‘Star Wars’ creator George Lucas engaged to businesswoman

LOS ANGELES (Reuters) – “Star Wars” creator George Lucas will marry his longtime girlfriend Mellody Hobson, the director’s production company Lucasfilm Ltd said on Thursday.

Lucas, 68, and Hobson, the president of Chicago investment firm Ariel Investments LLC, have been together for the past six years. It will be Lucas’ second marriage. He was married to Oscar-winning film editor Marcia Lucas from 1969 to 1983.

No date or location for the wedding has been made public.

Hobson, 43, serves on the board of directors for Hollywood studio Dreamworks Animation SKG Inc, cosmetics company Estee Lauder Companies Inc, coffeehouse chain Starbucks Corp and Internet coupon company Groupon Inc.

Lucas, who rose to fame directing the 1971 science-fiction film “THX 1138,” launched “Star Wars” in 1977 developed it into one of the highest-grossing film franchises of all time.

Lucas sold Lucasfilm and the “Star Wars” franchise to the Walt Disney Co in November for $ 4.05 billion.

(Reporting by Eric Kelsey, editing by Jill Serjeant and Lisa Shumaker)

Celebrity News Headlines – Yahoo! News

Title Post: ‘Star Wars’ creator George Lucas engaged to businesswoman
Url Post: http://www.news.fluser.com/star-wars-creator-george-lucas-engaged-to-businesswoman/
Link To Post : ‘Star Wars’ creator George Lucas engaged to businesswoman
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..

Scant Proof Is Found to Back Up Claims by Energy Drinks

Energy drinks are the fastest-growing part of the beverage industry, with sales in the United States reaching more than $10 billion in 2012 — more than Americans spent on iced tea or sports beverages like Gatorade.

Their rising popularity represents a generational shift in what people drink, and reflects a successful campaign to convince consumers, particularly teenagers, that the drinks provide a mental and physical edge.

The drinks are now under scrutiny by the Food and Drug Administration after reports of deaths and serious injuries that may be linked to their high caffeine levels. But however that review ends, one thing is clear, interviews with researchers and a review of scientific studies show: the energy drink industry is based on a brew of ingredients that, apart from caffeine, have little, if any benefit for consumers.

“If you had a cup of coffee you are going to affect metabolism in the same way,” said Dr. Robert W. Pettitt, an associate professor at Minnesota State University in Mankato, who has studied the drinks.

Energy drink companies have promoted their products not as caffeine-fueled concoctions but as specially engineered blends that provide something more. For example, producers claim that “Red Bull gives you wings,” that Rockstar Energy is “scientifically formulated” and Monster Energy is a “killer energy brew.” Representative Edward J. Markey of Massachusetts, a Democrat, has asked the government to investigate the industry’s marketing claims.

Promoting a message beyond caffeine has enabled the beverage makers to charge premium prices. A 16-ounce energy drink that sells for $2.99 a can contains about the same amount of caffeine as a tablet of NoDoz that costs 30 cents. Even Starbucks coffee is cheap by comparison; a 12-ounce cup that costs $1.85 has even more caffeine.

As with earlier elixirs, a dearth of evidence underlies such claims. Only a few human studies of energy drinks or the ingredients in them have been performed and they point to a similar conclusion, researchers say — that the beverages are mainly about caffeine.

Caffeine is called the world’s most widely used drug. A stimulant, it increases alertness, awareness and, if taken at the right time, improves athletic performance, studies show. Energy drink users feel its kick faster because the beverages are typically swallowed quickly or are sold as concentrates.

“These are caffeine delivery systems,” said Dr. Roland Griffiths, a researcher at Johns Hopkins University who has studied energy drinks. “They don’t want to say this is equivalent to a NoDoz because that is not a very sexy sales message.”

A scientist at the University of Wisconsin became puzzled as he researched an ingredient used in energy drinks like Red Bull, 5-Hour Energy and Monster Energy. The researcher, Dr. Craig A. Goodman, could not find any trials in humans of the additive, a substance with the tongue-twisting name of glucuronolactone that is related to glucose, a sugar. But Dr. Goodman, who had studied other energy drink ingredients, eventually found two 40-year-old studies from Japan that had examined it.

In the experiments, scientists injected large doses of the substance into laboratory rats. Afterward, the rats swam better. “I have no idea what it does in energy drinks,” Dr. Goodman said.

Energy drink manufacturers say it is their proprietary formulas, rather than specific ingredients, that provide users with physical and mental benefits. But that has not prevented them from implying otherwise.

Consider the case of taurine, an additive used in most energy products.

On its Web site, the producer of Red Bull, for example, states that “more than 2,500 reports have been published about taurine and its physiological effects,” including acting as a “detoxifying agent.” In addition, that company, Red Bull of Austria, points to a 2009 safety study by a European regulatory group that gave it a clean bill of health.

But Red Bull’s Web site does not mention reports by that same group, the European Food Safety Authority, which concluded that claims about the benefits in energy drinks lacked scientific support. Based on those findings, the European Commission has refused to approve claims that taurine helps maintain mental function and heart health and reduces muscle fatigue.

Taurine, an amino acidlike substance that got its name because it was first found in the bile of bulls, does play a role in bodily functions, and recent research suggests it might help prevent heart attacks in women with high cholesterol. However, most people get more than adequate amounts from foods like meat, experts said. And researchers added that those with heart problems who may need supplements would find far better sources than energy drinks.

Hiroko Tabuchi contributed reporting from Tokyo and Poypiti Amatatham from Bangkok.

Read More..

Brunswick to sell Hatteras, Cabo, lays off 105

The GT63 is the latest model of motor yacht from Hatteras, a unit of Brunswick Corp. (Hatteras Yachts / January 3, 2013)

Reuters

5:49 p.m. CST, January 3, 2013

Recreational boat maker Brunswick Corp. said Thursday that it is seeking buyers for its sportfishing convertible yacht brands Hatteras and Cabo, and that it laid off about 105 workers at its New Bern facility in North Carolina.

The facility had about 545 employees as of November.

Brunswick bought Hatteras for $80 million in 2001 and Cabo for $60 million in 2006.

"The current plan assumes that the eventual purchaser will retain both the physical plant and the workforce of Hatteras/Cabo," Chief Executive Dustan McCoy said.

Hatteras builds luxury motoryachts and sportfishing convertible yachts.

The boat maker suffered a slide in earnings as consumers turned away from splashing money on luxurious items like boats after the recession, and was forced to restructure its operations.

The lay off will affect 75 full-time and about 30 temporary workers, and help Brunswick "better adjust to market conditions," spokesperson Dan Kuberan told Reuters.

The New Bern plant makes Hatteras and Cabo Yachts.

The company said it expects to record charges of between $70 million and $80 million in relation to the changes announced today, a major part of which will be recorded in the fourth quarter ended December.

Brunswick shares were marginally down at $31.37 in trading after the bell. They closed at $31.51 on the New York Stock Exchange on Thursday.

Read More..

Gay marriage law hiccup shows bill in for a fight

SPRINGFIELD — If anyone thought gay marriage legislation would pass easily in Illinois, the initial hiccup Wednesday in the state Senate illustrated how hard-fought the issue is likely to be every step of the way.

A bill to allow same-sex marriage didn’t attract enough support to get a first hearing as Senate Republicans blocked an effort to allow the measure to be considered by a committee.

Sponsoring Sen. Heather Steans, D-Chicago, fell two votes short of overcoming what may end up as no more than a minor procedural setback. She vowed to have enough support Thursday to push the gay marriage bill forward through the full Senate.

The Springfield skirmish unfolded as religious leaders in Chicago ratcheted up philosophical opposition and political pressure. and gay marriage supporters continued a planned media blitz complete with a TV sitcom star. And while Illinois Republicans continue to largely oppose same-sex marriage, state GOP Chairman Pat Brady publicly supported the bill.

Gay marriage is but one issue on a crowded agenda of the final days of the outgoing General Assembly.

Lawmakers also are looking at pension reform, drivers licenses for illegal immigrants, gambling expansion and gun control before the reset button is hit when the new legislature is sworn in next Wednesday.

Given the political complexities, it will be a tall order for lawmakers to complete a comprehensive pension overhaul by the time the clock runs out. Same goes for chances of passing a major gambling expansion to meet Mayor Rahm Emanuel's desire to have a Chicago casino.

"I'm doubting it," said Sen. Terry Link, a Waukegan Democrat and sponsor of the gambling measure. "But I've been around long enough to know things can happen in the wee hours."

While gambling expansion may wait yet again, gay marriage supporters still hope to pass a bill during the final days of a lame-duck legislature.

The same-sex marriage push is being backed by a coordinated campaign championed by Fred Eychaner, the Chicago media mogul, and Laura Ricketts, a co-owner of the Chicago Cubs. Gov. Pat Quinn has indicated he’ll sign the bill into law if it passes, and Steans said the measure has a chance to be in place by Valentine's Day.

Both sides of the issue grabbed the megaphone Wednesday in an attempt to be heard.

Jesse Tyler Ferguson, a star of ABC’s "Modern Family," joined Democratic Lt. Gov. Sheila Simon Wednesday in Chicago to speak in favor of the legislation. The two and other supporters plan to go to the Capitol Thursday for "Bow Tie Lobby Day," where they’ll encourage legislators to wear bow ties in support of the bill.

Ferguson said his role as part of a gay couple on the popular TV show has helped him use "wit and humor" to tackle a serious issue. The nation’s forward movement on marriage equality has been encouraging, he said, and Illinois is a chance to continue the momentum. Ferguson’s fiancé, Justin Mikita, accompanied him to the news conference.

"I’m looking forward to raising a family with Justin and having our kids grow up in an equal America. I had a hard time coming out and certainly had struggles with my parents. … If the 12-year-old me had been able to turn on the TV and see a sitting president say he supports marriage equality, it would have made all the difference for me and certainly given me a lot of hope," Ferguson said.

Simon sought to counter the argument put forth in a letter from Cardinal Francis George and Catholic bishops on Tuesday that same-sex marriage laws create a "legal fiction."

"The state has no power to create something that nature itself tells us is impossible," the church leaders wrote to priests.

Simon argued that adoption is similarly a "legal fiction" that helps citizens form a family unit — and one that she also supports.

In opposition, a coalition of Catholics, Muslims, Mormons, Missouri Synod Lutherans and conservative Anglicans on Wednesday said they wrote to Illinois lawmakers and urged them not to extend marriage to same-sex couples.

The bishops and ministers from about 1,700 Illinois congregations and ministries said the attempt to alter the state’s definition of marriage threatens an institution that society counts on as the ideal environment for raising children and teaching men and women to depend on each other.

Gay marriage, the letter said, degrades "the cultural understanding of marriage to an emotional bond between any two adults."

The religious leaders further warned that, while the law exempts religious institutions from having to consecrate same-sex marriages, the proposed legislation doesn’t protect their rights to freely exercise their religious beliefs because they would have to treat same-sex unions as the equivalent of marriage in their business practices. For example, they might be forced to provide health insurance to an employee’s same-sex spouse.

The Rev. Timothy Scharr, president of the Lutheran Church Missouri Synod’s Southern Illinois District, said, he’s optimistic that lawmakers will pay attention to the what he said is a consensus against gay marriage.

"Our real concern is for the family especially the traditional family of father mother and children that’s been rooted so much in our culture," said Scharr, whose district covers 95 congregations south and southeast of Springfield. "We thought it important to preserve that as much as possible. Many things unforeseen to us could take place. We’re fearful."

Also Wednesday, a group of prominent African-American leaders released a letter in support of gay marriage.

Cook County Board President Toni Preckwinkle and former Illinois Senate President Emil Jones Jr. were among dozen people who signed it.

"We in Illinois have a chance to help lead the country in the right direction," the letter reads. "The General Assembly should act now and give same-sex couples the freedom to marry. It is the right thing to do."

Read More..

Review: Nintendo’s TVii tops button-laden remotes

LOS ANGELES (AP) — Nintendo‘s TV-watching tool for the new Wii U game console beats my regular remote control hands down.

Called TVii, the service transforms how you watch television in three key ways. It turns the touch-screen GamePad controller for the Wii U into a remote control for your TV and set-top box. It groups your favorite shows and sports teams together, whether it’s on live TV or an Internet video service such as Hulu Plus. And it offers water-cooler moments you can chat about on social media.

It takes some getting used to, and I had a lot of re-learning to do after years of using my thumb to channel surf. But once I did, I found the service an advance from the mass of buttons on most TV remote controls.

TVii comes free with the Wii U, although it didn’t become available in the U.S. until mid-December, about a month after the game machine’s debut.

One nice touch is that TVii gives you a way to search for shows over Internet video apps and live TV all in one place. I can then choose whether to watch it on the big TV or on my controller’s touch screen, which measures 6.2 inches diagonally.

Handling these different sources of video at once is a tall order, and Nintendo Co. does it pretty well. No one else has combined live and Web TV as seamlessly before. As the lines blur between the two, I would hope some of TVii’s advances are copied and improved upon by other gadget makers and TV signal providers.

For starters, TVii asks for your TV maker, your set-top box maker, your location and your TV provider (that could be an antenna). TVii then uses infrared codes to control your TV just like the old remote, and it can offer a traditional channel guide for live TV shows. TVii also asks for your favorite shows, sports teams and movies. This helps it create an easy-to-understand grouping of shows you might want to watch.

I appreciate the way TVii walked me through the setup process. It was refreshing, given the misfortune I recently had of trying to program the remote control that came with my cable set-top box, which is about as fun as doing your tax returns. TVii takes away the need to read folded-up instruction manuals that appear to be written by and for electronics hobbyists.

After the setup, TVii presents you with a series of icons for Favorites, TV, Movies, Sports and Search. A little avatar of your identity is in one corner, and tapping on it lets you adjust your favorites or go through the setup again. Each person in a household can have a different avatar and set of favorites.

In Favorites, your shows are listed with cover art, and you can swipe through the offerings. Tapping one, say, “The Mindy Project,” will pull up an episode list with pictures and brief summaries. Choosing an episode will bring up a range of options — the channel if it’s on live TV, or buttons for Hulu Plus or Amazon, where you can pay for monthly access or just one episode through the service’s app. (The free version of Hulu is blocked on gadgets, including the Wii U and tablet computers. Apple’s iTunes, unsurprisingly, isn’t integrated.) The option of clicking through to Netflix will be added some time in 2013.

One hiccup is that if you want to watch a show on live TV now, it asks if your TV’s input source is already set to the set-top box, rather than the Wii U or another gadget such as a DVD player. If it is, you tap “yes” and the channel changes. If not, you have to tap until the source switches to the right one and then tap “yes.” Still, there’s no need to go back to your TV’s remote control.

The other menu items for TV, Movies, Sports and Search operate pretty similarly. Eventually you’ll get a range of options to watch. In the case of sports, you’ll likely see several game possibilities, with the latest score showing up on each game icon.

As an alternative, you can resort to a physical TV button on the GamePad that brings up touch controls that mimic a simplified, standard remote.

Another option is using an altogether separate interface in which favorite channels and other controls are displayed graphically on a semi-circular wheel. It looks strange, and I wouldn’t recommend it.

Anyone who is frustrated by the jumble of cables and boxes that now surround TVs will see TVii’s appeal. My wife said she liked the ease of holding and touching the controller, rather than fiddling with the button-laden remote. One downside I can see with TVii is that you have to keep looking down to figure out what to watch. And you have to plug it in frequently, as the GamePad controller will die out after three to five hours of use.

TVii also offers a standard channel guide in which you can scroll up and down for programs on different channels or right and left for different times of day. A touch will change the channel to the program, which is nice.

For certain shows and sporting events, TVii will supply a running list of key events called “TV tags.” These descriptions of events, like the precise moment when Mindy’s Christmas party descends into chaos, are displayed on the GamePad’s screen, along with a screenshot. Tapping on one opens up a comment window, and an onscreen keyboard allows you to make a comment. For sports, you get a description of each play, such as the number of yards thrown in a pass, beside a graphic that gets updated.

Not many people have Wii U consoles yet, nor is everyone tuned to TVii. As a result, I found myself with only one or two commenters to share my thoughts with.

If you’ve connected TVii to Facebook and Twitter (again, some sign-up is involved), your comments will go out to your friends and followers, but the TV tag that you are commenting on won’t show up, so they might not know what you’re talking about. TVii adds the hashtag “NintendoTVii” to help readers take a guess.

In the end, TVii isn’t perfect.

It isn’t yet able to program your digital video recorder, although it will do so for TiVo DVRs by March. Sports are limited to pro and college basketball and football, and there’s no integration with fantasy sports leagues. And the battery life of the GamePad is short.

A review unit I was sent failed to take a charge and had to be replaced, although I haven’t found others who have had the same problem.

These irritations aside, Nintendo has given us a way to control the clutter of channels, apps and devices crowding around the TV. It’s relatively easy and intuitive and some updates are on the way. Considering the garble of the TV universe, that’s pretty good.

___

About TVii:

TVii turns the GamePad controller for the Wii U into a remote control that integrates your live TV and Internet video experience. The service is free, but you’ll need a Wii U game console, which starts at $ 300. You’ll also need to pay extra to use video services such as Hulu Plus, Amazon and Netflix.

Gaming News Headlines – Yahoo! News

Title Post: Review: Nintendo’s TVii tops button-laden remotes
Url Post: http://www.news.fluser.com/review-nintendos-tvii-tops-button-laden-remotes/
Link To Post : Review: Nintendo’s TVii tops button-laden remotes
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..

U.S. pop singer Patti Page dies at age 85

LOS ANGELES (Reuters) – American pop singer Patti Page, whose 1950 hit “Tennessee Waltz” topped the charts for months, has died in Southern California, her manager said on Wednesday. She was 85.

Nicknamed “The Singing’ Rage,” Page sold more than 100 million albums in her 67-year career, which included 1950s chart toppers “(How Much Is That) Doggie in the Window,” “I Went to Your Wedding” and “All My Love (Bolero).”

She died on Tuesday in a nursing home in Encinitas, north of San Diego, after suffering congestive heart failure, her manager, Michael Glynn, told Reuters.

“She’d been having some health issues for the past couple of years,” Glynn said. “She was actually doing better yesterday. I spoke to her and she sounded well.”

Page won a Grammy for her 1998 album “Live at Carnegie Hall: The 50th Anniversary Concert” and will be honored with a lifetime achievement Grammy in February. She had expected to attend the ceremony, Glynn said.

Page was born in Oklahoma as Clara Ann Fowler in 1927 and was known for her light, every-girl voice. Her first big hit was “With My Eyes Wide Open, I’m Dreaming,” which peaked at No. 11 on the charts in 1950.

Eight years later, Page scored her penultimate top-10 song, “Left Right Out of Your Heart,” as rock ‘n’ roll was emerging as the dominant trend in popular music.

Her final big hit was “Hush … Hush Sweet Charlotte” in 1965. The song served as the theme of a film of the same name starring Bette Davis.

Her reputation was burnished in recent years when rock group The White Stripes covered her 1952 song “Conquest” on their Grammy-winning 2007 album “Icky Thump.”

She was married three times, most recently in 1990.

Page is survived by her two children, and several grandchildren and great-grandchildren.

(Reporting by Eric Kelsey; Editing by Jill Serjeant and Peter Cooney)

Music News Headlines – Yahoo! News

Title Post: U.S. pop singer Patti Page dies at age 85
Url Post: http://www.news.fluser.com/u-s-pop-singer-patti-page-dies-at-age-85/
Link To Post : U.S. pop singer Patti Page dies at age 85
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..

Op-Ed Contributor: Our Imaginary Weight Problem

ACCORDING to the United States government, nearly 7 out of 10 American adults weigh too much. (In 2010, the Centers for Disease Control and Prevention categorized 74 percent of men and 65 percent of women as either overweight or obese.)

But a new meta-analysis of the relationship between weight and mortality risk, involving nearly three million subjects from more than a dozen countries, illustrates just how exaggerated and unscientific that claim is.

The meta-analysis, published this week in The Journal of the American Medical Association, reviewed data from nearly a hundred large epidemiological studies to determine the correlation between body mass and mortality risk. The results ought to stun anyone who assumes the definition of “normal” or “healthy” weight used by our public health authorities is actually supported by the medical literature.

The study, by Katherine M. Flegal and her associates at the C.D.C. and the National Institutes of Health, found that all adults categorized as overweight and most of those categorized as obese have a lower mortality risk than so-called normal-weight individuals. If the government were to redefine normal weight as one that doesn’t increase the risk of death, then about 130 million of the 165 million American adults currently categorized as overweight and obese would be re-categorized as normal weight instead.

To put some flesh on these statistical bones, the study found a 6 percent decrease in mortality risk among people classified as overweight and a 5 percent decrease in people classified as Grade 1 obese, the lowest level (most of the obese fall in this category). This means that average-height women — 5 feet 4 inches — who weigh between 108 and 145 pounds have a higher mortality risk than average-height women who weigh between 146 and 203 pounds. For average-height men — 5 feet 10 inches — those who weigh between 129 and 174 pounds have a higher mortality risk than those who weigh between 175 and 243 pounds.

Now, if we were to employ the logic of our public health authorities, who treat any correlation between weight and increased mortality risk as a good reason to encourage people to try to modify their weight, we ought to be telling the 75 million American adults currently occupying the government’s “healthy weight” category to put on some pounds, so they can move into the lower risk, higher-weight categories.

In reality, of course, it would be nonsensical to tell so-called normal-weight people to try to become heavier to lower their mortality risk. Such advice would ignore the fact that tiny variations in relative risk in observational studies provide no scientific basis for concluding either that those variations are causally related to the variable in question or that this risk would change if the variable were altered.

This is because observational studies merely record statistical correlations: we don’t know to what extent, if any, the slight decrease in mortality risk observed among people defined as overweight or moderately obese is caused by higher weight or by other factors. Similarly, we don’t know whether the small increase in mortality risk observed among very obese people is caused by their weight or by any number of other factors, including lower socioeconomic status, dieting and the weight cycling that accompanies it, social discrimination and stigma, or stress.

In other words, there is no reason to believe that the trivial variations in mortality risk observed across an enormous weight range actually have anything to do with weight or that intentional weight gain or loss would affect that risk in a predictable way.

How did we get into this absurd situation? That is a long and complex story. Over the past century, Americans have become increasingly obsessed with the supposed desirability of thinness, as thinness has become both a marker for upper-class status and a reflection of beauty ideals that bring a kind of privilege.

In addition, baselessly categorizing at least 130 million Americans — and hundreds of millions in the rest of the world — as people in need of “treatment” for their “condition” serves the economic interests of, among others, the multibillion-dollar weight-loss industry and large pharmaceutical companies, which have invested a great deal of money in winning the good will of those who will determine the regulatory fate of the next generation of diet drugs.

Anyone familiar with history will not be surprised to learn that “facts” have been enlisted before to confirm the legitimacy of a cultural obsession and to advance the economic interests of those who profit from that obsession.

Don’t expect those who have made their careers on fomenting panic to understand that our current definition of “normal weight” makes absolutely no sense.

Paul Campos is a professor of law at the University of Colorado, Boulder, and the author of “The Obesity Myth: Why America’s Obsession With Weight Is Hazardous to Your Health.”

Read More..

Dow soars 2% after deal to avoid 'cliff'

NEW YORK (Reuters) - Stocks kicked off the new year with their best day in over a year on Wednesday, sparked by relief over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts that threatened to derail the economy's growth.

In 2013's first trading session, the S&P 500 achieved its biggest one-day gain since December 20, 2011, pushing the benchmark index to its highest close since September 14.

Concerns over Washington's ability to sidestep the cliff had driven the S&P 500 down for five straight sessions, before signs that a resolution was near sent the benchmark index higher on the final trading session of 2012.

The CBOE Volatility Index or the VIX , Wall Street's favorite gauge of investor anxiety, dropped 18.5 percent to 14.68 at the close. The VIX has fallen 35.4 percent over the past two sessions, the biggest 2-day percentage drop in the history of the index.

The Dow Jones industrial average jumped 308.41 points, or 2.35 percent, to 13,412.55 at the close. The Standard & Poor's 500 Index gained 36.23 points, or 2.54 percent, to finish at 1,462.42. The Nasdaq Composite Index climbed 92.75 points, or 3.07 percent, to end at 3,112.26.

U.S. markets were closed on Tuesday for New Year's Day.

Market breadth reflected the strong rally, with 10 stocks rising for every one that fell on the New York Stock Exchange. All 10 of the S&P 500 industry sector indexes gained at least 1 percent. The S&P financial index shot up 2.9 percent.

The S&P Information Technology index gained 3.2 percent, including Hewlett-Packard , which climbed 5.4 percent to $15.02. HP's gain followed a miserable 2012 when the stock fell nearly 45 percent as one of the S&P 500's worst performers for 2012.

On Tuesday, Congress passed a bill to prevent huge tax hikes and delay spending cuts that would have pushed the world's largest economy off a "fiscal cliff" and possibly into recession.

The vote avoided steep income-tax increases for a majority of Americans, but failed to resolve a major showdown over cutting the budget deficit, leaving investors and businesses with only limited clarity about the outlook for the economy. Spending cuts of $109 billion in military and domestic programs were temporarily delayed, and another fight over raising the U.S. debt limit also looms.

"We got through the fiscal cliff. The next big thing, and probably more contentious thing, is negotiating the debt ceiling and possibly entitlement reform in early 2013," said Jim Russell, senior equity strategist for U.S. Bank Wealth Management in Cincinnati.

Hard choices about budget cuts and the critical need to raise the debt ceiling will confront Congress about the same time in two months "so the fur will be flying," Russell said.

U.S. stocks ended 2012 with the S&P 500 up 13.4 percent for the year, as investors largely shrugged off worries about the fiscal cliff. For the year, the Dow gained 7.3 percent and the Nasdaq jumped 15.9 percent.

Bank shares rose following news that U.S. regulators are close to securing another multibillion-dollar settlement with the largest banks to resolve allegations that they unlawfully cut corners when foreclosing on delinquent borrowers.

Bank of America Corp rose 3.7 percent to $12.03 and Citigroup Inc gained 4.3 percent to $41.25. The KBW bank index rose 3.2 percent.

Shares of Zipcar Inc surged 47.8 percent to $12.18 after Avis Budget Group Inc said it would buy Zipcar for about $500 million in cash to compete with larger rivals Hertz and Enterprise Holdings Inc. Avis advanced 4.8 percent to $20.77.

Shares of Apple rose 3.2 percent to $549.03, helping to lift the S&P information technology index up 3.2 percent following a report that the most valuable tech company has started testing a new iPhone and a new version of its iOS software.

Economic data from the Institute for Supply Management showed U.S. manufacturing ended 2012 on an upswing despite fears about the fiscal cliff, but the Commerce Department reported that construction spending fell in November for the first time in eight months.

Volume was heavy, with about 7.8 billion shares traded on the New York Stock Exchange, the NYSE MKT and the Nasdaq, well above the 2012 daily average of 6.42 billion.

(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)

Read More..

House Republicans balk at fiscal cliff deal

WASHINGTON (Reuters) - A months-long battle over the U.S. "fiscal cliff" headed to a close on Tuesday as the House of Representatives moved toward final approval of a bipartisan deal meant to prevent Washington from pushing the world's biggest economy into recession.

The Republican-controlled House was expected to back a tax hike on the top U.S. earners shortly before midnight on Tuesday, ending weeks of high-stakes budget brinkmanship that threatened to spook consumers and throw financial markets into turmoil.

Approval of the bill would be a victory for President Barack Obama, who campaigned for re-election last November on a promise to raise taxes on the wealthiest but faced stiff opposition from congressional Republicans.

Republicans had earlier considered adding hundreds of billions of dollars in spending cuts after the bill had already passed the Senate with strong bipartisan support. That would have triggered further partisan warfare and pushed the crisis well past a self-imposed January 1 deadline.

But party leaders abandoned the effort after determining they lacked the votes.

"We've gone as far as we can go and I think people are ready to bring it to a conclusion," Republican Representative Jack Kingston of Georgia said. "We fought the fight."

Rules Committee Chairman David Dreier, a Republican, predicted the House would back the Senate bill, which also postpones for two months $109 billion in spending cuts on military and domestic programs set for 2013.

The bill easily cleared a procedural hurdle by a bipartisan vote of 408 to 10.

Lawmakers have struggled to find a way to head off across-the-board tax hikes and spending cuts that began to take effect at midnight, a legacy of earlier failed budget deals that is known as the fiscal cliff.

Strictly speaking, the United States went over the cliff in the first minutes of the New Year because Congress failed to produce legislation to halt $600 billion of tax hikes and spending cuts scheduled for this year.

TAX HIKES FOR WEALTHIEST

While many Republicans were uneasy with the tax hikes and wanted more spending cuts in the bill, they seemed to realize that the fiscal cliff would begin to damage the economy once financial markets and federal government offices returned to work on Wednesday. Opinion polls show the public would blame Republicans if a deal were to fall apart.

House Republicans had earlier considered adding $330 billion in spending cuts over 10 years to the Senate bill, which raises taxes on the wealthiest U.S. households by $620 billion over the same period.

But Senate Democrats refused to consider any changes to their bill, which passed 89 to 8 in a rare display of unity early Tuesday.

That measure, which passed the Senate at around 2 a.m., would raise income taxes on families earning more than $450,000 per year and limit the amount of deductions they can take to lower their tax bill.

Low temporary rates that have been in place for the past decade would be made permanent for less-affluent taxpayers, along with a range of targeted tax breaks put in place to fight the 2009 economic downturn.

However, workers would see up to $2,000 more taken out of their paychecks annually with the expiration of a temporary payroll tax cut.

The non-partisan Congressional Budget Office said the Senate bill would increase budget deficits by nearly $4 trillion over the coming 10 years, compared to the budget savings that would occur if the extreme measures of the cliff were to kick in.

But the bill would actually save $650 billion during that time period when measured against the tax and spending policies that were in effect on Monday, according to the Committee for a Responsible Federal Budget, an independent group that has pushed for more aggressive deficit savings.

(Additional reporting by Rachelle Younglai, Thomas Ferraro and David Lawder; Writing by Andy Sullivan; Editing by Alistair Bell and Eric Beech)

Read More..

Playboy Hugh Hefner marries his ‘runaway bride’

LOS ANGELES (AP) — Hugh Hefner is celebrating the new year as a married man once again.

The 86-year-old Playboy magazine founder exchanged vows with his “runaway bride,” Crystal Harris, at a private Playboy Mansion ceremony on New Year’s Eve. Harris, a 26-year-old “Playmate of the Month” in 2009, broke off a previous engagement to Hefner just before they were to be married in 2011.

Playboy said on Tuesday that the couple celebrated at a New Year’s Eve party at the mansion with guests that included comic Jon Lovitz, Gene Simmons of KISS and baseball star Evan Longoria.

The bride wore a strapless gown in soft pink, Hefner a black tux. Hefner’s been married twice before but lived the single life between 1959 and 1989.

Entertainment News Headlines – Yahoo! News

Title Post: Playboy Hugh Hefner marries his ‘runaway bride’
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..