Wall Street edges up as bargain hunting offsets HP, France

NEW YORK (Reuters) – Stocks inched higher on Tuesday, reversing earlier declines after bargain hunters stepped in to buy beaten-down shares and offset the impact of Hewlett-Packard‘s accounting charge and France losing its triple-A credit rating.

The S&P 500 briefly dipped below its 200-day moving average at 1,382, but recovered to trade slightly above the key technical level, which is seen as a support mark.

Stocks rallied for the last two days on optimism that Washington politicians could agree on a deal to avoid the U.S. “fiscal cliff.” But the gains followed two weeks of sharp losses.

“We got into a very oversold condition on just about any indicator and then you had intraday reversals in just about all the indexes,” said Jeffrey Saut, Raymond James Financial‘s chief investment strategist in St. Petersburg, Florida.

Shares of McDonald’s shot up 1.3 percent to $ 86.11, leading the Dow industrials’ slim advance.

Moody’s Investors Service cut France’s sovereign rating by one notch to Aa1 after the market’s close on Monday, citing an uncertain fiscal outlook as a result of the weakening economy.

While the move was expected after Standard & Poor’s made a similar downgrade in January, it was a reminder of the headwinds buffeting the global economy and the danger of contagion by the euro zone’s debt crisis.

Hewlett-Packard Co shares tumbled 10.5 percent to a 10-year low at $ 11.91 as the computer and printer maker swung to a fourth-quarter loss. The company said it took an $ 8.8 billion charge related to its acquisition of software firm Autonomy, citing “serious accounting improprieties.

A bright spot for the economy came in data showing U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market’s recovery was gathering momentum. The PHLX housing sector index <.HGX> jumped 2.4 percent, led by PulteGroup Inc , up 4.8 percent at $ 16.67.

The Dow Jones industrial average <.DJI> was up 10.34 points, or 0.08 percent, at 12,806.30. The Standard & Poor’s 500 Index <.SPX> was up 2.17 points, or 0.16 percent, at 1,389.06. The Nasdaq Composite Index <.IXIC> was up 3.41 points, or 0.12 percent, at 2,913.48.

The S&P 500 index had fallen 5.3 percent between election day two weeks ago and the start of the rebound as angst over a possible U.S. budget deal drove investors to sell stocks and limit the impact of expected tax increases on capital gains and dividends.

President Barack Obama and congressional leaders hope to start serious negotiations after the Thanksgiving holiday on Thursday to avoid the “fiscal cliff,” a series of mandatory tax hikes and spending cuts that would go into effect early next year – if a deal is not reached – and could push the U.S. economy back into recession.

(Additional reporting by Chuck Mikolajczak Editing by W Simon, Kenneth Barry and Jan Paschal)

Business News Headlines – Yahoo! News

Read More..

U.S. fiscal impact of great concern to Canada: Canada’s Harper

TORONTO (Reuters) – Any fiscal problems that would significantly slow the U.S. economy would be of great concern to Canada, Canadian Prime Minister Stephen Harper said on Monday.

The United States needed a credible medium-term fiscal plan, Harper said at a business forum in Ottawa, adding that he was following the U.S. fiscal debate with “great interest.”

(Reporting by Solarina Ho)

Canada News Headlines – Yahoo! News

Read More..

In Mark Cuban’s Humble Opinion, Facebook Still Kinda Sucks

Dallas Mavericks owner and billionaire Mark Cuban has confirmed reports from last week, in a post on his personal blog today, that he has a serious beef with Facebook. But before getting into all the reasons he no longer loves the social network, he clarifies one small point: “First, I’m not recommending to any of my companies that we leave facebook,” he writes. Last week ReadWriteWeb’s Dan Lyons kind of made it seem like Cuban planned to pull out altogether because of the way Facebook’s algorithm has affected the way people see his brands’s posts. The algorithm, Edgerank, controls brand posts so that not all fans are forced to see each one in their news feeds. Because of this, he quoted Cuban saying “We are moving far more aggressively into Twitter and reducing any and all emphasis on Facebook.” And later he had him talking about all the reasons he finds it horrible for businesses. Like, mainly, that it’s too expensive, a point that GigaOm’s Mathew Ingram called naive. “Really? That surprises you? What else did you think Facebook was going to do when it gave you a giant social platform for nothing?” Cuban now explains that he isn’t bailing on Facebook, just de-emphasizing it in favor of other Internet places, like Tumblr and Twitter. But, that does not mean that he does not hate Facebook as much as everyone has been saying he hates Facebook. He does.

RELATED: Shafted Facebook Founder Is Living Like a Kardashian in Singapore

You can read the laundry list of reasons over at his personal blog, but some highlights include:

RELATED: Eduardo Saverin May Be Barred from Returning to the U.S. After Renouncing Citizenship

• Its a time waster … FB doesn’t seem to want to accept that it’s best purpose in life is as a huge time suck. 


• IMHO, FB really risks screwing up something that is special in our lives as a time waster by thinking they have to make it more engaging and efficient.


• So by default you are not going to use your newsfeed as a primary source of information. It’s more like the township newspaper


• I also think that FB is making a big mistake by trying to play games with their original mission of connecting the world.  FB is a fascinating destination that is an amazing alternative to boredom which excels in its SIMPLICITY.  One of the threats in any business is that you outsmart yourself. FB has to be careful of just that.

Basically Mark Cuban thinks Facebook should stop trying to make money and stop trying to get too smart, which might work in the favor of Cuban who doesn’t want to spend too much money on something silly like social media. But,this doesn’t sound too appealing to Facebook, which as a public company needs to make money. Unless more join his cause, which could maybe happen. At least the Miami blog the 305 agrees with him. Anyone else? 

Social Media News Headlines – Yahoo! News

Read More..

Pre-ski fitness can protect against post-ski problems

NEW YORK (Reuters) – Skiing is a such a skill-based activity that if you don’t start learning until you are 20, it will take 20 years to learn.

But fitness experts say proper conditioning can make the difference between a fun weekend on the slopes and one waylaid by injury.

“Skiing first is technique,” said Robert Forster, a Los Angeles-based physical therapist and founder of Phase IV Scientific Health and Performance Center. “If your quads (muscles) are just burning up on the runs, then you’re not skiing right. That’s a good sign that you might need a lesson.”

To minimize fatigue and risk of injury, Forster, physical therapist to 42 Olympic medalists, suggests getting in ski-shape before hitting the slopes.

“All fitness begins with an aerobic base,” he said. “So six weeks before, start training with an elliptical trainer or stationary bike, or running or walking. Build up to 20 to 30 minutes three times a week.”

Aerobic training also strengthens muscles, Forster said, so any subsequent agility drills, such as running sideways or skipping, will be even more effective if you’ve established an aerobic base.

Stretch before skiing to protect against injury and enhance freedom of motion; stretch afterward to return the muscles to their normal length, said Forster.

He calls stretching the single most important thing people can do for body health maintenance.

“Connective tissue shortens with time,” he explained. “We stretch to maintain good alignment of the bones.”

If your skiing holiday lasts a week, limit your time on the slopes the first day, Forster suggests. And reconsider that dehydrating après-ski cocktail.

“We know that a glass of wine and a hot tub is not a good idea. Heat adds to inflammation. It will only increase swelling the next day,” he said.

Save that soak for the morning, and then not more than five minutes.

Ice down any sore spots or tight areas. “Ice is a great treatment for tightness,” he said.

Jessica Matthews, an exercise physiologist with the American Council on Exercise, suggests that even those already in good condition would benefit by integrating sports-specific pre-ski training into their workout.

“Prepare the body to move in short bursts,” said Matthews, who notes that skiing demands carving back and forth, rapid turns and sudden changes of direction.

She said it’s easy to set up fitness drills using plastic cones, which can be had at any sporting goods store.

“There’s great stuff you can do with cones,” she said. “Those newer to fitness can begin with stepovers, laterally, side to side. Those more seasoned can make them hops, or invent more intricate drills.”

For those who prefer to train in groups, the fitness company Equinox recently launched a class at its clubs called Core Values, which uses low parallel bars, called parallettes, and medicine balls to enhance mobility and stability skills.

“It’s geared to help sports people get in condition for their sport,” said Lisa Wheeler, who created the class to train across all ranges of motion.

“Even downhill, skiing is about rotation,” said Wheeler, an experienced skier. “Most people scoop right and left as they are going downhill.”

Falls account for 75 to 85 percent of all skiing injuries, according to the American College of Sports Medicine. Most common is damage to the knee.

Forster said even though more runners than skiers are injured every year, ski injuries tend to be more serious.

“Skiing has much more traumatic injuries that can have long-lasting effects,” he explained.

The National Areas Association, the trade association for ski area owners and operators, said U.S. ski areas tallied an estimated 51 million skier and snowboarder visits during the 2011-2012 season.

Forster advises skiers to assess themselves and the slopes before diving down the mountain.

“Is there fresh snow? Heavy, wet snow?” he said. “Be aware of conditions. Fatigue is a big factor. If I had a dollar for every client who got hurt on the last run …”

(Editing by Patricia Reaney and John Wallace)

Health News Headlines – Yahoo! News

Read More..

Infographic: California’s Katrina?

The scenario is known as “California’s Katrina.” An earthquake or superstorm causes Gold Rush-era earthen levees to collapse. Saltwater from San Francisco Bay floods the Sacramento-San Joaquin River Delta, displacing half a million lowland Californians, poisoning the water supply for as many as 28 million more who live in Los Angeles, San Diego, and Silicon Valley, and ruining farmland that produces 11 percent of the nation’s agricultural value. The eighth-largest economy in the world could be sunk for months, even years.

There are two competing proposals to avert all this. The first is to bypass the delta with tunnels carrying fresh water to Southern California. The second is to upgrade the existing levees. A bill that would have required an official cost-benefit analysis of these approaches got shot down in the state legislature. Civil engineers at University of California at Davis don’t think the levees can be earthquake-proofed. Delta landowners, fearful the levees will no longer be maintained if the tunnels were built, have refused surveyors access to their land.

In this fight, if someone doesn’t win, everyone will lose.

Businessweek.com — Top News

Read More..

Canada pledges again to balance budget by 2015

OTTAWA/NEW YORK (Reuters) – The Canadian government on Friday reiterated its intention to balance its budget by 2015, three days after projecting there would be deficits until 2016-17.

In separate appearances in Quebec City and New York, Prime Minister Stephen Harper and Finance Minister Jim Flaherty were at pains to say they still intended to end the red ink by 2015.

“It remains the government’s plan, intention, to balance the budget prior to the next federal election. The recent economic and fiscal update by the minister indicates we are actually very close to that objective,” Harper told reporters in Quebec City. The next election is in October 2015.

Flaherty’s fall fiscal update on Tuesday had pushed back the target date for eliminating the deficit by a year, to 2016-17, citing a weak global economy.

But the minister said in a speech in New York that the government was on track to balance the budget in the next two to three years, barring major external events, and he later clarified that he intended a balanced budget by 2015.

“The prime minister’s always correct,” he chuckled.

He sought to explain the discrepancy by saying the fiscal update had built in a C$ 3 billion ($ 3 billion) contingency cushion, meaning there was an underlying surplus of C$ 1.2 billion for 2015-16. He said the projection of a C$ 1.8 billion deficit amounted to about half a percent of the C$ 275 billion federal budget.

“There’s lots of water to go under the bridge between now and then,” he said.

The opposition New Democratic Party noted the discrepancy in a release headlined: “Stephen Harper makes stuff up about balancing the budget.”

It pointed out that balancing the budget by the next election was not the same as balancing it by 2016-17.

As it is, even the 2015-16 timetable is a year later than offered in the Conservative campaign for reelection in May 2011. They had promised a balanced budget by 2014-15, followed by major personal income tax relief before the 2015 election.

Flaherty’s timetable drew criticism this week from the Canadian Taxpayers Federation, which said the minister had become expert at kicking the can down the road.

The projections could be thrown out of whack if the United States goes off the fiscal cliff, a set of automatic tax hikes and spending cuts that are to be triggered on January 2 if legislators and the White House cannot agree on a more nuanced budget deal.

Flaherty said U.S. failure to avert the fiscal cliff would cause a significant and immediate decline in Canada’s gross domestic product, and he would counter it.

Referring to a possible economic shock from Europe or the United States, he said: “If that were to happen and if the Canadian economy were to be pushed back into recession with the resulting danger for higher unemployment and the danger always of a prolonged recession, then we would act.”

He added: “We would not stand by and let that happen. The kinds of measure we can take: there are various tax measures we can take, there are measures with respect to stimulus we can take, these are things that we have done before and we can do again.”

On Tuesday, Flaherty spoke of having prepared various contingency plans.

(Additional reporting by Louse Egan; Editing by David Gregorio)

Canada News Headlines – Yahoo! News

Read More..

Summary: A look at the 4 new Kindle Fire models

Amazon.com Inc. started shipping a large-screen version of its Kindle Fire tablet computer on Thursday, ahead of schedule. Here is a look at the new Fires announced in September:

— Kindle Fire, with 7-inch screen, 1024 by 600 pixels. $ 159, with 8 gigabytes of storage. Weighs 14.1 ounces. Battery life of 8.5 hours. Started shipping Sept. 14.

— Kindle Fire HD, with 7-inch screen, 1280 by 800 pixels. $ 199 with 16 GB of storage or $ 249 with 32 GB of storage. Weighs 13.9 ounces. Battery life of 11 hours. Started shipping Sept. 14.

— Kindle Fire HD 8.9″, with 8.9-inch screen, 1920 by 1200 pixels. $ 299 with 16 GB of storage or $ 369 with 32 GB of storage. Weighs 20 ounces. Battery life of 10 hours. Started shipping Thursday.

— Kindle Fire HD 8.9″ 4G LTE Wireless, with 8.9-inch screen, 1920 by 1200 pixels. $ 499 with 32 GB of storage or $ 599 with 64 GB of storage. Can connect to AT&T Inc.‘s 4G LTE wireless network. Weighs 20 ounces. Battery life of 10 hours. Will start shipping Tuesday.

Gadgets News Headlines – Yahoo! News

Read More..

‘Twilight’ finale dawns with $141.3M weekend

LOS ANGELES (AP) — The sun has set on the “Twilight” franchise with one last blockbuster opening for the supernatural romance.

“The Twilight Saga: Breaking Dawn — Part 2″ sucked up $ 141.3 million domestically over opening weekend and $ 199.6 million more overseas for a worldwide debut of $ 340.9 million.

The finale ranks eighth on the list of all-time domestic debuts, and leaves “Twilight” with three of the top-10 openings, joining 2009′s “New Moon” (No. 7 with $ 142.8 million) and last year’s “Breaking Dawn — Part 1″ (No. 9 with $ 138.1 million).

Last May’s “The Avengers” is No. 1 with $ 207.4 million. “Batman” is the only other franchise with more than one top-10 opening: last July’s “The Dark Knight Rises” (No. 3 with $ 160.9 million) and 2008′s “The Dark Knight” (No. 4 with $ 158.4 million).

Entertainment News Headlines – Yahoo! News

Read More..

China approves Land Rover deal

18 November 2012 Last updated at 07:39 ET

Jaguar Land Rover is to make vehicles in China for the first time after Beijing approved a £1bn joint venture.

The West Midlands-based luxury carmaker agreed a “milestone” deal with Chery Automobile and will build a plant near Shanghai, which is due to open in 2015.

JLR said any cars produced would be in addition to its existing output, and it had no intention of moving its manufacturing base out of Britain.

Sales of JLR models in China have risen by 80% so far this year.

The company, owned by India’s Tata Motors, began talks with Chery months ago, but had been awaiting approval.

A joint statement released by the Chinese and British companies said: “We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast-growing Chinese market.

“Together, we will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers.”

JLR has not said officially which model would be built at the factory, although the company has said in the past that is likely to be either the Land Rover Freelander or Evoque.

A research and development facility and engine production plant will also built as part of the venture, with the main manufacturing plant expected to be completed during 2014, with production starting the following year.

With China now a crucial market for JLR, building vehicles in the country means it can avoid import duties.

However, JLR says that being in China will enable it to build vehicles designed specifically for the Chinese market.

BBC News – Business

Read More..

Honey Boo Boo Gets Trashy and Some Really Cute Dumb Ways to Die

We realize there’s only so much time one can spend in a day watching new trailers, viral video clips, and shaky cell phone footage of people arguing on live television. This is why every day The Atlantic Wire highlights the videos that truly earn your five minutes (or less) of attention. Today:

RELATED: Catching Kangaroos Seems Pretty Easy; ‘The Dark Knight’ Goes Pee-wee

So, we’re not quite sure what kind of spirit moved artist Jason Mecier to create a Honey Boo Boo portrait from 25 pounds of trash. But it did. And we’re thankful (sort of?): 

RELATED: Dating Is Just So Depressing

RELATED: A Dubstep Birthday for Michael Jackson and One Soggy Koala

And thank god for YouTube. Besides going to America’s shopping malls, how else would we find terrible parents and gullible children? And how else would we know that we were entertained by these fascinating creatures? 

RELATED: Ai Weiwei’s ‘Gangnam Style’ Isn’t Bad

RELATED: ‘What Makes You Beautiful’ Gets Beautiful

Now that the Dark Knight trilogy is over, aren’t you in the mood for something lighter? Another prequel? How about a fan-made video (which we’re guessing took hours and hours and footage from the 90s and beyond) which imagines all Dark Knight‘s characters in high school?

OMGosh Melbourne Metro this is like the cutest video on earth! You guys are adorable, like we’re talking totes adorable squeeeee—Oh wait. We take that back. We take all of it back. 

Wireless News Headlines – Yahoo! News

Read More..