Pakistan militants kill 41 in mass execution, attack on Shi’ites






PESHWAR, Pakistan (Reuters) – Pakistani militants, who have escalated attacks in recent weeks, killed at least 41 people in two separate incidents, officials said on Sunday, challenging assertions that military offensives have broken the back of hardline Islamist groups.


The United States has long pressured nuclear-armed ally Pakistan to crack down harder on both homegrown militants groups such as the Taliban and others which are based on its soil and attack Western forces in Afghanistan.






In the north, 21 men working for a government-backed paramilitary force were executed overnight after they were kidnapped last week, a provincial official said.


Twenty Shi’ite pilgrims died and 24 were wounded, meanwhile, when a car bomb targeted their bus convoy as it headed toward the Iranian border in the southwest, a doctor said.


New York-based Human Rights Watch has noted more than 320 Shias killed this year in Pakistan and said attacks were on the rise. It said the government’s failure to catch or prosecute attackers suggested it was “indifferent” to the killings.


Pakistan, seen as critical to U.S. efforts to stabilize the region before NATO forces withdraw from Afghanistan by the end of 2014, denies allegations that it supports militant groups like the Afghan Taliban and Haqqani network.


Afghan officials say Pakistan seems more genuine than ever about promoting peace in Afghanistan.


At home, it faces a variety of highly lethal militant groups that carry out suicide bombings, attack police and military facilities and launch sectarian attacks like the one on the bus in the southwest.


Witnesses said a blast targeted their three buses as they were overtaking a car about 60 km (35 miles) west of Quetta, capital of sparsely populated Baluchistan province.


“The bus next to us caught on fire immediately,” said pilgrim Hussein Ali, 60. “We tried to save our companions, but were driven back by the intensity of the heat.”


Twenty people had been killed and 24 wounded, said an official at Mastung district hospital.


CONCERN OVER EXTREMIST SUNNI GROUPS


International attention has focused on al Qaeda and the Pakistani Taliban.


But Pakistani intelligence officials say extremist Sunni groups, lead by Lashkar-e-Jhangvi (LeJ) are emerging as a major destabilizing force in a campaign designed to topple the government.


Their strategy now, the officials say, is to carry out attacks on Shi’ites to create the kind of sectarian tensions that pushed countries like Iraq to the brink of civil war.


As elections scheduled for next year approach, Pakistanis will be asking what sort of progress their leaders have made in the fight against militancy and a host of other issues, such as poverty, official corruption and chronic power cuts.


Pakistan’s Taliban have carried out a series of recent bold attacks, as military officials point to what they say is a power struggle in the group’s leadership revolving around whether it should ease attacks on the Pakistani state and join groups fighting U.S.-led forces in Afghanistan.


The Taliban denies a rift exists among its leaders.


In the attack in the northwest, officials said they had found the bodies of 21 men kidnapped from their checkpoints outside the provincial capital of Peshawar on Thursday. The men were executed one by one.


“They were tied up and blindfolded,” Naveed Anwar, a senior administration official, said by telephone.


“They were lined up and shot in the head,” said Habibullah Arif, another local official, also by telephone.


One man was shot and seriously wounded but survived, the officials said. He was in critical condition and being treated at a local hospital. Another had escaped before the shootings.


Taliban spokesman Ihsanullah Ihsan claimed responsibility for the attacks.


“We killed all the kidnapped men after a council of senior clerics gave a verdict for their execution. We didn’t make any demand for their release because we don’t spare any prisoners who are caught during fighting,” he said.


The powerful military has clawed back territory from the Taliban, but the kidnap and executions underline the insurgents’ ability to mount high-profile, deadly attacks in major cities.


This month, suicide bombers attacked Peshawar’s airport on December 15 and a bomb killed a senior Pashtun nationalist politician and eight other people at a rally on December 22.


(Additional reporting by Saud Mehsud in DERA ISMAIL KHAN and Gul Yousufzai in QUETTA; Writing by Katharine Houreld; Editing by Michael Georgy and Ron Popeski)


World News Headlines – Yahoo! News





Title Post: Pakistan militants kill 41 in mass execution, attack on Shi’ites
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

The Boy Genius Report: The Wii U is Nintendo’s last console






I remember it still — people flipped out about the Nintendo (NTDOY) Wii. Yes, its name was mocked for a while, but there was genuine excitement around what Nintendo was doing with motion and the entire gameplay experience. While the original Nintendo Wii was almost an Apple (AAPL)-like product — Nintendo focused on the gameplay and not on specs; the company didn’t even have HD graphics when every other console did — the Nintendo Wii U clearly demonstrates how far Nintendo has fallen and how out of touch the company is.


[More from BGR: Samsung could face $ 15 billion fine for trying to ban iPhone, other Apple devices]






I bought a Nintendo Wii U for one reason and one reason only, and that’s to play and beat “Super Mario Bros. U.” I’ll probably end up returning the console after I’m done, because that’s how horrible the Wii U actually is.


[More from BGR: Five-year-old finds porn on refurbished Nintendo 3DS from GameStop]


First of all, the fact that Nintendo actually decided to ship this joke of a controller called the GamePad with a 6.2-inch touchscreen in the middle says it all. It only lasted for around two hours per charge over the week I’ve used it, and it’s big, clunky and made of glossy Nintendo plastic. The problem it, it has no charm. It feels thrown together to try to make a statement, one that says that Nintendo isn’t afraid of the iPads or Android tablets or iPhones or iPod touches, and that it too can take on touch just as it took on motion.


It fails miserably. And that’s just the controller.


The actual console is one that finally for the first time ever supports HDMI and HD graphics, yet Nintendo’s flagship game doesn’t look good in high-definition. The console’s UI is a mess, and let’s be honest, we are living in a time where we are so connected, where so much is shared across continents instantly, that real design transcends what country it was designed in.


When you see a beautiful iPhone app’s interface, there’s a good chance you couldn’t tell if it was designed by a company in San Francisco or Paris or Hong Kong. But Nintendo’s interface is blatantly Japanese, and it lacks any and all sophistication. It’s like all of Nintendo’s designers just gave up and are living in a time when Apple’s iOS devices and Google’s (GOOG) Android devices don’t exist, blissfully ignoring the threat that their company is facing from all angles.


The Wii U experience is so terrible that it took over an hour to update the software on the console recently, and apparently that wasn’t that bad. People have told me their updates took over 4 hours when performed closer to Christmas. Do you know what that 7-year-old is doing during those 4 hours you’re making him wait? Playing Temple Run or Angry Birds on his iPad mini. Way to go Nintendo.


I’ll go on record and say that I think this is the last video game console Nintendo will make for the home. I just don’t see the future here with hardware. Not by a mile.


Nintendo needs to realize that hardware is hardware and that Nintendo’s hardware isn’t special, it isn’t elegant and it isn’t thoughtful. It’s merely a delivery mechanism in a time where design has never been more important.


Nintendo is a great company, one that has invented so many great products, but sooner or later it will be forced to offer its titles on iOS devices and Android devices. It’s going to get to that point. There’s way too much revenue to be made — Nintendo isn’t Sega, and Sega is crushing it as a software-only company.


I just hope Nintendo follows suit sooner or later, because I have $ 9.99 ready to go for the Super Mario app on iOS.


This article was originally published by BGR


Gaming News Headlines – Yahoo! News





Title Post: The Boy Genius Report: The Wii U is Nintendo’s last console
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Analysis: After “fiscal cliff” dive, more battles, new cliffs






WASHINGTON (Reuters) – Whether or not the “fiscal cliff” impasse is broken before the New Year’s Eve deadline, there will be no post-cliff peace in Washington.


With the political climate toxic in Congress as the cliff’s steep tax hikes and spending cuts approach, other partisan fights loom, all over the issue that has paralyzed the capital for the past two years: federal spending.






The first will come in late February when the Treasury Department runs out of borrowing authority and has to come to Congress to get the debt ceiling raised.


The next is likely in late March, when a temporary bill to fund the government runs out, confronting Congress with a deadline to act or face a government shutdown. The third will possibly be whenever the temporary bill replacing the temporary bill expires.


While Congress is supposed to pass annual spending bills before the start of each fiscal year, it has failed to complete that process since 1996, resorting to stopgap funding ever since.


Influential anti-tax activist Grover Norquist predicted in an interview with Reuters that conservatives would wage repeated battles with President Barack Obama to demand budget savings every time the government needs a temporary funding bill or more borrowing capacity.


The so-called “continuing resolutions” to which a divided Congress has increasingly resorted to keep the government operating, provide a “very powerful tool” to pry out spending cuts, said Norquist, president of Americans for Tax Reform.


Republican Senator Bob Corker of Tennessee said he will not be satisfied until there are substantial cuts to federal retirement and healthcare benefits known as entitlements, producing savings in the $ 4.5 trillion to $ 5 trillion range.


“Unfortunately for America,” said Corker, “the next line in the sand will be the debt ceiling.”


Most observers see the $ 16.4 trillion debt limit as the true fiscal cliff in the new year because if not increased, it would eventually lead to a default on U.S. Treasury debt, an event that could prove cataclysmic for financial markets.


The Treasury Department said on Wednesday it would start taking extraordinary measures by December 31 to extend its borrowing capacity for about two more months.


‘POISONOUS CLIMATE’


It was a deadlock over raising the debt ceiling in August 2011 that prompted a deficit reduction deal that led to a key fiscal cliff component, the $ 109 billion in automatic spending cuts on military and domestic programs.


If the fiscal cliff’s spending cuts or tax increases are left even partly unresolved on December 31, the political combat over them will carry over into the new Congress, possibly simultaneously with the debt ceiling debate.


“We would be pessimistic of a quick fix” if the deadline is missed, Sean West, head U.S. analyst at Eurasia Group, a political risk consultancy, said in a note to clients. “The political climate will be poisoned. The new Congress will need time to settle in.”


“We are concluding one of the most unsuccessful Congresses in history,” Democratic Representative John Dingell of Michigan declared in a statement on Saturday, “noteworthy not only for its failure to accomplish anything of importance, but also for the poisonous climate of the institution.”


Dingell, 86, is the longest serving member of the House, elected first in 1955.


Historically, bitter struggles in Congress like that over the fiscal cliff lead to further resentment and strife in a cycle of cumulative grudges that now spans nearly 30 years.


Many analysts and lobbyists in Washington believe the strife could get even worse because the new Congress convening on January 3 will include fewer members from moderate or swing districts and more from districts tilted heavily to the left or the right.


Republicans in particular are likely to face their most serious re-election challenges in 2014 not from Democrats but from conservative Republicans challenging them in primary elections.


“Ironically,” said a post-election analysis published by the law firm Patton Boggs, “the voters have elected a 113th Congress that may be even more partisan than the 112th.”


(Reporting by David Lawder and Fred Barbash; Editing by Eric Beech)


Health News Headlines – Yahoo! News





Title Post: Analysis: After “fiscal cliff” dive, more battles, new cliffs
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Berlusconi says Monti plotting with Italy’s center left






ROME/MILAN (Reuters) – Silvio Berlusconi said on Saturday that outgoing Prime Minister Mario Monti was plotting with the left in his centrist alliance’s bid to win Italy‘s national election in February, but centrist leaders denied any secret accord.


Monti, who replaced Berlusconi as prime minister last year when Italy was scrambling to avert a financial crisis, said on Friday he wanted to unite a broad coalition of factions around a reform agenda aimed at easing the country’s economic woes.






Monti ended weeks of speculation when he confirmed his bid for a second term, pitting him against the center-left Democratic Party (PD) and Berlusconi’s center-right People of Freedom (PDL) party in a three-way contest.


Speaking to reporters at Milan Central railway station, Berlusconi said Monti wanted to help the left secure power after the February 24-25 election so he could continue his austerity agenda of tax hikes and spending cuts.


“This grouping has been formed to favor the left – also the similarities with the left’s programme points in this direction,” he said, after earlier describing Monti as “the spare wheel” of the PD in an interview with Vista TV.


The 76-year-old billionaire, who caught the train from Rome with his 27-year-old partner, Francesca Pascale, said he did not believe Italian voters would “fall into the trap”, which he said was aimed at stealing votes from the center right.


But Pier Ferdinando Casini, head of Italy’s oldest and largest centrist party, the UDC, which is cooperating with Monti, denied the accusations.


“Our initiative was not born with the support of the PD. It has not been started with a predetermined alliance … until election day what’s important is aiming for the majority,” Casini said at a news conference on Saturday.


“PHASE OF RESPONSIBILITY”


Opinion polls suggest the PD, under Pier Luigi Bersani, will win a comfortable lower house majority but may have to strike a deal with centrist forces in the Senate, where the center left has struggled to gain control in past elections.


The PD, which has pledged to maintain Monti’s broad reform course while putting more emphasis on jobs and growth, has urged the 69-year-old technocrat to clarify the approach the centrist forces will take towards the left.


“Will they present themselves as alternatives, as rivals, or as open to an alliance?” Bersani asked on SkyTG24 television on Friday, saying that the center left would be open to discuss an accord when Monti’s position is clear.


Monti, a former European Commissioner, is a favorite with international investors, the Catholic Church and the business establishment, and has been widely credited with restoring Italy’s credibility after the scandal-plagued Berlusconi years.


“For the first time, an atmosphere is forming that points towards the future for a Europe that needs Italy and a country that wants to change deeply,” centrist leader Casini said on Saturday.


“As of yesterday, we are putting behind us the empty electoral promises, populism, demagoguery, fake assurances; a phase of responsibility is beginning,” he said.


Also on Saturday, Italian magistrate Antonio Ingroia officially announced he was joining the election race, and backers of his anti-corruption, law-and-order platform said it was time for both Monti and Berlusconi to step aside.


“We can’t give them back the keys to the country,” said Felice Belisario from the opposition Italy of Values party, which said it supported Ingroia’s candidacy for prime minister.


“Both have ruined Italy and have only acted in the interests of themselves and their friends at the expense of Italian citizens,” Belisario said in a statement.


The PD has so far maintained a tone of polite respect for Monti, in contrast to Berlusconi’s attacks on his “Germano-centric” austerity policies, which he blames for deepening a severe recession and fuelling record unemployment.


The media tycoon said on Saturday he was disappointed that Monti had made a bid for a second term because the economics professor had told him he would not use the exposure gained as an unelected technocrat for future political motives.


He said if the center-right won the election he would launch an investigation into Monti’s ascent to power.


Later on Saturday Berlusconi met leaders of the Northern League, his former government allies. He told reporters following the meeting that he remained hopeful for a possible alliance but the PDL was still not convinced on some points.


PDL secretary Angelino Alfano said on Twitter that the disagreements could lead to the PDL and the Northern League heading their separate ways at the next election.


(Editing by Louise Ireland)


Economy News Headlines – Yahoo! News





Title Post: Berlusconi says Monti plotting with Italy’s center left
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Arab League chief says Palestinians to petition UN






RAMALLAH, West Bank (AP) — Arab League chief Nabil Elaraby says two decades of talks with Israel have been “a waste of time” and that Palestinians will soon take a new statehood bid to the U.N.


“We will return to the U.N. Security Council,” he said in Ramallah Saturday after meeting Palestinian officials. “Palestine will be cooperating with Arab and EU countries to change the equation (in the peace process) that prevailed over the past 20 years, which was a waste of time.”






The U.N. last month endorsed a de facto Palestinian state in the West Bank, east Jerusalem and Gaza, areas Israel won in a 1967 war.


Talks collapsed in 2008 after Palestinians demanded Israel stop building in areas they want for a future state. Israel insists settlements and other issues should be negotiated.


Middle East News Headlines – Yahoo! News





Title Post: Arab League chief says Palestinians to petition UN
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Makers of $99 Android-Powered Game Console Ship First 1,200 ‘Ouyas’






Like Nintendo’s Wii U game console, the Ouya (that’s “OOH-yuh”) has an unusual name and even more unusual hardware. The console is roughly the size of a Rubik’s cube, and is powered by Android, Google‘s open-source operating system that’s normally found on smartphones and tablets.


Ouya’s makers, who are preparing the console for its commercial launch, encourage interested gamers to pop the case open and use it in electronics projects … or even to write their own games for it. Especially if they’re among the 1,200 who are about to receive their own clear plastic Ouya developer consoles.






Not exactly a finished product


The limited-edition consoles, which have been shipped out to developers already, are not designed for playing games on. They don’t even come with any.


Rather, the point of these consoles is so that interested Android developers can write games for the Ouya, which will then be released to gamers when the console launches to the public. Fans who pledged at least $ 1,337 to Ouya’s record-breaking Kickstarter project will get one, and while they’re not quite suited for playing games on — “we know the D-pad and triggers on the controller still need work,” Ouya’s makers say — the clear plastic developer consoles serve as a preview of what the finished product will look like, and a reminder of Ouya’s “openness.”


You keep using that word …


In the food and drug industries, terms like “organic” and “all-natural” are regulated so that only products which meet the criteria can have them on their labels. In the tech world, however, anyone can claim that their product is “open,” for whatever definition of “open” they like.


The term was popularized by the world’s rapid adoption of open-source software, like Android itself, where you’re legally entitled to a copy of the programming code and can normally use it in your own projects (like Ouya’s makers did). But when tech companies say that something is “open,” they don’t necessarily mean that the code or the hardware schematics use an open-source license.


How Ouya is “open”


Ouya’s makers have released their ODK, or developer kit, under the same open-source license as Android itself. This allows aspiring game developers to practice their skills even without a developer console, and to improve the kit however they want. The hardware itself is currently a “closed” design, however, despite the clear plastic case. The makers have expressed enthusiasm for the idea of hardware hackers using it in projects, and have said, “We’ll even publish the hardware design if people want it,” but so far they haven’t done so.


What about the games?


The most relevant aspect of “openness” to normal gamers is that Ouya’s makers say “any developer can publish a game.” This model is unusual for the console world, where only select studios are allowed to publish their wares on (for instance) the PlayStation Network, but is more familiar to fans of the anything-goes Google Play store for Android. Several big-name Android developers — including console game titan Square-Enix — have already signed up to have their wares on the Ouya.


Preordered Ouya game consoles (the normal ones, not the developer edition) will ship in April. They will cost $ 99 once sales are opened to the general public.


Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Linux/Open Source News Headlines – Yahoo! News





Title Post: Makers of $99 Android-Powered Game Console Ship First 1,200 ‘Ouyas’
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Senate leaders to make last-ditch “fiscal cliff” effort






WASHINGTON (Reuters) – President Barack Obama and U.S. congressional leaders agreed on Friday to make a final effort to prevent the United States from going over the “fiscal cliff,” setting off intense bargaining over Americans’ tax rates as a New Year’s Eve deadline looms.


With only days left to avoid steep tax hikes and spending cuts that could cause a recession, two Senate veterans will try to forge a deal that has eluded the White House and Congress for months.






Obama said he was “modestly optimistic” an agreement could be found. But neither side appeared to give much ground at a White House meeting of congressional leaders on Friday.


What they did agree on was to task Harry Reid, the Democratic Senate majority leader, and Mitch McConnell, who heads the chamber’s Republican minority, with reaching a budget agreement by Sunday at the latest.


“The hour for immediate action is here. It is now. We’re now at the point where in just four days, every American’s tax rates are scheduled to go up by law. Every American’s paycheck will get considerably smaller. And that would be the wrong thing to do,” Obama told reporters.


A total of $ 600 billion in tax hikes and automatic cuts to government spending will start kicking in on Tuesday – New Year’s Day – if politicians cannot reach a deal. Economists fear the measures will push the U.S. economy into a recession.


Pessimism about the fiscal cliff helped push U.S. stocks down on Friday for a fifth straight day. The Dow Jones industrial average dropped 158.20 points, or 1.21 percent. Retailers are blaming worries about the “fiscal cliff” for lackluster Christmas season shopping.


Under the plan hashed out on Friday, any agreement between McConnell and Reid would be backed by the Senate and then approved in the Republican-controlled House of Representatives before the end of the year.


But the House could well be the graveyard of any accord.


A core of fiscal conservatives there strongly opposes Obama’s efforts to raise taxes for the wealthiest as part of a plan to close America’s budget deficit. House Republicans also want to see Obama commit to major spending cuts.


Talks between Obama and Republican House Speaker John Boehner collapsed last week when several dozen Republicans defied their leader and rejected a plan to raise rates for those earning $ 1 million and above.


A Democratic aide said Boehner stuck mainly to “talking points” in Friday’s White House meeting, with the message that the House had acted on the budget and it was now time for the Senate to move.


TALKS ON ‘BIG NUMBERS’


The two Senate leaders and their aides will plunge into talks on Saturday that will focus mainly on the threshold for raising income taxes on households with upper-level earnings, a Democratic aide said. Analysts say both sides could agree on raising taxes for households earning more than $ 400,000 or $ 500,000 a year.


The pair will also discuss whether the estate tax should be kept at current low levels or allowed to rise, the aide said.


Democrat Reid warned of tough talks.


“It’s not easy, we’re dealing with big numbers, and some of that stuff we do is somewhat complicated,” he said.


McConnell described Friday’s White House summit, also attended by Democratic House Minority Leader Nancy Pelosi, as “a good meeting.”


“So we’ll be working hard to try to see if we can get there in the next 24 hours. So I’m hopeful and optimistic,” he said.


If things cannot be worked out between the Senate leaders, Obama said he wanted both chambers in Congress to vote on a backup plan that would increase taxes only for households with more than $ 250,000 of annual income.


The plan would also extend unemployment insurance for about 2 million Americans and set up a framework for a larger deficit reduction deal next year.


There are signs in the options market that investor fear is taking hold. The CBOE Volatility Index, or the VIX, the market’s favored anxiety indicator, has remained at relatively low levels throughout this process, but it moved on Friday above 22, the highest level since June.


But some in the market were resigned to Washington going beyond the New Year’s Day deadline, as long as a serious agreement on deficit reduction comes out of the talks in early January.


“Regardless of whether the government resolves the issues now, any deal can easily be retroactive. We’re not as concerned with January 1 as the market seems to be,” said Richard Weiss, a senior money manager at American Century Investments.


Another component of the “fiscal cliff” – $ 109 billion in automatic spending cuts to military and domestic programs – is set to kick in on Wednesday.


S&P rating agency said on Friday the fiscal cliff impasse did not affect the U.S. sovereign rating.


That lifted the immediate threat of a downgrade from the agency, which cut the United States’ triple-A rating in August, 2011 in an unprecedented move after a similar partisan budget fight.


(Additional reporting by David Lawder, Thomas Ferraro, Rachelle Younglai and Mark Felsenthal; Writing by Alistair Bell; Editing by Peter Cooney)


Health News Headlines – Yahoo! News





Title Post: Senate leaders to make last-ditch “fiscal cliff” effort
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

A surprisingly good vintage as market logs gains






NEW YORK (AP) — If you’d told investors what was going to happen in 2012 — U.S. economic growth at stall speed, an intensifying European debt crisis, a slowdown in China, fiscal deadlock in Washington, decelerating corporate earnings growth — and asked how the stock market would perform, few would have predicted a good year.


But that’s just what they got.






The Dow Jones industrial average, the Standard & Poor’s 500 and the Nasdaq composite index will all end the year substantially higher, despite losing ground in the final days of year as concerns about the looming “fiscal cliff” mounted.


The Dow is on track for a 7 percent increase, its fourth yearly gain in a row, having started the year at 12,217. The S&P 500, which started the year at 1,257, is up 12 percent, beating the 7.8 percent average annual gain of the past 20 years. The Nasdaq also logged a better-than-average gain, 14 percent.


Those returns were higher when dividend payments were taken into consideration. On that basis the Dow returned 10 percent, the S&P 500 index 15 percent and the Nasdaq 16 percent.


“There’s been a lot thrown at this market, and it’s proven to be very resilient,” said Gary Flam, a portfolio manager at Bel Air Investment Advisors in California. “Here we are at the end of the year, and it’s still relatively strong.”


Stocks started the year on a tear, with optimism about an improving job market and a broader economic recovery providing the backdrop to the S&P 500′s best first-quarter rally in 14 years.


The index advanced 12 percent by the end of March, closing the quarter at 1,408, its highest in almost four years, with financial companies and technology firms leading the charge. The Dow ended the first quarter at 13,212, logging an 8 percent gain.


Apple was one of the star performers of the first quarter and was probably the year’s most talked-about company.


The popularity of the iPhone and iPad led to staggering sales growth that helped push its stock up 48 percent to almost $ 600 at the end of March. Apple also announced a dividend and overtook Exxon Mobil as the U.S.’s most valuable company.


Investors’ optimism faded, though. The intensifying European debt crisis and concerns about the impact that it would have on global economic growth prompted a sell-off.


Within two months, by the start of June, U.S. stocks had given up the year’s gains. Borrowing costs for Spain surged and investors fretted over the outcome of Greek elections that had the potential to pull the euro currency bloc apart.


The outlook for growth in China, the world’s second-largest economy, also began to weigh on investors’ minds. Economic growth there slowed to 8.1 percent in the first quarter as export demand waned, and investors worried that it would keep falling.


The Dow fell as low as 12,101 June 4. The S&P dropped to 1,278 June 1.


The second quarter was also marred by Facebook’s initial public offering.


The stock sale was one of the most keenly anticipated initial public offerings in years, but investors didn’t “like” the $ 16 billion market debut. The social network priced its IPO at $ 38 per share, and the stock started to fall soon after the first day of trading on concern about the company’s mobile strategy.


Facebook closed as low as $ 17.73 on Sept. 4 before recovering some of the ground it lost.


Company earnings reports were also starting to make uncomfortable reading for investors. Earnings growth for S&P 500 companies fell as low as 0.8 percent in the second quarter, according to S&P Capital IQ data.


The stock market only recovered its poise after the European Union put together loans to bail out Spain’s banks on June 10 and the head of the European Central Bank, Mario Draghi, pledged to do “whatever it takes” to save the euro.


Speculation that the Federal Reserve was set to provide the economy with more stimulus to prevent it from slipping back into recession also bolstered stocks.


The rally even survived a blip when a software glitch at trading firm Knight Capital threw stock prices into chaos Aug. 1.


The firm said the problem was triggered by new trading software it installed. Erroneous orders were sent to 140 stocks listed on the New York Stock Exchange, causing sudden price swings and surging trading volume.


Apple launched the iPhone 5, the latest version of its smartphone, in September, and the company’s stock climbed to a record close of $ 702.10 on Sept. 19. That gave Apple a market value of $ 658 billion, and many analysts predicted more gains lay ahead.


By the time Fed Chairman Ben Bernanke announced Sept. 13 that the U.S. central bank would start a third round of its bond-purchase program, which is intended to push longer term interest rates lower and encourage borrowing and investment, the S&P 500 had surged 14 percent from its June 1 low. A day later, the index peaked at five-year high of 1,466. The Dow Jones reached its peak for the year of 13,610, Oct. 5.


As is often the case on Wall Street, investors “bought the rumor and sold the fact,” and quickly turned their attention to the challenges that lay ahead.


Analysts had also been cutting their outlook for growth in the final quarter of the year. At the start of the second quarter, estimated earnings growth for the period was 15.7 percent. That forecast had fallen to 3.4 percent by Dec. 27.


“One of the blessings that supported the stock market‘s moves in prior years was earnings growth,” said Lawrence Creatura, a portfolio manager at Federated Investors. “That’s true this year, but at a decelerating rate. It’s not gone unnoticed that earnings growth is slowing, and many forecasts now include a full stall.”


Apple‘s halo also began to slip in the final three months of the year. Its iPad Mini tablet, launched Nov. 2, met with lukewarm reviews, there were hints of unrest among its executive ranks. Investors began to fret that the intensifying competition in the smartphone market would crimp Apple‘s profits. The stock tumbled, and despite rallying in recent days is still down 27 percent from its September peak.


The year’s final twist came in Washington.


Stocks wavered ahead of a presidential election that at times seemed too close to call, and while President Barack Obama ultimately reclaimed the White House by a comfortable margin, the Republicans retained control of the House.


The divided government set the stage for a tense end to the year as Democrats and Republicans sought to thrash out a budget plan that would avoid the U.S. falling off the “fiscal cliff,” a series of tax hikes and government spending cuts that economists say would push the economy back into recession.


Initially, markets fell as much as 5 percent in the 10 days after the elections as investors worried that a divided government would not be able to agree on a budget plan to cut the U.S. deficit.


While the S&P 500 managed to recoup those losses by December on optimism that a deal would be reached, some investors are still urging caution. Any agreement will still be “ill-tasting medicine” to the economy, as it will almost certainly involve both spending cuts and tax hikes, says Joe Costigan, director of equity research at Bryn Mawr Trust Company.


“The question is, how much will the drag from the government be offset by business and personal spending,” says Costigan. “The market has reasonable expectations for growth priced in, so I don’t think we’re going to see a big run-up.”


Economy News Headlines – Yahoo! News





Title Post: A surprisingly good vintage as market logs gains
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

2 arrested after Guinea treasury chief killed






CONAKRY, Guinea (AP) — Officials in the West African nation of Guinea say they’ve arrested two suspects in the case of the killing of the country’s treasury chief, who was shot to death nearly two months ago.


Authorities paraded the pair in front of journalists Friday. Aissatou Boiro was killed as she was driving home. She had launched an investigation into the loss of 13 million francs ($ 1.8 million) which went missing from the state coffers.






The government says the suspects were found with Boiro‘s computer memory stick and mobile telephone.


The men denied any involvement in her slaying and said a friend had given them the items.


Boiro’s colleagues say she had zero tolerance for corruption and was intent on putting an end to the mismanagement of state funds.


Africa News Headlines – Yahoo! News





Title Post: 2 arrested after Guinea treasury chief killed
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Police offer ‘virtual ridealongs’ via Twitter






SIOUX FALLS, S.D. (AP) — Riding side by side as a police officer answers a call for help or investigates a brutal crime during a ridealong gives citizens an up close look at the gritty and sometimes dangerous situations officers can experience on the job.


But a new social media approach to informing the public about what officers do is taking hold at police departments across the United States and Canada — one that is far less dangerous for citizens but, police say, just as informative.






With virtual ridealongs on Twitter, or tweetalongs, curious citizens just need a computer or smartphone for a glimpse into law enforcement officers‘ daily routines.


Tweetalongs typically are scheduled for a set number of hours, with an officer — or a designated tweeter like the department’s public information officer — posting regular updates to Twitter about what they see and do while on duty. The tweets, which also include photos and links to videos of the officers, can encompass an array of activities — everything from an officer responding to a homicide to a noise complaint.


Police departments say virtual ridealongs reach more people at once and add transparency to the job.


“People spend hard-earned money on taxes to allow the government to provide services. That’s police, fire, water, streets, the whole works, and there should be a way for those government agencies to let the public know what they’re getting for their money,” said Chief Steve Allender of the Rapid City Police Department in South Dakota, which started offering tweetalongs several months ago — https://twitter.com/rcpdtweetalong — after watching departments in Seattle, Kansas City, Mo., and Las Vegas do so.


On the day before Thanksgiving, Tarah Heupel, the Rapid City Police Department’s public information officer, rode alongside Street Crimes Officer Ron Terviel. Heupel posted regular updates every few minutes about what Terviel was doing, including the officer citing a woman for public intoxication, responding to a call of three teenagers attempting to steal cough syrup and body spray from a store and locating a man who ran from the scene of an accident. Photos were included in some of the tweets.


Michael Taddesse, a 34-year-old university career specialist in Arlington, Texas, has done several ridealongs with police and regularly follows multiple departments that conduct tweetalongs.


“I think the only way to effectively combat crime is to have a community that is engaged and understands what’s going on,” he said.


Ridealongs where “you’re out in the elements” are very different than sitting behind a computer during a tweetalong and the level of danger is “dramatically decreased,” he said. But in both instances, the passenger gains new information about the call, what laws may or may not have been broken and what transpires, he added.


For police departments, tweetalongs are just one more way to connect directly with a community through social media.


More than 92 percent of police departments use social media, according to a survey of 600 agencies in 48 states conducted by the International Association of Chiefs of Police’s Center for Social Media. And Nancy Kolb, senior program manager for IACP, called tweetalongs a “growing trend” among departments of all sizes.


There is no set protocol and departments are free to conduct the tweetalong how they see fit, she said.


In Ontario, Canada, the Niagara Regional Police Service conducted their first virtual ridealong in August over a busy eight-hour Friday night shift. The police department’s followers were able to see a tweet whenever the police unit was dispatched to one of the more than 140,000 calls received that night.


Richard Gadreau, the social media officer for the police department, said officers routinely take people out on real ridealongs, but there is a waiting list and preference is given to people interested in becoming an officer.


With tweetalongs, many calls also mean many tweets. Kolb said departments are cognizant of cluttering peoples’ Twitter feeds.


That’s why the Rapid City Police Department decided to create a separate account for the tweetalong, Allender said.


Kolb also said officers are careful not to tweet personal or sensitive information. Officers typically do not tweet child abuse or domestic abuse cases, and they usually only tweet about a call after they leave the scene to protect officers and callers.


But Allender, the chief of police in Rapid City, said tweetalongs also show some of the more outrageous calls police deal with on a regular basis — like the kid who breaks out the window of a police car while the officer is standing on the sidewalk.


“Real life is funnier than any comedy show out there and not to make fun of people, embarrass them or humiliate them, but people do funny things,” Allender said. “… I mean, that guy deserves a little bit of ridicule, and everyone who would be watching would agree. That’s just good clean fun to me.”


___


Rapid City Police Department’s “Tweetalong” account: https://twitter.com/rcpdtweetalong


___


Follow Kristi Eaton on Twitter at http://twitter.com/kristieaton


Social Media News Headlines – Yahoo! News





Title Post: Police offer ‘virtual ridealongs’ via Twitter
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..