IHT Rendezvous: Worse Than Poisoned Water: Dwindling Water, in China's North

BEIJING — When 39 tons of the toxic chemical aniline spilled from a factory in Changzhi in China’s Shanxi province at the end of December, polluting drinking water for hundreds of thousands of people downstream along the Zhuozhang River and dangerously fouling the environment, it seemed a grave enough disaster. And it was.

So it’s hard to believe, perhaps, but in mid-January, just days after local officials belatedly revealed the spill to the public, a “rapid response team” sent by Greenpeace China to investigate found something even worse than the spill, the blogger Zhou Wei wrote in chinadialogue, an online magazine about China’s environment. Greenpeace found that the fast pace of water consumption by coal and chemical industries in the area is drying up all water resources further downstream. In fact, by 2015, water consumption by coal and chemical industry in China’s dry, western areas is set to use up a whopping quarter of the water flowing annually in the nearby Yellow River, which forms much of the border of Shanxi Province and is popularly known as China’s “Mother River,” wrote chinadialogue.

As chinadialogue wrote, citing Greenpeace, “Even more worrying than the chemical leak is the high water consumption of the coal and chemical industries in the area.”

The blog post, which chinadialogue says hasn’t been translated into English yet, cited Tong Zhongyu of Greenpeace’s East Asia office as saying that the situation was “growing more severe by the day.”

None of this may be news to hardened followers of China’s crumpling environment, but the scale of the water consumption in the water-scarce area is nonetheless shocking: The Tianji Coal Chemical Industry Group, which caused the spill, consumes water equivalent to the consumption of about 300,000 people per year, chinadialogue wrote, citing the Greenpeace investigation.

The coal and chemical industry is simply “a major water-eater,” the post said.

Water is a key challenge for the country as the racing economy guzzles it faster and faster. In the last 40 years, 13 percent of China’s lakes have disappeared, half its coastal wetlands have been lost to reclamation and 50 percent of cities left without drinking water that meets acceptable hygienic standards, the World Wildlife Fund said, according to another article in chinadialogue. The United Nations has singled China out as one of 13 countries with extreme water shortages.

“By any measure, the situation is bleak,” chinadialogue said. For now, the government is split between small-scale, practical solutions to the problem and huge engineering projects, such as the South-North water diversion scheme, which aims to transfer water from the rainy south to the dry north but has been widely criticized by environmentalists as too big, inefficient and ultimately unworkable.

“My heart is really out for the leadership trying to come up with solutions because China’s just so maddeningly complex,” Michael Bennett, an environmental economist, was quoted as saying. As evidence of serious efforts to solve the problem, Mr. Bennett pointed to widespread, small-scale, government-approved water conservation programs taking place around the country.

Will China solve its really serious water problems?

“The trend is in the right direction, the question is whether it’s going to be fast enough,” Mr. Bennett said.

Read More..

See the Stylish Photo Shoot Jessica Simpson Did Between Babies

Stylewatch
Style News Now

02/05/2013 at 04:00 PM ET

Courtesy Jessica Simpson Collection

Jessica Simpson is no stranger to buzzworthy photoshoots, but the glamorous shots she snapped for her Spring 2013 clothing line may take the cake.

The sunlit campaign photos, shot in November on Malibu’s El Matador Beach by famed fashion photographer Ellen von Unwerth, show the mom-to-be showing off her fab, Harley Pasternak-toned bod in pieces from her clothing, shoe and sunglasses collections.

“Last fall’s campaign was shot while I was pregnant [with daughter Maxwell Drew] so I worked behind the scenes on the shoot,” Simpson tells PEOPLE exclusively. “I was really excited to be back in front of the camera for this year’s campaign.”

Of the photographer, Simpson gushes: “Ellen is incredible and was able to really capture the essence of the spring collection – it’s playful, all-American, classic.” Simpson demonstrates those qualities herself as she poses in items from a tie-dye skirt to a denim romper, sky-high neutral wedges to cheetah-print sunglasses — all while rocking her signature loose blonde waves, smoky eyes and light pink lips.

And the final word on the collection, straight from the star? “I want everyone to be able to wear my designs,” she says of the pieces, which are almost entirely under $200 and are starting to ship to stores including Macy’s and Nordstrom now. “The collection is accessible — from extra-small to plus and maternity, there is something for everyone to feel great in.”

Click to see another exclusive image from the campaign, then tell us: Are you excited to try on Jessica Simpson’s spring collection?

Courtesy Jessica Simpson Collection

–Alex Apatoff

Read More..

Critics seek to delay NYC sugary drinks size limit

NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.

With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.

"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.

City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.

"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.

Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.

Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.

"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.

Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.

While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.

Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.

Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.

___

Follow Jennifer Peltz at http://twitter.com/jennpeltz

Read More..

Wall Street bounces back after sell-off; results a boost

NEW YORK (Reuters) - Stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.

Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis. The stock gained 1.1 percent to $13.42.

All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent.

The market's bounce follows a sell-off on Monday that gave the S&P 500 its biggest percentage decline since mid-November. The benchmark remains up 6 percent since the start of the year and is less than 4 percent away from its all-time closing high of 1,565.15 from October 2007.

Analysts said fourth-quarter results have been among factors helping to boost stocks. On Tuesday, Archer Daniels Midland reported revenue and adjusted fourth-quarter earnings that beat expectations, boosted by strong global demand for oilseeds. Shares rose 3.3 percent to $29.38.

"There's not a huge upside surprise by any means, but we're definitely seeing slightly better-than-expected earnings overall," said Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois.

The Dow Jones industrial average <.dji> was up 99.22 points, or 0.71 percent, at 13,979.30. The Standard & Poor's 500 Index <.spx> was up 15.58 points, or 1.04 percent, at 1,511.29. The Nasdaq Composite Index <.ixic> was up 40.41 points, or 1.29 percent, at 3,171.58.

The market shot higher at the start of the year after U.S. lawmakers were able to come to a last-minute agreement to avoid a national "fiscal cliff," but questions on spending cuts remain.

President Barack Obama on Tuesday urged Congress to pass a small package of spending cuts and tax reforms. Though the plan was quickly rebuffed by Republican leaders, investors are looking for an agreement.

"I think there's some hopefulness out there that a reasonable compromise will be made," Evans said.

Also in earnings, Estée Lauder Cos Inc reported a higher quarterly profit and raised its full-year profit forecast. The stock rose 6 percent to $64.71.

With results in from more than half of the S&P 500 companies, 69 percent have beaten profit expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters. Sixty-six percent of companies have beaten on revenue.

Fourth-quarter earnings for S&P 500 companies are expected to rise 4.5 percent, according to the data, above the 1.9 percent forecast at the start of earnings season.

On the down side, McGraw-Hill shares slumped 10.7 percent to $44.92 after the U.S. Justice Department filed a civil lawsuit seeking $5 billion over mortgage bond ratings. Standard & Poor's, a McGraw Hill unit, was accused of inflating ratings and understating risk out of a desire to gain more business from investment banks.

On Monday, McGraw-Hill stock suffered its worst one-day decline since the 1987 market crash.

Volume was roughly 6.7 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 11 to 4 and on the Nasdaq by about 3 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

Read More..

Afghan Airline, Kam Air, No Longer Under U.S. Ban

KABUL, Afghanistan — The American military on Monday reversed a recent decision to blacklist one of Afghanistan’s main airlines, Kam Air, on suspicion of drug smuggling, and it agreed to share details of its accusations with the Afghan government.

The turnaround came after days of Afghan criticism and what some Western officials described as a disagreement between the military and the American Embassy on the prudence of the ban, which would have forbidden any American military contracts with Kam Air. The prohibition came to light in news reports last week, and it was an embarrassment after a positive meeting between President Obama and President Hamid Karzai in Washington in which Mr. Karzai stressed the importance of Afghan sovereignty.

According to a statement released late Monday evening by United States Forces-Afghanistan, the military said that senior officials met with senior Afghan officials at the Foreign Ministry on Saturday, explaining the reasons behind the blacklisting and offering information about the company that led to the ban.

In return, the statement said, the Afghan government agreed to investigate Kam Air and take further action, if needed. Afghan officials could not be reached for comment.

The statement noted deference to the Afghan government’s sovereignty as one reason that it had lifted the ban. The United States military does not directly contract with Kam Air, but the lines are somewhat blurry because the military pays for many activities by the Afghan government. Banning Kam Air from military contracts cast a shadow over the company and posed difficulties for Mr. Karzai’s travel plans. He frequently charters Kam Air planes for official visits abroad, but he was forced to make other plans for his current visit in Europe, officials said.

On Monday, he met in London with Prime Minister David Cameron and President Asif Ali Zardari of Pakistan to discuss halting efforts to restart the peace process with the Taliban. The leaders reaffirmed support for establishing an office in Qatar to aid in talks with Taliban delegates there, and set a six-month deadline for progress, officials said.

Read More..

Live action: Twitter grabs Super Bowl spotlight

NEW YORK (AP) — Beyonce’s splashy show, a freak power outage, and —oh, yeah— a captivating game of football combined to generate a record 24.1 million posts on Twitter during Sunday night’s Super Bowl.

That’s up from 13.7 million last year — and that doesn’t even include chatter surrounding the ads.

Twitter said in a late Sunday blog post that about half of the more than 50 national TV spots that aired during the game included a “hashtag,” a word or phrase preceded by a number sign that’s used to organize subjects on the short messaging site. During last year’s game, only one in five ads included one. Brands ranging from Oreo to Tide and Budweiser, meanwhile, captured online buzz by linking the blackout to their brands in humorous tweets.

Super Bowl XLVII, like the London Summer Olympics and the U.S. presidential election, was yet another moment in which Twitter became the platform for millions of people to share quick reactions and participate in a massive, public conversation. Though it’s not as popular as Facebook Inc. or its buttoned-up cousin LinkedIn Corp., Twitter’s surging popularity during big events is a testament to its reach and utility. The question is whether these moments can translate into revenue for the 7-year-old company.

The company makes money by charging advertisers to promote individual tweets, accounts or trends designed to spark a conversation. Research firm eMarketer estimates that Twitter will book advertising revenue of $ 545.2 million this year, up 89 percent from 2012. Next year, worldwide ad revenue is expected to hit $ 807.5 million, a 48 percent increase from 2013.

Tweetable events such as the 34-minute Super Bowl power outage are ripe with marketing potential, provided that brands act quickly.

“It’s really clear right now that Twitter has a lock on real-time conversation on the Internet,” says eMarketer analyst Debra Aho Williamson.

To capitalize on this, Twitter has to show advertisers that it pays to promote their tweets — even though fans are likely to spread the catchiest slogans on their own, free of charge.

That’s what happened with a certain cream-filled cookie on Sunday.

It took Oreo’s marketers roughly 10 minutes after the power went out to tweet a picture of an Oreo cookie in the half-dark with the words: “You can still dunk in the dark.” As of Monday afternoon, the image had been shared on Twitter more than 15,000 times. Tide followed suit with the slogan “we can’t get your blackout. But we can get your stains out” with more limited success. The message was re-tweeted about 1,300 times. Calvin Klein, meanwhile, tweeted a video of a shirtless, chiseled male model doing crunches “since the lights are still out…”

Such “real-time marketing” is still in its infancy, but Williamson expects this to change, as more companies develop the ability to respond to events immediately.”

“To do what Oreo did actually takes a lot of pre-planning,” she says.

Laurie Guzzinati, spokeswoman for Oreo owner Mondelez says the power outage was a natural moment to engage consumers. The cookie’s TV ad had a planned social media component asking people to follow Oreo on Twitter and post photos on Instagram. The company had set up a “social media command center” that included people from Oreo’s brand team, the ad agency 360i and other partners whose job was to follow the Super Bowl and interact with fans on Facebook, Twitter and elsewhere.

Mondelez likely spent the going rate of as much as $ 4 million on its Super Bowl television spot. But Guzzinati says the company didn’t pay Twitter anything for the “dunk in the dark” picture. Still, Twitter says advertisers moved quickly following the outage.

Matt McGee, editor-in-chief of the blog Marketing Land, counted 26 Twitter mentions in the 52 national spots that aired during the game. Facebook, meanwhile, got only four shout-outs, while Google Plus walked away with zero (though Google Inc.’s YouTube scored one mention from Hyundai).

“When it comes to second-screen advertising, it’s Twitter’s world now and there’s no close second place,” McGee wrote in a blog post late Sunday night. “Last year, brands split their focus on Twitter and Facebook with eight mentions each. This year, brands recognize that Twitter is where they need to try to attract the online conversation around one of the world’s biggest events.”

David Berkowitz, vice president of emerging media at 360i, which worked on the Oreo campaign, says Twitter has done a good job tying itself into major television events.

“If you look at (Twitter’s) trending topics any day especially during prime time or major events, they’re heavily fueled by television,” he says. “So TV is responsible for Twitter’s growth in general.”

He thinks Twitter has done a better job than other social media sites like Tumblr and Pinterest in proving it’s the place to be when it comes to talking about big events online.

“A large part of it right now is just showing this is where the conversation is happening and building their brand around that,” he says. “Even with other very successful social media sites, no one is better at conversation than Twitter.”

__

AP Retail Writer Mae Anderson contributed to this story.

Social Media News Headlines – Yahoo! News

Title Post: Live action: Twitter grabs Super Bowl spotlight
Url Post: http://www.news.fluser.com/live-action-twitter-grabs-super-bowl-spotlight/
Link To Post : Live action: Twitter grabs Super Bowl spotlight
Rating:
100%

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

Read More..

Constance Marie Blogs: I Confess - I Was Anti-Princess

Look who’s back! We’re thrilled to say hello again to Constance Marie, our original celebrity blogger!

The actress, mom to daughter Luna Marie, 4 on Tuesday, with fiancé Kent Katich, stars on Switched at Birth, airing Mondays at 8 p.m. ABC Family.

She’s also one of the celebrity voices narrating beloved children’s stories for Little Golden Records, available now at Walmart.

Marie, 47, can also be found online on Facebook and @goconstance on Twitter. If you’ve missed any of her past posts, check them out here.

In her latest blog, the actress explains why she decided to drop her anti-princess stance and accept it instead.

Getting lippy with my girl – Courtesy Constance Marie

Oftentimes, my blogs start with a confession. This one is no different. My name is Constance Marie and I am anti-princess.

That’s right, I said it. I am anti-princess. Well, I guess the more correct statement would be: I was anti-princess.

And here is my reasoning: Many of the old princess stories emphasize beauty, wardrobe and much too much emphasis on how you look on the outside! To me, this was a recipe for shallow thinking and way too many opportunities for me to squander my money on accessories.

So when Luna Marie was young, I thought, “I am not having any of that!” I was a tomboy as a child! I much wanted my daughter to be a scrapper and not so dainty.

But then I was snapped back to reality. I realized my daughter did not live in a bubble. She wasn’t so little anymore and she heard princess stories EVERYWHERE!!! All her friends, all the kids from school … everyone had dress-up clothes, tiaras, wands, plastic shoes, stickers and books.

Like I said — EVERY-frickin-where!!! It was like a princess avalanche that I could not stop, no matter how much I tried to avoid it. Oh yes. It was a losing battle … I did not stand a chance.

So, I set myself down and had a good think. I mean, all her friends were on the princess train. I didn’t want my daughter to feel left out. We’re not Amish for gosh sakes! So I sucked it up and started with one princess dress. Then of course, I saw another one in a different color. And then there was this sparkly one that was SO cute!

It was as if I had been bitten by the princess bug too! I thought to myself, “Okay, I’ll just dabble a little. Not too much princess. I’ll balance it with a little bit of doctor dress-up and superhero dress-up. I even succeeded in distracting her with a Wonder Woman outfit — ka-pow! I was so impressed with myself! At least for a little while.

My little Wonder Woman – Courtesy Constance Marie

Then … it happened. We were invited to a party and lo and behold, it was — you guessed it — a princess-themed party. With a real, live, human princess dressed in all the sparkle and flowery regalia that they wear! My daughter and I were done for. Seriously, she walked around like a dazed zombie just staring at this princess, adoring her from afar because she was too shy to go up close. Princesses 1, Mama 0.

Once again I sat down and had a good think. I realized this anti-princess battle was not going to be won by me.

FYI — I don’t take losing very well. I was a tomboy, remember — a scrapper. In all honesty, I loved to win! These princesses were not going to take me down! At least not without a proper battle.

I may have not be able to avoid this princess vortex, but I was going to find a way to spin this princess thing to my advantage — even if I had to choke down a tiara or two.

After many hours of analyzing my options, I realized most often the princesses started in non-fancy clothes, had to deal with a lot of adversity, and in the end they always came out on top. They may not have looked like princesses on the outside, but inside their behavior was totally princess-like.

Ha ha, I said to myself. I have my hook! Being a princess is all about how you behave and how you are on the INSIDE! I mean they weren’t all bad … most often them have a positive attitude. They are kind to animals. They are brave. They work hard. They tolerate adversity pretty well. And they have excellent manners! So I decided to teach my daughter that being a princess was more than what you wear or how you look.

I forgot to mention that this princess thing happened at around age 3.5. As I mentioned in a previous blog, we never got the terrible twos, but we got HIT by the terrible threes!

As luck would have it, I found a book called Polite as a Princess. It was perfect. Every parent’s dream! It had all the well-known princesses and it talked about how they had manners. They said, “Please” and “Thank you,” they didn’t interrupt, they shared — yada yada yada. The terrible threes were about to be over! (Insert diabolical laughter here).

Reading with wings – Courtesy Constance Marie

As parents, we have to use every tool that we can find, right?! We’re way older and don’t have as much stamina as they do!

So I implemented my plan. If I couldn’t fight the princesses, I was going to use them to help squash the terrible threes.

I read this book to my daughter at every opportunity. At the dinner table, in the car, before bed, potty time. She (and I) had it memorized. NOW I was ready to do battle!

At any time there was behavior that was basically driving me insane — behavior that I had tried to correct like 300 times before, but to no avail — I could quote the princess book. “Does Snow White get up in the middle of a meal?” “Is Ariel good at sharing?” etc.

This line of questioning would stop my daughter in her tracks. Luna Marie wanted NOTHING MORE than to be like a princess! She would look at me stunned/tortured as if I had some kind of special power.

And like a brainwashed little soldier, she immediately behaved like a proper princess. She would sit still,, she would use her napkin,, she would share. It was amazing! I was almost drunk with power!!! Princess 1 – Mama 47!

I know … it does sound a little “evil step mother-y” but come on, a mama’s gotta do what a mama’s gotta do.

So now, when we are out getting our playdate on, or somewhere in public, strangers often compliment me on my daughter’s manners. To which I look at them, and say a polite princess, “Thank you” and then with a little twinkle in my eye I say, “Let me tell you about my philosophy, but more importantly this book!”

Meeting a princess in person – Courtesy Constance Marie

The parent’s response? “I REALLY gotta go get that book!”

So now, I’m just trying to pay it forward. Sadly, word on the street is that there is no boy equivalent for this book, like Polite as a Prince or Polite as a Pirate — wait, that last one doesn’t make sense.

Anyhoo, maybe some day there will be! Till then, Stay strong Mommies and Daddies!

– Constance Marie

More from Constance’s PEOPLE.com blog series:

Read More..

Bullying eases for lesbian, gay teens as they age: study

(Reuters) - It does get better for lesbian, gay and bisexual (LGB) youth, with bullying in their early teens fading away as they grow older, according to a study of the name calling, threats and violence faced by teens in England.

Researchers, whose results appeared in Pediatrics, found that while more than half of non-heterosexual teens reported getting bullied at ages 13 and 14, fewer than one in ten was still being victimized six years later.

"This study provides strong empirical support for the idea that it does get better," said lead researcher Joseph Robinson, from the University of Illinois at Urbana-Champaign.

"Even though you're bullied in high school, chances are you won't be bullied in young adulthood."

But not all the news was good. Gay and bisexual men, in particular, reported that they were still bullied much more often than heterosexual men when surveyed at age 19 to 20. And bullied LGB youth said those experiences contributed to their feelings of depression and worthlessness years later as young adults

The new data are based on a study of 4,135 teens in England who were surveyed every year between 2004 and 2010. Of those, 187, or 4.5 percent, identified as lesbian, gay or bisexual.

At the start of the study period, when the youths were 13 and 14 years old, 52 percent of gay and bisexual boys and 57 percent of lesbian and bisexual girls said they were called names or experienced threats or violence.

Six years later, nine percent of non-heterosexual men and six percent of women were bullied.

By then, heterosexual and non-heterosexual women had a similar chance of being bullied, but gay and bisexual men were four times more likely to be victimized than their straight peers.

"Prior studies suggest that the general public has stronger negative feelings toward gay and bisexual males than toward lesbian and bisexual females," Robinson told Reuters Health.

Other experts noted that while the findings supported the idea that teens grow more tolerant as they age, discrimination still existed at aged 18 and 19, especially for boys.

Even when the name-calling and threats of violence had stopped, many LGB teens in the study continued to feel emotional distress, in part related to past bullying.

"There's a lingering effect into early adulthood... from what has happened earlier in life," said Anthony D'Augelli, who studies LGB youth at The Pennsylvania State University in University Park.

"Despite what would appear to be a decrease (in bullying), we should not assume that all is well in the lives of these young people," added D'Augelli, who was not part of the study.

Andrea Roberts, who studies trauma and health at the Harvard School of Public Health in Boston, said that bullying trends have a lot to do with local culture and acceptance of LGB people, so it's hard to know whether the findings would apply elsewhere.

"It would be really beneficial to have this study done in the United States," she said. SOURCE: http://bit.ly/cxXOG

(Reporting from New York by Genevra Pittman at Reuters Health; editing by Elaine Lies)

Read More..

S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.

Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.

"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.

Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.

Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.

The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.

With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.

The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.

The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.

The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.

Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.

Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.

According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.

S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.

In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.

Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.

Volume was roughly 6.3 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

Read More..

The Lede Blog: Two Iranian Space Monkeys Got Confused, an Official Says

A senior official at Iran’s space agency confirmed on Saturday that state media reports on the launching of a monkey into the thermosphere had used images of two different monkeys. The official insisted, however, that the monkey had survived the journey and that Iran was not trying to cover up a failed flight.

As The Lede explained on Friday, doubts about Iran’s claim that the monkey had survived the journey spread after journalists noticed that the monkey pictured in the first reports from state-run news organizations had a prominent mole over its right eye, before the launch, but had clear skin when it showed up at postflight celebrations broadcast on Iranian television the next day.

Video from Iranian television of the monkey that Iran says it launched into space.

The space agency official, Mohammad Ebrahimi, told The Associated Press in Tehran that the first images provided to Iran’s official news outlets to illustrate their reports had mistakenly shown another of the five monkeys that trained for the flight at the space agency — the one with the mole — and not the one that had actually taken part.

A report from Press TV, Iran’s English-language satellite news channel, broadcast on Monday used the still images of the first monkey.

A report on simian space travel broadcast on Monday on Press TV, Iran’s state-run news channel.

The second monkey was featured in a Press TV report broadcast on Tuesday.

A report on Iran’s space monkey broadcast on Tuesday by Press TV.

In his interview with The A.P., Mr. Ebrahimi insisted that the monkey that had made the flight was in good health and said that of several monkeys that had been trained for the flight, the one that seems least stressed for the journey had been chosen at the last moment. One of the photographs of the monkey with the mole over its eye did appear to show the monkey in distress while strapped into a launch seat.

The space agency did not, apparently, offer to disprove rumors that one of the monkeys had died by showing them both to the A.P. reporter on Saturday.

Read More..