Apple stock's continuing decline drags Wall Street lower
Label: Business
Pakistan turmoil deepens as court orders PM's arrest
Label: WorldISLAMABAD (Reuters) - Pakistan's Supreme Court ordered the arrest of the prime minister on Tuesday on corruption allegations, ratcheting up pressure on a government that is also facing street protests led by a cleric who has a history of ties to the army.
The combination of the arrest order and the mass protest in the capital Islamabad led by Muslim cleric Muhammad Tahirul Qadri raised fears among politicians that the military was working with the judiciary to force out a civilian leader.
"There is no doubt that Qadri's march and the Supreme Court's verdict were masterminded by the military establishment of Pakistan," Fawad Chaudhry, an aide to Prime Minister Raja Pervez Ashraf, told Reuters.
"The military can intervene at this moment as the Supreme Court has opened a way for it."
However, the ruling coalition led by the Pakistan Peoples' Party (PPP) has a majority in parliament and lawmakers can simply elect another prime minister if Ashraf is ousted. In June, Ashraf replaced Prime Minister Yusuf Raza Gilani, who was disqualified by the Supreme Court in a previous showdown between the government and the judiciary.
Also, elections are due in a few months and President Asif Ali Zardari hopes to lead the first civilian government in Pakistan's 65 years as an independent nation that will complete its full term.
But power struggles will distract the unpopular government from tackling an array of problems - a Taliban insurgency, economic stagnation and growing sectarian tensions triggered by bomb attacks and tit-for-tat shootings.
The military, which sees itself as the guarantor of Pakistan's stability, has long regarded the PPP-led government as corrupt, incompetent and unable to prevent the nuclear-armed country from falling apart.
Pakistan's powerful army has a long history of coups and intervening in politics. But these days generals seem to have little appetite for a coup. Army chief General Ashfaq Kayani has vowed to keep the military out of politics.
But many believe top military leaders still try to exert behind-the-scenes influence, and any moves by the military in the latest crisis could not happen without a green light from Kayani, arguably the most powerful man in Pakistan.
"Extra-constitutional regime change, or "outside of the political calendar" if you will, is only possible in Pakistan with the tacit nod of the military, on account of it being a long-time stakeholder in Pakistani politics," said Shamila Chaudhry, an analyst at Eurasia Group.
"The Qadri march was like a trial balloon. The military indirectly sent it out to see if it would work."
Some politicians believe the military will try to dominate the caretaker administration that will oversee the run-up to the polls after parliament is dissolved, which is due to happen in March. An election date has yet to be announced.
The protest by Qadri and his followers has also been seen by commentators as being orchestrated by the military to add to the pressure on Zardari's government, although the military has denied any ties to the cleric.
PEOPLE'S MONEY
Thousands of followers of the populist cleric camped near the federal parliament cheered and waved Pakistani flags as television channels broadcast news of the Supreme Court's order to arrest Ashraf on charges of corruption.
"We don't want any of those old politicians. They just take all the people's money," said 19-year-old student Mohammed Wasim. "We congratulate the whole nation (on the Supreme Court's order). Now we have to take the rest of the thieves to court."
Government officials said they were baffled by the arrest order, which came hours after Chief Justice Iftikhar Chaudhry said elections should go ahead as scheduled.
"This was totally unexpected," an official in Ashraf's office told Reuters. "The prime minister and two or three of his friends were watching Qadri speak on television and this suddenly happened."
Pakistan's stock exchange fell by more than 500 points, or nearly three percent, on news of the court order, due to fears over fresh political turmoil, which comes against a backdrop of militant bombings and tension on the border with India.
Qadri, who played a role in backing a military coup in 1999, threatened to remain camped out near the federal parliament with thousands of supporters until his demands for the resignation of the government were met.
The fiery orator returned home from Canada less than a month ago to lead a call for electoral reforms to bar corrupt politicians from office that has made him an instant hit among Pakistanis disillusioned with the state.
In a speech from behind a bullet-proof shield in front of parliament, Qadri praised the military and the judiciary, the country's two other power centers.
"(The government) has wasted and brought a bad end to our armed forces, those armed forces who are highly sincere, highly competent and highly capable and highly professional," he said, alternating between Urdu and English.
"Even they can't do anything because the political government isn't able to deliver anything from this land. Judgments are being passed by our great, independent judiciary but the government is not ready to implement them."
Qadri is demanding that the government dissolve the legislature and announce the formation of a caretaker government to oversee the run-up to elections.
One senior military officer, who said he was speaking in a purely personal capacity, said there was no appetite in the military to repeat the coups seen in Pakistan's past, but added the stand-off could be resolved if the army played a role in the formation of a caretaker government as a "moderator".
"We should try as far as possible to abide by the constitution and law in looking for change. The army chief has made this clear," the officer told Reuters.
"But things seem to be moving beyond control," the officer added. "It is totally incorrect to say the army is behind Qadri. But if he brings thousands of people to the streets and things get worse, there may be very few options."
(Additional reporting by Matthew Green and Mubasher Bukhari in ISLAMABAD and Jibran Ahmad in PESHAWAR; Writing by Michael Georgy; Editing by Raju Gopalakrishnan)
Tata Consultancy says demand in U.S. strong across segments
Label: TechnologyMUMBAI/BANGALORE (Reuters) – India’s top software services provider Tata Consultancy Services Ltd (TCS) said demand in the key U.S. market is strong across its business segments, with regional banks stepping up spending on technology.
The Mumbai-based company said on Monday that profit jumped 23 percent in the quarter ended December, beating analysts‘ expectations. TCS also gave an upbeat growth outlook, sending its shares up the most in more than eight months and prompting analyst upgrades on the stock.
Economic uncertainty in the United States had fuelled investor worry that clients may keep their IT budgets tight and postpone decision-making on technology spending.
“The U.S. is still a growth market,” Chief Financial Officer S Mahalingam told Reuters in an interview at his Mumbai office on Tuesday. “If it sneezes then we have got a big problem. (But) the demand is very good across all segments.”
The United States accounts for about half of TCS’ revenue, compared with more than 60 percent overall for India’s $ 100 billion outsourcing industry.
Banks, insurers and other financial services clients usually account for more than a third of the revenue at companies such as TCS’ rival Infosys Ltd , where better-than-expected results on Friday and an increased revenue outlook powered a 20 percent rise in its shares over two sessions.
“(The) U.S. economy has regional banks as well, and they are starting to spend. So there is growth,” Mahalingam said.
While Monday’s results prompted analysts from HSBC and CLSA to increase their ratings on TCS stock, some analysts said volume growth was not especially impressive.
Volumes, or billable hours, rose 1.25 percent on a sequential basis, while revenue in dollar terms increased 3.3 percent over the September quarter.
“The key disappointment was soft volume growth of 1.25 percent quarter-on-quarter. However, we remain assured by management’s optimistic outlook on FY14 growth,” Nomura analysts wrote in a note to clients.
(Editing by Tony Munroe and Ryan Woo)
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Mindy McCready's Boyfriend David Wilson Died of a Self-Inflicted Gunshot Wound
Label: LifestyleBy Steve Helling
01/15/2013 at 11:30 AM EST
"It was good news," her rep, Kat Atwood, tells PEOPLE. "The custody battle was over. Zander was comfortable at home with Mindy. She had a new baby. Things were going well."
But everything fell apart for McCready on Sunday night, when her partner, David Wilson, shot himself.
"It was a self-inflicted gunshot wound," Atwood says. "Now they're working on funeral arrangements and figuring out where to go from here."
For the first 24 hours after the shooting, McCready, 37, was alone with her children. (She and Wilson had a 9-month-old son, Zayne.) "Her family drove up from Florida," says Atwood. "I'm not exactly sure when they got there, but her personal friends arrived late last night."
This marks the latest setback in the troubled life of McCready, who has struggled with custody battles, addiction and her own suicide attempts.
Those close to her hope that the love of family and friends will help her through this difficult ordeal. "She is surrounded by people who love her and are there for her," says Atwood. "It's a very sad time, but she has support in place."
Experts: Proposed NY gun law might hinder therapy
Label: HealthNEW YORK (AP) — Mental health experts say a proposed New York state gun control law might interfere with treatment of potentially dangerous people and even discourage them from seeking help.
One provision would require therapists and doctors to tell government authorities if they believe a patient is likely to harm himself or others. That could lead to revoking a patient's gun permit and seizing the gun.
Dr. Paul Appelbaum, director of law, ethics and psychiatry at Columbia University, said that provision might discourage people from revealing thoughts of harm to a therapist, or even from seeking treatment at all.
Dr. Mark Olfson, a psychiatry professor at Columbia, said if the law is crudely applied, it could erode the trust patients have in their doctors which is needed for effective care.
S&P, Nasdaq dip as Apple weighs
Label: BusinessNEW YORK (Reuters) - Wall Street slipped on Monday, weighed down by shares of Apple in the face of demand concerns, while investors faced a busy week for earnings in what is expected to be a lackluster quarter.
Apple lost 2.8 percent to $505.84 as the biggest drag on both the S&P 500 and Nasdaq 100 <.ndx> indexes after reports that the tech company has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock earlier hit a session low of $498.51, the first dip below $500 since February 16.
"There is this speculation building 'Is this the end of Apple?'" said Carol Pepper, chief executive of Pepper International in New York.
But Pepper said Apple also "doesn't have to grow at the rate it was to do extremely well. It's still going to be one of the marquee companies of the U.S. and the world."
Apple suppliers also lost ground, with Cirrus Logic
The pace of earnings season picks up this week with 38 S&P 500 companies set to report, including Goldman Sachs
Overall earnings are expected to grow by just 1.9 percent in this reporting period, according to Thomson Reuters data.
President Barack Obama is expected to hold a news conference, which will cover looming budget and debt ceiling due dates on Monday, White House officials said.
"We could have some more noise because they are trying to get people to focus on their issues, but I don't think they are going" to allow the government to default, said Pepper.
Separately, Federal Reserve Chairman Ben Bernanke will be speaking on monetary policy, recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (2100 GMT).
The Dow Jones industrial average <.dji> added 6.79 points, or 0.05 percent, to 13,495.22. The Standard & Poor's 500 Index <.spx> shed 3.37 points, or 0.23 percent, to 1,468.68. The Nasdaq Composite Index <.ixic> lost 14.16 points, or 0.45 percent, to 3,111.48.
Appliance and electronics retailer Hhgregg Inc
Transocean Ltd
The Dow, which does not list Apple as one of its components, fared better than the other two indexes as Hewlett-Packard
(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)
Syria war envelops region in "staggering" crisis: aid agency
Label: WorldBEIRUT (Reuters) - Syria's civil war is unleashing a "staggering humanitarian crisis" on the Middle East as hundreds of thousands of refugees flee violence including gang rape, an international aid agency said on Monday.
Opposition activists said an air strike on rebel-held territory southwest of Damascus killed 20 people, including women and children, adding to the more than 60,000 people estimated to have been killed in the 21-month-old conflict.
Over 600,000 Syrians have fled abroad - many to neighboring Turkey, Lebanon and Jordan - as violence has spread and international efforts to find a political solution have sagged.
Refugees interviewed by the International Rescue Committee (IRC) cited sexual violence as a major reason they fled the country, the New York-based organization said in a 23-page report on the crisis published on Monday.
Gang rapes often happened in front of family members and women had been kidnapped, raped, tortured and killed, it said.
"After decades of working in war and disaster zones, the IRC knows that women and girls suffer physical and sexual violence in every conflict. Syria is no exception," the group added.
Rebels and government forces have both been accused of human rights abuses during the conflict, which began with peaceful protests against President Bashar al-Assad in March 2011.
The unrest turned violent after government forces fired on demonstrators and has since become a full-scale civil war.
Fierce winter weather has worsened the plight of hundreds of thousands of refugees. The IRC urged donors to step up planning and funding in the expectation that more Syrians will flee.
"Nearly two years into Syria's civil war, the region faces a staggering humanitarian disaster," the IRC report said.
AIR POWER
Despite advancing in Syria's north and east and winning support from regional powers like Turkey and Saudi Arabia, the Syrian rebels have been unable to break a military stalemate with government forces elsewhere.
They have struggled to counter government air power in particular, making it hard for them to take and hold territory crucial to Assad's grip on power, including major cities.
An activist in Moadamiyeh, a rebel-held town southwest of Damascus, said an air strike there killed 20 people on Monday.
Activist video footage showed images of the limp body of a boy being pulled out from broken concrete, his back covered in dust and his front in blood.
The Syrian Observatory for Human Rights, a Britain-based monitoring group, said at least 13 people had died in the air raid but the toll was likely to rise.
Syrian state television said "terrorists" - its word for rebels - had fired a mortar from the Damascus suburb of Daraya on a civilian building in Moadamiyeh, killing women and children.
The reports could not be independently verified because of government restrictions on independent media in Syria.
Syrian warplanes also bombarded the strategic Taftanaz air base that rebels seized last week, the Observatory said.
In another sign of escalating bloodshed, Human Rights Watch said it had evidence that government forces had used multi-barrel rocket launchers to deliver Egyptian-made cluster munitions in recent attacks.
"Syria is escalating and expanding its use of cluster munitions, despite international condemnation of its embrace of this banned weapon," it said.
DEADLOCK
Syria's rising death toll has brought international intervention no closer. The United States and Russia have been deadlocked over how to resolve the crisis.
Moscow - which has continued to back its long-standing ally and arms client Assad - urged the opposition on Sunday to make its own proposals in response to a speech by Assad a week ago.
The speech, which offered no concessions, was criticized by the United Nations and United States. Syrian rebels described it as a renewed declaration of war.
Talks between Russia and the United States in Geneva on Friday failed to produce a breakthrough.
As diplomatic efforts have stalled, the conflict has continued to draw in Syria's neighbors.
A mortar round apparently fired from Syria crashed in a field in Turkey overnight close to a refugee camp housing thousands of Syrians along the border, Turkish state media said.
NATO troops have begun deploying Patriot defense missiles in Turkey against a potential attack from its southern neighbor. The missiles are expected to be operational by the end of the month. Turkey is a strong supporter of the Syrian rebels.
NATO said Syrian government forces had launched a short-range, Scud-style ballistic missile on Sunday, bringing to more than 20 the number launched in the past month.
The missiles, apparently fired against opposition targets, landed in Syrian territory, mostly in northern Syria, a NATO spokeswoman said in Brussels, but some of the missiles landed "quite close" to the Turkish frontier.
(Additional reporting by Laila Bassam in Beirut and Adrian Croft in Brussels; Writing by Alexander Dziadosz; Editing by Mark Heinrich)
RIM says 15,000 BlackBerry 10 apps submitted in under two days
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It'll Be a Girl for Nick & JoAnna Garcia Swisher
Label: Lifestyle
Mom & Babies
Celebrity Baby Blog
01/14/2013 at 11:45 AM ET
Paul Marks/Broadimage
This spring will bring more than just May flowers for Nick and JoAnna Garcia Swisher — the couple will welcome a baby girl that month as well, they confirm to PEOPLE exclusively.
“I’m just so excited,” the outfielder and first baseman, 32, told PEOPLE at the InStyle/Warner Brothers Golden Globes after party on Sunday. “As long as she’s healthy, that’s all I really care about.”
As for the mommy-to-be, 33, the former Animal Practice star is just enjoying the “honeymoon stage” of her pregnancy after a “humbling” week of being “really into mayonnaise.”
“I tried to put it on everything but that faded,” Garcia Swisher, who was wearing Marina B. jewelry, explains. “Now I’m just trying to eat healthy and you know, the further I get in the pregnancy the more I need to eat!”
With Swisher — who recently wrapped a stint with the New York Yankees — accepting an offer to play for the Cleveland Indians, the expectant parents have been busy prepping three different nurseries for their bundle of joy.
“My husband works in one city, I work in a second city and we live in a third city, so we have a lot of cribs to buy,” the actress shares.
And though they’ve got several more months to go, the couple can’t wait to meet their daughter.
“It’s been a wonderful journey for us to be able to do this together,” says Swisher. “It’s going to be great. In a couple of months, our lives are going to turn upside-down.”
– Melody Chiu
Flu more widespread in US; eases off in some areas
Label: HealthNEW YORK (AP) — Flu is now widespread in all but three states as the nation grapples with an earlier-than-normal season. But there was one bit of good news Friday: The number of hard-hit areas declined.
The flu season in the U.S. got under way a month early, in December, driven by a strain that tends to make people sicker. That led to worries that it might be a bad season, following one of the mildest flu seasons in recent memory.
The latest numbers do show that the flu surpassed an "epidemic" threshold last week. That is based on deaths from pneumonia and influenza in 122 U.S. cities. However, it's not unusual — the epidemic level varies at different times of the year, and it was breached earlier this flu season, in October and November.
And there's a hint that the flu season may already have peaked in some spots, like in the South. Still, officials there and elsewhere are bracing for more sickness
In Ohio, administrators at Miami University are anxious that a bug that hit employees will spread to students when they return to the Oxford campus next week.
"Everybody's been sick. It's miserable," said Ritter Hoy, a spokeswoman for the 17,000-student school.
Despite the early start, health officials say it's not too late to get a flu shot. The vaccine is considered a good — though not perfect — protection against getting really sick from the flu.
Flu was widespread in 47 states last week, up from 41 the week before, the Centers for Disease Control and Prevention said on Friday. The only states without widespread flu were California, Mississippi and Hawaii.
The number of hard-hit states fell to 24 from 29, where larger numbers of people were treated for flu-like illness. Now off that list: Florida, Arkansas and South Carolina in the South, the first region hit this flu season.
Recent flu reports included holiday weeks when some doctor's offices were closed, so it will probably take a couple more weeks to get a better picture, CDC officials said Friday. Experts say so far say the season looks moderate.
"Only time will tell how moderate or severe this flu season will be," CDC Director Dr. Thomas Frieden said Friday in a teleconference with reporters.
The government doesn't keep a running tally of adult deaths from the flu, but estimates that it kills about 24,000 people in an average year. Nationally, 20 children have died from the flu this season.
Flu vaccinations are recommended for everyone 6 months or older. Since the swine flu epidemic in 2009, vaccination rates have increased in the U.S., but more than half of Americans haven't gotten this year's vaccine.
Nearly 130 million doses of flu vaccine were distributed this year, and at least 112 million have been used. Vaccine is still available, but supplies may have run low in some locations, officials said.
To find a shot, "you may have to call a couple places," said Dr. Patricia Quinlisk, who tracks the flu in Iowa.
In midtown Manhattan, Hyrmete Sciuto got a flu shot Friday at a drugstore. She skipped it in recent years, but news reports about the flu this week worried her.
During her commute from Edgewater, N.J., by ferry and bus, "I have people coughing in my face," she said. "I didn't want to risk it this year."
The vaccine is no guarantee, though, that you won't get sick. On Friday, CDC officials said a recent study of more than 1,100 people has concluded the current flu vaccine is 62 percent effective. That means the average vaccinated person is 62 percent less likely to get a case of flu that sends them to the doctor, compared to people who don't get the vaccine. That's in line with other years.
The vaccine is reformulated annually, and this year's is a good match to the viruses going around.
The flu's early arrival coincided with spikes in flu-like illnesses caused by other bugs, including a new norovirus that causes vomiting and diarrhea, or what is commonly known as "stomach flu." Those illnesses likely are part of the heavy traffic in hospital and clinic waiting rooms, CDC officials said.
Europeans also are suffering an early flu season, though a milder strain predominates there. China, Japan, the West Bank, the Gaza Strip, Algeria and the Republic of Congo have also reported increasing flu.
Flu usually peaks in midwinter. Symptoms can include fever, cough, runny nose, head and body aches and fatigue. Some people also suffer vomiting and diarrhea, and some develop pneumonia or other severe complications.
Most people with flu have a mild illness. But people with severe symptoms should see a doctor. They may be given antiviral drugs or other medications to ease symptoms.
Some shortages have been reported for children's liquid Tamiflu, a prescription medicine used to treat flu. But health officials say adult Tamiflu pills are available, and pharmacists can convert those to doses for children.
___
Associated Press writers Dan Sewell in Cincinnati, Catherine Lucey in Des Moines, and Malcolm Ritter in New York contributed to this report.
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Online:
CDC flu: http://www.cdc.gov/flu/index.htm
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