Wall Street Week Ahead: Attention turns to financial earnings

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)



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Report: Lance to admit doping in Oprah interview


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.


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Why global labor reforms are vital






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

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.






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






(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)


Movies News Headlines – Yahoo! News





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






(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.


TOP STORIES






Germany’s economic performance declined in the fourth quarter as industry reduced its production in line with weak European demand, the country’s Economy Ministry said.


Mobile operator Vodafone said some customers were not receiving emails via their Blackberry phones, and it was working with handset maker Research in Motion to rectify the problem.


Japanese Prime Minister Shinzo Abe made his biggest push yet to make jobs growth part of the Bank of Japan’s mandate as his government approved $ 117 billion of spending to revive the economy in the biggest stimulus since the financial crisis.


Credit card company American Express Co said it would cut about 5,400 jobs, or 8.5 percent of its workforce, as it restructures its business and pays legal bills.


MARKET SNAPSHOT


Canada stock futures traded down 0.8 percent


U.S. stock futures,, were mixed in the range of 0.01 percent and -0.05 percent <.n></.n>


European shares <.fteu3>, <.stoxx> were mixed <.eu></.eu></.stoxx></.fteu3>


COMMODITY PRICE MOVES


Thomson Reuters-Jefferies CRB Index <.trjcrbtr>: 296.142; fell 0.29 percent</.trjcrbtr>


Gold futures: $ 1,677.3; was unchanged 0 percent


US crude: $ 93.09; fell 0.78 percent


Brent crude: $ 110.4; fell 1.33 percent


LME 3-month copper: $ 8,099.75; fell 0.19 percent


CANADIAN STOCKS TO WATCH


Inmet Mining : Leucadia National Corporation, the largest shareholder in takeover target of the company , said late on Thursday it planned to tender its shares to bidder First Quantum , in a boost for the Canadian-listed group. The First Quantum offer will be open until February 14, 2013, unless extended or withdrawn.


ANALYSTS’ RECOMMENDATIONS


Following is a summary of research actions on Canadian companies reported by Reuters.


Bonavista Energy Corp. : Barclays cuts target to C$ 16 from C$ 19 after the company announced a 42 percent reduction in monthly dividend, cites company’s lower growth prospects


Sprott Inc. : Canaccord Genuity cuts price target to C$ 4 from C$ 4.25 based on a lower performance fee outlook and market depreciation


Canadian Pacific Railway Ltd. : BMO raises target to C$ 102 from C$ 97 to reflect the company’s lower equipment rent and pension costs and its recent favourable labor arbitration ruling


Penn West Petroleum Ltd. : Barclays cuts price target to C$ 12 from C$ 13 after the company announced a lower-than-expected capital budget and production outlook


Postmedia Network Canada Corp. : Canaccord Genuity raises target to C$ 1.25 from C$ 0.65 citing the company’s cost reductions from its transformation plan


ON THE CALENDAR


Major Canadian economic data includes international trade


Major U.S. events and data includes international trade, import and export prices and federal budget


($ 1= $ 0.98 Canadian)


(Reporting by Ayesha Sruti Ahmed)


Economy News Headlines – Yahoo! News





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






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




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


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)



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Browns name Rob Chudzinski new coach


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


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TNT Orders Dick Wolf Series “Cold Justice”






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.


TV News Headlines – Yahoo! News





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Draghi urges eurozone governments to fix economies






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.


Economy News Headlines – Yahoo! News





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