Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.

The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.

Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.

Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.

"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.

Major technology companies also report next week, but the bar for the sector has been lowered even further.

Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.

Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.

Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.

CASH POURING IN, HOUSING DATA COULD HELP

Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.

The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.

"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."

Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.

Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.

The new home sales report on Friday is expected to show a 2.1 percent increase.

The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.

Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.

The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.

"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.

"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)

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Algeria Begins ‘Final Assault’ on Gas Field; 7 Hostages Reported Killed

BAMAKO, Mali — The hostage crisis in the Algerian desert appeared to be reaching a bloody conclusion Saturday as the official Algerian news agency reported that the army had launched a final assault on the gas field taken over by Islamist militants, killing 11 of them, but only after they had executed seven hostages.

“In principle, it’s all over,” a senior Algerian government official said from Algiers. The official said that security forces were “doing clean-up” to make sure some of the kidnappers were not hiding in the sprawling industrial complex.

Philip Hammond, the British defense secretary, said at a news conference in London that the Algerian military operation was over, but he called the loss of life since the start of the crisis “appalling and unacceptable.” United States Defense secretary Leon E. Panetta, who appeared with Mr. Hammond, said he did not yet have reliable information about the Americans at the facility, although the Algerian official said two had been found “safe and sound.”

The news agency report did not give the nationalities of those it said were executed, and it remained unclear if there were other hostages at the remote plant and whether they were alive. Earlier news reports said between 10 and dozens of hostages from several nations were in the hands of the kidnappers as of Friday.

United States officials said last week that “seven or eight” Americans had been at the In Amenas field when it was seized by the militants on Wednesday.

One American, Frederick Buttaccio, 58, of Katy, Tex., was confirmed dead on Friday, and the French government said one of its citizens, identified as Yann Desjeux, had also died before Saturday’s raid. The British government earlier said at least one Briton was killed, and an Algerian state news agency said 12 Algerians had died as of Friday.

The Algerian official insisted that no precise tally of the dead had yet been made, and that it would be difficult to establish one quickly. “There are corpses that are totally charred,” he said. “We’ve got to do identification work. It’s very difficult.” It was not immediately clear why the bodies were burned, although the Algerian press agency said the militants had set fire to part of the complex Friday night, which prompted the troops to launch their assault Saturday. Saturday’s assault on the attackers, if it swept up all the attackers, would bring to an end a four-day siege involving dozens of hostages and kidnappers that drew criticism from Western governments for the tough manner in which it was handled by the Algerian security services. Attacks on the kidnappers by the government forces have caused an unknown number of deaths among the hostages, in addition to those who were executed by the Al Qaeda-affiliated militants.

One Algerian who managed to escape told France 24 television late Friday night, that the kidnappers said “We’ve come in the name of Islam, to teach the Americans what Islam is.” The haggard-looking Algerian, interviewed at the airport in Algiers, said the kidnappers then immediately executed five hostages. The militants who attacked the plant said it was in retaliation for French troops sweeping into Mali this month to stop an advance of Islamists south toward the capital.

The Algerian state oil company, Sonatrach, said Saturday that the attackers had evidently mined the facility with the intention of blowing it up and that the company was working to disable the mines.

Throughout the siege, precise information about the number of killed has been difficult to obtain from the remote site, with the government putting out varying figures.

The Algerians have rejected the criticism of its go-it-alone approach, toughest from the British and Japanese governments whose nationals were among those kidnapped, saying they have had years of experience dealing with terrorist attacks. The Algerian government has also denied launching an assault on the facility, saying troops were merely responding — on Thursday — to the militants’ attempts to leave the field with with hostages.

The government official acknowledged Saturday morning though that this week’s assault was of a scale and complexity the country had never experienced before.

“This was a multinational operation,” he said of the kidnappers. “These are not Algerians. They’ve come from all over, Tunisia, Egypt, Mauritania. It’s the first time we’ve handled something on this scale. This one is different, it’s of another dimension,” he said. Although some of the escaped hostages in recent days have said some of the militants were not from Algeria, it is not yet clear that none were, and the Algerian government and militants have previously said the mastermind was an Algerian who had broken away from Al Qaeda in the Islamic Maghreb.

Nonetheless, the brazenness of the assault — dozens of Islamist fighters attacking one of the country’s most important gas-producing facilities — is likely to call into question Algeria’s much vaunted security strategy in dealing with the Islamic militants who shelter in its southern deserts, near the Mali border.

The Algerians have made a virtue out of keeping a lid on these militants, pushing them towards Mali in a strategy of modified containment, and ruthlessly stamping them out when they attempt an attack in the interior of the country. So far it has worked, and the country’s extensive oil and gas fields, an extremely important revenue source, have been protected.

That relative success had allowed Algeria to take a hands-off approach to the Islamist conquest of northern Mali in recent months, even while western governments have pleaded with it to become more directly involved in confronting the militants, who move across the hazy border between the two countries.

But now, with this week’s attack, Algeria may have to rethink its approach, analysts suggest, and engage in a more frontal strategy against the Islamists.

The senior government official appeared to acknowledge this in the interview Saturday, saying: “This has international implications. This is not just about us, it’s international.”

If the outcome represents a relative setback for Algeria, it could be viewed as a decided victory for Islamists who carried out the assault, who achieved several of their shared perennial goals: killing large numbers of westerners and disrupting states they have put on their enemies list — including Algeria.

Indeed, the militants said Friday they plan more attacks in Algeria, in a report carried on a Mauritanian news site that often carries their statements.

Steven Erlanger and Scott Sayare contributed reporting from Paris and Elisabeth Bumiller from London. .

This article has been revised to reflect the following correction:

Correction: January 19, 2013

Because of an editing error, an earlier version of this article misstated the nationality of a government official who said security forces were searching the gas complex. The official was Algerian, not Turkish.

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Social media dispute resolution stumps some companies

(Reuters) – If HBO cuts out on you in the middle of the latest “Girls” episode, and you have Charter Communications Inc as your cable provider, don’t try tweeting your dismay to their customer service department. Nobody will hear your lament.

Charter, the fourth largest cable provider in the U.S. with 5.2 million customers across 25 states, closed up its social-media based customer service team in December. “Umatter2Charter,” as it was known, had been taking customer complaints over Twitter and Facebook and trying to resolve them, but the company says it is now done with working out customer service issues in social media forums.

The move, which might seem to conflict with the growth of social media, highlights the difficulty some businesses are having with free-flowing, round-the-clock social media, its public nature and the expectation of immediate responses.

With Facebook users numbering about a billion and Twitter drawing 200 million, it might be hard to believe that any retail enterprise would drop out of the fray, but Charter isn’t the only major company to announce such a move. Also in December, the largest single grocery store in New England – the Wegmans in Northborough, Massachusetts – shuttered its Facebook page despite having some 8,000 fans.

“It’s a tough sport,” says J.D. Peterson, vice president of product marketing for San Francisco-based Zendesk, which helps companies manage customer service. “The real-time nature of it – at times the volume that can come from it – it’s very new and different for businesses.”

While Peterson’s company recommends going where the customers are – and a big chunk are clearly on social media – Peterson says not all businesses share the same philosophy or have the ability to engage those consumers in these open forums. But any company that has a significant online presence doesn’t really have a choice, he says, working with consumers through social media is expected of them.

Advocates for the use social media say the challenge actually presents an opportunity for businesses – showing they are responsive to complaints and care about their customers can bring in revenue.

“I have seen this time and time again, and the end result is that the interaction often turns an irate customer into an advocate for the brand. And that is worth it’s weight in gold,” says Mike Rowan, chief marketing office for Atlanta-based Swarm, which manages social media for companies.

That’s certainly the way retailer Lands’ End, a division of Sears Holdings Corp, sees it.

“When we started using social media tools like Facebook and Twitter in early 2009, it gave us a new opportunity to do what we’ve done for 50 years, which is connect with our customers,” says Michele Casper, Lands’ End’s senior director of public relations. “Whether it is through social media, our call centers or online, we offer the same level of customer service through each channel.”

DIVERTING COURSE

Charter says it is not walking away completely from social media – just the idea of providing customer service via Twitter. The company says it has ample other avenues for consumers to get help – including telephone, customer service counters and live chat on its web page.

“We communicate with thousands of customers each day on the phone and in person, and that’s where we’ll focus our efforts,” says Charter spokeswoman Anita Lamont. “While social media is a method some consumers choose to seek help, Charter offers phone and web-based contact solutions where all customers can access resources to provide assistance.”

The abandonment of the Facebook page at the Massachusetts Wegmans store, which caused a great fuss among the store’s “fans,” was, in large part, due to the inability to respond quickly enough to consumers. Store personnel couldn’t break off enough time from their other roles to constantly monitor the page, Wegmans spokeswoman Jo Natale says, allowing comments to sit unanswered – a no-no in the world of social media.

“Our top priority has always been, and will continue to be, providing incredible service to customers who shop in our stores,” she says. “And it isn’t as though there aren’t other avenues for folks to connect with us if they have a question or concern.”

As much as customers expressed surprise and dissatisfaction at the decision, Natale says, it came down to a decision that if the store couldn’t serve the Facebook page at a level it felt was expected that it shouldn’t do it at all.

“They quickly discovered, once the store opened and got very, very busy, that it wasn’t so easy to stay on top of comments or to find the time to post,” Natale says. “In a retail operation like ours, there isn’t anyone sitting at a PC or checking a mobile device throughout the day. It’s a fast-paced business that requires our people to be on the floor serving customers.”

(The author is a Reuters contributor. The opinions expressed are his own)

(Follow us @ReutersMoney or at http://www.reuters.com/finance/personal-finance; Editing by Beth Pinsker and Tim Dobbyn)

Social Media News Headlines – Yahoo! News

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Rob Lowe Acquits Himself Nicely in Lifetime's Prosecuting Casey Anthony (Review)

TV Watch

By PEOPLE TV Critic Tom Gliatto

01/19/2013 at 11:45 AM EST

Rob Lowe in Prosecuting Casey Anthony

Allen Fraser/Lifetime

    

When last we saw Rob Lowe in a Lifetime movie, he was playing murderer Drew Peterson with a sandy mustache that made him look like the world's most dangerous park ranger.

Lowe has a much better vehicle for himself in Prosecuting Casey Anthony (Saturday, 8 p.m. ET/PT), in which he plays Jeff Ashton, the Florida prosecutor who last year failed to win one of the country's most notorious capital cases.

As the court announces that Anthony, who had been charged with killing her 2-year-old daughter, Caylee, is guilty only of misdemeanor charges, Lowe clasps his hands in front of him and – in a fine, simple moment – appears to have all the life siphoned out of him. His face has the pallor of a wide smudge of cigarette ash.

The rest of the country, as you may recall, was more visibly stirred up at the stunning verdict.

Nancy Grace, clips of whose hectoring, furious TV commentary pepper the movie, famously declared: "The devil is dancing tonight."

Anthony has been living in seclusion since her release.

Prosecuting Casey Anthony basically tries to explain how public opinion and the deliberating jury responded so differently to the conflicting stories of prosecution and defense, one alleging that Anthony murdered the child and dumped her in a swamp, the other that the actual cause of death was accidental drowning in a swimming pool.

Even though this is based on prosecutor Ashton's book about the case, Imperfect Justice, in the movie he comes across as overly confident – Lowe laughs in derision during the defense's summation – even while his team's mistakes are quickly seized upon and exploited by opposing attorney Jose Baez (The Office's Oscar Nunez).

(Ashton, by the way, was sworn in Jan. 11 as Florida's new state attorney.)

The movie is shot with a stylistic blankness that does no harm to a compelling legal narrative, and the acting – like Lowe's – is unmannered, believable and to the point. Since most viewers will already come to this with memories from the endless news coverage, any other kind of acting would probably seem like scenery-chewing.

Not surprisingly, Anthony herself (Virginia Welch) has virtually nothing to say.

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Lilly drug chosen for Alzheimer's prevention study

Researchers have chosen an experimental drug by Eli Lilly & Co. for a large federally funded study testing whether it's possible to prevent Alzheimer's disease in older people at high risk of developing it.

The drug, called solanezumab (sol-ah-NAYZ-uh-mab), is designed to bind to and help clear the sticky deposits that clog patients' brains.

Earlier studies found it did not help people with moderate to severe Alzheimer's but it showed some promise against milder disease. Researchers think it might work better if given before symptoms start.

"The hope is we can catch people before they decline," which can come 10 years or more after plaques first show up in the brain, said Dr. Reisa Sperling, director of the Alzheimer's center at Brigham and Women's Hospital in Boston.

She will help lead the new study, which will involve 1,000 people ages 70 to 85 whose brain scans show plaque buildup but who do not yet have any symptoms of dementia. They will get monthly infusions of solanezumab or a dummy drug for three years. The main goal will be slowing the rate of cognitive decline. The study will be done at 50 sites in the U.S. and possibly more in Canada, Australia and Europe, Sperling said.

In October, researchers said combined results from two studies of solanezumab suggested it might modestly slow mental decline, especially in patients with mild disease. Taken separately, the studies missed their main goals of significantly slowing the mind-robbing disease or improving activities of daily living.

Those results were not considered good enough to win the drug approval. So in December, Lilly said it would start another large study of it this year to try to confirm the hopeful results seen patients with mild disease. That is separate from the federal study Sperling will head.

About 35 million people worldwide have dementia, and Alzheimer's is the most common type. In the U.S., about 5 million have Alzheimer's. Current medicines such as Aricept and Namenda just temporarily ease symptoms. There is no known cure.

___

Online:

Alzheimer's info: http://www.alzheimers.gov

Alzheimer's Association: http://www.alz.org

___

Follow Marilynn Marchione's coverage at http://twitter.com/MMarchioneAP

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Wall Street little changed; Intel drags, Morgan Stanley up

NEW YORK (Reuters) - U.S. stocks edged lower on Friday from a five-year high for the S&P 500 as a weak outlook from tech heavyweight Intel offset a better-than-expected quarterly profit at Morgan Stanley.

Shares of Intel Corp slumped 6.3 percent to $21.25 a day after it forecast quarterly revenue below analysts' estimates and announced plans for increased capital spending amid slow demand for personal computers.

"Intel earnings weren't that bad, although their revenue was weak. It sparks fears about not only the company but about the whole PC sector, and that's pressuring the market today," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

The Intel results were offset somewhat by a gain of more than 7 percent in shares of Morgan Stanley , which reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock jumped 7.4 percent to $22.29.

Overall, S&P 500 fourth-quarter earnings rose an estimated 2.5 percent, according to Thomson Reuters data. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.

The Dow Jones industrial average <.dji> was down 19.89 points, or 0.15 percent, at 13,576.13. The Standard & Poor's 500 Index <.spx> was down 4.58 points, or 0.31 percent, at 1,476.36. The Nasdaq Composite Index <.ixic> was down 15.90 points, or 0.51 percent, at 3,120.10.

On Thursday, the S&P 500 rose to its highest since late 2007, and that could prompt investors to lock in recent gains, analysts said.

But despite the day's decline, market sentiment was still positive on speculation that chances were better of avoiding a debt ceiling fight in Washington. House Republicans signaled on Thursday they might support a short-term extension of U.S. borrowing authority next month.

"The debt ceiling issue is sort of out of the news. The market has definitely become complacent. And we all know that the issue will be dealt with, we just need to find out when. If December is any guide, they are going to leave it up to the last minute so the market is definitely more complacent than it should be for now," Ghriskey said.

Economic data from China provided some support to the market, though the focus remained on U.S. corporate earnings. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.

General Electric reported a better-than-expected rise in earnings, spurred by robust demand in China and oil-producing countries. Shares were up 2.9 percent to $21.91.

Despite the gains by Morgan Stanley, financial stocks sagged as Capital One Financial reported disappointing profit. Capital One slumped 8.1 percent to $56.60, while the KBW bank index <.bkx> slipped 0.8 percent.

Research In Motion climbed 5.6 percent to $15.74 after Jefferies Group boosted the BlackBerry maker's rating and price target.

(Editing by Bernadette Baum and Kenneth Barry)

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India Ink: Image of the Day: Jan. 18

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Why Won’t the NRA Say Anything About Its (Possibly Fake) New Video Game?

If this app is, in fact, an unlicensed kind of hoax using the NRA acronym without permission, you’d think the NRA might want to squash the brand association quickly. Despite the gun lobby’s slow response to the Newtown massacre, the NRA isn’t afraid of issuing cease and desists or suing President Obama, the District of Columbia, or the Department of Justice.

RELATED: One Month After Newtown, NRA Releases First-Person Shooter Game with AK-47

What’s more, as ArsTechnica’s Kyl Orland points out, the NRA’s earlier efforts at officially licensed video games have been successful in the lobby’s seemingly unending efforts to the turn gun-violence debate away from guns and toward other industries accused of stoking violence. Orland writes:

So Practice Range fits right into the NRA’s arguments about video games’ insidious effects on our society. “There’s nothing wrong with guns in video games per se,” the organization seems to be saying; “the problem is the way those guns are used by most of the big-money game industry in service of ultra-violent revenge fantasies. If only the game industry could use its immense influence and power to promote responsible, safe use of guns, as we have with our humble app, the world might be a different place!”

If the app isn’t the NRA’s, then the app and the controversy surrounding it would seem to present an opportune time for NRA CEO Wayne LaPierre to hammer home his point about violence in video games. In his notorious post-Newtown press conference, LaPierre in the days following blamed the gaming industry for mass violence:

And here’s another dirty little truth that the media try their best to conceal: There exists in this country a callous, corrupt and corrupting shadow industry that sells, and sows, violence against its own people.

The video-game industry has been reeling as it struggles to put together a lobbying defense of its own. Of course, all these theories would be moot if the app is indeed the NRA’s. As of today, the app is still up in the iTunes Store.

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Designers Create Dream Inauguration Dresses for Michelle Obama

Stylewatch
Style News Now

01/17/2013 at 01:00 PM ET

Courtesy L’Wren Scott; Inset: Cliff Owen/AP

It’s a big week for Michelle Obama: she turns 49 today, joined Twitter this morning and will stand by as her husband is sworn in to his second presidential term on Monday. (And here we thought our weeks were busy …)

Though we’ve been captivated by many of Mrs. O’s past dresses, we’re quite excited to see what she wears for Monday’s Inauguration and parties. According to WWD, the First Lady’s staff reached out to several different designers for samples and ideas — Derek Lam, Marchesa, Michael Kors, Prabal Gurung, Tory Burch, Tracy Reese, Narciso Rodriguez, Naeem Khan, Thakoon and Jason Wu among them.

WWD also asked several designers to create dream dress sketches for the First Lady and her fashion-forward daughters, Malia, 14, and Sasha, 11. Some of our favorites include L’Wren Scott’s belted, lace-topped blue gown (left), and Nicole Miller’s stunning strapless red dress, with youthful, complementary blue frocks for the girls (below).

Courtesy Nicole Miller

For the 2009 Inauguration, Obama selected a white one-shoulder dress by then-newbie Jason Wu; her stunning style moment instantly put the young designer on the map.

The dress was “a masterpiece,” the First Lady said one year after its debut. “It is simple, it’s elegant, and it comes from this brilliant young mind, someone who is living the American Dream.” No doubt her choice on Monday will be equally as beautiful — and important — as well. Tell us: How do you envision the First Lady looking on Inauguration day? 

–Kate Hogan

PHOTOS: SEE THE FIRST LADY’S 10 MOST STUNNING GOWNS

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Flu remains widespread in US; eases in some areas

Health officials say nine more deaths of children from the flu have been reported, bringing the total this flu season to 29.

In a typical season, about 100 children die of the flu, so it is not known whether this year will be better or worse than usual.

The Centers for Disease Control and Prevention says half of confirmed flu cases so far are in people 65 and older.

This year's season is earlier than normal and the dominant flu strain is one that tends to make people sicker. The flu is widespread in all states but Tennessee and Hawaii and is starting to ease in some areas.

Health officials say it's not too late to get a flu shot to help protect against the flu.

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Wall Street climbs, boosted by eBay results, rosy data

NEW YORK (Reuters) - Wall Street rose on Thursday, with the S&P 500 hitting a five-year intraday high, as investors were cheered by rosy economic data and better-than-expected results from online marketplace eBay .

In encouraging signs for the labor and housing sectors, data showed the number of Americans filing new claims for unemployment benefits fell to a five-year low last week, while residential construction jumped in December.

"It reminds us that although the situation on the job front hasn't improved significantly, slowly but surely it is getting better," said Andres Garcia-Amaya, global market strategist at J.P. Morgan Funds, in New York.

EBay's shares rose 3 percent to $54.50 a day after it reported holiday quarter results that just beat Wall Street expectations. It gave a 2013 forecast that was within analysts' estimates.

The S&P climbed above an intraday peak set in September to its highest since December 2007.

Gains were capped by weakness in the financial sector, with Bank of America and Citigroup down more than 2 percent following results.

Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits, while its new chief executive cautioned the bank needed more time to deal with its problems.

Bank of America fell 3.7 percent to $11.36, while Citigroup dropped 2.3 percent to $41.50.

The Dow Jones industrial average <.dji> gained 61.49 points, or 0.46 percent, to 13,572.72. The Standard & Poor's 500 Index <.spx> added 6.36 points, or 0.43 percent, to 1,478.99. The Nasdaq Composite Index <.ixic> rose 18.19 points, or 0.58 percent, to 3,135.73.

Overall, S&P 500 corporate earnings for the fourth quarter are expected to see a 2.3 percent gain, Thomson Reuters data showed. Expectations for the quarter have moderated significantly since October.

With investors anticipating the current earnings season to be lackluster, their focus will be on the corporate earnings outlook for the months ahead, analysts said.

Shares of Boeing extended recent declines after the United States and other countries grounded the company's new 787 Dreamliner after a second incident involving battery failure. That comes in the wake of a series of other recent mishaps that have raised safety-related concerns about the aircraft. Boeing slipped 0.8 percent to $73.77 and is down nearly 2 percent for the week so far.

(Editing by Bernadette Baum)

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Cameron to Outline a Recast European Role for Britain

Weighted down by centuries of entrenched wariness in this island nation toward the Continent — and the knowledge that a gallery of his predecessors as Conservative prime ministers saw their tenures blighted by divisions within the party over the issue — Mr. Cameron is heading for Amsterdam on Friday to set out his vision of a sharply whittled-down role for Britain in the affairs of 21st-century Europe.

The speech in the Netherlands, carefully chosen as a country with a strong historical friendship with Britain, is a watershed moment for Mr. Cameron, and for Britain. It could be a deeply jarring occasion, as well, for other European nations, which have grown increasingly impatient, angry even, with Britain’s policy during the crisis in the euro zone. Some European officials have described as blackmail its use of the crisis — one that Britain, with the pound, has largely escaped — to demand a new, “pick-and-mix” status for itself within the 27-nation European Union.

After months of delay, Mr. Cameron is expected to brush aside the warnings of the Obama administration and European leaders and call for a referendum on whether Britain should remain squarely in Europe or negotiate a more arm’s-length relationship, most likely before the next Parliament’s mandate expires in 2018. In a clamorous House of Commons on Wednesday, the prime minister set out his thinking.

“Millions of people in this country, myself included, want Britain to stay in the European Union,” he said. “But they believe that there are chances to negotiate a better relationship. Throughout Europe, countries are looking at forthcoming treaty change, and asking, ‘What can I do to maximize my national interest?’ That is what the Germans will do. That is what the Spanish will do. That is what the British should do.”

For months, Mr. Cameron has been holding off on a promise to explain just what he wants from Europe. As a reformist Conservative pressing ahead with, among other things, a plan to legalize gay marriage, he has scant common ground with the “little Englanders” in his party, the core of about 100 members who make up a third of its representation in Parliament.

But Mr. Cameron can see votes, too, in the strong anti-Europe currents that run wherever people in Britain gather.

In pubs and bars, on radio and in Parliament itself, talk of the European Union tends to center on the bloc’s real — and, in some cases, apocryphal — abuses: its highhanded, bloated bureaucracy, with nearly 1,000 featherbedded officials earning more than Mr. Cameron’s $230,000 salary as prime minister; its endless proliferation of rules on everything from the length of dog leashes to the shape of carrots; the recent claim by a former high-ranking Cameron aide that government ministers spend 40 percent of their time dealing with the mass of pettifogging European “directives,” many of them widely ignored elsewhere in Europe.

Not only has Mr. Cameron been hemmed in by deep divisions over Europe within the Conservative Party — an issue that helped unseat Edward Heath, Margaret Thatcher and John Major as prime ministers — but he has also been wary of stirring a fresh wave of anger among other European leaders, particularly Chancellor Angela Merkel of Germany, a center-right politician and onetime ally in European councils.

Her aides have described her as frustrated with Mr. Cameron’s maneuvering and, as she is said to see it, his bid to take advantage of other European states as they struggle to save the euro and keep the most debt-laden nations, like Greece, Portugal and Spain, from dropping out of the European Union.

Concern about the reactions in Berlin and Paris prompted a last-minute rescheduling of the Amsterdam speech. Germany and France had protested that the original date, next Monday, might overshadow long-planned celebrations that day of the 50th anniversary of the treaty between them, itself a landmark in the building of postwar Europe, that sealed their reconciliation after the wounds of World War II.

Along with this, commentators say, Mr. Cameron has been recalculating the ways in which the European issue can be managed to bolster the Conservatives’ sagging prospects in a general election expected in 2015, in which polls show them lagging as much as 13 percentage points behind the opposition Labour Party. He has also been contending with heavy lobbying by American officials, including President Obama.

The Americans, diplomats say, have told Mr. Cameron squarely in private what made headlines here last week when a senior State Department official, Philip Gordon, who is assistant secretary for European affairs, spoke on the issue with British reporters. Mr. Gordon said a continued “strong British voice” in an “outward-looking” European Union was in America’s interests, and warned specifically against the referendum on Europe that is an important component in Mr. Cameron’s plans. “Referendums,” Mr. Gordon said, “have often turned countries inward.”

For all his delaying, his aides say, Mr. Cameron is ready now to outline a strategy for renegotiating Britain’s status in the European Union in a way that would keep Britain free from the centralizing forces at work. Other major European states, France and Germany in particular, see a new federal Europe with enhanced powers of fiscal oversight as essential to the long-term survival of the tottering euro.

Alan Cowell contributed reporting from Paris, and Stephen Castle from London.

This article has been revised to reflect the following correction:

Correction: January 17, 2013

An earlier version of this article misstated the year that a referendum approving Britain’s entry into the European Economic Community, the precursor to the European Union, was held. It was 1975, not 1974.

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PlayStation 4 and Xbox 720 could cost just $350, expected to launch this fall

Sony (SNE) and Microsoft (MSFT) are both expected to announce their next-generation gaming consoles at the Electronics Entertainment Expo in June, or even a little before then. While we have seen rumored specs for both the PlayStation 4 and the Xbox 720, one thing that has escaped us is a possible price tag. In a research note to investors on Monday, Colin Sebastian of Baird Equity Research suggested that both consoles could retail for between $ 350 and $ 400 in the U.S., Games Industry International reported. The analyst revealed that during the Consumer Electronics Show last week he spent time “with a number of companies involved in video game development and distribution,” who informed him that the next-generation consoles will be “largely built from ‘off the shelf’ high-end PC components, along with hybrid physical/digital distribution models, enhanced voice controls and motion sensing, and broad multi-media capabilities.”

[More from BGR: HTC One SV review]

Sebastian believes that “a PC-based architecture (Intel chips in the case of Xbox) should have a number of advantages over custom-developed silicon.” In his opinion, there will be less of a “learning curve” for software developers compared to completely new technology, and the cost of production and retail price points should be lower than prior console launches.

[More from BGR: Dell’s bold plan to reinvent itself: A USB-sized PC that gives access to Windows, Mac OS, Chrome OS]

Microsoft launched the Xbox 360 in 2005 with a top end price of $ 399, while Sony released the PlayStation 3 a year later for $ 499 and $ 599 respectively.

“It will be easier to build online services around PC chip architecture, including flexible business models (free-to-play, subscriptions) and multi-media (over the top) content offerings,” the analyst added. “For Microsoft, this design will also allow for more integration with Windows 8 and Windows Mobile devices.”

Sebastian expects Sony to launch the PlayStation 4 in October and Microsoft to launch the Xbox 720 in November.

This article was originally published on BGR.com

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John Mayer Performs for First Time in 10 Months After Battling Voice Problems

By Tim Nudd

01/17/2013 at 11:00 AM EST

John Mayer on stage in Bozeman

Courtesy John Mayer

Sing it, John!

Forced to be all but silent for 10 months as he recovered from a second bout of vocal-cord problems, John Mayer returned to the stage Wednesday, performing "Speak for Me" at a benefit concert in Montana.

"And we're back," read a post on his Twitter page, along with a photo of Mayer singing in Bozeman.

He may be back, but he's far from 100 percent.

"I don't have a ton of range ... I'm a 70-year-old version of myself," Mayer said – as quoted on Twitter by Anthony Mason, co-host of CBS This Morning: Saturday, which will air a story Feb. 10 about Mayer's 10 months of vocal therapy.

"It's like a painter with just reds and purples," Mayer says of his range.

A full recovery will still take months.

Mayer, 35, has twice battled a granuloma in his throat. The problem, for which he had surgery in 2011, returned last March, necessitating a second round under the knife last October.

"They cut this thing out, then they inject your vocal cords with Botox, which freezes [them] so [they] can heal without smacking up against the other side," he said of the surgery.

Mayer, who has been dating pop star Katy Perry, has a home in Montana.

He organized Wednesday's benefit to help firefighters who battled last summer's Pine Creek Fire, which destroyed more than 8,500 acres of forest and farmland near Bozeman.

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Large study confirms flu vaccine safe in pregnancy

NEW YORK (AP) — A large study offers reassuring news for pregnant women: It's safe to get a flu shot.

The research found no evidence that the vaccine increases the risk of losing a fetus, and may prevent some deaths. Getting the flu while pregnant makes fetal death more likely, the Norwegian research showed.

The flu vaccine has long been considered safe for pregnant women and their fetus. U.S. health officials began recommending flu shots for them more than five decades ago, following a higher death rate in pregnant women during a flu pandemic in the late 1950s.

But the study is perhaps the largest look at the safety and value of flu vaccination during pregnancy, experts say.

"This is the kind of information we need to provide our patients when discussing that flu vaccine is important for everyone, particularly for pregnant women," said Dr. Geeta Swamy, a researcher who studies vaccines and pregnant women at Duke University Medical Center.

The study was released by the New England Journal of Medicine on Wednesday as the United States and Europe suffer through an early and intense flu season. A U.S. obstetricians group this week reminded members that it's not too late for their pregnant patients to get vaccinated.

The new study was led by the Norwegian Institute of Public Health. It tracked pregnancies in Norway in 2009 and 2010 during an international epidemic of a new swine flu strain.

Before 2009, pregnant women in Norway were not routinely advised to get flu shots. But during the pandemic, vaccinations against the new strain were recommended for those in their second or third trimester.

The study focused on more than 113,000 pregnancies. Of those, 492 ended in the death of the fetus. The researchers calculated that the risk of fetal death was nearly twice as high for women who weren't vaccinated as it was in vaccinated mothers.

U.S. flu vaccination rates for pregnant women grew in the wake of the 2009 swine flu pandemic, from less than 15 percent to about 50 percent. But health officials say those rates need to be higher to protect newborns as well. Infants can't be vaccinated until 6 months, but studies have shown they pick up some protection if their mothers got the annual shot, experts say.

Because some drugs and vaccines can be harmful to a fetus, there is a long-standing concern about giving any medicine to a pregnant woman, experts acknowledged. But this study should ease any worries about the flu shot, said Dr. Denise Jamieson of the Centers for Disease Control and Prevention.

"The vaccine is safe," she said.

___

Online:

Medical journal: http://www.nejm.org

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Wall Street flat as Apple gains, Boeing weighs

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks.

Goldman Sachs shares hit their highest level since June 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.

JPMorgan shares edged up 0.2 percent at $46.43 and Goldman was up 2.5 percent to $139.01. The KBW bank index <.bkx> gained 0.3 percent.

But with only 37 companies in the S&P 500 having reported earnings so far this season, investors are exercising caution until signs of growth can emerge.

A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.

"Domestically, we are pretty well positioned," said Marc Helman, Vice President, Institutional Services at HFP Capital Markets in New York.

"But globally it's more of a mixed bag and that is where we have some of our concerns, so you are going to continue to see people wait on the sidelines until they get a little more clarity through the earnings season."

Shares of Dow component Boeing fell 3.1 percent to $74.59, the biggest drag on the Dow, on safety concerns for its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.

The Dow Jones industrial average <.dji> shed 19.70 points, or 0.15 percent, to 13,515.19. The Standard & Poor's 500 Index <.spx> edged up 0.32 points, or 0.02 percent, to 1,472.66. The Nasdaq Composite Index <.ixic> gained 7.26 points, or 0.23 percent, to 3,118.04.

The Nasdaq moved higher on gains in Apple shares, which were up 3.2 percent at $501.66 after losses in three straight sessions. Morgan Stanley stamped the tech giant as a "best idea," citing overblown concerns about iPhone shipments.

Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 4 percent to $12.65 after jumping more than 21 percent over the past two sessions.

U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

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WORLD: France Battles Rebels in Mali

January 16, 2013By Mac William Bishop, Channon Hodge, Pedro Rafael Rosado, Axel Gerdau, Krishnan Vasudevan and Elaisha Stokes

The Times's Greg Winter talks about the escalating conflict in Mali, where the government along with France is battling Islamist insurgents.

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Leaked BlackBerry 10 sales manual reveals new images and details

The buzz continues to mount leading up to the January 30th unveiling of Research In Motions’s (RIMM) next-generation BlackBerry 10 platform, but we’re not sure how much is left to learn. Many BlackBerry 10 features have already been announced, we’ve seen RIM’s first two next-generation handsets — the BlackBerry Z10 and the BlackBerry X10 — a number times, and now Rogers’ internal sales manual for BlackBerry 10 devices has leaked thanks to CrackBerry. The manual is packed full of images and it also confirms some specs reported a few months ago, and the full document is embedded at the source link below. RIM’s next-generation operating system and handsets will be unveiled during a press conference on January 30th, and BGR will be on hand reporting live.

[More from BGR: Dell’s bold plan to reinvent itself: A USB-sized PC that gives access to Windows, Mac OS, Chrome OS]

This article was originally published on BGR.com

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Joey Fatone Runs a Half Marathon - and a Full Marathon - in One Weekend

01/16/2013 at 10:25 AM EST

For two years, Joey Fatone cheered on his wife, Kelly, as she ran the Goofy Challenge at Walt Disney World: a half marathon followed by a full marathon the following day. But when Kelly fractured her foot two months ago, Fatone decided to run in her place.

"I just said, 'I'll do it for you,'" he tells PEOPLE. "And it became something I really wanted to do for her."

After competing on Dancing with the Stars, Fatone, 35, had decided to get into shape.

"I wasn't training to run a marathon," he says. "I just wanted to start working out. I wanted to build more muscle and upper body strength. I have no definition in my chest! So that's how I started. Then I decided, 'Let's see how far I can run.' And it went from there."

The night before the marathon, Fatone did something that could have derailed the entire thing: at the birthday party for his 3-year-old daughter, Kloey, he jumped on a trampoline for three hours. "I knew I could hurt myself," he says. "But it was her birthday. What was I going to do? I woke up the next day feeling really good and ready to run."

On Saturday, Kelly Fatone packed Joey a lunch – along with Advil and blister ointment. During the 13.1 mile trek, Fatone would run for a minute, followed by a minute of brisk walking. He finished the course in three hours, 10 minutes. "It really wasn't that bad," he says.

The next day, he tackled the 26.2-mile marathon. "I never thought, 'I'm not going to do this,' but I did think, 'What am I doing?'" he says.

Around mile 18, his left knee started to throb. "I knew if I stopped, I'd be screwed," he says. "So I just kept going."

Finishing the marathon in six hours, 19 minutes, Fatone was triumphant. "Your body can do so much if you mentally prepare," he says. "I really do feel like I can do anything now. It's a great feeling."

On another hot topic, pal Justin Timberlake's new song "Suit & Tie," Fatone has nothing but praise for his former boy bandmate. "I like it," he says. "It's a different sound for him, but Justin's music grows on you. After you hear it a few times, you love it!"

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ER visits tied to energy drinks double since 2007

SAN FRANCISCO (AP) — A new government survey suggests the number of people seeking emergency treatment after consuming energy drinks has doubled nationwide during the past four years, the same period in which the supercharged drink industry has surged in popularity in convenience stores, bars and on college campuses.

From 2007 to 2011, the government estimates the number of emergency room visits involving the neon-labeled beverages shot up from about 10,000 to more than 20,000. Most of those cases involved teens or young adults, according to a survey of the nation's hospitals released late last week by the Substance Abuse and Mental Health Services Administration.

The report doesn't specify which symptoms brought people to the emergency room but calls energy drink consumption a "rising public health problem" that can cause insomnia, nervousness, headache, fast heartbeat and seizures that are severe enough to require emergency care.

Several emergency physicians said they had seen a clear uptick in the number of patients suffering from irregular heartbeats, anxiety and heart attacks who said they had recently downed an energy drink.

More than half of the patients considered in the survey who wound up in the emergency room told doctors they had downed only energy drinks. In 2011, about 42 percent of the cases involved energy drinks in combination with alcohol or drugs, such as the stimulants Adderall or Ritalin.

"A lot of people don't realize the strength of these things. I had someone come in recently who had drunk three energy drinks in an hour, which is the equivalent of 15 cups of coffee," said Howard Mell, an emergency physician in the suburbs of Cleveland, who serves as a spokesman for the American College of Emergency Physicians. "Essentially he gave himself a stress test and thankfully he passed. But if he had a weak heart or suffered from coronary disease and didn't know it, this could have precipitated very bad things."

The findings came as concerns over energy drinks have intensified following reports last fall of 18 deaths possibly tied to the drinks — including a 14-year-old Maryland girl who died after drinking two large cans of Monster Energy drinks. Monster does not believe its products were responsible for the death.

Two senators are calling for the Food and Drug Administration to investigate safety concerns about energy drinks and their ingredients.

The energy drink industry says its drinks are safe and there is no proof linking its products to the adverse reactions.

Late last year, the FDA asked the U.S. Health and Human Services to update the figures its substance abuse research arm compiles about emergency room visits tied to energy drinks.

The Substance Abuse and Mental Health Services Administration's survey was based on responses it receives from about 230 hospitals each year, a representative sample of about 5 percent of emergency departments nationwide. The agency then uses those responses to estimate the number of energy drink-related emergency department visits nationwide.

The more than 20,000 cases estimated for 2011 represent a small portion of the annual 136 million emergency room visits tracked by Centers for Disease Control and Prevention.

The FDA said it was considering the findings and pressing for more details as it undertakes a broad review of the safety of energy drinks and related ingredients this spring.

"We will examine this additional information ... as a part of our ongoing investigation into potential safety issues surrounding the use of energy-drink products," FDA spokeswoman Shelly Burgess said in a statement.

Beverage manufacturers fired back at the survey, saying the statistics were misleading and taken out of context.

"This report does not share information about the overall health of those who may have consumed energy drinks, or what symptoms brought them to the ER in the first place," the American Beverage Association said in a statement. "There is no basis by which to understand the overall caffeine intake of any of these individuals — from all sources."

Energy drinks remain a small part of the carbonated soft drinks market, representing only 3.3 percent of sales volume, according to the industry tracker Beverage Digest. Even as soda consumption has flagged in recent years, energy drinks sales are growing rapidly.

In 2011, sales volume for energy drinks rose by almost 17 percent, with the top three companies — Monster, Red Bull and Rockstar — each logging double-digit gains, Beverage Digest found. The drinks are often marketed at sporting events that are popular among younger people such as surfing and skateboarding.

From 2007 to 2011, the most recent year for which data was available, people from 18 to 25 were the most common age group seeking emergency treatment for energy drink-related reactions, the report found.

"We were really concerned to find that in four years the number of emergency department visits almost doubled, and these drinks are largely marketed to younger people," said Al Woodward, a senior statistical analyst with the Substance Abuse and Mental Health Services Administration who worked on the report.

Emergency physician Steve Sun said he had seen an increase in such cases at the Catholic hospital where he works on the edge of San Francisco's Golden Gate Park.

"I saw one young man who had mixed energy drinks with alcohol and we had to admit him to the hospital because he was so dehydrated he had renal failure," Sun said. "Because he was young he did well in the hospital, but if another patient had had underlying coronary artery disease, it could have led to a heart attack."

___

Follow Garance Burke on Twitter at http://twitter.com/garanceburke

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Wall Street knocked lower by debt limit worries, Apple

NEW YORK (Reuters) - U.S. stocks fell on Tuesday on worries over the debate brewing in Washington over raising the U.S. borrowing limit, while Apple's stock extended its fall on concerns of weaker demand for its products.

Economic data offset some of the negative tone after retail sales rose more than expected in December. But manufacturing activity in New York state contracted for the sixth month in a row in January.

On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.

Resolving the debt ceiling debate is more a question of how than if. Investors don't expect a U.S. default, but they are also wary of another eleventh-hour agreement like the one in August 2011.

"The concern is just the uncertainty and the negotiating going down to the last minute," said John Fox, co-manager of the FAM Value Fund, in Cobleskill, New York.

Apple fell for the third day in a row, weighing on the Nasdaq after reports on Monday of cuts to orders for iPhone parts. Apple was down more than 2 percent at $491.96. The stock fell below $500 for the first time in almost a year on Monday.

The Dow Jones industrial average <.dji> slipped 29.55 points, or 0.22 percent, to 13,477.77. The Standard & Poor's 500 Index <.spx> fell 4.35 points, or 0.30 percent, to 1,466.33. The Nasdaq Composite Index <.ixic> gave up 18.82 points, or 0.60 percent, at 3,098.68.

Although Tuesday's economic data was mostly positive, reaction in the market was likely to be limited since investors' attention centered on the negotiations over the debt ceiling and spending cuts, said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, NY.

"'Fiscal Cliff Two' is now the principal focus of investors," he said.

An expected lackluster earnings season also kept investors from taking aggressive bets. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.9 percent from a year ago, Thomson Reuters data showed.

Homebuilder Lennar reported a sharp rise in quarterly profit, but the stock fell 2.2 percent to $40.11 on worries that growth in orders was slowing.

Shares of Dell rose 3.1 percent to $12.67 the day after sources said the company is in talks with private equity firms on a potential buyout.

Facebook added 0.6 percent to $31.11 ahead of a major news event at its headquarters. The secretive nature of the event has triggered a guessing game about what the company could unveil.

(Editing by Kenneth Barry)

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India Ink: Image of the Day: Jan. 15

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Tata Consultancy says demand in U.S. strong across segments

MUMBAI/BANGALORE (Reuters) – India’s top software services provider Tata Consultancy Services Ltd (TCS) said demand in the key U.S. market is strong across its business segments, with regional banks stepping up spending on technology.

The Mumbai-based company said on Monday that profit jumped 23 percent in the quarter ended December, beating analysts‘ expectations. TCS also gave an upbeat growth outlook, sending its shares up the most in more than eight months and prompting analyst upgrades on the stock.

Economic uncertainty in the United States had fuelled investor worry that clients may keep their IT budgets tight and postpone decision-making on technology spending.

“The U.S. is still a growth market,” Chief Financial Officer S Mahalingam told Reuters in an interview at his Mumbai office on Tuesday. “If it sneezes then we have got a big problem. (But) the demand is very good across all segments.”

The United States accounts for about half of TCS’ revenue, compared with more than 60 percent overall for India’s $ 100 billion outsourcing industry.

Banks, insurers and other financial services clients usually account for more than a third of the revenue at companies such as TCS’ rival Infosys Ltd , where better-than-expected results on Friday and an increased revenue outlook powered a 20 percent rise in its shares over two sessions.

“(The) U.S. economy has regional banks as well, and they are starting to spend. So there is growth,” Mahalingam said.

While Monday’s results prompted analysts from HSBC and CLSA to increase their ratings on TCS stock, some analysts said volume growth was not especially impressive.

Volumes, or billable hours, rose 1.25 percent on a sequential basis, while revenue in dollar terms increased 3.3 percent over the September quarter.

“The key disappointment was soft volume growth of 1.25 percent quarter-on-quarter. However, we remain assured by management’s optimistic outlook on FY14 growth,” Nomura analysts wrote in a note to clients.

(Editing by Tony Munroe and Ryan Woo)

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Mindy McCready's Boyfriend David Wilson Died of a Self-Inflicted Gunshot Wound

By Steve Helling

01/15/2013 at 11:30 AM EST

Last year, things were looking up for Mindy McCready after a judge awarded her custody of her 6-year-old son, Zander.

"It was good news," her rep, Kat Atwood, tells PEOPLE. "The custody battle was over. Zander was comfortable at home with Mindy. She had a new baby. Things were going well."

But everything fell apart for McCready on Sunday night, when her partner, David Wilson, shot himself.

"It was a self-inflicted gunshot wound," Atwood says. "Now they're working on funeral arrangements and figuring out where to go from here."

For the first 24 hours after the shooting, McCready, 37, was alone with her children. (She and Wilson had a 9-month-old son, Zayne.) "Her family drove up from Florida," says Atwood. "I'm not exactly sure when they got there, but her personal friends arrived late last night."

This marks the latest setback in the troubled life of McCready, who has struggled with custody battles, addiction and her own suicide attempts.

Those close to her hope that the love of family and friends will help her through this difficult ordeal. "She is surrounded by people who love her and are there for her," says Atwood. "It's a very sad time, but she has support in place."

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Experts: Proposed NY gun law might hinder therapy

NEW YORK (AP) — Mental health experts say a proposed New York state gun control law might interfere with treatment of potentially dangerous people and even discourage them from seeking help.

One provision would require therapists and doctors to tell government authorities if they believe a patient is likely to harm himself or others. That could lead to revoking a patient's gun permit and seizing the gun.

Dr. Paul Appelbaum, director of law, ethics and psychiatry at Columbia University, said that provision might discourage people from revealing thoughts of harm to a therapist, or even from seeking treatment at all.

Dr. Mark Olfson, a psychiatry professor at Columbia, said if the law is crudely applied, it could erode the trust patients have in their doctors which is needed for effective care.

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S&P, Nasdaq dip as Apple weighs

NEW YORK (Reuters) - Wall Street slipped on Monday, weighed down by shares of Apple in the face of demand concerns, while investors faced a busy week for earnings in what is expected to be a lackluster quarter.

Apple lost 2.8 percent to $505.84 as the biggest drag on both the S&P 500 and Nasdaq 100 <.ndx> indexes after reports that the tech company has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock earlier hit a session low of $498.51, the first dip below $500 since February 16.

"There is this speculation building 'Is this the end of Apple?'" said Carol Pepper, chief executive of Pepper International in New York.

But Pepper said Apple also "doesn't have to grow at the rate it was to do extremely well. It's still going to be one of the marquee companies of the U.S. and the world."

Apple suppliers also lost ground, with Cirrus Logic off 6.8 percent to $29.43 and Qualcomm down 1.2 percent to $64.13. The S&P tech sector <.gspt> gave up 0.9 percent as the worst perfumer of the 10 major S&P sectors.

The pace of earnings season picks up this week with 38 S&P 500 companies set to report, including Goldman Sachs , Bank of America , Intel and General Electric .

Overall earnings are expected to grow by just 1.9 percent in this reporting period, according to Thomson Reuters data.

President Barack Obama is expected to hold a news conference, which will cover looming budget and debt ceiling due dates on Monday, White House officials said.

"We could have some more noise because they are trying to get people to focus on their issues, but I don't think they are going" to allow the government to default, said Pepper.

Separately, Federal Reserve Chairman Ben Bernanke will be speaking on monetary policy, recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (2100 GMT).

The Dow Jones industrial average <.dji> added 6.79 points, or 0.05 percent, to 13,495.22. The Standard & Poor's 500 Index <.spx> shed 3.37 points, or 0.23 percent, to 1,468.68. The Nasdaq Composite Index <.ixic> lost 14.16 points, or 0.45 percent, to 3,111.48.

Appliance and electronics retailer Hhgregg Inc slumped 9.6 percent to $7.13 after the electronics and appliance retailer cut its same-store sales forecast for the full year.

Transocean Ltd has disclosed that billionaire activist investor Carl Icahn has acquired a 1.56 percent stake in the offshore rig contractor and is looking to increase that holding. Its shares rose 2.5 percent to $55.43.

The Dow, which does not list Apple as one of its components, fared better than the other two indexes as Hewlett-Packard rose 3.8 percent to $16.78 after JPMorgan upgraded its rating on the stock and raised its price target to $21 from $15.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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IHT Rendezvous: 2012: The Year of Extreme Weather

The weather reports are in. 2012 was the hottest and the most extreme year on record in many places.

While parts of China are enduring the harshest winter in 30 years, the Antarctic is warming at an alarming rate. In Australia, out of control bushfires are partially the result of record-breaking weather (new colors were added to weather forecast maps, to account for the new kind of heat). In the United States, where Hurricane Sandy devastated parts of New Jersey and New York and where extreme drought still lingers in the Midwest, the average temperature in 2012 was more than a whole degree Fahrenheit (or 5/9 of a degree Celsius) higher than average – shattering the record.

On Friday a long-term weather forecast for the United States was released, when the National Climate Assessment and Development Advisory Committee published a draft of the third Climate Assessment Report. Like last year’s weather, the assessment does not pull its punches.

“Climate change threatens human health and well-being in many ways, including impacts from increased extreme weather events, wildfire, decreased air quality, diseases transmitted by insects, food, and water, and threats to mental health,” write the authors as part of their key findings.

Experts from 13 federal agencies, including NASA, the State Department and the Department of Defense put together the report under the auspices of the United States Global Change Research Program.

While some predictions have been adjusted upward from previous reports, the difference in tone in this newest assessment is striking. The second assessment, published in 2009, predicted of thresholds that will be crossed, while the 2013 draft presents a reality in which some of the changes are already irreversible.

“As a result of past emissions of heat-trapping gases, some amount of additional climate change and related impacts is now unavoidable,” wrote the authors in the executive summary.

Adaptation to climate change is discussed in the new draft, which is open for public comment before it is officially released early in 2014. The authors write:

Planning and managing based on the climate of the last century means that tolerances of some infrastructure and species will be exceeded. For example, building codes and landscaping ordinances will likely need to be updated not only for energy efficiency, but also to conserve water supplies, protect against insects that spread disease, reduce susceptibility to heat stress, and improve protection against extreme events.

The authors predict that within the next several decades, temperatures will go up between 2 and 4 degrees Fahrenheit, roughly 1 and 2 degrees Celsius. The experts discuss a possible 10 degree Fahrenheit (or more than 5 degrees Celsius) warming by the end of the century, in the case that not enough is done to curb emissions. (The World Bank recently released a report of the dangers of a world warmed by 4 degrees Celsius).

Sea levels could rise up to four feet, or 1.2 meters, within the century, according to the experts.

Though official assessments, predictions and studies like these serve to reinforce what many already fear, they do not necessarily lead to policy change. Andrew Restuccia predicted in a Politico article that the new report would ultimately do little to change the embittered climate-change politics in that country. He wrote:

But don’t hold your breath for serious action on climate change in Congress. Republicans and some moderate Democrats remain opposed to measures to address climate change. The Obama administration, meanwhile, is moving forward with its own efforts on climate change, including beefed-up fuel economy standards and greenhouse gas regulations for new power plants.

Sometimes official assessment reports provide substance for those who question man-made climate change.

My colleague Andrew C. Revkin recently reported on how a revision by Britain’s Weather and Climate Agency on short-term global temperature forecast became fodder for climate change deniers. The fact that the government agency had revised its numbers downward allowed climate change skeptics to argue that the world was not significantly warming after all.

In December, Alec Rawls, a climate-change skeptic, made a name for himself by leaking an unpublished Assessment Report from the Intergovernmental Panel on Climate Change, one of the major global players in climate change assessment. Mr. Rawls tried to argue that the panel’s language on solar radiation was an admission that much of the warming trends were caused by the sun, not human activity.

As Andrew reported at time, his claims were mostly debunked.

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RIM says 15,000 BlackBerry 10 apps submitted in under two days

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It'll Be a Girl for Nick & JoAnna Garcia Swisher

Mom & Babies
Celebrity Baby Blog

01/14/2013 at 11:45 AM ET

Paul Marks/Broadimage

This spring will bring more than just May flowers for Nick and JoAnna Garcia Swisher — the couple will welcome a baby girl that month as well, they confirm to PEOPLE exclusively.

“I’m just so excited,” the outfielder and first baseman, 32, told PEOPLE at the InStyle/Warner Brothers Golden Globes after party on Sunday. “As long as she’s healthy, that’s all I really care about.”

As for the mommy-to-be, 33, the former Animal Practice star is just enjoying the “honeymoon stage” of her pregnancy after a “humbling” week of being “really into mayonnaise.”

“I tried to put it on everything but that faded,” Garcia Swisher, who was wearing Marina B. jewelry, explains. “Now I’m just trying to eat healthy and you know, the further I get in the pregnancy the more I need to eat!”

With Swisher — who recently wrapped a stint with the New York Yankees — accepting an offer to play for the Cleveland Indians, the expectant parents have been busy prepping three different nurseries for their bundle of joy.

“My husband works in one city, I work in a second city and we live in a third city, so we have a lot of cribs to buy,” the actress shares.

And though they’ve got several more months to go, the couple can’t wait to meet their daughter.

“It’s been a wonderful journey for us to be able to do this together,” says Swisher. “It’s going to be great. In a couple of months, our lives are going to turn upside-down.”

– Melody Chiu

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Flu more widespread in US; eases off in some areas

NEW YORK (AP) — Flu is now widespread in all but three states as the nation grapples with an earlier-than-normal season. But there was one bit of good news Friday: The number of hard-hit areas declined.

The flu season in the U.S. got under way a month early, in December, driven by a strain that tends to make people sicker. That led to worries that it might be a bad season, following one of the mildest flu seasons in recent memory.

The latest numbers do show that the flu surpassed an "epidemic" threshold last week. That is based on deaths from pneumonia and influenza in 122 U.S. cities. However, it's not unusual — the epidemic level varies at different times of the year, and it was breached earlier this flu season, in October and November.

And there's a hint that the flu season may already have peaked in some spots, like in the South. Still, officials there and elsewhere are bracing for more sickness

In Ohio, administrators at Miami University are anxious that a bug that hit employees will spread to students when they return to the Oxford campus next week.

"Everybody's been sick. It's miserable," said Ritter Hoy, a spokeswoman for the 17,000-student school.

Despite the early start, health officials say it's not too late to get a flu shot. The vaccine is considered a good — though not perfect — protection against getting really sick from the flu.

Flu was widespread in 47 states last week, up from 41 the week before, the Centers for Disease Control and Prevention said on Friday. The only states without widespread flu were California, Mississippi and Hawaii.

The number of hard-hit states fell to 24 from 29, where larger numbers of people were treated for flu-like illness. Now off that list: Florida, Arkansas and South Carolina in the South, the first region hit this flu season.

Recent flu reports included holiday weeks when some doctor's offices were closed, so it will probably take a couple more weeks to get a better picture, CDC officials said Friday. Experts say so far say the season looks moderate.

"Only time will tell how moderate or severe this flu season will be," CDC Director Dr. Thomas Frieden said Friday in a teleconference with reporters.

The government doesn't keep a running tally of adult deaths from the flu, but estimates that it kills about 24,000 people in an average year. Nationally, 20 children have died from the flu this season.

Flu vaccinations are recommended for everyone 6 months or older. Since the swine flu epidemic in 2009, vaccination rates have increased in the U.S., but more than half of Americans haven't gotten this year's vaccine.

Nearly 130 million doses of flu vaccine were distributed this year, and at least 112 million have been used. Vaccine is still available, but supplies may have run low in some locations, officials said.

To find a shot, "you may have to call a couple places," said Dr. Patricia Quinlisk, who tracks the flu in Iowa.

In midtown Manhattan, Hyrmete Sciuto got a flu shot Friday at a drugstore. She skipped it in recent years, but news reports about the flu this week worried her.

During her commute from Edgewater, N.J., by ferry and bus, "I have people coughing in my face," she said. "I didn't want to risk it this year."

The vaccine is no guarantee, though, that you won't get sick. On Friday, CDC officials said a recent study of more than 1,100 people has concluded the current flu vaccine is 62 percent effective. That means the average vaccinated person is 62 percent less likely to get a case of flu that sends them to the doctor, compared to people who don't get the vaccine. That's in line with other years.

The vaccine is reformulated annually, and this year's is a good match to the viruses going around.

The flu's early arrival coincided with spikes in flu-like illnesses caused by other bugs, including a new norovirus that causes vomiting and diarrhea, or what is commonly known as "stomach flu." Those illnesses likely are part of the heavy traffic in hospital and clinic waiting rooms, CDC officials said.

Europeans also are suffering an early flu season, though a milder strain predominates there. China, Japan, the West Bank, the Gaza Strip, Algeria and the Republic of Congo have also reported increasing flu.

Flu usually peaks in midwinter. Symptoms can include fever, cough, runny nose, head and body aches and fatigue. Some people also suffer vomiting and diarrhea, and some develop pneumonia or other severe complications.

Most people with flu have a mild illness. But people with severe symptoms should see a doctor. They may be given antiviral drugs or other medications to ease symptoms.

Some shortages have been reported for children's liquid Tamiflu, a prescription medicine used to treat flu. But health officials say adult Tamiflu pills are available, and pharmacists can convert those to doses for children.

___

Associated Press writers Dan Sewell in Cincinnati, Catherine Lucey in Des Moines, and Malcolm Ritter in New York contributed to this report.

___

Online:

CDC flu: http://www.cdc.gov/flu/index.htm

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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.

The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.

Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.

An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.

"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"What we're looking for is demand. Demand from small business owners, from consumers."

EARNINGS AND ECONOMIC EXPECTATIONS

Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.

Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.

Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.

The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.

Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.

HOUSING, INDUSTRIAL DATA ON TAP

Next week will also feature the release of a wide range of economic data.

Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.

Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.

Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.

"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."

POLITICAL ANXIETY

Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.

The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.

Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.

The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.

"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.

The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.

"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."

(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)

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