Tuesday, January 31, 2012

GOP Highway Bill Does What Stimulus Failed to Accomplish (ContributorNetwork)

COMMENTARY | It met with a resounding failure last year in a bipartisan attempt to reduce the federal debt, but House Republicans plan to unveil a trimmed-down, $260 billion transportation bill today. It's about time some thought was given to repairing roads, bridges and highways by Congress.

The massive five-year spending bill is likely to sail through the GOP-led House, Reuters reported. But opposition in the Senate will be the stumbling block. Senators are touting a two-year, bipartisan deal that might be workable in both chambers. Regardless of which plan advances, construction jobs are a sure bet.

While I opposed the federal bailouts, this type of bill should have been the main focus when it was done, as it would have made essential infrastructure repairs and provided thousands of jobs. Construction jobs have a snowballing effect on the economy and should have been the starting point in stimulating the job market.

But, that was the past.

President Barack Obama even agreed with the need to address transportation issues. "So much of America needs to be rebuilt," the president said during his State of the Union Address. "We've got crumbling roads and bridges." If Congress can gather the wherewithal to actually pass this bill in the discombobulated environment of election year politics, then there might be some good to come from it.

Funding the project will draw from the Federal Highway Trust Fund, so no new taxes are anticipated on a subject that typically draws bipartisan appeal, the Washington Post reported.

But the game changer will come if Republican leaders decide to tack the Keystone XL pipeline project inside the bill. Obama needs political cover from his environmentalist supporters this year, so he's probably not going to give on that issue.

End result: Probably little chance of passing this bill (or any other major legislation) through Congress this year. With the public's expectations so low, maybe Congress will impress us and actually accomplish something of significance. But I'm not holding my breath.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ac/20120131/pl_ac/10908171_gop_highway_bill_does_what_stimulus_failed_to_accomplish

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Monday, January 30, 2012

Gingrich wants panel to look at in vitro clinics

Republican presidential candidate, former House Speaker Newt Gingrich, left, and his wife Callista, center, arrive at Exciting Idlewild Baptist Church, Sunday, Jan. 29, 2012, in Lutz, Fla. (AP Photo/Matt Rourke)

Republican presidential candidate, former House Speaker Newt Gingrich, left, and his wife Callista, center, arrive at Exciting Idlewild Baptist Church, Sunday, Jan. 29, 2012, in Lutz, Fla. (AP Photo/Matt Rourke)

(AP) ? Republican presidential contender Newt Gingrich called Sunday for a commission to study the ethical issues relating to in vitro fertilization clinics, where infertile women receive treatment to get pregnant and large numbers of embryos are created.

"If you have in vitro fertilization you are creating life. And therefore we should look seriously at what should the rules be for clinics that do that because they're creating life," said Gingrich, who opposes abortion and says life begins at conception.

Gingrich, who is campaigning for votes in Tuesday's Florida primary, did not expand on his proposal for a commission. His remarks seemed to open the possibility of a larger federal role over IVF clinics across the country than currently exists.

Standing outside the Exciting Idlewild Baptist Church, where he had attended Sunday worship services, Gingrich also said he opposes the use of leftover embryos for stem cell research, which advocates say offers the hope of treatments or even cures for a variety of diseases.

The issue of stem cell research has become politically charged over the past decade, as scientific technique has advanced.

Former President George W. Bush, who opposed abortion rights, signed an executive order in 2001 that said federal funds could be used for stem cell research only on lines that were already in existence, which scientists subsequently said had been compromised.

President Barack Obama, who supports abortion rights, jettisoned Bush's restrictions on federal funding for stem cell research after taking office.

In vitro fertilization involves creating an embryo outside a woman's body, then implanting it inside the womb. Excess embryos may be stored at the clinic, discarded, used for research or made available to other couples. A study nearly a decade ago estimated there were as many as 400,000 in existence.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-29-US-Gingrich-Embryos/id-96e47fb4e32a41b39e6a792a23449f31

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Sunday, January 29, 2012

Tibet protester tells China cops: Come get me

A young man posts his photo with a leaflet demanding freedom for Tibet and telling Chinese police, come and get me. Protesters rise up to defend him, and demonstrations break out in two other Tibetan areas of western China to support the same cause.

Each time, police respond with bullets.

The three clashes, all in the past week, killed several Tibetans and injured dozens. They mark an escalation of a protest movement that for months expressed itself mainly through scattered individual self-immolations.

It's the result of growing desperation among Tibetans and a harsh crackdown by security forces that scholars and pro-Tibet activists contend only breeds more rage and despair.

That leaves authorities with the stark choice of either cracking down even harder or meeting Tibetan demands for greater freedom and a return of their Buddhist spiritual leader, the Dalai Lama ? something Beijing has shown zero willingness to do.

"By not responding constructively when it was faced with peaceful one-person protests, the (Communist) party has created the conditions for violent, large-scale protests," Robbie Barnett, head of modern Tibetan studies at New York's Columbia University, said.

China to again close Tibet during sensitive period

This is the region's most violent period since 2008, when deadly rioting in Tibet's capital Lhasa spread to Tibetan areas in adjoining provinces.

Flooded with troops
China responded by flooding the area with troops and closing Tibetan regions entirely to foreigners for about a year. Special permission is still required for non-Chinese visitors to Tibet, and the Himalayan region remains closed off entirely for the weeks surrounding the March 14 anniversary of the riots that left 22 people dead.

Video smuggled out by activists shows paramilitary troops equipped with assault rifles and armored cars making pre-dawn arrests.

Video: Dalai Lama to US: ?Keep your spirit? (on this page)
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Huge convoys of heavily armored troops are seen driving along mountain roads and monks accused of sedition being frog-marched to waiting trucks.

For the past year, self-immolations have become a striking form of protest in the region. At least 16 monks, nuns and former clergy set themselves on fire after chanting for Tibetan freedom and the return of the Dalai Lama, who fled to India amid an abortive uprising against Chinese rule in 1959.

Report: Body paraded afer China self-immolation

China, fiercely critical of the Dalai Lama, says Tibet has been under its rule for centuries, but many Tibetans say the region was functionally independent for most of that time.

In a change from the individual protests, several thousand Tibetans marched to government offices Monday in Ganzi prefecture in Sichuan province.

Police opened fire into the crowd, killing up to three people, witnesses and activist groups said.

On Tuesday, security forces opened fire on a crowd of protesters in another area of Ganzi, killing two Tibetans and wounding several more, according to the group Free Tibet.

Slideshow: The Dalai Lama (on this page)

On Thursday in southwestern Sichuan province's Aba prefecture, a youth named Tarpa posted a leaflet saying that self-immolations wouldn't stop until Tibet is free, the London-based International Campaign for Tibet said.

He wrote his name on the leaflet and included a photo of himself, saying that Chinese authorities could come and arrest him if they wished, group spokeswoman Kate Saunders said in an email.

Too sensitive to discuss
Security forces did so about two hours later. Area residents blocked their way, shouting slogans and warning of bigger protests if Tarpa wasn't released, Saunders said. Police then fired into the crowd, killing a a 20-year-old friend of Tarpa's, a student named Urgen, and wounding several others.

The incident, as with most reported clashes in Tibetan areas, could not be independently verified and exact numbers of casualties were unclear because of the heavy security presence and lack of access. The topic is so sensitive that even government-backed scholars claim ignorance of it and refuse to comment.

The government, however, acknowledged Tuesday's unrest, saying that a "mob" charged a police station and injured 14 officers, forcing police to open fire on them. The official Xinhua News Agency said police killed one rioter and injured another.

Q&A: The Dalai Lama, China and Tibet

"The Chinese government will, as always, fight all crimes and be resolute in maintaining social order," Foreign Ministry spokesman Hong Lei said in comments on the incident.

The harsh response points to a deep anxiety about the self-immolations, said Youdon Aukatsang, a New Delhi-based member of the Tibetan parliament-in-exile.

"They're worried that there is an underground movement in Tibet that is coming to the surface," she said.

Slideshow: The dance of two giants (on this page)

Tibetan desperation has been fed both by the harsh crackdown ? security agents reportedly outnumber monks in some monasteries ? along with a deep fear that the Dalai Lama, probably the most potent symbol of Tibet's separate identity, will never return.

The 76-year-old Nobel Peace Prize laureate handed his political powers to an elected assembly last year.

That was intended to ensure the Tibetan cause would live on after him, but was met with considerable anxiety among many Tibetans who saw it as a sign he was giving up his role as leader of their struggle.

Dibyesh Anand, a Tibet expert at London's University of Westminster, said resistance to Chinese rule is likely to grow more fierce.

"Protests will get more radicalized since the Tibetans in the region see no concession, no offer of compromise, no flexibility coming from the government," he said.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/46172845/ns/world_news-asia_pacific/

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Saturday, January 28, 2012

mikeyott: Former Apple Exec: We Knew About Worker Abuse In China And Ignored it: http://t.co/FOVs46wY #apple #ipad #iphone

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Friday, January 27, 2012

Calif. poised to vote on new 'clean car' regs

(AP) ? California is poised to vote on new rules that would require automakers to build cars and trucks by 2025 that emit about three-quarters less smog producing pollutants and also mandate that one of every seven new cars sold in the state be a zero emission or plug-in hybrid vehicle.

The California Air Resources Board will begin hearing testimony Thursday in Los Angeles on its "Advanced Clean Car" program, and is expected to continue on Friday.

The new emissions standards, which also include big cuts in greenhouse gas pollutants, would begin with new cars sold in 2015, and get increasingly more stringent until 2025. Generally, the regulations would require a 75 percent reduction in smog emissions in new cars by 2025, and a 34 percent reduction in greenhouse gas emissions over roughly the same time.

The new rules will continue the state's first-in-the-nation greenhouse gas emissions standards for cars and trucks, which went into effect in 2009. This time, the greenhouse gas reduction element of the program was designed with the federal regulators so that it will match national standards expected to be passed later this year.

"When we did the first greenhouse gas standards, it was war," said Tom Cackette, deputy director of the board, referring to legal challenges from auto dealers and business groups after the state passed the initial greenhouse gas emissions limits.

"They sued us in two federal courts. Fortunately, from our viewpoint, they lost. Over that time, with the increase in gas prices, the shake-up in the auto industry brought new management which looked at the future. Where's our future? It's not profits next quarter but how do we make a sustainable business."

California's smog emissions standards are often more strict than federal ones, which means other states often adopt them as their own.

Fourteen other states, including Washington, New Jersey, New York and Massachusetts, have adopted California's current emissions goals, which is why the new regulations could have a wide-ranging effect. Of those states, 10 have also adopted the zero-emission vehicle standards as well.

In addition to new smog and greenhouse gas emissions limits, the regulations being voted on also includes a new zero-emissions vehicle mandate. The goal is to have 1.4 million zero-emission and plug-in hybrids on California roads by 2025. But the program also looks ahead to 2050, laying groundwork for a goal of having 87 percent of the state's fleet of new vehicles fueled by electricity, hydrogen fuel cells or other clean technologies.

"This regulation is planned over a 40-year horizon, and that is extremely unusual," said board spokesman David Clegern. "But it gives us time to put the pieces in place with no surprises. The individual companies can plan for changes and develop the technology, and over the long haul, it will shift us away from reliance on petroleum."

The board's meeting comes just three days after federal regulators met in San Francisco to hear public comment on the Obama administration's national fuel economy standards, the most far-reaching in history. If passed later this year, they would require the average passenger car to reach a 54.5-mph standard by 2025.

The U.S. Environmental Protection Agency, 13 automakers, CARB and others worked together so that when the federal government passes its greenhouse gas emissions limits later this year, they will match California's and create one national standard.

Some automakers said the market for clean car technology is already spurring the technology and innovation the regulations seek to influence.

"Yes, the cars will be lighter, compact, far more fuel efficient. That's what the mandate will be. It's not enforced by the government but really by the economics of the future," said Michael Dobrin, a spokesman for Toyota.

Yet some auto dealers have argued that the government's emphasis on strict pollution controls will result in much higher prices for consumers.

Forrest McConnell, director of the National Automobile Dealers Association, testified during the federal hearing Tuesday that tightening fuel efficiency standards will result in unaffordable cars.

"We all want better fuel economy, but it is not free. By adding $3,200, if not more, to the average cost of a car, over seven million Americans will be priced out of the market, fleet turnover will be reduced, and public policy benefits will be delayed," McConnell said.

Other dealers say consumer demand for electric and hybrid vehicles is not what the board hopes it is.

The California New Car Dealers Association says hybrid vehicles, which have been marketed and sold for 13 years, only make up 2.1 percent of the national market, and 4.1 percent of California's market. They say the goal of making one of every seven new cars sold in California a zero-emission vehicle in roughly the same amount of time is unrealistic.

"Rather than setting vehicle manufacturers, new car dealers, and alternative vehicles themselves up for another predictable failure, (the board) should adjust the mandate to reflect a goal that is realistic and attainable," said Jonathan Morrison, the state dealers' association's director of legal and regulatory affairs.

The air board's research and environmental advocates dispute those cost increase estimates, and say increases in hybrid and other sales continue to rise as more cars hit the market. They argue that fuel cost savings will make up for any vehicle price increase.

"Our research shows a $1,400 to $1,900 car price increase, but over the life of the vehicles, the owners save $6,000 in reduced fuel and maintenance costs," said Clegern.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-26-California%20Clean%20Car%20Standards/id-7c06e205717546a5a9492195e6337d73

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Thursday, January 26, 2012

Arizona Gov. Brewer gets book critique from Obama (AP)

MESA, Ariz. ? Arizona Gov. Jan Brewer came to greet President Barack Obama upon his arrival outside Phoenix Wednesday. What she got was a critique. Of her book.

The two leaders could be seen engaged in an intense conversation at the base of Air Force One's steps. Both could be seen smiling, but speaking at the same time.

Asked moments later what the conversation was about, Brewer, a Republican, said: "He was a little disturbed about my book."

Brewer recently published a book, "Scorpions for Breakfast," something of a memoir of her years growing up and defends her signing of Arizona's controversial law cracking down on illegal immigrants, which Obama opposes.

Obama was objecting to Brewer's description of a meeting he and Brewer had at the White House, where she described Obama as lecturing her. In an interview in November Brewer described two tense meetings. The first took place before his commencement address at Arizona State University. "He did blow me off at ASU," she said in the television interview in November.

She also described meeting the president at the White House in 2010 to talk about immigration. "I felt a little bit like I was being lectured to, and I was a little kid in a classroom, if you will, and he was this wise professor and I was this little kid, and this little kid knows what the problem is and I felt minimized to say the least."

On the tarmac Wednesday, Brewer handed Obama an envelope with a handwritten invitation to return to Arizona to meet her for lunch and to join her for a visit to the border.

"I said to him, you know, I have always respected the office of the president and that the book is what the book is," she told reporters Wednesday. She said Obama complained that she described him as not treating her cordially.

"I said that I was sorry that he felt that way. Anyway, we're glad he's here, and we'll regroup."

A White House official said Brewer handed Obama a letter and said she was inviting him to meet with her. The official said Obama told her he would be glad to meet with her again. The official said Obama did note that after their last meeting, which the official described as a cordial discussion in the Oval Office, the governor inaccurately described the meeting in her book. The official spoke on condition of anonymity to describe a private conversation between the president and the governor.

Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/ap/20120126/ap_on_el_pr/us_obama_arizona_governor

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Wednesday, January 25, 2012

Group calls for U.S. to break up Bank of America (Reuters)

(Reuters) ? A group of consumer advocates, academics and economists want to end "too-big-to-fail" banks, starting with Bank of America Corp.

The group, led by consumer advocacy organization Public Citizen, plans to file a petition with the Federal Reserve Board and other regulators on Wednesday asking them to carve the bank into simpler, safer pieces.

The Fed and the coalition of regulators known as the Financial Stability Oversight Council have the authority to take such action under the Dodd-Frank financial reform law passed in 2010, the group said.

Nearly two dozen professors and groups have joined the effort.

It's not clear how much effect the petition will have, and some community groups have declined to sign on.

However, the petition is a dramatic criticism of regulators who have so far done little to shrink giant banks after the 2007-2009 financial crisis.

"Bank of America currently poses a grave threat to U.S. financial stability by any reasonable definition of that phrase," the 24-page petition said.

It said Bank of America, the nation's second-largest bank, is too large and complex, and that its financial condition could deteriorate rapidly at any moment, potentially causing the market to lose confidence in the bank.

"An ensuing run on the bank could cause a devastating financial crisis," the petition said.

David Arkush, director of Public Citizen's Congress Watch division, said a lot of the group's concerns apply to other large banks, but that Bank of America is the institution most exposed to the housing crisis.

"Regulators need to get ahead of this and act proactively to reform Bank of America," Arkush said.

Bank of America has had a tough time emerging from the financial crisis, particularly because of mortgage losses tied to its 2008 Countrywide Financial purchase.

The bank's stock slid 58 percent last year as investors expressed disappointment with the speed of a turnaround and fear about the bank's ability to comply with new capital rules.

Bank of America has fared better this year. It reported improved capital levels in its fourth-quarter earnings report last week, and its stock has risen 31 percent since the start of the year.

Arkush said he doesn't expect regulators to immediately act on the group's petition.

Dodd-Frank includes mechanisms for regulators to break up large financial firms, but it includes high hurdles for such action.

Bank of America, the Fed and the Treasury declined to comment on the planned petition.

Some community groups decided to pass on signing the entreaty. Janis Bowdler, an official with the National Council of La Raza, said the letter was distributed on a list-serve for a coalition called Americans for Financial Reform, but her group decided not to join up.

"I don't want to downplay the concerns that were raised," said Bowdler, "but for now, a strong housing market and cleaning up Countrywide is the priority for us."

NCLR is a national Hispanic civil rights organization. It receives financial support from Bank of America.

The Center for Responsible Lending, which has been critical of banks for mortgage lending practices, has also declined to participate. CRL president Mike Calhoun declined comment.

Bank of America was one of the large banks that received a government bailout during the financial crisis. It paid back the $45 billion in 2009, but analysts say it still needs more capital to absorb mortgage-related losses and to meet new international standards.

(Reporting By Rick Rothacker; Additional reporting by Dave Clarke in Washington and David Henry in New York; Editing by Phil Berlowitz)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20120125/bs_nm/us_bankofamerica_breakup

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Tuesday, January 24, 2012

Romney to release taxes, Gingrich ready for Obama (AP)

WASHINGTON ? Stung by a South Carolina setback that capped a bad week, Mitt Romney said he would release his tax returns Tuesday in hopes of ending a campaign distraction while revived rival Newt Gingrich said he was the strongest Republican to go "toe to toe" with President Barack Obama.

Rick Santorum, third in the South Carolina vote, maintained he was the lone "consistent conservative" left in the race and pledged to keep campaigning in Florida, next on the calendar with its Jan. 31 primary, and beyond.

The newly scrambled presidential contest shifted to Florida after Gingrich stopped Romney's sprint to the nomination with a convincing victory in the first-in-the South primary. For now, that removed the air of inevitability that surrounded Romney's candidacy. But Florida is larger, more diverse and more expensive, and brings new challenges for Gingrich. Once again, he must show he can overcome financial and organizational disadvantages, as he did in South Carolina.

"One of the reasons I think people in South Carolina voted for me was a belief that I could debate Obama head to head, that I could convey conservative values," said Gingrich as the candidates made the rounds of the Sunday talk shows.

"I think we had better be prepared for a tough campaign, whoever we nominate," the former House speaker said. He added, "I can go toe to toe with President Obama on big things. ... I think you can draw a very strong case that in the end the dynamics of a Gingrich/Obama fight are much better for Republicans than the dynamics of a Romney/Obama fight."

Romney said it was "not a good week for me" and cited all the time he had spent talking about his tax returns as his rivals pressed him to make them public before his promised date in April.

After months of resistance, Romney had said last week that he would release tax information for 2011, but not until close to the tax filing deadline. That also was seen as a time, before the South Carolina race rattled his front-runner status, when the GOP nomination might have been decided.

"I think we just made a mistake in holding off as long as we did. It just was a distraction. We want to get back to the real issues of the campaign: leadership, character, a vision for America, how to get jobs again in America and how to rein in the excessive scale of the federal government," said Romney, a former Massachusetts governor and venture capitalist.

Romney disclosed last week that, despite his wealth of hundreds of millions of dollars, he has been paying in the neighborhood of 15 percent, far below the top maximum income tax rate of 35 percent, because his income "comes overwhelmingly from investments made in the past."

"Given all the attention that's been focused on tax returns, given the distraction that I think they became in these last couple of weeks," Romney said Sunday he would release his 2010 returns and estimates for his 2011 returns at the same time "so there's not a second release down the road."

"We'll be putting our returns on the Internet, people can look through them," Romney said. "It will provide, I think, plenty of information for people to understand that the sources of my income are exactly as described in the financial disclosure statements we put out a couple of months ago.

During 2010 and the first nine months of 2011, the Romney family had at least $9.6 million in income, according to a financial disclosure form submitted in August.

Further focusing attention on his wealth was Romney's offhand remark to reporters that his income from paid speeches amounted to "not very much" money. In the August disclosure statement, he reported being paid $373,327.62 for such appearances for the 12 months ending last February. That sum alone would him in the top 1 percent of U.S. taxpayers.

In addition, Romney owns investments worth between $7 million and $32 million in offshore-based holdings, which are often used legitimately by private equity firms to attract foreign investors. Such offshore accounts also can enable wealthy investors to defer paying U.S. taxes on some assets, according to tax experts.

"I know people will try and find something," Romney said, adding, "We pay full, fair taxes, and you'll see it's a pretty substantial amount."

Santorum, who beat Romney and Gingrich in leadoff Iowa, scoffed at the suggestion he might leave the race so conservatives could rally behind Gingrich against Romney.

"The idea that conservatives have to coalesce in order to beat Mitt Romney, well, that's just not true anymore. Conservatives actually can have a choice. We don't have to rush to judgment,' he said.

"The longer this campaign goes on," Santorum said, "the better it is for conservatives, the better it is for our party."

Santorum's continued presence ensures at least some division among Florida's tea party activists and evangelicals, a division that could help Romney help erase questions about his candidacy.

Texas Rep. Ron Paul likely will not be a factor in Florida. He already had said he was bypassing the state in favor of smaller subsequent contests.

As the first Southern primary, South Carolina has been a proving ground for Republican presidential hopefuls in recent years. Since Ronald Reagan in 1980, every Republican contender who won the primary has gone on to capture the party's nomination.

Returns from 95 percent of the state's precincts showed Gingrich with 41 percent of the vote to 27 percent for Romney. Santorum was winning 17 percent, Paul 13 percent.

Already, Romney and a group that supports him were on the air in Florida with a significant television ad campaign, more than $7 million combined to date.

Gingrich appeared on NBC's "Meet the Press," CBS' "Face the Nation" and CNN's "State of the Union." Romney was on "Fox News Sunday," while Santorum was on ABC's "This Week" and CNN.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120122/ap_on_el_pr/us_gop_campaign

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Justin Bieber Rocks Fur Hat And Knee Highs

Celebuzz:

Is Justin Bieber starting a new fashion trend?

Read the whole story: Celebuzz

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Source: http://www.huffingtonpost.com/2012/01/23/justin-bieber-fur-hat_n_1223433.html

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Monday, January 23, 2012

What Is This? [Image Cache]

Is that a proton torpedo exploding through space? Nah. Maybe the world's most incredibly unsafe powerline crackling in the night sky? Or how about a CGI bit from The Hobbit? Well, no, but close. It has to do with a dragon, see. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/_E65nu-_TEs/what-is-this

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Sunday, January 22, 2012

Costa Concordia: Marine Paradise Threatened By Cruise Ship

PORTO ERCOLE, Italy -- Stone fortresses and watchtowers which centuries ago stood guard against marauding pirates loom above pristine waters threatened by a new and modern peril: fuel trapped within the capsized Costa Concordia luxury liner.

A half-million gallons (2,400 tons) of black goo are in danger of leaking out and polluting some of the Mediterranean's most unspoiled sea, where dolphins are known to chase playfully after sailboats and fishermen's catches are so prized that wholesalers come from across Italy to scoop up cod, lobsters, scampi, swordfish and other delicacies.

"Compared to the Caribbean, we have nothing to be envious about," said Francesco Arpino, a scuba instructor in the chic port of Porto Ercole, marveling at how the sleek granite sea bottom helps keep visibility crystal clear even 40 meters (135 feet) down.

Divers in these transparent waters marvel at sea horses and red coral, while on the surface sperm whales cut through the sea.

But worry is clouding this paradise, which includes a stretch of Tuscan coastline that has been the holiday haunt of soccer and screen stars, politicians and European royals.

Rough seas hindering the difficult search for bodies by divers in the Concordia's submerged section have delayed the start of a pumping operation expected to last weeks to remove the fuel from the ship. Floating barriers aimed at containing any spillage now surround the vessel.

Concordia lies dangerously close to a drop-off point on the sea bottom. Should strong waves nudge the vessel from its precarious perch, it could plunge some 20-30 meters (65-90 feet), further complicating the pumping operation and possibly rupturing fuel tanks. Italy's environment minister has warned that if those tanks break, globs of fuel would block sunlight vital for marine life at the seabed.

A week after the Concordia struck a reef off the fishing and tourism island of Giglio, flipping on its side, its crippled 114,000-ton hull rests on seabed rich with an underwater prairie of sea grass vital to the ecosystem. The dead weight has likely already damaged a variety of marine life, including endangered sea sponges, and crustaceans and mollusks, even before a drop of any fuel leaks, environmentalists contend.

"The longer it stays there, the longer it impedes light from reaching the vegetation," said Francesco Cinelli, an ecology professor at the University of Pisa, in Tuscany. And the sheer weight of the Concordia will also crush sea life, he said.

The seabed where the Concordia lies is a flourishing home to Poseidon sea grass native to the Mediterranean, Cinelli told The Associated Press in a telephone interview.

"Sea grass ... is to the sea what forests are to terra firma," Cinelli said: They produce oxygen and serve as a refuge for organisms to reproduce or hide from predators.

The Tuscan archipelago's seven islands are at the heart of Europe's largest marine park, extending over some 60,000 hectares (150,000 acres) of sea.

They include Elba, where Napoleon lived in exile, and the legendary island of Montecristo, a setting for Alexandre Dumas' novel "The Count of Monte Cristo" ? where rare Mediterranean monk seals have been spotted near the coast.

Montecristo has a two-year waiting list of people hoping to be among the 1,000 people annually escorted ashore by forest rangers to admire the uninhabited island. Navigation, bathing and fishing are strictly prohibited up to 1 kilometer (0.6 miles) from Montecristo's rocky, cove-dotted coast. A monastery, established on Montecristo in the 7th century, was abandoned nine centuries later after repeated pirate raids.

Come spring, Porto Ercole's slips will be full, with yachts dropping anchor just outside the port. It lies at the bottom of a steep hill, whose summit gives a panoramic view of a sprawling seaside villa, once a holiday retreat of Dutch royals, and of the crescent-shaped island of Giannutri, with its ancient Roman ruins.

Alberto Teodori, 49, who said he has been hired as a skipper for the yachts of Rome's VIPs for 30 years, noted that the area thrives on tourism in the spring and summer and survives on fishing in the offseason.

If the Concordia's fuel, "thick as tar," should pollute the sea, "Giglio will be dead for 10, 15 years," Teodori fretted, as workers nearby shellacked the hull of an aging fishing boat.

The international ocean-advocacy group, Oceana, on Thursday, described the national marine park as an "ecological diamond," favored by divers for its great variety of species.

"If the pollution gets into the water, we are ruined," said Raffaella Manno, who with her husband runs a portside counter selling fresh local fish in Porto Santo Stefano, a nearby town where ferries and hydrofoils depart for Giglio.

A wholesaler as well, she said fish from the archipelago's waters is prized throughout Italy for its quality and variety.

"The water is clean and the reefs are rich" for fish to feed, she said, as trucks carrying oil-removal equipment waited to board ferries Wednesday to Giglio. "The priciest markets in Italy come here to buy, from Milan, Turin, even Naples."

Concordia's captain, initially jailed and then put in house arrest in his hometown near Naples, is suspected of having deliberately deviated from the ship's route, miles off shore, to hug Giglio's reef-studded coastline in order to perform a kind of "salute" to amuse passengers and islanders.

The maneuver is apparently a common practice by cruise ships, environmentalists lament.

"These salutes are an established practice by the big cruise ships," said Francesco Emilio Borrelli, a Green party official from Naples. He said that the Greens have received reports of numerous such sightings by ships sailing by the Naples area islands of Capri, Ischia and Procida.

Even before the Concordia tragedy, environmentalists had railed against what they brand "sea monsters," virtually floating cities ? each pumping massive amounts of greenhouse gases ? sailing perilously close to the sea coast to thrill passengers aboard.

They even sail up to Venice, the lagoon city whose foundations are eroded by waves churned up by passing vessels. Venice port officials defend the practice, saying they're escorted by tugboats.

"These virtual cities," said Marevivo in a statement highlighting Cinelli's concerns, "put at risk the richness of biodiversity, which that we must never forget is at the foundation of our very survival on Earth."

Also on HuffPost:

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Source: http://www.huffingtonpost.com/2012/01/20/costa-concordia-marine-paradise-threatened_n_1219215.html

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After threats, Iran plays down U.S. naval moves (Reuters)

TEHRAN (Reuters) ? Iran's Revolutionary Guard Corps said on Saturday it considered the likely return of U.S. warships to the Gulf part of routine activity, backing away from previous warnings to Washington not to re-enter the area.

The statement may be seen as an effort to reduce tensions after Washington said it would respond if Iran made good on a threat to block the Strait of Hormuz - the vital shipping lane for oil exports from the Gulf.

"U.S. warships and military forces have been in the Persian Gulf and the Middle East region for many years and their decision in relation to the dispatch of a new warship is not a new issue and it should be interpreted as part of their permanent presence," Revolutionary Guard Deputy Commander Hossein Salami told the official IRNA news agency.

The apparently conciliatory comments may be a response to the European Union and Washington's rejection of Iran's declaration it was close to resuming negotiations with world powers and with the Pentagon saying it did not expect any challenge to its warships.

Crude prices have spiked several times this year on fears diplomatic tensions could escalate to military clashes as well as uncertainty about the effect of sanctions on the oil market.

Along with the EU, which is set to agree an embargo on Iranian oil next week, Washington hopes the sanctions will force Iran to suspend the nuclear activities it believes are aimed at making an atom bomb, a charge Tehran denies.

There has been no U.S. aircraft carrier in the Gulf since the USS John C. Stennis left at the end of December at a time when the Revolutionary Guard was conducting naval maneuvers.

On January 3, after U.S. President Barack Obama signed new sanctions aimed at stopping Iran's oil exports, Tehran told the Stennis not to return - an order interpreted by some observers in Iran and Washington as a blanket threat to any U.S. carriers.

"I recommend and emphasize to the American carrier not to return to the Persian Gulf," Iran's army chief, Major General Ataollah Salehi, said at the time. "We are not in the habit of warning more than once."

NEW MANOEUVRES

Washington says it will return to the Gulf and Defense Secretary Leon Panetta said any move to block Hormuz - through which around a third of the world's sea-borne traded oil passes - would be seen as a "red line," requiring a response.

Citing operational security, the Pentagon will not say when the next carrier will return to the Gulf but officials say it is only a matter of time and they do not expect any problems.

In the coming days or weeks, the Revolutionary Guard will begin new naval exercises in the Strait of Hormuz and the Gulf. Salami told IRNA these would go ahead as planned in the Iranian month of Bahman which runs from January 21 to February 19.

Iran has said it is ready to return to talks with world powers that stalled one year ago, but the West, concerned about Tehran's move of the most sensitive atomic work to a bomb-proof bunker, says it must first see a willingness from Tehran to address the nuclear issue.

French President Nicolas Sarkozy said on Friday "time is running out" for a diplomatic solution and urged Russia and China to drop their opposition to sanctions on Iranian oil.

Iran is OPEC's second biggest exporter and blocking its crude exports - through the EU embargo or U.S. moves to punish banks that trade with Iran - could have a devastating impact on its economy but there are no signs so far such pressure would force it to stop what it calls its peaceful nuclear rights.

(Writing by Robin Pomeroy; Editing by Sophie Hares)

Source: http://us.rd.yahoo.com/dailynews/rss/iran/*http%3A//news.yahoo.com/s/nm/20120121/wl_nm/us_iran_usa

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Saturday, January 21, 2012

Youth find their voice on Tunisian radio

More than 100 young volunteers received technical training and now produce Web radio program focused on youth perspectives in Tunisia.

? A local, slice-of-life story from a Monitor correspondent.

Skip to next paragraph

In the year since Tunisia?s Arab Spring revolution shed its former dictator?s tight grip over public expression, many are exploring myriad ways to be heard.

Ana Tounsi Radio, a US-funded effort, aims to keep young voices in the mix through Web radio and online video broadcasting. More than 100 young volunteers received technical training and now make programming decisions for the initiative, which went live in October under the slogan (translated from the local Arabic dialect) ?It?s not enough that you listen. It?s time now to speak.?

On-air topics range from sports and culture to social and political issues. Conversations spill over onto social media sites and YouTube. Programs run 24/7, with live broadcasts from 2 p.m. to 10 p.m. During Tunisia?s fall elections, the station says young people provided extensive coverage from around the country.

Fedia Gasmi, part of a nongovernmental organization that oversees the project, says the station empowers youths by giving them a space to articulate their priorities. As they re-invent the communications landscape, she says, the goal is to enhance civic engagement as well as to ?create critical thinking about media.?

A $215,000 grant from the US State Depart?ment?s Middle East Partnership Initiative helped pay for equipment and start-up costs.

Get daily or weekly updates from CSMonitor.com delivered to your inbox.?Sign up today.

Source: http://rss.csmonitor.com/~r/csmonitor/globalnews/~3/zR3Udf9dm3w/Youth-find-their-voice-on-Tunisian-radio

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Jennifer Hudson would gain weight for movie role (AP)

KENNESAW, Ga. ? Even though Jennifer Hudson has dropped more than 80 pounds, the singer and actress said she would have no problem gaining weight for Hollywood if the proper movie role comes her way.

"When I do films, it has to be led by something through me ? like my passion for it," Hudson said before a book signing in suburban Atlanta on Wednesday. "I just don't want to hop into anything. So if I commit myself to something, then it'll be worth it no matter what character it is."

Last week, Hudson released her book, "I Got This: How I Changed My Ways and Lost What Weighed Me Down." The book touches on how she dealt with her weight issues throughout her career before she lost the extra pounds.

In it, Hudson ? who is both a Grammy and Oscar winner ? also talked about how she turned down the lead role in the 2009 film "Precious." The role ended up going to Gabourey Sidibe, who was nominated for an Oscar for playing an obese 16-year-old girl who had an abusive mother, an incestuous father and faced extreme poverty.

"I felt it was too graphic for me at the time," she said Wednesday. "It's something I didn't want to do at the time, but I would gain weight in a heartbeat. I have no issues with that at all."

Hudson is a spokeswoman for Weight Watchers and wants to remain physically fit along with her fiance David Otunga, who has recently been wrestling for the World Wrestling Entertainment. They both want to set an early example of staying in shape for their 2-year-old son.

"We really didn't realize how important health was until we were adults," she said. "We wanted to make sure we set an example for our son. He's health conscious, and I am health conscious."

Hudson, who first earned fame as an "American Idol" finalist, won a Grammy for her self-titled album and a supporting actress Oscar for her role in "Dreamgirls."

___

Online:

http://www.jenniferhudson.com

___

Follow Jonathan Landrum Jr. on Twitter at http://www.twitter.com/mrlandrum31

Source: http://us.rd.yahoo.com/dailynews/rss/music/*http%3A//news.yahoo.com/s/ap/20120119/ap_en_mu/us_people_jennifer_hudson

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Friday, January 20, 2012

Sony Ericsson seen improving in Sony hands (Reuters)

STOCKHOLM (Reuters) ? Mobile phone maker Sony Ericsson will deliver its final quarterly report as a joint venture on Thursday, before pinning its hopes on the consumer clout of its new sole owner Sony Corp to claw its way back into the top tier.

Sony Corp, with $85 billion in annual sales, announced it was to take full control of the Sony Ericsson joint venture in October with Ericsson receiving 1.05 billion euros for its 50 percent share.

Sony Ericsson, once renowned for its market-leading Walkman and Cybershot phones, missed out on the boom in smartphones that has revolutionized the mobile phone market and powered the growth of rivals Apple and Samsung.

The joint venture, which has struggled to make a profit in recent years, kicks off the cellphone industry's earnings with the industry keenly awaiting the company's comments on the effects of economic downturn on demand.

Fourth-quarter results, the last before Sony takes full control and Ericsson focuses more on its core mobile network gear business, should show the company's situation has stabilized after cost cuts and a decision to focus entirely on smartphones powered by Google's Android operating system.

"The chance of things getting better are a little higher when it is part of Sony," said Greger Johansson, analyst at Stockholm-based analyst house Redeye.

"Sony is good at everything from games to consumer electronics and graphics and will perhaps be a little more willing to share that with the mobile firm now."

Results are due on Thursday at 2:30 a.m. EST.

Analysts polled by Reuters saw Sony Ericsson making a pre-tax profit of 41.7 million euros ($53 million) in the fourth quarter, bringing its full-year earnings up to 45.8 million.

Analysts saw earnings rising to 140 million euros this year and increasing again to 190 million in 2013.

Sony and Ericsson brought their mobile phone operations together in 2001 as a way of fighting competition from market leader Nokia and then world number two Motorola Inc.

Ericsson was the world's third largest maker of mobile phones at the time, but the market has shifted significantly since. Sony Ericsson is now ninth-biggest player, Nokia is struggling and Apple has led innovation in smart phones, though it has also been overtaken in smartphone sales by Samsung.

Sony, the maker of PlayStation game console, Bravia TVs and Vaio computers, aims to integrate phones with its other consumer electronic products, which should give Sony Ericsson the ammunition to fight against the iPhone, Samsung's Galaxy range and others.

Full integration with Sony should also mean Sony Ericsson can get its costs down closer to the level of competitors.

(Reporting by Simon Johnson and Olof Swahnberg; Editing by Mike Nesbit)

Source: http://us.rd.yahoo.com/dailynews/rss/tech/*http%3A//news.yahoo.com/s/nm/20120119/tc_nm/us_sonyericsson

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Yahoo co-founder Jerry Yang leaving company (AP)

SAN FRANCISCO ? Yahoo co-founder Jerry Yang is leaving the struggling Internet company, as it tries to revive its revenue growth and win over disgruntled shareholders under a new leader.

The departure, announced Tuesday, punctuates the end of an era at Yahoo, a tarnished Internet icon that has spent much of the last decade scrambling to catch up to Internet search leader Google Inc. ? a company that got early encouragement and advice from Yang. It comes just two weeks after Yahoo Inc. hired former PayPal executive Scott Thompson as its CEO.

Thompson is the fourth CEO in less than five years to try to turn around Yahoo. It's a daunting assignment that Yang was unable to pull off during his own tumultuous 18-month reign as the company's CEO in 2007 and 2008.

Yang, 43, endorsed Thompson in his resignation from Yahoo's board of directors. He had been on Yahoo's board since the company's 1995 inception.

"My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life," Yang wrote in a letter to Yahoo Chairman Roy Bostock. "However, the time has come for me to pursue other interests outside of Yahoo."

The letter didn't say what Yang plans to do next. He doesn't need to work, thanks to the fortune he has amassed since he began working on Yahoo in a trailer at Stanford University with fellow graduate student David Filo. Yang is worth about $1.1 billion, according to Forbes magazine's latest estimates.

Yang is also stepping down from the boards of China's Alibaba Group and Yahoo Japan. Yahoo is negotiating to sell its stakes in both of the Asian companies as part of its efforts to placate investors. The deal could be worth as much as $17 billion, but it still faces a series of potential stumbling blocks.

Besides surrendering the board seats, Yang is giving up his position as "Chief Yahoo," an honorary title he held as he mingled among workers, while keeping tabs on various company projects.

Thompson could have an easier time overhauling Yahoo without Yang looking over his shoulder and possibly second guessing his decisions, said BGC Financial analyst Colin Gillis.

"This has the fingerprints of frustration on it," Gillis said. "It's one of those situations where it looks like (Yang) is losing the battle to control the company's direction and now he is saying, `That's it, I'm out.'"

Although a popular figure among Yahoo employees, Yang had alienated the company's shareholders by turning down a chance to sell Yahoo in its entirety to Microsoft Corp. for $47.5 billion, or $33 per share, in May 2008. Yahoo shares haven't topped $20 for more than three years. The stock gained 44 cents to $15.87 in extended trading after Yang's decision was announced.

The slump in Yahoo's stock has diminished Yang's wealth. He still owns a 3.6 percent stake in the company.

Yang conceivably could leverage those holdings to attempt to buy Yahoo's U.S. business after the Asian investments are sold. That is, if he can line up additional financing, Macquarie Securities analyst Ben Schachter wrote in a research note late Tuesday. Several buyout firms have already expressed interest in buying a substantial stake in Yahoo, spurring speculation that Yang might work with them to acquire a controlling interest in what remains of the company if the Asian assets are sold.

When he announced Thompson's hiring earlier this month, Bostock stressed that Yahoo intended to remain an independent, publicly traded company.

Yang had been someone more interested in preserving the company than he created than dismantling parts of its to boost the stock price, analysts said. "Investors tend to want to keep trying to fix the company than carve it apart," Gillis said.

Now that he is out of the way, investors are likely to conclude the sale of the Asian investments will eventually be completed, Schachter wrote.

Investor anger over Yang's handling of the Microsoft negotiations led to his resignation as CEO in late 2008 and the hiring of Silicon Valley veteran Carol Bartz to replace him. Bartz and Yang had gotten to know each other as part of Cisco Systems Inc.'s board of directors.

After initially hailing Bartz as the solution to Yahoo's problems, Yang and the rest of Yahoo's board fired her as CEO in September.

Yahoo's revenue has been falling in recent years even as advertisers have poured more money into the Internet. Much of the money, though, has been going to Google and Facebook's online social network, as Yahoo has fallen further behind in the race to innovate and develop products that attract Web traffic.

Despite its struggles, Yahoo remains profitable and still boasts a worldwide audience of 700 million people.

But visitors aren't sticking around Yahoo's services as much as they once did, depriving the company of more opportunities to sell ads ? the main source of its revenue.

It has been a jarring comedown for Yahoo, which emerged as one of the Internet's first stars after Yang and Filo expanded the service beyond its roots as a hand-picked directory of websites.

Yahoo's early success turned it into a Wall Street darling and landed Yang on the covers of leading business magazines. At the height of the dot-com bubble 12 years ago, Yahoo's stock was trading above a split-adjusted $100 amid talk that the company might eventually try to buy a long-established media franchise such as the Walt Disney Co.

But now investors widely regard Yahoo as a misguided company that can't come up with a cohesive plan to define itself for Web surfers and advertisers.

Yang and Bostock have been the focal point for much of the criticism, partly because of their key roles in the Microsoft talks in 2008. After buying a 5.2 percent stake in Yahoo last autumn, hedge fund manager Daniel Loeb demanded that both Bostock and Yang step down from the company's board. If they refused, Loeb indicated he would finance a shareholder rebellion to oust both men from the board.

Loeb's fund, Third Point LLC, didn't immediately return phone calls seeking comment late Tuesday.

Bostock, Yahoo's chairman for the past four years, has given no indication that he plans to step down.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20120118/ap_on_hi_te/us_yahoo_founder_resigns

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Thursday, January 19, 2012

Apache Tomcat Users Advised to Update to Avoid Hash DOS Attacks

The Apache Software developers released an advisory, recommending customers to update their Apache Tomcat software to protect themselves against potential hash denial of service (DOS) attacks.

?Analysis of the recent hash collision vulnerability identified unrelated inefficiencies with Apache Tomcat's handling of large numbers of parameters and parameter values,? reads the advisory.

?These inefficiencies could allow an attacker, via a specially crafted request, to cause large amounts of CPU to be used which in turn could create a denial of service.?

In the latest releases, the issue was addressed by changing the parameter handling code to process large number of parameters and their values more efficiently.

Users who rely on Tomcat versions between 7.0.0 and 7.0.22, the ones that utilize Tomcat 6.0.33 and earlier variants, and customers of Tomcat 5.5.34 and prior are advised to immediately update to the latest versions that mitigate the threat.

We'll take this opportunity to remind everyone that starting with September 30, 2012, the company will no longer offer support for Apache Tomcat 5.5.x.

This implies that after the aforementioned date, releases from this branch are highly unlikely to be launched and bugs that affect only these variants are no longer addressed.

Also, vulnerability reports that may affect a system?s security will no longer be checked to see if they affect the 5.5.x version.

Furthermore, from the first day of 2013 the download pages for these products will be removed and even the latest release will be removed from the mirror system.

The documentation for the Tomcat 5.5.x will no longer exist on tomcat.apache.org and the bugzilla project for it will become read-only.

The final release will be made sometime after September 30.

This is highly important for clients who rely on this variant, to give them the necessary time to take the appropriate measures.

Apache Tomcat 7.0.23 / 6.0.35 / 5.5.35 is available for download here.

Source: http://news.softpedia.com/news/Apache-Tomcat-Users-Advised-to-Update-to-Avoid-Hash-DOS-Attacks-247187.shtml

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Video: Does Market Need Goldman Sachs?

The future of Goldman Sachs will be more of an advisor than a liquidity trader, says Ed Ditmire, analyst at Macquarie Group.

Related Links:

Business & financial news headlines from msnbc.com

Source: http://video.msnbc.msn.com/cnbc/46042774/

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Wednesday, January 18, 2012

Playstation Vita Sales In Nosedive After Strong Japan Debut

vitaThe Playstation Vita handheld system, unveiled at E3 last year, went on sale just before the holidays in Japan. It saw serious sales: around 325,000 units (500,000 by Sony's reckoning) were sold in its opening week. Naturally numbers tend to drop after the initial rush, and the next week saw healthy sales of around 72,000. But The numbers kept decreasing, and it is now reported that for the week ending January 15, the new device sold only 18,361 units, not including online sales. That's less than the PSP.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/LsN1Yk7lJuk/

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Wall Street rises but ends off highs as Citi sinks (Reuters)

NEW YORK (Reuters) ? Stocks advanced on Tuesday, pushing the S&P 500 to its highest since early August, but sharply pared gains late in the session as Citigroup's steep drop in profit gave investors a reason to unload bank shares.

The financial sector, which has outperformed the broader market so far this year, took a hit on investors' disappointment with Citigroup Inc's (C.N) earnings.

Citigroup's stock slid 8.1 percent to $28.25 after it reported weaker-than-expected earnings.The KBW Banks Index lost 1.4 percent. Through Friday, the KBW Banks Index was up about 10 percent for the year, while the S&P 500 was about 2 percent higher.

The banks' sell-off splashed cold water on a rally that drove the S&P 500 through 1,300 for the first time since August.

Stocks rallied about 1 percent across the board after data showed China's economic growth was better than expected, even though it expanded at the weakest pace in 2-1/2 years.

"The better numbers out of China this morning got the market off to a better start, but then there wasn't much follow-through, and you have had what looked to be from JPMorgan and Citigroup not very good-looking earnings," said Eric Kuby, chief investment officer of North Star Investment Management Corp., in Chicago.

Citigroup's results followed similarly disappointing earnings on Friday from JPMorgan Chase & Co (JPM.N).

The Dow Jones industrial average (.DJI) rose 60.01 points, or 0.48 percent, to 12,482.07 at the close. The Standard & Poor's 500 Index (.SPX) added 4.58 points, or 0.36 percent, to 1,293.67. The Nasdaq Composite Index (.IXIC) gained 17.41 points, or 0.64 percent, to 2,728.08.

After the bell, shares of Yahoo (YHOO.O) shot up 3.6 percent to $15.99 in extended-hours trading following news that Yahoo co-founder Jerry Yang resigned. [ID:nL1E8CHCYY] In regular trading, Yahoo's stock slipped 0.3 percent to close at $15.43.

Also after the close, shares of Cree (CREE.O), LED lighting maker, fell 5.5 percent to $22.05 in extended-hours trading after reporting a profit that fell short of analysts' estimates and giving a revenue forecast below expectations. Cree's stock had closed on Nasdaq at $23.33, up 1.9 percent.

Bank shares also suffered on Friday ahead of the widely expected announcement by Standard & Poor's that it was downgrading the credit ratings of nine euro-zone countries.

"It was expected that some of the big banks would continue struggling, especially those heavily involved in investment banking because that part of the financial system has clearly slowed down," said Bryant Evans, investment advisor and portfolio manager at Cozad Asset Management, in Champaign, Illinois.

While Wells Fargo & Co (WFC.N) posted a 20 percent jump in quarterly profit, its stock, which earlier had risen more than 1 percent to a session high at $30.69, pulled back sharply from that peak and ended up just 0.7 percent at $29.81.

The Nasdaq outperformed the other major U.S. stock indexes, with shares of Applied Materials (AMAT.O) up 2.4 percent at $11.78. RBC upgraded the stock to "outperform." An index of semiconductor stocks (.SOX) advanced 0.5 percent.

The benchmark S&P 500 briefly moved above 1,300 on an intraday basis for the first time since August 1. Analysts said a substantial move past that resistance point could trigger more buying.

On the downside, Carnival Corp (CCL.N) shares slid 13.7 percent to $29.60 as its Italian unit, Costa Crociere, struggled to locate missing passengers after a cruise liner capsized. Fellow cruise operator Royal Caribbean Cruises Ltd (RCL.N) fell 6.2 percent to $26.97.

On the U.S. economic front, a gauge of manufacturing in New York State rose to its highest level in nine months, keeping in line with the trend of modest improvement in U.S. economic data.

Volume totaled 6.8 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, just above the daily average of 6.68 billion.

Advancing stocks outnumbered declining ones on the NYSE by about 3 to 2, while on the Nasdaq, advancers beat decliners by about 13 to 12.

(Reporting By Caroline Valetkevitch,; Editing by Jan Paschal)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120117/bs_nm/us_markets_stocks

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Tuesday, January 17, 2012

Footage under scrutiny in Calif. murder-suicide

In this undated photo provided by Fresno Police Department via The Fresno Bee, Aide Mendez is shown. Mendez, who shot her two children, their father and a cousin in California's Central Valley before committing suicide took video of herself on her iPad as she smoked methamphetamine prior to the killings, police said Monday. (AP Photo/Fresno Police Department via The Fresno Bee)

In this undated photo provided by Fresno Police Department via The Fresno Bee, Aide Mendez is shown. Mendez, who shot her two children, their father and a cousin in California's Central Valley before committing suicide took video of herself on her iPad as she smoked methamphetamine prior to the killings, police said Monday. (AP Photo/Fresno Police Department via The Fresno Bee)

(AP) ? Police are combing through video footage of a woman who recorded herself smoking methamphetamine before shooting her two young children, their father, a cousin and herself, seeking clues into a weekend tragedy that unfolded in California's Central Valley.

The apparent murder-suicide by Aide Mendez, 23, began Sunday morning when she argued with Eduardo Lopez, the father of her two children. Authorities say that at some point that morning, she used her iPad to record herself and her boyfriend's cousin taking drugs.

After neighbors called police to report trouble, officers arrived to find Lopez outside the apartment complex with knife and gunshot wounds, said Lt. Mark Salazar, a police homicide commander.

They heard a muffled shot from the first-floor apartment and discovered Mendez had killed herself, the cousin, 27-year-old Paul Medina, as well as her two children, 17-month-old Aliyah Echeverria and Isaiah Echeverria, 3.

Police told The Fresno Bee they found Mendez in the bathroom and the children in the apartment's bathtub, where they had been shot at least once. The boy had died at the scene, Salazar said. The girl died at a hospital.

"We do know that drugs played a key role, but we don't know to what extent," Salazar said. "She was seen prior to the shooting smoking methamphetamine. She recorded herself on an iPad showing her and Paul Medina smoking meth. We know the power of meth."

Salazar said the time stamp on the iPad video would have to be tested but preliminary information indicated it was recorded within a few hours of the murder. Police do not immediately anticipate releasing the footage.

"Her actions just seemed bizarre; her mannerism, the way she was moving her hands and her facial expressions," Salazar said, noting other drugs may have been involved but that it would take weeks before the toxicology reports were complete.

Lopez, 33, remained in critical condition late Monday at Community Regional Medical Center with stab wounds and a gunshot wound to the neck, said Mary Lisa Russell, a hospital spokeswoman.

A 7-year-old neighbor girl who was in the apartment escaped unharmed.

Authorities said they had yet to piece together a motive, but that family members reported that Mendez had lost a baby several years ago, and was still grieving over the loss.

Police recovered 10 grams of meth, $8,000 in cash and three firearms in the apartment; two of them used.

"There's some things we just don't know because most of the people in that house are dead and the one person who is alive can't speak right now," Salazar said.

A neighbor, Jesus Gonzalez, told KFSN-TV, an ABC affiliate in Fresno, that he heard gunshots and pounding on his door. He found Lopez bleeding profusely.

"I opened the door and he fell in front of me, and I take him and I pull him inside," Gonzalez said. He said that before he could drag Lopez inside, Mendez tried to pull him back outside again.

Gonzalez said he shouted, "Hey, what happened, what happened?" and she ran off.

The family lived in the back of the gated apartment complex in southeast Fresno, which has neat lawns, trees and a children's playground.

Neighbors said there was no indication of violence between the couple before the shootings. "They would come out with the baby carriage, and the man was taking care of his children," neighbor Eric Gonzalez said.

Another neighbor said residents were struggling to comprehend what had happened.

"It just really gets you thinking about how a mother could just grab her kids and kill them," Lizeth Gonzalez, a mother of three children who lives in the complex. "I never thought it would happen here. Whatever she did, I hope God can somehow forgive her."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-01-17-Calif-Murder-Suicide/id-8299750cca03428ba17daf520277b577

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