American Idol: Early Favorites Eliminated in Hollywood






American Idol










02/07/2013 at 10:30 PM EST







From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban


Michael Becker/FOX.


At the beginning of Thursday's American Idol, there were 43 men left in the competition. The next hour was a bloodbath, with many tears and a few tantrums – as well as some standout performances. Curtis Finch Jr., for example, performed a version of Christina Perri's "Jar Of Hearts" that was arguably the strongest of the evening. It may be the season's most overdone song, yet Finch successfully infused it with a rising gospel vibe.

Like every reality show, the contestants learned valuable life lessons as they fought to stay in the game. Here are five:

1. Never Let Them See You Sweat
Paul Jolley looked like he was going to throw up when he took the stage. "I'm so nervous," he said as he fought back tears. The judges watched quietly as he pulled himself together and gave a strong performance of Carrie Underwood's "Blown Away." He advanced, but not before Nicki Minaj criticized him for showing his nerves. "You walked out so defeated and that really irritated me," she said. "Just give us one minute of professionalism."

2. Be Funny and Unexpected
Admit it: It was kind of funny watching Gurpreet Singh Sarin nail "Georgia On My Mind." The judges liked him, perhaps because he doesn't fit any mold. Neither does Charlie Askew, who worked his quirky awkwardness into an intriguing version of Gotye's "Somebody that I Used To Know," complete with a spoken-word intro. "I am obsessed with you," Minaj said, prompting Askew to respond, "Baby, I could say the same thing." She ate it up.

3. Too Much of A Good Thing Can Be Lethal
Matheus Fernandes, one of the standouts from the Los Angeles auditions, was eliminated after a shaky rendition of Kelly Clarkson's "Stronger." The 4'9" contestant made one too many self-depreciating comments about his height, prompting Minaj to say, "Sometimes things can go from being inspiring to becoming you wanting a pity party." When Carey called him a "good person," his face said it all – Fernandes knew he wouldn't be advancing to the next round. In contrast, Lazaro Arbos said nary a word about his stutter, yet he advanced easily, despite an unspectacular rendition of Lady Gaga's "Edge of Glory."

4. If You Lose, Lose Gracefully
The night's "Sour Grapes Award" goes to Papa Peachez, who performed a karaoke-worthy version of Gaga's "Yoü and I." Minaj was unimpressed. "I'm so disappointed," she said. "I don't know why you chose that song." After he was eliminated, Peachez decided he didn't want to win American Idol, after all. "This isn't the competition for me," he said. "I just don't like singing other people's songs."

5. Big Risks Can Reap Big Rewards
Nick Boddington was eliminated in Las Vegas last season, so he came back determined to take some risks. He accompanied himself on the piano while singing Grace Potter's "Stars." It was a strong performance that the judges loved.

After the dust settled, 28 contestants remained. The judges corralled them onto the stage and announced that they would eliminate eight more male contestants next week, after the ladies' auditions.

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New whooping cough strain in US raises questions


NEW YORK (AP) — Researchers have discovered the first U.S. cases of whooping cough caused by a germ that may be resistant to the vaccine.


Health officials are looking into whether cases like the dozen found in Philadelphia might be one reason the nation just had its worst year for whooping cough in six decades. The new bug was previously reported in Japan, France and Finland.


"It's quite intriguing. It's the first time we've seen this here," said Dr. Tom Clark of the Centers for Disease Control and Prevention.


The U.S. cases are detailed in a brief report from the CDC and other researchers in Thursday's New England Journal of Medicine.


Whooping cough is a highly contagious disease that can strike people of any age but is most dangerous to children. It was once common, but cases in the U.S. dropped after a vaccine was introduced in the 1940s.


An increase in illnesses in recent years has been partially blamed on a version of the vaccine used since the 1990s, which doesn't last as long. Last year, the CDC received reports of 41,880 cases, according to a preliminary count. That included 18 deaths.


The new study suggests that the new whooping cough strain may be why more people have been getting sick. Experts don't think it's more deadly, but the shots may not work as well against it.


In a small, soon-to-be published study, French researchers found the vaccine seemed to lower the risk of severe disease from the new strain in infants. But it didn't prevent illness completely, said Nicole Guiso of the Pasteur Institute, one of the researchers.


The new germ was first identified in France, where more extensive testing is routinely done for whooping cough. The strain now accounts for 14 percent of cases there, Guiso said.


In the United States, doctors usually rely on a rapid test to help make a diagnosis. The extra lab work isn't done often enough to give health officials a good idea how common the new type is here, experts said.


"We definitely need some more information about this before we can draw any conclusions," the CDC's Clark said.


The U.S. cases were found in the past two years in patients at St. Christopher's Hospital for Children in Philadelphia. One of the study's researchers works for a subsidiary of Johnson & Johnson, which makes a version of the old whooping cough vaccine that is sold in other countries.


___


JournaL: http://www.nejm.org


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Asian shares pause, caution before ECB

TOKYO (Reuters) - Asian shares and the euro paused on Thursday, with investors seeking clues from European Central Bank President Mario Draghi on growth prospects for the euro zone economy at a policy meeting later in the day, amid optimism that the worst may be over.


Japanese equities underperformed Asian bourses as a break in the yen selling pulled them from Wednesday's four-year peak. But shorter-dated Japanese government debt rallied, sending two-year JGB yields to their lowest since September 2002 at 0.030 percent, on expectations that the central bank will cut interest rates to zero.


The yen's broad weakness has been driven by expectations for radical reflationary policy from the Bank of Japan, under Prime Minister Shinzo Abe's push for a mix of anti-deflation policies.


"Hopes for 'Abenomics' are supporting the mood, but investors are also sensitive to the currency moves, so right now, even small uncertainty on Europe can be a reason to pull back," said Hiroichi Nishi, an assistant general manager at SMBC Nikko Securities.


Japan's Nikkei stock average <.n225> fell 0.8 percent, as investors took profits on export-driven firms. The benchmark closed at its highest level since October 2008 the day before when the yen slipped to fresh lows. <.t/>


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was down 0.1 percent near a one-week low, after reaching a 18-month high on Monday. Asia tracked overnight lackluster U.S. stocks, with Standard & Poor's 500 Index <.spx> ending nearly flat after a five-year high earlier in the week.


Australian shares gained 0.3 percent, outperforming their Asian peers, on a rise in iron ore prices supporting the top miners and on higher earnings from National Australia Bank and Telstra Corp. Australian jobs data for January beat market expectations.


Recent data suggesting a moderate global economic recovery, even if it lacked strong momentum, underpinned industrial metals, keeping London copper prices near four-month highs and platinum and palladium near their highest level in 17 months on hopes of a better demand.


Data from deflation-swamped Japan was also positive, with the country's core machinery orders surging unexpectedly in December for a third straight month of increases and firms expect more improvement in the first quarter.


But analysts said Asian economies were still relying on exports to power their way to growth.


"One of the pillars of our bullish view on Asian currencies at the start of the year was the theme of global rebalancing, in which Asian economies would move away from export-dependent growth models towards a more domestic demand-driven model, allowing their currencies to appreciate to dampen their export competitiveness in favor of stronger terms of trade," said Morgan Stanley in a research note.


"However, Asian economies have been slower in the rebalancing process than we had envisioned, as seen by the heavy physical and verbal FX intervention this year."


FATE OF DRAGHI MAGIC


Growing optimism that the euro zone economy may be nearing a bottom has propelled the euro to a 14-1/2-month high against the dollar, a 34-month peak against the yen and 15-month top on sterling.


The ECB is expected to keep interest rates at a record low 0.75 percent at later on Thursday. Traders will focus on any comments about the euro's recent strength as well as the bank's view on the euro zone economy.


Vassili Serebriakov, strategist at BNP Paribas, said the ECB will likely reason that the euro's strength is due to real improvement in the financial markets and economic outlook, and thus does not warrant immediate action.


"That said, our economists suggest that Mr. Draghi will probably soften the overall tone at the press conference, signaling that easing options are still available if needed," Serebriakov wrote in a client note.


Draghi's strong verbal commitment to defend the euro and the ECB's new bond-buying scheme to help ease funding strains in highly indebted euro zone members had significantly reduced risks of the region crumbling under the weight of its debt woes.


But a corruption scandal in Spain and uncertainty over the outcome of an Italian election later this month brought market focus back to the region's potential political instability.


Later on Thursday, Spain will test investor appetite by offering up to 4.5 billion euros of bonds.


The euro eased 0.1 percent to $1.3505. It hit a 14-1/2-month high against the dollar of $1.3711 last week and a 34-month peak against the yen of 127.71 on Thursday.


The dollar eased 0.2 percent to 93.45 yen after touching 94.075 yen, its highest since May 2010 on Wednesday. The euro fell 0.3 percent at 126.17 yen, off Wednesday's 127.71 yen, its strongest since April 2010.


U.S. crude rose 0.2 percent to $96.81 a barrel.


(Additional reporting by Ian Chua in Sydney and Ayai Tomisawa in Tokyo; Editing by Sanjeev Miglani)



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Tunisian government dissolved after critic's killing causes fury


TUNIS (Reuters) - Tunisia's ruling Islamists dissolved the government and promised rapid elections in a bid to restore calm after the killing of an opposition leader sparked the biggest street protests since the revolution two years ago.


The prime minister's announcement late on Wednesday that an interim cabinet of technocrats would replace his Islamist-led coalition came at the end of a day which had begun with the gunning down of Chokri Belaid, a left-wing lawyer with a modest political following but who spoke for many who fear religious radicals are stifling freedoms won in the first of the Arab Spring uprisings.


During the day, protesters battled police in the streets of the capital and other cities, including Sidi Bouzid, the birthplace of the Jasmine Revolution that toppled Zine al-Abidine Ben Ali in January 2011.


In Tunis, the crowd set fire to the headquarters of Ennahda, the moderate Islamist party which won the most seats in an legislative election 16 months ago.


Calls for a general strike on Thursday could bring more trouble though Belaid's family said his funeral, another possible flashpoint, might not be held until Friday.


Prime Minister Hamdi Jebali of Ennahda spoke on television on Wednesday evening to declare that weeks of talks among the various political parties on reshaping the government had failed and that he would replace his entire cabinet with non-partisan technocrats until elections could be held as soon as possible.


It followed weeks of deadlock in the three-party coalition. The small, secular Congress for the Republic, whose leader Moncef Marzouki has served as Tunisia's president, threatened to withdraw unless Ennahda replaced some of its ministers.


Wednesday's events, in which the Interior Ministry said one police officer was killed, appeared to have moved Jebali, who will stay on as premier, to take action.


"After the failure of negotiations between parties on a cabinet reshuffle, I have decided to form a small technocrat government," he said.


"The murder of Belaid is a political assassination and the assassination of the Tunisian revolution," he said earlier.


It was not clear whom he might appoint but the move seemed to be widely welcomed and streets were mostly calm after dark.


A leader in the secular Republican Party gave Jebali's move a cautious welcome.


"The prime minister's decision is a response to the opposition's aspirations," Mouldi Fahem told Reuters. "We welcome it principle. We are waiting for details."


Beji Caid Essebsi, leader of the secular party Nida Touns, who was premier after the uprising, told Reuters: "The decision to form a small cabinet is a belated move but an important one."


DIVISIONS


The widespread protests following Belaid's assassination showed the depth of division between Islamists and secular movements fearful that freedoms of expression, cultural liberty and women's rights were under threat just two years after the popular uprising ended decades of Western-backed dictatorship.


"This is a black day in the history of modern Tunisia. Today we say to the Islamists, 'get out', enough is enough," said Souad, a 40-year-old schoolteacher outside the ministry.


"Tunisia will sink in blood if you stay in power."


Ennahda, like its fellow Islamists in Egypt's Muslim Brotherhood, benefited from a solid organization that survived repression by the old regime.


And as in Egypt, the Islamists have faced criticism from secular leaders that they are trying to entrench religious ideas in the new state. A constitution is still due to be agreed before a parliamentary election which had been expected by June.


Belaid, 48, was shot at close range as he left for work by a gunmen who fled on the back of a motorcycle. Within hours, crowds were battling police, hurling rocks amid volleys of tear gas in scenes reminiscent of clashes in Egypt last month.


World powers, increasingly alarmed at the extent of radical Islamist influence and the bitterness of the political stalemate, urged Tunisians to reject violence and see through the move to democracy they began two years ago, when their revolution ended decades of dictatorship and inspired fellow Arabs in Egypt and across North Africa and the Middle East.


As in Egypt, the rise to power of political Islam through the ballot box has prompted a backlash among less organized, more secular political movements in Tunisia. Belaid, who made a name for himself by criticizing Ben Ali, led a party with little electoral support but his vocal opinions had a wide audience.


The day before his death he was publicly lambasting a "climate of systematic violence". He had blamed tolerance shown by Ennahda and its two, smaller secularist allies in the coalition government toward hardline Salafists for allowing the spread of groups hostile to modern culture and liberal ideas.


On Wednesday, thousands demonstrated in cities including Mahdia, Sousse, Monastir and Sidi Bouzid, the cradle of the revolution, where police fired tear gas and warning shots at protesters who set cars and a police station on fire.


While Belaid's nine-party Popular Front bloc has only three seats in the constituent assembly, the opposition jointly agreed to pull its 90 or so members out of the body, which is acting as parliament and writing the new post-revolution charter. Ennahda and its fellow ruling parties have some 120 seats.


Since the uprising, Tunisia's new leaders have faced many protests over economic hardship and political ideas; many have complained that hardline Salafists may hijack the revolution.


Last year, Salafist groups prevented several concerts and plays from taking place in Tunisian cities, saying they violated Islamic principles. Salafists also ransacked the U.S. Embassy in September, during international protests over an Internet video.


The embassy issued a statement condemning Belaid's killing and urging justice for his killers: "There is no justification for this heinous and cowardly act," it said. "Political violence has no place in the democratic transition in Tunisia."


ECONOMIC TROUBLES


Declining trade with the crisis-hit euro zone has left the 11 million Tunisians struggling to achieve the better living standards many had hoped for following Ben Ali's departure.


Its compact size, relatively skilled workforce and close ties with former colonial power France and other European neighbors across the Mediterranean has raised hopes that Tunisia can set an example of economic progress for the region.


Lacking the huge oil and gas resources of North African neighbors Libya and Algeria, Tunisia counts tourism as a major currency earner and further unrest could scare off visitors vital to an industry only just recovering from the revolution.


Jobless graduate Mohamed Bouazizi set himself on fire in December 2010 in the city, 300 km (180 miles) southwest of Tunis, after police confiscated his unlicensed fruit cart, triggering the uprising that forced Ben Ali to flee to Saudi Arabia less than a month later, on January 14, 2011.


President Moncef Marzouki, who last month warned the tension between secularists and Islamists might lead to "civil war", cancelled a visit to Egypt scheduled for Thursday and cut short a trip to France, where he addressed the European Parliament.


"There are political forces inside Tunisia that don't want this transition to succeed," Marzouki said in Strasbourg. "When one has a revolution, the counter revolution immediately sets in because those who lose power - it's not only Ben Ali and his family - are the hundreds of thousands of people with many interests who see themselves threatened by this revolution."


Belaid, who died in hospital, said this week dozens of people close to the government had attacked a Popular Front group meeting in Kef, northern Tunisia, on Sunday. He had been a constant critic of the government, accusing it of being a puppet of the rulers of wealthy Gulf emirate Qatar.


DENIES INVOLVEMENT


Human Rights Watch called his murder "the gravest incident yet in a climate of mounting violence".


Ennahda leader Rached Ghannouchi denied any involvement by his party in the killing.


"Is it possible that the ruling party could carry out this assassination when it would disrupt investment and tourism?" Ghannouchi told Reuters.


He blamed those seeking to derail Tunisia's democratic transition: "Tunisia today is in the biggest political stalemate since the revolution. We should be quiet and not fall into a spiral of violence. We need unity more than ever," he said.


He accused opponents of stirring up sentiment against his party following Belaid's death. "The result is burning and attacking the headquarters of our party in many areas," he said.


Witnesses said crowds had also attacked Ennahda offices in Sousse, Monastir, Mahdia and Sfax.


French President Francois Hollande said he was concerned by the rise of violence in Paris's former dominion, where the government says al Qaeda-linked militants linked to those in neighboring countries have been accumulating weapons with the aim of creating an Islamic state across North Africa.


"This murder deprives Tunisia of one of its most courageous and free voices," Hollande's office said in a statement.


(Additional reporting by John Irish in Paris; Writing by Alison Williams and Alastair Macdonald; Editing by Giles Elgood)



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Timothy Geithner’s new book: Twitter’s funniest title suggestions






From Crime and No Punishment to The Stock Market Corrections


Former Treasury Secretary Timothy Geithner plans to write a book about his time in government, with a focus on “how to fight global financial crises,” according to Zachary Goldfarb at The Washington Post. Geithner was at the front line of the government’s response to the financial crisis, first as the president of the Federal Reserve Bank of New York under President Bush, then as head of the Treasury under President Obama. His legacy has been hotly debated, with some crediting Geithner with rescuing the financial system, and others accusing him of coddling the big banks. And nowhere was that divide so succinctly reflected, with some snark thrown into the mix, than on Twitter today, as analysts and journalists suggested book titles under the hashtag #Geithnerbooktitles. Here, some of the best:







Portrait of the TARPist as a Young Man #geithnerbooktitles



SEE ALSO: Making money: House hunting 101, and more


— NickBaumann (@NickBaumann) February 6, 2013



The AIG of Innocence #geithnerbooktitles



— Jim Aley (@jimaley) February 6, 2013



No Country for Old Mortgages #geithnerbooktitles



SEE ALSO: Is there a future for Apple’s iTunes store?


— Michael Roston (@michaelroston) February 6, 2013



The World According to TARP #geithnerbooktitles



— Ben White (@morningmoneyben) February 6, 2013



Too Big To Fail AND ZOMBIES #geithnerbooktitles



SEE ALSO: The middling January unemployment report: When will Congress focus on jobs?


— John Carney (@carney) February 6, 2013



Crime and No Punishment #geithnerbooktitles



— Matt Yglesias (@mattyglesias) February 6, 2013



A Tale of Two Citis #GeithnerBookTitles



SEE ALSO: Today in business: 5 things you need to know


— Stefan Becket (@stefanjbecket) February 6, 2013



The Stock Market Corrections #geithnerbooktitles



— Paul R. La Monica (@LaMonicaBuzz) February 6, 2013


Honorary mention: Charles Gasparino at Fox Business Network, for going on an alternately hilarious and ridiculous anti-Geithner rant:



#Geithnerbooktitles: how i wasted 4 years of my life; whats its like to take orders from a community activist; why didnt i go to law school



SEE ALSO: Dell goes private in $ 24 billion deal: Smart move?


— Charles Gasparino (@CGasparino) February 6, 2013



#Geithnerbooktitles @cgasparino: how to screw up a perfectly good bailout; unemployment never felt so good; i hate @cgasparino



— Charles Gasparino (@CGasparino) February 6, 2013



@cgasparino #Geithnerbooktitles: how i threw tony james resume in the garbage; why cnbc is always the last to find out stuff



SEE ALSO: Beer-opoly: Should the Justice Department scuttle the Budweiser-Corona deal?


— Charles Gasparino (@CGasparino) February 6, 2013



#geithnerbooktitles cgasparino @thestalwart what i saw at the (socialist) revolution; how did i get myself in this mess;



— Charles Gasparino (@CGasparino) February 6, 2013



#geithnerbooktitles 50 shades of Vomit; how to foolreporters to think high unemployment is great and get ur guy re elected



SEE ALSO: Barnes & Noble and the end of the mega-bookstore


— Charles Gasparino (@CGasparino) February 6, 2013


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American Idol: It's a Guys' Night in Hollywood






American Idol










02/06/2013 at 11:00 PM EST







From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban


George Holz/FOX


Caution: Contains spoilers!

"It does feel a bit like The Hunger Games," said Keith Urban, ramping up the drama as American Idol kicked off the first day of Hollywood Week. Although producers didn't unleash any tracker jackers on the contestants, they did throw in a couple unexpected twists: This season the week started off as a guys-only competition (the girls arrive in Hollywood next week), and after surviving a round of sudden death solo sing-offs, contestants would then be put into groups from which they couldn't escape.

During the solo round, the standouts included two memorable contestants from the nationwide auditions. First up, Navy man Micah Johnson, who developed a speech impediment after suffering through a botched surgery to remove his tonsils. After a rousing rendition of Elton John's "Bennie and the Jets," Johnson was the first to get the green light to the next round.

Joining him soon after was Cuban-American Lazaro Arbos, a 21-year-old ice cream scooper from Naples, Fla., who speaks with a severe stutter but sings with ease. Although Arbos admitted to being both "scared" and "petrified," he quickly won the judges over – Nicki Minaj made her fingers into a heart-shape while he sang – with his take on the Robbie Williams hit, "Angels."

When it came time to form groups of four, the Idol producers threw a few more curveballs – such as pairing a couple of country crooners with two flamboyant (think glitter and faux fur) dudes Ryan Seacrest described as the show's "resident divas."

The result: a quartet that dubbed themselves Country Queen, which delivered a train wreck of a performance. Still, somehow three of the four made it through.

Meanwhile, Arbos's group experience also proved to be a bit of a disaster – which some of his cohorts blamed on his inability to quickly learn the lyrics and melody to the Beach Boys hit "Wouldn't It Be Nice." Although his main nemesis got the boot, a tearful Arbos got the chance to sing another day.

The day of auditions came to a close with what was possibly the most heartbreaking Idol exit ever. New York City subway singer Frankie Ford got a case of the jitters before going on stage, then proceeded to screw up the lyrics and sing off key – leaving the judges no choice but to pull the plug on his dreams. Before walking off into the night, a sobbing Ford stared into the camera and said, "I swear to God I'm coming back next year and I'm going to win."

There will be more solos Thursday (8 p.m. ET), as the judges have to whittle the 43 men left in the competition down to 20 lucky fellas.

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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.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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Asian shares recover on firm euro zone data, yen slips

TOKYO (Reuters) - Asian shares recovered on Wednesday as solid euro zone data calmed nerves jarred by potential political turmoil in Spain and Italy, while the prospect of a dovish new governor for the Bank of Japan dragged the yen to a new low.


Sentiment for other risk assets also improved, pushing London copper up 0.4 percent to $8,302.75 a tonne to a near four-month high, while Brent crude hovered near a 20-week high. Signs of recovery taking root in Europe, the United States and China have helped improve the demand outlook.


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.3 percent, tracking an overnight gain in global equities on data showing the U.S. services sector extended a three-year expansion in January and business activity in the euro zone climbed to a 10-month high last month.


The Standard & Poor's 500 Index <.spx> and the Nasdaq Composite Index <.ixic> gained over 1 percent.


In Asia, investors have been quick to book profits as prices approached their highs, but analysts and traders say any dip was likely to be seen as a chance to buy back into the market.


The pan-Asian index scaled a 18-month high on Monday, and was up about 2.3 percent so far this year, considerably modest compared to the S&P's nearly 6 percent gain in the same period.


Australian shares <.axjo> jumped 0.9 percent, leading the regional peers.


"We're following on from a pretty good lead from global markets last night," said Steve Daghlian, market analyst at Commonwealth Securities, of Australian equities.


Brent crude was up 0.2 percent to $116.72 a barrel while U.S. crude was barely changed at $96.64.


Japanese equities and government bonds rose while the yen touched fresh lows on expectations for stronger reflationary policies from the BOJ.


The dollar touched 93.91 yen to its highest since May 2010, while the euro also rose to 127.65 yen, its loftiest since April 2010. The Aussie reached a 4-1/2 year peak around 97.42 yen. The pound touched a 3-year high near 147.25 yen.


Yen selling resumed after Bank of Japan Governor Masaaki Shirakawa said he would step down on March 19, three weeks earlier than the official end of his five-year term, leaving at the same time as his two deputies, and raising the prospect that the next BOJ governor will more readily adopt the expansionist monetary policy demanded by Prime Minister Shinzo Abe.


"The Bank of Japan is about to get a lot more dovish, and sooner than previously thought," said Christopher Vecchio, a currency analyst at DailyFX.


Japan's benchmark Nikkei stock average <.n225> soared 3.1 percent to a 33-month high. <.t/>


"I think the market could yet rise when they announce the new governor's name, particularly if it makes an asset purchase budget of 50 trillion yen ($535 billion) from the BOJ more likely," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley.


The 10-year JGB yield fell 1.5 basis points to 0.775 percent after opening higher, at 0.800 percent.


The euro drew support from growing confidence in the region's economy and improving funding conditions for deeply-indebted euro zone members.


News the European Central Bank's balance sheet fell to an 11-month low of 2.8 trillion euros ($3.8 trillion) as markets unwound some of the ECB's crisis funding measures underpinned the euro, coming in stark contrast to the U.S. Federal Reserve and the BOJ which keep expanding asset buying.


"Flows matter more than stock in currency markets when comparing central bank balance sheets ... highlighting the euro's outperformance over the last few months," said Ashraf Laidi, chief global strategist at City Index, in a note to clients.


The euro was steady at $1.3578, above a key technical support of its 14-day moving average at $1.34653.


The ECB is expected to keep interest rates unchanged at its policy meeting on Thursday, but its president may face a grilling over an Italian banking scandal.


Spanish and Italian yields fell on Tuesday after jumping on worries over a corruption scandal in Spain and polls showing Italy's former prime minister Silvio Berlusconi regaining ground before elections this month.


The yen's fall lifted benchmark Tokyo gold futures to a record high of 5,067 yen per gram on Wednesday.


(Additional reporting by Ian Chua and Thuy Ong in Sydney and Ayai Tomisawa and Sophie Knight in Tokyo; Editing by Sanjeev Miglani)



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Stabbing at Ecuador campaign rally not politically motivated: Correa


QUITO (Reuters) - A knife attack in Ecuador that killed two government supporters was perpetrated by a man under the influence of drugs and alcohol and was not politically motivated, President Rafael Correa said on Tuesday.


The man killed two Correa supporters and injured five more at a campaign rally on Monday, about two weeks before a presidential election that the leftist leader is expected to win comfortably.


"There is no indication that this attack may have been politically motivated. It was a person who was temporarily insane and stabbed the people that he found in his way," Correa said at a press conference in Quito. "This person was under the influence of drugs and alcohol."


A 40-year-old man with a criminal record who had spent time at a drug rehab center was detained shortly after the attack and is in police custody.


Correa said that five people were injured, one more than the number previously given by authorities.


Such incidents are exceedingly rare in Ecuadorean political campaigns despite historically volatile politics in which presidents have been toppled during street protests.


It was the first significant act of violence in a presidential race that officially started on January 4.


In a chilling video broadcast on local TV networks, a man could be seen breaking through a rally of a few hundred Correa sympathizers and attacking them with a large knife. Dozens ran for their lives while some men tried to stop the attacker.


Correa said police at the event were caught off guard. He said the attack lasted less than 20 seconds.


The incident occurred ahead of a campaign rally in Quininde, a town in the western Esmeraldas province. The event was canceled following the attack and Correa suspended his campaign on Tuesday in solidarity with the victims.


Correa, an ally of socialist Venezuelan leader Hugo Chavez, is expected to win the February 17 vote. Polls give him between 50 percent and 60 percent of votes, at least 30 percentage points ahead of his nearest rival, Guillermo Lasso, a former banker.


The president is very popular in urban shanty towns and rural areas, where millions have seen their livelihoods improved thanks to record spending in roads, hospitals and schools.


(Writing By Eduardo Garcia; Editing by Stacey Joyce)



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Microsoft defends frayed PC ecosystem with $2 billion Dell loan






SEATTLE/SAN FRANCISCO (Reuters) – Microsoft Corp is playing defense with a $ 2 billion loan to help Dell Inc’s founder buy back the world’s No.3 PC maker as it seeks to shore up support for Windows and beat back the march of Google Inc’s Android.


The investment in the landmark $ 24 billion buyout led by Michael Dell marks the latest step in Microsoft‘s plan to gain more influence over the hardware supply chain – a departure from the decades-old, software-centric philosophy that helped it dominate the computing world but is now increasingly under threat.






It is far from clear, however, if this strategy will be successful, while the world’s largest software maker risks upsetting other computer producers.


“It doesn’t mean it’s a bad move, but it’s definitely defensive. Microsoft is realizing it must be much more engaged in the hardware business than it used to be, it needs to be making bets and forming relationships,” said Andrew Bartels, an analyst at Forrester Research.


The company that built its fortune on making high-priced software to go in other companies’ computers is inching closer to Apple Inc’s belief that software and hardware must be closely integrated for the sake of the user experience.


Microsoft struck a deal to pay Nokia to make phones running Windows software in 2011 and a year later invested in Barnes & Noble‘s Nook e-reader. It then launched its own computer, the Surface tablet, in October, which rankled some PC makers initially.


In the face of declining PC sales and the onslaught of Apple‘s iPad, “Microsoft has taken more unconventional measures than they would have in the past,” said Sid Parakh, an analyst at investment firm McAdams Wright Ragen.


This time, Microsoft made extra efforts not to alienate its other PC makers, talking to them before inking the deal, said sources familiar with Microsoft‘s relations with its partners, and holding off from an ownership stake.


Microsoft reached out (at the highest levels) a bit before all of it came out,” one of the people said. “There were multiple conversations. Clearly they put some thought into it and definitely a schedule was pulled together.”


Even so, world No.1 PC maker Hewlett-Packard Co (HP) issued a statement critical of the deal.


Dell “faces an extended period of uncertainty and transition that will not be good for its customers,” HP said, adding that Dell’s ability to invest in products and services will be extremely limited with its debt load.


Lenovo Group Ltd said it remains focused on products and customers rather than “distracting financial maneuvers and major strategic shifts.”


Microsoft, advised by Lazard Ltd, declined to comment on the terms of the Dell loan, or what exactly it gets in return, but made it clear it would look for “opportunities to support” companies that buy in to Windows, in whatever form. That suggests this may not be its last third-party investment.


Still, there is no guarantee that Microsoft‘s loan will give it any sway over Dell at all. One former Microsoft executive said the deal was pointless.


“I know Michael (Dell), he will continue to run his empire the way he has always done – without any outside influence,” said Joachim Kempin, once Microsoft‘s top executive in charge of its relationships with PC makers, who left the company in 2002.


PLATFORM WARS


Chief Executive Steve Ballmer made it clear last year that he sees Microsoft as a “devices and services” company with an explicit interest in hardware, whoever it is made by.


Microsoft has every interest to keep such a key player in its ecosystem alive and well,” said Al Hilwa, an analyst at tech research firm IDC. “Dell supplies a large number of Microsoft customers with hardware, and it is important that their confidence is bolstered in the overall Microsoft ecosystem.”


Dell decided last year to focus its tablet strategy on the new Windows 8 operating system, in contrast to rivals such as Samsung, Asus and Lenovo, which are hedging or leading with Google‘s Android system, and HP which said this week it would make a Google Chromebook.


Dell did experiment with Android with its Streak tablet in 2010, but it flopped.


“This investment might help Microsoft influence whether Dell adopts Android or not, that is likely the goal behind this,” said Parakh.


The loan, negotiated by Microsoft‘s Chief Financial Officer Peter Klein, takes the form of a 10-year subordinated note and will pay 7 percent to 8 percent interest, according to sources familiar with the deal.


It is not clear how much sway Microsoft will have on Dell’s strategy, but the two have been close partners for 25 years, and will likely build on that.


“I don’t think Microsoft is going to run Dell at any time or have a dispositive say in what Dell does,” said one source familiar with Microsoft‘s thinking, who asked not to be named. “Microsoft wants to continue to have a strong and ever deepening relationship with Dell and you can take it as the expectation on both sides.”


PCs are clearly in decline, with sales falling last year for the first time in a decade as the popularity of tablets surges.


Some analysts suggest Microsoft got involved in the deal to learn more from Dell about selling to businesses and individuals.


“Dell is one of the best at building hardware and putting an operating system on it,” said Michael Cherry, an analyst at Directions on Microsoft, an independent consultancy.


With the rise of Google trying to sell into enterprises, it should help Microsoft to have some influence over one of the largest IT vendors, said Parakh.


Microsoft has not always been successful in its tech investments.


Its multi-billion dollar bets on cable firms AT&T Inc and Comcast Corp in the late 1990s did not yield success. Its $ 150 million in a struggling Apple in 1997 ended a long-running patent spat between the two companies, but saved Apple and put it on course to eclipse Microsoft financially.


Apple is the model, and Microsoft can’t become Apple overnight,” said Bartels at Forrester. “But it needs to have really good partners.”


(Additional reporting by Greg Roumeliotis, Poornima Gupta, Nadia Damouni; Editing by Ryan Woo)


Wireless News Headlines – Yahoo! News





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