Stock futures edge higher after seven-week rally

NEW YORK (Reuters) - Stock index futures edged higher on Tuesday, indicating the S&P 500 will build on its seven-week winning streak ahead of data on the housing market.


* The S&P 500 <.spx> has risen for seven straight weeks, its longest streak since January 2011, and is up 6.6 percent for the year.


* The strong start to the year was fueled by legislators in Washington averting a series of automatic spending cuts and tax hikes that were set to take effect on January 1, as well as better-than-expected corporate earnings and data that pointed to modest economic improvement but no immediate change in the Federal Reserve's stimulus plans.


* But further gains for the benchmark S&P index have been a struggle recently as investors look for new catalysts to lift the index as it hovers near five-year highs.


* Economic data on tap includes the National Association of Home Builders/Wells Fargo housing market index for February at 10 a.m. (1500 GMT). Economists in a Reuters survey expect a reading of 48 compared with 47 in January.


* Improving housing data has been cited by analysts as one of the key factors in the equity market rally.


* S&P 500 futures rose 1.4 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 18 points, and Nasdaq 100 futures added 5.25 points.


* Office Depot Inc jumped 11.1 percent to $5.10 in premarket trading after a person familiar with the matter said the No.2 U.S. office supply retailer is in advanced talks to merge with smaller rival OfficeMax Inc and a deal could come as early as this week. OfficeMax shares climbed 13.5 percent to $12.20 in light premarket trade.


* Computer-maker Dell reports fourth-quarter results, expected to show earnings per share fall to $0.39 from $0.51 one year earlier. Analysts will have their first chance to question management on a buyout deal struck earlier this month by chief executive Michael Dell, private equity firm Silver Lake and Microsoft .


* An investor bid to break up Hess Corp's sprawling energy empire has drawn unwelcome attention to one of the commodity trading world's lesser-known players, a venture that has stumbled in recent years after a decade of success.


* European shares rose on Tuesday, lifted by gains at food group Danone and fresh signs of a German economic recovery, although broader market sentiment remained cautious ahead of Italian elections this weekend. <.eu/>


* Philippine and Australian shares scaled new heights but other Asian shares were mixed, with worries about the risk of an inconclusive outcome in Italy's election and U.S. budget talks limiting the upside after strong rallies in early February.


(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)



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South African Leader Launches New Political Party







JOHANNESBURG (Reuters) - Respected anti-apartheid activist Mamphela Ramphele launched a new political party on Monday to challenge South Africa's ruling ANC, saying self-interested and corrupt leaders were threatening the continent's biggest economy.




Invoking the spirit of Nelson Mandela and the optimism that prevailed at South Africa's first all-race elections in 1994, Ramphele said the dream of the "Rainbow Nation" was dying under the African National Congress (ANC).


"Our society's greatness is being undermined by a massive failure of governance," she said, urging South Africans to "build our nation into the country of our dreams".


Ramphele, 65, faces a formidable challenge. Although political support for the ANC is weakening 19 years after the end of white-minority rule, it remains an unrivalled political machine and commands a nearly two-thirds majority in parliament.


But the medical doctor and former World Bank managing director has the respect of much of the country's black majority as a partner of Black Consciousness leader Steve Biko, who died in 1977 in apartheid police custody.


She was also placed under house arrest for seven years by the apartheid government because of her political work. She has regularly challenged authority and the ANC on its failings.


The new party, which will contest elections due early next year, will be called 'Agang', the Sesotho word for "Let us build".


The ANC "noted" her announcement but said Ramphela's launch speech, outside the Constitutional Court in central Johannesburg, offered nothing new.


The 101-year-old liberation movement also dismissed Ramphele's accusation that it was to blame for income inequality, social violence, failing education and other problems.


"The criticism of the ANC is a failure to acknowledge that many of the challenges were not created by the ANC. It is historical," party spokesman Keith Khoza said.


"Any party that won elections would have faced the same societal issues in education, health, housing and so on."


A group of ANC heavyweights split off in 2008 to form the Congress of the People (COPE) but the party fared poorly in elections the following year and has since all-but imploded amid infighting and wrangling.


(Reporting by Jon Herskovitz; Writing by Ed Cropley; Editing by David Dolan and Andrew Heavens)


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Photo Fun at the Oscar Nominees Luncheon





Jessica Chastain, Hugh Jackman, Denzel Washington and more pull their best poses at PEOPLE's exclusive photo shoot








Credit: Larry Busacca/Getty for People.com



Updated: Tuesday Feb 05, 2013 | 01:30 PM EST
By: Alison Schwartz




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Study: Better TV might improve kids' behavior


SEATTLE (AP) — Teaching parents to switch channels from violent shows to educational TV can improve preschoolers' behavior, even without getting them to watch less, a study found.


The results were modest and faded over time, but may hold promise for finding ways to help young children avoid aggressive, violent behavior, the study authors and other doctors said.


"It's not just about turning off the television. It's about changing the channel. What children watch is as important as how much they watch," said lead author Dr. Dimitri Christakis, a pediatrician and researcher at Seattle Children's Research Institute.


The research was to be published online Monday by the journal Pediatrics.


The study involved 565 Seattle parents, who periodically filled out TV-watching diaries and questionnaires measuring their child's behavior.


Half were coached for six months on getting their 3-to-5-year-old kids to watch shows like "Sesame Street" and "Dora the Explorer" rather than more violent programs like "Power Rangers." The results were compared with kids whose parents who got advice on healthy eating instead.


At six months, children in both groups showed improved behavior, but there was a little bit more improvement in the group that was coached on their TV watching.


By one year, there was no meaningful difference between the two groups overall. Low-income boys appeared to get the most short-term benefit.


"That's important because they are at the greatest risk, both for being perpetrators of aggression in real life, but also being victims of aggression," Christakis said.


The study has some flaws. The parents weren't told the purpose of the study, but the authors concede they probably figured it out and that might have affected the results.


Before the study, the children averaged about 1½ hours of TV, video and computer game watching a day, with violent content making up about a quarter of that time. By the end of the study, that increased by up to 10 minutes. Those in the TV coaching group increased their time with positive shows; the healthy eating group watched more violent TV.


Nancy Jensen, who took part with her now 6-year-old daughter, said the study was a wake-up call.


"I didn't realize how much Elizabeth was watching and how much she was watching on her own," she said.


Jensen said her daughter's behavior improved after making changes, and she continues to control what Elizabeth and her 2-year-old brother, Joe, watch. She also decided to replace most of Elizabeth's TV time with games, art and outdoor fun.


During a recent visit to their Seattle home, the children seemed more interested in playing with blocks and running around outside than watching TV.


Another researcher who was not involved in this study but also focuses his work on kids and television commended Christakis for taking a look at the influence of positive TV programs, instead of focusing on the impact of violent TV.


"I think it's fabulous that people are looking on the positive side. Because no one's going to stop watching TV, we have to have viable alternatives for kids," said Dr. Michael Rich, director of the Center on Media and Child Health at Children's Hospital Boston.


____


Online:


Pediatrics: http://www.pediatrics.org


___


Contact AP Writer Donna Blankinship through Twitter (at)dgblankinship


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Euro, dollar up after G20, stocks ease on growth concern

LONDON (Reuters) - The euro and the dollar rose against the yen on Monday after the G20 decided not to criticize Japan for its expansionist policies, but shares eased as Europe's weak growth outlook weighed on sentiment.


Financial leaders from the world's 20 biggest economies promised on Saturday not to devalue their currencies to boost exports, aiming to defuse talk of currency wars that had been roiling the markets.


The euro gained 0.2 percent to 125.32 yen, edging up toward a 34-month high of 127.71 yen hit earlier this month, while the dollar rose 0.6 percent to 94 yen, closer to its highest level since May 2010 of 94.46 hit on February 11.


"Future yen direction will continue to be driven by domestic monetary policy from the Bank of Japan and improving international investor confidence, which are both driving the yen weaker," said Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi UFJ.


Japanese Prime Minister Shinzo Abe is poised to nominate a new BOJ governor. Sources told Reuters that former financial bureaucrat Toshiro Muto, considered likely to be less radical than other candidates, was leading the field.


Abe said on Monday that buying foreign bonds was a future option for the Bank of Japan, which would entail selling of the yen by the central bank.


The euro was also rising against the dollar, gaining 0.1 percent to $1.3375 ahead of address by European Central Bank president Mario Draghi to the region's parliament which may touch on the outlook for the single currency after the G20 meeting.


In European markets, attention was also switching to the release of euro area Purchasing Managers' Indexes for February and German sentiment indices due later in the week, and the upcoming general elections in Italy.


Analysts expect Thursday's euro area flash PMI indices, which point to economic activity around six months out, to show growth stabilizing across the recession-hit region, leaving hopes for a recovery in the second half of the year intact.


Concerns over an inconclusive outcome in Italian elections at the end of the week added to the weaker sentiment as a fragmented parliament could hamper a future government's reform efforts.


The worries about the outlook for Italy were encouraging investors back into safe have German government bonds on Monday, with 10-year Bund yields easing 3.6 basis points to be around 1.63 percent.


"Political uncertainty will keep Bunds well bid this week," ING rate strategist Alessandro Giansanti said, adding that only better than expected economic data could create selling pressure on German debt near term.


EARNINGS HIT


European equity markets were taking their lead from corporate earnings reports which have been reflecting the sluggish economic conditions across the region.


Danish brewer Carlsberg , which generates just over 60 percent of its sales in western Europe, became the latest company to report a weaker-than-expected quarterly profit, sending its shares to lowest level in nearly a month.


The 5 percent drop in price for shares in the world's fourth biggest brewery helped send the FTSEurofirst 300 index <.fteu3> of top European shares down 0.4 percent in morning trade. Germany's DAX <.gdaxi>, the UK FTSE <.ftse> and France's CAC-40 <.fchi> were all also slightly weaker. <.l><.eu/>


Earlier, the effect of the G20 statement and the comments from Abe indicating a renewed drive to stimulate the economy lifted the Nikkei stock index <.n225> by 2.1 percent, near to its highest level since September 2008.


U.S. stock futures were barely changed and are expected to stay little changed as Wall Street will be closed on Monday for the Presidents' Day holiday. <.n/>


MSCI's world equity index <.miwd00000pus> was flat as markets extended two-week period of consolidation that has followed the big run up in January when demand was buoyed by the efforts of global central banks to stimulate the world economy.


Data from EPFR Global, a US-based firm that tracks the flows and allocations of funds globally, shows investors pulled $3.62 billion from U.S. stock funds in the latest week, the most in 10 weeks after taking a neutral stance the prior week.


But demand for emerging market equities remained strong, with investors putting $1.81 billion in new cash into stock funds, the fund-tracking firm said.


CHINA RETURN


In the commodity markets traders played catch up after a week-long holiday last week in China, the world's second biggest consumer of many raw materials, had kept activity subdued, with worries about the euro zone economy weighing on sentiment.


Copper, for which China is the world's largest consumer, fell 0.8 percent to $8,135 a metric ton (1.1023 tons) on the London futures market.


Gold rebounded by 0.3 percent from a six-month low to be $1,614 an ounce as jewelers in China returned to the physical market after the Lunar New Year holiday.


Crude oil markets were mostly steady after some weak U.S. industrial production data on Friday [ID:nL1N0BF44A] was seen dampening demand, while tensions in the Middle East lent some support.


U.S. crude fell 20 cents to $95.66 a barrel but Brent inched up two cents $117.86.


(Reporting by Richard Hubbard; editing by Philippa Fletcher)



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IHT Rendezvous: In Singapore's Immigration Debate, Sign of Asia's Slipping Middle Class?

BEIJING — Immigration is a hot-button issue nearly everywhere in the world, though the contours of the debate vary from place to place. In the United States, sweeping changes to the law may offer legal residency for millions of people who have entered the country illegally, my colleague Ashley Parker reports.

Here in Asia, in the nation of Singapore, the debate looks somewhat different: The government plans to increase the population from just over five million to a possible high of nearly seven million by 2030, via regulated, legal immigration. It’s provoking opposition.

So much so that on Saturday, about 3,000 people turned out for what some commentators said was one of the biggest demonstrations in the nation’s history. (If the number seems small, it reflects the tight political control exerted over Singapore life by the People’s Action Party, which has run the country for about half a century and discourages public protest.)

What are the contours of the debate in Singapore?

Concern over booming immigration, often focused on new arrivals from increasingly rich China, has been simmering in the nation, with many feeling that the immigrants don’t play by the same rules, that their manners are poor and that they are pushing up prices. That feeling crystallized last year when a wealthy Chinese man driving a Ferrari at high speed killed three people (including himself) in a nighttime accident.

(Similar sentiments are found in Hong Kong, as my colleagues Bettina Wassener and Gerry Mullany wrote.)

Vividly illustrating the resentment, Singaporeans sometimes call the wealthy immigrants “rich Chinese locusts,” according to an article in the Economic Observer’s Worldcrunch.

Less controversially, the article quoted Peng Hui, a professor of sociology at National Singapore University, as saying: “Singaporeans do not discriminate against the Chinese. On the contrary, they very much identify with their Chinese ancestry.” (Of course, rich Chinese are not the only new immigrants, but they are a major group, many commentators have pointed out.) “What the local people do not appreciate is the fact that Chinese people talk loudly in public, eat on the subway and like to squeeze through in a crowd or grab things,” Mr. Peng was quoted as saying.

So the Singapore government’s Population White Paper that passed in Parliament earlier this month, just before Chinese New Year, was bound to stir things up.

The government is presenting the rise in immigration as a target that is needed if Singapore, where immigrants already make up about 40 percent of the population, and which has the highest concentration of millionaires in the world, is to continue to flourish, reports said. Singaporeans just aren’t having enough children, said the prime minister, Lee Hsien Loong.

“In my view, in 2030, I think 6 million will not be enough to meet Singaporeans’ needs as our population ages because of this problem of the baby boomers and bulge of aging people,” Mr. Lee said in Parliament, adding that 6.9 million was not a target but a number to be used to help plan for infrastructure.

“Do we really need to increase our population by that much?” wrote a person called Chang Wei Meng in a letter to The Straits Times, according to Reuters. “What happened to achieving the Swiss standard of living?”

Gilbert Goh, a main organizer of the rally Saturday at Singapore’s Speaker’s Corner in a public park, said the protesters had a message: “They want to tell the government, please reconsider this policy. The turnout is a testimony that this policy is flawed and unpopular on the ground,” The Associated Press quoted Mr. Goh as saying.

Yet amid the familiar rhetoric about immigrants, heard around the world – they don’t fit in, they’re rude, they’re different – might something more important be going on here?

In a blog post on Singapore News Alternative, Nicole Seah, a politician who has run for Parliament and comments on social issues, wrote: “Along with many other Singaporeans, I oppose the White Paper.”

Why? She is looking for “a society that lives in harmony, rather than tense and overcrowded conditions,” she writes.

“Not the Singapore Inc. that has been aggressively forced down our throats the past few years – a Singapore which is in danger of becoming a transient state where people from all over, come, make their fortunes, and leave.”

Not “a Singapore that has become a playground for the rich and the people who can afford it. A Singapore where the middle class is increasingly drowned out because they do not have the social clout or sufficient representatives in Parliament to voice their concerns.”

Ms. Seah’s statements raise an interesting question: Is this part of a phenomenon that the columnist Chrystia Freeland has written about so ably for this newspaper, the ascendancy of a wealthy, “plutocrat” class and the slipping status of the middle class?

As Ms. Freeland wrote last week: “The most important fact about the United States in this century is that middle-class incomes are stagnating. The financial crisis has revealed an equally stark structural problem in much of Europe.” Is it hitting Asia, too, and does Singapore’s protest speak, at least in part, to this? Hong Kong’s dissatisfaction too?

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Beyoncé's Life Is But a Dream: The Best Moments















02/16/2013 at 11:05 PM EST



I am ... still singing!

Beyoncé's HBO documentary, Life Is But a Dream, aired Saturday night and it was a 90-minute whirlwind of music, dance and emotion. And though the singer, 31, has been everywhere recently (the Inauguration, the Super Bowl halftime show, Oprah's Next Chapter), the film was full of new and exciting moments. Here are my favorites:

Baby Bey: A home movie of Beyoncé as a little girl playing with bees made my jaw drop. The scene seems to prove what her fans believe: that she was born to be a superstar known as Queen B. I also loved seeing her singing – and being a typical, giggling teenager – with her sister Solange and Kelly Rowland.

The Heartbreak: From her frank discussion of firing her father as a manager to hearing "the saddest song" she's ever written after having miscarriage, the film – which Beyoncé produced and directed herself – had raw, emotional moments.

Mrs. Carter: Life is like a dream for Beyoncé and husband Jay-Z, who surprisingly shared intimate moments together – giddy over her pregnancy, singing Coldplay's "Yellow" to each other, enjoying solitude on a boat in an undisclosed, exotic location. You could feel the love when she toasted him on his birthday.

Blue Ivy: How cute is she?! When Beyoncé and Jay's baby girl, who turned 1 in January, appeared on the screen at the premiere of Life Is But a Dream at New York's Ziegfeld Theater, the crowd gasped and then let out a collective "aww." And I jammed my fingers on the TV screen the first time I watched, trying to pinch those cheeks. Seeing Beyoncé at home with a baby on her hip was a powerful reminder that the fierce superstar is human afterall.

The Music: Of course! Seeing her sing "Listen" with a gorgeously altered ending in a car convinced me of one thing: Beyoncé is definitely not human! I also loved seeing everything that went into her epic Billboard Music Awards performance of "Run the World (Girls)." I just wish I could do that dance. And is it me or does "Resentment" get grittier and angrier every time she performs it?

Praise Beysus and long live the Queen B!

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UN warns risk of hepatitis E in S. Sudan grows


GENEVA (AP) — The United Nations says an outbreak of hepatitis E has killed 111 refugees in camps in South Sudan since July, and has become endemic in the region.


U.N. refugee agency spokesman Adrian Edwards says the influx of people to the camps from neighboring Sudan is believed to be one of the factors in the rapid spread of the contagious, life-threatening inflammatory viral disease of the liver.


Edwards said Friday that the camps have been hit by 6,017 cases of hepatitis E, which is spread through contaminated food and water.


He says the largest number of cases and suspected cases is in the Yusuf Batil camp in Upper Nile state, which houses 37,229 refugees fleeing fighting between rebels and the Sudanese government.


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India Ink: Newswallah: Bharat Edition

Jammu and Kashmir: A week-long curfew in the Kashmir Valley that was imposed after the execution of the militant Muhammad Afzal was lifted Saturday, NDTV reported. Supporters of Mr. Afzal, who hailed from the Sopore town of Baramulla district, believed that he received an unfair trial for his role in the deadly Parliament attack case of 2001. Internet and television services have been restored in Kashmir after having been shut down, the report said.

Assam: At least 19 people died in violence during the civic polls in the state, India Today reported on Thursday. Chief Minister Tarun Gogoi admitted Wednesday to lapses by his government that led to the violence in some parts.  Thirteen people were killed when the security forces opened fire to control a mob that attacked polling officers in Goalpara district, the report noted.

Meghalaya: More than 100 of the 341 candidates who will be running in the upcoming state assembly polls own assets worth more than 10 million rupees, according to Meghalaya Election Watch, an independent organization, the Press Trust of India reported. The governing Congress party has fielded 35 such candidates and the two richest candidates are also from its ranks.

Gujarat: Prison officials at the Sabarmati Central Jail in Ahmedabad thwarted an attempted jailbreak last Sunday night, according to a Press Trust of India report on the NDTV Website. The attempted jailbreak comes as the trial of the 2008 Ahmedabad serial explosions is currently being conducted within the walls of the jail.  And 14 of the 68 accused in the case are lodged within the jail in a single barrack, where officials discovered that an 18-foot-long tunnel had been dug. The prison staff are suspected to have aided the jailbreak attempt, since work for the tunnel went undetected for 2 months, the report said.

Rajasthan: An MiF-27 aircraft of the Indian Air Force crashed in the Barmar district of Rajasthan on Tuesday, The Deccan Herald reported. While the plane crashed within minutes of takeoff from the Uttarlai base, there were no casualties and the pilot suffered only minor injuries.  A court of inquiry has been ordered to look into the crash, which was believed to have been caused by a technical defect.

Karnataka: The state got its new Lokayukta, or anti-corruption ombudsman, on Thursday, The Hindu reported. Y. Bhaskar Rao, the former chief justice of Karnataka State, filled the position that had been vacant for more than a year after his predecessor, Justice Shivraj V. Patil, was forced to resign following accusations of corruption in land deals.

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Molly Sims: I Nursed a Little Vampire!




Celebrity Baby Blog





02/15/2013 at 01:00 PM ET



Following the birth of her baby boy, Molly Sims was ready to sink her teeth into breastfeeding.


The only problem? Her son Brooks Alan had beaten her to it.


“Early on in the hospital, they really want you to breastfeed, so I’m trying everything,” the model mama, 39, shared during a Wednesday appearance on Anderson Live.


“And I’m like, ‘Gosh, this really, really hurts.’ And they’re like, ‘Oh, we know.’”


Determined to find the root of the pain, Sims went searching in her newborn’s mouth — and was shocked at her discovery.


“I’m like, ‘Is there any way a baby could be born with a tooth?’” she recalls. “And they went, ‘Oh sweetie, I know you’re a model, but … babies aren’t born with teeth!’”


She continues: “Come to find out, my baby was born with a tooth!”


Molly Sims Breastfeeding Anderson Live
Courtesy ANDERSON LIVE



Despite countless attempts to successfully nurse — “I did nipple shields, nipple guards, supplemental nursing system, it was horrible,” the new mom says — Sims eventually decided to call it quits.


“He was literally like a vampire on me for three months — it was unbelievable,” she says with a laugh. “Cut to I’m not breastfeeding and I’m proud of it.”


Now Brooks, 7 months, has moved on to other milestones — including crawling — and is already taking after his dad, Scott Stuber.


“He has the hairline of my husband. It’s like an Eddie Munster kind of hairline. It’s not so attractive, but [he'll] end up growing into it,” Sims says.


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