Wall Street flat as Apple gains; Boeing drags Dow

NEW YORK (Reuters) - Stocks held near the unchanged mark on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks.


Goldman Sachs shares hit their highest level since May 31, 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


JPMorgan shares edged up 0.2 percent at $46.44 and Goldman was up 3.5 percent to $140.27. The KBW bank index <.bkx> gained 0.3 percent.


But with only 37 companies in the S&P 500 having reported earnings so far this season, investors are exercising caution until signs of growth can emerge.


According to Thomson Reuters data, S&P 500 earnings growth is now seen up 2.2 percent from a year ago, Thomson Reuters data showed.


"We didn't have much in the way of earnings, we had some of the big banks, but you've got the heart of earnings season coming up and people are sort of on the sidelines here," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.


A slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply scaled back its forecast for world growth in 2013 to 2.4 percent from an earlier forecast of 3.0 percent.


Shares of Dow component Boeing fell 3.3 percent to $74.39, the biggest drag on the Dow, on concerns about its new Dreamliner passenger jets. Japan's two leading airlines grounded their fleets of 787s after an emergency landing, adding to safety concerns triggered by a series of recent incidents.


The Dow Jones industrial average <.dji> dropped 35.95 points, or 0.27 percent, to 13,498.94. The Standard & Poor's 500 Index <.spx> shed 1.60 points, or 0.11 percent, to 1,470.74. The Nasdaq Composite Index <.ixic> gained 2.91 points, or 0.09 percent, to 3,113.68.


Losses were curbed on the S&P 500 and the Nasdaq moved higher on a bounce in Apple shares, which were up 3.6 percent at $503.31 after losses in three straight sessions. Morgan Stanley stamped the tech giant as a "best idea," citing overblown concerns about iPhone shipments. The S&P technology sector index <.splrct> gained 0.5 percent.


"Apple rebounding certainly helps the market - if Apple wasn't rebounding I don't think we would be at a flat level," said Ghriskey.


Talks to take Dell Inc private were at an advanced stage, with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters. Shares fell 4.6 percent to $12.57 after jumping more than 21 percent over the past two sessions.


U.S. consumer prices were flat in December, pointing to muted inflation pressures that should give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.


Other data showed U.S. homebuilder confidence in the market for single family homes held steady near seven year highs in January, suggesting the outlook for the housing market remained upbeat.


(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)



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Eagles get their man, hire Oregon's Chip Kelly


PHILADELPHIA (AP) — The Philadelphia Eagles have hired Chip Kelly after he originally chose to stay at Oregon.


The 49-year-old Kelly becomes the 21st coach in team history and replaces Andy Reid, who was fired on Dec. 31 after a 4-12 season.


Kelly, who was 46-7 in four years at Oregon, interviewed with the Eagles, Cleveland Browns and Buffalo Bills after leading the fast-flying Ducks to a victory over Kansas State in the Fiesta Bowl. But he opted to remain at Oregon before changing his mind.


The Eagles are known to have interviewed 11 candidates, including two meetings with Seahawks defensive coordinator Gus Bradley. Philadelphia has won just 12 games the last two seasons, after winning the NFC East in 2010.


"Chip Kelly will be an outstanding head coach for the Eagles," owner Jeffrey Lurie said in a statement. "He has a brilliant football mind. He motivates his team with his actions as well as his words. He will be a great leader for us and will bring a fresh energetic approach to our team."


Kelly was thought to be Philadelphia's first choice in a long, exhaustive process that took many twists. The enigmatic Kelly reportedly was close to signing with the Browns after a long interview on Jan. 4. He met with the Eagles for nine hours the next day and the roller coaster ended when he decided to remain at Eugene, Ore.


At the time, it was the second straight year Kelly had entertained overtures from NFL teams only to reject them. He turned down Tampa Bay's job deep into negotiations last season.


The Eagles interviewed two other high-profile college coaches — Penn State's Bill O'Brien and Notre Dame's Brian Kelly. Both of them elected to stay with their schools and Philadelphia issued a statement saying it would continue its search as planned.


"There is no question we spent a considerable amount of time and effort looking at who we thought were the best collegiate candidates for our head coaching job. We did so knowing that there was a remote chance that these coaches would leave their current posts," the team stated on Saturday. "We understood that going into the process, but we wanted to leave no stone unturned while trying to find the best coach for the Philadelphia Eagles. We have no regrets about the effort we made in that direction and we will continue to proceed as planned in our search."


Bradley was thought to be the leading contender, though former Cardinals coach Ken Whisenhunt and former Ravens coach Brian Billick were in the mix.


That all changed when Kelly had a change of heart.


Known as an offensive innovator, the visor-wearing Kelly built Oregon into a national powerhouse. The Ducks went to four straight BCS bowl games — including a bid for the national championship against Auburn two seasons ago — and have won three Pac-12 championships.


Kelly originally went to Oregon in 2007 as offensive coordinator under Mike Bellotti. Before that, he was offensive coordinator at New Hampshire, where he started devising the innovative hurry-up offense the Ducks are known for now.


Oregon finished last season 12-1. The team was ranked No. 1 and appeared headed for another shot at the national championship until a 17-14 overtime loss to Stanford on Nov. 17.


It's unknown whether the possibility of NCAA sanctions based on Oregon's use of recruiting services factored into Kelly's reversal. Kelly indicated in Arizona that he isn't running from anything.


"We've cooperated fully with them," he said. "If they want to talk to us again, we'll continue to cooperate fully. I feel confident in the situation."


Following the bowl, Kelly said he wanted to get the interview process over "quickly." Turns out, it was anything but.


"It's more a fact-finding mission, finding out if it fits or doesn't fit," Kelly said after the Ducks defeated the Wildcats, 35-17. "I've been in one interview in my life for the National Football League, and that was a year ago. I don't really have any preconceived notions about it. I think that's what this deal is all about for me. It's not going to affect us in terms of we're not on the road (recruiting). I'll get an opportunity if people do call, see where they are.


"I want to get it wrapped up quickly and figure out where I'm going to be."


Kelly, who never said if he was leaning one way or another following the bowl, doesn't have any pro coaching experience, but aspects of his up-tempo offense are already being used by some NFL teams, including New England and Washington.


"I said I'll always listen, and that's what I'll do," he said at the time. "I know that people want to talk to me because of our players. The success of our football program has always been about our guys. It's an honor for someone to say they'd want to talk to me about maybe moving on to go coach in the National Football League. But it's because of what those guys do. I'll listen, and we'll see."


The Eagles fired Reid after two forgettable years. A late flurry brought the team to an 8-8 finish last season, but this season, Philadelphia endured an eight-game losing streak, and dropped 11 of its final 12 games. A 3-1 start soon washed away, and Reid's tenure ended not long after.


Oregon's players gave Kelly a Gatorade bath as the final seconds ticked off the clock vs. Kansas State, and afterward a few of the Ducks seemed resigned to their coach moving on.


"We'll have to see," quarterback Marcus Mariota said. "Whatever he decides to do, we're all behind him. He's an unbelievable coach. He's not only a football coach, but he's someone that you can look to and learn a lot of life lessons from. Whatever happens, happens. But we're all behind him.


"We'll see where it takes us."


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Mangroves Are Nature’s Super Heroes, But They’re Not Invincible






Mangrove forests are the X-Men of the environment: persecuted, little understood, but protecting innocents from death and destruction. Mangroves provide coastal areas with natural barriers from the devastation of hurricanes, cyclones, tsunamis, and tidal waves—super storms that threaten to become the new normal if manmade climate change continues unmitigated. 


Superheroes they may be, but mangroves are declining worldwide due to human activity. A report published this month shows that the largest tract of mangrove forest in the world, the Sundarbans in India and Bangladesh, is degrading rapidly. According to the research, conducted by the Zoological Society of London, as much as 200 meters—that’s one-eighth of a mile—of mangrove forest is disappearing from the coastline each year, weakening the region’s natural protection from extreme weather events.  






MORE: Jordan River, Site of Jesus’ Baptism, Too Polluted for Tourists


Sundarbans translates as “beautiful forests” in the Bengali language. It is home to nearly 500 species of reptiles, amphibians, and mammals, including the endangered Bengali tiger—all of which are threatened by the loss of the mangroves.  


Mangroves are coastal wetlands found in tropical and subtropical areas, characterized by a rich diversity of tree, palm, and plant life that can live in salty, tidal conditions. Mangroves are relatively rare, comprising less than one percent of all forest areas.


But they are also some of the most valuable ecosystems in the world, and they’re far more efficient at sequestering carbon than terrestrial tropical forests. Their disappearance releases stored carbon into the atmosphere; scientists are still debating how much. Intact, mangrove forests may be a key element in the fight against climate change.   


“Mangroves can hold carbon in place for hundreds of years. Most inland forests only hold carbon for about 50 years,” said Alfredo Quarto, executive director of the Mangrove Action Project. “When mangroves are disturbed by shrimp farming or by coastal developments, they release carbon at a high rate.”


Unfortunately, disturbances to mangrove forests are common.


An international team of researchers led by the U.S. Geological Survey (USGS) and NASA recently published the results of a project that mapped the deforestation of mangroves over a 25-year time period. The researchers found that 35 percent of the world’s mangrove forests were lost between 1980 and 2000. Just 6.9 percent of mangroves currently exist within protected areas.


 “The current estimate of mangrove forests of the world is less than half what it once was, and much of that is in a degraded condition,” lead author Chandra Giri of USGS told Science Daily


In North America, several species of mangroves surround parts of the Gulf of Mexico. Florida has an estimated 469,000 acres of mangroves, according to the state’s department of environmental protection, providing protected nursery areas for fish, crustaceans, and shellfish, nesting areas for coastal birds, and ecosystem services like nutrient trapping and cycling.


The devastating 2004 tsunami in the Indian Ocean showed what mangroves could do for human settlements, too. The tsunami killed more than 200,000 people—and experts say the scale of disaster would have been even larger without the mangrove forests, which shielded coastal inhabitants from the sheer force of the tsunami’s waves. 


Agricultural production, tourist development, urban expansion, and especially shrimp farming makes it hard for these valuable forests to do their work. Think of these activities as the kryptonite of mangroves, threatening their effectiveness and range.


The Mangrove Action Project is leading a campaign to restore lost mangroves and educate the public about what they can do to help stop the decimation. Alfredo Quarto says shrimp farming in the global south is a major cause of mangrove deforestation—and that to help mangroves, we have to cut back on the shrimp scampi. 


“We’re seeing a huge demand growing in the U.S. for shrimp from Southeast Asia, South Asia, and Latin America,” Quarto told TakePart. “Shrimp farmers in many countries move into new areas every few years, causing the loss of mangroves. We want people to know about the problem and play an active role in what they consume. We could cut back our shrimp consumption and not be hurting in terms of the possibilities on our plate.”


Related Stories on TakePart:


Stunning Photos: China’s Yantze River Mysteriously Turns Bright Red


• Millions of Fish-Killing Plastic Pellets Wash Up on Hong Kong Beaches


• Raw Sewage: The Next Environmental Catastrophe?



Alison Fairbrother is the director of the nonpartisan Public Trust Project, which investigates and reports on misrepresentations of science by corporations and government. She has written for the Washington Monthly, the Washington Spectator, Grist, and Politics Daily, among others. Alison is based in Washington DC. @adfairbrother | TakePart.com


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Gruesome toll of cluster bombs in Syria






STORY HIGHLIGHTS


  • Human Rights Watch says cluster bombs were used on Syrian town of Latamneh

  • Cluster bombs release dozens of smaller bombs, which can maim or kill long after impact

  • Syrian regime has previously denied cluster bombs on civilians




Editor's note: Mary Wareham is the Arms Division's Advocacy Director for Human Rights Watch and chief editor of 'Cluster Munition Monitor 2012.'


(CNN) -- It was cloudy the afternoon of January 3 when residents say the cluster bombs fell on the Syrian town of Latamneh.


Three rockets containing the cluster munitions fell in nearby fields, apparently doing no harm, but a fourth landed on the street between residential buildings. Its impact was devastating.


One man was driving down the street when submunitions from the rockets exploded, killing him instantly, residents said. Fifteen civilians walking down the street or in their homes were wounded, including women and children, according to two residents and video evidence. Residents said that an hour after the attack, a submunition that had failed to detonate on impact killed a man who tried to remove it from his yard. It exploded in his hands.



Mary Wareham

Mary Wareham



Since mid-2012, Human Rights Watch and others have reported several times on civilian casualties caused by Syrian use of air-dropped cluster bombs, but Latamneh and other recent attacks are the first known instances of Syrian use of ground-based cluster munitions. The rockets were apparently launched from the vicinity of nearby Hama airport, which is under government control.


Evidence we have seen suggests that Syrian government forces delivered the 122mm cluster munition rockets containing submunitions using a BM-21 Grad multi-barrel rocket launcher, a truck-mounted system capable of firing 40 rockets nearly simultaneously with a range of 4 to 40 kilometers (2.5 to 25 miles). Grad rocket launchers are notorious for their inability to be accurately targeted due to their lack of a guidance system. This exacerbates the danger from the wide-area effect of the submunitions the rockets contain.


More: Syrian regime denies use of cluster bombs


Many countries, including Lebanon and Cambodia, have experienced civilian casualties from similar types of submunitions, both at the time of attack and from submunitions that didn't explode on initial impact. Each submunition is the size of a D-cell battery with a distinctive white ribbon, and the design of their fuze system makes each one very sensitive and liable to detonate if disturbed.


After years of civilian harm caused by cluster munitions, Israel's massive use of the weapons in southern Lebanon in 2006 helped propel governments into action. Working with civil society groups such as Human Rights Watch and international organizations, a broad-based coalition of like-minded governments sought to do something to reduce the unacceptable harm caused by cluster munitions.


The resulting Convention on Cluster Munitions, adopted May 30, 2008, comprehensively prohibits cluster munitions and requires their clearance and assistance to victims. A total of 111 nations, including many former users, producers, and stockpilers of the weapon, as well as countries contaminated by cluster munition remnants, have embraced the ban convention.


Yet there has been limited interest in the Middle East and North Africa regions, where just three countries—Iraq, Lebanon, and Tunisia—are onboard the treaty banning cluster bombs. Some nations, such as Jordan, say they need more time to study the convention's provisions, while others including Egypt, Iran, and Israel have produced, imported, exported, and stockpiled cluster munitions.


The 122mm cluster munition rockets used by Syria bear the markings of the Egyptian state-owned Arab Organization for Industrialization and an Egyptian company called Sakr Factory for Development Industries. Syria could have bought these cluster munitions from Egypt, received them through military cooperation, or acquired them another way. With no transparency, it is impossible to say how or when they were made or transferred, though it is likely Syria acquired them long ago.


Syria's relentless use of cluster munitions, including in populated areas, is yet another sign of its blatant disregard for international law and the protection of its own civilians. Syria's use of cluster munitions runs counter to the new international standard being created by the Convention on Cluster Munitions, rejecting any use of the weapons.


The preventive impact of the convention and the standard it is establishing can already be seen as countries that have joined the ban rapidly destroy their stockpiles of cluster munitions.


In Syria, every time the government has used cluster munitions and other explosive weapons, a lethal legacy of unexploded ordnance is created. Given the terrible humanitarian impact, all governments, regardless of their position on joining the ban convention, should press Syria to stop using cluster munitions.







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Obama unveils biggest gun-control push in decades

WASHINGTON - President Barack Obama proposed a new assault weapons ban and mandatory background checks for all gun buyers on Wednesday as he tried to channel national outrage over the Newtown school massacre into the biggest U.S. gun-control push in decades.


Rolling out a wide-ranging plan for executive and legislative action to curb gun violence, Obama set up a fierce clash with the powerful U.S. gun lobby and its supporters in Congress, who will resist what they see as an encroachment on constitutionally protected gun rights.


Obama presented his agenda at a White House event in front of an audience that included relatives of some of the 20 first-graders who were killed along with six adults by a gunman on Dec. 14 at Sandy Hook Elementary School in Newtown, Connecticut.


“We can't put this off any longer,” Obama said, vowing to use “whatever weight this office holds” to make his proposals reality. “Congress must act soon.”


Until now, Obama had done little to rein in America's gun culture during his first four years in office. But just days before his second inauguration, he appears determined to champion gun control in his next term with a concerted drive for tighter laws and other steps aimed at preventing new tragedies like the one at Newtown.


The proposals stem from a month-long review led by Vice President Joe Biden, who on orders from Obama met with advocates on both sides, including representatives from the weapons and entertainment industries.


Obama's plan calls on Congress to renew a prohibition on assault weapons sales that expired in 2004, a requirement for criminal background checks on all gun purchases, including closing a loophole for gun show sales, and a new federal gun trafficking law - long sought by big-city mayors to keep out-of-state guns off their streets.


He also announced 23 steps he intends to take immediately without congressional approval. These include improvements in the existing system for background checks, lifting the ban on federal research into gun violence, putting more counselors and “resource officers” in schools and better access to mental health services.


ASSAULT WEAPONS BATTLE


The most politically contentious piece of the package is Obama's call for a renewed ban on military-style assault weapons, a move that Republicans who control the House of Representatives are expected to oppose.


The Newtown gunman, 20-year-old Adam Lanza, used a Bushmaster AR-15 type assault rifle to shoot his victims, many of them 6- and 7-year-olds, before killing himself.


Underscoring the tough political fight ahead, the National Rifle Association, launched a scathing advertising campaign against Obama's gun control effort and deployed its representatives in force on Capitol Hill.


The NRA, which says it has about 4 million members, took aim at Obama in a stinging TV and Internet spot, accusing him of being “just another elitist hypocrite” for accepting Secret Service protection for his two daughters but turning down the lobby group's proposal to put armed guards in all schools.


As he announced the new gun measures, Obama was flanked on the stage by children from around the country chosen from among those who sent letters to him about gun violence and school safety.


“We should learn from what happened at Sandy Hook. I feel really bad,” a boy wrote in a portion that Obama read from the podium.


With gun ownership rights enshrined in the U.S. Constitution, gun restrictions have long been a divisive - and risky - issue in American politics.


But polls show that public sentiment shifted in favor of increased gun-control measures after the Newtown shooting, and Obama hopes to take advantage while there is a mood for action in Washington.


However, the White House is mindful that the clock is ticking. The usual pattern after U.S. shooting tragedies is that memories of the events soon fade, making it hard to sustain a push for gun policy changes.


Obama acknowledged the political challenges but made clear that he is prepared to take on the NRA, despite its widespread support among Republicans and significant backing among Democrats.


He warned that opponents of his effort would try to “gin up fear” and urged lawmakers to think more about the safety of schoolchildren than trying to “get an ‘A' grade from the gun lobby that supports their campaign.”


Obama's plan appears to tread cautiously on the question of whether violent movies and video games contribute to the gun violence, which would open up issues of freedom of expression.


A senior administration official said, however, that Obama would be asking for $10 million for the U.S. Centers for Disease Control and Prevention to study the root causes of gun violence, including any relationship to video games and media images.


Seeking to jump-start his plan, Obama also nominated Todd Jones to head the Bureau of Alcohol, Tobacco and Firearms, quietly abandoning Andrew Traver, whose nomination for the job has long been stalled. Jones is currently the acting director of the law enforcement agency.


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Dozens held after Islamists attack Algerian gas field


ALGIERS (Reuters) - Islamist militants attacked a gas field in Algeria on Wednesday, claiming to have kidnapped up to 41 foreigners including seven Americans in a dawn raid in retaliation for France's intervention in Mali, according to regional media reports.


The raiders were also reported to have killed three people, including a Briton and a French national.


An al Qaeda affiliated group said the raid had been carried out because of Algeria's decision to allow France to use its air space for attacks against Islamists in Mali, where French forces have been in action against al Qaeda-linked militants since last week.


The attack in southern Algeria also raised fears that the French action in Mali could prompt further Islamist revenge attacks on Western targets in Africa, where al Qaeda in the Islamic Maghreb (AQIM) operates across borders in the Sahara desert, and in Europe.


AQIM said it had carried out Wednesday's raid on the In Amenas gas facility in OPEC member Algeria, Mauritania's ANI news agency reported.


The Algerian interior ministry said: "A terrorist group, heavily armed and using three vehicles, launched an attack this Wednesday at 5 a.m. against a Sonatrach base in Tigantourine, near In Amenas, about 100 km (60 miles) from the Algerian and Libyan border."


"The Algerian authorities will not respond to the demands of the terrorists and will not negotiate," Interior Minister Daho Ould Kablia was quoted as saying by official news agency APS.


The gas field is operated by a joint venture including BP, Norwegian oil firm Statoil and Algerian state company Sonatrach.


ARMED MEN


BP said armed men were still occupying facilities at the gas field, which produces 9 billion cubic meters of gas a year(160,000 barrels of oil equivalent per day), more than a tenth of the country's overall gas output, and 60,000 barrels a day of condensate.


"The site was attacked and occupied by a group of unidentified armed people at about 0500 UK time. Contact with the site is extremely difficult, but we understand that armed individuals are still occupying the In Amenas operations site," it said.


APS said a Briton and an Algerian security guard had been killed and seven people were injured. A French national was also killed in the attack, a local source said.


Also among those reported kidnapped by various sources were five Japanese nationals working for the Japanese engineering firm JGC Corp, a French national, an Irishman, and a number of Britons.


The U.S. State Department said it believed some U.S. citizens were also among the hostages, while Norway said 13 of its nationals were involved.


A member of an Islamist group styling itself the "Blood Battalion" was quoted by Mauritanian media as saying that five of the hostages were being held at the gas facility and 36 were in a housing area. APS said the Islamist raiders had freed Algerians working at the gas facility.


"The operation was in response to the blatant interference by Algeria and the opening of its air space to French aircraft to bomb northern Mali," the Islamist spokesman told Mauritania's ANI news agency.


ANI, which has regular direct contact with Islamists, said that fighters under the command of Mokhtar Belmokhtar were holding the foreigners.


Belmokhtar for years commanded al Qaeda fighters in the Sahara before setting up his own armed Islamist group late last year after an apparent fallout with other militant leaders.


The Algerian army was in the area of the gas facility, according to French and Algerian sources.


ANI also reported that the Islamists said they were surrounded by Algerian forces and warned that any attempt to free the hostages would lead to a "tragic end". One of the hostage takers told ANI that the perimeter of the site had been mined.


SECURITY IMPLICATIONS


The attack was the first time in years that Islamist militants are known to have launched an attack on an Algerian energy facility.


The attack could have implications for security across the whole of Algeria's energy sector, which supplies about a quarter of Europe's natural gas imports and exports millions of barrels of crude oil each year.


Such an attack would require a large and heavily armed insurgent force with a degree of freedom to move around, all elements that al Qaeda has not previously had.


However, the conflict in neighboring Libya in 2011 changed the balance of force. Security experts say al Qaeda was able to obtain arms, including heavy weapons, from the looted arsenals of former leader Muammar Gaddafi.


Statoil, a minority shareholder in the gas venture, said it had 17 employees at the plant and four of them had been evacuated. The company declined to comment on the other 13.


The five Japanese work for the engineering firm JGC Corporation, Jiji news agency reported, quoting company officials. JGC has a deal with Sonatrach-BP-Statoil Association for work in gas production at In Amenas.


A reporter for Japan's NHK television managed to call a JGC worker in Algeria.


The worker said he got a phone call from a colleague at the gas field. "It was around 6 a.m. this morning. He said that he had been hearing gunshots for about 20 minutes. I wasn't able to get through to him since."


French troops launched their first ground operation against Islamist rebels in Mali on Wednesday in an action to dislodge from a strategic town al Qaeda-linked fighters who have resisted six days of air strikes.


(Additional reporting by Catherine Bremer and John Irish in Paris, Laurent Prieur in Nouakchott, Andrew Osborn in London, Balazs Koranyi in Oslo, Antoni Slodkowski in Tokyo, Raissa Kasolowsky in Abu Dhabi and Christian Lowe in Warsaw; Editing by Giles Elgood and Will Waterman)



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Wall Street pulls flat as Apple pares losses, retailers gain

NEW YORK (Reuters) - Stocks pared losses and pulled near the unchanged mark on Tuesday as tech heavyweight Apple came off earlier lows and economic data helped retailers advance.


Apple fell for the third day in a row as the biggest drag on both the S&P 500 and Nasdaq 100 <.ndx> after reports on Monday of cuts to orders for iPhone parts. Shares were down nearly 2.5 percent at $489.11, rebounding somewhat from a session low of $483.84, its lowest level since February.


Retailer stocks advanced and helped to minimize the market's decline after a government report that retail sales rose more than expected in December was seen as a favorable sign for fourth-quarter growth. However, a separate report showed manufacturing activity in New York state contracted for the sixth month in a row in January.


"It's trying to push its way up in here, the question is, has Apple stabilized maybe a little bit down here? The retail sales numbers were really good, much better than expected this morning and that is helping the whole retail group," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.


"The bulls are clearly trying to take control of this market and hold it up here. There is clearly buying on any of the dips."


American Eagle Outfitters Inc gained 4 percent to $20.43 and Gap Inc rose 3 percent to $32.32. The Morgan Stanley retail index <.mvr> climbed 1.2 percent.


Investors also continue to eye the looming debt ceiling debate. On Monday, President Barack Obama rejected any negotiations with Republicans over raising the U.S. debt ceiling. The United States could default on its debt if Congress does not increase the borrowing limit.


Resolving the debt ceiling debate is more a question of how than if. Investors don't expect a U.S. default, but they are also wary of another eleventh-hour agreement like the one in August 2011.


The Dow Jones industrial average <.dji> shed 1.42 points, or 0.01 percent, to 13,505.90. The Standard & Poor's 500 Index <.spx> dipped 0.46 points, or 0.03 percent, to 1,470.22. The Nasdaq Composite Index <.ixic> lost 6.30 points, or 0.20 percent, to 3,111.20.


An expected lackluster earnings season also kept investors from taking aggressive bets. Analyst estimates for the quarter have fallen sharply since October. S&P 500 earnings growth is now seen up just 1.8 percent from a year ago, Thomson Reuters data showed.


Homebuilder Lennar reported a sharp rise in quarterly profit, but the stock fell 2.1 percent to $40.16 on worries that growth in orders was slowing. The PHLX housing sector index <.hgx> declined 0.3 percent.


Express Inc surged 22.5 percent to $17.22 as the biggest percentage gainer on the New York Stock Exchange after the apparel retailer raised its fourth-quarter and full year 2012 outlook.


Dell Inc shares added to earlier gains, up 5 percent to $12.91 after sources said talks to take the computer maker private are in an advanced stage.


Facebook declined 1 percent to $30.66 after the company unveiled a "graph search" feature that CEO Mark Zuckerberg said would help its billion-plus users sort through content within the social network and its content feeds.


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



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Oprah: Lance Armstrong admitted doping


AUSTIN, Texas (AP) — Lance Armstrong has finally come clean.


Armstrong confessed to doping during an interview with Oprah Winfrey taped Monday, just a couple of hours after a wrenching apology to staff at the Livestrong charity he founded and has now been forced to surrender.


The day ended with 2 1/2 hours of questions from Winfrey at a downtown Austin hotel, where she said the world's most famous cyclist was "forthcoming" as she asked him in detail about doping allegations that followed him throughout his seven Tour de France victories.


Speaking on "CBS This Morning," Winfrey said Tuesday she had not planned to address Armstrong's confession before the interview aired on her OWN network but, "by the time I left Austin and landed in Chicago, you all had already confirmed it."


"So I'm sitting here now because it's already been confirmed," she added.


The session was to be broadcast on Thursday but Winfrey said it will now run in two parts over two nights because there is so much material.


Winfrey would not characterize whether Armstrong seemed contrite but said he seemed ready for the interview. "I would say that he met the moment," she said.


"I don't think 'emotional' begins to describe the intensity or the difficulty he experienced in talking about some of these things."


The confession was a stunning reversal for a proud athlete and celebrity who sought lavish praise in the court of public opinion and used courtrooms to punish his critics.


For more than a decade, Armstrong dared anybody who challenged his version of events to prove it. Finally, he told the tale himself after promising over the weekend to answer Winfrey's questions "directly, honestly and candidly."


The cyclist was stripped of his Tour titles, lost most of his endorsements and was forced to leave Livestrong last year after the U.S. Anti-Doping Agency issued a damning, 1,000-page report that accused him of masterminding a long-running doping scheme.


The International Cycling Union, or UCI, issued a statement on Tuesday saying it was aware of the reports that Armstrong had confessed to Winfrey. The governing body for the sport urged Armstrong to tell his story to an independent commission it has set up to examine claims it covered up suspicious samples from the cyclist, accepted financial donations from him and helped him avoid detection in doping tests.


Armstrong started Monday with a visit to the headquarters of Livestrong, the charity he founded in 1997 and turned into a global force on the strength of his athletic dominance and personal story of surviving testicular cancer that had spread to his lungs and brain.


About 100 Livestrong staff members gathered in a conference room as Armstrong told them "I'm sorry." He choked up during a 20-minute talk, expressing regret for the long-running controversy tied to performance-enhancers had caused, but stopped short of admitting he used them.


Before he was done, several members were in tears when he urged them to continue the charity's mission, helping cancer patients and their families.


"Heartfelt and sincere," is how Livestrong spokeswoman Katherine McLane described his speech.


Armstrong later huddled with almost a dozen people before stepping into a room set up at a downtown Austin hotel for the interview with Winfrey. The group included close friends and lawyers. They exchanged handshakes and smiles, but declined comment.


Winfrey has promoted her interview, one of the biggest for OWN since she launched the network in 2011, as a "no-holds barred" session, and after the voluminous USADA report — which included testimony from 11 former teammates — she said she went into the session with 112 questions ready to go. Not all of them were asked, she said, but many were.


USADA chief executive Travis Tygart, a longtime critic of Armstrong's, called the drug regimen practiced while Armstrong led the U.S. Postal Service team "the most sophisticated, professionalized and successful doping program that sport has ever seen." USADA did not respond to requests for comment about Armstrong's confession.


For years, Armstrong went after his critics ruthlessly during his reign as cycling champion. He scolded some in public and didn't hesitate to punish outspoken riders during the race itself. He waged legal battles against still others in court.


At least one of his opponents, the London-based Sunday Times, has already filed a lawsuit to recover about $500,000 it paid him to settle a libel case, and Dallas-based SCA Promotions, which tried to deny Armstrong a promised bonus for a Tour de France win, has threatened to bring another lawsuit seeking to recover more than $7.5 million awarded by an arbitration panel.


In Australia, the government of South Australia state said Tuesday it will seek the repayment of several million dollars in appearance fees paid to Armstrong for competing in the Tour Down Under in 2009, 2010 and 2011.


"We'd be more than happy for Mr. Armstrong to make any repayment of monies to us," South Australia Premier Jay Weatherill said.


Betsy Andreu, the wife of former Armstrong teammate Frankie Andreu, was one of the first to publicly accuse Armstrong of using performance-enhancing drugs. She called news of Armstrong's confession "very emotional and very sad," and choked up when asked to comment.


"He used to be one of my husband's best friends and because he wouldn't go along with the doping, he got kicked to the side," she said. "Lance could have a positive impact if he tells the truth on everything. He's got to be completely honest."


Betsy Andreu testified in SCA's arbitration case challenging the bonus in 2005, saying Armstrong admitted in an Indiana hospital room in 1996 that he had taken many performance-enhancing drugs, a claim Armstrong vehemently denied.


"It would be nice if he would come out and say the hospital room happened," Andreu said. "That's where it all started."


Former teammate Floyd Landis, who was stripped of the 2006 Tour de France title for doping, has filed a federal whistle-blower lawsuit that accused Armstrong of defrauding the U.S. Postal Service. An attorney familiar with Armstrong's legal problems told the AP that the Justice Department is highly likely to join the lawsuit. The False Claims Act lawsuit could result in Armstrong paying a substantial amount of money to the U.S. government. The deadline for the department to join the case is Thursday, though the department could seek an extension if necessary.


According to the attorney, who works outside the government, the lawsuit alleges that Armstrong defrauded the U.S. government based on his years of denying use of performance-enhancing drugs. The attorney spoke on condition of anonymity because the source was not authorized to speak on the record about the matter.


The lawsuit most likely to be influenced by a confession might be the Sunday Times case. Potential perjury charges stemming from Armstrong's sworn testimony in the 2005 arbitration fight would not apply because of the statute of limitations. Armstrong was not deposed during the federal investigation that was closed last year.


Armstrong is said to be worth around $100 million. But most sponsors dropped him after USADA's scathing report — at the cost of tens of millions of dollars — and soon after, he left the board of Livestrong.


After the USADA findings, he was also barred from competing in the elite triathlon or running events he participated in after his cycling career. World Anti-Doping Code rules state his lifetime ban cannot be reduced to less than eight years. WADA and U.S. Anti-Doping officials could agree to reduce the ban further depending on what information Armstrong provides and his level of cooperation.


___


Litke reported from Chicago. Pete Yost in Washington also contributed to this report.


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W.Va. average gas prices rise 2 cents per gallon






CHARLESTON, W.Va. (AP) — Motorists are paying more for gas in West Virginia than they did a week ago.


AAA East Central says the average price for a gallon of regular gasoline is $ 3.44, up 2 cents from a week ago.






The national average remained unchanged at $ 3.30.


The highest average price is in Martinsburg, where a gallon of regular costs $ 3.60. Motorists in Parkersburg are paying the lowest price at $ 3.28.


Energy News Headlines – Yahoo! News





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Are gun curbs just symbolism?






STORY HIGHLIGHTS


  • Gun violence recommendations are expected from Vice President Biden on Tuesday

  • The proposals are expected to contain substantive and symbolic ideas to curb gun violence

  • Presidents use symbolism to shift public opinion or affect larger political or social change




Washington (CNN) -- The pictures told the story: Vice President Joe Biden looked solemn, patrician and in control as he sat at a long table in the White House, flanked by people on both sides of the gun control issue.


The images conveyed a sense that the White House was in command on this issue.


And that's the point. Historically, presidential administrations have used symbolic imagery—at times coupled with marginal actions—to shift public opinion or affect larger political or social change.


"Politics is a risk taking project," said Julian Zelizer, a Princeton University historian and CNN contributor. "They put together these commissions in response to some crisis. You try a hundred things and hope something works."


As Biden's gun control task force recommendations land on the desk of President Barack Obama, political experts say it is important that his administration sends a clear signal that it has things in hand.


Obama says gun lobby stokes fear of federal action










That is especially critical in what will likely be an uphill battle to push specific changes, like an assault weapons ban, as part of a broader effort on gun control.


The first move in the image battle will be to appear to move quickly and decisively.


"You have to give the Obama administration credit for one thing: They've learned from history to do things quickly," Larry Sabato, director of the University of Virginia's Center for Politics, said of previous task force initiatives that fizzled.


In 2010, Obama appointed a bipartisan commission headed by former Republican Sen. Alan Simpson of Wyoming and Erskine Bowles, a former Democratic White House chief of staff, to come up with a proposal to balance the budget and cut the debt.


Like the gun task force, Simpson-Bowles reviewed current regulations, gathered input from the public and engaged in tense internal conversations. But after months of working on a proposal—a blend of steep revenue increases and spending cuts—the group struggled to agree to a solution. The president did not take up the recommendations.


Obama largely avoided the issue of gun control during his first term.


He wrote an opinion piece two months after the 2011 assassination attempt on Rep. Gabrielle Giffords of Arizona, acknowledging the importance of the Second Amendment right to bear arms. In the piece he also called for a focus on "effective steps that will actually keep those irresponsible, law-breaking few from getting their hands on a gun in the first place."


Newtown searches for answers a month later


But in the aftermath of that shooting and as the election season loomed, the Justice Department backed off from a list of recommendations that included a measure designed to help keep mentally ill people from getting guns.


For now, at least, there is a sense in Washington that the Newtown, Connecticut, school shooting where 26 people -- 20 of them young children -- were slaughtered could lead to meaningful legislative reform.


Public opinion would seem to suggest that the White House efforts are well timed.


In the month since the massacre, a new poll showed the percentage of Americans who said they were dissatisfied with America's gun laws has spiked.


The Gallup survey released on Monday showed 38% of Americans were dissatisfied with current gun regulations, and wanted stricter laws. That represented 13-point jump from one year ago, when 25% expressed that view. "You want to strike while the iron is hot," Sabato said. "We Americans have short attention spans and, as horrible as the Newtown shooting was, will anyone be surprised if we moved along by spring?"


The White House has since worked overtime to show it considers gun control an urgent matter.


The vice president has spent the last week meeting with what the White House calls "stakeholders" in the gun control debate.


On Monday, Biden was to meet with members of a House Democratic task force on guns, along with Attorney General Eric Holder, Homeland Security Secretary Janet Napolitano, and Kathleen Sebelius, the secretary of Health and Human Services.


Universal background check: What does it mean?


In a series of face to face discussions on Thursday, Biden sat down with the National Rifle Association and other gun owners groups before conferring with representatives from the film and television industry.


In a sign the White House is prepared to move aggressively on its proposals, Biden made public comments just before meeting with the National Rifle Association, the country's most powerful gun lobby.


"Putting the vice president in charge of (the task force) and having him meeting with these groups is intended to show seriousness and an effort to reach out and respond to concerns and wishes of various groups," said Alan Abramowitz, a political science professor at Emory University.


Still, the NRA expressed disappointment in its discussion with Biden and later released a statement that accused the administration of mounting "an agenda to attack the Second Amendment."


Organizations seeking tougher gun control laws insist an assault weapons ban is critical to addressing the nation's recent rash of mass shootings. However, such a ban could be difficult in a Congress mired in gridlock.


"The bully pulpit is limited. It's hard for the president to sustain that momentum," Zelizer said of the White House's gun control efforts after the Newtown shootings. "The thing about symbolism is, like the shock over Newtown, they fade quickly."


Newtown opens eyes to other gun violence against young people


CNN's Jim Acosta and Kevin Liptak contributed to this report






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