Israel Steps Up Aerial Strikes in Gaza

Tyler Hicks/The New York Times

A man injured by bombing in the Zaitoun neighborhood of Gaza City on Saturday that also killed one person.

GAZA CITY — Israel broadened its assault on the Gaza Strip on Saturday from mostly military targets to centers of government infrastructure, obliterating the four-story headquarters of the Hamas prime minister with a barrage of five bombs before dawn.

The attack, one of several on government installations, came a day after the prime minister, Ismail Haniya, hosted his Egyptian counterpart in that very building, a sign of Hamas’s new legitimacy in a radically redrawn Arab world. That stature was underscored Saturday by a visit to Gaza from the Tunisian foreign minister and the rapid convergence in Cairo of two Hamas allies, the prime minister of Turkey and the crown prince of Qatar, for talks with the Egyptian president and the chairman of Hamas on a possible cease-fire.

But as the fighting ended its fourth day, with Israel continuing preparations for a ground invasion, the conflict showed no sign of abating. Gaza militants again fired long-range missiles at Tel Aviv, among nearly 60 that soared into Israel on Saturday. Israel said it hit more than 200 targets overnight in Gaza, and continued with afternoon strikes on the home of a Hamas commander and on a motorcycle-riding militant.

The White House reiterated its strong support for Israel, with Ben Rhodes, the deputy national security adviser, describing rocket fire from Gaza as “the precipitating factor for the conflict.”

“We believe Israel has a right to defend itself, and they’ll make their own decisions about the tactics that they use in that regard,” Mr. Rhodes told reporters on Air Force One en route to Asia.

Hamas health officials said 45 Palestinians had been killed and 385 wounded since Wednesday’s escalation in the cross-border battle. In Israel, 3 Israeli civilians have died and 63 have been injured. Four soldiers were also wounded on Saturday.

Two rockets were fired at Tel Aviv on Saturday. One landed harmlessly, probably at sea. The other was intercepted by the Iron Dome defense system in the sky above the city. An Iron Dome antimissile battery had been hastily deployed near the city on Saturday in response to the threat of longer-range rockets.

Since Wednesday, Iron Dome has knocked 245 rockets out of the sky, the military said, while 500 have struck Israel. The American-financed system is designed to intercept only rockets streaking toward towns and cities and to ignore those likely to strike open ground.

There have been failures — on Saturday a rocket crashed into an apartment block in the southern port city of Ashdod, injuring five people — but officials have put its success rate at 90 percent.

Analysts said there is no clear end to the conflict in sight, since Israel neither wants to re-engage in Gaza nor to eliminate Hamas and leave the territory to the chaos of more militant factions.

“Ultimately,” said Efraim Halevy, a former chief of Israel’s intelligence service, “both sides want Hamas to remain in control, strange as it sounds.”

But Mkhaimar Abusada, a political science professor at Al Azhar University here, cautioned that “there is no military solution to the Gaza problem.”

“There has to be a political settlement at the end of this,” he said. “Without that, this conflict is just going to go on and on.”

President Mohamed Morsi of Egypt said late Saturday night that “there could be a cease-fire soon,” after he and other members of his government spent the day in meetings with the Turkish premier, the Qatari prince, the political leaders of Hamas and other Gaza factions. But Mark Regev, a spokesman for Prime Minister Benjamin Netanyahu of Israel, denied reports that a truce was imminent.

It was unclear whether the deal under discussion would solely suspend the fighting or include other issues. Hamas — which won elections in Gaza in 2006 and took full control in 2007 but is considered a terrorist organization by Israel and the United States — wants to turn its Rafah crossing with Egypt into a free-trade zone and seeks Israel’s withdrawal from the 1,000-foot buffer it patrols on Gaza’s northern and eastern borders.

Mr. Rhodes said the Turkish and Egyptian leaders “have the ability to play a constructive role in engaging Hamas and encouraging a process of de-escalation.”

Mr. Netanyahu, for his part, spoke with the leaders of Britain, Germany, Italy, Greece, Poland, Portugal, Bulgaria and the Czech Republic, according to a statement from his office.

Jodi Rudoren reported from Gaza City, and Isabel Kershner from Jerusalem. Reporting was contributed by Fares Akram and Tyler Hicks from the Gaza Strip, Carol Sutherland and Iritz Pazner Garshowitz from Jerusalem, and David D. Kirkpatrick and Mayy El Sheikh from Cairo.

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Apple, Samsung allowed to add products in U.S. patent lawsuit

(Reuters) – A U.S. judge allowed Samsung Electronics Co Ltd to pursue claims the iPhone5 infringes its patents on Thursday, while also allowing Apple Inc to add claims that the Samsung Galaxy Note, Galaxy S III and the Jelly Bean operating system violate its patents.

The ruling by U.S. Magistrate Judge Paul Grewal in San Jose, California, was the latest development in a continuing legal war by Apple against manufacturers like Samsung whose products use Google Inc’s Android software.

Representatives for both Apple and Samsung declined comment.

The case is one of two patent infringement lawsuits pending in the U.S. District Court in San Jose by Apple against Samsung. An earlier lawsuit by Apple that related to different patents resulted in a $ 1.05 billion jury verdict against Samsung on August 24.

Apple filed the second lawsuit in February, alleging that various Samsung smartphone and tablet products including the Galaxy Nexus infringed eight of its patents.

Samsung denied infringement and filed a cross-complaint alleging that Apple’s iPhone and iPad infringed eight of its patents.

U.S. District Judge Lucy Koh issued a preliminary injunction against pretrial sales of the Nexus in June. But the U.S. Court of Appeals for the Federal Circuit overturned the sales ban on October 11.

Following the debut of the iPhone on September 21, Samsung sought to add it as an Apple product that infringed its patents. Apple moved likewise to add the Samsung Galaxy Note 10.1, Samsung Galaxy S III and the Jelly Bean operating system in connection with the Galaxy Nexus.

In his ruling Thursday, Grewal said Samsung acted with “reasonable diligence” in asking the court to allow it to add the iPhone 5 to the case.

Apple did not oppose adding the iPhone5. Nevertheless, Grewal warned Apple to “think twice before opposing similar amendments reflecting other newly released products — e.g. the iPad 4 and iPad mini — that Samsung may propose in the near future.”

The case is Apple Inc v. Samsung Electronics Co., Ltd., et al., U.S. District Court, Northern District of California, 12-cv-00630.

(Reporting By Nate Raymond in New York; Editing by Richard Pullin)

Wireless News Headlines – Yahoo! News

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Taylor Swift and One Direction's Harry Styles: Are They Dating?

By Patrick Gomez

11/17/2012 at 10:40 PM EST

Taylor Swift and Harry Styles

Janet Mayer/Splash News Online; Don Arnold/Wireimage

Taylor Swift appears to be taking her love life in a new direction.

The "Never Ever Getting Back Together" singer is seemingly taking her lyrics to heart as she moves on from recent ex, Conor Kennedy, and enjoys the company of One Direction hottie Harry Styles.

"I had to literally do a double-take," an onlooker tells PEOPLE of finding Styles, 18, with Swift, 22, on the set of The X Factor Thursday morning.

Styles was on hand to watch Swift rehearse the debut of "State of Grace," which she performed later that night on the Fox reality show.

"He was smiling at her while she rehearsed. When she was done he jumped up on stage, picked her up, put her over his shoulder and carried her off stage," the onlooker says. "The whole crew was really surprised."

The young singers were also spotted by X Factor host Mario Lopez, who says he was slapped on the back by Styles during Swift's rehearsal.

"I said, 'What are you doing here,' " Lopez said on his 104.3 MY FM radio show Friday. "And he sort of [pointed] toward Taylor."

Lopez went on to say he later saw the two "hand-in-hand."

A telling sign of the budding relationship may have been a look Styles shared with his bandmate Niall Horan a week earlier after Horan told PEOPLE his favorite song of 2012 was Swift's "Never Ever Getting Back Together."

When asked if he would ever date Swift, Horan gave a small laugh, looked at Styles and answered with a succinct, "no."

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

Read More..

Wall Street Week Ahead: Going off "cliff" with a bungee cord

NEW YORK (Reuters) - The 1987 crash. The Y2K bug. The debt ceiling debacle of 2011.

All these events, in the end, turned out to be buying opportunities for stocks. So will the "fiscal cliff," some investors say as they watch favorite stocks tumble during the political give-and-take happening in Washington.

The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday, signaling Wall Street's recent declines could be a buying opportunity. The gains were small and sentiment remains weak, but it suggests hope for market bulls.

Though shares ended moderately higher on Friday, it was not enough to offset losses for the week. The S&P was down 1.5 percent, while both the Dow and the Nasdaq fell 1.8 percent.

The S&P 500 is down more than 5 percent in the seven sessions that followed President Barack Obama's re-election. Uncertainty arose as attention turned to Washington's task of dealing with mandated tax hikes and spending cuts that could take the U.S. economy back into recession.

Some see the market's move as an overreaction to hyperbolic headlines about policy gridlock in Washington, believing stocks may start to rebound in what should be a quiet few days ahead of the Thanksgiving holiday next Thursday.

"It just doesn't seem to make any sense that you suddenly wake up the day after the election and realize we've got a fiscal cliff," said Krishna Kumar, partner at New York hedge fund Goose Hollow Alpha Advisors.

Not long ago the S&P was on target for its second-best year in the last 10, riding a 17 percent advance in 2012. That's been halved to about 8 percent, which isn't bad but disappointing compared with just a month ago.

Investors have been selling the year's winners. Apple is down 25 percent from its peak above $700. General Electric is down 14 percent; Google has lost 16 percent. Overall, the stocks that make up the top 10 percent of performers in the month prior to Election Day have been the worst performers since, according to Bespoke Investment Group of Harrison, New York.

"I think it's a good opportunity to be long stocks at these levels," said Kumar.

Hikes on capital gains and dividend taxes are on the line, and Obama has dug in his heels on what he sees as a mandate to make the tax code more progressive.

He seems to have the upper hand in dealings with Congress because Republican lawmakers don't want to see tax rates increase, which is what will happen if no solution is found by the beginning of 2013. Republicans don't want to take the blame for driving the economy over the cliff.

The current crisis is similar to last year's fight to raise the U.S. debt ceiling, which led to the downgrade of the United States' top credit rating in early August 2011.

During the dealings, the S&P 500 lost 18.8 percent between its peak in July 2011 and its bottom in August. As the market slid, the political standoff badly hurt investors' confidence in Washington, setting off a spike in volatility.

In the end a deal was announced that raised the ceiling and put off longer-term fiscal decisions until January 1, 2013, setting the stage for today's "fiscal cliff" crisis.

After staying flat through September 2011, the S&P 500 jumped 31 percent between its October low and the end of March.

BUY THE DIP?

Gridlock in Washington and all that could possibly go wrong with the economy if a deal is not reached have grabbed the headlines, but the negotiations leave room for stock market gains. Congressional leaders said Friday they will work through the Thanksgiving holiday recess to find a solution.

"The debate over how to solve (the fiscal cliff) may be more productive than is commonly recognized," said Brad Lipsig, senior portfolio manager at UBS Financial Services in New York.

"The U.S. is facing a major debt overhang, and serious steps toward addressing it might ultimately be viewed as a positive for future growth," he said. "The market may recognize this and, after a time of hand wringing, recover from the concerns with a renewed sense of optimism."

The recent selling took the S&P 500's relative strength index - a technical measure of internal strength - below 30 this week, indicating the benchmark is oversold and due for a rebound.

The RSI in four of the 10 S&P sectors - utilities, telecoms, consumer staples and technology - is below 30 and the highest RSI reading, for the consumer discretionary sector, is below 40, suggesting a bounce is in store.

"What I want to do is what we did during the decline following the budget negotiations in the summer of 2011: The lower the stock market goes, the more I want to own stock," said Brian Reynolds, chief market strategist at New York-based Rosenblatt Securities.

"If we go off the cliff it will be with a bungee cord attached," he said.

KEEP CALM AND HEDGE

Volatility is expected to rise through the end of November and to spike in late December if no agreement on the fiscal cliff is reached in Congress. Alongside comes opportunity for those with high risk tolerance.

"Recently, volatility has increased in the market overall. You can't really pick it up in the VIX yet, but I think as we get through November, I think you're likely to see the VIX be at a relatively higher level," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

In 2011, the VIX averaged 19.2 in July and 35 in August. So far this month the average is 17.8 and it is expected to spike if negotiations on the cliff drag into late next month.

"Looking at the range of possibilities, I would say any of them would be better than sitting here waiting. I would even put going off the fiscal cliff in that category," said Jill Cuniff, president of Seattle-based Edge Asset Management Inc, which manages about $20 billion.

"But we don't believe Congress will let that happen; there's going to be some middle ground here."

(Reporting by Rodrigo Campos and Jonathan Spincer, additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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Israel Sticks to Tough Approach in Conflict With Hamas

TEL AVIV — With rockets landing on the outskirts of Tel Aviv and Jerusalem on Friday and the Egyptian prime minister making a solidarity visit to Gaza, the accelerating conflict between Israel and Hamas — reminiscent in many ways of so many previous battles — has the makings of a new kind of Israeli-Palestinian face-off.

The combination of longer-range and far deadlier rockets in the hands of more radicalized Palestinians, the arrival in Gaza and Sinai from North Africa of other militants pressuring Hamas to fight more, and the growing tide of anti-Israel fury in a region where authoritarian rulers have been replaced by Islamists means that Israel is engaging in this conflict with a different set of challenges.

The Middle East of 2012 is not what it was in late 2008, the last time Israel mounted a military invasion to reduce the rocket threat from Gaza. Many analysts and diplomats outside Israel say the country today needs a different approach to Hamas and the Palestinians based more on acknowledging historic grievances and shifting alliances.

“As long as the crime of dispossession and refugeehood that was committed against the Palestinian people in 1947-48 is not redressed through a peaceful and just negotiation that satisfies the legitimate rights of both sides, we will continue to see enhancements in both the determination and the capabilities of Palestinian fighters — as has been the case since the 1930s, in fact,” Rami G. Khouri, a professor at the American University of Beirut, wrote in an online column. “Only stupid or ideologically maniacal Zionists fail to come to terms with this fact.”

But the government in Israel and the vast majority of its people have drawn a very different conclusion. Their dangerous neighborhood is growing still more dangerous, they agree. That means not concessions, but being tougher in pursuit of deterrence, and abandoning illusions that a Jewish state will ever be broadly accepted here.

“There is a theory, which I believe, that Hamas doesn’t want a peaceful solution and only wants to keep the conflict going forever until somehow in their dream they will have all of Israel,” Eitan Ben Eliyahu, a former leader of the Israeli Air Force, said in a telephone briefing. “There is a good chance we will go into Gaza on the ground again.”

What is striking in listening to the Israelis discuss their predicament is how similar the debate sounds to so many previous ones, despite the changed geopolitical circumstances. In most minds here, the changes do not demand a new strategy, simply a redoubled old one.

The operative metaphor is often described as “cutting the grass,” meaning a task that must be performed regularly and has no end. There is no solution to security challenges, officials here say, only delays and deterrence. That is why the idea of one day attacking Iranian nuclear facilities, even though such an attack would set the nuclear program back only two years, is widely discussed as a reasonable option. That is why frequent raids in the West Bank and surveillance flights over Lebanon never stop.

And that is why this week’s operation in Gaza is widely viewed as having been inevitable, another painful but necessary maintenance operation that, officials here say, will doubtless not be the last.

There are also those who believe that the regional upheavals are improving Israel’s ability to carry out deterrence. One retired general who remains close to the military and who spoke on the condition of anonymity said that with Syria torn apart by civil war, Hezbollah in Lebanon discredited because of its support for the Syrian government, and Egypt so weakened economically, Israel should not worry about anything but protecting its civilians.

“Should we let our civilians be bombed because the Arab world is in trouble?” he asked.

So much was happening elsewhere in the region — the Egyptian and Libyan revolutions, the Syrian civil war, dramatic changes in Yemen and elections in Tunisia — that a few rockets a day that sent tens of thousands of Israeli civilians into bomb shelters drew little attention. But in the Israeli view, the necessity of a Gaza operation has been growing steadily throughout the Arab Spring turmoil.

In 2009, after the Israeli invasion pushed Hamas back and killed about 1,400 people in Gaza, 200 rockets hit Israel. The same was true in 2010. But last year the number rose to 600, and before this week the number this year was 700, according to the Israeli military. The problem went beyond rockets to mines planted near the border aimed at Israeli military jeeps and the digging of explosive-filled tunnels.

“In 2008 we managed to minimize rocket fire from Gaza significantly,” said Lt. Col. Avital Leibovich, a military spokeswoman. “We started that year with 100 rockets a week and ended it with two a week. We were able to give people in our south two to three years. But the grass has grown, and other things have as well. Different jihadist ideologies have found their way into Gaza, including quite a few terrorist organizations. More weapons have come in, including the Fajr-5, which is Iranian made and can hit Tel Aviv. That puts nearly our entire population in range. So we reached a point where we cannot act with restraint any longer.”

Gazans see events in a very different light. The problem, they say, comes from Israel: Israeli drones fill the Gazan skies, Israeli gunboats strafe their waters, Palestinian militants are shot at from the air, and the Gaza border areas are declared off limits by Israel with the risk of death from Israeli gunfire.

But there is little dissent in Israel about the Gaza policy. This week leaders of the leftist opposition praised the assassination of Ahmed al-Jabari, the Hamas military commander, on Wednesday. He is viewed here as the equivalent of Osama bin Laden. The operation could go on for many days before there is any real dissent.

The question here, nonetheless, is whether the changed regional circumstances will make it harder to “cut the grass” in Gaza this time and get out. A former top official who was actively involved in the last Gaza war and who spoke on the condition of anonymity said it looked to him as if Hamas would not back down as easily this time.

“They will not stop until enough Israelis are killed or injured to create a sense of equality or balance,” he said. “If a rocket falls in the middle of Tel Aviv, that will be a major success. But this government will go back at them hard. I don’t see this ending in the next day or two.”

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Do people turn to Twitter for CPR info?

NEW YORK (Reuters Health) – Amid snarky comments and links to cat videos, some Twitter users turn to the social network to find and post information on cardiac arrest and CPR, according to a new study.

Over a month, researchers found 15,324 messages – known as tweets – on Twitter that included specific information about resuscitation and cardiac arrest.

“From a science standpoint, we wanted to know if we can reliably find information on a public health topic, or is (Twitter) just a place where people describe what they ate that day,” said the study’s lead author Dr. Raina M. Merchant.

According to the researchers, they did find some people using Twitter to send and receive a wide variety of information on CPR and cardiac arrest, including their personal experiences, questions and current events.

Merchant, an assistant professor in the Department of Emergency Medicine at the University of Pennsylvania in Philadelphia, said they were excited to find so many people talking about these topics in a meaningful way.

The researchers, who published their findings in the journal Resuscitation, write that some researchers and organizations already use Twitter for public health matters. Those efforts include tracking the 2009 H1N1 “swine flu” pandemic and finding the source of the 2011 Haitian cholera outbreak.

When it comes to such outbreaks, “Right now, it’s mostly an educational tool for public health officials or professionals,” said Dr. Gunther Eysenbach, editor and publisher of the Journal of Medical Internet Research and of the University Health Network in Toronto.

With more than 500 million Twitter accounts, Merchant said that understanding how tweets can be filtered may allow doctors and other healthcare providers to respond to people’s questions in real time, and possibly find new ways to educate the public about health matters, including cardiac arrest and CPR.

TWEETS AND RETWEETS

For the new study, the researchers created a Twitter search for key terms, such as CPR, AED (automated external defibrillators), resuscitation and sudden death.

Between April and May 2011, their search returned 62,163 tweets, which were whittled down to 15,324 messages that contained specific information about cardiac arrest and resuscitation.

Only 7 percent of the tweets were about specific cardiac arrest events, such as a user saying they just saw a man being resuscitated, or a user asking for prayers for a sick family member.

About 44 percent of the tweets were about performing CPR and using an AED. Those types of tweets included information on rules about keeping AEDs in businesses and questions about how to resuscitate a person.

The rest of the tweets were about education, research and news events, such as links to articles about celebrities going into cardiac arrest.

The vast majority of the Twitter users sent fewer than three tweets about cardiac arrest or CPR throughout the month. Users that sent more tweets typically had more followers – people who subscribe to a certain person’s messages – and often worked in a health care-related field.

About 13 percent of the tweets were re-sent, or retweeted, by other users. The most popular retweeted messages were about celebrity-related cardiac arrest news, such as an AED being used to revive a fan at a Lady Gaga concert.

“I think the pilot (study) illustrated for us is that there is an opportunity to potentially provide research and information for people in real time about cardiac arrest and resuscitation,” said Merchant.

“I can imagine in the future we will see systems that would automatically respond to tweets of individual users,” said Eysenbach, who was not involved with the new research.

He added that businesses already have systems automatically responding to tweets, and one potential would be for a piece of software to analyze a user’s location to locate the nearest AED.

“Twitter is a really powerful tool, and we’re just beginning to understand its abilities,” Merchant told Reuters Health.

“People should join the conversation and tweet. And healthcare providers should really be part of that conversation,” she said.

SOURCE: http://bit.ly/T2bj7u Resuscitation, online October 29, 2012.

Social Media News Headlines – Yahoo! News

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It's a Girl for Chad Lowe

Mom & Babies
Celebrity Baby Blog

11/17/2012 at 12:20 AM ET

Chelsea Lauren/WireImage

It’s a girl for Chad Lowe.

The Pretty Little Liars star and wife Kim welcomed their second daughter on Thursday, Nov. 15, the actor announced via Twitter.

“It’s a girl!!! And she’s as beautiful as her mommy and [3½-year-old] big sister Mabel,” Lowe, 44, writes. “We are blessed!”

The couple, who married in August 2010, announced the pregnancy in June.

“I’m trying to bank some sleeping hours, which is a little tough,” Lowe joked to PEOPLE last Saturday, sharing that his wife was due to deliver this week.

– Sarah Michaud

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

Read More..

Wall Street Week Ahead: Going off "cliff" with a bungee cord

NEW YORK (Reuters) - The 1987 crash. The Y2K bug. The debt ceiling debacle of 2011.

All these events, in the end, turned out to be buying opportunities for stocks. So will the "fiscal cliff," some investors say as they watch favorite stocks tumble during the political give-and-take happening in Washington.

The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday, signaling Wall Street's recent declines could be a buying opportunity. The gains were small and sentiment remains weak, but it suggests hope for market bulls.

Though shares ended moderately higher on Friday, it was not enough to offset losses for the week. The S&P was down 1.5 percent, while both the Dow and the Nasdaq fell 1.8 percent.

The S&P 500 is down more than 5 percent in the seven sessions that followed President Barack Obama's re-election. Uncertainty arose as attention turned to Washington's task of dealing with mandated tax hikes and spending cuts that could take the U.S. economy back into recession.

Some see the market's move as an overreaction to hyperbolic headlines about policy gridlock in Washington, believing stocks may start to rebound in what should be a quiet few days ahead of the Thanksgiving holiday next Thursday.

"It just doesn't seem to make any sense that you suddenly wake up the day after the election and realize we've got a fiscal cliff," said Krishna Kumar, partner at New York hedge fund Goose Hollow Alpha Advisors.

Not long ago the S&P was on target for its second-best year in the last 10, riding a 17 percent advance in 2012. That's been halved to about 8 percent, which isn't bad but disappointing compared with just a month ago.

Investors have been selling the year's winners. Apple is down 25 percent from its peak above $700. General Electric is down 14 percent; Google has lost 16 percent. Overall, the stocks that make up the top 10 percent of performers in the month prior to Election Day have been the worst performers since, according to Bespoke Investment Group of Harrison, New York.

"I think it's a good opportunity to be long stocks at these levels," said Kumar.

Hikes on capital gains and dividend taxes are on the line, and Obama has dug in his heels on what he sees as a mandate to make the tax code more progressive.

He seems to have the upper hand in dealings with Congress because Republican lawmakers don't want to see tax rates increase, which is what will happen if no solution is found by the beginning of 2013. Republicans don't want to take the blame for driving the economy over the cliff.

The current crisis is similar to last year's fight to raise the U.S. debt ceiling, which led to the downgrade of the United States' top credit rating in early August 2011.

During the dealings, the S&P 500 lost 18.8 percent between its peak in July 2011 and its bottom in August. As the market slid, the political standoff badly hurt investors' confidence in Washington, setting off a spike in volatility.

In the end a deal was announced that raised the ceiling and put off longer-term fiscal decisions until January 1, 2013, setting the stage for today's "fiscal cliff" crisis.

After staying flat through September 2011, the S&P 500 jumped 31 percent between its October low and the end of March.

BUY THE DIP?

Gridlock in Washington and all that could possibly go wrong with the economy if a deal is not reached have grabbed the headlines, but the negotiations leave room for stock market gains. Congressional leaders said Friday they will work through the Thanksgiving holiday recess to find a solution.

"The debate over how to solve (the fiscal cliff) may be more productive than is commonly recognized," said Brad Lipsig, senior portfolio manager at UBS Financial Services in New York.

"The U.S. is facing a major debt overhang, and serious steps toward addressing it might ultimately be viewed as a positive for future growth," he said. "The market may recognize this and, after a time of hand wringing, recover from the concerns with a renewed sense of optimism."

The recent selling took the S&P 500's relative strength index - a technical measure of internal strength - below 30 this week, indicating the benchmark is oversold and due for a rebound.

The RSI in four of the 10 S&P sectors - utilities, telecoms, consumer staples and technology - is below 30 and the highest RSI reading, for the consumer discretionary sector, is below 40, suggesting a bounce is in store.

"What I want to do is what we did during the decline following the budget negotiations in the summer of 2011: The lower the stock market goes, the more I want to own stock," said Brian Reynolds, chief market strategist at New York-based Rosenblatt Securities.

"If we go off the cliff it will be with a bungee cord attached," he said.

KEEP CALM AND HEDGE

Volatility is expected to rise through the end of November and to spike in late December if no agreement on the fiscal cliff is reached in Congress. Alongside comes opportunity for those with high risk tolerance.

"Recently, volatility has increased in the market overall. You can't really pick it up in the VIX yet, but I think as we get through November, I think you're likely to see the VIX be at a relatively higher level," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

In 2011, the VIX averaged 19.2 in July and 35 in August. So far this month the average is 17.8 and it is expected to spike if negotiations on the cliff drag into late next month.

"Looking at the range of possibilities, I would say any of them would be better than sitting here waiting. I would even put going off the fiscal cliff in that category," said Jill Cuniff, president of Seattle-based Edge Asset Management Inc, which manages about $20 billion.

"But we don't believe Congress will let that happen; there's going to be some middle ground here."

(Reporting by Rodrigo Campos and Jonathan Spincer, additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

Read More..

Israel and Hamas Step Up Air Attacks in Gaza Clash

Wissam Nassar for The New York Times

The Gaza City funeral on Thursday of Ahmed al-Jabari, the Hamas military commander, killed in an Israeli attack. More Photos »

KIRYAT MALACHI, Israel — Israel and Hamas brushed aside international calls for restraint on Thursday and escalated their lethal conflict over Gaza, where Palestinian militants launched hundreds of rockets into Israeli territory, targeting Tel Aviv for the first time, and Israel intensified its aerial assaults and sent armored vehicles rumbling toward the Gaza border for a possible invasion.

Defense Minister Ehud Barak of Israel, expressing outrage over a pair of long-range Palestinian rockets that whizzed toward Tel Aviv and set off the first air-raid warning in the Israeli metropolis since it was threatened by Iraqi Scuds in the Persian Gulf war of 1991, said, “There will be a price for that escalation that the other side will have to pay.”

He authorized the call-up of 30,000 army reservists if needed, another sign that Israel was preparing to invade Gaza for the second time in four years to crush what it considers an unacceptable security threat from smuggled rockets amassed by Hamas, the militant Islamist group that governs the isolated coastal enclave and does not recognize Israel’s right to exist.

It was not clear whether the show of Israeli force on the ground in fact portended an invasion or was meant as more of an intimidation tactic to further pressure Hamas leaders, who had all been forced into hiding on Wednesday after the Israelis killed the group’s military chief, Ahmed al-Jabari, in a pinpoint aerial bombing. But Prime Minister Benjamin Netanyahu of Israel said he was prepared to “take whatever action is necessary.”

Tel Aviv was not hit on Thursday. One rocket crashed into the sea off its coast and another apparently fell, the ability of militants 40 miles away to fire those weapons at the city of 400,000 underscored, in the Israeli government’s view, the justification for the intensive aerial assaults on hundreds of suspected rocket storage sites and other targets in Gaza.

Health officials in Gaza said at least 19 people, including five children and a pregnant teenager, had been killed over two days of nearly nonstop aerial attacks by Israel, and dozens had been wounded. Three Israelis were killed on Thursday in Kiryat Malachi, this small southern Israeli town, when a rocket fired from Gaza struck their apartment house.

In a sign of solidarity with Hamas as well as a diplomatic move to ease the crisis, President Mohamed Morsi of Egypt ordered his prime minister to lead a delegation to Gaza on Friday. In another diplomatic signal, Ban Ki-moon, the United Nations secretary general, also planned to visit Jerusalem, Cairo and Ramallah, the West Bank headquarters of the Palestinian Authority, in coming days.

In Washington, Obama administration officials said they had asked friendly Arab countries with ties to Hamas, which the United States and Israel regard as a terrorist group, to use their influence to seek a way to defuse the hostilities. At the same time, however, a State Department spokesman, Mark C. Toner, reiterated to reporters the American position that Israel had a right to defend itself from the rocket fire and that the “onus was on Hamas” to stop it.

The Pentagon said late Thursday that Defense Secretary Leon E. Panetta spoke to Mr. Barak this week about Israeli operations in and around Gaza and condemned the violence carried out by Hamas and other groups against Israel.

There was no sign that either side was prepared, at least not yet, to restore the uneasy truce that was forged the last time the Israelis invaded Gaza in the winter of 2008-9, a three-week war that left 1,400 Palestinians dead and drew widespread international condemnation.

Denunciations of Israel for what critics called a renewal of its aggressive and disproportionate attacks spread quickly on the second day of the aerial assaults. The biggest criticism came from the 120-nation Nonaligned Movement, the largest bloc at the United Nations. In a statement released by Iran, which holds the group’s rotating presidency and is one of Israel’s most ardent foes, the group said: “Israel, the occupying power, is, once more, escalating its military campaign against the Palestinian people, particularly in the Gaza Strip.” The group made no mention of the Palestinian rocket fire aimed at Israel but condemned “this act of aggression by the Israelis and their resort to force against the defenseless people” and demanded “decisive action by the U.N. Security Council.”

Isabel Kershner reported from Kiryat Malachi, and Rick Gladstone from New York. Reporting was contributed by Fares Akram from Gaza, Mayy El Sheikh and David D. Kirkpatrick from Cairo, Alan Cowell from Paris and Elisabeth Bumiller from Bangkok.

Isabel Kershner reported from Kiryat Malachi, and Rick Gladstone from New York. Reporting was contributed by Fares Akram from Gaza, Rina Castelnuovo from Kiryat Malachi, Mayy El Sheikh and David D. Kirkpatrick from Cairo, Gabby Sobelman from Jerusalem, Alan Cowell from Paris and Elisabeth Bumiller from Bangkok.

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Ruckus Wireless prices IPO at high end of range: market source

(Reuters) – WiFi products maker Ruckus Wireless Inc priced its initial public offering at $ 15 per share, the high end of its expected price range, a market source told Reuters.

The company, which is backed by Google Inc‘s Motorola Mobility LLC and venture capital firm Sequoia Capital, raised $ 126 million by selling 8.4 million shares.

Ruckus offered 7 million shares while selling shareholders, including Telus Corp, offered 1.4 million shares.

The Sunnyvale, California-based company, which makes wireless LAN products for both indoor and outdoor use, competes with Meru Networks Inc and Aruba Networks Inc.

The company’s customers include Time Warner Cable Inc, Towerstream Corp, Tikona Digital Networks and Bright House Networks.

Goldman Sachs & Co and Morgan Stanley are the lead underwriters to the offering.

The company’s shares are expected to begin trading on the New York Stock Exchange on Friday under the ticker symbol “RKUS”.

(This story was fixed to correct description of Sequoia Capital to venture capital firm in paragraph 2)

(Reporting by Sharanya Hrishikesh and Ashutosh Pandey in Bangalore; Editing by Sriraj Kalluvila)

Wireless News Headlines – Yahoo! News

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The X Factor Reveals Its Top 12

TV Watch

The X Factor

11/15/2012 at 11:00 PM EST

Demi Lovato and Simon Cowell

Double elimination time on The X Factor!

The top 12 performed songs by divas the night before – and then faced a night of diva-worthy drama on Thursday's show. And it was a particularly tough night for the young adults' coach, Demi Lovato, after the outcome of the viewers' votes were revealed.

Keep reading for all the results ...

Early in the hour, hosts Mario Lopez and Khloé Kardashian announced the act with the lowest number of votes was Simon Cowell's hip-hop group Lyric 145, who performed a mash-up of Queen's "We Will Rock You" and Katy Perry's "E.T." on Wednesday.

"We didn't get the opportunity to show what we really had," frontwoman Lyric Da Queen said. "We hard original lyrics ... But we're just taking the good with the bad right now."

Nine acts were then declared safe, leaving two to sing for survival – and they were both from Demi's team: Jennel Garcia and Paige Thomas.

Jennel performed an emotional rendition of Hoobastank's "The Reason," and Paige sang Coldplay's "Paradise."

Then the judges had to vote for the act they wanted to send home.

"I'm shocked that either of them are at the bottom," L.A. Reid said. He voted to send home Jennel. Britney followed his lead. Simon refused to say his choice and forced Demi to go first. "The act that I'm going to send home is Paige," she said. It was up to Simon to avoid a tie – and he picked Jennel.

So, Demi was the only one to reject Paige and she'll have to work with her again next week. Awkward!

"You're so unbelievably talented and you have a future ahead of you so I'm not worried," Demi told Jennel. "I love you and I really, really believe in you."

And then the co-hosts announced the ranking of the top 10 based on who got the most votes:

10. Paige Thomas
9. Arin Ray
8. Beatrice Miller
7. Diamond White
6. Fifth Harmony
5. CeCe Frey
4. Emblem3
3. Vino Alan
2. Carly Rose Sonenclar
1. Tate Stevens

The show's only country singer does it again!

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Diabetes rates rocket in Oklahoma, South

NEW YORK (AP) — The nation's diabetes problem is getting worse, and the biggest jump over 15 years was in Oklahoma, according to a new federal report issued Thursday.

The diabetes rate in Oklahoma more than tripled, and Kentucky, Georgia and Alabama also saw dramatic increases since 1995, the study showed.

The South's growing weight problem is the main explanation, said Linda Geiss, lead author of the report by the Centers for Disease Control and Prevention study.

"The rise in diabetes has really gone hand in hand with the rise in obesity," she said.

Bolstering the numbers is the fact that more people with diabetes are living longer because better treatments are available.

The disease exploded in the United States in the last 50 years, with the vast majority from obesity-related Type 2 diabetes. In 1958, fewer than 1 in 100 Americans had been diagnosed with diabetes. In 2010, it was about 1 in 14.

Most of the increase has happened since 1990.

Diabetes is a disease in which the body has trouble processing sugar; it's the nation's seventh leading cause of death. Complications include poor circulation, heart and kidney problems and nerve damage.

The new study is the CDC's first in more than a decade to look at how the nationwide boom has played out in different states.

It's based on telephone surveys of at least 1,000 adults in each state in 1995 and 2010. Participants were asked if a doctor had ever told them they have diabetes.

Not surprisingly, Mississippi — the state with the largest proportion of residents who are obese — has the highest diabetes rate. Nearly 12 percent of Mississippians say they have diabetes, compared to the national average of 7 percent.

But the most dramatic increases in diabetes occurred largely elsewhere in the South and in the Southwest, where rates tripled or more than doubled. Oklahoma's rate rose to about 10 percent, Kentucky went to more than 9 percent, Georgia to 10 percent and Alabama surpassed 11 percent.

An official with Oklahoma State Department of Health said the solution is healthier eating, more exercise and no smoking.

"And that's it in a nutshell," said Rita Reeves, diabetes prevention coordinator.

Several Northern states saw rates more than double, too, including Washington, Idaho, Montana, Wyoming, South Dakota, Minnesota, Missouri, Ohio and Maine.

The study was published in CDC's Morbidity and Mortality Weekly Report.

___

Associated Press writer Ken Miller in Oklahoma City contributed to this report.

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Online:

CDC report: http://tinyurl.com/cdcdiabetesreport

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Wall Street ends flat as wary investors stay defensive

NEW YORK (Reuters) - Stocks were little changed on Thursday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales.

The S&P 500 is down nearly 2 percent for the week, adding to last week's selloff and eroding more of the market's gains for the year.

What had looked like a stellar 2012 for stocks has turned into merely an average year, and as 2012 draws to a close, investors are becoming more inclined to protect the gains they have.

The worry is the economy could contract again if no deal is reached in Washington to avoid the "fiscal cliff" - large, automatic budget cuts and tax hikes that begin to take effect in the new year.

Combined with the euro zone debt crisis, the uncertain outlook for corporations makes it hard to know how much a stock is worth, said Alan Lancz, president of Alan B. Lancz & Associates in Toledo, Ohio.

"Valuation is going to be uncertain because you don't know what the growth will be," said Lancz. "That is definitely not a good scenario for someone to step up to the plate and do a lot of buying."

The euro zone relapsed into its second recession since 2009 in the third quarter as the region was hurt by its debt problems.

Wal-Mart fell 3.6 percent to $68.72 and was the biggest drag on the Dow as frugal consumers hurt the company's quarterly sales.

Investors will be watching Friday's meeting at the White House between President Barack Obama and Republican and Democratic leaders of Congress over deficit reduction for any sign the two sides are moving closer.

The memory of last year's political impasse over raising the debt ceiling has also made analysts nervous.

"(There is) uncertainty of whether we're going to have a functioning government going forward. That is a weight that sits on markets right now," said Troy Logan, managing director and senior economist at Warren Financial Service in Exton, Pennsylvania.

Even if the economy avoids an outright recession, there are fears a lengthy political dispute could sap business investment and consumer spending.

The Dow Jones industrial average <.dji> slipped 28.49 points, or 0.23 percent, to 12,542.46. The Standard & Poor's 500 Index <.spx> lost 2.16 points, or 0.16 percent, to 1,353.33. The Nasdaq Composite Index <.ixic> was off 9.87 points, or 0.35 percent, to 2,836.94.

The S&P 500 sunk to a 3 1/2-month closing low and was well below its 200-day moving average, which it pierced last week.

Data on Thursday showed new claims for unemployment benefits surged last week, while factory activity in the mid-Atlantic region unexpectedly shrank in November as the economy felt the effects of superstorm Sandy.

A flare-up in violence in the Middle East added to market unease as Israeli warplanes bombed targets in and around Gaza city for a second day, while two rockets fired from the Gaza Strip targeted Tel Aviv.

Apple Inc shares dragged the Nasdaq lower, falling 2.1 percent to $525.62 and down about 25 percent since September's high.

Also in the tech sector, shares of Dell Inc fell in after-hours trading after it reported revenue that was shy of Wall Street's expectations. Dell was down 2.2 percent at $9.35.

Target Corp bucked the trend, rising 1.7 percent to $62.44 after it reported a profit that beat expectations.

Volume was roughly 7.26 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, topping the year-to-date average daily closing volume of around 6.5 billion.

Decliners outnumbered advancers on the NYSE by 2,069 to 975 on the New York Stock Exchange. Decliners also had the upper hand on the Nasdaq, outpacing advancers 1,506 to 948.

(Editing by Kenneth Barry)

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BBC Failures Show Limits of Guidelines

LONDON — It was 2004, and the British Broadcasting Corporation was gripped by a crisis over journalistic standards that had led to Parliamentary hearings, public recrimination and the resignations of its two top officials. Vowing change, the corporation established elaborate bureaucratic procedures that placed more formal responsibility for delicate decisions in the hands not of individual managers, but of rigid hierarchies.

The corporation also appointed a deputy director general in charge of news operations; established a “journalism board” to monitor editorial policy; issued numerous new guidelines on journalistic procedures; and put an increasing emphasis on “compliance” — a system in which managers are required to file cumbersome forms flagging dozens of potential trouble spots, from bad language to “disturbing content” like exorcism or beheadings, in every program taped for broadcast.

More crises would follow — the history of the BBC can be measured out in crises — and with each new one, the management team under Mark Thompson, director general from 2004 through mid-September 2012, added more guidelines and put more emphasis on form-filling and safety checks in news and entertainment programs. An organization already known for its bureaucracy became even more unwieldy (the editorial guidelines are now 215 pages long).

But it is these very structures that seem to have failed the BBC in the most recent scandal, in which its news division first canceled a child abuse segment it should have broadcast, and later broadcast one it should have canceled. In the first instance, it appears that people overseeing the program were too cautious, so that top managers were left unaware of its existence; in the second, managers may have relied too much on rigid procedures at the expense of basic journalistic principles.

“They burned their fingers,” said Tim Luckhurst, a journalism professor at the University of Kent who worked at the BBC for 10 years. “They wanted systems that could take responsibility instead of people.”

The recent scandal has had a number of immediate results. Mr. Thompson’s successor as director general, George Entwistle, resigned after just 54 days on the job. (Mr. Thompson is now president and chief executive of The New York Times Company.) Outside investigators were appointed to interrogate BBC employees in at least three different inquiries. A number of lower- and midlevel managers had to withdraw temporarily from their jobs and, facing possible disciplinary action, hired lawyers. And, once again, the BBC is talking about reorganizing structures.

Through a spokesman, Mr. Entwistle declined to comment on the scandal or the BBC’s management practices, saying he was “not doing any media interviews at present.” Mr. Thompson also declined to comment.

But Mr. Entwistle’s temporary successor, Tim Davie, who had previously been director of BBC Audio & Music, acknowledged that changes had to be made. “If the public are going to get journalism they trust from the BBC I have to be, as director general, very clear on who’s running the news operation and ensuring that journalism that we put out passes muster,” Mr. Davie said in his first week on the job. The first thing to do, he said, was to “take action and build trust by putting a clear line of command in.”

This is a complicated scandal in two parts. The first part was over the BBC’s decision last December not to broadcast a report saying that Jimmy Savile, a longtime BBC television host, had been a serial child molester, and instead to broadcast several glowing tributes to his career. The second part was its decision on Nov. 2 to accuse a member of Margaret Thatcher’s government of being a pedophile, an accusation that turned out to be patently false.

But both exposed the problems in a system that seems to insulate the BBC’s director general — who is also the editor in chief — from knowledge of basic issues like what potentially contentious programs are scheduled for broadcast. And both decisions were the result, it seems, of a system that failed in practice, even as it was correctly followed in theory.

Ben Bradshaw, a former BBC correspondent and now a Labour member of Parliament, said the 2004 scandal, touched off by reporting about British intelligence on Iraqi weapons of mass destruction, had created a system based on “fear and anxiety.” The BBC, he added, became “even more bureaucratic and had even more layers, which exacerbated the problem of buck passing and no one being able to take a decision.”

Speaking of the Nov. 2 broadcast, the chairman of the BBC Trust, Chris Patten, said in a television interview that the piece went through “every damned layer of BBC management bureaucracy, legal checks” without anyone raising any serious objections.

Matthew Purdy contributed reporting from New York, and Lark Turner from London.

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Hope Solo Weds Jerramy Stevens Amid Assault Allegations?

By Dahvi Shira

11/14/2012 at 06:35 PM EST

Jerramy Stevens and Hope Solo

NFL/Getty; Jeff Vinnick/Getty

One day after former Seattle Seahawks tight end Jerramy Stevens was arrested on suspicion of assaulting his fiancée, U.S. women's soccer team goalkeeper Hope Solo, the pair reportedly tied the knot.

"Confirmed," Sportsradio 950 AM and 102.9 FM radio host Dave Mahler Tweeted on Tuesday. "Jerramy Stevens and Hope Solo were married tonight. Events of yesterday morning didn't change plans."

The pair, who had only been dating for about two months, applied for a marriage license last Thursday. According to court documents, the athletes were arguing over whether to wed in Florida or Washington State.

Stevens, 33, was reportedly released from custody by a Kirkland, Wash., Municipal Court judge on Tuesday after determining there wasn't enough evidence to hold the former football star.

All of the former Dancing with the Stars contestant's social media pages have gone silent since Nov. 6., and calls to her rep have not been returned.

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Booze calories nearly equal soda's for US adults

NEW YORK (AP) — Americans get too many calories from soda. But what about alcohol? It turns out adults get almost as many empty calories from booze as from soft drinks, a government study found.

Soda and other sweetened drinks — the focus of obesity-fighting public health campaigns — are the source of about 6 percent of the calories adults consume, on average. Alcoholic beverages account for about 5 percent, the new study found.

"We've been focusing on sugar-sweetened beverages. This is something new," said Cynthia Ogden, one of the study's authors. She's an epidemiologist with the Centers for Disease Control and Prevention which released its findings Thursday.

The government researchers say the findings deserve attention because, like soda, alcohol contains few nutrients but plenty of calories.

The study is based on interviews with more than 11,000 U.S. adults from 2007 through 2010. Participants were asked extensive questions about what they ate and drank over the previous 24 hours.

The study found:

—On any given day, about one-third of men and one-fifth of women consumed calories from beer, wine or liquor.

—Averaged out to all adults, the average guy drinks 150 calories from alcohol each day, or the equivalent of a can of Budweiser.

—The average woman drinks about 50 calories, or roughly half a glass of wine.

—Men drink mostly beer. For women, there was no clear favorite among alcoholic beverages.

—There was no racial or ethnic difference in average calories consumed from alcoholic beverages. But there was an age difference, with younger adults putting more of it away.

For reference, a 12-ounce can of regular Coca-Cola has 140 calories, slightly less than a same-sized can of regular Bud. A 5-ounce glass of wine is around 100 calories.

In September, New York City approved an unprecedented measure cracking down on giant sodas, those bigger than 16 ounces, or half a liter. It will take effect in March and bans sales of drinks that large at restaurants, cafeterias and concession stands.

Should New York officials now start cracking down on tall-boy beers and monster margaritas?

There are no plans for that, city health department officials said, adding in a statement that while studies show that sugary drinks are "a key driver of the obesity epidemic," alcohol is not.

Health officials should think about enacting policies to limit alcoholic intake, but New York's focus on sodas is appropriate, said Margo Wootan, director of nutrition policy for the Center for Science in the Public Interest, a public health advocacy group.

Soda and sweetened beverages are the bigger problem, especially when it comes to kids — the No. 1 source of calories in the U.S. diet, she said.

"In New York City, it was smart to start with sugary drinks. Let's see how it goes and then think about next steps," she said.

However, she lamented that the Obama administration is planning to exempt alcoholic beverages from proposed federal regulations requiring calorie labeling on restaurant menus.

It could set up a confusing scenario in which, say, a raspberry iced tea may have a calorie count listed, while an alcohol-laden Long Island Iced Tea — with more than four times as many calories — doesn't. "It could give people the wrong idea," she said.

___

Online:

CDC report: http://www.cdc.gov/nchs/

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Wall Street drops on deficit, Middle East concerns

NEW YORK (Reuters) - Stocks slid on Wednesday with declines accelerating after President Barack Obama set up a drawn-out fight over the fiscal cliff when he stuck to his pledge to raise taxes on the wealthy, and as violence increased in the Middle East.

Obama, in his first press conference since re-election, held to his position that marginal tax rates will have to rise to tackle the nation's deficits.

With talks over solving the U.S. "fiscal cliff" in early stages, investors are reacting to the uncertainty by shedding positions.

"I think we will have a last-minute cliffhanger solution," said Michael Cheah, portfolio manager at SunAmerica Asset Management in Jersey City, New Jersey, about a deal to avoid the so-called cliff.

"In the meantime, the market is going to get punched every day."

Without a deal, a series of mandated tax hikes and spending cuts will start to take effect early next year that could push the U.S. economy into a recession.

Taxes on capital gains and dividends could rise as part of the negotiations, pushing investors to sell this year and pay lower taxes on their gains.

Adding to the selling pressure, Israel launched a major offensive against Palestinian militants in Gaza, killing the military commander of Hamas in an air strike and threatening an invasion of the enclave. Egypt said it recalled its ambassador from Israel in response.

"We know Europe's in trouble, China's slowing down ... and now you've got the Middle East flaring up again. It's all hitting at once, and obviously, the market is taking a 'sell first, ask questions later' approach," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.

Industrial shares led the decline, dragged lower in part by a 1 percent spike in crude prices after the Israeli offensive on Gaza. The S&P industrial sector index <.gspi> fell 2.5 percent.

Wall Street had opened higher after Dow component Cisco Systems Inc reported first-quarter earnings and revenue late Tuesday that beat expectations, driving its stock up 4.8 percent to $17.66. But the positive momentum was short-lived.

The Dow Jones industrial average <.dji> fell 185.23 points, or 1.45 percent, to 12,570.95 at the close. The S&P 500 <.spx> dropped 19.04 points, or 1.39 percent, to 1,355.49. The Nasdaq Composite <.ixic> lost 37.08 points, or 1.29 percent, to 2,846.81.

Both the Dow industrials and the Nasdaq ended at their lowest levels since late June.

The S&P 500 has fallen 5.1 percent in the six sessions since election night. Wednesday marked the benchmark index's lowest close since July 25.

The Russell 2000 <.rut> tumbled 2 percent. The Dow Jones Transportation average <.djt> slid 2.6 percent. FedEx Corp shares dropped 3.7 percent to $87.12. Bank of America shares lost 3.6 percent to $8.99.

In contrast, Facebook shares jumped 12.6 percent to $22.36 as investors were relieved that expiring trading restrictions on a huge block of shares did not trigger an immediate wave of insider selling.

Teen clothing retailer Abercrombie & Fitch Co jumped 34.4 percent to $41.92 after the company reported unexpectedly improved third-quarter results and a full-year outlook that exceeded Wall Street's forecasts.

About 7.53 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, more than the daily average so far this year of about 6.51 billion shares.

On the NYSE, decliners outnumbered advancers by a ratio of almost 9 to 1. On the Nasdaq, about four stocks fell for every one that rose.

(Reporting by Rodrigo Campos; Additional reporting by Steven C. Johnson and Leah Schnurr; Editing by Jan Paschal)

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France Grants Its Recognition to Syria Rebels

Javier Manzano/Agence France-Presse — Getty Images

Smoke billowed from burning tires as a Syria rebel fired towards regime forces during clashes in the Al-Amariya district of Aleppo in Syria on Tuesday.

PARIS — France announced Tuesday that it was recognizing the newly formed Syrian rebel coalition and would consider arming the group, seeking to inject momentum into a broad Western and Arab effort to build a viable and effective opposition that would hasten the end of a stalemated civil war that has destabilized the Middle East.

The announcement by President François Hollande made France the first Western country to fully embrace the new coalition, which came together this past weekend under Western pressure after days of difficult negotiations in Doha, Qatar.

The goal was to make an opposition leadership — both inside and outside the country — representative of the array of Syrian groups pressing for the downfall of President Bashar al-Assad. Although Mr. Assad is increasingly isolated as his country descends further into mayhem and despair after 20 months of conflict, he has survived partly because of the disagreements and lack of unity among his opponents.

Throughout the conflict, the West has taken half measures and been reluctant to back an aggressive effort to oust Mr. Assad. This appears to be the first time that Western nations, with Arab allies, are determined to build a viable opposition leadership that can ultimately function as a government. Whether it can succeed remains unclear.

Mr. Hollande went beyond other Western pledges of support for the new Syrian umbrella rebel group, which calls itself the National Coalition of Syrian Revolutionary and Opposition Forces. But Mr. Hollande’s announcement clearly signaled expectations that if the group can establish political legitimacy and an operational structure inside Syria, creating an alternative to the Assad family’s four decades in power, it will be rewarded with further recognition, money and possibly weapons.

“I announce that France recognizes the Syrian National Coalition as the sole representative of the Syrian people and thus as the future provisional government of a democratic Syria and to bring an end to Bashar al-Assad’s regime,” said Mr. Hollande, who has been one of the Syrian president’s harshest critics.

As for weapons, Mr. Hollande said, France had not supported arming the rebels up to now, but “with the coalition, as soon as it is a legitimate government of Syria, this question will be looked at by France, but also by all countries that recognize this government.”

Political analysts called Mr. Hollande’s announcement an important moment in the Syrian conflict, which began as a peaceful Arab Spring uprising in March 2011. It was harshly suppressed by Mr. Assad, turned into a civil war and has left nearly 40,000 Syrians dead, displaced about 2.5 million and forced more than 400,000 to flee to neighboring countries, according to international relief agencies.

“It’s certainly another page of the story,” Augustus Richard Norton, a professor of international relations at Boston University and an expert on Middle East political history, said of the French announcement. “I think it’s important. But it will be much more important if other countries follow suit. I don’t think we’re quite there yet.”

Some drew an analogy to France’s leading role in the early days of the Libyan uprising when it helped funnel aid, and later military support, to the rebels who had firmly established themselves in eastern Libya and would later topple Col. Muammar el-Qaddafi. But in Syria, rebels have not been as organized and have no hold on significant amounts of territory — at least not enough to create a provisional government that could resist Mr. Assad’s military assaults. The West has also refused, so far, to impose a no-fly zone over Syria, which was critical to the success of the Libyan uprising.

Andrew J. Tabler, a Syria expert at the Washington Institute for Near East Policy, said that the new coalition would have to create a secure zone in Syria to be successful, and that that step would require support from the United States, which was instrumental in the negotiations that led to the group’s creation but has not yet committed to giving it full recognition.

What the French have done, Mr. Tabler said, is significant because they have started the process of broader recognition, putting pressure on the group to succeed. “They’ve decided to back this umbrella organization and hope that it has some kind of political legitimacy and keep it from going to extremists,” he said. “It’s a gamble. The gamble is that it will stiffen the backs of the opposition.”

Steven Erlanger reported from Paris, and Rick Gladstone from New York. Reporting was contributed by Neil MacFarquhar and Hwaida Saad from Beirut, Lebanon; Nick Cumming-Bruce from Geneva; and Richard Berry from Paris.

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The Voice Sends Two Contestants Home

TV Watch

The Voice

By Julia Haskins

11/13/2012 at 10:20 PM EST

Adam Levine and Christina Aguilera

Christopher Polk/Getty

It was a great night for Teams Cee Lo and Adam on The Voice Tuesday. And though not everyone got good news on elimination night, there were plenty of entertaining performances from the coaches and contestants alike.

To open the night, Christina Aguilera and Green performed the world premiere of "Make the World Move," from her new album Lotus. Guest Jason Aldean also took the stage, and Blake Shelton rocked out with his team to Tom Cochrane's "Life is a Highway."

Green's Trevin Hunte, Nicholas David and Cody Belew came together for a '70s inspired – bell bottoms and all! – performance of the Bee Gee's "Stayin' Alive." But was it a sign of things to come? Keep reading for all the results ...

All of Green's singers as well as Levine's Bryan Keith, Melanie Martinez and Amanda Brown felt the love from viewers at home, and will have another shot at next week's show.

America also saved Aguilera's Sylvia Yacoub and Dez Duron, and Shelton's Cassadee Pope and Terry McDermott.

But without enough votes to keep them in the competition, Team Aguilera's Adriana Louise and Team Blake's Michaela Paige said goodbye.

Aguilera consoled Louise by reminding her that even she didn't win Star Search, but still made it to superstardom. Louise was grateful for all her coach's support. "You believed in me more than I believed in myself," she told Aguilera through tears.

Paige also enjoyed an uplifting experience on The Voice. "If I inspired anyone, that's all I wanted to do," Paige said. "Follow your dreams and believe in your heart." But her coach Shelton isn't too concerned about the aspiring singer's future.

"Her big old mohawk is going to be walking across the stage at the Grammys," he said, "and I can't wait."

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Report: FDA wanted to close Mass pharmacy in 2003

WASHINGTON (AP) — Nearly a decade ago, federal health inspectors wanted to shut down the pharmacy linked to a recent deadly meningitis outbreak until it cleaned up its operations, according to congressional investigators.

About 440 people have been sickened by contaminated steroid shots distributed by New England Compounding Center, and more than 32 deaths have been reported since the outbreak began in September, according to the Centers for Disease Control and Prevention. That has put the Framingham, Mass.-based pharmacy at the center of congressional scrutiny and calls for greater regulation of compounding pharmacies, which make individualized medications for patients and have long operated in a legal gray area between state and federal laws.

The House Energy and Commerce Committee released a detailed history of NECC's regulatory troubles on Monday, ahead of a meeting Wednesday meeting to examine how the outbreak could have been prevented. The 25-page report summarizes and quotes from FDA and state inspection memos, though the committee declined to release the original documents.

The report shows that after several problematic incidents, Food and Drug Administration officials in 2003 suggested that the compounding pharmacy be "prohibited from manufacturing" until it improved its operations. But FDA regulators deferred to their counterparts in Massachusetts, who ultimately reached an agreement with the pharmacy to settle concerns about the quality of its prescription injections.

The congressional report also shows that in 2003 the FDA considered the company a pharmacy. That's significant because in recent weeks public health officials have charged that NECC was operating more as a manufacturer than a pharmacy, shipping thousands of doses of drugs to all 50 states instead of small batches of drugs to individual patients. Manufacturers are regulated by the FDA and are subject to stricter quality standards than pharmacies.

The report offers the most detailed account yet of the numerous regulatory complaints against the pharmacy, which nearly date back to its founding in 1998. Less than a year later, the company was cited by the state pharmacy board for providing doctors with blank prescription pads with NECC's information. Such promotional items are illegal in Massachusetts and the pharmacy's owner and director, Barry Cadden, received an informal reprimand, according to documents summarized by the committee.

Cadden was subject to several other complaints involving unprofessional conduct in coming years, but first came to the FDA's attention in 2002. Here are some key events from the report highlighting the company's early troubles with state and federal authorities:

__ In March of 2002 the FDA began investigating reports that five patients had become dizzy and short of breath after receiving NECC's compounded betamethasone repository injection, a steroid used to treat joint pain and arthritis that's different from the one linked to the current meningitis outbreak.

FDA inspectors visited NECC on April 9 and said Cadden was initially cooperative in turning over records about production of the drug. But during a second day of inspections, Cadden told officials "that he was no longer willing to provide us with any additional records," according to an FDA report cited by congressional investigators. The inspectors ultimately issued a report citing NECC for poor sterility and record-keeping practices but said that "this FDA investigation could not proceed to any definitive resolution," because of "problems/barriers that were encountered throughout the inspection."

__ In October of 2002, the FDA received new reports that two patients at a Rochester, N.Y., hospital came down with symptoms of bacterial meningitis after receiving a different NECC injection. The steroid, methylprednisolone acetate, is the same injectable linked to the current outbreak and is typically is used to treat back pain. Both patients were treated with antibiotics and eventually recovered, according to FDA documents cited by the committee.

When officials from the FDA and Massachusetts Board of Pharmacy visited NECC later in the month, Cadden said vials of the steroid returned by the hospital had tested negative for bacterial contamination. But when FDA scientists tested samples of the drug collected in New York they found bacterial contamination in four out of 14 vials sampled. It is not entirely clear whether FDA tested the same lot shipped to the Rochester hospital.

__ At a February 2003 meeting between state and federal officials, FDA staff emphasized "the potential for serious public consequences if NECC's compounding practices, in particular those relating to sterile products, are not improved." The agency issued a list of problems uncovered in its inspection to NECC, including a failure to verify if sterile drugs met safety standards.

But the agency decided to let Massachusetts officials take the lead in regulating the company, since pharmacies are typically regulated at the state level. It was decided that "the state would be in a better position to gain compliance or take regulatory action against NECC as necessary," according to a summary of the meeting quoted by investigators.

The FDA recommended the state subject NECC to a consent agreement, which would require the company to pass certain quality tests to continue operating. But congressional investigators say Massachusetts Board of Pharmacy did not take any action until "well over a year later."

__ In October 2004, the board sent a proposed consent agreement to Cadden, which would have included a formal reprimand and a three-year probationary period for the company's registration. The case ended without disciplinary action in 2006, when NECC agreed to a less severe consent decree with the state.

Massachusetts officials indicated Tuesday they are still investigating why NECC escaped the more severe penalty.

"I will not be satisfied until we know the full story behind this decision," the state's interim health commissioner Lauren Smith said in a transcript of her prepared testimony released a day ahead of delivery. Smith is one of several witnesses scheduled to testify Wednesday, including FDA Commissioner Margaret Hamburg.

The committee will also hear from the widow of 78-year-old Eddie C. Lovelace, a longtime circuit court judge in southern Kentucky. Autopsy results confirmed Lovelace received fungus-contaminated steroid injections that led to his death Sept. 17.

Joyce Lovelace will urge lawmakers to work together on legislation to stop future outbreaks caused by compounded drugs, according to a draft of her testimony.

"We now know that New England Compounding Pharmacy, Inc. killed Eddie. I have lost my soulmate and life's partner with whom I worked side by side, day after day for more than fifty years," Lovelace states.

Barry Cadden is also scheduled to appear at the hearing, after lawmakers issued a subpoena to compel him to attend.

The NECC has been closed since early last month, and Massachusetts officials have taken steps to permanently revoke its license. The pharmacy has recalled all the products it makes, including 17,700 single-dose vials of a steroid that tested positive for the fungus tied to the outbreak.

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Microsoft leads Wall Street lower, but retailers gain

NEW YORK (Reuters) - Stocks sold off late in the session on Tuesday, led by a slide in Microsoft shares, though retailers were a notable bright spot after Home Depot raised its outlook.

Microsoft Corp was the most actively traded on Nasdaq, weighing on the tech-heavy Nasdaq Composite after the surprising departure of a key executive. The stock fell 3.2 percent to $27.09.

After the closing bell, Cisco Systems shares rose 6.8 percent to $18 after it reported quarterly revenue and earnings that beat analysts' estimates.

Home Depot shares hit during the regular session levels not seen since April 2000 and the company's raised outlook suggested a revival in the long-dormant U.S. housing market. The S&P retail sector index <.spxrt> advanced 1 percent.

"Home Depot did say something about housing, which was perceived as positive and was behind the earlier rally," said Richard Sichel, chief investment officer at Philadelphia Trust Co.

"That was tempered by Microsoft, to some extent, and probably more so by the 'fiscal cliff,'" he said.

The S&P 500 is down 2.7 percent so far this month and closed below its 200-day moving average for a fourth day in a row, a technical indicator that suggests the recent declines could gain momentum. The moving average is currently at 1,381.58, and failure to rise above that level suggests market weakness.

Concerns about the looming "fiscal cliff" kept investor activity subdued as lawmakers returned to Washington after the November 6 election, when President Barack Obama won a second term while Democrats added to their margin in the U.S. Senate and picked up seats in the House of Representatives.

The market is grappling with how a divided U.S. Congress will deal with the series of mandated tax hikes and spending cuts that start to take effect next year and could take the world's largest economy back into recession. However, serious negotiations are still weeks away, analysts said.

The Dow Jones industrial average <.dji> fell 58.90 points, or 0.46 percent, to 12,756.18 at the close. The S&P 500 <.spx> dropped 5.50 points, or 0.40 percent, to 1,374.53. The Nasdaq Composite <.ixic> lost 20.37 points, or 0.70 percent, to 2,883.89.

Dow component Home Depot Inc raised its full-year outlook even before accounting for any future lift in sales in the aftermath of super storm Sandy, as the retailer benefited from a recent uptick in the U.S. housing market. Home Depot's stock rose 3.6 percent to $63.38, its highest close in more than 12 years.

TJX Cos , which owns the Marshalls and T.J. Maxx retail chains, reported results that beat analysts' forecasts and its shares added 2.7 percent to $42.06.

Microsoft shares fell after Steve Sinofsky, head of the Windows unit, left the company. Sinofsky was considered the driving force behind Windows, the company's biggest product.

Technology shares led the market's decline, with an S&P technology index <.gspt> down 0.8 percent.

AK Steel Holding shares fell 17.6 percent to $4.50 after the company forecast a fourth-quarter loss.

Just over 6.2 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average during November last year of 7.33 billion shares.

More than two issues fell for every one that rose on both the NYSE and the Nasdaq.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

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