Kutcher takes on tech idol Steve Jobs in 'jOBS'

PARK CITY, Utah (AP) — Ashton Kutcher says playing Steve Jobs on screen "was honestly one of the most terrifying things I've ever tried to do in my life."

The 34-year-old actor helped premiere the biopic "jOBS" Friday, which was the closing-night film at the Sundance Film Festival.

Kutcher plays the Apple Inc. founder from the company's humble origins in the 1970s until the launch of the first iPod in 2001. A digital entrepreneur himself, Kutcher said he considers Jobs a personal hero.

"He's a guy who failed and got back on the horse," Kutcher said. "I think we can all sort of relate to that at some point in life."

Kutcher even embodied the Jobs character as he pursued his own high-tech interests off-screen.

"What was nice was when I was preparing for the character, I could still work on product development for technology companies, and I would sort of stay in character, in the mode of the character," he said. "But I didn't feel like I was compromising the work on the film by working on technology stuff because it was pretty much in the same field."

But playing the real-life tech icon who died in 2011 still felt risky, he said, because "he's fresh in our minds."

"It was kind of like throwing myself into this gauntlet of, I know, massive amounts of criticism because somebody's going to go 'well, it wasn't exactly...,'" Kutcher said.

While the filmmakers say they tried to be as historically accurate as possible, there was also a disclaimer at the very end of the credits that said portions of the film might not be completely accurate.

Still, realism was always the focus for Kutcher, who watched "hundreds of hours of footage," listened to Jobs' past speeches and interviewed several of his friends to prepare for the role.

The actor even adopted the entrepreneur's "fruitarian diet," which he said "can lead to some serious issues."

"I ended up in the hospital two days before we started shooting the movie," he said. "I was like doubled over in pain, and my pancreas levels were completely out of whack, which was completely terrifying, considering everything."

Jobs died of complications from pancreatic cancer.

Still, Kutcher was up to the challenge of playing Jobs, in part because of his admiration for the man who created the Macintosh computer and the iPod.

"I admire this man so much and what he's done. I admire the way he built things," Kutcher said. "This guy created a tool that we use every day in our life, and he believed in it when nobody else did."

The film also shows Jobs' less appealing side, withholding stock options from some of the company's original employees and denying child support to the mother of his eldest child.

Kutcher still found the man inspiring. Jobs had a singular focus, Kutcher said, and felt like anyone could change the world.

"I don't know if there's ever been an entrepreneur who's had more compassion and care for his consumer than Steve Jobs," Kutcher said. "He wanted to put something in your hand that you could use and you could use it easily... and he really cared about that."

___

AP Entertainment Writer Sandy Cohen is on Twitter: www.twitter.com/APSandy.

Read More..

Religious Groups and Employers Battle Contraception Mandate

Shawn Thew/European Pressphoto Agency

President Obama, with his health secretary, Kathleen Sebelius, offering a compromise on the contraception mandate last year.

In a flood of lawsuits, Roman Catholics, evangelicals and Mennonites are challenging a provision in the new health care law that requires employers to cover birth control in employee health plans — a high-stakes clash between religious freedom and health care access that appears headed to the Supreme Court.

In recent months, federal courts have seen dozens of lawsuits brought not only by religious institutions like Catholic dioceses but also by private employers ranging from a pizza mogul to produce transporters who say the government is forcing them to violate core tenets of their faith. Some have been turned away by judges convinced that access to contraception is a vital health need and a compelling state interest. Others have been told that their beliefs appear to outweigh any state interest and that they may hold off complying with the law until their cases have been judged. New suits are filed nearly weekly.

“This is highly likely to end up at the Supreme Court,” said Douglas Laycock, a law professor at the University of Virginia and one of the country’s top scholars on church-state conflicts. “There are so many cases, and we are already getting strong disagreements among the circuit courts.”

President Obama’s health care law, known as the Affordable Care Act, was the most fought-over piece of legislation in his first term and was the focus of a highly contentious Supreme Court decision last year that found it to be constitutional.

But a provision requiring the full coverage of contraception remains a matter of fierce controversy. The law says that companies must fully cover all “contraceptive methods and sterilization procedures” approved by the Food and Drug Administration, including “morning-after pills” and intrauterine devices whose effects some contend are akin to abortion.

As applied by the Health and Human Services Department, the law offers an exemption for “religious employers,” meaning those who meet a four-part test: that their purpose is to inculcate religious values, that they primarily employ and serve people who share their religious tenets, and that they are nonprofit groups under federal tax law.

But many institutions, including religious schools and colleges, do not meet those criteria because they employ and teach members of other religions and have a broader purpose than inculcating religious values.

“We represent a Catholic college founded by Benedictine monks,” said Kyle Duncan, general counsel of the Becket Fund for Religious Liberty, which has brought a number of the cases to court. “They don’t qualify as a house of worship and don’t turn away people in hiring or as students because they are not Catholic.”

In that case, involving Belmont Abbey College in North Carolina, a federal appeals court panel in Washington told the college last month that it could hold off on complying with the law while the federal government works on a promised exemption for religiously-affiliated institutions. The court told the government that it wanted an update by mid-February.

Defenders of the provision say employers may not be permitted to impose their views on employees, especially when something so central as health care is concerned.

“Ninety-nine percent of women use contraceptives at some time in their lives,” said Judy Waxman, a vice president of the National Women’s Law Center, which filed a brief supporting the government in one of the cases. “There is a strong and legitimate government interest because it affects the health of women and babies.”

She added, referring to the Centers for Disease Control and Prevention, “Contraception was declared by the C.D.C. to be one of the 10 greatest public health achievements of the 20th century.”

Officials at the Justice Department and the Health and Human Services Department declined to comment, saying the cases were pending.

A compromise for religious institutions may be worked out. The government hopes that by placing the burden on insurance companies rather than on the organizations, the objections will be overcome. Even more challenging cases involve private companies run by people who reject all or many forms of contraception.

The Alliance Defending Freedom — like Becket, a conservative group — has brought a case on behalf of Hercules Industries, a company based in Denver that makes sheet metal products. It was granted an injunction by a judge in Colorado who said the religious values of the family owners were infringed by the law.

“Two-thirds of the cases have had injunctions against Obamacare, and most are headed to courts of appeals,” said Matt Bowman, senior legal counsel for the alliance. “It is clear that a substantial number of these cases will vindicate religious freedom over Obamacare. But it seems likely that the Supreme Court will ultimately resolve the dispute.”

The timing of these cases remains in flux. Half a dozen will probably be argued by this summer, perhaps in time for inclusion on the Supreme Court’s docket next term. So far, two- and three-judge panels on four federal appeals courts have weighed in, granting some injunctions while denying others.

One of the biggest cases involves Hobby Lobby, which started as a picture framing shop in an Oklahoma City garage with $600 and is now one of the country’s largest arts and crafts retailers, with more than 500 stores in 41 states.

David Green, the company’s founder, is an evangelical Christian who says he runs his company on biblical principles, including closing on Sunday so employees can be with their families, paying nearly double the minimum wage and providing employees with comprehensive health insurance.

Mr. Green does not object to covering contraception but considers morning-after pills to be abortion-inducing and therefore wrong.

“Our family is now being forced to choose between following the laws of the land that we love or maintaining the religious beliefs that have made our business successful and have supported our family and thousands of our employees and their families,” Mr. Green said in a statement. “We simply cannot abandon our religious beliefs to comply with this mandate.”

The United States Court of Appeals for the 10th Circuit last month turned down his family’s request for a preliminary injunction, but the company has found a legal way to delay compliance for some months.

Read More..

Hackers take over sentencing commission website

Aaron Swartz, shown in 2009, had written on his blog about his history of depression. (Michael Francis McElroy / Associated Press / January 30, 2009)

Associated Press

January 26, 2013, 9:26 a.m.

The hacker-activist group Anonymous says it hijacked the website of the U.S. Sentencing Commission to avenge the death of Aaron Swartz, an Internet activist who committed suicide. The FBI is investigating.

The website of the commission, an independent agency of the judicial branch, was taken over early Saturday and replaced with a message warning that when Swartz killed himself two weeks ago "a line was crossed."

The hackers say they've infiltrated several government computer systems and copied secret information that they now threaten to make public.

Family and friends of Swartz, who helped create Reddit and RSS, say he killed himself after he was hounded by federal prosecutors. Officials say he helped post millions of court documents for free online and that he illegally downloaded millions of academic articles from an online clearinghouse.

The FBI's Richard McFeely, executive assistant director of the Criminal, Cyber, Response, and Services Branch, said in a statement that "we were aware as soon as it happened and are handling it as a criminal investigation. We are always concerned when someone illegally accesses another person's or government agency's network."

Comments are filtered for language and registration is required. The Times makes no guarantee of comments' factual accuracy. Readers may report inappropriate comments by clicking the Report Abuse link next to a comment. Here are the full legal terms you agree to by using this comment form.

';
shareDiv.innerHTML = templateHTML;

/* append the new div to the end of the document, which is hidden already with CSS */
document.body.appendChild(shareDiv);

/* Store the div in both a regular JavaScript variable and as a jQuery object so we can reference them faster later */
var shareTip = document.getElementById('shareTip'),
$shareTip = $('#shareTip');

/* This extends our settings object with any user-defined settings passed to the function and returns the jQuery object shareTip
was called on */
return this.each(function() {
if (options) {
$.extend(settings, options);
}

/* This is a hack to make sure the shareTip always fades back to 100% opacity */
var checkOpacity = function (){
if ( $shareTip.css('opacity') !== 1 ){
$shareTip.css({'opacity': 1});
}
};

/* Function that replaces the HTML in the shareTip with the template we defined at the top */
/* It will wipe/reset the links on the social media buttons each time the function is called */
var removeLinks = function (){
shareTip.innerHTML = templateHTML;
};

/* This is the function that makes the links for the Tweet / Share functionality */

var makeURLS = function (link, message){
/* Here we construct the Tweet URL using an array, with values passed to the function */
var tweetConstruct = [
'http://twitter.com/share?url=', link, '&text=', message, '&via=', settings.twitter_account
],
/* Then join the array into one chunk of HTML */
tweetURL = tweetConstruct.join(''),

/* Same story for Facebook */
fbConstruct = [
'http://www.facebook.com/sharer.php?u=', link, '&src=sp'
],

fbURL = fbConstruct.join(''),

newHTML = [
''
],
shareHTML = newHTML.join('');
/* Load in our new HTML */
shareTip.innerHTML = shareHTML;
};

/* Since the shareTip will automatically fade out when the user mouses out of an element */
/* we have to specifically tell the shareTip we want it to stay put when the user mouses over it */
/* This effectively gives the user a 500 ms (or whatever) window to mouse */
/* from the element to the shareTip to prevent it from popping out */
$shareTip.hover(function(){
$shareTip.stop(true, true);
$shareTip.show();
checkOpacity();
}, function(){
$(this).fadeOut(settings.speed);
});

/* This function handles the hover action */
$(this).hover(function(){
/* remove the old links, so someone doesn't accidentally click on them */
removeLinks();

/* If there's already an animation running on the shareTip, stop it */
$shareTip.stop(true, true);

var eso = $(this),
message,
/* Store the width and height of the shareTip and the offset of the element for our calculations */
height = eso.height(),
width = eso.width(),
offset = eso.offset(),
link;


link = eso.children('a').attr('href');
message = escape( eso.find('img').attr('alt') ) || eso.attr(settings.message_attr);

if (link.search('http://') === -1){
link = 'http://www.latimes.com' + link;
}
link = encodeURIComponent(link);

/* If it's at the top of the page, the shareTip will pop under the element */
if (offset.top

Read More..

Court rules Obama recess appointments unconstitutional

WASHINGTON — A federal appeals court, dealing a defeat to President Obama, has sharply limited the chief executive’s power to bypass the Senate and to make temporary “recess” appointments to fill vacant slots in government agencies.

The Court of Appeals for the D.C. Circuit, in a 3-0 ruling,  said the president can make recess appointments only when the Senate has formally adjourned between sessions of Congress, not when lawmakers leave Washington for a brief break.

The Obama administration is almost certain to appeal the decision to the Supreme Court. But if the ruling stands, it strengthens the power of the Senate’s Republican minority at the expense of Obama and the Democrats.

PHOTOS: President Obama’s second inauguration

During his first term, Senate Republicans, led by Minority Leader Mitch McConnell (R-Ky), refused to approve Obama’s nominees for several agencies, including the National Labor Relations Board and the new Consumer Financial Protection Agency created in the wake of the Wall Street collapse of 2008. McConnell could rely on the filibuster rule by which the minority can block a vote by the majority.

In response, Obama invoked his power under the Constitution “to fill up all vacancies that may happen during the recess of the Senate.” Obama used this authority last January to appoint several new members to the National Labor Relations Board, ensuring the group had the necessary three members to make decisions. In addition to the NLRB appointments, Obama also installed Richard Cordray as director of the Consumer Financial Protection Bureau at the same time.

Business groups and Senate Republicans challenged the move, arguing the Senate was not truly in recess last January when it was out of session for several days.

In Friday’s decision, Chief Judge David Sentelle ruled for the challengers and said a “recess” refers to the break when Congress formally adjourns after a two-year session.

“An interpretation of 'the Recess' that permits the President to decide when the Senate is in recess would demolish the checks and balances inherent in the advice-and-consent requirement, giving the President free rein to appoint his desired nominees at any time he pleases, whether that time be a weekend, lunch, or even when the Senate is in session and he is merely displeased with its inaction. This cannot be the law,” said Sentelle, an appointee of President Reagan. He was joined by Judges Karen Henderson and Thomas Griffith, who are also Republican appointees.

PHOTOS: President Obama’s past

Cordray’s appointment is being challenged in U.S. District Court in Washington, D.C., in a separate lawsuit by a Texas bank and two free-market advocacy groups. They also claim the appointment was unconstitutional because the Senate was not in a formal recess. The suit is pending.

On Thursday, Obama renominated Cordray to the five-year term as director of the 2-year-old agency. Cordray’s recess appointment expires at the end of the year.

Obama said Thursday that Cordray was qualified for the position, but “he wasn’t allowed an up or down vote in the Senate, and as a consequence, I took action to appoint him on my own.”

Staff writer Jim Puzzanghera contributed to this report.

Follow Politics Now on Twitter and Facebook

david.savage@latimes.com

Read More..

DUST 514, Online Shooter Set in EVE Online Universe, Enters Open Beta

First announced in 2009, CCP Games’ online first-person shooter tie-in to its popular sci-fi MMO, EVE Online, was finally released as an open beta on Tuesday. Called DUST 514, it allows PlayStation 3 owners to play in the same world as EVE Online, fighting ground battles while EVE Online pilots contest star systems. The results of DUST 514 matches affect worlds and in-game corporations in EVE Online, and EVE Online players can even use starship weaponry to bombard the planets DUST 514 matches take place on.

Introducing New Eden

EVE Online and DUST 514 take place in a distant star cluster called New Eden. In a scenario sort of like ” Stargate” meets ” Star Trek: Voyager,” human space explorers found themselves trapped in New Eden, impossibly far from Earth, after using a one-way portal. Many thousands of years later, their descendants have formed completely new nations and ethnicities, and fight each other in space and on the ground over resources or ideology.

The most difficult MMO ever?

Widely regarded as very difficult — a popular infographic depicts EVE’s learning curve as a sheer cliff littered with stick figure bodies — EVE Online is also known for its byzantine politics, which take place completely between players. Player-run alliances sink years into building enormous spacecraft, which can vanish in a single battle or thanks to one person’s treachery.

A study in contrasts

DUST 514 is only available on the PlayStation 3 console, whereas EVE Online is for Windows PCs and Macs. DUST 514 is free to play and has no monthly fee, while EVE costs money to start and up to $ 14.95 per month (although there’s an expensive in-game item which can be used to offset this fee). But perhaps the biggest contrast is the level of commitment required. Instead of managing a whole spacecraft and needing to keep track of where it’s docked, DUST 514 players can just jump into instant battles, and are rewarded with experience and in-game currency each time.

Since the two games were linked together just a few weeks ago, however, EVE Online politics are beginning to affect DUST 514, and groups of players are getting drawn into its conflicts — or being sent by EVE in-game alliances to fight for them.

A work in progress

DUST 514 still bears the “beta” tag, and the end-user license agreement reminds players of this, even pointing out that CCP Games may choose to reset players’ gear and experience points at some time in the future. It has a very limited number of planet environments and only two styles of play, which basically amount to capture the flag and team deathmatch. CCP continues to develop DUST, however, promising that even more content will be available in the future.

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: DUST 514, Online Shooter Set in EVE Online Universe, Enters Open Beta
Url Post: http://www.news.fluser.com/dust-514-online-shooter-set-in-eve-online-universe-enters-open-beta/
Link To Post : DUST 514, Online Shooter Set in EVE Online Universe, Enters Open Beta
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..

Shakespeare, his work, come to life in PBS series

LOS ANGELES (AP) — Jeremy Irons has a suggestion for "Downton Abbey" fans: Give William Shakespeare a try, too.

Irons is among the prominent hosts of "Shakespeare Uncovered," an inventive series tracing the origins of eight of the writer's plays through a combination of history, new analysis, selected scenes — and, for Irons, a gallop on horseback across a fabled battlefield.

The series begins 9 p.m.-11 p.m. EST Friday (check local listings) on PBS, which happens to be the home of the hit period soap opera, "Downton Abbey."

"Shakespeare Uncovered," along with PBS' planned fall airing of new films of four of Shakespeare's plays, "open up to this huge American audience this gold dust," Irons told reporters recently, and demonstrates that TV "doesn't end with 'Downton Abbey.'"

After then mischievously comparing Shakespeare to an Aston Martin and "Downton" to a Ford Fiesta, Irons admitted he hadn't seen the serial and was just having a bit of fun. But he's serious about the Bard of Avon.

"Watch these Shakespeare productions and you'll see what real writing, what real stories, what real characters are about," he said.

The programs also present actor-writer-producer Shakespeare as a 16th-century impresario who knew how to please audiences and exploit his own work by bringing back popular characters and crafting "prequels."

"Shakespeare Uncovered" opens with Ethan Hawke's exploration of "Macbeth," including visits to the play's Scottish sites, a look at recent productions starring Patrick Stewart and Antony Sher, and an illumination of Shakespeare's grasp of the criminal mind.

It's paired with "Shakespeare Uncovered: The Comedies With Joely Richardson," about "Twelfth Night" and "As You Like It."

"Richard II" with Derek Jacobi and "Henry IV" and "Henry V" with Irons air on Feb. 1, with David Tennant's look at "Hamlet" and "The Tempest" with host Trevor Nunn concluding the series on Feb. 8.

There's travel as well as scholarship for the hosts. Irons visits the battlefield at Agincourt in northern France where, in productions of "Henry V," actors get to tear into the famed St. Crispin's Day speech ("We few, we happy few, we band of brothers").

Irons, who will star this fall in PBS' "Great Performances" adaptation of "Henry IV," said he was shooting the film when he was approached by "Shakespeare Uncovered" producer Richard Denton about taking part.

"Oh, that may be interesting if we can find the time. What do you want to do?" Irons recalled asking Denton. "And he said, 'Well, I want to put you in a boat. I want to put you on a horse. I want to take you to Agincourt.'"

"This sounds very interesting," the 64-year-old actor replied, which opened the door to an unexpected education — and more opportunity for Irons' colorful and unbridled wit.

"I learned, for instance, that the reason we won the Battle of Agincourt is because we had these amazing Welsh archers," while the French, in his words, "wore amazing stuff and great armor and (had) lovely horses, and they pranced around being gorgeous."

Irons' lively approach to the subject matter dovetails with the goal of "Shakespeare Uncovered" as described by producer Denton.

"The real drive (was) to make a series of films that would be entertaining, that would show Shakespeare with the kind of enthusiasm that Jeremy brings to it," Denton said, and would be accessible to those unschooled in the playwright's work.

To please Shakespeare buffs, the programs also include fresh insights into the connection between his life and his art, he said.

The bottom line on the Bard, according to Irons: Shakespeare endures as the greatest dramatist of all because he chronicled the eternal human condition in all its joys and sorrows.

"When we see those plays now, they still speak to us with a resonance that many hundreds of plays written between Shakespeare's time and today don't," he said.

___

Online:

http://www.pbs.org

Read More..

SciTimes Update: Science News From Around the Web

Matthew Born for The New York Times

An estimated 15,000 crocodiles, like this one, have escaped from a farm in Limpopo, South Africa.

Friday in science, crocodiles on the loose, coffee fraud, a sleepy squirrel wakes up and melting glaciers. Check out these headlines from around the Web.

Crocodiles on the Loose: An estimated 15,000 crocodiles have escaped from a farm in Limpopo, South Africa, reports The Guardian. Heavy flooding forced the farmers to open their gates to keep the walls from crumbling, sweeping the crocs away down the Limpopo River. Experts say it is not easy to catch a crocodile. The best method: sneak up and grab it.

Fertility Rates Drop in Afghanistan: A drop in birth rates in Afghanistan suggests that education and health planning programs for women are making a difference, reports USA Today. The average number of children Afghan women can expect to have in their lifetime fell to 5.1 at the end of the decade from 8 in the 1990s and 6.3 in the mid-2000s , a USA Today analysis of birth data found.

Fred R. Conrad/The New York Times

Does your dog truly love you?

Animal Passion: Animals have rich emotional lives, reports Psychology Today. The magazine has republished a 2006 report about an Ohio researcher who has studied animal sadness, fear, rage, attachment and a love of play time.

New Stomach Virus: A new strain of norovirus, the cause of a dreaded intestinal illness, is circulating in the United States, The Washington Post reports. The strain, designated “GII.4 Sydney,” appeared in Australia last March. Norovirus causes vomiting and diarrhea and is responsible for 21 million cases of illness a year in this country. Hand-washing and general cleanliness are the best precautions.

We Like How We Smell: Our brains can detect our own scent and distinguish it from the smells of others, reports Discover.com. Scientists have long known that people are drawn to mates with a different smell than their own, but new research marks the first time that scientists have shown that people recognize and like their own smells.

Smokers in Jail: A proposed bill in Oregon would make nicotine a controlled substance and would make cigarette possession illegal, punishable by a year in prison or a $6,250 fine, reports LiveScience.com. Critics say the bill is overly idealistic and would be extremely difficult to implement.

Squirrels on Video: New Scientist offers a video of hibernating Arctic squirrels waking up.

Dolphins Help Dying Friend: For the first time, dolphins have been spotted teaming up to try to rescue an injured group member, reports New Scientist. You can watch the sad video here.

Yogurt Linked to Better Eating Habits: Yogurt eaters report consuming higher amounts of other good-for-you foods, like fruits, vegetables, nuts, fish and whole grains, than do people who don’t eat yogurt, reports eScience News. The study was partially funded by a yogurt maker.

Tony Cenicola/The New York Times

Food Fraud on the Rise: Food fraud – which occurs when food products are mislabeled, diluted or adulterated – is on the rise, reports CNN. The most commonly fraudulent products are olive oil, milk, saffron, honey and coffee. Fillers can be added to spices. Olive oils diluted with cheaper vegetable oil. Pomegranate juice may really be made with grape and pear juices.

An Rx for X and Z: Pharmaceutical companies eager to grab the attention of doctors and patients are returning to drug names starting with X and Z, reports Reuters via The Chicago Tribune. New names for cancer treatments include Xtandi, Xalkori, Xgeva, Zaltrap, Zelboraf and Zytiga.

People Enjoy Safe Sex: A study funded by a condom maker has found that people really like sex, with or without a condom, reports The Atlantic.

Graeme Robinson for The New York Times

Dung Beetles Are Celestial Navigators: Researchers fitted dung beetles with tiny blinders for experiments showing that the feces-eating insects rely on the stars to navigate, reports Scientific American.

Melting Glaciers: Climate change has shrunk Andean glaciers between 30 and 50 percent since the 1970s and could melt many of them away altogether in coming years, reports The Independent. Andean glaciers are a vital source of fresh water for tens of millions of South Americans.

Read More..

Stocks gain, boosted by P&G, Starbucks earnings

Stocks rose on Wall Street in midday trading Friday after Procter & Gamble and Starbucks posted strong earnings reports.

The Dow Jones industrial average rose 30 points to 13,855 as of noon Friday. The Standard & Poor's 500 advanced three points to 1,498. The Nasdaq gained eight points to 3,138.

Procter & Gamble, world's largest consumer products maker, gained $2.61 to $73.02 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks rose $1.95 to $56.54 after reporting a 13 percent increase in profits.

The S&P 500 broke through 1,500 Thursday for the first time since December 2007, following a drop in claims for unemployment benefits that added to evidence that the labor market is healing. The index fell back but still ended the day fractionally higher and extended its streak of gains to seven days, the longest since October 2006.

“Earnings are growing,” said Joe Tanious, a global market strategist at JPMorgan. “The bottom line is that corporate America is doing exceptionally well.”

Tanious expects corporate earnings to grow at about 5 percent over the “next year or two,” and stock valuations to rise. Currently, the S&P 500 is trading at an average price-to-earnings ratio of 14, below an average of 15.1 for the last decade, according to FactSet data.

Stocks have surged this month, with the S&P 500 advancing 5 percent this month. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the “fiscal cliff.” Stocks built on those gains on optimism that the housing market is recovering and the labor market is healing. The Dow Jones is up 5.7 percent on the year.

Deutsche Bank analysts raised their year-end target for the index to 1,600 from 1,575.

Companies will be able to maintain their earnings even if lawmakers in Washington decide to implement wide-ranging spending cuts to narrow the budget deficit, the analysts said in a note sent to clients late Thursday.

The yield on the 10-year Treasury note, which moves inversely to its price, climbed 5 basis points to 1.91 percent.

Among other stocks making big moves.

— Netflix climbed $19.61 to $166.47, after the stock logged its biggest single day advance Thursday on the outlook for the company's Internet video service.

— Halliburton gained $1.87 to $39.69 after posting a loss that was smaller than analysts had expected. The oilfield services company said fourth-quarter profits declined 26 percent to $669 million on increasing pricing pressure in the North American market and one-time charges from the Deepwater Horizon disaster. Wall Street had expected worse.

—Hasbro fell $1.45 to $37 after the toy maker said its fourth-quarter revenue failed to meet expectations because of poor demand over the holidays. The company plans to cut about 10 percent of its workforce and consolidate facilities to cut expenses.

— Green Mountain Coffee Roasters rose $1.10 to $44.88 after an analyst noted that sales of a competing coffee brewer introduced by Starbucks were getting off to a weak start.

Read More..

'California did the impossible,' Brown says in State of the State

SACRAMENTO -- In a strident and sweeping State of the State address, Gov. Jerry Brown declared Thursday morning that "California did the impossible," bouncing back from the precipice of fiscal collapse to emerge as an economic leader.

With references to the Bible, the history of the California republic and Irish poet William Butler Yeats, Brown mapped out a vision for the state that includes big investment in its water and rail systems and schools free of regulations that he says inhibit flexibility and creativity.

Brown also called a special session of the Legislature for implementation of President Obama's healthcare law, "to deal with those issues that must be decided quickly if California is to get the Affordable Care Act started by next January."

But he stressed that his top priority is keeping the state from falling back into financial chaos.

"We have promises to keep," Brown said, alluding to his successful campaign last fall to persuade voters to raise taxes by billions of dollars. "And the most important one we made to the people if Proposition 30 passed: that we would guard jealously the money…. Fiscal discipline is not the enemy of our good intentions but the basis for realizing them."

He praised lawmakers for helping the state dig out of its fiscal morass but also called on them to show restraint. "What we need to do for our future will require more than producing hundreds of new laws each year," Brown said.

He warned of the dangers of "constantly expanding the coercive power of government by adding each year so many minute prescriptions to our already detailed and turgid legal system."

The governor cited schools as an area where the deluge of laws has undermined good policy. Returning to one of his favorite themes, he urged lawmakers to consider the "principle of subsidiarity … the idea that a central authority should only perform those tasks which cannot be performed at a more immediate or local level."

Brown repeated the call he made earlier this month to free local districts from dozens of state mandates for school spending and to shift more state money to districts with poorer students and non-native English speakers.

He said the steady tuition hikes at the state's institutions of higher education need to stop.

"I will not let the students become the default financiers of our colleges and universities," Brown said, to standing applause in the packed Assembly chamber that held the entire Legislature.

In calling a special session on healthcare, Brown said the state will next year begin providing insurance to nearly 1 million Californians under the federal law and in the coming years will steadily reduce the number of uninsured.

But he warned of attendant risks: "The ultimate costs of expanding our healthcare system under the Affordable Care Act are unknown."

The governor also used his address to tout his ambitious plans for refurbishing the state's water systems. He acknowledged that it will be costly. But inaction, he said, would likely prove more expensive, leaving California exposed to an economic disaster on the scale of that wrought elsewhere by Hurricanes Katrina and Sandy.

The governor also made a plug for his other costly infrastructure initiative, high-speed rail. He said the United States is lagging far behind other countries in this sector, saying that even Morocco is building a high-speed train system.

He called the state's bullet-train plan, which would eventually link San Francisco and Los Angeles, bold, like "everything about California."

The governor also announced will lead a trade mission to China to strengthen California's economic ties with that country and officially open the state's new trade and investment office in Shanghai.

evan.halper@latimes.com

Read More..

TSX near 18-month high, buoyed by Agrium, RIM

TORONTO (Reuters) – Canada’s main stock index hit a near 18-month high on Thursday, as shares of Agrium Inc rose after the fertilizer maker raised its profit forecast and as U.S. manufacturing and labor data drove optimism on the economic outlook of Canada’s largest trade partner.

Shares of Research In Motion Ltd also boosted the market, rising more than 3 percent after a report that China’s Lenovo Group said a bid for the BlackBerry maker was among the options available to boost its mobile business.

Canadian stocks were also supported by data that showed Chinese manufacturing growth hit a two-year high this month. Gains were kept in check by falling gold stocks, which slipped with the price of the precious metal.

In the United States, a private survey showed that factory activity advanced at the fastest pace in nearly two years this month, while the government reported the number of Americans filing new claims for jobless benefits hit a five-year low last week.

“There’s a growing feeling that we’re heading in the right direction. The U.S. economy is showing a little bit of life, and that’s spilling over into Canada,” said Fred Ketchen, director of equity trading at ScotiaMcLeod.

The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> was up 41.36 points, or 0.32 percent, at 12,835.41, after touching 12,863.47, its highest since August 2, 2011.</.gsptse>

Seven of the 10 main sectors on the index were trading higher.

The materials sector, which includes mining stocks, slipped 0.1 percent as declines in gold stocks offset a rise in shares of fertilizer giants Agrium and Potash Corp .

Agrium rose 3.5 percent to C$ 114.55 after it raised its fourth-quarter earnings forecast as strong grain and oilseed prices spurred demand for its fertilizer products over the fall season.

Ketchen, noting the activity in Agrium shares over the past few days, said, “People are taking another look at it, thinking maybe it’s time to get back in.”

Potash was up 2.1 percent at C$ 42.77.

The energy sector gained 0.6 percent and was the biggest contributor to the market’s gains as U.S. crude oil prices rose.

Canadian Natural Resources Ltd rose 1.5 percent to C$ 30.62.

Financials, the index’s weightiest sector, added 0.4 percent. Toronto Dominion Bank

was up 0.4 percent at C$ 83.51, and the Royal Bank of Canada rose 0.3 percent to C$ 61.62.

(Editing by Jeffrey Hodgson and Leslie Adler)

Wireless News Headlines – Yahoo! News

Title Post: TSX near 18-month high, buoyed by Agrium, RIM
Url Post: http://www.news.fluser.com/tsx-near-18-month-high-buoyed-by-agrium-rim/
Link To Post : TSX near 18-month high, buoyed by Agrium, RIM
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..