Wall Street dips on renewed euro zone concerns

NEW YORK (Reuters) - Shares fell on Thursday after the euro currency dropped against the safe-haven dollar and yen, raising worries about Europe's outlook and curbing investors' appetite for risky assets such as stocks.

The euro sank after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability, which investors took as a sign the bank is concerned about the euro's advance in recent days.

U.S. stocks have been in an uninterrupted uptrend for most of the year, with the S&P 500 gaining more than 5 percent for 2013.

"The market is a bit shaky on the back of some of the Draghi comments" amid worry the strength of the euro might hamper economic recovery, said Andre Bakhos, director of market analytics at LEK Securities in New York.

"Whether this ignites renewed concerns about the euro debt struggles and Europe in general is yet to be seen, but the market is looking for any reason to take a profit. It is just consolidating near multi-year highs, taking a respite before we advance higher."

The Dow Jones industrial average <.dji> was down 92.05 points, or 0.66 percent, at 13,894.47. The Standard & Poor's 500 Index <.spx> was down 7.93 points, or 0.52 percent, at 1,504.19. The Nasdaq Composite Index <.ixic> was down 14.95 points, or 0.47 percent, at 3,153.52.

Housing and retail stocks were the day's biggest decliners. The housing sector index <.hgx> was off 1 percent and the S&P housing index <.spxrt> was off 0.5 percent.

Top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.

Macy's Inc rose 1.3 percent to $40.01 after reporting January same store sales rose 11.7 percent.

But Ann Inc dropped 6.6 percent to $30.63 after forecasting fourth-quarter sales below analysts' expectations.

Fund manager David Einhorn's Greenlight Capital on Thursday said it has sued Apple Inc and said the company needs to do more to unlock value for shareholders. Apple shares gained 1.2 percent at $460.16.

Akamai Technologies Inc lost 15.6 percent to $35.06 as the worst performer on the S&P 500 after the Internet content delivery company forecast current-quarter revenue below analysts' expectations.

Initial jobless claims dipped last week, with the four-week moving average falling to its lowest level since March 2008, signaling the economy continues to recover slowly.

A separate report said fourth-quarter productivity registered its biggest drop in nearly two years, while unit labor costs jumped 4.5 percent, more than economists expected.

According to Thomson Reuters data through Thursday morning, of 317 companies in the S&P 500 that have reported earnings, 69 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies rose 5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

(Additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)

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IHT Rendezvous: Stark Numbers Reveal the Scale of Elephant Killings

HONG KONG — The past couple of years has seen a stream of news about elephant killings and increasingly massive ivory seizures, a stream so relentless that it has become numbing.

A study released on Wednesday, however, still has the power to shock. Over the past eight years or so, according to the study, 11,000 elephants have been killed by poachers in the western African state of Gabon, where the Minkébé National Park once held the continent’s largest forest elephant population. Two-thirds of the park’s elephant population has been wiped out since 2004.

“The situation is out of control. We are witnessing the systematic slaughter of the world’s largest land mammal,” said Bas Huijbregts, head of the Central African strand of WWF’s global campaign against illegal wildlife trade, Wildlife Conservation Society, which conducted the study with the WWF and the Gabonese National Parks Agency, said the data represented trends across all remaining forest elephant strongholds in the region, and pointed to a “regional crisis.”

The Democratic Republic of the Congo, in central Africa, is believed to have between 7,000 and 10,000 elephants — less than 10 percent of its population 20 years ago.

In the Central African Republic, which had as many as 80,000 elephants in the mid-1980s, the numbers are now down to just a few thousand as poachers are taking advantage of the political instability in the country to hunt the creatures.

And last year, hundreds of elephants were killed for their tusks in Cameroon, another western African nation.

Moreover, the Gabon slaughter has taken place in a country that had been thought to be less badly hit by poaching than other parts of Africa.

As my colleague Jeffrey Gettleman reported last year, Gabon’s government, blessed with billions of dollars of oil money, has made many of the right moves to protect its animals, setting aside chunks of land for national parks, and even lighting a pyramid of 10,000 pounds of ivory on fire to make the point that the trade was reprehensible.

As I wrote last year, demand for ivory from China is the leading driver behind the illegal trade, compounded by improved transport, trade links and a rise in the presence of Chinese nationals in Africa. And although the Chinese authorities are helping with awareness campaigns, what is really needed is on-the-ground enforcement, to help trace and combat the activities of Chinese middlemen in the illicit trade, experts have said.

For the crisis to be comprehensively addressed, Mr. Huijbregts of the WWF commented Wednesday, “the international intelligence community needs to get involved in this fight as soon as possible, in order to identify, track and put out of business these global criminal networks, which corrupt governments, erode national security and hamper economic development prospects.”

Unless the governments of the region and demand countries treat this issue as an international emergency, he said, “we cannot rule out that, in our lifetime, there will no longer be any viable elephant populations in Central Africa.”

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Nova Scotia gives BlackBerry $10 million over five years to keep jobs

HALIFAX – The Nova Scotia government is giving tech giant BlackBerry (TSX:BB) $ 10 million over five years to help the company keep at least 400 jobs in the province.

Nova Scotia Premier Darrell Dexter says in return, BlackBerry has committed to spend $ 4 million a year on a facility that would purchase new equipment and conduct research and development.

Last summer, the company laid off about 95 people from its Halifax-area operations following its announcement that it would be reducing its global workforce by 5,000.

Neither Dexter nor company officials would confirm how many people currently work at the Halifax office.

A company official says the government approached BlackBerry asking what it could do to help it stay in Nova Scotia after the last round of layoffs.

The funding comes two days after the launch of the new BlackBerry Z10 smartphone in Canada.

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Bethenny Frankel Anxious Over Dog Cookie's Limp

People Pets

02/06/2013 at 01:00 PM EST

Bethenny Frankel and Cookie

Adam Nemser/Startraks

All's not well at home for Bethenny Frankel, who, after splitting with husband Jason Hoppy, is now dealing with her beloved dog Cookie's ailing health.

"My first baby [Cookie] is limping," the star shared with her Twitter followers Wednesday. "She's 12 & it makes me sad & gives me anxiety."

Often seen on Bethenny Ever After, Cookie has been by Frankel's side for most of her reality TV career, but her most recent health woe is the latest in a series of complications for the canine.

In April 2012, Cookie was admitted to the hospital after Frankel shared she was vomiting repeatedly. Following a brief stay, she was released with a catheter and a cone, and the Bravo star revealed Cookie was battling an infection.

Two months later, after Frankel and her family moved to Los Angeles for her talk show, the media maven again took to Twitter to write about Cookie's case of the fleas.

"She has gnawed & scratched her body to death. She isn't liking LA," Frankel posted.

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Critics seek to delay NYC sugary drinks size limit

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

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

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

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

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

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

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

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

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

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

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

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

___

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Wall Street stymied as investors lack catalysts to trade

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as investors, without any major economic reports to guide them, awaited fresh incentives to trade after rallies took the S&P 500 to five-year highs.

Transportation stocks were among the worst performers, weighed down by a 10 percent drop in CH Robinson Worldwide to $60.40 after the freight transport company posted a lower-than-expected adjusted quarterly profit.

The Dow Jones Transportation index <.djt> shed 0.3 percent after closing at a record high Tuesday for a gain of more than 10 percent in 2013.

The benchmark S&P 500 index has advanced 6 percent this year, climbing to its highest since December 2007. The Dow industrials <.dji> have risen above 14,000 recently, making it a challenge for investors to push stocks higher in the absence of strong positive catalysts.

"Overall, we believe that the next near-term market dip should provide an opportunity to buy stocks ahead of rallies higher in the coming months, but we are skeptical about the long-term sustainability of these gains due to the maturing age of the bull market," said Ari Wald, equity research analyst at C&Co\PrinceRidge in New York.

The Dow Jones industrial average <.dji> was up 5.28 points, or 0.04 percent, at 13,984.58. The Standard & Poor's 500 Index <.spx> was up 0.56 point, or 0.04 percent, at 1,511.85. The Nasdaq Composite Index <.ixic> was up 1.67 points, or 0.05 percent, at 3,173.25.

The tech-heavy Nasdaq index was supported by Apple Inc , which rose 1.1 percent to $462.62.

Walt Disney Co was among the bright spots, up 1.1 percent at $60.31, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.

According to Thomson Reuters data through Wednesday morning, of 301 companies in the S&P 500 <.spx> that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.

Looking ahead, fourth-quarter earnings for S&P 500 companies are expected to grow 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

The benchmark S&P index rose 1.04 percent Tuesday, its biggest percentage gain since a 2.5-percent advance on January 2 after lawmakers agreed on a temporary delay of the "fiscal cliff."

Ralph Lauren Corp climbed 8 percent to $178.15 as the best performer on the S&P 500 after reporting renewed momentum in its holiday-quarter sales and profits.

Time Warner Inc jumped 4.4 percent to $52.15 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in its film, TV entertainment and publishing units.

Visa , the world's largest credit and debit card network, is expected to report earnings per share of $1.79 for its first quarter, up from $1.49 a year earlier. Smaller rival MasterCard MA.N recently reported better-than-expected results but said its revenue growth could slow in the first half of the year due to economic uncertainty.

(Editing by Bernadette Baum and Kenneth Barry)

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Clashes Erupt in Damascus, Shattering Lull, as Prospects for Talks Dim

Goran Tomasevic/Reuters

A building in the Damascus suburb of Zamalka was hit by a mortar shell fired by the Syrian Army on Wednesday.

BEIRUT, Lebanon — Syrian insurgents attacked military checkpoints and other targets in parts of central Damascus on Wednesday, antigovernment activist groups reported. The fighting shattered a lull there as prospects for any talks between the antagonists appeared to dim, a week after the opposition coalition leader first proposed the surprise idea of a dialogue aimed at ending the war.

Some antigovernment activists described the resumption of fighting, which had lapsed for the past few weeks, as part of a renewed effort by rebels to seize control of central Damascus, the Syrian capital, although that depiction seemed highly exaggerated. Witness accounts said many people were going about their business, while others noted that previous rebel claims of territorial gains in Damascus had almost always turned out to be embellished or unfounded.

Representatives of the Military Council of Damascus, an insurgent group, said that at least 33 members of President Bashar al-Assad’s security forces in Damascus had surrendered, while others had fled central Al Abasiyeen Square, and that other forces had erected roadblocks on all access streets to the area to thwart the movement of rebel fighters.

Salam Mohammed, an activist in Damascus, described Al Abasiyeen Square as “on fire,” and a video clip uploaded on YouTube showed a thick column of black smoke spiraling over the area while the sound of shelling could be heard. A voice is heard saying the shelling had started a fire. The Local Coordination Committees, an anti-Assad activist network in Syria, also reported gunfire in nearby streets.

Firas al-Horani, a military council spokesman, said fighters of the Free Syrian Army, the main armed opposition group, were in control of Al Abasiyeen Square. He also said, “The capital, Damascus, is in a state of paralysis at the moment, and clashes are in full force in the streets.”

It was impossible to confirm Mr. Horani’s assertions or the extent of the fighting because of Syrian government restrictions on foreign news organizations. But Syria’s state-run media said insurgent claims of combat success in Damascus were false. “Those are miserable attempts to raise the morale of terrorists who are fleeing our valiant armed forces,” said SANA, the official news agency.

Deadly violence also was reported in the Homs Province town of Palmyra, the site of a notorious prison where Mr. Assad’s father, Hafez, ordered the summary execution of about 1,000 prisoners during an uprising against his family’s grip on power in the 1980s.

The Syrian Observatory for Human Rights, a Britain-based group with a network of contacts inside Syria, said two booby-trapped cars exploded near the military intelligence and state security branches, killing at least 12 members of the security forces and wounding more than 20. The observatory said government forces deployed throughout Palmyra afterward, engaging in gun battles with insurgents that left at least eight civilians wounded in the cross-fire.

SANA also reported an attack but said it was caused by two suicide bombers who had targeted a residential part of the town, killing an unspecified number of civilians.

The new mayhem came as discord appeared to grow within the National Coalition of Syrian Revolutionary and Opposition Forces, the umbrella anti-Assad group, over a proposal made on Jan. 30 by Sheik Ahmad Moaz al-Khatib, its leader, to engage in talks with Mr. Assad’s government aimed at ending the nearly two-year-old conflict, which has left more than 60,000 people dead. Although Sheik Khatib’s proposal contained a number of conditions, it broke a longstanding principle that Mr. Assad must relinquish power before any talks can begin.

Many of Sheik Khatib’s colleagues grudgingly agreed to go along with the proposal after it had been made, but critical voices have been rising, especially among the coalition’s more militant elements.

In a new video uploaded on YouTube, a cleric from the Nusra Front, an anti-Assad Islamist militant group that the Obama administration has classified as a terrorist organization, said in a prayer speech that brute force against Mr. Assad and his disciples was the only solution.

“We will cut their heads, we swear to kill them all, and they will see our worst war,” said the cleric, who spoke in Libyan-accented Arabic at a mosque in the contested northern city of Aleppo, holding a sword in his right hand. “No for the negotiations, no for the talks, no retreat in a jihad for God’s sake.”

Hania Mourtada reported from Beirut, and Rick Gladstone from New York. Karam Shoumali contributed reporting from Antakya, Turkey.

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French court throws out EDF guilty verdict in hacking case

VERSAILLES, France (Reuters) – A French appeals court on Wednesday threw out a 1.5 million euro ($ 2 million) fine against energy giant EDF, overturning a lower court’s ruling that the company had been complicit in hacking the computers of Greenpeace in 2006.

EDF had appealed against the November 2011 decision by the Nanterre criminal court that a company it hired had hacked into confidential information on the computer of Yannick Jadot, then campaign director for the environmental group and now a Greens member of the European Parliament.

“EDF is completely satisfied by this decision,” said EDF lawyer Alexis Gublin. “EDF was always a victim in this affair.”

A judicial investigation into questionable surveillance practices had found that the 84-percent state-owned EDF hired a consulting agency, Kargus, in 2004 to carry out “strategic surveillance” of anti-nuclear activists. EDF argued that Kargus had gone too far without its consent.

Following the decision of the Versailles appeals court, Greenpeace said it would ask prosecutors to launch a further appeal.

“In France, the nuclear industry do what they want, the law doesn’t apply to them,” Greenpeace said in a statement.

Jadot said the ruling sent a “terrible signal at a time when we’re trying to make companies a bit more ethical”.

Alain Quiros, the man who hacked into Jadot’s computer, received a six-month prison sentence in November.

On Wednesday, the appeals court upheld a short jail sentence for an EDF executive involved in the affair, but threw out the sentence of another.

The court also rejected the lower court’s ruling that EDF must pay Greenpeace damages of 500,000 euros ($ 675,000).

The EDF case arose out of an investigation to determine whether the U.S. cyclist Floyd Landis had ordered a private security firm to hack the computers of the French anti-doping agency, which had accused him of using performance-enhancing drugs.

While looking at the computer of the suspected hacker in that case, authorities stumbled upon evidence of Greenpeace computers being accessed illegally.

Landis was stripped of his 2006 Tour de France title after a positive drug test. The November ruling that found against EDF also found Landis guilty, along with his former trainer Arnie Baker, of using documents hacked from the National Laboratory of Doping Screening (LNDD) to try to contest his test results.

Wednesday’s ruling did not apply to Landis, who had not appealed and is being sought by France along with Baker under an international arrest warrant for failing to obey a summons.

(Writing By Alexandria Sage; Editing by Kevin Liffey)

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Bridget Jones Is Back: Helen Fielding to Release New Novel in November

02/05/2013 at 12:30 PM EST

Renée Zellweger in Bridget Jones's Diary

Everett

Bridget's back – and better than ever?

It's been 14 years since readers last heard from frumpy, lovelorn, calorie-counting Bridget Jones, memorably played on film by Renée Zellweger.

Now author Helen Fielding is readying a brand-new Jones novel, but don't expect her lovable protagonist to be exactly the same this time around.

According to a press release about the book obtained by the New York Times, the book will take place in present day London and "represents a totally new phase in Bridget's life."

Considered by some to be a possible Fielding alter-ego, the author explains: "My life has moved on and Bridget's will move on, too."

The new, currently untitled book will be released by Alfred A. Knopf in November, and it's the follow up to 1996's Bridget Jones's Diary and 1999's Bridget Jones: the Edge of Reason.

What do you think Bridget has been up to in the years that passed? Share your thoughts in the comments below.

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Critics seek to delay NYC sugary drinks size limit

NEW YORK (AP) — Opponents of the city's plan to crack down on supersized, sugary drinks have asked a judge to delay enforcement of it, saying beverage makers and sellers shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.

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

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

City lawyers are fighting the lawsuit and have said they'll oppose postponing the restriction, which the city Board of Health approved in September.

"We think that there's been time to comply," a city lawyer, Thomas Merrill, said after the critics indicated last month that they planned to seek a delay. Merrill noted that the city has said it won't seek fines until June.

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

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

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

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

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

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

___

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