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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