Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.

"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.

(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)

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India Ink: Newswallah: Bharat Edition

Himachal Pradesh: Heavy snowfall for three straight days in the hill state has shut down several arterial roads in the interior areas on Thursday, affecting vehicular traffic, according to an IANS report on the NDTV Web site. In Shimla, a popular holiday destination, at least 10 people, most of them tourists, were injured while walking on the slippery roads, the report said.

Sikkim: The ecologically rich state, located in the lower ranges of the Himalayas, will host the International Flower Show from Feb. 23 to 27, according to an IANS report cited in the Hindustan Times. The state is home to almost 5,000 varieties of flowers, and Sikkim’s state government is keen to promote floriculture and related activities as an important source of livelihood in the coming years, the report said.

Assam: A review committee decided to sign off on the government’s decision to block 306 Twitter accounts after last year’s ethnic clashes in the Kokrajhar district of Assam, the Press Trust of India reported. The committee observed that the accounts could inflame religious tensions in the country.

Gujarat: On Wednesday, a candidate for a local village election in Gujarat’s Sabarkantha district was arrested, along with his manager, for allegedly forcing 100 people to put their hands in boiling oil to prove their loyalty to him, The Hindu reported. The candidate, Dinesh Parmar, who lost the election, had allegedly told the people that their hands would not be burned if they had indeed voted for him.

Rajasthan: A village council in Rajasthan’s Bikaner district decided to impose a fine on those who consumed alcohol or hunted animals, the Press Trust of India reported. At a meeting of the village council, it was decided that the penalty amount would range between 1,000 rupees and 11,000 rupees (about $19 to $206).

Karnataka: About 26 members of Bangalore-based women’s rights groups were taken into custody Tuesday but were later released, The Hindu said. These activists held demonstrations in front of the Raj Bhavan, or the governor’s mansion, to protest the central government’s new laws to deter violence against women, which the activists said ignored important recommendations by a government-appointed committee.

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Skype ‘closely collaborating with BlackBerry’ to make sure ported Android app runs well on BB10

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Minka Kelly: 'I'm Not Worthy' of Acting with Oprah

By Jennifer Cress

02/08/2013 at 07:40 PM EST

Minka Kelly as Jacqueline Kennedy Onassis

Pacific Coast News

It's intimidating enough to play Jackie O, but Minka Kelly felt even more pressure to perform when she found out who was joining the cast of her latest film, The Butler.

"I'm not worthy. I feel so lucky and grateful. I was like, 'What am I doing here?!' " Kelly tells PEOPLE of starring alongside Robin Williams, Forest Whitaker, John Cusack, Vanessa Redgrave, Jane Fonda and more in the upcoming film, which tells the story of a butler who served eight presidents.

The movie also features another major star: the one and only Oprah Winfrey. "I didn't get to meet Oprah because our shooting schedules were different, but she's a pretty loved lady," Kelly says. "I have yet to hear a bad thing about her!"

Kelly found that the most difficult part of playing Jackie Kennedy was nailing the former first lady's distinct accent. "I think she spoke in a way she thought she should speak, so getting that down was hard. There's a musicality and rhythm to the way she speaks," Kelly explains. "I went to sleep listening to her."

Another tough task? Slipping into the retro costumes. "My body is so different from her because I have curves, so fitting into those vintage clothes was actually really hard," she shares. "Also it was hot – and there was a lot of wool!"

Jennifer Graylock / Getty

But Kelly had no issue slipping into the stunning Oscar de la Renta gown (left) she strutted down the runway in at the Red Dress Collection fashion show in N.Y.C. on Wednesday night. The actress walked for the second year in a row in honor of The Heart Truth campaign, which encourages women to monitor their heart health.

For the month of February, Diet Coke will donate $1 for every person who uploads a heart-inspired photo to Twitter or Instagram using the hashtag #showyourheart. Visit to dietcoke.com/showyourheart for more information.

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China's trade picks up, inflation eases

BEIJING (AP) — China's trade picked up and inflation eased in January as a shaky economic recovery gained traction.

Much of the change was due to the Lunar New Year holiday, which distorts China's economic data each year. But analysts said data reported Friday looked promising.

Export growth accelerated to 25 percent from the previous month's 14.1 percent as companies rushed to fill orders before shutting down for a holiday break of up to two weeks. Import growth accelerated to 28 percent, more than quadruple the previous month's 6 percent.

China's trade growth has rebounded in recent months in a sign of economic recovery but longer-term trade measures are likely to show lower growth than January's double-digit increase. Analysts say the recovery will be gradual and too weak to support a global rebound without improvement in the United States and Europe.

"Seeing the underlying trend is a little difficult. Nevertheless, the data were above expectations and seem generally positive," said Moody's Analytics economist Alaistair Chan in a report.

Last year's Lunar New Year shutdown began in January, leaving fewer work days and boosting this year's figures by comparison. This year's holiday falls entirely in February, which will make this month's trade look unusually weak.

Once holiday distortions are factored out, trade growth for the first three months of the year should be in high single digits, said Goldman Sachs economists in a report.

China's economic growth ticked up in the final quarter of last year from a three-year low. The World Bank and private sector forecasters expect economic growth of about 7.5 percent this year. That would be stronger than the West and Japan but China's weakest performance since the 1990s.

Inflation eased to 2 percent in January from the previous month's 2.5 percent despite a 37 percent jump in vegetable prices after the coldest winter in seven years damaged crops, the National Bureau of Statistics reported. Vegetable prices in some areas soared 74.6 percent.

The inflation decline was due in part to comparison with last January, when the Lunar New Year holiday began earlier and food prices spiked as families stocked up for banquets. This year, the food price spike will show up in February data.

Pressure for prices to rise has increased in recent months, possibly constraining Beijing's ability to support the recovery if needed with more spending or interest rate cuts. Inflation is politically dangerous in a society where the poorest families spend up to half their incomes on food.

Beijing is pinning its hopes for recovery on government-driven investment and domestic consumer spending. That is rising but not as fast as authorities want, forcing the government to fill the gap with spending on building subways and other public works.

Analysts warn China's recovery could be vulnerable if trade or government spending weaken. Societe Generale said last month there still is a chance of a "hard landing," with growth dropping below 6 percent, which would be dangerously low for China.

"A deceleration is likely by the end of the year if further stimulus measures are not forthcoming, which they probably won't because of latent inflation pressures," said Chan of Moody's. "Exports are expected to record moderate growth as the global economy recovers."

China's global trade surplus widened 6.5 percent from January 2012 to $29.2 billion. Exports were $187.4 billion while imports totaled $158.2 billion.

The politically volatile trade surplus with the United States, which has temporarily overtaken the struggling European Union as China's biggest export market, narrowed by 2.8 percent from a year earlier to a still-hefty $17.2 billion.

The trade surplus with the 27-nation EU contracted 10.9 percent to $12.3 billion. Exports to France fell 6.4 percent and shipments to Italy were off 2.8 percent.

___

General Administration of Customs of China (in Chinese): www.customs.gov.cn

National Bureau of Statistics (in Chinese): www.stats.gov.cn

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India Ink: Five Questions for: Author and Filmmaker Laleh Khadivi

Laleh Khadivi is an author and filmmaker who was born in Esfahan, Iran, and grew up in California. Her first novel, “The Age of Orphans,” received the Whiting Award for Fiction, the Barnes and Noble Discover New Writers Award and an Emory Fiction Fellowship, and it was translated into eight languages. Her latest novel, “The Walking,” will be published in March. Her debut documentary film, “900 Women,” premiered at the Human Rights Watch Film Festival in 2001. India Ink interviewed Ms. Khadivi at the Jaipur Literature Festival.

What are the occupational hazards of being a writer?

Depression? I’m kidding. I think that when you write, and that is the only thing you do and you don’t have another job you end up spending a lot of time alone in worlds of your creation and so that can make living in the world of reality a little bit difficult. I feel like, for myself and a few other writers I know intimately, going between those two worlds is often very difficult. You don’t have the ease with which to converse randomly at a dinner party when you’ve been writing a torture scene all day. You kind of have to step in and out of the things that you know are fiction and the things that you know to be real. Otherwise, writing is a pretty sweet job. You can’t really complain about it, you know.

What is your everyday writing ritual?

When I’m in the middle of writing a book, doing the day-to-day writing of it, I develop a ritual for that book, but it changes for each book. So I ideally would like to write every morning between 7 a.m. and noon if I can get those many hours –though I just had a son so this is not going to ever happen again. And then from noon until 7, do other things. And then I find the night very useful for writing so I write again from dark until when I go to sleep. At the end of the day, I’m a writer, and in the middle, a regular person.

Why should we read your latest book?

My latest book is about the effects of movies on the imagination. It’s about a lot of other things as well — political things and social things — but mostly it’s about a boy’s love of the cinema and what the cinema does to your desires. How if you only know one world – one particular village or one town – and you watch movies that happen halfway across the globe, how you are changed and how you suddenly think to yourself, “Oh wait, the Earth is bigger than what I know. How do I get to this other place?”

India has such a rich history of cinema, and Bollywood is all about spinning imaginary tales. They might not involve other places on the planet, but they involve other classes, other gender dynamics and other fashion.

It’s a book about that distance between where you are and what you see, and where you can be in cinema and how it changes what you want. It takes place partially in the Kurdish region of Iran and partially in Los Angeles.

How do you deal with your critics?

Ha! I’ve been trying to figure that out.

I think ideally the best way to deal with it is to just not read the reviews. Because with my first book I got these reviews, and some of them were great, and some of them were not. I realized that the ones that were great did not make me feel good — I didn’t celebrate it. And a bad review made me feel terrible. So there was nothing to win, nothing to gain from reading the reviews. Granted, your ego is very tempted to go and see what they are saying about your book, but you know if it’s good and where it’s not good and what the weak parts are.

If someone gives it a bad review and doesn’t like it, there is a good chance they just didn’t get it or it’s not their thing. If I was asked to review a book by John Updike, I would say terrible things, but someone else would give him the Pulitzer Prize. It’s a personal preference. Reviews are very bizarre – they are assigned to one reader and that reader might hate the Middle East. I see the intellectual background of where the reviewer is from – if they do not like Faulkner’s writing, chances are they are not going to like mine.

Why does the Jaipur Literature Festival matter to you?

One billion people – not all of them reading, but still a country of a billion people — you just can’t ignore that. There’s a billion universes going on in those people’s lives and communities, and I feel like because there is an English-speaking presence here and my books can be read without translation, I should go and help people get excited about them.

I have been blown away by the attentiveness and the eagerness of the audiences in Jaipur. I also think that beyond just engaging with readers, I think it’s important to engage with writers about writing and have public discourse about the life of the mind. Our world is increasingly not giving writers and thinkers and artists a place to do that, and so Jaipur is like this small little window to have discussions that are not about money, but about art or politics or inspiration. That’s important to me, and I think that’s important to the increasing readership of Indians.

(The interview has been lightly edited and condensed.)

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RIM shares up on upgrade

TORONTO (AP) — Shares of BlackBerry maker Research In Motion rose 3 percent Thursday with Wells Fargo saying that better gross margins from the company’s new phone will offset potentially limited demand.

THE SPARK: In a morning research note, analyst Maynard Um upgraded the shares to outperform. Um said the current valuation already discounts the potentially limited demand for RIM’s new BlackBerry phone that was unveiled last week.

THE BIG PICTURE: RIM shares have more than doubled from nine-year lows in September on optimism and mostly favorable reviews off the new BlackBerry. The software has a fresh interface designed for touchscreens. The once pioneering smartphone has been overshadowed by the iPhone and Android phones in recent years.

THE ANALYSIS: UM said the outperform rating is predicated on the view that gross margins will improve with the release of the new much-delayed phones. He upgraded the valuation target to between $ 19 and $ 20, versus the prior range of $ 11-$ 13 under the previous analyst’s call.

“While it may very well turn out that demand for BlackBerry 10 is limited, we believe the valuation already discounts some level of failure and think the risk/reward at this juncture of the BlackBerry 10 cycle is attractive,” Um said.

BGC Financial analyst Colin Gillis said the stock has risen lately on optimism around the launch and mostly positive reviews, but cautioned it’s not based on hard sales data.

“Some of the optimism may get tempered when they report,” Gillis said in an interview.

Gillis said it’s a big problem that a physical keyboard version might not arrive in the U.S. until May or June, a month or two behind other parts of the world. RIM chief executive Thorsten Heins told The Associated Press this week that the keyboard version will likely come out eight to 10 weeks after a carrier releases a model with only a touch screen, the BlackBerry Z10. The Z10 is expected in the U.S. in mid-March, so eight to 10 weeks brings the U.S. date for the BlackBerry Q10 to mid-May to early June.

“The big thing is the keyboard. That’s a long time,” said Gillis, who noted it will go up against a new phone from Google and maybe a new iPhone refresh. “People were expecting April.”

Such a delay would further complicate RIM’s efforts to hang on to customers tempted by Apple’s trend-setting iPhone and a range of devices running Google’s Android operating system. Even as the BlackBerry has fallen behind rivals in recent years, many BlackBerry users have stayed loyal so far specifically because they prefer a physical keyboard over the touch screen found on the iPhone and most Android devices. But the temptations to switch grow with each additional delay, despite favorable reviews for the new operating system.

SHARE ACTION: Research In Motion Ltd., based in Waterloo, Ontario, rose 57 cents, or 3.5 percent, to $ 16.62 in afternoon trading. Shares had risen to a 52-week high of $ 18.32 on Jan. 24 from a nine-year low of $ 6.22 on Sept. 24.

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American Idol: Early Favorites Eliminated in Hollywood

TV Watch

American Idol

By Steve Helling

02/07/2013 at 10:30 PM EST

From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban

Michael Becker/FOX.

At the beginning of Thursday's American Idol, there were 43 men left in the competition. The next hour was a bloodbath, with many tears and a few tantrums – as well as some standout performances. Curtis Finch Jr., for example, performed a version of Christina Perri's "Jar Of Hearts" that was arguably the strongest of the evening. It may be the season's most overdone song, yet Finch successfully infused it with a rising gospel vibe.

Like every reality show, the contestants learned valuable life lessons as they fought to stay in the game. Here are five:

1. Never Let Them See You Sweat
Paul Jolley looked like he was going to throw up when he took the stage. "I'm so nervous," he said as he fought back tears. The judges watched quietly as he pulled himself together and gave a strong performance of Carrie Underwood's "Blown Away." He advanced, but not before Nicki Minaj criticized him for showing his nerves. "You walked out so defeated and that really irritated me," she said. "Just give us one minute of professionalism."

2. Be Funny and Unexpected
Admit it: It was kind of funny watching Gurpreet Singh Sarin nail "Georgia On My Mind." The judges liked him, perhaps because he doesn't fit any mold. Neither does Charlie Askew, who worked his quirky awkwardness into an intriguing version of Gotye's "Somebody that I Used To Know," complete with a spoken-word intro. "I am obsessed with you," Minaj said, prompting Askew to respond, "Baby, I could say the same thing." She ate it up.

3. Too Much of A Good Thing Can Be Lethal
Matheus Fernandes, one of the standouts from the Los Angeles auditions, was eliminated after a shaky rendition of Kelly Clarkson's "Stronger." The 4'9" contestant made one too many self-depreciating comments about his height, prompting Minaj to say, "Sometimes things can go from being inspiring to becoming you wanting a pity party." When Carey called him a "good person," his face said it all – Fernandes knew he wouldn't be advancing to the next round. In contrast, Lazaro Arbos said nary a word about his stutter, yet he advanced easily, despite an unspectacular rendition of Lady Gaga's "Edge of Glory."

4. If You Lose, Lose Gracefully
The night's "Sour Grapes Award" goes to Papa Peachez, who performed a karaoke-worthy version of Gaga's "Yoü and I." Minaj was unimpressed. "I'm so disappointed," she said. "I don't know why you chose that song." After he was eliminated, Peachez decided he didn't want to win American Idol, after all. "This isn't the competition for me," he said. "I just don't like singing other people's songs."

5. Big Risks Can Reap Big Rewards
Nick Boddington was eliminated in Las Vegas last season, so he came back determined to take some risks. He accompanied himself on the piano while singing Grace Potter's "Stars." It was a strong performance that the judges loved.

After the dust settled, 28 contestants remained. The judges corralled them onto the stage and announced that they would eliminate eight more male contestants next week, after the ladies' auditions.

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Southern diet, fried foods, may raise stroke risk

Deep-fried foods may be causing trouble in the Deep South. People whose diets are heavy on them and sugary drinks like sweet tea and soda were more likely to suffer a stroke, a new study finds.

It's the first big look at diet and strokes, and researchers say it might help explain why blacks in the Southeast — the nation's "stroke belt" — suffer more of them.

Blacks were five times more likely than whites to have the Southern dietary pattern linked with the highest stroke risk. And blacks and whites who live in the South were more likely to eat this way than people in other parts of the country were. Diet might explain as much as two-thirds of the excess stroke risk seen in blacks versus whites, researchers concluded.

"We're talking about fried foods, french fries, hamburgers, processed meats, hot dogs," bacon, ham, liver, gizzards and sugary drinks, said the study's leader, Suzanne Judd of the University of Alabama in Birmingham.

People who ate about six meals a week featuring these sorts of foods had a 41 percent higher stroke risk than people who ate that way about once a month, researchers found.

In contrast, people whose diets were high in fruits, vegetables, whole grains and fish had a 29 percent lower stroke risk.

"It's a very big difference," Judd said. "The message for people in the middle is there's a graded risk" — the likelihood of suffering a stroke rises in proportion to each Southern meal in a week.

Results were reported Thursday at an American Stroke Association conference in Honolulu.

The federally funded study was launched in 2002 to explore regional variations in stroke risks and reasons for them. More than 20,000 people 45 or older — half of them black — from all 48 mainland states filled out food surveys and were sorted into one of five diet styles:

—Southern: Fried foods, processed meats (lunchmeat, jerky), red meat, eggs, sweet drinks and whole milk.

—Convenience: Mexican and Chinese food, pizza, pasta.

—Plant-based: Fruits, vegetables, juice, cereal, fish, poultry, yogurt, nuts and whole-grain bread.

—Sweets: Added fats, breads, chocolate, desserts, sweet breakfast foods.

—Alcohol: Beer, wine, liquor, green leafy vegetables, salad dressings, nuts and seeds, coffee.

"They're not mutually exclusive" — for example, hamburgers fall into both convenience and Southern diets, Judd said. Each person got a score for each diet, depending on how many meals leaned that way.

Over more than five years of follow-up, nearly 500 strokes occurred. Researchers saw clear patterns with the Southern and plant-based diets; the other three didn't seem to affect stroke risk.

There were 138 strokes among the 4,977 who ate the most Southern food, compared to 109 strokes among the 5,156 people eating the least of it.

There were 122 strokes among the 5,076 who ate the most plant-based meals, compared to 135 strokes among the 5,056 people who seldom ate that way.

The trends held up after researchers took into account other factors such as age, income, smoking, education, exercise and total calories consumed.

Fried foods tend to be eaten with lots of salt, which raises blood pressure — a known stroke risk factor, Judd said. And sweet drinks can contribute to diabetes, the disease that celebrity chef Paula Deen — the queen of Southern cuisine — revealed she had a year ago.

The National Institute of Neurological Disorders and Stroke, drugmaker Amgen Inc. and General Mills Inc. funded the study.

"This study does strongly suggest that food does have an influence and people should be trying to avoid these kinds of fatty foods and high sugar content," said an independent expert, Dr. Brian Silver, a Brown University neurologist and stroke center director at Rhode Island Hospital.

"I don't mean to sound like an ogre. I know when I'm in New Orleans I certainly enjoy the food there. But you don't have to make a regular habit of eating all this stuff."

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Asian shares, euro pause ahead of ECB decision

TOKYO (Reuters) - Asian shares and the euro paused from recent gains on Thursday, as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's view on euro zone growth prospects, optimistic that the worst may be over.

"Risk assets traded heavily as market participants exercise caution ahead of the ECB, particularly with Europe's political crisis hampering sentiment," said Stan Shamu, market strategist at IG Markets. "There has been growing talk of currency wars lately and some are now saying the eurozone will soon consider a fixed rate for the single currency."

European markets are seen in tight ranges, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open flat to up 0.1 percent. A 0.1 percent drop in U.S. stock futures suggested a soft Wall Street start. <.l><.eu><.n/>

Japan's Nikkei stock average <.n225> ended down 0.9 percent, retreating from its highest level since October 2008 that it scaled on Wednesday as investors took a break from selling the yen. <.t/>

But shorter-dated Japanese government debt rallied, sending 5-year government bond yields to a record low of 0.135 percent and 5-year yields to their lowest since September 2002 at 0.030 percent, on expectations that the central bank will cut interest rates to zero.

The yen's broad weakness has been driven by expectations for radical reflationary policy from the Bank of Japan, under Prime Minister Shinzo Abe's push for a mix of anti-deflation policies.

"Hopes for 'Abenomics' are supporting the mood, but investors are also sensitive to the currency moves, so right now, even slight uncertainty on Europe can be a reason to pull back," said Hiroichi Nishi, an assistant general manager at SMBC Nikko Securities.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was down 0.1 percent near a one-week low, after reaching a 18-month high on Monday.

Shanghai shares <.ssec> were set to break an eight-day rising streak, as investors booked profits on Chinese financials after the central bank stressed the need to tackle inflation and speculative housing demand.

Australian shares gained 0.3 percent, outperforming their Asian peers, on a rise in index heavyweights National Australia Bank and Telstra Corp which reported higher earnings. Australian headline job figures for January beat market expectations.

Recent data suggesting a moderate global economic recovery, even if it lacked strong momentum, underpinned industrial metals, keeping London copper prices near four-month highs and platinum and palladium near their highest level in 17 months on hopes of improved demand.

Data from deflation-swamped Japan was also positive, with the country's core machinery orders surging unexpectedly in December for a third straight month of increases, with firms expecting further improvement in the first quarter.

But analysts said Asian economies were still relying on exports to power their way to growth.

"One of the pillars of our bullish view on Asian currencies at the start of the year was the theme of global rebalancing, in which Asian economies would move away from export-dependent growth models towards a more domestic demand-driven model, allowing their currencies to appreciate to dampen their export competitiveness in favor of stronger terms of trade," said Morgan Stanley in a research note.

"However, Asian economies have been slower in the rebalancing process than we had envisioned, as seen by the heavy physical and verbal FX intervention this year."

FATE OF DRAGHI MAGIC

Growing optimism that the euro zone economy may be nearing a bottom has propelled the euro to a 14-1/2-month high against the dollar, a 34-month peak against the yen and 15-month top on sterling.

The ECB is expected to keep interest rates at a record low 0.75 percent at later on Thursday. Traders will focus on any comments about the euro's recent strength as well as the bank's view on the euro zone economy.

Vassili Serebriakov, strategist at BNP Paribas, said the ECB will likely reason that the euro's strength is due to real improvement in the financial markets and economic outlook, and thus does not warrant immediate action.

Draghi's strong verbal commitment to defend the euro and the ECB's new bond-buying scheme to help ease funding strains in highly-indebted euro zone members had significantly reduced risks of the region crumbling under the weight of its debt woes.

But a corruption scandal in Spain and uncertainty over the outcome of an Italian election later this month brought market focus back to the region's potential political instability.

"The scandal stirs memories of past scandals, and there's the possibly that it, too, could become a bigger matter, so this is making some investors cautious," said Kimihiko Tomita, head of forex at State Street in Tokyo.

The euro steadied around $1.3526, off a 14-1/2-month high against the dollar of $1.3711 hit last week.

The dollar eased 0.1 percent to 93.57 yen after touching 94.075 yen, its highest since May 2010 on Wednesday. The euro steadied at 126.60 yen, off Wednesday's 127.71 yen, its strongest since April 2010.

U.S. crude rose 0.1 percent to $96.76 a barrel and Brent also added 0.2 percent to $116.90.

(Additional reporting by Ayai Tomisawa and Lisa Twaronite in Tokyo; Editing by Sanjeev Miglani and Eric Meijer)

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IHT Rendezvous: 'Rigoletto' in Vegas, 'Manon Lescaut' in the Metro

BRUSSELS—The day after the Metropolitan Opera in New York unveiled a production of Verdi’s “Rigoletto” set in Las Vegas during the 1960s, I was in Belgium, where another exercise in operatic updating is underway at the Théâtre royal de la Monnaie. Here, Mariusz Trelinski’s staging of Puccini’s “Manon Lescaut” — through Feb. 8 — situates the opera in the waiting room of a subway station.

Opera goers are often incensed by productions like these, yet updating is potentially a relatively mild device. Once the new setting is established, the action can play out coherently and essentially traditionally. This happened with “La Bohème” last summer at the Salzburg Festival, staged by Damiano Michieletto.

One could object to the hovel of the bohemians’ Parisian loft, but there was something touching about seeing Anna Netrebko as Mimì crouched in the snow behind a hotdog truck near the city’s peripheral expressway, as she overheard Rodolfo and Marcello discussing her fragile health.

By contrast, La Scala’s recent “Lohengrin” directed by Claus Guth, which focused on the repressiveness of German society at the time of the opera’s composition and, in Mr. Guth’s fanciful interpretation, its bizarre effects on the psyche of the title character, counts as truly radical.

The Met’s take on “Rigoletto” had a widely acknowledged antecedent in Jonathan Miller’s production of the opera for the English National Opera, which was set in New York’s Little Italy and seen in that city on a 1984 tour. The Met’s new production by Michael Mayer is reportedly less successful. Writing in The New York Times, Anthony Tommasini detected “dynamic elements in this colorful, if muddled and ill-defined ‘Rigoletto’” but noted that “there are big holes” in Mr. Mayer’s concept. The criticism is directed not so much at the updating itself but the lack of disciplined follow-through.

The updating of “Manon Lescaut,” which is specified to take place in the 18th century, comes off as inherently misguided. Boris Kudlicka’s chic-looking set is essentially all in black, although city lights are sometimes visible, as if seen from a moving train. A system map is on one wall, pay telephones on another.

The mismatch is apparent from the first measures of Puccini’s sparkling orchestral introduction to Act 1. This is music designed for the outdoors—a public square in Amiens—not a space underground. It announces something special is in the works, not dreary routine. It conveys youthful high spirits, not gloom. Also, the mores of pre-revolutionary France are important in the opera.

Whether Mr. Trelinski’s conception of Manon herself is an outgrowth of his updating, or the other way around, it robs her of her allure. When, early on, the smitten Des Grieux declares his love for her, Manon sits at the end of a bar wearing a red coat and dark glasses and smoking a cigarette—the very image of a prostitute. Manon is a material girl all right, but one with such irresistible femininity she gets what she wants from men without having to market herself. You never sense this here. Further, a demimonde element weighs on the first two acts. Manon’s benefactor, Geronte (the bass Giovanni Furlanetto, in excellent voice), is depicted as a crime figure, and there is some curious activity involving topless girls and golf clubs.

Mr. Trelinski’s approach also intensifies an acknowledged structural weakness of the opera. All the opera’s gaiety is concentrated in the first two acts, whereas Act 3 and 4—in which Manon is deported from France and then dies in the New World—are uniformly gloomy. But here, Acts 1 and 2 are gloomy too.

Mr. Trelinski, who is artistic director of the Teatr Wielki in Warsaw, where the production originated, is a respected director with some notable achievements. I have admired his double bill of Bartok’s “Bluebeard’s Castle” and Tchaikovsky’s “Iolanta,” which will be seen at the Met in a future season. His work here has some redeeming aspects, especially in Act 4. Puccini’s setting for this act—a vast desert near the outskirts of New Orleans—is one of opera’s most implausible, so it is no great loss to see it supplanted. Fascinatingly, Mr. Trelinski ensures that Des Grieux suffers here as much as Manon does, as he becomes delusional and, apparently, starts to see double. A second Manon appears, whom Des Grieux cannot seem to distinguish from the first.

Carlo Rizzi presides over a colorful reading of the score and a cast headed by an excellent pair of lovers in Eva-Maria Westbroek and Brandon Jovanovich. When the two sang their big duet in Act 2, you could forget about the production and become wrapped up in Puccini’s drama. Ms. Westbroek’s commanding soprano is a bit large for Manon, whose music can profit from greater tonal delicacy. Still, she offers some splendid singing, apart from some difficulty on top, and gives an especially gripping account of Manon’s final aria, “Solo, perduta, abbandonata.”

In this production Des Grieux emerges as the more emotionally vibrant lover, and Mr. Janovich’s clear, virile singing makes the most of the opportunity. Unfortunately, he was in ill health and departed the performance after Act 2, but the intervention of Hector Sandoval, the alternate Des Grieux, allowed the performance, which was streamed to movie theaters, to continue without a hitch. He sang well and knew intricacies of the staging, flaws and all.

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American Idol: It's a Guys' Night in Hollywood

TV Watch

American Idol

By Jamie Bufalino

02/06/2013 at 11:00 PM EST

From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban

George Holz/FOX

Caution: Contains spoilers!

"It does feel a bit like The Hunger Games," said Keith Urban, ramping up the drama as American Idol kicked off the first day of Hollywood Week. Although producers didn't unleash any tracker jackers on the contestants, they did throw in a couple unexpected twists: This season the week started off as a guys-only competition (the girls arrive in Hollywood next week), and after surviving a round of sudden death solo sing-offs, contestants would then be put into groups from which they couldn't escape.

During the solo round, the standouts included two memorable contestants from the nationwide auditions. First up, Navy man Micah Johnson, who developed a speech impediment after suffering through a botched surgery to remove his tonsils. After a rousing rendition of Elton John's "Bennie and the Jets," Johnson was the first to get the green light to the next round.

Joining him soon after was Cuban-American Lazaro Arbos, a 21-year-old ice cream scooper from Naples, Fla., who speaks with a severe stutter but sings with ease. Although Arbos admitted to being both "scared" and "petrified," he quickly won the judges over – Nicki Minaj made her fingers into a heart-shape while he sang – with his take on the Robbie Williams hit, "Angels."

When it came time to form groups of four, the Idol producers threw a few more curveballs – such as pairing a couple of country crooners with two flamboyant (think glitter and faux fur) dudes Ryan Seacrest described as the show's "resident divas."

The result: a quartet that dubbed themselves Country Queen, which delivered a train wreck of a performance. Still, somehow three of the four made it through.

Meanwhile, Arbos's group experience also proved to be a bit of a disaster – which some of his cohorts blamed on his inability to quickly learn the lyrics and melody to the Beach Boys hit "Wouldn't It Be Nice." Although his main nemesis got the boot, a tearful Arbos got the chance to sing another day.

The day of auditions came to a close with what was possibly the most heartbreaking Idol exit ever. New York City subway singer Frankie Ford got a case of the jitters before going on stage, then proceeded to screw up the lyrics and sing off key – leaving the judges no choice but to pull the plug on his dreams. Before walking off into the night, a sobbing Ford stared into the camera and said, "I swear to God I'm coming back next year and I'm going to win."

There will be more solos Thursday (8 p.m. ET), as the judges have to whittle the 43 men left in the competition down to 20 lucky fellas.

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New whooping cough strain in US raises questions

NEW YORK (AP) — Researchers have discovered the first U.S. cases of whooping cough caused by a germ that may be resistant to the vaccine.

Health officials are looking into whether cases like the dozen found in Philadelphia might be one reason the nation just had its worst year for whooping cough in six decades. The new bug was previously reported in Japan, France and Finland.

"It's quite intriguing. It's the first time we've seen this here," said Dr. Tom Clark of the Centers for Disease Control and Prevention.

The U.S. cases are detailed in a brief report from the CDC and other researchers in Thursday's New England Journal of Medicine.

Whooping cough is a highly contagious disease that can strike people of any age but is most dangerous to children. It was once common, but cases in the U.S. dropped after a vaccine was introduced in the 1940s.

An increase in illnesses in recent years has been partially blamed on a version of the vaccine used since the 1990s, which doesn't last as long. Last year, the CDC received reports of 41,880 cases, according to a preliminary count. That included 18 deaths.

The new study suggests that the new whooping cough strain may be why more people have been getting sick. Experts don't think it's more deadly, but the shots may not work as well against it.

In a small, soon-to-be published study, French researchers found the vaccine seemed to lower the risk of severe disease from the new strain in infants. But it didn't prevent illness completely, said Nicole Guiso of the Pasteur Institute, one of the researchers.

The new germ was first identified in France, where more extensive testing is routinely done for whooping cough. The strain now accounts for 14 percent of cases there, Guiso said.

In the United States, doctors usually rely on a rapid test to help make a diagnosis. The extra lab work isn't done often enough to give health officials a good idea how common the new type is here, experts said.

"We definitely need some more information about this before we can draw any conclusions," the CDC's Clark said.

The U.S. cases were found in the past two years in patients at St. Christopher's Hospital for Children in Philadelphia. One of the study's researchers works for a subsidiary of Johnson & Johnson, which makes a version of the old whooping cough vaccine that is sold in other countries.

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JournaL: http://www.nejm.org

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Asian shares, industrial commods recover on economic optimism

TOKYO (Reuters) - Nascent global economic recovery buoyed risk assets from Asian shares to industrial commodities on Wednesday, while the prospect of a dovish new governor for the Bank of Japan sent the yen to a three-year low.

The signs of a recovery taking hold in Europe, the United States and China have helped improve the demand outlook for oil, copper and platinum while a solid reading for euro zone business activity supported the euro.

The slide in the yen bolstered Japanese equities to their highest since October 2008 while expectations of more monetary easing pushed two-year Japanese government bond yields down to a nine-year low of 0.045 percent.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent, tracking a more than 1 percent gain overnight in the Standard & Poor's 500 Index <.spx> and the Nasdaq Composite Index <.ixic> on data showing the U.S. services sector extended a three-year expansion in January.

In Asia, investors have been quick to book profits as prices approached their highs, but analysts and traders say any dip was likely to be seen as a chance to buy back into the market.

The pan-Asian index scaled a 18-month high on Monday, and was up about 2.3 percent so far this year, still modest compared to the S&P's nearly 6 percent gain in the same period.

Australian shares <.axjo> rose 0.8 percent, leading regional peers.

"Investors are positioning themselves for further upside moves while global economic data provides cause for optimism," said Tim Waterer, senior trader at CMC Markets.

Brent crude futures were up 0.1 percent to $116.64 a barrel, while U.S. crude was steady at $96.65, hovering near a 20-week high.

London copper rose 0.3 percent to $8,291.25 a tonne after nearing a four-month high of $8,322, while platinum hit a four-month high of $1,714.75 an ounce.

European markets are seen inching higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open flat to up 0.1 percent. A 0.1 percent gain in U.S. stock futures suggested a firm open on Wall Street. <.l><.eu><.n/>

YEN TAKES CENTRE STAGE

Expectations for stronger reflationary policies from the Band of Japan intensified after BOJ Governor Masaaki Shirakawa said he would step down on March 19, three weeks earlier than the official end of his five-year term, leaving at the same time as his two deputies. His decision raised the prospect that the next BOJ governor will more readily adopt the expansionist monetary policy demanded by Prime Minister Shinzo Abe.

The dollar touched 94.075 yen to its highest since May 2010, while the euro also rose to 127.71 yen, its strongest since April 2010. The Aussie reached a 4-1/2 year peak around 97.42 yen. The pound touched a 3-year high near 147.25 yen.

Japan's benchmark Nikkei stock average <.n225> soared 3.8 percent to close at a 52-month high. <.t/>

"The momentum in Japan is continuing to favour yen weakening and a risk-on mood," said Stefan Worrall, director of cash equity sales at Credit Suisse in Tokyo.

Despite recent rallies, the Nikkei remains below levels before the 2008 financial crisis while the S&P 500 and Germany's benchmark stock index have both already exceeded that level.

EURO ALSO RESILIENT

The euro was steady around $1.3570, above a key technical support of its 14-day moving average at $1.34653.

The euro drew support from growing confidence in the region's economy and improving funding conditions for deeply-indebted euro zone members.

News the European Central Bank's balance sheet fell to an 11-month low of 2.8 trillion euros ($3.8 trillion) as markets unwound some of the ECB's crisis funding measures underpinned the euro, appearing in stark contrast to the U.S. Federal Reserve and the BOJ which keep expanding asset buying.

"Flows matter more than stock in currency markets when comparing central bank balance sheets ... highlighting the euro's outperformance over the last few months," said Ashraf Laidi, chief global strategist at City Index, in a note to clients.

The ECB is expected to keep interest rates unchanged at its policy meeting on Thursday, but its president may face a grilling over an Italian banking scandal.

Spanish and Italian yields fell on Tuesday after jumping on worries over a corruption scandal in Spain and polls showing Italy's former prime minister Silvio Berlusconi regaining ground before elections this month.

The yen's fall lifted benchmark Tokyo gold futures to a record high of 5,067 yen per gram on Wednesday.

(Additional reporting by Thuy Ong in Sydney and Ayai Tomisawa and Sophie Knight in Tokyo; Editing by Sanjeev Miglani and Eric Meijer)

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IHT Rendezvous: IHT Quick Read: Feb. 6

NEWS Individual strikes by Predator and Reaper drones are almost never discussed publicly by U.S. officials. But the clandestine war will receive a rare moment of public scrutiny on Thursday, when its chief architect, John O. Brennan, the White House counterterrorism adviser, faces a Senate confirmation hearing as President Obama’s nominee for C.I.A. director. Robert F. Worth reports from Sana, Yemen, and Mark Mazzetti and Scott Shane from Washington.

Bulgaria’s interior minister announced that two of the people behind a July 18 bombing, which killed five Israeli tourists, a Bulgarian bus driver and the bomber, were believed to be members of the military wing of Hezbollah. The finding could have wide-reaching repercussions for Europe’s détente with the Lebanese militant group. Nicholas Kulish and Matthew Brunwasser report from Sofia, and Eric Schmitt from Washington.

President Mahmoud Ahmadinejad made the first visit by an Iranian leader to Egypt since the two countries broke off diplomatic relations three decades ago. Kareem Fahim and Mayy El Sheikh report from Cairo.

The House of Commons voted overwhelmingly to approve a bill legalizing same-sex marriage in Britain, indicating that the bill is assured of passage as it moves through further legislative stages. John F. Burns and Alan Cowell report from London.

Zhu Ruifeng, who became a celebrity of sorts after posting online a sex video involving a Chinese government official, says he will release more videos involving others. Andrew Jacobs reports from Beijing.

Dell announced that had agreed to go private in a $24 billion deal led by its founder and the investment firm Silver Lake, in the biggest leveraged buyout since the financial crisis. Michael J. de la Merced and Quentin Hardy report.

Liberty Global, the international cable company owned by the American billionaire John C. Malone, agreed to buy the British cable company Virgin Media for about $16 billion. Mark Scott reports from London and Eric Pfanner from Paris.

Asia Pulp and Paper, one of the largest pulp and paper producers in the world, said that it had stopped clearing natural forests across its supply chains in Indonesia, accelerating an earlier commitment to do so by 2015. Sara Schonhardt reports from Jakarta.

ARTS Have you ever awakened from a dream wanting to replay events? That’s just the start of the appeal of the West End revival of “Old Times,” the Harold Pinter play being presented with its two exemplary actresses, Kristin Scott Thomas and Lia Williams, swapping roles. Matt Wolf reviews from London.

The Netherlands Opera perseveres in presenting imaginative repertory absorbingly staged. Last week it turned to a masterpiece of the 19th century with an uplifting new production of Rossini’s final opera, “Guillaume Tell.” George Loomis reviews from Amsterdam.

SPORTS The Olympic champion Lindsey Vonn, whose record-breaking ski racing career has frequently mixed stirring triumph with frightening spills, tore two knee ligaments in a tumbling crash Tuesday and will need reconstructive surgery. Kelley McMillan reports from Schladming, Austria, and Bill Pennington from New York.

When England and Brazil face off Wednesday in London, the two soccer teams will feature players who will have the chance to show they now have the responsibility to match their sizable talents. Rob Hughes reports from London.

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Kim Kardashian's Pregnancy Is No Reason to Speed Divorce, says Kris Humphries

By Mike Fleeman

02/05/2013 at 09:20 PM EST

Kris Humphries and Kim Kardashian

Seth Browarnik/StarTraks

Kim Kardashian's baby is not even born yet and already is being drawn into mama's divorce.

Kardashian, carrying boyfriend Kanye West's child, has bristled at what she sees as stall tactics by estranged husband Kris Humphries to close the legal books on their 72-day marriage.

But Humphries's lawyer Marshall W. Waller writes that "what is really going on here is that an 'urgency' in the form of an apparently unplanned pregnancy" is being used by Kardashian as "an opportunity to gain a litigation advantage (to) prematurely set this matter for trial."

He adds parenthetically that the pregnancy is "something (Humphries) had nothing to do with."

Waller explains his reasoning for calling the pregnancy as unplanned: "Indeed, why would (she) plan to get pregnant in the midst of divorce proceedings?"

Kardashian, herself, recently addressed the timing.

"God brings you things at a time when you least expect it," she said last month. "I'm such a planner and this was just meant to be. What am I going to? Wait years to get a divorce? I'd love one. It's a process."

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Critics seek to delay NYC sugary drinks size limit

NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.

With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.

"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.

City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.

"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.

Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.

Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.

"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.

Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.

While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.

Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.

Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.

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Follow Jennifer Peltz at http://twitter.com/jennpeltz

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Asian shares drop on euro zone worry, soft U.S. data

TOKYO (Reuters) - Asian shares, oil and the euro fell on Tuesday as investors took profits from recent rallies, while the yen got a respite from broad-based selling.

European markets are seen barely changed, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up nearly flat. But a 0.1 percent gain in U.S. stock futures suggested a firm open on Wall Street. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> tumbled 0.9 percent, dragged lower by a steep 1.7 percent fall in Hong Kong shares <.hsi>. The pan-Asian index climbed to a 18-month high on Monday.

Japan's benchmark Nikkei stock average <.n225> closed down 1.9 percent, after scaling a 33-month high on Monday. <.t/>

Positive data from China failed to brighten the bearish mood, after the Standard & Poor's 500 Index <.spx> had its worst day since November on Monday on discouraging U.S. factory orders and worries that a potential political shake-up could disrupt the euro zone's efforts to resolve its debt crisis.

Analysts and traders said selling was a correction to markets rallying on receding tail risks such as growing euro zone stability and an improving global economic outlook, while global monetary easing still underpinned sentiment.

"This move in equities ... looks to be a healthy correction, nothing more," said Richard Yetsenga, Head of Global Markets at ANZ Research, adding that downside risk would likely convince major central banks globally to stick to easy policy.

In China, the HSBC services purchasing managers' index rose to a four-month high of 54 in January from December's 51.7, underlining confidence in the world's second-biggest economy, which is expected to grow 8.1 percent this year, off a 13-year low of 7.8 percent hit in 2012.

"The data globally is unquestionably better but the recovery still seems gradual. (China) hit the bottom and they had a bit of a bounce but nothing much else happened. We don't really seem to have preconditions for a much stronger bounce than that (8 percent growth)," Yetsenga said.

The Australian dollar fell 0.3 percent to $1.0405 after the Reserve Bank of Australia kept its cash rate steady at 3.0 percent, as expected, having just cut in December. Australian shares <.axjo> fell 0.5 percent but trimmed some earlier losses after the RBA's rate decision.

The euro took the brunt of renewed focus on the euro zone problems, having risen 2.3 percent so far this year against the U.S. dollar, up about 5.4 percent against sterling and 1.8 percent higher against the Australian dollar.

The euro eased 0.2 percent to $1.3485, retreating further from Friday's 14-1/2-month peak of $1.3711, ahead of the European Central Bank's policy meeting on Thursday.

"Markets have been increasingly comfortable with European risks over the past few months and are largely not positioned for this increase in political problems. The outcomes in Spain and Italy are far from certain and may represent stumbling blocks for further expansion in risk appetite," Barclays Capital said in a research note.

Spain's opposition party on Sunday called for Prime Minister Mariano Rajoy to resign over corruption allegations, which Rajoy denies, pushing Spanish 10-year bond yields to six-week highs.

In Italy, 10-year Italian government bond yields hit their highest since late December, as chances of former prime minister Silvio Berlusconi regaining power raised worries about Rome's ability to fix its fiscal problems.

The yen took a breather, firming from lows against a broad range of currencies.

The dollar steadied at 92.36 yen after scaling its highest since May 2010 of 93.185 on Monday, while the euro eased 0.1 percent to 124.53 yen, off its loftiest since April 2010 of 126.97 hit on Friday.

"Markets are broadly undergoing a correction and the euro is definitely facing profit-taking, given the pace of its climb. Worries about the euro zone debt crisis always remain a downside risk for the euro, and could push it lower to $1.32-$1.33," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo. "But the trend is still upward for dollar/yen, cross/yen. The dollar could reach 95 yen by the end of the month."

As long as markets hold out expectations for the Bank of Japan to implement aggressive monetary easing to beat decades of deflation in Japan, the yen will stay pressured. Any correction to the dollar's rise against the yen was also be seen as shallow, with many traders and analysts seeing a firm floor around 87-88 yen.

Italy & Spain bond yields: http://link.reuters.com/gat45t

Asset returns in 2013: http://link.reuters.com/dub25t

China, EU, US Services PMI: http://link.reuters.com/dyh85s

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Asian credit markets faltered with the plunge in equities, widening the spread on the iTraxx Asia ex-Japan investment-grade index by three basis points.

Brent crude slipped towards $115 per barrel, giving up some of its gains from the last three weeks, on renewed euro zone worries and a slightly firmer dollar.

(Editing by Eric Meijer)

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India Ink: Where a Poet's Vision Lives on in India

Sami Siva for The New York Times

Students have class outdoors at the school Tagore started, now known as Visva-Bharati University.

Great writers often shape our impressions of a place. Steinbeck and Dust Bowl Oklahoma, for instance. Sometimes a writer might even define a place, as Hemingway did for 1920s Paris. Rarely, though, does a writer create a place. Yet that is what the Indian poet and Nobel Prize winner Rabindranath Tagore did with a town called Shantiniketan, or “Abode of Peace.” Without Tagore’s tireless efforts, the place, home to a renowned experimental school, would not exist.

For Indians, a trip to Shantiniketan, a three-hour train ride from Kolkata, is a cultural pilgrimage. It was for me, too, when I visited last July, in the height of the monsoon season. I had long been a Tagore fan, but this was also an opportunity to explore a side of India I had overlooked: its small towns. It was in places like Shantiniketan, with a population of some 10,000, that Tagore — along with his contemporary Mohandas K. Gandhi — believed India’s greatness could be found.

As I boarded the train at Kolkata’s riotous Howrah Station, there was no mistaking my destination, nor its famous resident. At the front of the antiquated car hung two photos of an elderly Tagore. With his long beard, dark eyes and black robe, the poet and polymath, who died in 1941, looked like a benevolent, aloof sage, an Indian Albus Dumbledore. At the rear of the car were two of his paintings, one a self-portrait, the other a veiled woman. Darkness infused them, as it does much of Tagore’s artwork, unlike his poems, which are filled with rapturous descriptions of nature. As the train ambled through the countryside, Tagore’s words echoed in my head. “Give us back that forest, take this city away,” he pleaded in one poem.

The son of a Brahmin landlord, Tagore was born in Calcutta, as Kolkata was called back then, in 1861. He began writing poetry at age 8. In 1913, he became the first non-Westerner to receive the Nobel Prize for Literature. The committee cited a collection of spiritual poems called “Gitanjali,” or song offerings. The verses soar. “The traveler has to knock at every alien door to come to his own, and one has to wander through all the outer worlds to reach the innermost shrine at the end,” reads one.

Tagore became an instant international celebrity, discussed in the salons of London and New York. Today, Tagore is not read much in the West, but in India, and particularly in West Bengal, his home state, he remains as popular — and revered — as ever. For Bengalis, Tagore is Mark Twain, Walt Whitman, Andy Warhol and Steven Sondheim — with a dash of Martin Luther King Jr. — rolled into one. Poet, artist, novelist, composer, essayist, educator, Tagore was India’s Renaissance man. He was also a humanist, driven by a desire to change the world, which is what he intended to do in Shantiniketan. Upset with what he saw as an India that mooched off other cultures — “the eternal ragpickers of other people’s dustbins,” he said — he imagined a school modeled after the ancient Indian tapovans, or forest colonies, where young men meditated and engaged in other spiritual practices. His school would eschew rote learning and foster “an atmosphere of living aspiration.”

Equipped with this vision — and unhappy with Calcutta’s transformation from a place where “the days went by in leisurely fashion,” to the churning, chaotic city that it is today — Tagore decamped in 1901 to a barren plain about 100 miles north of Calcutta. Tagore’s father owned land there, and on one visit experienced a moment of unexpected bliss. He built a hut to mark the spot, but other than that and a few trees, the young Tagore found only “a vast open country.”

Undaunted, he opened his school later that year, readily admitting that it was “the product of daring inexperience.” There was a small library, lush gardens and a marble-floored prayer hall. It began as a primary school; only a few students attended at first, and one of those was his son. Living conditions were spartan. Students went barefoot and meals, which consisted of dal (lentils) and rice, were “comparable to jail diet,” recalled Tagore, who believed that luxuries interfered with learning. “Those who own much have much to fear,” he would say.

Eric Weiner, author of “Man Seeks God: My Flirtations With the Divine,” is working on a book about the connection between place and genius.

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New BlackBerry to be released in US in mid-March

TORONTO (AP) — The chief executive of Research In Motion said he’s disappointed the new BlackBerry won’t be released in the United States until mid-March, but he said early data suggests sales in the U.K. are above expectations.

Thorsten Heins said in an interview Monday with The Associated Press that he was disappointed in the mid-March U.S. release date. But he said the U.S. and its phone carriers have a rigid testing system.

“We need to respect that. Am I a bit disappointed? Yeah, I would be lying saying no. But it is what it is and we’re working with all our carrier partners to speed it up as much as we can,” Heins said in an interview at the Ritz Carlton in Toronto.

RIM unveiled new BlackBerrys last week after excruciating delays allowed Apple, Samsung and others to build commanding leads in the industry. The stock fell 12 percent after Wednesday’s kickoff, despite positive reviews about the new BlackBerry 10 operating system. There’s concern the phone isn’t coming out sooner after RIM announced a March U.S. release date last week.

Heins told the AP that it will be mid-March.

The first device in the new crop of the much-delayed revamped BlackBerrys will be the touchscreen Z10. Black and white versions were released in the U.K. last Thursday and will be released in Canada on Tuesday.

Heins said a substantial number of U.K. users are moving from other platforms to BlackBerry and said that’s an encouraging sign because they first targeted longtime BlackBerry users.

“It’s beyond expectations,” Heins said. “White is sold out already. The black is hard to stock up again. It’s very encouraging. I won’t share the number because I need to verify it, but we are getting a substantial number of users moving from other platforms to BlackBerry. That is an interesting data point.”

Shares of RIM closed up 15 percent Monday on initial reports of strong U.K. sales and after an analyst upgraded the stock.

Heins said they have to retake market share in the U.S. for BlackBerry to be successful. The U.S. has been one market in which RIM has been particularly hurting, even as the company is doing well in many places overseas. According to research firm IDC, shipments of BlackBerry phones plummeted from 46 percent of the U.S. market in 2008 to 2 percent in 2012. The iPhone and Android now dominate.

Heins, who one year ago replaced longtime executives who had presided over BlackBerry’s fall, said he’s confident BlackBerry can become the third ecosystem behind Apple and phones running Google’s Android operating system.

“We need to win back market share to be relevant,” Heins said. “We have to be aggressive in the U.S. market.”

The new BlackBerrys are a make-or-break product lineup after the pioneering brand lost its cachet not long after Apple’s 2007 release of the iPhone, which reset expectations for what a smartphone should do.

RIM promised a new system to catch up, using technology it got through its 2010 purchase of QNX Software Systems. But it has taken more than two years to unveil new phones that are redesigned for the new multimedia, Internet browsing and apps experience that customers are now demanding. RIM initially said the new BlackBerry with the revamped software would come by early 2012, but then the company changed that to late 2012. A few months later, that date was pushed back further, to early 2013, missing the lucrative holiday season. The holdup helped wipe out more than $ 70 billion in shareholder wealth and 5,000 jobs.

As RIM previously disclosed, the first phone will have only a touch-screen keyboard, like Apple Inc.‘s trend-setting iPhone and most phones running Android, including Samsung Electronic Co.’s popular Galaxy line.

The Q10 will follow and will have a physical keyboard, a feature that has kept BlackBerry users loyal over the years because it makes typing easier. RIM said last week the Q10 will start going on sale on some global carriers in April, but didn’t say when U.S. carriers will have it.

Heins told the AP it depends on the carriers, but said keyboard versions will likely be released eight to 10 weeks after a carrier releases the touch version.

That could mean the Q10 keyboard version might not be released in the U.S. until much later than mid-March or April.

Some analysts have questioned RIM for releasing a touch version first considering its most loyal users love the physical keyboard for typing.

Heins said the full touch screen was more complicated and they needed to focus on releasing that first. He has also acknowledged that RIM failed to quickly adapt to the emerging “bring your own device” trend, in which employees bring their personal touch-screen iPhones or Android devices to work instead of relying on BlackBerrys issued by their employers

Heins said they want to participate in that trend by releasing a touch version first.

Heins also addressed possible interest other companies might have in RIM should BlackBerry 10 prove successful and whether the Canadian government might block a foreign takeover.

“The recognition for BlackBerry 10 and what we built is pretty high. We got good reviews,” he said. “That moves you into the middle of the radar screen so I expect some activity around it but we’ll look at it one by one. We’ll assess it and we’ll make decisions with the board on what make sense.”

Heins recently chatted with top Canadian government ministers, including the industry minister, at the World Economic Forum in Davos.

“These guys are reasonable, rational people. At the end of the day it’s about employment, it’s about economic health, it’s about Canada playing a major role,” Heins said. “If the right logic and rational applies I don’t think they will just block it for their own sake. They could have done it with Nortel and the patents.”

Several months ago RIM’s decline evoked memories of Nortel, a former Canadian tech giant, which declared bankruptcy in 2009 and was picked over for its patents.

Gadgets News Headlines – Yahoo! News

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Jillian Michaels: My Son Phoenix Is 'Fiery' Like Me

Mom & Babies
Celebrity Baby Blog

02/04/2013 at 03:00 PM ET

Gregg DeGuire/WireImage

Jillian Michaels‘ son Phoenix is already taking after his mama — just not the expected one!

Although The Biggest Loser trainer expected her baby boy to inherit her partner’s laidback approach to life — Heidi Rhoades delivered their son in May — the 8-month-old’s budding personality is the polar opposite.

“He wants to walk and he gets really pissed about it when he can’t. He gets frustrated,” Michaels, 38, told PEOPLE at the recent TCAs.

“He’s a fiery little sucker, he’s just like me. I’m like, ‘You were supposed to be like Heidi!’ But he’s not. It’s not good, not good.”

Admitting she is “terrified for when he’s a teenager,” Michaels has good reason to be: Recently she spotted her son — who is “crawling aggressively” — putting his electrician skills to the test in the family room.

“He’s into everything, which is kind of a nightmare to be totally honest,” she says. “We have an outlet in the floor in the living room and I caught him eating the outlet on the floor … I was like, ‘Mother of God!’”

Phoenix’s big sister Lukensia, 3, has also been busy keeping her mamas on their toes. “Lu just had her first ski trip and she had a little crush on her teacher, Ollie,” Michaels shares.

“At first I was like, ‘Oh my God, we’re letting our baby go!’ The second day we took her she ran right to him — loves Ollie.”

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Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

___

Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Asian shares advance after U.S. jobs, ISM

TOKYO (Reuters) - Asian shares climbed to 18-month highs on Monday after U.S. data showed some promise of a credible recovery but not strong enough to threaten the Federal Reserve's easing plans, while momentum also gained on firmer manufacturing data from Europe and China.

The yen took a break from heavy selling against the U.S. dollar and the euro, but fell to its lowest since August 2008 against the Australian and New Zealand dollars early on Monday on confidence of bold monetary support from the Bank of Japan to overcome the country's stubborn deflation.

More confidence in global economic recovery underpinned oil and copper prices while weighing on safe-haven assets, pushing 10-year U.S. Treasury yields to a nine-month high and 10-year Japanese government bond yields to a three-week high.

European markets are likely to inch higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up by around 0.1 percent. U.S. stock futures were little changed, pointing to a steady open on Wall Street. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.6 percent.

"Prices of risk assets are generally expected to face upward pressures," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory. "While risk appetite is returning, prices may become top-heavy for some commodities markets where the relative strength index suggests an overbought territory under the current economic environment."

Brent crude eased 0.2 percent to $116.48 a barrel but held above $116, near a more than four-month high, as data from top consumers United States and China reinforced a view that the global economy was headed for a modest uptick this year.

"We are now seeing a consistent story of moderate growth in the U.S. and China, which is supportive of oil prices in general," said Ric Spooner, chief market analyst at CMC Markets in Sydney. "This will probably be a week of consolidation."

U.S. data out on Friday showed payrolls rose modestly last month, with upward revisions for November and December, while the Institute for Supply Management said its index of national factory activity rose to its highest since April.

China followed with positive news over the weekend, saying growth in its official purchasing managers' index (PMI) for the non-manufacturing sector ticked up in January for the fourth straight monthly rise, confirming the world's second-largest economy was showing a modest recovery.

Australian shares <.axjo>, however, lost their grip on early gains to end 0.3 percent lower, pulled down by weaker-than-expected housing data, slow job advertising and technical resistance. They jumped 0.9 percent to a 21-month high on Friday.

NIKKEI MAY BE PEAKING

Japan's benchmark Nikkei stock average <.n225> rose 0.6 percent after climbing to a fresh 33-month high earlier as the yen declined. The index climbed for a fifth straight day. <.t/>

Nikkei has been moving in tandem with the yen's two-month-long losing streak with investors eyeing the change in the BOJ's top personnel in April for clues to the likely extent of the bank's reflationary measures.

"The Nikkei may be nearing its peak for now as we may get a specific name of the most likely candidate for the next BOJ governor soon. That may provide an opportunity to close long dollar/yen positions, while a firming yen will then likely spur investors to book profits on Japanese stocks," said Tetsuro Ii, the chief executive of Commons Asset Management.

The dollar eased 0.2 percent to 92.64 yen after scaling its highest since May 2010 of 92.97 on Friday, while the euro fell 0.3 percent to 126.26 yen, still near its loftiest since April 2010 of 126.97 touched on Friday.

In early Monday trade, the yen plunged to its lowest since August 2008 against both the Australian dollar, at 96.78 yen, and against the New Zealand dollar at 78.74 yen.

The euro inched down 0.1 percent to $1.3628, off Friday's 14-1/2-month peak of $1.3711 hit after data showed euro zone factories had their best month in January in nearly a year.

On Friday, the dollar index measured against a basket of key currencies fell to a 4-1/2-month low of 78.918 <.dxy>. The index was up 0.2 percent on Monday.

As economic optimism rose and concerns about the euro zone's debt difficulties eased, investors took on more risk.

Research provider TrimTabs Investment Research said on Saturday investors poured a record $77.4 billion in new cash into stock mutual funds and exchange-traded funds in January, surpassing the previous monthly record of $53.7 billion in February 2000.

With the rise in equities on recovering appetite for riskier assets, safe-haven appeal waned, pushing up yields of U.S. Treasury bonds. The U.S. 10-year Treasury yield hit a nine-month high of 2.052 percent in Asia on Monday.

A weekly gauge of sentiment in the Japanese government bond market deteriorated sharply, remaining in negative territory for a fifth straight week as rising global appetite for risk sapped demand for bonds, the latest Reuters poll showed on Monday.

(Additional reporting by Ramya Venugopal in Singapore; Editing by Eric Meijer)

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