Wall Street ends flat as investors pull back

NEW YORK (Reuters) - Stocks ended mostly flat on Wednesday, taking another pause in the recent rally that has driven the S&P 500 to five-year highs, as transportation and technology shares lost ground.


Transportation stocks were among the worst performers. Shares of CH Robinson Worldwide fell 9.7 percent to $60.50 and the stock was the biggest percentage loser on the Nasdaq 100 after the freight transport company posted a lower-than-expected adjusted quarterly profit.


Without a strong catalyst, the market could struggle to continue its rally, analysts said. The benchmark S&P 500 index has advanced 6 percent this year, reaching its highest since December 2007, while the Dow Jones industrial average <.dji> has risen above 14,000 recently.


Bank of America-Merrill Lynch analysts see a near-term pullback likely, based on strong equity inflows at the start of the year, said Dan Suzuki, the bank's equity strategist in New York.


"The fact that we've gone since November without seeing one, from a timing perspective, it wouldn't be a surprise to see one now."


With fourth-quarter earnings nearing an end, the market will be losing one of its big supports, said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "That's one thing that's been holding the market up," he said.


Shares of Time Warner Inc jumped 4.1 percent to $52.01 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.


The Dow Jones industrial average <.dji> was up 7.22 points, or 0.05 percent, at 13,986.52. The Standard & Poor's 500 Index <.spx> was up 0.83 points, or 0.05 percent, at 1,512.12. The Nasdaq Composite Index <.ixic> was down 3.10 points, or 0.10 percent, at 3,168.48.


Amazon.com shares, down 1.7 percent at $262.22, led the decline on the Nasdaq.


Also causing some strain on the market, investors have been speculating about leadership changes in Spain and Italy and watching for comments from European leaders, analysts said. European Central Bank policymakers are due to meet Thursday.


The Dow Jones Transportation average <.djt> was down 0.2 percent after hitting another record high on Tuesday. The average is up 10.7 percent for the year so far and has made a series of new highs since mid-January.


According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


Walt Disney Co's stock was up 0.4 percent at $54.52, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


Volume was roughly 6.5 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 roughly 17 to 12 and on the Nasdaq by about 13 to 11.


(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)



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At War Blog: Interview With Gen. John R. Allen on Leaving Afghanistan

The New York Times interviewed Gen. John. R. Allen on Sunday, a week before his scheduled departure from Afghanistan after 19 months as the commander of the American and allied forces.

Following are some of General Allen’s comments. Brief explanations have been provided in brackets.

On his relationship with President Hamid Karzai:

“I wanted him to understand that he was always going to have my loyalty and I was always going to work with him. In fact, I said a number of times, ‘I’m proud to have served you at the same time I served my own leadership, whether it’s a NATO leadership or U.S. leadership.’ Now, I wanted him to believe it because it happened to be true. I think our personalities matched in that regard.”

“Now, we’ve had some tough times. This has been a time of really dramatic change for the campaign. When I got here, I measured success in how well we and how often we were fighting. Today, it’s a very different environment. The Afghans are virtually entirely in the lead across Afghanistan.”

“This is what I’ve learned about the president. If you listen to him, he’s got some pretty good ideas, and often the controversy that has arisen in the relationships hasn’t been because necessarily you disagree with the ideas. It’s because you haven’t listened to them early enough.”

“And sometimes it’s been strained. I don’t think he ever believes that actions that I have taken were ever intended to disadvantage him as the president, or not do everything I possibly could for the Afghan people. I told him, I’m prepared to die in this country on behalf of his people. I take that very seriously.”

On civilian casualties:

“I’ve met with the families of the casualties that we’ve inflicted. I’ve flown to the villages to personally apologize for the casualties, and do what I can to do the right thing for those families. I’ve taken measures with respect to the employment of certain kinds of fires.” ["Fires” is common military shorthand for a variety of munitions, from bullets to missiles to mortar shells.]

“We had a couple of pretty rough incidents where Afghans were killed by the delivery of aviation fires. I eventually said to President Karzai that civilian structures, tents, potential areas where civilians might be either taking refuge or hiding or living, I’m not going to deliver any more fires on those structures unless my troops are pinned down, can’t move, and the only option they have is to deliver fires on these structures, or I decide, the senior leader out here, I decide to deliver fires on these structures.”

“The civilian causalities as a result of air fires plummeted immediately. It was probably the decision I could have made long before that and none of our forces were put at risk, or a greater risk because of this.”

On the aftermath of the burning of Korans at Bagram Air Base:

“I have to tell you, I thought this could be it for the relationship.

“I immediately got on the phone to a number of Afghan media outlets, immediately cut a video apologizing for this as sincerely as I could possibly appear and sound because this was going to be bad, it could be really bad. I called the president, I went to see him, apologized to him for this. It was completely inadvertent but this culture deserved that apology. We were in their home, so to speak. We are guests in their home and even though it was an accident, even though it was not intentional, we had made a bad mistake, a real error and the people deserved my apology, the president deserved my apology.

“He accepted it and I think in many respects, the personal nature of our relationship was what tempered the language coming out of the palace, the relief, his own engagement with the media and so on. Because of both of our actions, both of them supporting each other, we were able to keep this from being the result of a bad mistake from being something that could have really fractured the relationship.”

On the fallout in March after an American soldier killed 16 villagers in the southern Afghan district of Panjwai, which he first heard about when he was in the United States to testify before Congress:

“The first phone call was something of the effect of — we’ve got mixed reporting from Panjwai. We think an American soldier maybe shot some people and my response was, ‘All right. Let’s develop the situation quickly. Tell me what we got in front of us because we’ve got to make the Afghans were included on this.’ ”

“Then the phone calls started coming in and the numbers started going up and pretty quick and this is as bad a circumstance as you might have imagined.”

“I called President Karzai from home and we had a long conversation about it. I promised him once again that we would take all steps, measures, take all actions necessary to get to the bottom of this and we would do a full and complete investigation and those people necessary would be held accountable.”

“This was still unfolding. It was one shooter. It was multiple shooters. There were wild rumors associated with things that he had done in addition to shooting. So the information environment was wide open at this point. And both for the purposes of internal stability in Afghanistan for the purposes of preserving our relationship we were working very, very hard to confirm what we knew to be the facts and try very hard to get after the rumors that were just flying.”

“Once again, when he could have been angry, when it could have been a very negative conversation, I mean, he was tutorial. He explained to me why this is bad for the relationship, why this is bad for the campaign, and why this will shake the confidence of the Afghan people, his personal gesture of measured conversation with me. He wasn’t angry.”

On why the United States should stay engaged in Afghanistan:

“I put it in the context of this has been worth it. This is bigger than anyone of us. It’s bigger than the president. It’s bigger than the president of Afghanistan, because this isn’t about today. This is about tomorrow. This is about doing all we can to facilitate President Karzai with his desire to be successful. But it’ll be about doing all we can do to set up his successor for success.”


On overcoming the skepticism of officials in Washington, who often express frustration with Mr. Karzai:

“For this president, at this moment of its history, the Afghanistan history, to be able to hold together these tribes and these ethnic groups with these kinds of challenges has got to be one of the hardest jobs going. And so I try to paint the context of the challenges that he faces, the history from which he originates and help conceivably, he will interpret our actions. He may not understand what we are trying to do, or may misinterpret what we’re trying to do or say. And frankly, one of the great things about our democracy is also one of the hardest things about our democracy: That is, we don’t always speak with the same voice.

“So he’ll hear a voice from one part of the government, it will be different for another part of the government and he’ll see to square the differences. It’s not a criticism, it just is who we are. The farther you are away from Kabul, the farther you are away from the palace, the farther you are away from the history of this country in the complexities of society, the easier it is to generalize, frankly.”

On the need for the Afghan government to better serve its people and stamp out corruption within its ranks:

“We’ve worked very hard, obviously, to build a capacity in those. But when your ability to survive the night, or put food on the table was — well, for many years are functionally, what tribe you were part of, or what group you were part of. And those patronage networks undertook economic opportunities which made them some respect, criminal patronage networks.

“They can only survive because institutions of governance are weak. And so now, we find ourselves in this — at this very moment when the future of the country relies on the strength of institutions. The criminal patronage networks recognized that their future, their survival can only be sustained by keeping these institutions weak. That’s the moment we find ourselves in, and the presidential directive on any corruption and government reform and the Mutual Accountability Framework came out of Tokyo.

“These created very helpful, very useful, both domestic and international expectations for reform. So we need to see how smoothing past the written word and the spoken word and start moving towards action. I think the president, if he were sitting here would tell you that they have achieved some good action, good results in his presidential decree. The Mutual Accountability Framework is constantly being audited to see that there’s progress on reform. But again, we’re still pretty fresh in the process and we’ve got to let this play out some more.”

On the future of the war and Afghanistan:

“Let me make sure I’m clear on this. Nothing is sure in a post-conflict society. But I think the indicators, as far as I’m concerned, are that we’re on the right trajectory. What you have to understand, what people have to understand is some of these reforms take a very long time. In an environment where human rights were crashed under multiple different invasions or civil wars or the Taliban, creating once again the kind of bias for human rights that we would all expect in the Western society, just doesn’t come easily to this country.

“Nothing will happen in this country without security. And that security is being purchased every single day by the Afghan National Security Forces. And then, on the platform of that security, this president has announced a program or platform that he intends to follow. Now, he’s moving forward in some areas, he’s having resistance in others, but we just have to expect this is going to take time. That’s where huge patience has to come in. That’s where the decade of transformation comes in.”

On the surge of “insider attacks” against Westerners that took place in 2012:

“The losses became to this particular means of attack became very troubling, very significant, and tragic. And while on the tactical level and on the operational level, we were able to deal with the problem. This was becoming a strategic crisis — a strategic crisis in capitals, a strategic crisis for the alliance — and the Taliban saw this. They knew this. They saw that. They saw that the future of the A.N.S.F. relied on our being close, partner or adviser inside the Afghan formations.

“We were very careful in our reaction to insider attacks. Not to wall ourselves off from the Afghans and create distance. I used to tell them, you may not be able to do anything about the linear distance that you have to deal with but there’s a lot you can do about your proximity and the closer you all feel to each other, the more secure you will be. And that’s in an environment where we’re transitioning to being advisers almost entirely across Afghanistan. That has to be one of the operative principles for philosophically how we’re going to live with the Afghans. You treat them like brothers. You live with them like they’re family. That reduces the unknowns, it reduces the potential for cultural affront, and it makes you more secure.”

“That doesn’t mean we’re not going to keep a close eye on the environment. We still have these people called Guardian Angels because there are enemies in the ranks and they’re waiting to take that shot.”

“We took a lot of measures and the numbers are down. But I don’t in any way want anybody to become complacent about the number being down. I don’t want anyone to lift up on the security measures that they’re taking or reduce the attentiveness that they have to the environment around. So, I want everybody to be attentive and we’re going to periodically refresh our training both at the very lowest levels and for the units coming in. So, we’re not going to give up on this.”

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Director de Linux llega a Colombia a promover software libre y buscar talento






Juan David Mosos


Bogotá, 5 feb (EFE).- El presidente de Linux Internacional, Jon “Maddog” Hall, se encuentra en Colombia con el objetivo de promover el uso de software libre, al considerar que se trata de una oportunidad para toda América Latina en la generación de empleo, y además, buscar talento.






Hall expresó sus planes en una entrevista con Efe en Bogotá, en víspera de la inauguración de Boya.ca, la versión que Campus Party celebra desde mañana en Colombia y donde espera reclutar creativos.


“Yo estoy buscando los mejores programadores del mundo y seguramente no todos serán de Estados Unidos“, apuntó, al mostrarse confiado en que América Latina tiene mucho talento que puede aprovecharse para desarrollar la industria del software libre, en la que él trabaja a través de “Project Cauã”.


La ciudad de Tunja, capital del departamento de Boyacá y ubicada en el centro del país, recibirá hasta el 10 de febrero a cerca de 450 invitados dispuestos a debatir sobre desarrollo de software, hardware, electrónica, entre ellos el presidente de la empresa desarrolladora del sistema operativo Linux.


Hall, experto en software libre, trabaja desde 2007 en este proyecto con el que calcula que se pueden generar entre “uno y dos millones de empleos en el sector de la tecnología en Brasil y, por lo menos, uno o dos millones en el resto de América Latina”.


Por eso presentará “Project Cauã” en esta versión especial del Campus Party, donde espera que los asistentes entiendan las bondades del software libre, que, según él, puede ofrecer soluciones más sencillas de las que en ocasiones presentan empresas que venden sistemas cerrados.


Para Hall, trabajar con software libre permite dejar de depender de empresas desarrolladoras cuando se quiere un servicio tecnológico y se le puede pagar, por ejemplo, “a un programador colombiano, que compre con ese dinero una casa o comida en el país”, una dinámica que colabora en la generación de empleo en la región.


Los dispositivos móviles Raspberry Pi, desarrollados en el Reino Unido y disponibles en el mercado desde febrero de 2012, son para el presidente de Linux la prueba reina del buen funcionamiento de los sistemas libres, pues la mayoría de estos elementos tecnológicos utiliza el que desarrolla la empresa que él lidera.


“Alrededor de un millón de unidades han sido solicitadas en un año” de este producto, que ha estado a la venta por un precio de 35 dólares en Estados Unidos, recordó “Maddog”, quien remarcó la importancia de que los dispositivos permiten ver imágenes y vídeos de alta calidad.


El impacto, agregó, de los sistemas libres que promueve ha hecho que Wall Street y empresas como Google, Facebook y EBay lo usen para sus negocios, en lugar de implementar software cerrado.


“Ellos quieren una solución y por eso pagan, para que todo funcione como ellos quieren”, dijo Hall a Efe, al destacar que es necesario acabar con la idea de que lo libre es gratis.


Por eso, “Maddog” confía en encontrar talentos en Boya.ca que puedan aportar en sus proyectos, pues ya cuenta con las experiencias de pasadas versiones del Campus Party en Colombia, Brasil, Ecuador y España, de donde reconoció ha quedado sorprendido por la creatividad e innovación de sus participantes.


“Estoy en el proceso de reclutar personas y los Campus Party pueden servir”, afirmó el presidente de Linux al recordar que dos años atrás en un evento similar conoció a un colombiano que creó un busto humano robótico que mueve los ojos y la boca cuando recibe patrones de voz y ahora el inventor estudia en Estados Unidos.


También recordó a un joven que inició su empresa cuando tenía 18 años, después de haber diseñado una pequeña casa de madera que podía controlar completamente con su celular, así como a un español que comenzó su negocio tecnológico a los 12 años y a los 18 ya tenía más de 20.000 clientes.


Sin embargo, Hall alertó de que “hay gente que se quiere aprovechar y hacer que los creativos regalen su trabajo”.


“Eso hay que pagarlo y estoy ajustando mi plan de negocios para lograrlo” en “Project Cauã”, el que espera implementar en América Latina en los próximos años. EFE


jdm/erm/lnm


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Leeza Gibbons: I Count My Blessings - Not My Stretch Marks















02/06/2013 at 07:30 PM EST



When TV personality Leeza Gibbons married Steven Fenton in 2011, she joked that she was finally embracing "my inner cougar" – on their first date he was 38 and she was 51.

Now approaching their two-year anniversary in April, Gibbons has given a little more thought to the dynamics of their relationship and concludes that "the term cougar has so much energy around it that doesn't really fit."

"We laugh about it all the time," Gibbons, now 54, tells PEOPLE. (Fenton is a longtime talent manager and former president of the Board of Education in Beverly Hills.) "I always joke that emotionally and with regard to maturity, he's much older than I am."

The theme of starting over – "rebooting your life," as Gibbons calls it – runs through her new book, Take 2: Your Guide to Creating Happy Endings and New Beginnings.

She's had much to draw on from her own life: She's been divorced (this is her fourth marriage), had high-profile jobs at Entertainment Tonight, Extra and Leeza, and seen her kids grow older. She became an activist for family caregivers as her mother and grandmother both had Alzheimer's.

She writes about navigating change, basking in one's past, handling disappointments, "test-driving our dreams," learning how to say no and embracing the "Goddess Quotient" – how to be "a good girlfriend to yourself."

As for her own big new beginning, Gibbons remembers how just a couple of years ago she privately worried about the age difference.

"I did play out all those fears," she says. "I went through the list: I've got kids, there's a lot in my life that is big and complicated, he should be starting a young family. I went through all of it. I decided that I needed to count my blessings and not my stretch marks. I recognized that my work in the relationship was not to decide what he felt about it."

In the end, she says, "It was up to Steven to decide how to receive. He didn't need me to protect him from our age difference. Now two years later, there's so much respect and so much fun and so much faith in each other. We truly are our biggest supporters. That's really love"

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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.


___


JournaL: http://www.nejm.org


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Wall Street bounces back after sell-off; results a boost

NEW YORK (Reuters) - Stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.


Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.1 percent to $13.42.


All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent.


The market's bounce follows a sell-off on Monday that gave the S&P 500 its biggest percentage decline since mid-November. The benchmark remains up 6 percent since the start of the year and is less than 4 percent away from its all-time closing high of 1,565.15 from October 2007.


Analysts said fourth-quarter results have been among factors helping to boost stocks. On Tuesday, Archer Daniels Midland reported revenue and adjusted fourth-quarter earnings that beat expectations, boosted by strong global demand for oilseeds. Shares rose 3.3 percent to $29.38.


"There's not a huge upside surprise by any means, but we're definitely seeing slightly better-than-expected earnings overall," said Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois.


The Dow Jones industrial average <.dji> was up 99.22 points, or 0.71 percent, at 13,979.30. The Standard & Poor's 500 Index <.spx> was up 15.58 points, or 1.04 percent, at 1,511.29. The Nasdaq Composite Index <.ixic> was up 40.41 points, or 1.29 percent, at 3,171.58.


The market shot higher at the start of the year after U.S. lawmakers were able to come to a last-minute agreement to avoid a national "fiscal cliff," but questions on spending cuts remain.


President Barack Obama on Tuesday urged Congress to pass a small package of spending cuts and tax reforms. Though the plan was quickly rebuffed by Republican leaders, investors are looking for an agreement.


"I think there's some hopefulness out there that a reasonable compromise will be made," Evans said.


Also in earnings, Estée Lauder Cos Inc reported a higher quarterly profit and raised its full-year profit forecast. The stock rose 6 percent to $64.71.


With results in from more than half of the S&P 500 companies, 69 percent have beaten profit expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters. Sixty-six percent of companies have beaten on revenue.


Fourth-quarter earnings for S&P 500 companies are expected to rise 4.5 percent, according to the data, above the 1.9 percent forecast at the start of earnings season.


On the down side, McGraw-Hill shares slumped 10.7 percent to $44.92 after the U.S. Justice Department filed a civil lawsuit seeking $5 billion over mortgage bond ratings. Standard & Poor's, a McGraw Hill unit, was accused of inflating ratings and understating risk out of a desire to gain more business from investment banks.


On Monday, McGraw-Hill stock suffered its worst one-day decline since the 1987 market crash.


Volume was roughly 6.7 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 11 to 4 and on the Nasdaq by about 3 to 1.


(Editing by Kenneth Barry and Nick Zieminski)



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IHT Rendezvous: Worse Than Poisoned Water: Dwindling Water, in China's North

BEIJING — When 39 tons of the toxic chemical aniline spilled from a factory in Changzhi in China’s Shanxi province at the end of December, polluting drinking water for hundreds of thousands of people downstream along the Zhuozhang River and dangerously fouling the environment, it seemed a grave enough disaster. And it was.

So it’s hard to believe, perhaps, but in mid-January, just days after local officials belatedly revealed the spill to the public, a “rapid response team” sent by Greenpeace China to investigate found something even worse than the spill, the blogger Zhou Wei wrote in chinadialogue, an online magazine about China’s environment. Greenpeace found that the fast pace of water consumption by coal and chemical industries in the area is drying up all water resources further downstream. In fact, by 2015, water consumption by coal and chemical industry in China’s dry, western areas is set to use up a whopping quarter of the water flowing annually in the nearby Yellow River, which forms much of the border of Shanxi Province and is popularly known as China’s “Mother River,” wrote chinadialogue.

As chinadialogue wrote, citing Greenpeace, “Even more worrying than the chemical leak is the high water consumption of the coal and chemical industries in the area.”

The blog post, which chinadialogue says hasn’t been translated into English yet, cited Tong Zhongyu of Greenpeace’s East Asia office as saying that the situation was “growing more severe by the day.”

None of this may be news to hardened followers of China’s crumpling environment, but the scale of the water consumption in the water-scarce area is nonetheless shocking: The Tianji Coal Chemical Industry Group, which caused the spill, consumes water equivalent to the consumption of about 300,000 people per year, chinadialogue wrote, citing the Greenpeace investigation.

The coal and chemical industry is simply “a major water-eater,” the post said.

Water is a key challenge for the country as the racing economy guzzles it faster and faster. In the last 40 years, 13 percent of China’s lakes have disappeared, half its coastal wetlands have been lost to reclamation and 50 percent of cities left without drinking water that meets acceptable hygienic standards, the World Wildlife Fund said, according to another article in chinadialogue. The United Nations has singled China out as one of 13 countries with extreme water shortages.

“By any measure, the situation is bleak,” chinadialogue said. For now, the government is split between small-scale, practical solutions to the problem and huge engineering projects, such as the South-North water diversion scheme, which aims to transfer water from the rainy south to the dry north but has been widely criticized by environmentalists as too big, inefficient and ultimately unworkable.

“My heart is really out for the leadership trying to come up with solutions because China’s just so maddeningly complex,” Michael Bennett, an environmental economist, was quoted as saying. As evidence of serious efforts to solve the problem, Mr. Bennett pointed to widespread, small-scale, government-approved water conservation programs taking place around the country.

Will China solve its really serious water problems?

“The trend is in the right direction, the question is whether it’s going to be fast enough,” Mr. Bennett said.

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See the Stylish Photo Shoot Jessica Simpson Did Between Babies




Style News Now





02/05/2013 at 04:00 PM ET



Jessica Simpson PhotosCourtesy Jessica Simpson Collection


Jessica Simpson is no stranger to buzzworthy photoshoots, but the glamorous shots she snapped for her Spring 2013 clothing line may take the cake.


The sunlit campaign photos, shot in November on Malibu’s El Matador Beach by famed fashion photographer Ellen von Unwerth, show the mom-to-be showing off her fab, Harley Pasternak-toned bod in pieces from her clothing, shoe and sunglasses collections.


“Last fall’s campaign was shot while I was pregnant [with daughter Maxwell Drew] so I worked behind the scenes on the shoot,” Simpson tells PEOPLE exclusively. “I was really excited to be back in front of the camera for this year’s campaign.”


Of the photographer, Simpson gushes: “Ellen is incredible and was able to really capture the essence of the spring collection – it’s playful, all-American, classic.” Simpson demonstrates those qualities herself as she poses in items from a tie-dye skirt to a denim romper, sky-high neutral wedges to cheetah-print sunglasses — all while rocking her signature loose blonde waves, smoky eyes and light pink lips.


And the final word on the collection, straight from the star? “I want everyone to be able to wear my designs,” she says of the pieces, which are almost entirely under $200 and are starting to ship to stores including Macy’s and Nordstrom now. “The collection is accessible — from extra-small to plus and maternity, there is something for everyone to feel great in.”


Click to see another exclusive image from the campaign, then tell us: Are you excited to try on Jessica Simpson’s spring collection?


Jessica Simpson PhotosCourtesy Jessica Simpson Collection


–Alex Apatoff


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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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S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.


Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.


Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.


"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.


Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.


The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.


With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.


The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.


The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.


The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.


Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.


Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.


According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.


S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.


In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.


Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.


Volume was roughly 6.3 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.


Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.


(Editing by Kenneth Barry and Nick Zieminski)



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