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Quest: U.S. economy to dominate Davos

The United States and the sorry state of its political and budgetary process will be the center of attention at Davos, writes Quest

STORY HIGHLIGHTS

Quest: Davos is a chance to see where the political and economic landmines are in 2013

Quest: People will be speculating about how dysfunctional the U.S. political process has become

Quest: Davos has been consumed by eurozone sovereign debt crises for three years

Editor's note: Watch Quest Means Business on CNN International, 1900pm GMT weekdays. Quest Means Business is presented by CNN's foremost international business correspondent Richard Quest. Follow him on Twitter.

(CNN) -- It is that time of the year, again. Come January no sooner have the Christmas trees been taken down, as the winter sales are in full vicious flood the world of business start thinking about going to the world economic forum, better known as Davos.

For the past three years Davos has been consumed by the eurozone sovereign debt crises.

As it worsened the speculation became ever more frantic.....Will Greece leave the euro? Will the eurozone even survive? Was this all just a big German trick to run Europe? More extreme, more dramatic, more nonsense.

Can China be the biggest engine of growth for the global economy. Round and round in circles we have gone on these subjects until frankly I did wonder if there was anything else to say short of it's a horrible mess!

This year there is a new bogey man. The US and in particular the sorry state of the country's political and budgetary process will, I have little doubt, be the center of attention.

Read more: More 'cliffs' to come in new Congress

Not just because Congress fluffed its big test on the fiscal cliff, but because in doing so it created many more deadlines, any one of which could be deeply unsettling to global markets... There is the $100 billion budget cutbacks postponed for two months by the recent agreement; postponed to the end of February.

At exactly the same time as the US Treasury's ability to rob Peter to pay Paul on the debt ceiling crises comes to a head.

Read more: Both Obama, GOP set for tough talks ahead

The Treasury's "debt suspension period" is an extraordinary piece of financial chicanery that if we tried it with our credit cards would get us locked up!! Then there is the expiration of the latest continuing resolution, the authority by which congress is spending money.

There is the terrifying prospect that all these budget woes will conflate into one big political fist fight as the US faces cutbacks, default or shutdown!!

I am being alarmist. Most rational people believe that the worst sting will be taken out of this tail....not before we have all been to the edge...and back. And that is what Davos will have on its mind.

People will be speculating about how dysfunctional the US political process has become and is it broken beyond repair (if they are not asking that then they should be...)

They will be pondering which is more serious for risk...the US budget and debt crises or the Eurozone sovereign debt debacle. A classic case of between the devil and the deep blue sea.

The official topic this year is Resilient Dynamism. I have absolutely no idea what this means. None whatsoever. It is another of WEF's ersatz themes dreamt up to stimulate debate in what Martin Sorrell has beautifully terms "davosian language" In short everyone interprets it as they will.

What I will enjoy, as I do every year, is the chance to hear the global players speak and the brightest and best thinkers give us their take on the global problems the atmosphere becomes febrile as the rock-stars of finance and economics give speeches, talk on panels and give insight.

Of course comes of these musings, it never does at Davos. That's not the point. This is a chance to take stock and see where the political and economic landmines are in 2013. I like to think of Davos as the equivalent of Control/Alt/Delete. It allows us to reboot.

We leave at least having an idea of where people stand on the big issues provided you can see through the panegyrics of self congratulatory back slapping that always takes place whenever you get like minded people in one place... And this year, I predict the big issue being discussed in coffee bars, salons and fondue houses will be the United States and its budgetary woes.

PHOTOS: Miss America winners, yesterday and today

Label: Health

Miss America is in a New York state of mind.

Mallory Hagan of New York City won the beauty pageant Saturday night after tap dancing to James Brown’s “Get Up Off of That Thing” and answering a question about whether armed guards belong in grade schools by saying we should not fight violence with violence.

By capturing the crown, Hagan receives a $ 50,000 scholarship and a yearlong run as an advocate and role model.

Here, in images, is a look at some of the present and past winners:

Entertainment News Headlines – Yahoo! News

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Support for Spain’s leaders drops to a new low: poll

Label: Business

MADRID (Reuters) – Support for Spain‘s political leaders has fallen to a new low, according to a poll published by El Pais on Sunday, in the midst of a deep economic recession and record high unemployment.

In a survey by Metroscopia January 9 and 10, only 29.8 percent said they would vote for Spain’s ruling People’s Party (PP), the lowest level of support since the November 2011 election when it won an absolute majority and over half of the vote.

Spain’s economy is expected to continue to contract through 2013 and protests at austerity measures are on the rise, with over one in four workers unemployed.

The economy has shrunk for three of the last four years after the bursting of a property bubble destroyed consumer and business sentiment and left the government applying budget cuts to control one of the euro zone’s highest public deficits.

While the poll showed growing disillusionment with Spain’s leaders – 84 percent said they had little or no confidence in Prime Minister Mariano Rajoy – the main Socialist opposition also saw sliding support.

Just 23.3 percent said they would vote for the Socialists, in power from 2004 to 2011, down from 28.7 percent during the 2011 election.

Meanwhile, support jumped for the smaller left-wing IU party, up to 15.6 percent in January from 7.7 percent a year ago, and the centrist UPyD, rising to 10.2 percent from 4.6 percent in January 2012.

The poll also showed that 74 percent of those surveyed did not believe the government knew how to resolve the economic crisis, while 96 percent said there was a great deal of corruption amongst Spanish politicians.

(Reporting by Paul Day; editing by Andrew Roche)

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Qatar Airways sells stake in Cargolux carrier

Label: World

DOHA, Qatar (AP) — The head of Qatar Airways says the carrier has sold its entire 35 percent stake on the freight hauler Cargolux back to authorities in Luxembourg.

The move comes just months after Qatar Airways boosted cargo services to the U.S. via Cargolux’s base. Qatar Airways bought the 35 percent stake in Cargolux in June.

Qatar Airways CEO Akbar al-Baker says the deal was finalized Jan. 1 to sell the share back to the Luxembourg state. He told reporters Sunday that Luxembourg viewed Cargolux as a national carrier that should be fully owned by the state.

Al-Baker said the Doha-based airline is not actively seeking any new alliances or purchases, but is carefully studying reforms that could open the Indian market.

International News and Information on Yahoo! Finance

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Wall Street Week Ahead: Attention turns to financial earnings

Label: World

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.

The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.

Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.

An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.

"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"What we're looking for is demand. Demand from small business owners, from consumers."

EARNINGS AND ECONOMIC EXPECTATIONS

Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.

Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.

Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.

The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.

Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.

HOUSING, INDUSTRIAL DATA ON TAP

Next week will also feature the release of a wide range of economic data.

Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.

Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.

Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.

"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."

POLITICAL ANXIETY

Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.

The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.

Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.

The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.

"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.

The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.

"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."

(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)

Ravens shock Broncos; 49ers rout Packers

Label: Technology

The 49ers and Ravens are getting another shot at making the Super Bowl.

Losers in tight conference championship games a year ago, they are returning to the final step before the big game in the Big Easy after wins Saturday.

Baltimore took the long, frigid route, rallying at Denver for a 38-35 victory in an AFC divisional playoff. The Ravens will go to either New England, where they lost 23-20 in the conference championship match last January, or Houston. The Patriots and Texans face off Sunday in Foxborough, Mass.

San Francisco took the NFC game at night 45-31 over Green Bay behind the running and passing of quarterback Colin Kaepernick. That gave both coaching Harbaughs victories Saturday: Jim with the 49ers, John with the Ravens.

San Francisco fell in overtime to the New York Giants for the NFC title last year. The Niners will either visit Atlanta or host Seattle in next weekend's championship matchup.

The wild-card Seahawks are at the Falcons in Sunday's early game.

Second-year QB Kaepernick made Jim Harbaugh's decision to stick with him over incumbent Alex Smith during the season look brilliant. He set a playoff mark for the position by rushing for 183 yards, including a 56-yard TD, and threw for 263 yards. Kaepernick hit Michael Crabtree for two scores and Frank Gore rushed for 119 yards.

The AFC West champion Niners (12-4-1) gained 579 yards.

"It feels like we're in the same place," Crabtree said. "Winning that game last year, we're in the same place. It's just what we do the next game. It's all about the next game."

The NFC North-winning Packers (12-6) beat Minnesota in the wild-card round last weekend, but their defense was overmatched at San Francisco.

Aaron Rodgers finished 26 for 39 for 257 with two TDs and an interception.

Ravens 38, Broncos 35, 2 OT

Rookie Justin Tucker's 47-yard field goal 1:42 into the second overtime of the longest playoff game in 26 years advanced the Ravens and kept star linebacker Ray Lewis' career going at least another week.

Earlier this season, the AFC North champ Ravens (12-6) beat the Patriots 31-30 in Baltimore. They lost 43-13 at Houston.

Joe Flacco's 70-yard heave to Jacoby Jones with 31 seconds remaining forced the overtime. Flacco is the only quarterback to win playoff games in each of his first five seasons, and he heads to his third AFC championship match. He also lost to Pittsburgh in the 2008 title game.

"We fought hard to get back to this point and we're definitely proud of being here." Flacco said. "We feel like it's going to take a lot for somebody to come and kick us off that field come the AFC championship game."

Lewis announced before they beat Indianapolis in the wild-card round that this was the last of his 17 pro seasons. It's still going.

"When you look back at it and let the emotions calm down, it will probably be one of the greatest victories in Ravens history," Lewis said. "It's partly because of the way everything was stacked against us coming in."

Peyton Manning lost in his first postseason appearance with the AFC West-winning Broncos (13-4), who had won their last 11 games to earn home-field advantage in the playoffs. They wasted it by giving up long plays, negating a record-setting performance by kick returner Trindon Holliday.

Holliday ran back the second-half kickoff 104 yards for a TD. He went 90 yards with a first-quarter punt return to become the first player to score on one of each in a playoff game.

"He's one of the greatest quarterbacks of all time and for us to come in here and confuse him the way we did, and make the plays we did?" Lewis said. "We gave up two big special teams touchdowns, but the bottom line is, but we kept fighting."

Seahawks (12-5) at Falcons (13-3)

Oddly, there might be more doubts floating around the home team with the spiffy record than the visitors.

While Seattle has won six in a row, erased its reputation as a road flop with three straight away victories — including last week at Washington — and has the league's stingiest defense.

It's NFC South champ Atlanta, 0-3 in the postseason under coach Mike Smith and with Matt Ryan at quarterback, that probably faces more pressure.

"We've been disappointed a few times," said center Todd McClure, a Falcon for 13 years. "I think we've got guys in this locker room who are hungry and ready to get over that hump."

One of them is Tony Gonzalez, the career leader in nearly all receiving categories among tight ends. In 16 pro seasons, Gonzalez never has won a playoff game. And he's said this very likely is his final year in the NFL.

"I'm not going to lie to you," he said. "I really, really, really want to win this game."

To get it, Gonzalez, Ryan and star receivers Julio Jones and Roddy White must contend with the league's most physical defense, a unit that completely shut down the Redskins for three quarters in the 24-14 wild-card win.

"I expect our guys to try to play like they always play," Seattle coach Pete Carroll said. "They don't need to change anything because we're not doing anything different, we're going to try and hang with them, and we'll find out what happens."

Texans (13-4) at Patriots (12-4)

Houston's reward for its wild-card win over Cincinnati is a return to trip to Foxborough, where the Texans' late-season spiral began. Houston was in position for home-field advantage in the AFC before being routed 42-14 by the Patriots, then losing twice more in the final three games.

This is only the fourth postseason game in the Texans' 11-season NFL history. The Patriots began winning Super Bowls with Tom Brady before the Texans were born.

AFC South champion Houston must bring the fierce pass rush it often has shown with end J.J. Watt, who led the NFL with 20 1-2 sacks.

"Biggest goal of them all, Super Bowl, and this is a big step for us," Watt said, "and we're really excited about the challenge."

That challenge comes against the NFL's most prolific offense. The Texans and Patriots allowed the same number of points, 331, but AFC East winner New England led the NFL in scoring with 557 points, 34.8 per game.

Brady would surpass Joe Montana for most postseason victories by a quarterback by beating Houston. Brady is 16-6, although he began 10-0.

He isn't looking for a repeat of the Dec. 10 romp.

"Giving us an opportunity to have this game at home, I think that's the important thing about last game," Brady said. "Other than that, this is going to be a whole different game full of our own execution, our ability to try to beat a very good football team that's played well all year."

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

Saudi execution: Brutal and illegal?

Label: Lifestyle

STORY HIGHLIGHTS

Saudi authorities beheaded Rizana Nafeek, a Sri Lankan woman

She was convicted of killing a baby of the family employing her as a housemaid

This was despite Nafeek's claims that the baby died in a choking accident

Becker says her fate "should spotlight the precarious existence of domestic workers"

Jo Becker is the Children's Rights Advocacy Director for Human Rights Watch and author of 'Campaigning for Justice: Human Rights Advocacy in Practice.' Follow Jo Becker on Twitter.

(CNN) -- Rizana Nafeek was a child herself -- 17 years old, according to her birth certificate -- when a four-month-old baby died in her care in Saudi Arabia. She had migrated from Sri Lanka only weeks earlier to be a domestic worker for a Saudi family.

Although Rizana said the baby died in a choking accident, Saudi courts convicted her of murder and sentenced her to death. On Wednesday, the Saudi government carried out the sentence in a gruesome fashion, by beheading Rizana.

Jo Becker

Read more: Outrage over beheading of Sri Lankan woman by Saudi Arabia

Rizana's case was rife with problems from the beginning. A recruitment agency in Sri Lanka knew she was legally too young to migrate, but she had falsified papers to say she was 23. After the baby died, Rizana gave a confession that she said was made under duress -- she later retracted it. She had no lawyer to defend her until after she was sentenced to death and no competent interpreter during her trial. Her sentence violated international law, which prohibits the death penalty for crimes committed before age 18.

Rizana's fate should arouse international outrage. But it should also spotlight the precarious existence of other domestic workers. At least 1.5 million work in Saudi Arabia alone and more than 50 million -- mainly women and girls -- are employed worldwide according to the International Labour Organization (ILO).

Read more: Indonesian maid escapes execution in Saudi Arabia

Again according to the ILO, the number of domestic workers worldwide has grown by more than 50% since the mid-1990s. Many, like Rizana, seek employment in foreign countries where they may be unfamiliar with the language and legal system and have few rights.

When Rizana traveled to Saudi Arabia, for example, she may not have known that many Saudi employers confiscate domestic workers' passports and confine them inside their home, cutting them off from the outside world and sources of help.

It is unlikely that anyone ever told her about Saudi Arabia's flawed criminal justice system or that while many domestic workers find kind employers who treat them well, others are forced to work for months or even years without pay and subjected to physical or sexual abuse.

Passport photo of Rizana Nafeek

Read more: Saudi woman beheaded for 'witchcraft and sorcery'

Conditions for migrant domestic workers in Saudi Arabia are among some of the worst, but domestic workers in other countries rarely enjoy the same rights as other workers. In a new report this week, the International Labour Organization says that nearly 30% of the world's domestic workers are completely excluded from national labor laws. They typically earn only 40% of the average wage of other workers. Forty-five percent aren't even entitled by law to a weekly day off.

Last year, I interviewed young girls in Morocco who worked 12 hours a day, 7 days a week for a fraction of the minimum wage. One girl began working at age 12 and told me: "I don't mind working, but to be beaten and not to have enough food, this is the hardest part."

Many governments have finally begun to recognize the risks and exploitation domestic workers face. During 2012, dozens of countries took action to strengthen protections for domestic workers. Thailand, and Singapore approved measures to give domestic workers a weekly day off, while Venezuela and the Philippines adopted broad laws for domestic workers ensuring a minimum wage, paid holidays, and limits to their working hours. Brazil is amending its constitution to state that domestic workers have all the same rights as other workers. Bahrain codified access to mediation of labor disputes.

Read more: Convicted killer beheaded, put on display in Saudi Arabia

Perhaps most significantly, eight countries acted in 2012 to ratify -- and therefore be legally bound by -- the Domestic Workers Convention, with more poised to follow suit this year. The convention is a groundbreaking treaty adopted in 2011 to guarantee domestic workers the same protections available to other workers, including weekly days off, effective complaints procedures and protection from violence.

The Convention also has specific protections for domestic workers under the age of 18 and provisions for regulating and monitoring recruitment agencies. All governments should ratify the convention.

Many reforms are needed to prevent another tragic case like that of Rizana Nafeek. The obvious one is for Saudi Arabia to stop its use of the death penalty and end its outlier status as one of only three countries worldwide to execute people for crimes committed while a child.

Labor reforms are also critically important. They may have prevented the recruitment of a 17 year old for migration abroad in the first place. And they can protect millions of other domestic workers who labor with precariously few guarantees for their safety and rights.

Read more: Malala, others on front lines in fight for women

The opinions expressed in this commentary are solely those of Jo Becker.

Jazz world mourns Montreux founder “Funky Claude”

Label: Health

GENEVA (Reuters) – Claude Nobs, who founded the Montreux Jazz Festival nearly 50 years ago, has died after several weeks in a coma following a skiing accident, the festival said on Friday.

The Swiss impresario immortalized by rock group Deep Purple as “Funky Claude” in the song “Smoke on the Water” and who lured the biggest stars of the music world to his festival on the shores of Lake Geneva died on Thursday at the age of 76.

“He died peacefully, surrounded by family and close friends,” said a statement issued by the festival, where Mathieu Jaton assumed his duties as director earlier this week.

Nobs launched the summer festival in 1967 while working as an accountant at the Swiss resort’s tourism office. Over the years, his blend of persistence, patience and charm managed to persuade leading lights such as Miles Davis, Ray Charles, Aretha Franklin and Prince to take the stage at Montreux.

But he often had to meet their whims to coax them along.

“I got Miles a Ferrari for him to drive along the lake, Nina Simone wanted a diamond watch and we found the mineral water that Prince likes in Geneva. We always find a way,” Nobs told Reuters last April during an interview at his beloved chalet.

A former festival employee told Reuters on Friday: “He was a shy man but still managed to negotiate. That was his strength and led him to create something huge.”

Nobs fell while cross-country skiing on Christmas Eve near his chalet in Caux, overlooking Montreux, a property that he shared with his longtime partner Thierry Amsallem, who is in charge of digitalizing the festival’s archives of 5,000 hours.

Last year’s two-week festival, which attracted about 250,000 people, featured sold-out concerts by Bob Dylan, American chanteuse Lana Del Rey and British actor and musician Hugh Laurie.

A musical tribute to the people of Montreux is planned in February, in accordance with his wishes, to be followed by events in New York and London this spring, festival board president Francois Carrard told Reuters.

CHALET PARTIES

Nobs threw legendary parties at his chalet, full of vintage Wurlitzer jukeboxes, flat screen TVs and sophisticated sound equipment. Waiters delivered fine food and champagne around a pool with a breathtaking view of the Alps.

A Japanese kimono worn by Freddie Mercury, a print signed by Ron Wood of the Rolling Stones and a larger-than-life bust of Aretha Franklin were among mementoes on display.

Film director Roman Polanski stopped in on his way to see his wife Emmanuelle Seigner perform at Montreux in 2010. Days earlier he had been freed from house arrest in Gstaad after Swiss authorities said they would not extradite him to the United States to face sentencing for having unlawful sex with a 13-year-old girl in 1977.

Herbie Hancock, Van Morrison, Phil Collins and Gilberto Gil have all been regulars at the festival, whose two venues are the larger Stravinski Auditorium and more intimate Miles Davis Hall.

In the mid-1960s, after his first flight on an airplane, Nobs formed a decisive and lifetime friendship in New York with Atlantic Records executive Nesuhi Ertegun, whose father was a former ambassador of Turkey to Switzerland.

“That first time I met Nesuhi, I had no credentials, nothing, something magical happened,” Nobs recalled in his memoirs “Live! From Montreux”, first published in 2007.

Of the first edition, he wrote: “That first festival was obviously when I had to learn a massive amount extremely quickly – from how you deal with one artist arriving whilst the act from the previous night’s show still hasn’t woken up yet, let alone vacated the suite the incoming band are supposed to be going straight into.”

The Deep Purple anthem which dubbed Nobs “Funky” was written about a fire that burned down Montreux casino during a Frank Zappa concert in 1971.

Despite heart surgery some six years ago, Nobs had stayed on as festival director, a position he shared during the 1990s with American producer Quincy Jones who returns each year from Los Angeles to introduce new talent and refers to Montreux as the “Rolls-Royce of festivals”.

Nobs often joined musicians on stage, playing harmonica, sometimes accompanied by his St. Bernard dogs.

The 47th edition is scheduled for July 5-20.

(Reporting By Katharina Bart and Stephanie Nebehay; Editing by Paul Casciato)

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Fiscal Cliff Deal + Obamacare = Higher Taxes

Label: Business

How much will your 2013 tax bill rise as a result of the yearend deal in Congress and the Affordable Care Act? Using Tax Policy Center data and three hypothetical taxpayers, here’s a look at what’s new—and what stays the same. The figures in green represent additional taxes. Calculate your own at calculator.taxpolicycenter.org.

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RAPPEL-Sondage de BMO : La date limite de cotisation au REER est source de stress pour les Canadiens

Label: World

MONTREAL, QUEBEC–(Marketwire – Jan 12, 2013) – Alors que le 1^er mars, date limite de cotisation à un régime enregistré d”épargne-retraite (REER), arrive à grands pas, un sondage de BMO Groupe financier révèle que cette date butoir cause du souci à nombre de Canadiens qui ont du mal à trouver l”argent nécessaire pour faire une cotisation. Le sondage démontre toutefois que la majorité des Canadiens se sentiraient moins anxieux s”ils pouvaient changer d”approche et cotiser de plus petits montants tout au long de l”année.

Selon le sondage, alors que les trois quarts des Canadiens qui détiennent un REER ont déjà fait ou prévoient de faire une cotisation avant la date limite, 60 pour cent admettent que la date butoir est pour eux une source de stress.

Cette source de stress peut être liée au fait que presque la moitié (49 pour cent) des épargnants font une cotisation unique à leur REER en fin d”année plutôt que de cotiser de petites sommes régulièrement tout au long de l”année.

Les avantages d”un programme d”épargne continue

Lorsqu”on les sonde sur les cotisations de REER, plus de la moitié (54 pour cent) des Canadiens affirment qu”ils se sentiraient moins stressés s”ils se servaient d”un programme d”épargne continue (PEC) pour cotiser de plus petites sommes à leur REER, plus régulièrement, tout au long de l”année.

Le PEC retire automatiquement un montant déterminé d”argent du compte bancaire d”un particulier sur une base régulière et l”investit directement dans son REER. Grâce au PEC, vous permettez à votre épargne de fructifier rapidement, sans pour autant devoir fournir un effort budgétaire important chaque année. À titre d”exemple, comme la valeur des fonds d”investissement fluctue selon les conditions du marché, en investissant le même montant dans un fonds chaque mois, l”investisseur peut acheter plus d”unités de fonds lorsque le coût d”acquisition est en baisse. Le coût unitaire moyen des unités que l”investisseur paie peut ainsi s”en trouver réduit à long terme.

Une fois qu”ils se sont familiarisés avec les avantages d”un PEC, les deux tiers des Canadiens avouent qu”il est fort probable qu”ils utiliseront ce mode d”épargne à l”avenir.

« Le malaise qu”ils ressentent à l”égard de la date limite de cotisation au REER est compréhensible puisque les Canadiens ont d”autres priorités financières à gérer, comme le remboursement de leur hypothèque », indique Marlena Pospiech, directrice principale, Planification du patrimoine, BMO Groupe financier. « Mais il est possible de gérer et d”atténuer ce stress. Par exemple, en établissant un programme d”épargne continue, on peut atténuer les craintes de devoir amasser d”un coup une somme substantielle pour pouvoir cotiser à son REER avant la date limite ».

BMO offre les conseils suivants aux Canadiens pour dissiper le stress de la campagne des REER :

Profitez des offres spéciales : Recherchez les offres spéciales conçues pour vous inciter à établir un PEC. Par exemple, si vous établissez un nouveau programme d”épargne continue BMO pour les fonds d”investissement d”ici au 1^er mars 2013 et que vous le conservez pendant 12 mois, votre première cotisation mensuelle sera bonifiée de 15 pour cent (jusqu”à concurrence de 150 $ ).

Investissez vos « surplus » d”argent : Si, par bonheur, vous touchez un supplément d”argent sous forme de remboursement d”impôt, de prime au travail ou d”héritage, envisagez d”investir ce revenu ou cette manne financière imprévue directement dans votre REER à titre de placement dans votre avenir.

Prévalez-vous des avantages fiscaux : L”argent que vous cotisez à un REER est déductible de votre revenu total (dans certaines limites). Pour la plupart des gens, cotiser à un REER peut se traduire par une réduction, voire un remboursement d”impôt.

Demandez de l”aide : Adressez-vous à un professionnel financier qui pourra vous aider à élaborer un plan financier comprenant une composante retraite, dont un PEC, et à revoir vos placements régulièrement. Il pourra en outre vous indiquer si vous pourriez avoir avantage à demander un prêt REER, notamment par le biais d”une marge de crédit MargExpress REER de BMO.

Pour de plus amples renseignements sur le programme d”épargne continue, visitez le site www.bmo.com/pec.

Les résultats indiqués proviennent d”entrevues en ligne effectuées auprès d”un échantillon aléatoire de 1 000 Canadiens âgés de 18 ans ou plus, du 23 au 27 novembre 2012. Un échantillon probabiliste de cette taille produirait une marge d”erreur de ±3,1 pour cent, 19 fois sur 20.

Marketwire News Archive – Yahoo! Finance

Wall Street Week Ahead: Attention turns to financial earnings

Label: World

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.

An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.

"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"What we're looking for is demand. Demand from small business owners, from consumers."

EARNINGS AND ECONOMIC EXPECTATIONS

Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.

Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.

The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.

Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.

HOUSING, INDUSTRIAL DATA ON TAP

Next week will also feature the release of a wide range of economic data.

Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.

Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.

POLITICAL ANXIETY

Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.

The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.

"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.

The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.

(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)

Report: Lance to admit doping in Oprah interview

Label: Technology

AUSTIN, Texas (AP) — Lance Armstrong plans to admit to doping throughout his career during an upcoming interview with Oprah Winfrey, USA Today reported late Friday.

The interview, scheduled to be taped Monday and broadcast Thursday night on the Oprah Winfrey Network, will be conducted at Armstrong's home in Austin, Texas.

Citing an anonymous source, USA Today reported that the disgraced cyclist plans to admit using performance-enhancing drugs, but likely will not get into details of the allegations outlined in a 2012 report by the U.S. Anti-Doping Agency that led to Armstrong being stripped of his seven Tour de France titles and banned for life from the sport.

His representatives declined comment late Friday, including attorney Tim Herman, but Armstrong sent a text to the Associated Press early Saturday morning saying: "I told her (Winfrey) to go wherever she wants and I'll answer the questions directly, honestly, candidly. That's all I can say."

The New York Times first reported last week that Armstrong was considering making a confession.

The 41-year-old Armstrong, who vehemently denied doping for years, has not spoken publicly about the USADA report that cast him as the leader of a sophisticated and brazen doping program on his U.S. Postal Service teams that included use of steroids, blood boosters and illegal blood transfusions.

Winfrey's network announced Tuesday that Armstrong agreed to a "no holds barred" interview with her.

A confession to Winfrey would come at a time when some of Armstrong's legal troubles appear to be clearing up.

Any potential perjury charges stemming from his sworn testimony denying doping in a 2005 arbitration fight with a Dallas promotions company over a contract bonus worth $7.5 million have passed the statute of limitations.

Armstrong faces a whistle-blower lawsuit filed by former teammate Floyd Landis accusing him of defrauding the U.S. Postal Service, but the U.S. Department of Justice has yet to announce if it will join the case. The British newspaper The Sunday Times is suing Armstrong to recover about $500,000 it paid him to settle a libel lawsuit.

Armstrong lost most of his personal sponsorship — worth tens of millions of dollars — after USADA issued its report and he left the board of the Livestrong cancer-fighting charity he founded in 1997. He is still said to be worth an estimated $100 million.

Livestrong might be one reason to issue an apology or make a confession. The charity supports cancer patients and still faces an image problem because of its association with its famous founder.

The New York Times reported that Armstrong may make a confession in an attempt to return to competition in elite triathlon or running events, but World Anti-Doping Code rules state his lifetime ban cannot be reduced to less than eight years. WADA and U.S. Anti-Doping officials could agree to reduce the ban further depending on what new information Armstrong provides and his level of cooperation.

Armstrong met with USADA officials recently to explore a "pathway to redemption," according to a report by "60 Minutes Sports" aired Wednesday on Showtime.

Why global labor reforms are vital

Label: Lifestyle

STORY HIGHLIGHTS

Saudi authorities beheaded Rizana Nafeek, a Sri Lankan woman

She was convicted of killing a baby of the family employing her as a housemaid

This was despite Nafeek's claims that the baby died in a choking accident

Becker says her fate "should spotlight the precarious existence of domestic workers"

Jo Becker is the Children's Rights Advocacy Director for Human Rights Watch and author of 'Campaigning for Justice: Human Rights Advocacy in Practice.' Follow Jo Becker on Twitter.

Jo Becker

Read more: Outrage over beheading of Sri Lankan woman by Saudi Arabia

Read more: Indonesian maid escapes execution in Saudi Arabia

Passport photo of Rizana Nafeek

Read more: Saudi woman beheaded for 'witchcraft and sorcery'

Read more: Convicted killer beheaded, put on display in Saudi Arabia

The Convention also has specific protections for domestic workers under the age of 18 and provisions for regulating and monitoring recruitment agencies. All governments should ratify the convention.

Read more: Malala, others on front lines in fight for women

The opinions expressed in this commentary are solely those of Jo Becker.

‘Argo,’ ‘Silver Linings Playbook’ win at Critics Choice

Label: Health

(Reuters) – Ben Affleck’s Iran hostage drama “Argo,” “Lincoln” star Daniel Day-Lewis and “Zero Dark Thirty”‘s Jessica Chastain were among big winners at the Critics Choice Movie Awards on Thursday, taking honors for best picture, actor and actress, with Affleck nabbing the prize for best director.

The all-star “Silver Linings Playbook” swept the comedy awards, winning best comedy film, best comedy actor for Bradley Cooper and best comedy actress, which went to Jennifer Lawrence.

The 250-member Broadcast Film Critics Association, the largest film critics organization in the United States and Canada, also gave the film its best acting ensemble prize at the event in Santa Monica, California.

Affleck, known mostly as actor and who was overlooked for directing “Argo” earlier on Thursday when the Academy Award nominations were announced, began his acceptance with the quip: “I would like to thank the academy,” before adding “I’m kidding. This is the one that counts.”

Day-Lewis won for his acclaimed performance in the title role of Steven Spielberg’s historical drama “Lincoln,” while Chastain took the prize for “Zero Dark Thirty,” about the hunt for Osama Bin Laden.

It was one of only two awards for “Lincoln,” which led the Oscar nominations with 12. The Oscar runner-up, “Life of Pi,” won only two technical awards.

Lawrence took home two awards, also winning best actress in an action movie for “The Hunger Games.”

“Critics aren’t so bad,” she said as she accepted the award, later riffing on the line when she won her second award, for “Silver Linings Playbook,” saying “Seriously, I love critics.”

Many stars who were nominated just hours earlier for Oscars, Hollywood’s top honors, were on hand, including “Les Miserables” star Hugh Jackman, Robert De Niro and Anne Hathaway, who won the award for best supporting actress for “Les Miserables.”

Best supporting actor went to Philip Seymour Hoffman for “The Master.”

Director David O. Russell dedicated the “Silver Linings” award to his son, saying “I made it to give him hope,” adding, “That’s my silver lining.”

European director Michael Haneke’s drama “Amour,” about an aging couple struggling with failing health and mortality and which scored several major Oscar nominations on Thursday, won the award for best foreign language film.

The prize for best sci-fi/horror film went to “Looper,” while “Searching for Sugarman” won best documentary.

The screenwriting awards were won by Quentin Tarantino for his original screenplay for “Django Unchained” and Tony Kushner who adapted the screenplay for “Lincoln.”

British singer Adele’s song “Skyfall” from the James Bond film of the same name won best song, and star Daniel Craig was named best actor in a action film. The film also won best action movie.

Nine-year old Quvenzhane Wallis, star of “Beasts of the Southern Wild” who became the youngest best actress Oscar nominee in history on Thursday, was named best young actor or actress. She accepted her award clutching a pink-cased electronic device, from which she read her speech as she grinned broadly.

The awards were handed out ahead of Sunday’s Golden Globes and a slew of other award shows that narrow the field for the Oscars, which will be held on February 24.

Writer-producer-director Judd Apatow received a special “genius” award created to honor “an unprecedented demonstration of excellence in the cinematic arts.”

(Reporting by Chris Michaud; Editing by Eric Walsh)

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TSX may open lower, markets pause after 10-month high

Label: Business

(Reuters) – Canada’s main stock index looked set to open lower on Friday, mirroring Wall Street losses, as investors book profits after the index hit a 10-month high in the previous session.

Silver Falcon Mining, Inc. (SFMI) Provides Bullish Outlook on Its 2013 Mining Operations

Label: World

BRADENTON, FL–(Marketwire – Jan 11, 2013) – Silver Falcon Mining, Inc. ( OTCBB : SFMI ) reports on its mining and milling operations, as management remains bullish on anticipated 2013 activities.

Diamond Creek Mill

The Company’s Diamond Creek Mill’s designed gravity feed circuit has been temporarily shut-down for its yearly heavy maintenance and component recalibrations. At the same time, the integration of the new floatation cell circuit is being added as a new component to the existing mill circuitry. Early testing of tailings material, from the floatation cells, reveals a significant improvement in recovery values of ALL precious metals. Management feels that once the flotation circuit is fully operational in the ensuing weeks, this will greatly improve bottom-line for the 2013 operational year.

The “Conditional Use” application for full implementation of the permitted closed-loop leaching system remains on-going and on scheduled without delays.

Further, management reports that work on the permanent storage of mill tailings will begin in earnest.

Diamond Creek Metallurgical Lab

The Company’s metallurgical laboratory building which contains, the Bullion Dore facility, the lab facility and the secured vault, has been fully erected. Company workers are finishing the remaining interior architectural components, allowing this facility to be fully operational.

Sinker Tunnel Gold Project

The Company has been working within the Sinker Tunnel Gold Project as per directives approved by SFMI’s Board of Directors. Due to mining rules, only SFMI personnel will be allowed inside the fenced in parameter of the project. As drilling, bolting, shoring, and exploration proceeds over the upcoming months, management will report as necessary on these operational developments.

Management remains excited about the fact that these are the first mining activities on War Eagle Mountain in over a century.

Pierre Quilliam, CEO, states, “After two years of efforts, both at the mill site and at the Sinker, it is very gratifying to see our efforts maturing. From a barren 20-acre site, the Diamond Creek Mill Facility has risen into an agglomeration of infrastructures, buildings, and equipment. The Company has one objective, to extract and deliver as much precious metals to the world markets as we can produce profitably from our holdings.” He further mentions, “This is the year where production will become the mainstay of SFMI’s objectives and operational motives. This in turn should deliver significant revenue to the Company and growth of shareholder values.”

About Silver Falcon Mining, Inc.

SFMI has mineral rights to approximately 1,200 acres on War Eagle Mountain in southern Idaho; Its Diamond Creek Mill is situated at the foot of War Eagle Mountain and is serviced by 6.2 miles of paved roads from State Highway 78. It maintains year round access to the Sinker Tunnel to facilitate underground mining of the rich veins crisscrossing the mountain and providing the area population with employment and services.

For further information, contact Mr. Richard Kaiser, Investor Relations, 757-306-6090 and/or www.silverfalconmining.com.

Silver Falcon Mining, Inc., SFMI, cautions that the statements made in this press release constitute forward looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.

Marketwire News Archive – Yahoo! Finance

Wall Street to open firm after Thursday's gains, Wells Fargo results

Label: World

NEW YORK (Reuters) - Stocks were set to firm at the open on Friday after the S&P 500 climbed to a five-year high a day earlier, as record profit from Wells Fargo failed to excite investors who awaited fresh trading incentives.

"The bigger news lies ahead of us in terms of earnings and also reports on Christmas sales, which seem to be poor so far," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

Wells Fargo , the first major U.S. bank to post earnings this season, reported a higher fourth-quarter profit as it set aside less money to cover bad loans and made more fees from mortgages. While shares dropped 1.1 percent to $35 in premarket trading, the stock had climbed 2 percent Thursday ahead of the results, and is up 3.6 percent this month so far.

Best Buy shares were volatile in premarket trading after it reported flat holiday sales at established U.S. stores. Shares were last up 5.7 percent at $12.91.

Basic materials shares could be pressured after China's annual consumer inflation rate picked up to a seven-month high, narrowing the scope for the central bank to boost the economy by easing monetary policy.

Meckler said that in the absence of major news, the market will continue to absorb some of the money that comes in from institutional investors at the start of the year. This could give equities an upside bias.

S&P 500 futures were flat and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 3 points and Nasdaq 100 futures rose 2 points.

American Express said it would take a $600-million quarterly charge relating to 5,400 job cuts and payment of legal bills, a move likely to halve its net income. Its shares dipped 0.5 percent in premarket trading to $60.51.

Boeing's 787 Dreamliner jet was dogged by further incidents that tested confidence in the new plane. It suffered a cracked cockpit window and an oil leak on separate flights in Japan on Friday. The US Department of Transportation said the jet would be subject to a review of its critical systems by regulators. Boeing shares fell 1.5 percent to $75.90 in premarket trading.

Dendreon Corp shares jumped 14.9 percent to $5.86 after Sanford C. Bernstein upgraded the stock to "outperform" from "market-perform" and said the drugmaker could be one of the best performers in 2013.

U.S.-traded shares of India's No.2 software services provider Infosys Ltd jumped 15.2 percent premarket after the company raised its revenue forecast.

In a move that could support US equities and boost the global economic outlook, the Japanese government approved a massive $117 billion of spending to revive the world's third-largest economy in the biggest stimulus plan since the financial crisis.

(Editing by Bernadette Baum)

Browns name Rob Chudzinski new coach

Label: Technology

CLEVELAND (AP) — The Browns hauled their coaching search to Arizona and back. They talked to high-profile college coaches, NFL assistants and a fired pro coach who took a team to a Super Bowl.

None of them was hired.

Instead, Rob Chudzinski became their pick.

With no experience as a head coach at any level, Chudzinski was hired Thursday night by the Cleveland Browns, the team he cheered for as a kid. This is Chudzinski's third stint with the team, but this time around he's the guy in charge.

Chudzinski, who spent the past two seasons calling plays as Carolina's offensive coordinator, is the Browns' sixth full-time coach since 1999 and 14th in team history.

Just as it appeared the Browns might be going in another direction, the team selected the 44-year-old Chudzinski to revive a team that has made the playoffs just once in the past 14 years.

Chudzinski will be introduced Friday at an 11 a.m. news conference, where owner Jimmy Haslam and CEO Joe Banner likely will be asked how they selected Banner after speaking to at least seven other candidates and flirting with Chip Kelly before he returned to Oregon.

"Chud," as he's known to players and friends, Chudzinski worked as the Browns' tight ends coach in 2004 and was their offensive coordinator in 2007, when the team won 10 games — their most since an expansion rebirth in 1999.

A lifelong Browns fan who grew up in Toledo, Ohio, Chudzinski replaces Pat Shurmur, another first-time coach when he was hired, who was fired on Dec. 31 after a 5-11 season. For the past two years, Chudzinski has worked with talented Panthers quarterback Cam Newton and resuscitated Carolina's offense, which was one of the league's worst before he arrived.

When Haslam and Banner embarked on their coaching search as 2013 began, the pair vowed they would wait as long as necessary to find "the right coach" for Cleveland. They promised to give their new coach final say over the roster and planned to pair him with an executive to help pick players.

Chudzinski wasn't seen by many as an option.

And then he became the choice.

Chudzinski interviewed with the team on Wednesday, when the club also visited with Cincinnati defensive coordinator Mike Zimmer. Chudzinski appeared to be a long shot for the job, not because he wasn't qualified, but because it was thought Haslam wanted to make a big splash with his first coaching hire.

However, Chudzinski wowed Haslam and Banner during his meeting and the team decided it was time to end its search in its second week.

It's not yet known whom Chudzinski will bring in as coordinators. There are reports he may hire former San Diego coach Norv Turner to run his offense. Chudzinski worked for Turner with the Chargers.

In his first season in Carolina, Chudzinski turned Newton, the No. 1 overall draft pick, loose and the Panthers set club records for total yards (6,237) and first downs (345). Carolina also scored 48 touchdowns after getting just 17 in the season before Chudzinski arrived. The Panthers jumped from last in the league in total yardage to seventh, the biggest improvement since 1999.

Following the season, Chudzinski interviewed for head coaching jobs with St. Louis, Jacksonville and Tampa Bay before returning to Carolina.

In getting the Browns' job, Chudzinski was picked over Zimmer, Montreal Alouettes coach Marc Trestman, fired Arizona coach Ken Whisenhunt and Cardinals defensive coordinator Ray Horton. Whisenhunt was in Cleveland for a second interview on Thursday, and appeared to be the front-runner. The Browns also were expected to interview Indianapolis offensive coordinator Bruce Arians.

Newton continued to develop in his second season with Chudzinski, and the QB's development may have helped his case since the Browns are hoping Brandon Weeden will improve this year after his uneven rookie season.

After his first stint on Cleveland's staff, Chudzinski spent two seasons as San Diego's tight ends coach, working with perennial Pro Bowl standout Antonio Gates.

Taking over the Browns' offense in 2007, Chudzinski helped the Browns go 10-6. They barely missed the playoffs, but four players, including quarterback Derek Anderson, made the Pro Bowl. However, in 2008, the Browns struggled on offense and a six-game losing streak led to a 4-12 finish and Romeo Crennel's firing.

Chudzinski's hiring may not be popular with Cleveland fans, many of whom at fantasies about Nick Saban or Jon Gruden or Kelly brining his supersonic offense to the NFL.

But his selection is in keeping with at least one of Banner's past moves. When he was in Philadelphia's front office, Banner went outside the box and hired Green Bay assistant Andy Reid, a relative unknown who spent 14 seasons with the Eagles.

Now that they've got their coach, the Browns can focus on finding a GM to replace Tom Heckert, fired after three seasons.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

TNT Orders Dick Wolf Series “Cold Justice”

Label: Health

LOS ANGELES (TheWrap.com) – TNT has ordered eight episodes of a new procedural from “Law & Order” boss Dick Wolf, the network said Wednesday.

The series bears the working title “Cold Justice” and is billed as an “unscripted procedural drama.” It will follow Texas prosecutor Kelly Siegler and Yolanda McClary, a crime-scene investigator for the Las Vegas Police Department, as they help local law-enforcement agencies in small towns across the country solve violent crimes that have sat cold because of lack of funding and proper forensic technology.

In each episode, Siegler and McClary will take on a different case, re-examining the evidence and questioning suspects and witnesses in an effort to finally solve the dormant cases.

The show is tentatively slated to premiere on TNT in late summer 2013.

Wolf will executive-produce the series, along with Dan Cutforth and Jane Lipsitz (“Top Chef,” “Fashion Star”) and Tom Thayer (“Hitchcock”). The project comes to TNT from Wolf Films and Cutfort and Lipsitz’s Magical Elves production company.

“Cold Justice” will join other unscripted projects on TNT this year, including the Donnie Walhberg-produced “Boston’s Finest,” a Boston law-enforcement series, which premieres in February; and “The Hero,” a competition series starring Dwayne “The Rock” Johnson, which premieres in the summer. Also premiering in the summer: “72 Hours,” a race-against-the-clock competition set in the wild.

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Draghi urges eurozone governments to fix economies

Label: Business

FRANKFURT, Germany (AP) — European Central Bank head Mario Draghi says the struggling eurozone should leave recession later this year — provided European leaders keep working on economic reforms.

Draghi said Thursday at a news conference that some indicators “have broadly stabilized” although at low levels. He said that later this year “economic activity should gradually recover.”

He warned that “downside risk” to the economy of the 17 European Union countries that use the euro came from “slow implementation of structural reforms in the euro area.”

The bank is urging indebted governments to take steps to overhaul labor regulations and improve growth.

The bank left its key interest rate unchanged at 0.75 percent, a record low.

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Zale holiday sales metric up 2.3 pct, backs view

Label: World

DALLAS (AP) — Zale Corp. said Thursday that a key sales measure rose 2.3 percent during the critical holiday shopping season, and the jewelry chain still expects to post a profit this year.

Zale hasn’t posted an annual profit since 2008. Its fiscal year ends in July.

Its revenue at stores open at least a year rose 2.3 percent during the holiday shopping season. November and December are important for retailers because they often make up a substantial chunk of the year’s revenue. The sales metric, meanwhile, is a key measure of a retailer’s health, because it excludes sales at stores that recently opened and closed.

Total revenue was almost unchanged at $ 567 million in November and December, however, because the company has fewer stores than it did a year ago.

Zale said that revenue at its namesake brand jewelry and outlet stores open at least a year rose 3.1 percent during the holiday shopping season, while its U.S. fine jewelry brands posted a 2.2 percent increase. The same metric rose 2.7 percent at its Canadian fine jewelry brands. At Piercing Pagoda, the company’s kiosk jewelry business, it rose 1.7 percent..

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Wall Street climbs at open on China data

Label: World

NEW YORK (Reuters) - Stocks advanced at the open on Thursday as stronger-than-expected exports in China, the world's second-biggest economy, raised hopes for a more robust recovery in the global economy this year.

The Dow Jones industrial average <.dji> gained 51.22 points, or 0.38 percent, to 13,441.73. The Standard & Poor's 500 Index <.spx> climbed 8.01 points, or 0.55 percent, to 1,469.03. The Nasdaq Composite Index <.ixic> rose 21.80 points, or 0.70 percent, to 3,127.61.

(Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)

NFL player Junior Seau had brain disease CTE

Label: Technology

Junior Seau, one of the NFL's best and fiercest players for nearly two decades, had a degenerative brain disease when he committed suicide last May, the National Institutes of Health told The Associated Press on Thursday.

Results of an NIH study of Seau's brain revealed abnormalities consistent with chronic traumatic encephalopathy (CTE).

"The brain was independently evaluated by multiple experts, in a blind fashion," said Dr. Russell Lonser, who oversaw the study. "We had the opportunity to get multiple experts involved in a way they wouldn't be able to directly identify his tissue even if they knew he was one of the individuals studied."

The NIH, based in Bethesda, Md., conducted a study of three unidentified brains, one of which was Seau's. It said the findings on Seau were similar to autopsies of people "with exposure to repetitive head injuries."

Seau's family requested the analysis of his brain.

Seau was a star linebacker for 20 NFL seasons with San Diego, Miami and New England before retiring in 2009. He died of a self-inflicted shotgun wound.

He joins a list of several dozen football players who had CTE. Boston University's center for study of the disease reported last month that 34 former pro players and nine who played only college football suffered from CTE.

"I was not surprised after learning a little about CTE that he had it," Seau's 23-year-old son Tyler said. "He did play so many years at that level. I was more just kind of angry I didn't do something more and have the awareness to help him more, and now it is too late.

"I don't think any of us were aware of the side effects that could be going on with head trauma until he passed away. We didn't know his behavior was from head trauma."

That behavior, according to Tyler Seau and Junior's ex-wife Gina, included wild mood swings, irrationality, forgetfulness, insomnia and depression.

"He emotionally detached himself and would kind of 'go away' for a little bit," Tyler Seau said. "And then the depression and things like that. It started to progressively get worse."

He hid it well in public, they said. But not when he was with family or close friends.

The NFL faces lawsuits by thousands of former players who say the league withheld information on the harmful effects concussions can have on their health.

"We appreciate the Seau family's cooperation with the National Institutes of Health," the league said in an email statement to the AP. "The finding underscores the recognized need for additional research to accelerate a fuller understanding of CTE.

"The NFL, both directly and in partnership with the NIH, Centers for Disease Control and other leading organizations, is committed to supporting a wide range of independent medical and scientific research that will both address CTE and promote the long-term health and safety of athletes at all levels."

NFL teams have given a $30 million research grant to the NIH.

Seau is not the first former NFL player who killed himself, then was found to have CTE. Dave Duerson and Ray Easterling are others.

Duerson, a former Chicago Bears defensive back, left a note asking for his brain to be studied for signs of trauma before shooting himself. His family filed a wrongful death suit against the NFL, claiming the league didn't do enough to prevent or treat the concussions that severely damaged his brain.

Easterling played safety for the Falcons in the 1970s. After his career, he suffered from dementia, depression and insomnia, according to his wife, Mary Ann. He committed suicide last April.

Mary Ann Easterling is among the plaintiffs who have sued the NFL.

"It was important to us to get to the bottom of this, the truth," Gina Seau said, "and now that it has been conclusively determined from every expert that he had obviously had it, CTE, we just hope it is taken more seriously.

"You can't deny it exists, and it is hard to deny there is a link between head trauma and CTE. There's such strong evidence correlating head trauma and collisions and CTE."

Tyler Seau played football through high school and for two years in college. He says he has no symptoms of any brain trauma.

Gina Seau's son Jake, now a high school junior, played football for two seasons, but has switched to lacrosse and has been recruited to play at Duke.

"Lacrosse is really his sport and what he is passionate about," she said. "He is a good football player and probably could continue. But especially now watching what his dad went through, he says, 'Why would I risk lacrosse for football?'

"I didn't have to have a discussion with him after we saw what Junior went through."

Her 12-year-old son, Hunter, has shown no interest in playing football.

"That's fine with me," she said.

Karzai's U.S. visit a time for tough talk

Label: Lifestyle

The last time Presidents Obama and Karzai met was in May in Kabul, when they signed a pact regarding U.S. troop withdrawal.

STORY HIGHLIGHTS

Afghan President Karzai meeting with President Obama in Washington this week

Felbab-Brown: Afghan politics are corrupt; army not ready for 2014 troop pullout

She says Taliban, insurgents, splintered army, corrupt officials are all jockeying for power

U.S. needs to commit to helping Afghan security, she says, and insist corruption be wiped out

Editor's note: Vanda Felbab-Brown is a senior fellow in foreign policy at the Brookings Institution. Her latest book is "Aspiration and Ambivalence: Strategies and Realities of Counterinsurgency and State-Building in Afghanistan."

(CNN) -- Afghan President Hamid Karzai is meeting this week with President Obama in Washington amid increasing ambivalence in the United States about what to do about the war in Afghanistan.

Americans are tired of the war. Too much blood and treasure has been spent. The White House is grappling with troop numbers for 2013 and with the nature and scope of any U.S. mission after 2014. With the persisting corruption and poor governance of the Afghan government and Karzai's fear that the United States is preparing to abandon him, the relationship between Kabul and Washington has steadily deteriorated.

As the United States radically reduces its mission in Afghanistan, it will leave behind a stalled and perilous security situation and a likely severe economic downturn. Many Afghans expect a collapse into civil war, and few see their political system as legitimate.

Karzai and Obama face thorny issues such as the stalled negotiations with the Taliban. Recently, Kabul has persuaded Pakistan to release some Taliban prisoners to jump-start the negotiations, relegating the United States to the back seat. Much to the displeasure of the International Security Assistance Force, the Afghan government also plans to release several hundred Taliban-linked prisoners, although any real momentum in the negotiations is yet to take place.

Vanda Felbab-Brown

Washington needs to be careful that negotiations are structured in a way that enhances Afghanistan's stability and is not merely a fig leaf for U.S. and NATO troop departure. Countering terrorism will be an important U.S. interest after 2014. The Taliban may have soured on al Qaeda, but fully breaking with the terror group is not in the Taliban's best interest. If negotiations give the insurgents de facto control of parts of the country, the Taliban will at best play it both ways: with the jihadists and with the United States.

Negotiations of a status-of-forces agreement after 2014 will also be on the table between Karzai and Obama. Immunity of U.S. soldiers from Afghan prosecution and control over detainees previously have been major sticking points, and any Afghan release of Taliban-linked prisoners will complicate that discussion.

Karzai has seemed determined to secure commitments from Washington to deliver military enablers until Afghan support forces have built up. The Afghan National Security Forces have improved but cannot function without international enablers -- in areas such as air support, medevac, intelligence and logistical assets and maintenance -- for several years to come. But Washington has signaled that it is contemplating very small troop levels after 2014, as low as 3,000. CNN reports that withdrawing all troops might even be considered.

Everyone is hedging their bets in light of the transition uncertainties and the real possibility of a major security meltdown after 2014. Afghan army commanders are leaking intelligence and weapons to insurgents; Afghan families are sending one son to join the army, one to the Taliban and one to the local warlord's militia.

Patronage networks pervade the Afghan forces, and a crucial question is whether they can avoid splintering along ethnic and patronage lines after 2014. If security forces do fall apart, the chances of Taliban control of large portions of the country and a civil war are much greater. Obama can use the summit to announce concrete measures -- such as providing enablers -- to demonstrate U.S. commitment to heading off a security meltdown. The United States and international security forces also need to strongly focus on countering the rifts within the Afghan army.

Assisting the Afghan army after 2014 is important. But even with better security, it is doubtful that Afghanistan can be stable without improvements in its government.

Afghanistan's political system is preoccupied with the 2014 elections. Corruption, serious crime, land theft and other usurpation of resources, nepotism, a lack of rule of law and exclusionary patronage networks afflict governance. Afghans crave accountability and justice and resent the current mafia-like rule. Whether the 2014 elections will usher in better leaders or trigger violent conflict is another huge question mark.

Emphasizing good governance, not sacrificing it to short-term military expediencies by embracing thuggish government officials, is as important as leaving Afghanistan in a measured and unrushed way -- one that doesn't jeopardize the fledgling institutional and security capacity that the country has managed to build up.

Karzai has been deaf and blind to the reality that reducing corruption, improving governance and allowing for a more pluralistic political system are essential for Afghanistan's stability. His visit provides an opportunity to deliver the message again -- and strongly.

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