million. That's a 7.2 month supply at the current sales pace, close to a healthy level of about 6 months.

Total sales for 2009 closed out the year at 5.16 million, up about 5 percent from a year earlier. That was the first annual sales gain since 2005. But prices fell dramatically last year, declining 12.4 percent to a median of $173,500, the largest decline since the Great Depression.

Though the results missed Wall Street's expectations, the Realtors' group says there are signs the market is finally stabilizing.

Many experts project home prices, which started to rise last summer, will fall again over the winter. That's because foreclosures make up a larger proportion of sales during the winter months, when fewer sellers choose to put their homes on the market.

Despite fears that home prices are starting to fall again, some analysts still believe the worst is over.