Wall Street Week Ahead: Holiday "on standby" as clock ticks on cliff

NEW YORK (Reuters) - The last two weeks of December are traditionally quiet for stocks, but traders accustomed to a bit of time off are staying close to their mobile devices, thanks to the "fiscal cliff."

Last-minute negotiations in Washington on the so-called fiscal cliff - nearly $600 billion of tax increases and spending cuts set to take effect in January that could cause a sharp slowdown in growth or even a recession - are keeping some traders and analysts from taking Christmas holidays because any deal could have a big impact on markets.

"A lot of firms are saying to their trading desks, 'You can take days off for Christmas, but you are on standby to come in if anything happens.' This is certainly different from previous years, especially around this time of the year when things are supposed to be slowing down," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade in Chicago.

"Next week is going to be a Capitol Hill-driven market."

With talks between President Barack Obama and House Speaker John Boehner at an apparent standstill, it was increasingly likely that Washington will not come up with a deal before January 1.

Gordon Charlop, managing director at Rosenblatt Securities in New York, will also be on standby for the holiday season.

"It's a 'Look guys, let's just rotate and be sensible" type of situation going on," Charlop said.

"We are hopeful there is some resolution down there, but it seems to me they continue to walk that political tightrope... rather than coming up with something."

Despite concerns that the deadline will pass without a deal, the S&P 500 has held its ground with a 12.4 percent gain for the year. For this week, though, the S&P 500 fell 0.3 percent.

BEWARE OF THE WITCH

This coming Friday will mark the last so-called "quadruple witching" day of the year, when contracts for stock options, single stock futures, stock index options and stock index futures all expire. This could make trading more volatile.

"We could see some heavy selling as there is going to be a lot of re-establishing of positions, reallocation of assets before the year-end," Kinahan said.

RETHINKING APPLE

Higher tax rates on capital gains and dividends are part of the automatic tax increases that will go into effect next year, if Congress and the White House don't come up with a solution to avert the fiscal cliff. That possibility could give investors an incentive to unload certain stocks in some tax-related selling by December 31.

Some market participants said tax-related selling may be behind the weaker trend in the stock price of market leader Apple . Apple's stock has lost a quarter of its value since it hit a lifetime high of $705.07 on September 21.

On Friday, the stock fell 3.8 percent to $509.79 after the iPhone 5 got a chilly reception at its debut in China and two analysts cut shipment forecasts. But the stock is still up nearly 26 percent for the year.

"If you owned Apple for a long time, you should be thinking about reallocation as there will be changes in taxes and other regulations next year, although we don't really know which rules to play by yet," Kinahan said.

But one indicator of the market's reduced concern about the fiscal cliff compared with a few weeks ago, is the defense sector, which will be hit hard if the spending cuts take effect. The PHLX Defense Sector Index <.dfx> is up nearly 13 percent for the year, and sits just a few points from its 2012 high.

(Reporting by Angela Moon; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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News Analysis: China Stays Beside North Korea, a Buffer Against the U.S.

BEIJING — Even though North Korea ignored China’s appeal not to test its new longer-range missile, the new leadership here appears intent on remaining a steadfast supporter of its wayward neighbor because it considers the North a necessary buffer against the United States and its allies.

Analysts said that China’s overriding fear was of a collapse of the hard-line Communist government in Pyongyang, which could lead to the reunification of the Korean Peninsula under a government in Seoul allied with the United States. China, they said, would consider an American presence on its doorstep untenable.

But China’s unyielding support of Kim Jong-un has a serious downside, they added, because it may lead to a result nearly as unpalatable: efforts by the United States and its regional allies Japan and South Korea to contain China.

“It stirs up regional security,” said Zhu Feng, a professor of international relations at Peking University who favors reducing support for North Korea. Without naming the United States, he added that the missile launching “facilitates China-bashers to work on hard-line policies to contain China, or just balance China.”

Obama administration officials were clearly exasperated this week with China’s inability to rein in Mr. Kim, saying that they were considering a stronger military presence in the Asia-Pacific region.

Beneath the official tolerance of North Korea, a debate about the wisdom of remaining loyal to such a world outlier and its defiant young leader simmers among analysts who strive to influence China’s foreign policy.

China runs the risk, Dr. Zhu said, of being bunched together with North Korea as one of “the two bad guys.”

“I feel very frustrated,” Dr. Zhu added. “At least we should distance ourselves from North Korea. The reality is, as long as North Korea can’t change their behavior, then peace and stability on the peninsula will be increasingly vulnerable.”

China has twice asked Mr. Kim, who inherited the leadership of North Korea after the death of his father at the end of last year, not to proceed with missile tests, and twice he has rebuffed the entreaties. Shortly after he came to power, a Chinese vice minister of foreign affairs, Fu Ying, visited Pyongyang to warn him not to conduct a test. In April, Mr. Kim went ahead anyway with a rocket launching, which fizzled. Last month, Li Jianguo, a member of the Politburo, visited North Korea to again urge restraint.

Despite their displeasure, China’s leaders see little choice but to put up with such indignities.

The slight pique expressed by the Foreign Ministry on Wednesday was not a signal that China would alter its course, the analysts said, or back tougher sanctions at the United Nations.

The official reaction was “very hesitant,” said Jin Canrong, a professor of international relations at Renmin University in Beijing.

After the missile test, Washington immediately started pushing for deeper sanctions at the United Nations and for a tightening of existing sanctions that China agreed to after earlier rocket launchings.

“China will not support a resolution; it will favor a president’s statement,” said Cai Jian, the deputy director of the Center for Korean Studies at Fudan University in Shanghai. A president’s statement at the United Nations is considered a much weaker form of condemnation than sanctions.

A major reason for not backing new sanctions is the fear that they would provoke North Korea to test another nuclear weapon, a far worse prospect than the launching of an unarmed rocket like the one on Wednesday, said Jonathan D. Pollack, a North Korea expert at the Brookings Institution in Washington.

“The North Koreans demurred from a third nuclear test in April, very likely under major Chinese pressure,” Dr. Pollack said.

In 2006 and 2009, North Korea tested a nuclear weapon soon after launching missiles. Dr. Pollack said a repeat of that action would pose a major test to the Obama administration, as well as to the new Chinese leader, Xi Jinping.

“Pyongyang may have decided now is the time to put down a major marker as Obama’s second term approaches and as South Korea elects a new president,” he said.

Beyond the hard strategic questions for the new Chinese leadership, the concerns among ordinary Chinese about why China bankrolls such a ruthless government should be considered, several Chinese analysts said.

“Internally in China, many voices are questioning all this spending on rocket launches instead of on improving people’s livelihoods,” said Jia Qingguo, an expert at Peking University.

The South Korean government recently estimated that North Korea had spent $2.8 billion to $3.2 billion since 1998 on its missile program, said Stephan M. Haggard, a professor of Korea-Pacific studies at the University of California, San Diego. That amount of money would have bought enough corn to feed the country for about three years, Dr. Haggard said.

The debate within China about its relationship with North Korea stems from the unusual nature of the alliance. Fundamentally, the two governments do not like each other and harbor deep mutual suspicions, said Stephanie T. Kleine-Ahlbrandt, the China and Northeast Asia project director of the International Crisis Group in Beijing. When North Korean officials visited Singapore this year to get new ideas for Mr. Kim’s government, leaders in Beijing — who have sent teams of their own to Singapore to study its softer form of one-party leadership — became very nervous, she said.

The larger fear is that any fundamental change in North Korea could send waves of refugees into China, who would be considerably more difficult to absorb than people of other nationalities on China’s borders.

“For the Chinese,” Ms. Kleine-Ahlbrandt said, “there are fewer problems keeping North Korea the way it is than having a collapse.”

Bree Feng contributed research.

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Sweet and Lowe: How a captivating Twitter feed sealed Rob Lowe’s comeback

By Virginia Heffernan

@RobLowe follows 135 people on Twitter. Among them is not @HilaryASwank, the Oscar-winning ex-wife of his brother, @ichadlowe.

@RobLowe does, however, follow @ikimlowe, the new wife of his brother, who helpfully identifies herself on the site as “wife of @ichadlowe.” Would @HilaryASwank, a formidable actor who does not use Twitter very often, have consented to live in her lesser-known husband’s Twitter shadow? Perhaps not. Perhaps that’s why they div—

But what am I doing? This is where Twitter can lead a person: to deranged, speculative pointless nosiness. To mindlessly customizing a version of Us Weekly magazine by reading between the Twitter lines of who follows whom, who tags whom, who seeks whose attention with tags and hashtags.

So forget that. I’m just going to keep following @RobLowe. His Twitter feed is one for the ages, and he’s on a tear, having just hit half a million followers. And I swear I follow Rob Lowe for the epigrams and jokes—why else?—though, yes, I once had a poster of the matinee idol from “St. Elmo’s Fire” on my wall. (But only because I learned that science had proven that he and Jaclyn Smith were the most perfectly symmetrical, beautiful humans ever to exist—and who ever would exist. It was a duty of citizenship in the human race to have a poster!)

Not long after “St. Elmo’s Fire,” @RobLowe, the record reflects, had a speedy fall after an early-adopter DIY sex tape (1988! Paris Hilton’s was not ’til 2003!). As Lowe’s first-rate autobiography reports, this was part of a bigger personal unraveling into promiscuity and dissipation on an NBA/Lohan scale. Eventually Lowe found deliverance in sobriety (which he names as one of his interests on Twitter) and the love of a good woman, @Sheryl_Lowe (business) or @Sheryllowe61 (personal).

Lowe also evidently found something in Twitter. As his career has done more than rebound—it has fully realized itself, with his comic-stilted-earnest-inimitable performances on “The West Wing,” “Brothers & Sisters” and, now, “Parks and Recreation”—he has built a sturdy and complementary Twitter feed.

Lowe’s Twitter presence seals his comeback. It is freewheeling, wide-ranging and among his best work. The onetime incorrigible gadfly, who might have died outside the Viper Room like River Phoenix or been left howling at the moon like Charlie Sheen, now knows who he is, has a gift for observational humor and lives his life with something that looks like joy.

Lowe recently retweeted this observation from the Telegraph’s Damian Thompson:

More:

Another Lowe tweet:

Which of us–especially those of us who were born in the 1960s–doesn’t feel like saying that aloud every year?

And speaking of Lowe’s vintage, it’s appealing that he’s not afraid to use our generation’s corny locutions on young-skewing Twitter. As he put it recently:

The merciless “pumped” kills me. Do people never leave the slang (or bands?) of their 20s? Lowe is big on “dude,” too.

At the same time, Lowe seems to enjoy aging:

He wrote this last month, referring to Chris Traeger, his character on “Parks and Recreation,” who exercises without cease, gunning for eternal life. In Traeger’s intense specificity—his needs in beverages, for example, are so idiosyncratic as to require paragraphs of instructions—he is a perfect new-sitcom archetype. One thing he is not is cool.

And neither is Lowe cool in his Twitter feed. Often he is sending out blessings to his followers or his family, or reveling in mere existence, with the hashtag #LoveLife. Lowe’s autobiography makes clear that the Handsome Man, a cultural slot in which he found himself early on, invites way too much resentment if he doesn’t start spoofing himself with gusto. It’s imperative he find the joke in life, and the dignity in himself, or he’ll yield to prettiness and silliness, as well as drugs and sex tapes.

Look on that @RobLowe Twitter feed, and learn from it, ye handsome millennials!

Social Media News Headlines – Yahoo! News

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Chris Pratt Loves Anna Faris's Post-Baby Booty

Mom & Babies
Celebrity Baby Blog

12/13/2012 at 11:00 AM ET

CL/Splash News Online

For actor Chris Pratt, bigger is better — at least when it comes to his wife’s body after baby.

Since welcoming their first child, Jack, the actress has been taking her time to shed the pregnancy pounds, attributing any weight loss to carrying around the couple’s 3-month-old son.

“I think it’s from hauling around the little guy,” Faris tells E!, adding she prefers to “cherish” her baby boy rather than hitting the gym. “I’m trying to do it without help. So it’s been a lot of lifting.”

But according to the new mom, the pressure from Pratt is off … or rather on — to keep some of her curves! “I have the sweetest husband. He makes me feel good at any weight,” Faris, 36, shares.

“In fact, I kinda think that he likes it when my butt is a little bit bigger.”

And just in case there’s any doubt to the Zero Dark Thirty star loving her backside assets, Pratt, 33, quips, “I’ll take it. I like it. Don’t work too hard.”

– Anya Leon

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Fewer health care options for illegal immigrants

ALAMO, Texas (AP) — For years, Sonia Limas would drag her daughters to the emergency room whenever they fell sick. As an illegal immigrant, she had no health insurance, and the only place she knew to seek treatment was the hospital — the most expensive setting for those covering the cost.

The family's options improved somewhat a decade ago with the expansion of community health clinics, which offered free or low-cost care with help from the federal government. But President Barack Obama's health care overhaul threatens to roll back some of those services if clinics and hospitals are overwhelmed with newly insured patients and can't afford to care for as many poor families.

To be clear, Obama's law was never intended to help Limas and an estimated 11 million illegal immigrants like her. Instead, it envisions that 32 million uninsured Americans will get access to coverage by 2019. Because that should mean fewer uninsured patients showing up at hospitals, the Obama program slashed the federal reimbursement for uncompensated care.

But in states with large illegal immigrant populations, the math may not work, especially if lawmakers don't expand Medicaid, the joint state-federal health program for the poor and disabled.

When the reform has been fully implemented, illegal immigrants will make up the nation's second-largest population of uninsured, or about 25 percent. The only larger group will be people who qualify for insurance but fail to enroll, according to a 2012 study by the Washington-based Urban Institute.

And since about two-thirds of illegal immigrants live in just eight states, those areas will have a disproportionate share of the uninsured to care for.

In communities "where the number of undocumented immigrants is greatest, the strain has reached the breaking point," Rich Umbdenstock, president of the American Hospital Association, wrote last year in a letter to Obama, asking him to keep in mind the uncompensated care hospitals gave to that group. "In response, many hospitals have had to curtail services, delay implementing services, or close beds."

The federal government has offered to expand Medicaid, but states must decide whether to take the deal. And in some of those eight states — including Texas, Florida and New Jersey — hospitals are scrambling to determine whether they will still have enough money to treat the remaining uninsured.

Without a Medicaid expansion, the influx of new patients and the looming cuts in federal funding could inflict "a double whammy" in Texas, said David Lopez, CEO of the Harris Health System in Houston, which spends 10 to 15 percent of its $1.2 billion annual budget to care for illegal immigrants.

Realistically, taxpayers are already paying for some of the treatment provided to illegal immigrants because hospitals are required by law to stabilize and treat any patients that arrive in an emergency room, regardless of their ability to pay. The money to cover the costs typically comes from federal, state and local taxes.

A solid accounting of money spent treating illegal immigrants is elusive because most hospitals do not ask for immigration status. But some states have tried.

California, which is home to the nation's largest population of illegal immigrants, spent an estimated $1.2 billion last year through Medicaid to care for 822,500 illegal immigrants.

The New Jersey Hospital Association in 2010 estimated that it cost between $600 million and $650 million annually to treat 550,000 illegal immigrants.

And in Texas, a 2010 analysis by the Health and Human Services Commission found that the agency had provided $96 million in benefits to illegal immigrants, up from $81 million two years earlier. The state's public hospital districts spent an additional $717 million in uncompensated care to treat that population.

If large states such as Florida and Texas make good on their intention to forgo federal money to expand Medicaid, the decision "basically eviscerates" the effects of the health care overhaul in those areas because of "who lives there and what they're eligible for," said Lisa Clemans-Cope, a senior researcher at the Urban Institute.

Seeking to curb expenses, hospitals might change what qualifies as an emergency or cap the number of uninsured patients they treat. And although it's believed states with the most illegal immigrants will face a smaller cut, they will still lose money.

The potential impacts of reform are a hot topic at MD Anderson Cancer Center in Houston. In addition to offering its own charity care, some MD Anderson oncologists volunteer at a county-funded clinic at Lyndon B. Johnson General Hospital that largely treats the uninsured.

"In a sense we've been in the worst-case scenario in Texas for a long time," said Lewis Foxhall, MD Anderson's vice president of health policy in Houston. "The large number of uninsured and the large low-income population creates a very difficult problem for us."

Community clinics are a key part of the reform plan and were supposed to take up some of the slack for hospitals. Clinics received $11 billion in new funding over five years so they could expand to help care for a swell of newly insured who might otherwise overwhelm doctors' offices. But in the first year, $600 million was cut from the centers' usual allocation, leaving many to use the money to fill gaps rather than expand.

There is concern that clinics could themselves be inundated with newly insured patients, forcing many illegal immigrants back to emergency rooms.

Limas, 44, moved to the border town of Alamo 13 years ago with her husband and three daughters. Now single, she supports the family by teaching a citizenship class in Spanish at the local community center and selling cookies and cakes she whips up in her trailer. Soon, she hopes to seek a work permit of her own.

For now, the clinic helps with basic health care needs. If necessary, Limas will return to the emergency room, where the attendants help her fill out paperwork to ensure the government covers the bills she cannot afford.

"They always attended to me," she said, "even though it's slow."

___

Sherman can be followed on Twitter at https://twitter.com/chrisshermanAP .

Plushnick-Masti can be followed on Twitter at https://twitter.com/RamitMastiAP .

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Stock futures rise with Wall Street set for bounce back

NEW YORK (Reuters) - U.S. stock index futures rose on Friday, pointing to a modest rebound for Wall Street after Thursday's retreat, though investors remained concerned about a lack of progress by politicians in ongoing fiscal negotiations.

Economic data out of China showed that manufacturing in the world's second-largest economy grew at its fastest pace in 14 months in December. That indicated China's economy was on the mend, encouraging news for its key trading partners such as the United States.

However, in Europe, the euro zone's manufacturing and services sectors showed only small signs of improvement and remained in contraction territory.

"If we assume we're going to have a continuation of a shallow recession in the euro zone, the global economy can actually increase in terms of GDP with a pick up in the pace of the Chinese economy," said Art Hogan, managing director of Lazard Capital Markets in New York.

"The bad news is, in large part, we've seen the market ignore relatively good news in the economic data stream as we focus on the fiscal cliff."

President Barack Obama and House of Representatives Speaker John Boehner held a "frank" meeting Thursday to try to break an impasse in negotiations over the "fiscal cliff," tax hikes and spending cuts set to kick in early in 2013.

Frustration has mounted over the lack of progress in the discussions, with market participants' worries reflected in a 0.6 percent drop in the S&P 500 on Thursday. Investors are concerned that going over the cliff could tip the economy back into recession. While a deal is expected to be reached eventually, a drawn-out debate - like the one seen over 2011's debt ceiling - can erode confidence.

"I think the market is convinced, due to the fact that we haven't seen much of a pullback, that some (fiscal) compromise will happen before the end of the year," said Hogan.

Worries over the outcome of the talks ended the S&P 500's six-day winning streak on Thursday, but the index has performed well over the past month. On Wednesday, the S&P hit its highest intraday level since late October.

S&P 500 futures rose 2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 32 points, and Nasdaq 100 futures added 1 point.

The consumer price index for November is due at 8:30 a.m. ET, while industrial production will be released at 9:15 a.m. ET.

Shares of Adobe Systems were up 5.8 percent at $37.59 in premarket trading after the company said it expected profit and earnings to grow from 2013 onwards.

Sprint Nextel Corp's $2.1 billion offer to buy out Clearwire Corp appeared to be running into trouble on Thursday, as some shareholders said they wanted more money, while Softbank Corp set a cap on how much Sprint could pay.

Clearwire shed 1.6 percent to $3.11 in light premarket trading.

Apple's iPhone 5 will be released in China on Friday but its longer-term hopes may depend on new technology being tested by China's top telecoms carrier. Shares of Apple were down 1.7 percent at $520.50 in premarket trading.

(Editing by Bernadette Baum)

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Moscow Journal: Russian Web Site Roszkh Fights Corruption Through Housing

MOSCOW — Not since Joe the Plumber have contractors taken on such political overtones.

In a city where it is often impossible to get a plumber or any other repairman, somebody just figured out how to fix the pipes — and replace light bulbs, scrub off graffiti and patch leaky roofs. Throughout Moscow and other Russian cities, such elementary building repairs are suddenly in full swing as the city’s craftsmen, their reputations for surliness, laziness and drunkenness undiminished, are hurrying from one appointment to another.

Delighted Muscovites are crediting a new Web site for the unaccustomed Calvinist work ethic. Called Roszkh, it streamlines the process for filing complaints about maintenance of the communal areas of apartment buildings, like hallways and entryways, that remained public property after post-Soviet privatizations.

Stymied by a loss of momentum after street protests, Russian opposition leaders had been casting about for other approaches to remain relevant through what promises to be a long tenure for President Vladimir V. Putin. Aleksei Navalny, a blogger and political activist, hit upon the idea of the Web site, which is run under the auspices of his Foundation for Fighting Corruption.

“It’s difficult to say when the next wave of protests will come,” Mr. Navalny said in an interview about his new site, named after an acronym Russians use for their combined utility and building maintenance bills, ZhKKh.

Roszkh was an instant sensation. Since the site went up on Nov. 8, 28,354 users have filed 45,835 complaints, mostly in Moscow and other large cities. So far, repairmen have fixed about 2,600 reported problems. That may not sound like much, but in Russia it qualifies as extraordinary.

“I live in an old five-story building where the hallway has no light and no windows,” one Muscovite, Boris Frantskevich, wrote in a post. It seemed it would be that way forever. But on a lark, he tried logging a complaint on the Web site.

“Just today, I walk out of my apartment and an electrician is digging in the wires,” Mr. Frantskevich wrote. “Wow, he’s fixed the light.”

Mr. Navalny attributes the site’s success to official sensitivities to a deep vein of public anger over the deplorable state of housing in Russia, and particularly in Moscow. In a leaked letter, Russia’s chief housing inspector issued an order that the complaints on Mr. Navalny’s Web site be addressed immediately.

The inspector, Nikolai Vasyutin, clarified the government response in a letter to subordinates: Applicants needed to be helped immediately, not in spite of the site’s political character, but because of it.

“It’s become obvious this is a policy by the opposition to discredit all levels of the government,” the letter said. “But this shouldn’t confuse the organs of the state housing inspection.” It instructed city officials to counteract the tactic by fixing problems quickly.

Public opinion surveys indicate that the steady rise in ZhKKh fees is the issue that upsets Russians most; a planned increase was delayed during presidential elections last winter, only to kick in this year.

The fees have been rising faster than inflation. Many Russians are incensed about paying more — currently about $130 a month in Moscow, and less in other cities — while hallways, even in upscale buildings, are often yawning black tunnels, splattered with graffiti and reeking of septic odors.

These problems have become a vulnerability for Mr. Putin, but one largely of his own making. The governing political party, United Russia, went to great pains to ensure that it dominated not only national but also regional and local politics, often suppressing opponents to do so. The party also dominates city councils.

As Mr. Navalny, a former real estate lawyer, has been gleefully pointing out, this means that every broken light bulb and burst pipe is now the party’s problem.

“We are trying to attract people who can fight corruption together with us,” Mr. Navalny said. “It’s clear that an ordinary person has a hard time helping us fight corruption at Gazprom,” the big state energy company. “But unfortunately in Russia, corruption surrounds a person everywhere. We are trying to create a mechanism for people to fight corruption themselves.”

The site asks users to enter their address and choose from a menu of common Russian repair problems: water flowing a rich orange color from rusted pipes, say, or a boiler failing in midwinter.

The program then automatically pastes on a lengthy legal text composed by Mr. Navalny and his volunteer group of lawyers for the benefit of the receiving bureaucrat, citing ordinances that mandate a response or repair, usually within 45 days.

The site automatically routes complaints to the appropriate municipal authority in thousands of cities in Russia’s 83 regions. So far, though, Muscovites and residents of a few other large cities where Internet use is high have filed most of the complaints.

The site is easy to use. It saves profiles, allowing angry Russians to return whenever they have another leaky pipe or a new buildup of filth in a hallway.

In St. Petersburg, building inspectors initially declined to respond to several thousand complaints generated on the site. Whether that was for political reasons or out of laziness remains unclear.

But by early December, the office was working overtime to fix communal areas, and a housing maintenance official had been arrested for mismanagement, one of several moves by the government in an apparent effort to get ahead of the issue.

Even as complaints pile up, site moderators urge users to keep on filing.

One man, Sergei Sadko, wrote that an entire delegation of city officials promptly visited his apartment after he complained about a leaky roof.

“They said they would fix it in the spring,” he wrote. “Should I change my status to ‘problem solved’?”

The response: “File another complaint. They are required to fix everything immediately.”

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Google Maps finally comes to iOS. Again [updated]

Apple has had quite a bumpy car ride so far with it’s mapping product. That all ends in just a couple hours, however, because late Wednesday evening Google is planning on bringing Maps back to iOS with the release of the company’s own software. AllThingsD is reporting that Google’s app will be available for download in the App Store shortly, and we’ll provide some initial thoughts on it soon after.

UPDATE: Google Maps is now available on Apple’s App Store for the iPhone, iPad and iPod touch.

Get more from BGR.com: Follow us on Twitter, Facebook

Gadgets News Headlines – Yahoo! News

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John McAfee Deported from Guatemala, Back in U.S.

By Tim Nudd

12/13/2012 at 07:50 AM EST

John McAfee in Guatemala

Guatemala's National Police/AP

The latest chapter in the John McAfee saga was written Wednesday, as the anti-virus software pioneer was released from Guatemalan custody and flown to Miami, where he was met by federal officials.

"It was the most gracious expulsion I've ever experienced," McAfee, 67, told ABC News. "Compared to my past two wives that expelled me, this isn't a terrible trip."

He added: "They took me out of my cell and put me on a freaking airplane. I had no choice in the matter."

McAfee is wanted for questioning in the November gunshot murder of a neighbor in Belize. He has denied any wrongdoing, yet fled Belize – going undercover in disguise for several weeks – and sought asylum in Guatemala.

Authorities there arrested him for entering the country illegally. But after an eventful detention, in which McAfee was briefly hospitalized after suffering a nervous collapse, the country evidently felt it prudent to return McAfee to his home soil.

It was not clear Wednesday whether authorities in Miami escorted McAfee away to shield him from the media or because they wanted to question him.

McAfee said he has retained a lawyer in the U.S. and plans to seek a visa for his 20-year-old Belizean girlfriend.

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Stock futures mixed on "fiscal cliff" worries

NEW YORK (Reuters) - Stock futures were mixed on Thursday as a new round of stimulus for the economy was not enough to offset worries over the impact of the impending "fiscal cliff".

* In the European Union, finance ministers reached a deal to make the European Central Bank the bloc's top banking supervisor. The move could boost confidence in leaders' ability to tackle the region's sovereign debt crisis.

* But the set of U.S. tax hikes and spending cuts that are set to come into effect in the new year remained at the forefront of investors' minds. Negotiators on Wednesday warned the showdown over reaching a deal could drag on past Christmas.

* The Federal Reserve on Wednesday announced a fresh bout of stimulus for the U.S. economy, but markets focused on comments from Chairman Ben Bernanke, who reiterated that monetary policy would not be enough to offset going over the fiscal cliff.

* Investors are worried that doing so could send the economy back into recession, though most expect a deal will be struck eventually.

* The central bank also took the unprecedented step of indicating interest rates would remain near zero until unemployment falls to at least 6.5 percent.

* In a busy day of data, reports on U.S. producer prices, retail sales and first time claims for unemployment benefits will all be released at 8:30 am ET (1330 GMT). Business inventories are due at 10:00 am ET (1500 GMT).

* S&P 500 futures fell 0.70 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were up 11 points, while Nasdaq 100 futures added 1.25 points.

* Sprint Nextel Corp is looking to buy Clearwire Corp stock it does not already own for $2.90 per share, it said in a regulatory filing. Shares of Clearwire were up 5.5 percent at $2.90 in premarket trading.

* Knight Capital Group Inc expects to make a decision on its future ownership by early next week, the Wall Street Journal reported, citing people familiar with the matter.

* Australia's GrainCorp Ltd rejected a sweetened $2.9 billion bid from Archer Daniels Midland Co . Analysts said ADM was likely to lift its bid for the company.

(Reporting by Leah Schnurr)

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