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


Gaming News Headlines – Yahoo! News




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















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, 2013

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


Gadgets News Headlines – Yahoo! News





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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."


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


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