Most ‘spent less on Christmas’







A majority of consumers spent less on their Christmas shopping this year than they did in 2011, according to a survey by the consumers’ association Which?






Nearly half used credit cards, overdrafts and other borrowing to help fund their purchases, the survey of 2,100 people across the UK suggests.


Nine out of 10 agreed that they felt under pressure to spend too much during the festive season.


Just under half – 46% – used some form of debt to help them meet their bills.


Nearly a quarter claimed they would not otherwise have been able to afford their Christmas shopping.


Credit cards were the most popular form of borrowing, although a substantial proportion also relied on authorised overdrafts from their banks.


A majority reported they had found the Christmas period financially tougher than last year, and more than half of those questioned also said that they had cut back on their seasonal spending.


Continue reading the main story

Most of us like to splash out on family and friends at this time of year, so the news that millions of people have drastically cut back on Christmas spending or taken out loans to cover Christmas costs shows just how squeezed household budgets are right now”



End Quote Richard Lloyd Which?


However, the message from the retail industry so far is that Christmas sales were acceptable, and may have been a little higher than last year.


The survey suggested 54% of consumers expected their Christmas budgets to be even tighter next year.


The average amount put on credit was £301, while for those who went into their savings, the average was £380.


Around 12% of consumers used authorised overdrafts, 8% spent on store cards and 5% simply borrowed money from friends or family.


Nearly half (48%) of those asked said they did not buy as much food and 45% bought less high quality food than last year because of increasing food prices.


Which? executive director Richard Lloyd said: “Most of us like to splash out on family and friends at this time of year, so the news that millions of people have drastically cut back on Christmas spending or taken out loans to cover Christmas costs shows just how squeezed household budgets are right now.


“It also shows how far we are from a consumer spending-led economic recovery.”


BBC News – Business





Title Post: Most ‘spent less on Christmas’
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Media advisory/REMINDER: Canada’s Economic Action Plan






OTTAWA, ONTARIO–(Marketwire – Dec 30, 2012) – Dr. Kellie Leitch, Parliamentary Secretary to the Minister of Human Resources and Skills Development and the Minister of Labour, will make an important announcement related to victims of crime.


Dr. Leitch will be available for a photo op and to answer questions from the media following the announcement.






Please note that all details are subject to change. All times are local.  


















DATE:Sunday, December 30, 2012
  
TIME:11:00 a.m.
  
PLACE:Victims of Violence
 Canadian Centre For Missing Children
 340-117 Centrepointe Drive
 Ottawa, Ontario

Marketwire News Archive – Yahoo! Finance





Title Post: Media advisory/REMINDER: Canada’s Economic Action Plan
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Michigan State edges TCU 17-16 in BWW Bowl


TEMPE, Ariz. (AP) — Michigan State labored on offense throughout the first half, unable to get anything going on the ground, in the air, anywhere.


For a team that had lost five games by a combined 13 points during the regular season, it was starting to feel familiar.


The Spartans changed their luck by turning to brutally effective running back Le'Veon Bell in the second half, setting up Dan Conroy for another game-winning kick in a bowl game.


Bell ran for 145 yards and a fourth-quarter touchdown, Conroy kicked a 47-yard field goal with 1:01 left and Michigan State rallied to beat Texas Christian 17-16 in the Buffalo Wild Wings Bowl on Saturday night.


"With so many close games and losing like we did during the season, to have one go our way was definitely sweet," Conroy said.


It wasn't always pretty for the Spartans.


Michigan State (7-6) managed 76 yards of offense during the first two quarters as TCU bottled up Bell.


The 237-pound junior started to wear down the Horned Frogs in the second half, grinding out 107 of his yards on a 32-carry night.


Behind Bell, the Spartans went on the longest drive in their bowl history in the third quarter, marching 90 yards to set up freshman Connor Cook's 15-yard touchdown pass to Aaron Burbridge.


Michigan State then recovered a muffed punt by TCU's Skye Dawson at the 4-yard line midway through the fourth and Bell scored two plays later by racing around left end for a 14-13 lead.


TCU (7-6) still had a little life after blowing a 13-point halftime lead, moving just far enough to set up Jaden Oberkrom for the longest field goal in the bowl's history, a 53-yarder that put the Horned Frogs up 16-14 with 2:42 left.


They just left Michigan State too much time.


Starting at their own 25-yard line, the Spartans moved 45 yards in eight plays, setting up Conroy for his second game-winner in a bowl after beating Georgia with a 28-yarder in the third overtime of the 2012 Outback Bowl.


Michigan State's defense held after that, sending the Spartans to their second straight bowl win after three consecutive losses.


"There was no doubt in my mind that after so many losses in similar fashion that we were going to come out on top in this one," Spartans linebacker Max Bullough said.


The Horned Frogs shut down Michigan State's offense in the first half and did just enough when they had the ball to put together three scoring drives.


In the second half, TCU couldn't get anything going against the Spartans' defense — 84 total yards — and its defense gave up the long scoring drive in the third quarter, along with the game-winner in the fourth.


Trevone Boykin threw for 201 yards and an interception on 13-of-29 passing for the Horned Frogs.


"A little bit empty feeling inside because we felt like we left a lot on the field," TCU coach Gary Patterson said.


TCU and Michigan State came to the desert with an awful lot of similarities.


The Horned Frogs opened their first season in the Big 12 with four straight wins before losing four of their final six games. Michigan State started 4-2, then lost four of six down the stretch.


Michigan State had the nation's fourth-best defense and was 10th in scoring defense during the regular season. TCU was 18th in total defense and 10th against the run.


Michigan State quarterback Andrew Maxwell was up-and-down in his first season as Kirk Cousins' replacement, throwing 13 touchdown passes and nine interceptions. Boykin took over after four games for Casey Pachall, who was suspended and later left the team, and threw for 15 touchdowns and nine interceptions.


The biggest difference between the teams was Bell.


He ranked third nationally with 137.3 yards rushing per game and had 1,648 on the season, second-most in Michigan State history and 242 fewer than TCU had as a team.


Early on, the Horned Frogs gave him nowhere to go.


Filling holes inside and stringing plays out toward the sidelines, TCU stuffed the bruising Bell on nearly every touch, holding him to 38 yards on 11 carries in the first half.


Of course, it didn't seem to matter what Michigan State did. The Spartans had 29 yards on 12 plays in the first quarter and weren't a whole lot better in the second, with Maxwell throwing two near-interceptions on consecutive passes and an ill-advised trick play that probably should have resulted in a turnover, too.


The Spartans still seemed to be stuck in the ruts in the third quarter before grinding out a 14-play scoring drive led by Cook, who replaced Maxwell for the second time in the game. They had their biggest play on a floating pass from Bell to fullback TyQuan Hammock (29 yards), then Cook threw his first career touchdown pass, a 15-yarder to Burbridge on a crossing route that cut TCU's lead to 13-7.


"I thought Connor did a good job on the 90-yard drive, gave us a little momentum," Spartans coach Mark Dantonio said.


TCU didn't exactly have its way with Michigan State's defense in the first half and missed some chances to build a bigger lead.


The Frogs started gashing the Spartans for decent-sized chunks with their option midway through the first quarter, setting up Matthew Tucker's 4-yard touchdown on an end-around.


Boykin had an impressive off-the-back-foot throw to freshman Kolby Listenbee for 59 yards on the last play of the first quarter and nearly had a 19-yard touchdown pass to open the second, but LaDarius Brown was bumped and dropped the ball in the end zone. Oberkrom followed with a 47-yard field goal and added another from 31 yards after Boykin hit Josh Boyce on a 61-yard pass to put TCU up 13-0 at halftime.


The Frogs couldn't keep it up in the second half.


With Michigan State clogging the running lanes and chasing Boykin around, TCU had 30 yards of offense in the third quarter and continued to struggle in the fourth. The Horned Frogs did manage the short scoring drive to set up Oberkrom's late field goal, but ended up going backward on their final drive after Conroy's kick.


"What I thought happened in the third quarter was Michigan State dialed up the heat and we didn't have an answer," Patterson said.


Michigan State did — for one of the few times this season.


Read More..

2013: Energy issues on front burner




From left, John Krasinski, Gus Van Sant and Matt Damon promote what Sheril Kirshenbaum says will be a controversial film.




STORY HIGHLIGHTS


  • Public attitudes shifted on key energy issues in 2012

  • Sheril Kirshenbaum says controversy has grown over natural gas fracking boom

  • She says climate change, renewable energy are likely to be on agenda for 2013

  • Kirshenbaum: A turbulent year has increased public interest in energy issues




Editor's note: Sheril Kirshenbaum is an author and director of The University of Texas at Austin's Energy Poll.


(CNN) -- After a year of tumultuous weather and global change, it should not be surprising that 2012 proved to be a transformative period for public opinion on energy.


Changing attitudes on the most hotly debated topics matter a great deal because they set the course for future policy decisions. Taking a closer look at trends over the past 12 months hints at what to expect in several key areas of the U.S. energy landscape in 2013.



Sheril Kirshenbaum

Sheril Kirshenbaum



Natural gas boom -- and controversy


Hydraulic fracturing, also known as "fracking," has been around for more than half a century, but recently expanded rapidly because of advances in horizontal drilling deep underground.


Despite this proliferation of new wells, 59% of Americans say they are unfamiliar with the term, down from 63% in March, according to the latest findings from the University of Texas at Austin's Energy Poll.





CNN Opinion contributors weigh in on what to expect in 2013. What do you think the year holds in store? Let us know @CNNOpinion on Twitter and Facebook/CNNOpinion


Although the majority still does not seem to know much about fracking, a deluge of media attention to this controversial extraction technology has likely raised its profile significantly since last year.


However, increased awareness is not synonymous with public approval. Among those familiar with hydraulic fracturing, support decreased from 48% to 41% over six months. Similarly, a December poll by Bloomberg reported that 66% of Americans would like greater government oversight of the process, up from 56% in September.










When Matt Damon's new film "Promised Land" debuts in January, expect public recognition and heated debate over hydraulic fracturing to rise further.


Climate change gets real


When Gov. Mitt Romney quipped, "President Obama promised to begin to slow the rise of the oceans" at the 2012 Republican National Convention, his audience burst into laughter. During the debates that followed, neither party's nominee mentioned climate change once as a policy priority.


Weeks later, Superstorm Sandy ravaged the Northeastern United States, flooding many parts of New York City, New Jersey and other regions along the Atlantic Coast. Both candidates immediately canceled campaign events in the wake of the storm and Mayor Michael Bloomberg endorsed President Obama, citing his commitment to tackling climate change. After a summer of record-breaking drought followed by this single powerful hurricane in a major metropolitan area, attitudes shifted.


In March, 65% of Americans surveyed said they thought that climate change was occurring. By September, after the summer drought, that number reached 73%, with the greatest gains among Republicans and independent voters. Earlier this month, The Associated Press-GfK poll followed up, reporting that after Sandy, 78% of Americans now say global temperatures are rising.


Because weather can influence opinions on climate change, it's possible that a wet and stormy winter -- ironically, also exacerbated by climate change -- could push attitudes in the other direction. Regardless, in 2013 expect to hear less argument about whether the Earth is warming and a more serious policy discussion by elected officials across levels of government about how we might mitigate the effects of rising seas, changing ocean acidity, agricultural uncertainty and extreme weather events.


Renewables gain ground


Renewable energy technologies have been available for decades, but 2012 may have been the tipping point for their wider adoption. There has been a significant increase in the percentage of Americans who say they are likely to buy hybrid or electric vehicles or use "smart" electric meters within the next five years. Most notably, between September 2011 and September 2012, the percentage of Americans who say they are likely to install solar panels at home increased from 21% to 28%.


These trends may reflect changing attitudes on climate, media attention to energy during the election cycle, rising gas prices or cheaper, widely advertised new alternatives. Most likely, it's a combination of all these.


What's clear is that we are now on the cusp of a renewables revolution with greater options and cost-saving technologies than ever. They are finally becoming more affordable, reliable and practical, with solar power at the helm. Still, it's important to note that as we ring in 2013, China, not the United States, has taken the lead on renewables.


The big picture


Polls tell the story of how attitudes are shifting, but short of having a crystal ball, there is no way to unequivocally predict what major world events will influence our nation's energy future. For example, another nuclear disaster or offshore oil spill could play an enormous role in shaping the next generation of energy priorities.


What can we count on in 2013?


In the past year, the percentage of Americans saying they consider themselves knowledgeable on how energy is produced, delivered and used has increased from 24% to 33%. More are likely to seek added information about reducing their own energy use and a higher percentage rate energy issues as important to them.


Amid economic uncertainty, volatile prices and global unrest, Americans are paying closer attention to the energy decisions that affect us all.


Follow @CNNOpinion on Twitter


Join us at Facebook/CNNOpinion


The opinions expressed in this commentary are solely those of Sheril Kirshenbaum.






Read More..

Stahl arrested for investigation of lewd conduct






LOS ANGELES (AP) — Los Angeles police say actor Nick Stahl has been arrested for investigation of lewd conduct.


The 33-year-old “Terminator 3″ star was arrested about 8 p.m. Thursday on Hollywood Boulevard. He was booked on a misdemeanor count of lewd conduct and released from custody.






The Los Angeles Times reports (http://lat.ms/YU6uBO) that Stahl was arrested at an adult movie shop during a routine undercover police operation.


In May, Stahl had been reported missing by his wife, but he later turned up.


Stahl was a child star who performed in the 1993 film “The Man Without a Face.” He also has appeared in the 2003-2005 HBO series “Carnivale’” and starred in “Mirrors 2″ in 2010. An email seeking comment from his publicist was not immediately returned Friday.


___


Information from: Los Angeles Times, http://www.latimes.com


Entertainment News Headlines – Yahoo! News





Title Post: Stahl arrested for investigation of lewd conduct
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Obama ‘optimistic’ on cliff deal









US President Barack Obama: “An agreement is being discussed as we speak”



US President Barack Obama says he is “modestly optimistic” that a deal to avoid the “fiscal cliff” is possible, after a last-ditch White House meeting.


Mr Obama said Senate leaders were working to craft a bill that could win approval in both chambers of Congress.


But if a compromise was not reached, the president said he would ask for a quick vote on preventing tax rises.


Congress has only four days to reach an agreement before across-the-board tax rises and spending cuts take effect.


Analysts say sliding over the so-called “cliff” could tip the US into recession and set back the global economic recovery.


If Senate majority leader Harry Reid and minority leader Mitch McConnell do not work out a deal, Mr Obama is seeking a vote to prevent tax rises on incomes up to $ 250,000 (£150,000) and ensure unemployment insurance is continued.


He described that as the “bare minimum” Congress should get done before 1 January.


“The hour for immediate action is here, it is now,” Mr Obama said.


‘Imperfect’ deal


Earlier on Friday, Mr Obama met Mr Reid, Mr McConnell, House Speaker John Boehner and House minority leader Nancy Pelosi at the White House for just over an hour.


Continue reading the main story

Start Quote



“The American people are watching what we do here – obviously their patience is already thin”



End Quote Barack Obama


Mr McConnell and Mr Reid said they were entering talks shortly after the meeting, and gave relatively upbeat assessments on their task.


Mr McConnell said he was “hopeful and optimistic” that he could present a comprise to his caucus by Sunday, just over 24 hours before the deadline.


His Democratic counterpart said he would “do everything I can” to make the deal happened.


But Mr Reid cautioned that “whatever we come up with is going to be imperfect”.


The renewed effort towards a Senate deal that could pass both chambers comes after much of the focus in negotiations rested on House Speaker John Boehner.


An alternative plan proposed by Mr Boehner – which would have seen taxes rise only on those earning over $ 1m – failed in the House of Representatives late last week.


Continue reading the main story

What is the fiscal cliff?


  • On 1 January 2013, tax increases and huge spending cuts are due to come into force – the so-called fiscal cliff

  • Deadline was put in place in 2011 to force president and Congress to agree ways to save money over the next 10 years

  • Fear is that raising taxes while massively cutting spending will have huge impact on households and businesses

  • Experts believe it could push the US into recession, and have a global impact on growth


Mr Boehner has called the lower chamber into session on Sunday. A staff member in the house speaker’s office told Reuters that the House would consider Senate legislation.


“The Speaker told the president that if the Senate amends the House-passed legislation and sends back a plan, the House will consider it – either by accepting or amending,” the unnamed aide said.


Mr Obama’s plans to increase taxes on the wealthiest Americans have remained a point of division between the two parties since he won re-election in November.


Many Republicans oppose new taxes as a matter of principle, and are demanding cuts to what they see as deficit-inflating public spending, putting at risk healthcare and welfare benefit schemes popular with Democrats.


During the news conference on Friday, Mr Obama said any last minute action on tax rises would form the groundwork for further negotiations in the new year.


“The American people are watching what we do here,” he said. “Obviously their patience is already thin.”


Cuts and benefits


The term fiscal cliff refers to the combination of almost $ 600bn (£370bn) of tax rises and spending cuts due to come into force on 1 January if Congress does not pass new legislation.


Sweeping tax cuts passed during the presidency of George W Bush will expire, eventually affecting people of all income levels, and many businesses.


Other tax cuts and benefits set to expire include:


• A 2010 payroll tax cut, the expiration of which would prompt immediate wage-packet cuts


• Benefits for the long-term unemployed


• Compensation for doctors treating patients on federal healthcare programmes


• Inheritance taxes are also likely to be affected if no deal is reached.


In addition, spending cuts mandated by a law passed to break a previous fiscal impasse in Congress will come into force, affecting both military and domestic budgets.


The cuts are expected to affect federal government departments and the defence sector, as well as hitting unemployment insurance and veterans’ support.


BBC News – Business





Title Post: Obama ‘optimistic’ on cliff deal
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Artaflex Reports First Quarter Results






TORONTO, ONTARIO–(Marketwire – Dec 28, 2012) – Artaflex Inc. (TSX VENTURE:ATF) (“Artaflex” or the “Company), a specialist at delivering integrated product solutions and support to the global technology and electronics industry, today reports unaudited first quarter financial results for the three-month period ended October 31, 2012.


Artaflex reports in U.S. dollars and all numbers below are expressed in thousands of U.S. dollars, except per share information and gross margin percentages.






The financial statements for the first quarter ended October 31, 2012, including required comparative information, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).


Further information is available on the Company”s website at www.artaflex.com and the System for Electronic Document Analysis and Retrieval (“SEDAR) at www.sedar.com.


Q1 2013 Financial Highlights:


Sales increased 79.2% to $ 6,510 in the first quarter of 2013 compared to $ 3,632 in 2012, primarily due to the acquisition of Adeptron in March 2012. For the quarter, sales to the Company”s four largest customers represented an aggregate of 54% (2012 – 72%) of the Company”s total sales.


Gross profit decreased $ 195, to $ 881 compared to $ 1,076 in the same period of 2012. Gross profit as a percentage of sales was 13.5% compared to 29.6% for the same period in 2012. The decrease in gross profit and percentage in the quarter is largely due to the acquisition of Adeptron which historically had a lower gross profit.


Selling, general and administrative (“SG&A) expense increased 86.0% to $ 1,408 compared to $ 757 for the same quarter in 2012. The increase was primarily due to one-time legal and professional costs associated with the terminated acquisition of MTI International, Inc. SG&A expense as a percentage of sales was 21.6%, comparable to 20.8% in 2012.


The net loss and comprehensive loss was $ 906 compared to a net income of $ 467 in the first quarter of 2012.


Adjusted EBITDA loss was $ 312 compared to an adjusted EBITDA income of $ 467 in the same period last year.


EBITDA means earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA means earnings before interest, taxes, depreciation, amortization, stock-based compensation and restructuring costs. EBITDA and Adjusted EBITDA are not recognized measures under IFRS. However, management believes that EBITDA and Adjusted EBITDA as herein defined are useful supplemental measures to net income (loss), as it provides investors with an indication of cash earnings prior to debt service, capital expenditures, income taxes and other non-recurring and non-cash items. Readers should be cautioned, however, that EBITDA and Adjusted EBITDA should not be construed as an alternative to net income (loss) determined in accordance with generally accepted accounting principles as an indicator of the Company”s performance or to cash flows from operating, investing and financing activities as a measure of liquidity and cash flows. The Company”s method of calculating EBITDA and Adjusted EBITDA may differ from the methods by which other companies calculate EBITDA and Adjusted EBITDA and, accordingly, the EBITDA and Adjusted EBITDA used herein may not be comparable to measures used by other companies.


About Artaflex:


Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete Electronics Manufacturing Services (EMS), Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. Visit Artaflex at: www.artaflex.com.


This news release may contain forward-looking statements and information relating to such matters as expected financial performance, business prospects, technological developments, development activities and like matters. These statements involve risk and uncertainties, including but not limited to risk factors described in documents filed with regulatory authorities, such as the company”s most recently filed annual and quarterly MD&A”s. Actual results could differ materially from those projected as a result of these risks and should not be relied upon as a prediction of future events. Artaflex Inc. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, unless required to do so under applicable law.


Marketwire News Archive – Yahoo! Finance





Title Post: Artaflex Reports First Quarter Results
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment




Read More..

Wall Street ends sour week with fifth straight decline

NEW YORK (Reuters) - Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight.


President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set to take effect beginning next week. Stocks, which have been influenced by little else than the flood of fiscal cliff headlines from Washington in recent days, extended losses going into the close with the Dow Jones industrial average and the S&P 500 each losing 1 percent, after reports that Obama would not offer a new plan to Republicans. The Dow closed below 13,000 for the first time since December 4.


"I was stunned Obama didn't have another plan, and that's absolutely why we sold off," said Mike Shea, managing partner at Direct Access Partners LLC in New York. "He's going to force the House to come to him with something different. I think that's a surprise. The entire market is disappointed in a lack of leadership in Washington."


In a sign of investor anxiety, the CBOE Volatility Index <.vix>, known as the VIX, jumped 16.69 percent to 22.72, closing at its highest level since June. Wall Street's favorite fear barometer has risen for five straight weeks, surging more than 40 percent over that time.


The Dow Jones industrial average <.dji> dropped 158.20 points, or 1.21 percent, to 12,938.11 at the close. The Standard & Poor's 500 Index <.spx> lost 15.67 points, or 1.11 percent, to 1,402.43. The Nasdaq Composite Index <.ixic> fell 25.59 points, or 0.86 percent, to end at 2,960.31.


For the week, the Dow fell 1.9 percent. The S&P 500 also lost 1.9 percent for the week, marking its worst weekly performance since mid-November. The Nasdaq finished the week down 2 percent. In contrast, the VIX jumped 22 percent for the week.


Pessimism continued after the market closed, with stock futures indicating even steeper losses. S&P 500 futures dropped 26.7 points, or 1.9 percent, eclipsing the decline seen in the regular session.


All 10 S&P 500 sectors fell during Friday's regular trading, with most posting declines of 1 percent, but energy and material shares were among the weakest of the day, with both groups closely tied to the pace of growth.


An S&P energy sector index <.gspe> slid 1.8 percent, with Exxon Mobil down 2 percent at $85.10, and Chevron Corp off 1.9 percent at $106.45. The S&P material sector index <.gspm> fell 1.3 percent, with U.S. Steel Corp down 2.6 percent at $23.03.


Decliners outnumbered advancers by a ratio of slightly more than 2 to 1 on the New York Stock Exchange, while on the Nasdaq, two stocks fell for every one that rose.


"We've been whipsawing around on low volume and rumors that come out on the cliff," said Eric Green, senior portfolio manager at Penn Capital Management in Philadelphia, who helps oversee $7 billion in assets.


With time running short, lawmakers may opt to allow the higher taxes and across-the-board federal spending cuts to go into effect and attempt to pass a retroactive fix soon after the new year. Standard & Poor's said an impasse on the cliff wouldn't affect the sovereign credit rating of the United States.


"We're not as concerned with January 1 as the market seems to be," said Richard Weiss, senior money manager at American Century Investments, in Mountain View, California. "Things will be resolved, just maybe not on a good timetable, and any deal can easily be retroactive."


Trading volume was light throughout the holiday-shortened week, with just 4.46 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT on Friday, below the daily average so far this year of about 6.48 billion shares. On Monday, the U.S. stock market closed early for Christmas Eve, and the market was shut on Tuesday for Christmas. Many senior traders were absent this week for the holidays.


Highlighting Wall Street's sensitivity to developments in Washington, stocks tumbled more than 1 percent on Thursday after Senate Majority Leader Harry Reid warned that a deal was unlikely before the deadline. But late in the day, stocks nearly bounced back when the House said it would hold an unusual Sunday session to work on a fiscal solution.


Positive economic data failed to alter the market's mood.


The National Association of Realtors said contracts to buy previously owned U.S. homes rose in November to their highest level in 2-1/2 years, while a report from the Institute for Supply Management-Chicago showed business activity in the U.S. Midwest expanded in December.


"Economic reports have been very favorable, and once Congress comes to a resolution, the market should resume an upward trend, based on the data," said Weiss, who helps oversee about $125 billion in assets. "All else being equal, we see any further decline as a buying opportunity."


Barnes & Noble Inc rose 4.3 percent to $14.97 after the top U.S. bookstore chain said British publisher Pearson Plc had agreed to make a strategic investment in its Nook Media subsidiary. But Barnes & Noble also said its Nook business will not meet its previous projection for fiscal year 2013.


Shares of magicJack VocalTec Ltd jumped 10.3 percent to $17.95 after the company gave a strong fourth-quarter outlook and named Gerald Vento president and chief executive, effective January 1.


The U.S.-listed shares of Canadian drugmaker Aeterna Zentaris Inc surged 13.8 percent to $2.47 after the company said it had reached an agreement with the U.S. Food and Drug Administration on a special protocol assessment by the FDA for a Phase 3 registration trial in endometrial cancer with AEZS-108 treatment.


(Reporting by Ryan Vlastelica; Editing by Jan Paschal)



Read More..

Clippers beat Jazz 116-114 for 16th straight win


SALT LAKE CITY (AP) — The Los Angeles Clippers already have a December to remember.


Sunday they can close it out in perfect fashion against a familiar foe — the same Utah team they rallied to beat 116-114 Friday night to earn their 16th straight win.


If they extend their streak by beating the Jazz at home Sunday, they will join the 1995-96 Spurs and 1971-72 Lakers as the only teams in NBA history to complete a 16-0 month.


If they fight the way they did Friday, it should be easy.


"Give Utah credit, but our guys battled back tonight," Clippers coach Vinny Del Negro said. "They found a way to win and that's what it's all about. We stayed together, we weathered the storm when we had to and gave ourselves a chance and we were fortunate to make enough plays."


Afterward, team leader Chris Paul could hardly be heard over the pulsating music of Jay-Z as his teammates sang along in the visitors' locker room.


Why not?


The Clippers had just pulled off a 19-point comeback in what had been a dreadful venue for them.


Paul did most of the damage, leading the Clippers (24-6) with 29 points, including the final seven, as Los Angeles pulled out the two-point victory.


The Clippers winning streak is the longest in the NBA since Boston won 19 in row from Nov. 15 to Dec. 23, 2008.


The last time the franchise won three straight in Salt Lake City was 1979-1981 when they were the San Diego Clippers.


"This one is a great win for us because we kind of needed a challenge," said Blake Griffin, who had 22 points and 13 rebounds for the Clippers. "(We had) to prove not only to everybody else but to ourselves that we can still win close games like this and win a game down 19 in the third quarter."


In the opposing locker room, the Jazz were lamenting another one that got away — the second loss at home to the Clippers during their record streak. They dropped the first by one on Dec. 3 after leading by 14.


On Friday, ex-Clipper Randy Foye put up a 3-pointer at the buzzer that was contested by Matt Barnes, but no foul was called. Foye finished with a season-high 28 points for Utah.


Foye did his best not to say anything about the officiating.


"I felt as though I pump-faked," Foye said. "He knew that I wanted to shoot the 3 and I felt the contact. He made me go straight up and shoot the ball straight down. It was just a tough play."


Paul was tough down the stretch, with the clinching free throws after getting fouled by Al Jefferson with 3.4 seconds left.


"When (DeAndre Jordan) came to give me the ball screen, I wasn't worried about (Gordon) Hayward, I was just worried about Al Jefferson," Paul said. "I could tell (Jefferson) was going to try and blitz me. Anytime two guys try and trap me, I'm always going to attack the slower guy. If they wouldn't have called the foul, I was right around Al anyway."


He sank both free throws this time, after missing one with 18 seconds left that allowed Jefferson to grab the rebound, draw the foul and sink two free throws at the other end to tie it at 114.


Paul made sure he got both the next time.


"Man, I couldn't wait to get to the line. I couldn't wait to get to the line," Paul said. "I was mad at myself for missing that last one. I couldn't wait to get to the line to redeem myself."


Just like the first game this season against the Jazz, Utah had the upper hand early.


The Jazz used a 36-point second quarter to turn a seven-point deficit into a 58-48 halftime lead.


Their reserves did most of the damage. Alec Burks and Earl Watson pushed the pace, big men Enes Kanter and Derrick Favors showed their presence inside and Hayward found ways to score.


Kanter's block of Ronny Turiaf ignited the crowd.


Hayward's 3-pointer tied it at 34 with 7:04 left in the second and he scored 10 straight for the Jazz, who forced eight turnovers in the quarter and held the Clippers to 37.5 percent shooting.


Foye, who kept Utah close in the first with a 13-point quarter on 4-of-5 shooting, gave the Jazz their biggest lead of the half, 54-41, with two more free throws.


The Jazz led 74-55 with 8:08 left in the third on a pair of free throws by Paul Millsap. But the Clippers outscored Utah 29-14 the rest of the quarter to go ahead 88-84 going into the fourth.


Paul provided the offense in the third with 13 points on 4-of-6 shooting.


"At the beginning of the third quarter, they made another run at us but then we got a little bit of a rhythm and then started guarding. We started getting some stops and getting out in the open court," Del Negro said.


The loss dropped Utah below .500 at 15-16. The Jazz have now lost six of their last eight.


Al Jefferson added 22 points for Utah. Hayward had 17 off the bench for Utah.


DeAndre Jordan had 16 points and 10 rebounds for the Clippers, who had six players in double figures.


"It's all tough," Jazz coach Tyrone Corbin said. "On our home court. We had a lead, we gave up the lead but we continued to fight. We made some mistakes but fought our way through it and had a chance to win the ball game at the end. Unfortunately they got a lot of free throws."


NOTES: An unidentified Jazz employee was disciplined and had his access to the team Twitter account discontinued after what team officials deemed an inappropriate tweet regarding the firing of Nets coach Avery Johnson and Brooklyn's interest in Phil Jackson. The tweet said Jackson only wants "great players," an apparent reference to ex-Jazz point guard Deron Williams, who had criticized Johnson's offense. ... Jazz point guard Mo Williams still has swelling in his sprained right thumb and remains out indefinitely. ... The Clippers got a scare late in the first quarter when Lamar Odom came up limping. He returned in the second and finished with 12 points. ... The Clippers failed to register a blocked shot despite coming into the game averaging 6.52.


Read More..

2013: A year for big issues in the courts












By Jeffrey Toobin, CNN Senior Legal Analyst


December 27, 2012 -- Updated 1445 GMT (2245 HKT)







Chief Justice John Roberts re-administers the oath of office to Barack Obama at the White House on January 21, 2009.




STORY HIGHLIGHTS


  • Jeffrey Toobin: 2013 will see pivotal decisions in several key areas of law

  • He says Supreme Court could decide fate of same-sex marriage

  • Affirmative action for public college admissions is also on Court's agenda

  • Toobin: Newtown massacre put gun control debate back in the forefront




Editor's note: Jeffrey Toobin is a senior legal analyst for CNN and a staff writer at The New Yorker magazine, where he covers legal affairs. He is the author of "The Oath: The Obama White House and the Supreme Court."


(CNN) -- What will we see in 2013?


One thing for sure: The year will begin with Chief Justice John Roberts and President Obama getting two chances to recite the oath correctly.



Jeffrey Toobin

Jeffrey Toobin



After that, here are my guesses.


1. Same-sex marriage and the Supreme Court. There are two cases, and there are a Rubik's Cube-worth of possibilities for their outcomes. On one extreme, the court could say that the federal government (in the Defense of Marriage Act) and the states can ban or allow same-sex marriage as they prefer. On the other end, the Court could rule that gay people have a constitutional right to marry in any state in the union. (Or somewhere in between.)





CNN Opinion contributors weigh in on what to expect in 2013. What do you think the year holds in store? Let us know @CNNOpinion on Twitter and Facebook/CNNOpinion


2. The future of affirmative action. In a case pending before the Supreme Court, the Court could outlaw all affirmative action in admissions at public universities, with major implications for all racial preferences in all school or non-school settings.


3. Gun control returns to the agenda. The Congress (and probably some states) will wrestle with the question of gun control, an issue that had largely fallen off the national agenda before the massacre in Newtown. Expect many invocations (some accurate, some not) of the Second Amendment.




4. The continued decline of the death penalty. Death sentences and executions continue to decline, and this trend will continue. Fear of mistaken executions (largely caused by DNA exonerations) and the huge cost of the death penalty process will both accelerate the shift.


5. Celebrity sex scandal. There will be one. There will be outrage, shock and amusement. (Celebrity to be identified later.)


Follow @CNNOpinion on Twitter


Join us at Facebook/CNNOpinion


The opinions expressed in this commentary are solely those of Jeffrey Toobin.











Part of complete coverage on







December 27, 2012 -- Updated 1445 GMT (2245 HKT)



Jeffrey Toobin says key rulings will likely be made regarding same-sex marriage and affirmative action for public college admissions.







December 28, 2012 -- Updated 0041 GMT (0841 HKT)



Frida Ghitis says that after years in which conservative views dominated the nation, there's now majority support for many progressive stances.







December 28, 2012 -- Updated 0316 GMT (1116 HKT)



John MacIntosh says gun manufacturer Freedom Group should be acquired by public-spirited billionaires and turned into a company with ethical goals.







December 27, 2012 -- Updated 0237 GMT (1037 HKT)



Bassam Gergi and Ali Breland says we should mourn for Newtown's victims, but also take steps to stop the slaughter of young people in inner cities








Get the latest opinion and analysis from CNN's columnists and contributors.







December 26, 2012 -- Updated 1445 GMT (2245 HKT)



Tseming Yang says the 25 major carbon emitters should come to an agreement just among themselves about fighting climate change.







December 25, 2012 -- Updated 1252 GMT (2052 HKT)



David Frum says the National Rifle Association's "Death Wish" style vision of America as a land of armed civilians fending off criminals is a fantasy.







December 27, 2012 -- Updated 0207 GMT (1007 HKT)



Lawrence Krauss says the nation must grieve with the families of Newtown after such a tremendous loss, but religion is not the right framework







December 28, 2012 -- Updated 1044 GMT (1844 HKT)



Jonathan Batiste says jazz is a complex, traditional and utterly contemporary art -- the language that we use to state our deepest, truest feelings







December 26, 2012 -- Updated 1540 GMT (2340 HKT)



Dean Obeidallah says "Zero Dark Thirty" and "Promised Land" present hot button issues that fire up people from the left and right.







December 26, 2012 -- Updated 1344 GMT (2144 HKT)



MADD started as a small grass-roots movement that grew and radically changed society's views on drunk driving, says Candace Lightner.







December 22, 2012 -- Updated 1706 GMT (0106 HKT)



David Gergen says the hope for cooperation is gone in the capital as people spar over fiscal cliff, gun control, and nominations







December 19, 2012 -- Updated 2054 GMT (0454 HKT)



William Bennett says having armed and trained people could help protect schools and other vulnerable places from gun violence


















Read More..