Apple takes investors on a wild ride

SAN FRANCISCO — With only modest expectations, Robert Leitao of Santa Clarita made a decision in 1994 that would change his life. He bought Apple stock.

This was several years before Steve Jobs returned to resurrect Apple, long before the iPod, the iPhone or the iPads that would make Apple the most valuable company in the world. A $1 investment in Apple at the start of 1994 is now worth about $70.

"Even with the recent sell-off, I'm still doing very well with the stock," said Leitao, who works as director of operations at a Catholic church in Burbank. "Apple provided for a down payment on our home for our blended family of four kids."

Leitao is one of the countless people whose lives have been touched by Apple's stock, which has become a global economic force. It is now one of the most widely held stocks, and the most valuable. Even as Apple Inc.'s market value fell to $480 billion on Friday, it was still larger than the gross domestic product of Norway or Argentina, and more than the combined value of Google Inc. and Microsoft Corp.

Yet that astonishing size and economic influence is also what, many analysts believe, contributes to the extraordinary volatility that can make owning Apple's stock a hair-raising experience.

It was inevitable, analysts say, that after Apple's stock rose 74% in the first nine months of this year, a huge wave of selling would occur as fund managers locked in their profits. And yet, in recent years, these huge dips have been followed by even bigger run-ups that led to new record highs, a dynamic that one trader refers to as the "Apple slingshot."

That pattern has some analysts betting Apple will soar above $1,000 a share in 2013, a scenario almost guaranteed to drive the global obsession with the company's stock into an even greater frenzy.

"The impact on shareholders and on the economy is incredible," said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. "We've not seen anything like this in the modern trading era. Ever."

Even after the remarkable decade of Apple's revival, the company's stock managed to reach new milestones this year. Early in 2012, Apple became the sixth company ever to surpass $500 billion in market value. In August, it became the only company in history with a market value topping $622 billion.

That performance affects just about anyone who has a 401(k) account or a pension. According to FactSet, a research firm that tracks investment funds, 2,555 institutional investors — mutual funds, hedge funds and pension funds, among others — owned stock in Apple, just behind the 2,590 that held Microsoft stock, as of Sept. 30, the most recent date funds had to disclose their holdings. However, the value of that Apple stock held by institutional investors on that day was $427 billion, compared with $172 billion for Microsoft, according to FactSet.

Silverblatt said the only company that has come close to having such a strong influence on the broader stock markets since World War II is IBM in the early 1980s, when the PC revolution was just getting started. But not only is the value of Apple's stock remarkable, so is its volatility. Such large stocks rarely have such big, quick swings.

Apple shares peaked at $702.10 on Sept. 19, up from $401.44 at the start of the year, a run that astonished analysts. But just as remarkable has been its collapse, falling as low as $505.75 in intra-day trading Nov. 16.

"It's just amazing because it's such a large company," said Brian Colello, a senior research analyst at Morningstar. "The company lost about $35 billion in market cap in one day. That's the size of some large-cap stocks."

Yet such swings have become commonplace for Apple stock. Before its latest swoon of 23.4% since its September high, Apple had experienced three previous corrections of more than 10% over the last two years.

The value of Apple's stock and its extreme swings have made researching it and trading it almost a full-time job for some people. Jason Schwarz of Marina del Rey edits EconomicTiming.com, which sends out up to five newsletters each week to its 1,000 clients that focus in large measure on Apple. He also helps run Lone Peak Asset Management, which has about $500 million in assets.

Schwarz says that what he calls the "Apple slingshot" is actually a virtue of the shares.

"The extraordinary volatility is the result of Apple's strength," Schwarz said. "People try to blame the volatility on Apple's weaknesses."

Schwarz and many other Apple believers argue that people are making a big mistake when they try to understand the stock's behavior by focusing on various bits of bad news such as an executive shake-up, the Maps controversy or questions about market share or competition. They have almost nothing to do with the regular hits taken by Apple shares, the argument goes.

Instead, folks like Schwarz say more technical factors are at work, such as the fact that the fiscal year for many stock funds ends Oct. 31. When the stock peaked in September, many fund managers rushed to sell to lock in profits for the year. Apple stock makes so much money for so many people, then plummets when shareholders pause to reap their profits, Schwarz says.

The volatility has continued in recent weeks, the argument goes, because fears of higher taxes next year have many fund managers trying to take advantage of short-term swings to make bigger profits. That volatility offers tantalizing windows for huge, short-term profits for investors willing to take the risk.

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“Bennifer” buried as Ben Affleck’s star soars

LOS ANGELES (Reuters) – It has taken 10 years of hard work and indie movies, but Ben Affleck finally has moved past his “Bennifer” nightmare.

Affleck, 40, once a tabloid staple who risked becoming a laughingstock during his romance with Jennifer Lopez and their movie flop “Gigli,” is back on top in Hollywood, winning accolades for his work both in front of and behind the camera.

Fifteen years after Affleck shared an Oscar with Matt Damon for their first screenplay, “Good Will Hunting,” buzz is building over a likely second Academy Award nomination next month. It would be Affleck’s first since 1997.

“Finally, people now are ready to go, ‘Wow! He’s at the very top of the food chain,’” Damon told Reuters.

Affleck’s latest film “Argo,” a part-thriller, part-comedic tale of the real-life rescue of six American diplomats from Iran in 1980, this week picked up five Golden Globe nominations and a nod from the Screen Actors Guild for its top prize of best ensemble cast.

The film, which Affleck directed, produced and stars in, has also delighted critics and brought in some $ 160 million at the worldwide box office.

In “Argo,” Affleck’s clean-cut looks are hidden under a long, shaggy 1970s hair cut and beard as he plays CIA officer Tony Mendez, who devised a fake film project to spirit six hostages out of Tehran after the Islamic revolution.

The kudos Affleck is now receiving follows the embarrassing headlines he attracted over his 2002-2004 romance with Lopez.

“It was tough to watch him get kicked in the teeth for all those years because the perception of him was so not who he actually was,” Damon said.

“It was upsetting for a lot of his friends because he’s the smartest, funnest, nicest, kindest, incredibly talented guy. … So that was tough. Now I’m just thrilled. … He deserves everything that he’s going to get,” he added.

With a huge, pink diamond engagement ring for Lopez and gossip about matching Rolls Royces, the pair dubbed “Bennifer” starred in the 2003 comedy romance “Gigli,” which earned multiple Razzie awards for the worst comedy of the year.

SELLING MAGAZINES NOT MOVIES

Damon, by contrast, was seeing his career surge with “The Bourne Identity,” “Syriana” and “The Departed.” But he recalls Affleck’s pain.

“He said (to me), ‘I am in the absolute worst place you can be. I sell magazines, not movie tickets.’ I remember our agent called up the editor of Us Weekly, begging her not to put him on the cover any more. Please stop. Just stop,” Damon said.

About a year after splitting with Lopez, Affleck married actress Jennifer Garner, had the first of three children with her, and started writing and directing small but admired movies like “Gone Baby Gone” in 2007 and 2010′s gritty crime film “The Town.”

Last month, Affleck was named Entertainment Weekly’s entertainer of the year, largely on the back of “Argo.”

The actor-turned-director said that managing the various tones of the film was his hardest challenge.

“I had to synthesize comedic elements and the political stuff and this true-life drama thriller story. … It was scary and it was daunting,” Affleck told Reuters, saying he powered through by “overworking it by a multiple of ten.”

A trip to the Oscars ceremony in February is now considered a shoo-in by awards pundits, but Affleck is not convinced that success is sweeter the second time around.

“It’s harder. On the one hand, coming from obscurity, you have a neutral starting place. Because of the tabloid press and over exposure, I was starting from a deficit,” he said.

“It can be very unpleasant to be in the midst of a lot of ugliness. But I just put my head down and decided … I was going to work as hard as I could, and I never let the possibility enter my mind that I might fail – at least consciously. Subconsciously, I knew I could fail and I was really scared, so it made me work harder.”

(Additional reporting by Zorianna Kit; Editing by Will Dunham)

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School Yoga Class Draws Religious Protest From Christians

T. Lynne Pixley for The New York Times

Miriam Ruiz during a yoga class last week at Paul Ecke Central Elementary School in Encinitas, Calif. A few dozen parents are protesting that the program amounts to religious indoctrination.

ENCINITAS, Calif. — By 9:30 a.m. at Paul Ecke Central Elementary School, tiny feet were shifting from downward dog pose to chair pose to warrior pose in surprisingly swift, accurate movements. A circle of 6- and 7-year-olds contorted their frames, making monkey noises and repeating confidence-boosting mantras.

Jackie Bergeron’s first-grade yoga class was in full swing.

“Inhale. Exhale. Peekaboo!” Ms. Bergeron said from the front of the class. “Now, warrior pose. I am strong! I am brave!”

Though the yoga class had a notably calming effect on the children, things were far from placid outside the gymnasium.

A small but vocal group of parents, spurred on by the head of a local conservative advocacy group, has likened these 30-minute yoga classes to religious indoctrination. They say the classes — part of a comprehensive program offered to all public school students in this affluent suburb north of San Diego — represent a violation of the First Amendment.

After the classes prompted discussion in local evangelical churches, parents said they were concerned that the exercises might nudge their children closer to ancient Hindu beliefs.

Mary Eady, the parent of a first grader, said the classes were rooted in the deeply religious practice of Ashtanga yoga, in which physical actions are inextricable from the spiritual beliefs underlying them.

“They’re not just teaching physical poses, they’re teaching children how to think and how to make decisions,” Ms. Eady said. “They’re teaching children how to meditate and how to look within for peace and for comfort. They’re using this as a tool for many things beyond just stretching.”

Ms. Eady and a few dozen other parents say a public school system should not be leading students down any particular religious path. Teaching children how to engage in spiritual exercises like meditation familiarizes young minds with certain religious viewpoints and practices, they say, and a public classroom is no place for that.

Underlying the controversy is the source of the program’s financing. The pilot project is supported by the Jois Foundation, a nonprofit organization founded in memory of Krishna Pattabhi Jois, who is considered the father of Ashtanga yoga.

Dean Broyles, the president and chief counsel of the National Center for Law and Policy, a nonprofit law firm that champions religious freedom and traditional marriage, according to its Web site, has dug up quotes from Jois Foundation leaders, who talk about the inseparability of the physical act of yoga from a broader spiritual quest. Mr. Broyles argued that such quotes betrayed the group’s broader evangelistic purpose.

“There is a transparent promotion of Hindu religious beliefs and practices in the public schools through this Ashtanga yoga program,” he said.

“The analog would be if we substituted for this program a charismatic Christian praise and worship physical education program,” he said.

The battle over yoga in schools has been raging for years across the country but has typically focused on charter schools, which receive public financing but set their own curriculums.

The move by the Encinitas Union School District to mandate yoga classes for all students who do not opt out has elevated the discussion. And it has split an already divided community.

The district serves the liberal beach neighborhoods of Encinitas, including Leucadia, where Paul Ecke Central Elementary is, as well as more conservative inland communities. On the coast, bumper stickers reading “Keep Leucadia Funky” are borne proudly. Farther inland, cars are more likely to feature the Christian fish symbol, and large evangelical congregations play an important role in shaping local philosophy.

Opponents of the yoga classes have started an online petition to remove the course from the district’s curriculum. They have shown up at school board meetings to denounce the program, and Mr. Broyles has threatened to sue if the board does not address their concerns.

The district has stood firm. Tim Baird, the schools superintendent, has defended the yoga classes as merely another element of a broader program designed to promote children’s physical and mental well-being. The notion that yoga teachers have designs on converting tender young minds to Hinduism is incorrect, he said.

“That’s why we have an opt-out clause,” Mr. Baird said. “If your faith is such that you believe that simply by doing the gorilla pose, you’re invoking the Hindu gods, then by all means your child can be doing something else.”

Ms. Eady is not convinced.

“Yoga poses are representative of Hindu deities and Hindu stories about the actions and interactions of those deities with humans,” she said. “There’s content even in the movement, just as with baptism there’s content in the movement.”

Russell Case, a representative of the Jois Foundation, said the parents’ fears were misguided.

“They’re concerned that we’re putting our God before their God,” Mr. Case said. “They’re worried about competition. But we’re much closer to them than they think. We’re good Christians that just like to do yoga because it helps us to be better people.”

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Microsoft Battles Google by Hiring Political Brawler Mark Penn

SEATTLE — Mark Penn made a name for himself in Washington by bulldozing enemies of the Clintons. Now he spends his days trying to do the same to Google, on behalf of its archrival Microsoft.

Since Mr. Penn was put in charge of “strategic and special projects” at Microsoft in August, much of his job has involved efforts to trip up Google, which Microsoft has failed to dislodge from its perch atop the lucrative Internet search market.

Drawing on his background in polling, data crunching and campaigning, Mr. Penn created a holiday commercial that has been running during Monday Night Football and other shows, in which Microsoft criticizes Google for polluting the quality of its shopping search results with advertisements. “Don’t get scroogled,” it warns. His other projects include a blind taste test, Coke-versus-Pepsi style, of search results from Google and Microsoft’s Bing.

The campaigns by Mr. Penn, 58, a longtime political operative known for his brusque personality and scorched-earth tactics, are part of a broader effort at Microsoft to give its marketing the nimbleness of a political campaign, where a candidate can turn an opponent’s gaffe into a damaging commercial within hours. They are also a sign of the company’s mounting frustration with Google after losing billions of dollars a year on its search efforts, while losing ground to Google in the browser and smartphones markets and other areas.

Microsoft has long attacked Google from the shadows, whispering to regulators, journalists and anyone else who would listen that Google was a privacy-violating, anticompetitive bully. The fruits of its recent work in this area could come next week, when the Federal Trade Commission is expected to announce the results of its antitrust investigation of Google, a case that echoes Microsoft’s own antitrust suit in the 1990s. A similar investigation by the European Union is also wrapping up. A bad outcome for Google in either one would be a victory for Microsoft.

But Microsoft, based in Redmond, Wash., has realized that it cannot rely only on regulators to scrutinize Google — which is where Mr. Penn comes in. He is increasing the urgency of Microsoft’s efforts and focusing on their more public side.

In an interview, Mr. Penn said companies underestimated the importance of policy issues like privacy to consumers, as opposed to politicians and regulators. “It’s not about whether they can get them through Washington,” he said. “It’s whether they can get them through Main Street.”

Jill Hazelbaker, a Google spokeswoman, declined to comment on Microsoft’s actions specifically, but said that while Google also employed lobbyists and marketers, “our focus is on Google and the positive impact our industry has on society, not the competition.”

In Washington, Mr. Penn is a lightning rod. He developed a relationship with the Clintons as a pollster during President Bill Clinton’s 1996 re-election campaign, when he helped identify the value of “soccer moms” and other niche voter groups.

As chief strategist for Hillary Clinton’s unsuccessful 2008 campaign for president, he conceived the “3 a.m.” commercial that raised doubts about whether Barack Obama, then a senator, was ready for the Oval Office. Mr. Penn argued in an essay he wrote for Time magazine in May that “negative ads are, by and large, good for our democracy.”

But his approach has ended up souring many of his professional relationships. He left Mrs. Clinton’s campaign after an uproar about his consulting work for the government of Colombia, which was seeking the passage of a trade treaty with the United States that Mrs. Clinton, then a senator, opposed.

“Google should be prepared for everything but the kitchen sink thrown at them,” said a former colleague who worked closely with Mr. Penn in politics and spoke on condition of anonymity. “Actually, they should be prepared for the kitchen sink to be thrown at them, too.”

Hiring Mr. Penn demonstrates how seriously Microsoft is taking this fight, said Michael A. Cusumano, a business professor at M.I.T. who co-wrote a book about Microsoft’s browser war.

“They’re pulling out all the stops to do whatever they can to halt Google’s advance, just as their competition did to them,” Professor Cusumano said. “I suppose that if Microsoft can actually put a doubt in people’s mind that Google isn’t unbiased and has become some kind of evil empire, they might very well get results.”

Nick Wingfield reported from Seattle and Claire Cain Miller from San Francisco.

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The last call for a skid row era at King Eddy Saloon

Wire-thin and slumped like a question mark, James Maley nurses a watered-down whiskey at the battered bar inside the King Eddy Saloon. Around him a boisterous crowd presses in. Maley taps a cracked fingernail nervously on his glass and stares warily at the newcomers.

They've come to see novelist John Fante's son, Dan Fante, read at the bar that inspired his father's 1939 classic "Ask the Dust." They're also here to experience skid row's last dive bar before it shuts down for renovations on Sunday.

"If this happened every day, I would never show up," says Maley, who lives in transitional housing a few blocks away.

Other time-worn regulars, many with leathery skin, bad teeth and watchful eyes, nod in agreement. The bar provides home and family for those who have neither. They come for community and to spend what little money they have on plastic pitchers of beer and $2.50 gin and tonics.

PHOTOS: Last Call at King Eddy Saloon

When the Fante reading ends, the interlopers quickly disperse.

"There go the slummers," says John Tottenham, a poet who has been coming to the King Eddy since the 1980s.

Chances are the crowds will be back when the bar reopens under new management. The owners plan to use old photos to restore the bar's Midcentury look. They hope to renovate the abandoned speak-easy in the basement and open the bar's windows that are covered by stucco, letting natural light into the place for the first time in decades.

They haven't finalized their plans, but one thing is for sure. Drinks won't come cheap at the new King Eddy.

The bar is located on the corner of 5th and Los Angeles streets in the King Edward Hotel, which was built in 1906 and was a tony destination for visitors to what was once a thriving commercial district. The hotel now provides low-income housing for many of King Eddy's regulars.

The pre-Prohibition era King Eddy is painted black. With neon beer signs providing most of its light, the room is dim and gloomy. Its black-and-white checkered floor is grimy. Plastic beer flags hang from the ceiling and the place smells of stale smoke and disinfectant.

The bar itself, shaped in a square, commands the center of the room, with cracked vinyl banquettes lining the perimeter. A glassed-in smoking space is set off to the side. Behind the bar is a tiny fluorescent-lighted kitchen where prepackaged burgers, pizza and sandwiches are heated in a microwave. A beer and burrito would set a person back only $4.

Next week, Maley and the other dislodged drinkers will have to find another bar, but they face a new downtown landscape of high-end mixology bars, restaurants and Brazilian waxing salons.

"I haven't the faintest idea where they'll go," says bar manager Bill Roller, 75, who has worked at the King Eddy for more than 30 years.

King Eddy opened in 1933 and has one of the oldest liquor licenses in the city. It was favored not only by Fante, but also by writers such as Charles Bukowski and James M. Cain for its lack of pretension and colorful clientele.

PHOTOS: Last Call at King Eddy Saloon

"The King Eddy Saloon is the last stand in a world that's completely lost to us — and that's skid row in the 1950s sense, a place where itinerant and semi-skilled laborers could find work seasonally," says downtown historian Richard Schave, who founded the Los Angeles Visionaries Assn., which staged the Fante event.

The bar has been owned by the same family for three generations. Dustin Croick took over in 2008 after his father, Rob, was badly injured in a car accident on his way home from the bar one night. Rob Croick, who has since died, managed the King Eddy for his father, Babe, who bought the bar in the 1960s with money he earned running downtown parking lots.

"This place has been a dive bar since I've been coming here as a kid with my dad, ordering milk and sitting on that stool," says Dustin Croick, 27.

In recent years, Croick has been trying to attract a more mainstream clientele. He started a website that played up the bar's hard-luck roots and featured a catchphrase he coined: "Where nobody gives a … about your name." He tried to lure the producers of the television show "Bar Rescue" to shoot a segment there, but the building's previous owners would not allow the filming.

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Home invasion victim gets help over Xbox headset

NORTH APOLLO, Pa. (AP) — Police say a Pennsylvania man used his Xbox headphones to call for help after being bound with duct tape and menaced with a gun during a home invasion.

Investigators say the 22-year-old suburban Pittsburgh man was playing video games in an upstairs bedroom when he heard his front door open. The man initially thought it was a family member but saw an armed man wearing a ski mask when he looked downstairs.

Authorities say the intruder bound Derick Shaffer and led him around the North Apollo home to locate valuables, then fled in Shaffer’s car. Shaffer reached a friend over his Xbox Live headset and had him call police.

The missing car was located about an hour later. Police questioned three people but are still trying to identify a suspect.

Gaming News Headlines – Yahoo! News

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Shawn Levy’s 21 Laps signs new first look deal with Fox

NEW YORK (TheWrap.com) – Fox has signed a new three-year first look deal with director/producer Shawn Levy‘s 21 Laps, the production company behind “Night at the Museum” and “The Watch,” the companies announced on Wednesday.

21 Laps is already based at Fox, having supplied the studio with several comedy titles over the past few years. While its most recent, “The Watch,” disappointed at the box office, the company has otherwise provided a steady supply of hits.

The original “Night at the Museum leads the pack with $ 570 million at the global box office, while the sequel surpassed $ 400 million.

“Shawn’s boundless energy, ambition and effortless creativity make him the perfect partner,” Emma Watts, Fox’s president of production, said in a statement. “We are lucky he continues to call Fox his home.”

21 Laps has a couple of projects due for release in 2013 – “The Internship,” starring Vince Vaughn and Owen Wilson, and “The Spectacular Now,” starring Miles Teller and Shailene Woodley.

Levy directed “The Internship,” his first job since “Real Steel,” which Disney released. That film debuts June 7.

21 Laps also has several projects in development, including a third installment of “Night at the Museum” and “Project Aloha,” which Levy plans to direct from a script by Nick Stoller. It is also at work on projects beyond Fox, such as “Story of Your Life,” a sci-fi thriller that Nic Mathieu will direct.

In signing a new deal with Fox, 21 Laps also announced a series of promotions. Billy Rosenberg moves up to the Senior Vice President level from Vice President while Dan Cohen rejoins the company from Mandeville as VP.

TV News Headlines – Yahoo! News

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Life Expectancy Rises Around World, Study Finds

A sharp decline in deaths from malnutrition and infectious diseases like measles and tuberculosis has caused a shift in global mortality patterns over the past 20 years, according to a report published on Thursday, with far more of the world’s population now living into old age and dying from diseases mostly associated with rich countries, like cancer and heart disease.

Tony Karumba/Agence France-Presse — Getty Images

Children in Nairobi, Kenya. Sub-Saharan Africa lagged in mortality gains, compared with Latin America, Asia and North Africa.

The shift reflects improvements in sanitation, medical services and access to food throughout the developing world, as well as the success of broad public health efforts like vaccine programs. The results are striking: infant mortality declined by more than half from 1990 to 2010, and malnutrition, the No. 1 risk factor for death and years of life lost in 1990, has fallen to No. 8.

At the same time, chronic diseases like cancer now account for about two out of every three deaths worldwide, up from just over half in 1990. Eight million people died of cancer in 2010, 38 percent more than in 1990. Diabetes claimed 1.3 million lives in 2010, double the number in 1990.

“The growth of these rich-country diseases, like heart disease, stroke, cancer and diabetes, is in a strange way good news,” said Ezekiel Emanuel, chairman of the department of medical ethics and health policy at the University of Pennsylvania. “It shows that many parts of the globe have largely overcome infectious and communicable diseases as a pervasive threat, and that people on average are living longer.”

In 2010, 43 percent of deaths in the world occurred at age 70 and older, compared with 33 percent of deaths in 1990, the report said. And fewer child deaths have brought up the mean age of death, which in Brazil and Paraguay jumped to 63 in 2010, up from 30 in 1970, the report said. The measure, an average of all deaths in a given year, is different from life expectancy, and is lower when large numbers of children die.

But while developing countries made big strides the United States stagnated. American women registered the smallest gains in life expectancy of all high-income countries’ female populations between 1990 and 2010. American women gained just under two years of life, compared with women in Cyprus, who lived 2.3 years longer and Canadian women who gained 2.4 years. The slow increase caused American women to fall to 36th place in the report’s global ranking of life expectancy, down from 22nd in 1990. Life expectancy for American women was 80.5 in 2010, up from 78.6 in 1990.

“It’s alarming just how little progress there has been for women in the United States,” said Christopher Murray, director of the Institute for Health Metrics and Evaluation, a health research organization financed by the Bill and Melinda Gates Foundation at the University of Washington that coordinated the report. Rising rates of obesity among American women and the legacy of smoking, a habit women formed later than men, are among the factors contributing to the stagnation, he said. American men gained in life expectancy, to 75.9 years from 71.7 in 1990.

Health experts from more than 300 institutions contributed to the report, which provided estimates of disease and mortality for populations in more than 180 countries. It was published in The Lancet, a British medical journal.

The World Health Organization issued a statement on Thursday saying that some of the estimates in the report differed substantially from those done by United Nations agencies, though others were similar. All comprehensive estimates of global mortality rely heavily on statistical modeling because only 34 countries — representing about 15 percent of the world’s population — produce quality cause-of-death data.

Sub-Saharan Africa was an exception to the trend. Infectious diseases, childhood illnesses and maternity-related causes of death still account for about 70 percent of the region’s disease burden, a measure of years of life lost due to premature death and to time lived in less than full health. In contrast, they account for just one-third in South Asia, and less than a fifth in all other regions. Sub-Saharan Africa also lagged in mortality gains, with the average age of death rising by fewer than 10 years from 1970 to 2010, compared with a more than 25-year increase in Latin America, Asia and North Africa.

Globally, AIDS was an exception to the shift of deaths from infectious to noncommunicable diseases. The epidemic is believed to have peaked, but still results in 1.5 million deaths each year.

Over all, the change means people are living longer, but it also raises troubling questions. Behavior affects people’s risks of developing cancer, heart disease and diabetes, and public health experts say it is far harder to get people to change their ways than to administer a vaccine that protects children from an infectious disease like measles.

“Adult mortality is a much harder task for the public health systems in the world,” said Colin Mathers, a senior scientist at the World Health Organization.

Tobacco use is a rising threat, especially in developing countries, and is responsible for almost six million deaths a year globally. Illnesses like diabetes are also spreading fast.

Donald G. McNeil Jr. contributed reporting.

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DealBook: Best Buy Gives Founder More Time to Make a Bid

Best Buy plans to give its founder a reprieve from holiday shopping.

The electronics retailer said on Friday that it would give its founder, Richard Schulze, until Feb. 28 to make a takeover bid for the company. That will give Mr. Schulze and his private equity partners the chance to review holiday sales before making their bid.

Best Buy cautioned that its founder may not make a bid, and that it may turn down any offer that is made.

Shares of the retailer tumbled nearly 17 percent in morning trading on Friday, to $11.75, as investors appeared worried that the chances of a successful takeover were growing remote.

Mr. Schulze remains the single biggest shareholder, with a roughly 20 percent stake, but analysts and investors have questioned whether he can line up the requisite equity and debt financing.

He has reached tentative agreements to partner with a number of leveraged buyout firms — currently including Cerberus Capital Management, Leonard Green & Partners and TPG Capital — to aid him in his campaign, a person briefed on the matter said. But any offer is unlikely to come close to the $8.8 billion that he initially floated.

The announcement comes as shares in Best Buy have fallen steadily in recent months, down 33 percent over the last three months. Even with the holiday shopping season in full swing, the retailer is expected to struggle against online competitors like Amazon.com and bigger rivals like Wal-Mart Stores.

Analysts suspect that consumer will continue to use Best Buy stores as “showrooms” to play around with products, before buying them more cheaply elsewhere. That’s despite efforts by the company’s relatively new chief executive, Hubert Joly, to entice shoppers with redesigned stores and improved customer service.

The company said last month that its same-store sales fell yet again, as it reported a $10 million loss in its third quarter.

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Fed to tie interest rate to job gains

WASHINGTON — The Federal Reserve said it will continue aggressive measures to stimulate the economy and made a major policy shift to focus more directly on boosting the job market.

Fed policymakers said they would keep interest rates at historically low levels until unemployment drops below 6.5%.

It's likely to keep the Fed's short-term interest rates at historically low levels well into 2015.

The move marked the first time that Fed policymakers have tied themselves to an explicit unemployment goal. It appeared to end the long-running debate within the central bank over how aggressively to target the nation's lagging job market.

The jobless figure was 7.7% in November, and the Fed's new forecast doesn't see that dropping below 6.5% for about three years.

The decision was made easier by the slow pace of inflation, which remains below 2% on an annual basis. Critics of the Fed's policies have argued that efforts to stimulate the economy would lead to inflation, but so far, that has not happened, and Fed Chairman Ben S. Bernanke has argued that the risk is much smaller than the dangers posed by high unemployment.

"The conditions now prevailing in the job market represent an enormous waste of human and economic potential," Bernanke said Wednesday during a news conference after the central bank's last policy meeting of the year.

Under its new policy, the Fed would let its inflation outlook rise to 2.5% before taking action to curtail it — giving the nation's employers more time to create jobs.

The move to link interest rate policies directly to the jobless rate is meant to give the public and businesses greater confidence about how long interest rates will remain exceptionally low, and that by itself could act as a kind of stimulus to the economy.

The new push got a warm welcome from both economists and Wall Street.

Economist Bernard Baumohl at the Economic Outlook Group said the previous time frame for action was "self-defeating because it provided no incentive for employers to start spending any time soon to avoid higher interest rates. It just didn't create any sense of urgency to accelerate investments or increase the rate of hiring."

The Fed has kept its federal funds rate, which influences rates for credit cards, mortgages and business and other loans, near zero since December 2008. Unemployment has been near 8% or above since early 2009.

Bernanke and his colleagues also decided Wednesday to continue the controversial large-scale bond-buying programs in the new year. Specifically, the Fed will buy $40 billion of mortgage-backed securities and $45 billion of long-term Treasury bonds a month.

The purchases are intended to drive down long-term interest rates to spur spending, investment and lending, boosting economic activity as well as hiring.

The central bank launched the purchase of mortgage-backed securities in September to give a lift especially to the housing market, which Fed policymakers said Wednesday "has shown further signs of improvement." They said they would continue to buy bonds until the job market "improved substantially."

The Fed, which has a dual mandate to maximize employment and keep inflation in check, also forecast a somewhat stronger growth for next year.

Its policy statement Wednesday noted a slowing in U.S. business investment and "significant downside risks" in the global economy, but made no mention of the so-called fiscal cliff, the automatic federal budget cuts and tax hikes scheduled to take effect beginning Jan. 1.

In a 75-minute news conference, however, Bernanke said it was clearly evident that concerns about the fiscal impasse already had hurt the economy, weakening business investments and consumer confidence.

He said that whatever the Fed did, it was not enough to offset the full effects of a U.S. economy failing to resolve fiscal issues. But he was cautiously optimistic: "I actually believe that Congress will come up with a solution, and I certainly hope they will."

For years, the Fed didn't give any indication of its future interest-rate path and only in recent years signaled what it might do by using somewhat vague language. In June 2011, the Fed said that it would keep rates exceptionally low for an "extended period." In August 2011, policymakers said no change was likely until at least mid-2013. And that date has since been extended twice, to late 2014 and then mid-2015.

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Lidl Christmas dinner offer goes viral on Twitter

BRUSSELS (Reuters) – Discount retailer Lidl faces a 200,000-euro ($ 260,000) Christmas dinner bill after an offer of chicken vol-au-vents and ice cream cake for the poor went viral.

The supermarket launched a Twitter campaign in Belgium on Monday, saying it would hand out five four-course Christmas dinners to food banks for each tweet on a hash tag.

Lidl had expected to hand out about 1,000 of the 20-euro dinner packs, consisting of tomato soup, vol-au-vents with chips, an ice-cream cake and chocolates, a spokesman for the German-based company’s Belgium unit said on Wednesday.

But local newspapers wrote about the offer and people retweeted using the hash tag – #luxevooriedereen, Dutch for “luxury for everyone”.

By the end of the 24-hour campaign, 1,500 people had tweeted, meaning Lidl has to deliver 7,500 dinners. That sparked reports the supermarket had been caught out by its campaign.

To quash such talk, Lidl rounded up the number of dinners to 10,000, and branded the campaign a success.

Lidl said it had not yet decided whether to repeat the exercise next year.

“We’ve learnt quite a few lessons over the past 48 hours, to say the least,” the spokesman said.

($ 1 = 0.7693 euros)

(Reporting By Ben Deighton. Editing By Sebastian Moffett.)

Social Media News Headlines – Yahoo! News

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Britney Spears, Taylor Swift are top-earning women in music

NEW YORK (Reuters) – Pop star Britney Spears edged past Taylor Swift to claim the title of top-earning woman in music after bringing in an estimated $ 58 million from her album, endorsements and a perfume in the past year, Forbes said on Wednesday.

Country-pop singer Swift, 22, was a close second with an estimated $ 57 million paycheck thanks to her tour – which made more than $ 1 million each night – a contract with CoverGirl cosmetics, her own line of fragrances and her new album “Red.”

R&B star Rihanna, 24, earned an estimated $ 53 million to put her at No. 3, two places up from last year, followed by Lady Gaga, 26, who slipped from No. 1 in 2011 to fourth place with $ 52 million.

Katy Perry, 28, the only musician other than Michael Jackson to produce five No. 1 hit singles from one album, rounded out the top five with about $ 45 million in earnings.

“I think people love the comeback story – Britney never really finished her run as a superstar,” Steve Stoute, marketing expert and author of “The Tanning of America” told Forbes.

Spears, 31, who was No. 10 last year, earned most of her money from her latest album “Femme Fatale” and her tour, according to Forbes, which compiled the list with estimated earnings from May 2011 to May 2012.

In September, Spears became a judge on the reality TV singing show “The X Factor,” reportedly for $ 15 million.

Despite their huge incomes, only eight of the top women music earners were among the 25 best-paid musicians, which Forbes attributes in part to career breaks to have children.

Madonna made the list in ninth place with an estimated $ 30 million in earnings, which did not include profits from her latest tour because it was outside the time period considered for the ranking.

Forbes compiled the list after estimating pretax income based on record sales, touring information merchandise sales and interviews with concert promoters, lawyers and managers.

The full list can be found at http://www.forbes.com/sites/zackomalleygreenburg/2012/12/12/the-top-earning-women-in-music-2012/

(Reporting by Patricia Reaney; Editing by Nick Zieminski and Maureen Bavdek)

Music News Headlines – Yahoo! News

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Another Look at a Drink Ingredient, Brominated Vegetable Oil

James Edward Bates for The New York Times

Sarah Kavanagh, 15, of Hattiesburg, Miss., started an online petition asking PepsiCo to change Gatorade’s formula.

Sarah Kavanagh and her little brother were looking forward to the bottles of Gatorade they had put in the refrigerator after playing outdoors one hot, humid afternoon last month in Hattiesburg, Miss.

But before she took a sip, Sarah, a dedicated vegetarian, did what she often does and checked the label to make sure no animal products were in the drink. One ingredient, brominated vegetable oil, caught her eye.

“I knew it probably wasn’t from an animal because it had vegetable in the name, but I still wanted to know what it was, so I Googled it,” Ms. Kavanagh said. “A page popped up with a long list of possible side effects, including neurological disorders and altered thyroid hormones. I didn’t expect that.”

She threw the product away and started a petition on Change.org, a nonprofit Web site, that has almost 200,000 signatures. Ms. Kavanagh, 15, hopes her campaign will persuade PepsiCo, Gatorade’s maker, to consider changing the drink’s formulation.

Jeff Dahncke, a spokesman for PepsiCo, noted that brominated vegetable oil had been deemed safe for consumption by federal regulators. “As standard practice, we constantly evaluate our formulas and ingredients to ensure they comply with federal regulations and meet the high quality standards our consumers and athletes expect — from functionality to great taste,” he said in an e-mail.

In fact, about 10 percent of drinks sold in the United States contain brominated vegetable oil, including Mountain Dew, also made by PepsiCo; Powerade, Fanta Orange and Fresca from Coca-Cola; and Squirt and Sunkist Peach Soda, made by the Dr Pepper Snapple Group.

The ingredient is added often to citrus drinks to help keep the fruit flavoring evenly distributed; without it, the flavoring would separate.

Use of the substance in the United States has been debated for more than three decades, so Ms. Kavanagh’s campaign most likely is quixotic. But the European Union has long banned the substance from foods, requiring use of other ingredients. Japan recently moved to do the same.

“B.V.O. is banned other places in the world, so these companies already have a replacement for it,” Ms. Kavanagh said. “I don’t see why they don’t just make the switch.” To that, companies say the switch would be too costly.

The renewed debate, which has brought attention to the arcane world of additive regulation, comes as consumers show increasing interest in food ingredients and have new tools to learn about them. Walmart’s app, for instance, allows access to lists of ingredients in foods in its stores.

Brominated vegetable oil contains bromine, the element found in brominated flame retardants, used in things like upholstered furniture and children’s products. Research has found brominate flame retardants building up in the body and breast milk, and animal and some human studies have linked them to neurological impairment, reduced fertility, changes in thyroid hormones and puberty at an earlier age.

Limited studies of the effects of brominated vegetable oil in animals and in humans found buildups of bromine in fatty tissues. Rats that ingested large quantities of the substance in their diets developed heart lesions.

Its use in foods dates to the 1930s, well before Congress amended the Food, Drug and Cosmetic Act to add regulation of new food additives to the responsibilities of the Food and Drug Administration. But Congress exempted two groups of additives, those already sanctioned by the F.D.A. or the Department of Agriculture, or those experts deemed “generally recognized as safe.”

The second exemption created what Tom Neltner, director of the Pew Charitable Trusts’ food additives project, a three-year investigation into how food additives are regulated, calls “the loophole that swallowed the law.” A company can create a new additive, publish safety data about it on its Web site and pay a law firm or consulting firm to vet it to establish it as “generally recognized as safe” — without ever notifying the F.D.A., Mr. Neltner said.

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High Cost Leads Canada to Study Plans to Buy F-35s

Canada said Wednesday that it would reconsider plans to buy 65 F-35 fighter jets after an independent audit found that the sophisticated stealth planes would cost substantially more than the government had promised.

The decision was an unusual step back by Stephen Harper, the prime minister, who has been a strident defender of the purchase despite widespread public criticism of the price. Two cabinet ministers said an independent panel would review a variety of options, including a version of Boeing’s Super Hornet fighter as well as sticking with the F-35, made by Lockheed Martin.

“We have hit the reset button and are taking the time to do a complete assessment of all available aircraft,” Rona Ambrose, the public works minister, told reporters in Ottawa.

The announcement came after the auditor, KPMG, estimated that Canada would spend $45.8 billion to buy and operate the planes over 42 years, the expected life span.

When Peter MacKay, the defense minister, first announced Canada’s plan to buy the F-35 in 2010, he said the purchase price was $9 billion, but declined to provide operating cost estimates. The next year during an election campaign, the Conservatives put the total cost over 20 years at $16 billion.

If Canada were to back out of the project, it would be a blow to Lockheed and the Pentagon, which is counting on foreign sales to help reduce the cost of building each of the planes.

The F-35 was conceived as the Chevrolet of the sky, a radar-evading aircraft that could be built relatively cheaply and adapted to the needs of the Air Force, Navy and Marines.

But almost from the start, development of the planes and their sophisticated gear proved far more costly and difficult than anticipated.

The plane is now projected to be the most expensive weapons program in history, with the Pentagon spending $396 billion to buy 2,443 planes by the late 2030s. The United States is counting on 10 allies to buy at least 700 more.

To meet the Pentagon’s targets of $79 million to $106 million a plane, depending on the model, Lockheed needs to increase its economies of scale by spreading the costs across as many planes as possible. Canada’s hesitancy about the project could add to worries among the allies about the plane’s cost.

This year, economically troubled Italy cut its planned F-35 order by 30 percent. Britain and Australia have delayed decisions on how many F-35s to buy. And lawmakers in the Netherlands are also questioning the jet’s cost.

The Pentagon and Lockheed have stepped up their efforts to reassure those countries and persuaded two others, Israel and Japan, to sign on.

“You have to wonder when a slip becomes a slide with this program,” said Richard L. Aboulafia, an analyst with the Teal Group in Fairfax, Va. “This is not a simple question of a fighter from a new generation all by itself in the market. There is price pressure and there’s a growing cost-consciousness among all customers.”

Until recently, the ruling Conservative Party in Canada swiftly rejected any suggestion that the country not buy the F-35s. Two years ago, Mr. Harper said that critics of the acquisition were “playing politics with the lives of our men and women in uniform.”

But after the office of the Auditor General of Canada released a report in March indicating that the planes would cost much more than the $16 billion the government had indicated, Mr. Harper’s aides began edging away from the program and hired KPMG to produce the new cost estimates.

Ms. Ambrose and Mr. MacKay repeatedly used the word “reset” on Wednesday and avoided questions about what that step would mean in evaluating alternatives. The ministers and officials, however, did make it clear that no decision had been made to start a formal competition among aircraft manufacturers and acknowledged that it remained possible that Canada would stick with the F-35.

The review, Mr. MacKay said, would “ensure that a balance is maintained between the military needs and taxpayer interests.”

Canada’s concerns about the costs of the F-35s come as American officials worry that the F-35’s huge price tag could make it a target for budget cutters in Washington as well. The Pentagon has already slowed the program to fix technical problems and reduce the immediate costs.

Pentagon and Lockheed officials sought on Wednesday to play down the developments in Canada.

Lt. Col. Melinda F. Morgan, a Pentagon spokeswoman, said the KPMG cost estimate for Canada was in line with the Pentagon’s current projections for the cost of the planes.

She said that Canada’s decision to review its options seemed similar to a high-level review the Pentagon conducted in 2010 when problems were mounting with the planes. Top Pentagon officials determined then that they had no alternative that could provide the same capability.

Lockheed issued a statement noting it had worked with Canada’s armed forces for 50 years and looked forward to continuing the relationship.

The KPMG study said that if Canada wanted to stick to the original $9 billion price, it would be able to buy only 55 planes.

Possible alternatives to the F-35 include an updated version of Boeing’s F/A-18 Hornet, called the Super Hornet, and several European models. The Royal Canadian Air Force currently flies CF-18s, a version of the Hornet. While some of Canada’s jets date back about 30 years, Mr. MacKay said Wednesday that the fleet could be kept operational for at least another decade.

In the past, Mr. MacKay and others have emphasized the need for Canada’s next generation of fighters to include the radar-evading stealth technology found on the F-35. But several military analysts in Canada have noted that the country’s air force had not been actively involved in first strikes, where stealth would be most crucial. Others have questioned using the single-engine F-35 for patrols in remote Arctic regions, a primary mission for Canada’s military.

Separately on Wednesday, the government also reduced its estimate of business that Canadian companies were likely to win from F-35 contracts to $9.8 billion from $12 billion.

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States pressed to guarantee Medicaid expansion

WASHINGTON — The Obama administration stepped up pressure on states Monday to guarantee insurance for all their low-income residents in 2014 under the new healthcare law, warning governors that the federal government would not pick up the total cost of partially expanding coverage.

"We continue to encourage all states to fully expand their Medicaid programs and take advantage of the generous federal matching funds to cover more of their residents," Health and Human Services Secretary Kathleen Sebelius wrote in a letter to governors.

But Sebelius indicated that governors who do not open their Medicaid programs to all eligible low-income residents would forfeit some of the federal aid promised by the Affordable Care Act.

"The law does not provide for a phased-in or partial expansion," the Department of Health and Human Services said in guidance accompanying Sebelius' letter.

Medicaid has become a major issue in the implementation of the law since the U.S. Supreme Court ruled in June that states can decide whether to expand their Medicaid programs in 2014.

The law originally required the states to open Medicaid to all Americans who earn less than 138% of the federal poverty level, a major change for a program that now largely covers poor children and mothers.

To ease the expansion, the law initially provides full federal funding to cover the new population. Currently, Medicaid costs are split between state and federal governments.

Nonetheless, several Republican governors have said they won't expand Medicaid, citing cost concerns. That prompted speculation that some states might partially expand Medicaid programs. But Obama administration officials said Monday the law did not authorize full federal funding for a more limited expansion.

A state that opens Medicaid to only some new low-income residents would qualify for reduced federal aid, requiring the state to come up with the remainder of the funding.

How the guidance will affect state decisions remains unclear.

Alan Weil, president of the National Academy for State Health Policy, said state leaders probably would not make final decisions until they worked out 2014 budgets next year. "A lot of what we have seen so far is posturing," he said.

But the administration's announcement drew quick criticism from the Republican Governors Assn.

"The Obama administration's refusal to grant states more flexibility on Medicaid is as disheartening as it is short-sighted," said Louisiana Gov. Bobby Jindal, the group's chairman. Jindal has said he will not expand Medicaid in his state.

In contrast, the administration's move was applauded by the National Assn. of Public Hospitals and Health Systems, whose members care for millions of the nation's uninsured, often without compensation. Dr. Bruce Siegel, the association president, said it "takes an important step toward significantly reducing the ranks of the uninsured."

The Obama administration is facing additional resistance from several Republican governors who have said they won't set up insurance exchanges — a cornerstone of the law that will allow Americans who don't get health benefits at work to shop for insurance plans that meet new minimum standards. The federal government can set up exchanges for states that refuse to do so.

Also Monday, Colorado, Connecticut, Massachusetts, Maryland, Oregon and Washington got conditional federal approval to operate their own exchanges. The six were the first to apply, and administration officials said approval for other states, including California, would probably follow.

noam.levey@latimes.com

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World Chefs: Keller shares memories, spotlight in latest book

NEW YORK (Reuters) – Thomas Keller, one of America‘s most respected chefs, shares the food memories of his childhood and his time in France in his new book “Bouchon Bakery,” which is also the name of his chain of pastry shops in the United States.

Keller is the only American chef who owns two three-Michelin-star restaurants – Per Se in New York City and The French Laundry in the Napa Valley wine region in California.

Earlier this year, Britain’s Restaurant Magazine named Per Se, which opened in 2004, the world’s sixth best restaurant. Keller also earned the magazine’s lifetime achievement award.

Like his four other books, his latest effort is a collaboration. He co-wrote it with his top pastry chefs Sebastien Rouxel and Matthew McDonald along with food writers Susie Heller, Michael Ruhlman and Amy Vogler.

The 57-year-old spoke to Reuters about the book, his pastry chefs and his place in the culinary world.

Q: Why did you collaborate with the leaders of your pastry team with this book?

A: “If you look at my other cookbooks, it’s always been a point with me to share these opportunities with those who share their skills and expertise with the general public. That was the reason why I did the book. Sebastien is one of the best pastry chefs in America. His techniques are unparalleled. I’m not trying to pretend that I’m a pastry chef by writing a book about baking and pastries. Nor am I trying to be a bread baker. I have Matthew McDonald, who is one of the best bakers in America. To be able to highlight his skills in the bread section was very important as well.”

Q: How did your time in France change your view about pastry and bread-making?

A: “When you are in France, especially in Paris, there were three or four boulangeries of different significance just on the block where I lived because they had pastry chefs with different levels of skills. You went to different ones for different things. To have a fresh baked baguette everyday was extraordinary. Anyone who lived in Paris for any length of time would say eating a fresh baguette is pretty special. Bread plays a real important part in the experience of the diners. To make sure we have the opportunity to significantly impact the experience by controlling the production and style of the bread was very important to me.”

Q: Do you have a favorite dessert?

A: “It depends on the day … There are so many things I love. I think anything that’s done really, really well. For me, that’s really something I really appreciate. I think one of the things that really resonate with the individual is that idea that eating, and eating through that experience, they have a memory. We are always trying to do something that’s good. Why put something on the menu that’s not very good?”

Q: The book emphasizes weighing ingredients over measuring with cups and spoons. Could that be difficult for home cooks?

A: “One of the things about pastry … it’s such an exact process. The most exact thing you practice is with weighing. There is an exactness to the execution, which gives you every opportunity to be successful.”

Q: French Laundry and Per Se are among two of the best restaurants in the country. Bouchon Bakery is a success. What more would you like to accomplish in the culinary world?

A: “I have accomplished today everything I wanted to accomplish, more than I ever dreamed was possible. Right now, I’m just focused on the restaurants we have and the book I just wrote. Let me enjoy this moment before you ask me what I’ll be doing tomorrow.”

Pecan Sandies for my mom (Makes 1-1/2 dozen cookies)

1 ¾ cups + 1 ½ teaspoons all-purpose flour (250 grams)

¾ cup coarsely chopped pecans (80 grams)

4 ounces unsalted butter, at room temperature (170 grams)

¾ cup + 1 ¾ teaspoons powdered sugar (90 grams)

Additional powdered sugar for dusting (optional)

1. Position the racks in the upper and lower thirds of the oven and preheat the oven to 325°F (convection) or 350°F (standard). Line two sheet pans with Silpats or parchment paper.

2. Toss the flour and pecans together in a medium bowl.

3. Place the butter in the bowl of a stand mixer fitted with the paddle attachment and mix on medium-low speed until smooth. Add the 90 grams/¾ cup plus 1¾ teaspoons powdered sugar and mix for about 2 minutes, until fluffy. Scrape down the sides and bottom of the bowl. Add the flour mixture and mix on low speed for about 30 seconds, until just combined. Scrape the bottom of the bowl to incorporate any dry ingredients that have settled there.

4. Divide the dough into 30-gram/1½-tablespoon portions, roll into balls, and arrange on the sheet pans, leaving about 1½ inches between them. Press the cookies into 2-inch disks.

5. Bake until pale golden brown, 15 to 18 minutes if using a convection oven, 22 to 25 minutes if using a standard oven, reversing the positions of the pans halfway through. (Sandies baked in a convection oven will not spread as much as those baked in a standard oven and will have a more even color.)

6. Set the pans on a cooling rack and cool for 5 to 10 minutes. Using a metal spatula, transfer the cookies to the rack to cool completely. If desired, dust with powdered sugar.

Note: The cookies can be stored in a covered container for up to 3 days.

(Reporting by Richard Leong; Editing by Patricia Reaney and James Dalgleish)

Celebrity News Headlines – Yahoo! News

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Concussion Liability Issues Could Stretch Beyond N.F.L.

Paul Kitagaki Jr./The Sacramento Bee, via Associated Press

Insurers could raise premiums with a higher risk of lawsuits for concussions, like the one 49ers quarterback Alex Smith sustained a month ago.

As the N.F.L. confronts a raft of lawsuits brought by thousands of former players who accuse the league of hiding information about the dangers of concussions, a less visible battle that may have a more widespread effect in the sport is unfolding between the league and 32 of its current and former insurers.

The dispute revolves around how much money, if any, the insurers are obliged to pay for the league’s mounting legal bills and the hundreds of millions of dollars in potential damages that might stem from the cases brought by the retired players.

Regardless of how it is resolved, the dispute could hurt teams, leagues and schools at all levels if insurers raise premiums to compensate for the increased risk of lawsuits from the families of people who play hockey, lacrosse and other contact sports.

The N.F.L., which generates about $9 billion a year, may be equipped to handle these legal challenges. But colleges, high schools and club teams may be forced to consider severe measures in the face of liability issues, like raising fees to offset higher premiums; capping potential damages; and requiring players to sign away their right to sue coaches and schools. Some schools and leagues may even shut down teams because the expense and legal risk are too high.

“Insurers will be tightening up their own coverage and make sports more expensive,” said Robert Boland, who teaches sports law at New York University. “It could make the sustainability of certain sports a real issue.”

The N.F.L. contends that the insurers, some of whom wrote policies in the 1960s, have a duty to defend the league, which has paid them millions of dollars in premiums. The question for the N.F.L. is not whether the insurers are required to help the league, but rather what percent of the league’s expenses each insurer is obliged to cover.

The 32 insurance companies have varying arguments against the league. Some wrote policies for a limited number of years and contend their obligations should also be limited. Others contend they wrote policies for the N.F.L.’s marketing arm — for licensing disputes, for example — not the league itself.

A few of the companies went bankrupt or merged with rivals. Some insurers wrote primary policies that covered up to the first $1 million of claims; the rest insured obligations in excess of that amount.

Creating a formula for how to apportion liability will in some cases depend on the broader case between the league and its players now in federal court in Pennsylvania. If the N.F.L. persuades the judge to dismiss the case, the league will be left trying to recoup its legal costs from the insurers. If the judge allows the players’ case to proceed, the definitions of when, how and whether a player’s concussions led to his illness will become critical in shaping the insurers’ exposure, and could take years to sort out.

“This is baby step 1 in the process for everyone figuring how deep in the soup they are,” said Christopher Fusco, a lawyer who has worked on similar insurance cases but is not involved in the N.F.L. litigation. “Baby step 2 will be to figure out the facts.”

Fusco and other lawyers said the facts would largely come from the underlying suit between the league and the more than 3,000 retired players, including determining when the players sustained the head trauma and their injuries. This will probably be a long process because many of the retired players in the underlying suit, some of whom are now having memory loss, played decades ago, when concussions were often undiagnosed or not recorded.

Many of the insurance companies named in the suits declined to comment, citing the continuing litigation. The N.F.L. also did not comment.

The two-tiered battle between the league and its former players and insurers echoes the litigation stemming from asbestos claims because both cases center on long-tail claims, or injuries that could take years to manifest themselves.

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Daily Stock Market Activity

Wall Street traded sharply higher Tuesday after unexpectedly cheery data out of Europe and as the Federal Reserve was set to begin its two-day policy meeting.

The Standard & Poor’s 500-stock index added 1 percent in morning trading, while the Dow Jones industrial average rose 0.9 percent and the Nasdaq composite index was up 1.5 percent.

The stock market has entered a traditionally quiet period heading into the end of the year, with thinner trading volumes and fewer large fluctuations likely.

Though the pace of talks quickened in Washington to avert impending tax increases and spending cuts, senior politicians on both sides cautioned that an agreement on all the outstanding issues remained uncertain.

The lack of progress in negotiations about the “fiscal cliff” has kept investors from making aggressive bets in recent weeks, though most expect a deal will eventually be reached.

In Germany, analyst and investor sentiment rose sharply in December, entering positive territory for the first time since May, a leading survey showed. The data helped drive European shares higher. The DAX in Frankfurt was up 0.6 percent in afternoon trading, while the FTSE 100 in London gained 0.2 percent.

“We’ve been getting a lot of the beginning of our day from seeing what Europe has been doing, and I think that’s going to hold true today,” said Kim Caughey Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

The Fed began its two-day Federal Open Market Committee meeting on Tuesday. The central bank was expected to announce a new round of Treasury securities purchases on Wednesday, according to a Reuters survey of analysts. The program would replace its so-called Operation Twist stimulus effort, which expires at the end of the year.

The Treasury Department sold its remaining stake in the American International Group, bringing an end to a government ownership role about four years after a $182 billion bailout. A.I.G.'s shares were up 4 percent in morning trading.

Two firms raised their price targets for Urban Outfitters, sending the retailer’s shares up 6 percent.

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Latin music star Jenni Rivera believed dead in plane crash

Fans of Mexican-American singing star Jenni Rivera held a vigil Sunday night in Lynwood

MEXICO CITY — Mexican American singer Jenni Rivera, the "diva de la banda" whose commanding voice burst through the limits of regional Latin music and made her a cross-border sensation and the queen of a business empire, was believed to have died Sunday when the small jet carrying her and members of her entourage crashed in mountainous terrain.

Rivera, a native of Long Beach, was 43. Mexico's ministry of transportation did not confirm her death outright, but it said that she had been aboard the plane and that no one had survived the crash. Six others, including two pilots, also were on board.

"Everything suggests, with the evidence that's been found, that it was the airplane that the singer Jenni Rivera was traveling in," said Gerardo Ruiz Esparza, Mexico's secretary of communications and transportation. Of the crash site, Ruiz said: "Everything is destroyed. Nothing is recognizable."

Word of the accident ricocheted around the entertainment industry, with performer after performer expressing shock and grief. Fans gathered outside Rivera's four-acre estate in Encino.

"She was the Diana Ross of Mexican music," said Gustavo Lopez, an executive vice president at Universal Music Latin Entertainment, an umbrella group that includes Rivera's label. Lopez called Rivera "larger than life" and said that based on ticket sales, she was by far the top-grossing female artist in Mexico.

"Remember her with your heart the way she was," her father, Don Pedro Rivera, told reporters in Spanish on Sunday evening. "She never looked back. She was a beautiful person with the whole world."

Rivera had performed a concert in Monterrey, Mexico, on Saturday night — her standard fare of knee-buckling power ballads, pop-infused interpretations of traditional banda music and dizzying rhinestone costume changes.

At a news conference after the show, Rivera appeared happy and tranquil, pausing at one point to take a call on her cellphone that turned out to be a wrong number. She fielded questions about struggles in her personal life, including her recent separation from husband Esteban Loaiza, a professional baseball player.

"I can't focus on the negative," she said in Spanish. "Because that will defeat you. That will destroy you.... The number of times I have fallen down is the number of times I have gotten up."

Hours later, shortly after 3 a.m., Rivera is believed to have boarded a Learjet 25, which took off under clear skies. The jet headed south, toward Toluca, west of Mexico City; there, Rivera had been scheduled to tape the television show "La Voz" — Mexico's version of "The Voice" — on which she was a judge.

The plane, built in 1969 and registered to a Las Vegas talent management firm, reached 11,000 feet. But 10 minutes and 62 miles into the flight, air traffic controllers lost contact with its pilots, according to Mexican authorities. The jet crashed outside Iturbide, a remote city that straddles one of the few roads bisecting Mexico's Sierra de Arteaga national park.

Wreckage was scattered across several football fields' worth of terrain. An investigation into the cause of the crash was underway, and attempts to identify the remains of the victims had begun.

Rivera, a mother of five and grandmother of two, was believed to have been traveling with her publicist Arturo Rivera, who was not related to her, as well as with her lawyer, hairstylist and makeup artist; reports of their names were not consistent. Their identities were not confirmed by authorities. The pilots were identified as Miguel Perez and Alejandro Torres.

In the world of regional Latin music — norteño, cumbia and ranchera are among the popular niches — Rivera was practically royalty.

Her father was a noted singer of the Mexican storytelling ballads known as corridos. In the 1980s he launched the record label Cintas Acuario. It began as a swap-meet booth and grew into an influential and taste-making independent outfit, fueling the careers of artists such as the late Chalino Sanchez. Jenni Rivera's four brothers were associated with the music industry; her brother Lupillo, in particular, is a huge star in his own right.

Born on July 2, 1969, Rivera initially showed little inclination to join the family business. She worked for a time in real estate. But after a pregnancy and a divorce, she went to work for her father's record label and found her voice, literally and figuratively.

She released her first studio album in 2003, when she was 34.

Her path had not been easy, but rather than running from it, she wrote it into her music — domestic violence; struggles with weight; raising her children alone, or "sin capitan," without a captain. She was known for marathon live shows that left audiences exhilarated and exhausted; by the fifth hour of one recent performance, she was drinking straight from a tequila bottle and launching into a cover of "I Will Survive."

In a witty and sometimes baffling stew of Spanish and English, she sang about her three husbands, about drug traffickers, in tribute to her father, in tribute to her gynecologist.

She became, in a most unlikely way, a feminist hero among Latin women in Mexico and the United States and a powerful player in a genre of music dominated by men and machismo. Regional Mexican music styles had long been seen as limiting to artists, but Rivera shrugged off the labels and brought traditional-laced music — some of which sounded perilously close to polka — to a massive pop audience.

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Springsteen, Lady Gaga join Stones concert in NJ

NEW YORK (AP) — Bruce Springsteen, Lady Gaga and The Black Keys will join the Rolling Stones on Saturday for the final concert marking the band’s 50th anniversary.

The concert will be held at the Prudential Center in Newark, N.J.

The band said Monday the concert will be telecast live on pay-per-view.

The Stones have played in London and New York on their “50 and Counting” tour. They will also play in Newark on Thursday.

The Stones will perform Wednesday at the “12-12-12″ concert at Madison Square Garden in New York City to raise money for victims of Superstorm Sandy.

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Online:

http://www.rollingstones.com/

Entertainment News Headlines – Yahoo! News

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A Breakthrough Against Leukemia Using Altered T-Cells

PHILIPSBURG, Pa. — Emma Whitehead has been bounding around the house lately, practicing somersaults and rugby-style tumbles that make her parents wince.

It is hard to believe, but last spring Emma, then 6, was near death from leukemia. She had relapsed twice after chemotherapy, and doctors had run out of options.

Desperate to save her, her parents sought an experimental treatment at the Children’s Hospital of Philadelphia, one that had never before been tried in a child, or in anyone with the type of leukemia Emma had. The experiment, in April, used a disabled form of the virus that causes AIDS to reprogram Emma’s immune system genetically to kill cancer cells.

The treatment very nearly killed her. But she emerged from it cancer-free, and about seven months later is still in complete remission. She is the first child and one of the first humans ever in whom new techniques have achieved a long-sought goal — giving a patient’s own immune system the lasting ability to fight cancer.

Emma had been ill with acute lymphoblastic leukemia since 2010, when she was 5, said her parents, Kari and Tom. She is their only child.

She is among just a dozen patients with advanced leukemia to have received the experimental treatment, which was developed at the University of Pennsylvania. Similar approaches are also being tried at other centers, including the National Cancer Institute and Memorial Sloan-Kettering Cancer Center in New York.

“Our goal is to have a cure, but we can’t say that word,” said Dr. Carl June, who leads the research team at the University of Pennsylvania. He hopes the new treatment will eventually replace bone-marrow transplantation, an even more arduous, risky and expensive procedure that is now the last hope when other treatments fail in leukemia and related diseases.

Three adults with chronic leukemia treated at the University of Pennsylvania have also had complete remissions, with no signs of disease; two of them have been well for more than two years, said Dr. David Porter. Four adults improved but did not have full remissions, and one was treated too recently to evaluate. A child improved and then relapsed. In two adults, the treatment did not work at all. The Pennsylvania researchers were presenting their results on Sunday and Monday in Atlanta at a meeting of the American Society of Hematology.

Despite the mixed results, cancer experts not involved with the research say it has tremendous promise, because even in this early phase of testing it has worked in seemingly hopeless cases. “I think this is a major breakthrough,” said Dr. Ivan Borrello, a cancer expert and associate professor of medicine at the Johns Hopkins University School of Medicine.

Dr. John Wagner, the director of pediatric blood and marrow transplantation at the University of Minnesota, called the Pennsylvania results “phenomenal” and said they were “what we’ve all been working and hoping for but not seeing to this extent.”

A major drug company, Novartis, is betting on the Pennsylvania team and has committed $20 million to building a research center on the university’s campus to bring the treatment to market.

Hervé Hoppenot, the president of Novartis Oncology, called the research “fantastic” and said it had the potential — if the early results held up — to revolutionize the treatment of leukemia and related blood cancers. Researchers say the same approach, reprogramming the patient’s immune system, may also eventually be used against tumors like breast and prostate cancer.

To perform the treatment, doctors remove millions of the patient’s T-cells — a type of white blood cell — and insert new genes that enable the T-cells to kill cancer cells. The technique employs a disabled form of H.I.V. because it is very good at carrying genetic material into T-cells. The new genes program the T-cells to attack B-cells, a normal part of the immune system that turn malignant in leukemia.

The altered T-cells — called chimeric antigen receptor cells — are then dripped back into the patient’s veins, and if all goes well they multiply and start destroying the cancer.

The T-cells home in on a protein called CD-19 that is found on the surface of most B-cells, whether they are healthy or malignant.

A sign that the treatment is working is that the patient becomes terribly ill, with raging fevers and chills — a reaction that oncologists call “shake and bake,” Dr. June said. Its medical name is cytokine-release syndrome, or cytokine storm, referring to the natural chemicals that pour out of cells in the immune system as they are being activated, causing fevers and other symptoms. The storm can also flood the lungs and cause perilous drops in blood pressure — effects that nearly killed Emma.

Steroids sometimes ease the reaction, but they did not help Emma. Her temperature hit 105. She wound up on a ventilator, unconscious and swollen almost beyond recognition, surrounded by friends and family who had come to say goodbye.

But at the 11th hour, a battery of blood tests gave the researchers a clue as to what might help save Emma: her level of one of the cytokines, interleukin-6 or IL-6, had shot up a thousandfold. Doctors had never seen such a spike before and thought it might be what was making her so sick.

Dr. June knew that a drug could lower IL-6 — his daughter takes it for rheumatoid arthritis. It had never been used for a crisis like Emma’s, but there was little to lose. Her oncologist, Dr. Stephan A. Grupp, ordered the drug. The response, he said, was “amazing.”

Within hours, Emma began to stabilize. She woke up a week later, on May 2, the day she turned 7; the intensive-care staff sang “Happy Birthday.”

Since then, the research team has used the same drug, tocilizumab, in several other patients.

In patients with lasting remissions after the treatment, the altered T-cells persist in the bloodstream, though in smaller numbers than when they were fighting the disease. Some patients have had the cells for years.

Dr. Michel Sadelain, who conducts similar studies at the Sloan-Kettering Institute, said: “These T-cells are living drugs. With a pill, you take it, it’s eliminated from your body and you have to take it again.” But T-cells, he said, “could potentially be given only once, maybe only once or twice or three times.”

The Pennsylvania researchers said they were surprised to find any big drug company interested in their work, because a new batch of T-cells must be created for each patient — a far cry from the familiar commercial strategy of developing products like Viagra or cholesterol medicines, in which millions of people take the same drug.

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