Wall Street extends losses, Nasdaq down 1 percent

DEAR ABBY: My boyfriend, "Doug" (24), and I (22) have been in a long-distance relationship for a year, but we were friends for a couple of years before that. I had never had a serious relationship before and lacked experience. Doug has not only been in two other long-term relationships, but has had sex with more than 15 women. One of them is an amateur porn actress.I knew about this, but it didn't bother me until recently. Doug had a party, and while he was drunk he told one of his buddies -- in front of me -- that he should watch a certain porn film starring his ex-girlfriend. ...
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IHT Rendezvous: Europe's Jobless Youth: Should the Old Make Way?

LONDON — A British minister has advised people aged over 60 to go to university and update their skills if they want to continue working.

With youth unemployment on the rise across Europe, it might seem an odd time to be encouraging older people to keep working rather than take a well-earned break and free up jobs for a younger generation.

But with pension funds in deficit and the number of over-60s on the rise, governments and individuals are under pressure to accept that a graying work force will have to work longer.

“There is nothing stopping older people applying for university,” David Willetts, Britain’s higher education minister, said this week. “If they can benefit from it, they should have that opportunity.”

The rules have been eased to allow people of any age to take out student loans to help finance their university education.

“If people need it in order to keep up to date with changes in their jobs, that is an opportunity they are going to take,” the Daily Telegraph quoted the minister as saying.

The advice comes at a time, however, when growing numbers of young Europeans are emigrating in order to find jobs that are unavailable at home.

“From Ireland to Greece, young Europeans are now the ones desperately seeking exit strategies from economies in free fall,” according to The Guardian.

László Andor, the European Union’s employment commissioner, recently quoted jobless figures indicating that 1 in 4 young people under 25 were out of work, a total of 5.7 million, in the 27 member states.

In a special report on Thursday the EurActiv Web site said the Continent faced a digital brain drain as a consequence of a generation of educated young people leaving Europe to seek work elsewhere.

It said the situation was particularly bad in southern states where unemployment was highest. In countries such as Spain, the mass exodus of young, educated people amounted to a brain drain “the likes of which has not been seen since the end of the Spanish Civil War in 1939.”

For those who stay at home — whether they are 25 or 65 — there is clearly no guarantee that university degrees will get them jobs.

When a British coffee chain recently advertised for staff at one of its new stores, it received 1,701 applications for just eight jobs. Among the rejected candidates were a number of jobless new graduates.

Should older people be encouraged to keep working? Or should they step aside to widen the job market for jobless newcomers? Tell us what you think.

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Sean Lowe: Tierra Made Me Feel Like 'Such a Fool'






The Bachelor










02/20/2013 at 12:15 PM EST







Sean Lowe and Tierra on The Bachelor



No regrets? Not so fast.

In his PEOPLE.com blog, The Bachelor's Sean Lowe has written about how he never saw Tierra LiCausi behaving badly – despite what the other women told him about the controversial contestant, who is now engaged.

But after watching, Sean realized the women were right.

"Man, I was such a fool," Sean, told host Chris Harrison on Sean Tells All special Tuesday night. "I really do feel like I was duped."

In fact, Sean, 28, who had an immediate connection with Tierra, says he never should have met her that first night.

"Tierra never should have come on this show. She's not suited for this show," he said. "She doesn't know how to handle herself in this environment. She's a woman who ... simply can't get along with her peers."

Not only did Tierra waste his time, Sean says, he witnessed her "getting into arguments and fights with the sweetest, best people in the house."

But no one may be more upset about Tierra than the women who was sent home instead of Tierra, Jackie Parr, on a two-on-one date in Montana.

I wouldn't have kept [Tierra]," Sean said on Tuesday's special. "I wish I would have kept Jackie on the two-on-one."

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Drug overdose deaths up for 11th consecutive year


CHICAGO (AP) — Drug overdose deaths rose for the 11th straight year, federal data show, and most of them were accidents involving addictive painkillers despite growing attention to risks from these medicines.


"The big picture is that this is a big problem that has gotten much worse quickly," said Dr. Thomas Frieden, head of the Centers for Disease Control and Prevention, which gathered and analyzed the data.


In 2010, the CDC reported, there were 38,329 drug overdose deaths nationwide. Medicines, mostly prescription drugs, were involved in nearly 60 percent of overdose deaths that year, overshadowing deaths from illicit narcotics.


The report appears in Tuesday's Journal of the American Medical Association.


It details which drugs were at play in most of the fatalities. As in previous recent years, opioid drugs — which include OxyContin and Vicodin — were the biggest problem, contributing to 3 out of 4 medication overdose deaths.


Frieden said many doctors and patients don't realize how addictive these drugs can be, and that they're too often prescribed for pain that can be managed with less risky drugs.


They're useful for cancer, "but if you've got terrible back pain or terrible migraines," using these addictive drugs can be dangerous, he said.


Medication-related deaths accounted for 22,134 of the drug overdose deaths in 2010.


Anti-anxiety drugs including Valium were among common causes of medication-related deaths, involved in almost 30 percent of them. Among the medication-related deaths, 17 percent were suicides.


The report's data came from death certificates, which aren't always clear on whether a death was a suicide or a tragic attempt at getting high. But it does seem like most serious painkiller overdoses were accidental, said Dr. Rich Zane, chair of emergency medicine at the University of Colorado School of Medicine.


The study's findings are no surprise, he added. "The results are consistent with what we experience" in ERs, he said, adding that the statistics no doubt have gotten worse since 2010.


Some experts believe these deaths will level off. "Right now, there's a general belief that because these are pharmaceutical drugs, they're safer than street drugs like heroin," said Don Des Jarlais, director of the chemical dependency institute at New York City's Beth Israel Medical Center.


"But at some point, people using these drugs are going to become more aware of the dangers," he said.


Frieden said the data show a need for more prescription drug monitoring programs at the state level, and more laws shutting down "pill mills" — doctor offices and pharmacies that over-prescribe addictive medicines.


Last month, a federal panel of drug safety specialists recommended that Vicodin and dozens of other medicines be subjected to the same restrictions as other narcotic drugs like oxycodone and morphine. Meanwhile, more and more hospitals have been establishing tougher restrictions on painkiller prescriptions and refills.


One example: The University of Colorado Hospital in Aurora is considering a rule that would ban emergency doctors from prescribing more medicine for patients who say they lost their pain meds, Zane said.


___


Stobbe reported from Atlanta.


___


Online:


JAMA: http://www.jama.ama-assn.org


CDC: http://www.cdc.gov


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com


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Wall Street dips after rally, energy shares weaker

NEW YORK (Reuters) - Stocks dipped on Wednesday, with energy shares falling as investors found few reasons to buy following a rally that has held major indexes near five-year highs for three weeks.


In addition, investors waited for the minutes from the Federal Open Market Committee's January meeting due at 2 p.m. (1900 GMT) for clues to the interest rate outlook.


Traders said there were unconfirmed rumors in the market that a troubled hedge fund was selling assets.


"I heard the chatter about a hedge fund liquidating things today but how big, I don't know. Certainly it sparks concern," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


A jump in January of permits for future home building offered hope the housing market's recovery remains on track. A separate report showed wholesale prices rose last month for the first time in four months.


The S&P 500 has jumped about 7 percent so far this year, and is on track for its eighth straight week of gains. However, many of those weekly gains have been slight, with equities trading within a narrow range for the past few weeks, suggesting valuations may be stretched at current levels.


"The market seems very tired and listless, and investors are prone to take profits now as they wait for the music to stop," said Matt McCormick, money manager at Bahl & Gaynor in Cincinnati.


Energy companies were among the weakest, hurt by disappointing corporate results and a 2.4 percent drop in crude oil prices.


Newfield Exploration fell 5.8 percent to $25.73 while Devon Energy Corp fell 1.6 percent to $59.60. Both companies posted fourth-quarter losses, with Devon hurt as it wrote down the value of its assets by $896 million due to weak natural gas prices.


Groundbreaking to build new U.S. homes fell 8.5 percent in January but new permits for construction rose to a 4 1/2-year high while producer prices rose in January for the first time in four months.


Investors will look to the minutes from the Fed's January meeting for any indication as to how long the Fed will keep buying $85 billion in bonds each month to bolster U.S. employment. Economic data should enable the Fed to maintain its easy monetary policy.


The Dow Jones industrial average <.dji> dropped 16.03 points, or 0.11 percent, to 14,019.64. The Standard & Poor's 500 Index <.spx> dropped 5.81 points, or 0.38 percent, to 1,525.13. The Nasdaq Composite Index <.ixic> dropped 13.82 points, or 0.43 percent, to 3,199.77.


Shares of OfficeMax Inc fell 3.8 percent to $12.51 while Office Depot slumped 13 percent to $4.37 as the companies announced a $1.2 billion merger agreement. The shares had risen sharply earlier this week after a source said a deal would be announced. Rival Staples Inc fell 3.5 percent.


Toll Brothers Inc lost 4 percent to $35.43 after the largest luxury homebuilder in the United States, reported first-quarter results well below analysts' estimates.


The stock is up 9 percent so far this year, building on jump of nearly 60 percent in 2012.


"Valuations appear a bit high at these levels, and if I was in a name that had seen a huge run, I'd want to take some chips off the table," said McCormick, who helps oversee about $8.2 billion in assets.


SodaStream dropped 6.5 percent to $49.04 after the seller of home carbonated drink maker machines posted fourth-quarter earnings and provided a 2013 outlook.


According to Thomson Reuters data through Tuesday morning, of the 405 companies in the S&P 500 that have reported results, 71 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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Former Lebanon Minister and Syrian Co-Defendant Could Face Death Penalty





BEIRUT, Lebanon — A Lebanese military court judge on Wednesday charged a former government information minister and his suspected Syrian accomplice of a conspiracy to kill Lebanese political and religious leaders and foment sectarian strife, recommending the death penalty for both.




The announcement about the defendants, Michel Samaha, the former minister, and Mr. Mamlouk, a Syrian security official, came amid increased sectarian tensions in Lebanon that are directly tied to the nearly two-year-old conflict in neighboring Syria, which occupied Lebanon for nearly three decades until 2005 and still deeply polarizes Lebanese politics.


Lebanese officials have said explosives were found in a car belonging to Mr. Samaha, who was arrested on Aug. 9. Mr. Mamlouk was accused of plotting with Mr. Samaha to transport the explosives into the country. An arrest warrant for Mr. Mamlouk was issued this month. His whereabouts is unclear.


It also was unclear how long a trial would last or whether the judge’s recommendations of punishment would be followed if the pair were found guilty. But the Lebanese government’s handling of the politically sensitive case carries its own risks of aggravating sectarian tensions in this country.


On Tuesday, a group claiming to represent a faction of Syrian rebels threatened to lob mortar shells into Lebanon to attack Hezbollah, the Shiite militia that is also Lebanon’s most powerful political party, in retaliation for what rebels say is a Hezbollah military campaign against rebels in Syria. The statement warned Lebanese citizens, especially in the Shiite, pro-Hezbollah border town of Hermel, to stay away from Hezbollah positions that it said were shelling the rebels across the border.


A cross-border skirmish between Hezbollah and Syrian rebels could be a dangerous escalation in Lebanon, which has struggled to stay out of the conflict in Syria.


Representatives of the main group of rebel fighters, the Free Syrian Army, issued conflicting statements, with one saying the threat was a provocation fabricated by Hezbollah, and another confirming it and giving Hezbollah 48 hours to end its attacks or face retaliation.


Hezbollah is closely allied to the Syrian government, while its Sunni rivals in Lebanon largely support the majority Sunni rebels. Rebels say Hezbollah has stepped up its military activity inside Syria, taking over numerous villages near the border. Hezbollah says its fighters have been active only in Syrian villages where Lebanese citizens live and are defending themselves.


With the Syrian conflict threatening to destabilize the region, Russia’s foreign minister said on Wednesday that his country would work with the Arab League to bring about direct talks between Syria’s government and the armed opposition in a bid to end the deadly civil war.


Speaking after a meeting with Arab League officials in Moscow, the minister, Sergey V. Lavrov, told reporters there were “signs of tendencies for dialogue from both the side of the government and the opposition,” Agence France-Presse reported.


Russia has long called for a political solution, but Mr. Lavrov’s statement seemed to indicate a new level of engagement in pushing for talks. Syria’s foreign minister, Walid al-Moallam, is scheduled to visit Moscow on Monday for talks, and the president of Syria’s main opposition coalition, Moaz al-Khatib, is expected to visit Moscow in March, Mr. Lavrov said.


Yet it is unclear whether Mr. Moallem and Mr. Khatib have the full backing of their own sides for talks. Mr. Khatib’s group, the National Coalition of Syrian Revolution and Opposition Forces, insists that it will speak only with members of Mr. Assad’s government without “blood on their hands.” Lakhdar Brahimi, the special Syria peace envoy representing the United Nations and the Arab League, has appeared to support Mr. Khatib’s position, calling on the government to send an “acceptable delegation.”


But on Wednesday, Mr. Lavrov said that the two sides should not impose preconditions or “say that I am going to talk to this person but not that one.” He was speaking after a meeting of the Russia-Arab Forum from which the representatives of the rebels’ main Arab backers, Saudi Arabia and Qatar, were absent.


In Syria on Wednesday, rebel shells appeared to reach new areas in Damascus, activists and witnesses reported. Goran Tomasevic, a photographer for The Associated Press who has recently produced images of fighting in the Damascus suburbs as one of the few foreign journalists with rebel fighters there, described a deadly stalemate between two well-coordinated fighting forces that he said was reminiscent of wars that gutted cities like Sarajevo and Stalingrad.


“Rebel fighters in Damascus are disciplined, skilled and brave,” he wrote in an account published on Wednesday. “In a month on the front-line, I saw them defend a swath of suburbs in the Syrian capital, mount complex mass attacks, manage logistics, treat their wounded.”


But, he added, “as constant, punishingly accurate, mortar, tank and sniper fire attested,” government soldiers, often fighting at close range, “are also well drilled, courageous — and much better armed.”


Both state media and opposition activists reported on Wednesday that mortar rounds had hit the Tishreen sports stadium in the downtown neighborhood of Baramkeh. The state news agency, SANA, said the explosion killed an athlete from the Homs-based Al Wathba soccer team as he was practicing.


Government forces hit a rebel command center in a suburb east of the capital on Wednesday, injuring a founder of the Liwaa al-Islam brigade, Sheik Zahran Alloush, the brigade said in a statement.


It said the attack “won’t stop or weaken the will of the battalion” and asked for “God’s help to reach the criminals for retribution.”


Hania Mourtada and Hwaida Saad contributed reporting.



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BlackBerry Z10 sales estimate slashed by 83% due to slow launch, upcoming competition






Some industry watchers had high hopes for BlackBerry’s (BBRY) first next-generation smartphone in its debut quarter, but it looks like they may have gotten ahead of themselves. Now, the Street is revising its estimates in light of a slower than expected rollout and what appears to be a softer launch than many had hoped for.


[More from BGR: Google shows us what it’s like to use Project Glass [video]]






Canaccord Genuity analyst T. Michael Walkley had initially called for BlackBerry to sell about 1.75 million BlackBerry Z10 smartphones in the February quarter. But after his checks following the phone’s launch in the UK and Canada found limited initial supply and softer than expected demand, the analyst slashed his estimates for the current quarter from 1.75 million units to just 300,000.


[More from BGR: Despite rumored of declining demand, Apple’s iPhone 5 is the No.1 smartphone in the world]


“Our global surveys post the recent BlackBerry Z10 launch indicated mixed initial sales with limited initial supply cited as the reason for early post-launch stock-outs at some carrier stores rather than overwhelming demand,” Walkley wrote in a note to investors. “Our follow-up checks have indicated steady but modest sales levels. With new BB10 smartphones launching in the U.S. only in mid-March or later at subsidized prices no better than competing high-end Apple/Samsung smartphones, combined with our expectations for the Galaxy S IV to launch at a similar time frame in the US market, we are lowering our BB10 sales estimates for the February quarter and all of F2014.”


The analyst continued, noting that “modest Z10 sales into the channel in the U.K. and Canada” were largely responsible for his decision to lower his Z10 sales estimates by 83% for the February quarter. Moving forward, Walkley believes things will remain bleak for BlackBerry.


“We believe carrier support for BlackBerry 10 in the U.S. is modest, as demonstrated by Sprint only planning to launch the Q10 and T-Mobile only the Z10,” he wrote. “Further, we anticipate carriers will not build large inventory levels for BB10, consistent with prior BB7 high-end launches, and will initially stock modest levels given the weaker consumer demand for high-end BlackBerry smartphones.”


Walkley continued, “With our expectations BB10 smartphones will face increasing competition from a host of new Android and Windows smartphones and potentially a new iPhone in 1H/C2013, we anticipate global carrier partners will order cautious initial BB10 inventory levels, leading us to lower our Feb. quarter and F2014 BB10 estimates.”


Canaccord maintained its Sell rating on BlackBerry shares with a $ 9 price target.


This article was originally published on BGR.com


Wireless News Headlines – Yahoo! News




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Mindy McCready's Celebrity Rehab Cast Mate Lisa D'Amato: 'I'm Devastated'















02/19/2013 at 12:55 PM EST







Lisa D'Amato (left) and Mindy McCready


Brian Ach/WireImage; Randi Radcliff


On Sunday night, when news hit of Mindy McCready's apparent suicide, Lisa D'Amato got a phone call from actress Mackenzie Phillips, a cast mate on season 3 of Celebrity Rehab with Dr. Drew.

"We were just trying to put it all together, figure out what happened," D'Amato tells PEOPLE. "Mackenzie doesn't know either. The one thing about Mindy is that she was very much seeming to be fine and perfect on the surface, but she was battling a lot."

McCready, 37, became the third person from their season to die, joining musician Mike Starr and reality star Joey Kovar. "I'm just numb," says D'Amato. "She was such a beautiful, warm-hearted, giving, lovely woman."

D'Amato stayed in contact with McCready off and on since the show. Their last exchange was about a year ago, when McCready sent a text message congratulating D'Amato on winning the all-star edition of America's Next Top Model in December 2011.

"She wanted me to come and visit her at her house," she says. "Her text message was: Finally you got what you deserved."

The cast members forged a deep and lasting bond.

"We went through therapy, and we know more about each other than people who have known us their entire lives. It's a very sacred private time," she says. "And now it feels like half my cast is dead. I am devastated."

And although a total of five Celebrity Rehab cast members have died, D'Amato has only praise for Drew Pinksy.

"He's doing everything right. That's why so many do get saved," she says. "But it's up to the patient to continue with their sobriety or to continue with the efforts to have a better life. He can't live their lives for them. He gives you the tools and it's up to you to use the tools. Dr. Drew is amazing."

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UK patient dies from SARS-like coronavirus


LONDON (AP) — A patient being treated for a mysterious SARS-like virus has died, a British hospital said Tuesday.


Queen Elizabeth Hospital in Birmingham, central England, said the coronavirus victim was also being treated for "a long-term, complex unrelated health problem" and already had a compromised immune system.


A total of 12 people worldwide have been diagnosed with the disease, six of whom have died.


The virus was first identified last year in the Middle East. Most of those infected had traveled to Qatar, Saudi Arabia, Jordan or Pakistan, but the person who just died is believed to have caught it from a relative in Britain, where there have been four confirmed cases.


The new coronavirus is part of a family of viruses that cause ailments including the common cold and SARS. In 2003, a global outbreak of SARS killed about 800 people worldwide.


Health experts still aren't sure exactly how humans are being infected. The new coronavirus is most closely related to a bat virus and scientists are considering whether bats or other animals like goats or camels are a possible source of infection.


Britain's Health Protection Agency has said while it appears the virus can spread from person to person, "the risk of infection in contacts in most circumstances is still considered to be low."


Officials at the World Health Organization said the new virus has probably already spread between humans in some instances. In Saudi Arabia last year, four members of the same family fell ill and two died. And in a cluster of about a dozen people in Jordan, the virus may have spread at a hospital's intensive care unit.


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M&A deals lift shares, suggest more value in market

NEW YORK (Reuters) - U.S. stocks rose on Tuesday as merger activity suggested the market could offer investors still more value even as the S&P 500 and Dow industrials hover near five-year highs.


Equities have resisted a pullback as investors use dips in stocks as buying opportunities. The S&P is up about 7 percent so far in 2013 and has climbed for the past seven weeks in its longest weekly winning streak since January 2011, though most of the weekly gains have been slim.


Office Depot Inc surged 9.4 percent to $5, pulling back from earlier highs after a person familiar with the matter said the No. 2 U.S. office supply retailer was in advanced talks to merge with smaller rival OfficeMax Inc . A deal could come as early as this week.


OfficeMax jumped 20 percent to $12.94 while larger rival Staples Inc shot up 9.4 percent to $14.17 as the best performer on the S&P 500.


More than $158 billion in deals has been announced thus far in 2013. Last week, agreements included the acquisition of H.J. Heinz Co by Berkshire Hathaway , and the sale by General Electric of its remaining stake in NBCUniversal to Comcast Corp .


"Equity investors have to be encouraged by M&A since, if the number crunchers are offering large premiums, that shows how much value is still in the market," said Mike Gibbs, co-head of the equity advisory group at Raymond James in Memphis, Tennessee.


The Dow Jones industrial average <.dji> was up 37.81 points, or 0.27 percent, at 14,019.57. The Standard & Poor's 500 Index <.spx> was up 6.84 points, or 0.45 percent, at 1,526.63. The Nasdaq Composite Index <.ixic> was up 9.39 points, or 0.29 percent, at 3,201.42.


U.S. markets were closed on Monday for the Presidents Day holiday.


Health insurance stocks tumbled, led by a 7 percent drop in Humana Inc to $72.50 after the company said the government's proposed 2014 payment rates for Medicare Advantage participants were lower than expected and would hurt its profit outlook.


UnitedHealth Group lost 1.7 percent to $56.37the biggest drag on the Dow. The Morgan Stanley healthcare payor index <.hmo> dropped 1.6 percent.


Express Scripts rose 2.4 percent to $56.87 after the pharmacy benefits manager posted fourth-quarter earnings.


Wall Street's strong start to the year for was fueled by stronger-than-expected corporate earnings, as well as a compromise by legislators in Washington that temporarily averted automatic spending cuts and tax hikes that are predicted to damage the economy.


The compromise on across-the-board spending cuts postponed the matter until March 1, at which point the cuts take effect. Ahead of the debate over the cuts, known as sequestration, further gains for stocks may be difficult to come by.


"If there's no major contention with sequestration, it looks like stocks are prepared to handle it, but until then we'll probably stay in a consolidation period marked by sideways trading with a slow rate of ascent," said Gibbs.


Economic data showed the NAHB/Wells Fargo Housing Market index unexpectedly edged down to 46 in February from 47 in the prior month as builders faced higher material costs.


According to the Thomson Reuters data through Monday morning, of the 391 companies in the S&P 500 that have reported results, 70.1 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies have risen 5.6 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 Chizu Nomiyama, Kenneth Barry and Nick Zieminski)



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