Markets subdued as Dow remains in focus

LONDON (AP) — Markets were subdued Monday following a stellar finish to last week, when many stock indexes around the world hit multiyear highs following encouraging U.S. economic figures.

U.S. stocks are particularly in focus as the Dow jones industrial average closed above 14,000 on Friday for the first time in over five years. It’s now not far off its all-time high.

Hopes over the U.S. economy have helped fuel the optimism across financial markets this year, which has also seen the euro pick up a head of steam and oil prices approach the $ 100 a barrel mark.

However, with a dearth of scheduled economic news Monday, many think markets will struggle for direction and some investors may use the opportunity to book some gains.

“In recent weeks the mantra seems to have been very much one of buying regardless, but now that the major indices have retested those levels not seen since 2007, now may well be the time to take something of a reality check,” said Fawad Razaqzada, market strategist at GFT Markets.

In Europe, the FTSE 100 index of leading British shares was down 0.3 percent at 6,325 while Germany’s DAX fell 0.2 percent to 7,821. The CAC-40 in France was also 0.2 percent lower at 3,766.

Wall Street was poised for very modest gains at the open, with both Dow futures and the broader S&P 500 futures up 0.1 percent.

The focus won’t just remain on the U.S. this week. European matters will garner attention, not least in Italy, where the upcoming election is proving to be a closer race than many people had thought. Spain is also generating concern as the government is increasingly embroiled in a corruption scandal. Both countries are seen to have made progress in their struggles over their public finances.

The European Central Bank is meeting this week as well. Though no change in policy is expected, many investors will be interested to hear what its president, Mario Draghi, thinks about the strength of the euro. Though its advance in recent weeks is a sign of optimism over the currency’s future following a seeming easing in financial market worries over Europe’s debt crisis, it potentially makes life more difficult for the eurozone’s exporters and that could delay a recovery from recession.

On Monday, the euro edged 0.4 percent lower at $ 13583.

Earlier in Asia, Japanese stocks continued to gain ground alongside the falling yen, which is expected to help the country’s big exporters. The Nikkei 225 closed 0.6 percent higher at 11,260.35.

The yen has been falling over the past few weeks as the new government focuses on getting a moribund economy going again. As part of that drive it has asked the Bank of Japan to do more and that’s probably going to mean an expansion of the money supply.

“The ongoing shift to more aggressive monetary easing by the BoJ has helped accelerate the sell off for yen,” said Lee Hardman, currency strategist at Bank of Tokyo-Mitsubishi UFJ.

The dollar was up a further 0.4 percent against the yen on Monday, to 93.16 yen.

Elsewhere, Hong Kong’s Hang Seng fell 0.2 percent to 23,685.01 while South Korea’s Kospi edged down 0.2 percent to 1,953.21.

Oil prices drifted lower with the benchmark New York rate down 46 cents at $ 97.31 a barrel.

Economy News Headlines – Yahoo! News

Title Post: Markets subdued as Dow remains in focus
Url Post: http://www.news.fluser.com/markets-subdued-as-dow-remains-in-focus/
Link To Post : Markets subdued as Dow remains in focus
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..

Out of network? Don’t be out a lot of money

Stepping outside your health insurance company’s preferred providers list could take a toll on your bank account. Though there are certain circumstances where an insurance company will pay all or a portion of out-of-network costs, policyholders need to tread carefully. You can easily find yourself on the hook for massive bills. Here’s what you need to know.

How health care networks work

Doctors, hospitals and other health care providers “give health insurance companies discounts on care in order to increase their volume by attracting plan members,” explains health care economist Adam C. Powell, president of the consulting firm Payer+Provider Syndicate, in Boston. “When a health plan member goes out of network, the health insurance company is typically stuck paying retail prices rather than wholesale prices.”

And those higher prices can be passed along to the patient.

Robin Gelburd, president of Fair Health Inc., a New York-based nonprofit dedicated to increasing the amount of transparency in health insurance, adds that insurance networks can be complicated. There may be multiple payment tiers or fee structures that can make it difficult for policyholders to understand their costs. Also, hospitals or other health care facilities may be included in an insurance company’s network, but specific physicians, specialists or labs may not be.

“Oftentimes, consumers don’t think about all the elements in the care,” Gelburd says, adding that it’s possible for a mother to deliver a baby in a hospital that’s in-network but receive an epidural from a specialist who’s not, or for someone to undergo a colonoscopy from an in-network gastroenterologist but receive anesthesia from an out-of-network doctor.

Out of network: Costlier in multiple ways

The complexities of health insurance networks mean that it’s crucial for policyholders to understand exactly what facilities and which doctors are included in their network before seeking services. Venture out of network and the results could be costly, says Joe Mondy, spokesman for Cigna HealthCare in Bloomfield, Conn.

If your insurance company covers out-of-network care at all, those services or procedures will probably cost more since they won’t be eligible for your provider’s negotiated rates. And not only will the overall charges be bigger, but policyholders will also be responsible for a larger portion, says Mondy.

“If you go out of network, in most cases, the health plan will continue to cover you but there will be a difference in terms of the deductible,” he explains. “It will be a separate deductible and perhaps a higher deductible.”

And, once policyholders have satisfied the out-of-network deductible, their plan most likely will cover a smaller percentage of medical costs above the deductible mark. While many insurance policies cover 90 percent of all in-network costs beyond a policyholder’s deductible, a plan might pick up just 50 percent of those costs when you seek treatment out of network, Mondy adds.

Out-of-network pricing exceptions

“Sometimes, certain types of out-of-network costs such as emergency care are covered” even by plans that generally don’t pay for out-of-network care, says Powell.

Certain health plans include built-in coverage for out-of-network emergency services. Also, patients who go to an emergency room outside their network are given some protection by the Affordable Care Act, the health care reform law signed by President Barack Obama. It bars insurers from hitting policyholders with higher out-of-pocket costs when they go outside the network in an emergency. This provision currently applies only to health insurance plans created or issued after March 23, 2010.

However, an out-of-network hospital or other provider might bill the patient directly for additional charges, in a practice called “balance billing.”

Another time when health insurance may cover out-of-network services is when you need to see a specialist and an in-network doctor isn’t available in your area, Mondy says. Once again, the Affordable Care Act can come into play because it requires that newer health plans cover a long list of preventive care screenings, including colonoscopies and mammograms, and some of these may be administered by specialists.

If an in-network specialist isn’t available in your area, “you should contact your health care plan,” Mondy says. “Oftentimes, if there’s an opportunity to, the health plan will reach out to local doctors who may be out of network to get an agreement with them to put them in network.”

You can dicker — or dispute

If you feel there’s no way of avoiding charges for out-of-network care, doctors and health care providers outside your plan may be open to negotiating their fees on specific procedures if you do so in advance, says Gelburd. Make sure to get it all in writing.

The best way to avoid unexpected out-of-network costs is to know your policy. That includes understanding what’s included in your plan’s network, how out-of-network costs are calculated, which procedures require prior approval, and what costs count toward your deductible, Gelburd adds.

When you do find yourself with surprise out-of-network or other expenses that you thought would be covered, dispute the charges with your health insurer. If your appeal is rejected and you’re in a plan created after March 23, 2010, health care reform gives you the right to submit your dispute to an independent review organization, which has the power to overrule the health insurance company.

More From Bankrate.com

Yahoo! Finance – Personal Finance

Title Post: Out of network? Don’t be out a lot of money
Url Post: http://www.news.fluser.com/out-of-network-dont-be-out-a-lot-of-money/
Link To Post : Out of network? Don’t be out a lot of money
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..

Analysis: New miner wants in on the chummy global potash club

NEW YORK (Reuters) - Potash miner Prospect Global Resources Inc won't open its first mine until at least 2015, but the American upstart is already upsetting the multibillion-dollar fertilizer industry where a few players control a crucial ingredient in the global food chain.

China, with an insatiable appetite for fertilizer to help feed its growing population, has long been dependent on Canpotex, the Canadian sales agency that supplies a third of the world's potash.

But in December, Canpotex reluctantly agreed to a six-month supply contract with China at $400 per tonne, a $70 per tonne discount from its last contract price and a steeper cut than expected.

China got the cheaper price partly because it used as leverage a separate 10-year agreement inked last October with Prospect.

While macroeconomic and local factors - from economic growth to weather and production issues - do influence the contracts, Prospect's arrival is chipping away at Canpotex's near-monopoly. The stakes are high in a business that typically has profit margins of around 50 percent.

"We think Prospect Global is the best potash investment opportunity in North America," said Steven Sugarman of COR Capital, a private equity firm that is the company's fifth-largest shareholder. "We like the geology, we like the location and the team they've put together."

With demand for corn and other commodities booming around the world - and potash prices up roughly 150 percent in the past decade - food and fertilizer are hot commodities. Prices have cooled recently, but are still at decade-highs.

BlackRock Inc , Apollo Global Management LLC, and Ted Waitt, the co-founder of computer company Gateway, have taken note. They invested in Prospect - which went public last year - largely as a bet on a shake-up of the fertilizer industry.

Prospect is also helmed by some big names in the fertilizer industry. James Dietz, a Prospect board member, was Potash Corp's chief operating officer for more than 10 years, and Patrick Avery, Prospect's chief executive, previously ran Intrepid Potash Inc , which has mines in New Mexico.

Prospect finds itself an unwelcome new kid on the block, with rivals quick to cast doubt on its ability to hang tough amid the fertilizer industry's highs and lows.

"I don't take it seriously whatsoever," said Jim Prokopanko, chief executive of much-larger rival Mosaic Co , which owns Canada's Esterhazy, the world's largest potash mine.

"It'll be a small producer if it ever sees the light of day," he said in an interview.

That view is being tested as Canpotex, which is controlled by Mosaic, Potash Corp and Agrium Inc , negotiates a supply deal with India. Most analysts expect that contract price to be lower than its predecessor.

SCRATCHING THE SURFACE

Prospect is the largest of three companies developing a potash reserve in Holbrook, Arizona, an arid, flat scruff of land in the state's northeast corner.

Passport Potash Inc and privately held Hunt Consolidated Inc are exploring other parts of the reserve, though Prospect is farthest along in terms of development and funding.

Despite a BNSF train depot and several large tourist attractions - a meteorite exploded over Holbrook 100 years ago, attracting rock collectors - the town's unemployment rate is 13.5 percent. Mining promises to change that.

Arizona's potash deposit was quietly forgotten after a small geological expedition uncovered it in the 1960s. The deposit started to get more attention in 2008, as potash prices started to climb high enough to justify the more than $1 billion needed to develop a mine.

To exploit the land, Avery and other executives initially drew in BlackRock and other high-profile debt and equity investors. The group bought a publicly listed shell company to allow them to quickly become a listed company in June 2012 without going through the normal process of an initial public offering.

Several stock offerings since the firm became listed have diluted shares and pushed Prospect's stock down 40 percent in the past six months. More capital may be needed, a step that could further dent the share price.

"We are talking to other groups about more equity stakes to help us get started on drilling," Avery said.

Apollo is finalizing a $100 million debt financing deal, and BlackRock is the company's third-largest stockholder, with more than 5 million shares.

Top shareholders, many of whom invested before the firm went public, have said they believe the company is a long-term investment that will radically alter the fertilizer market.

If fully developed, Holbrook's fertilizer deposit would nearly double annual U.S. production of potash, one of the most-important nutrients that farmers apply to boost harvests.

Russia and Canada have the world's largest potash reserves, each with more than 3 billion tonnes compared with 130 million tonnes in the United States. The grade of Holbrook's potash deposit, at 11 percent to 13 percent, is roughly half the industry average.

But Prospect's production costs will be lower than those of its rivals because of milder weather and less digging required to reach the deposits, boosting margins.

Canpotex and Russian rivals operate primarily in colder climates and have potash reserves about 3,700 feet deep. Mosaic had to freeze an underground lake just to reach Saskatchewan's Esterhazy mine.

Prospect's Arizona potash deposit, by contrast, is roughly 1,000 feet deep in a year-round warm climate and closer to key West Coast ports than Canpotex facilities in Canada.

"A lot of these positive issues offset the lower grade reports," said Steven Rauzi of the Arizona Oil & Gas Conservation Commission, which oversees potash drilling in the state.

Prospect expects it will only cost about $112 per tonne to produce potash at its Arizona mine. The industry average is roughly $135 per tonne. That makes profit margins especially high, with market prices for potash above $400 per tonne.

China is taking 25 percent of Prospect's forecast 2 million tonnes of annual potash production, or 500,000 tonnes a year, an amount that will still make China the largest importer of American potash. The rest, if sold abroad, will only further roil Prospect's rivals when it hits the global market as competition intensifies to feed a growing population.

Canpotex will supply 1 million tonnes to China under a six-month supply contract that expires in June. But the fact that China was able to cut part of its dependence on Canadian potash showed that the world's second-largest economy is getting creative to feed its people.

For every $10 per tonne drop in the price of potash, Potash Corp's earnings slip by 7 cents per share, according to Credit Agricole.

That's not lost on Potash Corp analysts and investors, who peppered CEO Bill Doyle about Prospect in an earnings call last fall. Doyle played down the threat.

"If you look at the economics of the business today, there is no return on that investment," Doyle said of Prospect Global. "We don't pay much attention to it."

Prospect CEO Avery, however, points to the world's growing need for food, and adds that he is bullish on his company's potential - if for no other reason than the land on which it sits. "It is amazing," he said, "how well situated our plot of land is."

(Reporting By Ernest Scheyder; Editing by Patricia Kranz and Claudia Parsons)

Read More..

Ravens edge 49ers 34-31 in electric Super Bowl

NEW ORLEANS (AP) — For a Super Bowl with so many story lines, this game came up with quite a twist.

Try a blackout that turned a blowout into a shootout — capped by a brilliant defensive stand.

The Baltimore Ravens survived a frenzied comeback by the San Francisco 49ers following a 34-minute delay in the third quarter for a power outage Sunday night, winning their second championship 34-31. Super Bowl MVP Joe Flacco threw three first-half touchdown passes, Jacoby Jones ran back the second-half kickoff a record 108 yards for a score, and star linebacker Ray Lewis' last play fittingly was part of a defensive effort that saved the victory.

"To me, that was one of the most amazing goal-line stands I've ever been a part of in my career," said Lewis, who announced a month ago he would retire when the Ravens were done playing.

They are done now, with another Vince Lombardi Trophy headed for the display case.

"What better way to do it," Lewis said, "than on the Super Bowl stage?"

That stage already was loaded with plots:

—The coaching Harbaughs sibling rivalry, won by older brother John, who said the postgame greeting with Jim was "painful."

—Flacco's emergence as a top-level quarterback, and his impending free agency.

—Colin Kaepernick's rapid rise in the last two months as 49ers QB.

—The big game's return to the Big Easy for the first time in 11 years, and the first time since Hurricane Katrina ravaged the city in 2005.

—Lewis' self-proclaimed "last ride."

But when the Superdome lost power, well, that wasn't in anyone's scenario.

Flacco and the Ravens (14-6) were turning the game into a rout, leading 28-6 when, without even a flicker of warning, several banks of lights and the scoreboards went dark. Players from both sides stretched and chatted with each other in as bizarre a scene as any Super Bowl has witnessed.

"The bad part was we started talking about it," said safety Ed Reed, who had the game's only interception. "That was mentioned. It was like they were trying to kill our momentum."

After power was restored, the 49ers began playing lights out.

San Francisco (13-5-1), in search of its sixth Lombardi Trophy in as many tries, got back in the game almost immediately.

Michael Crabtree's 31-yard touchdown reception, on which he broke two tackles, made it 28-13. A few minutes later, Frank Gore's 6-yard run followed a 32-yard punt return by Ted Ginn Jr., and the 49ers were within eight.

Ray Rice's fumble at his 24 led to David Akers' 34-yard field goal, but Baltimore woke up for a long drive leading to rookie Justin Tucker's 19-yard field goal.

San Francisco wasn't done challenging, though, and Kaepernick's 15-yard TD run, the longest for a quarterback in a Super Bowl, made it 31-29. A 2-point conversion pass failed when the Ravens blitzed.

Tucker added a 38-yarder with 4:19 remaining, setting up the frantic finish.

Kaepernick couldn't get the 49ers into the end zone on the final three plays. The last was a pass into the right corner of the end zone to Crabtree that involved some incidental bumping. Jim Harbaugh insisted a flag should have been thrown.

"There's no question in my mind that there was a pass interference and then a hold," Jim Harbaugh said.

Ravens punter Sam Koch took a safety for the final score with 4 seconds left. Koch's free kick was returned by Ginn to midfield as time ran out.

"How could it be any other way? It's never pretty. It's never perfect. But it's us," John Harbaugh said of his Ravens. "It was us today."

Barely.

"Yeah, I think that last drive when we got the ball and had time to go down and score a touchdown," Kaepernick said, "we thought it was our game."

But the championship is Baltimore's.

As for the foul-up at America's biggest sporting event, officials revealed that an "abnormality" in the power system triggered an automatic shutdown, forcing backup systems to kick in. But no one was sure what caused the initial problem.

Everything changed after that until Lewis and Co. shut it down. But there were plenty of white-knuckle moments and the Ravens had to make four stops inside their 7 at the end.

"I think it speaks to our resolve, speaks to our determination, speaks to our mental toughness," John Harbaugh said. "That is what wins and loses games."

At 4 hours, 14 minutes, it was the longest Super Bowl ever.

Flacco's arrival as a championship quarterback — he had 11 postseason TD passes, tying a league mark, and no interceptions — coincides with Lewis' retirement. The win capped a sensational four games since Lewis announced he was leaving the game after 17 Hall of Fame-caliber years.

The Ravens will become Flacco's team now, provided he reaches agreement on a new contract.

Flacco's three TD passes in the opening half tied a Super Bowl record. They covered 13 yards to Anquan Boldin, 1 to Dennis Pitta and 56 to Jones.

That start boosted him to the MVP award.

"They have to give it to one guy and I'm not going to complain that I got it," Flacco said.

John Harbaugh had no complaints about getting that other trophy named after that Green Bay coach. But he struggled to balance it with the disappointment his brother was feeling.

"The meeting with Jim in the middle (of the field for the postgame handshake) was probably the most difficult thing I have ever been associated with in my life," the Ravens coach said.

The wild scoring made this the second championship in the NFL's 80-year title game history in which both teams scored at least 30 points. Pittsburgh's 35-31 win over Dallas in 1979 was the other.

The Ravens stumbled into the playoffs with four defeats in its last five regular-season games as Lewis recovered from a torn right triceps and Flacco struggled. Harbaugh even fired his offensive coordinator in December, a stunning move with the postseason so close.

But that — and every other move Harbaugh, Flacco and the Ravens made since — were right on target.

New Orleans native Jones, one of the stars in a double-overtime playoff win at Denver, seemed to put the game away with his record 108-yard sprint with the second-half kickoff.

Soon after, the lights went out — and when they came back on, the Ravens were almost powerless to slow the 49ers.

Until the final moments.

"The final series of Ray Lewis' career was a goal-line stand," Harbaugh said.

Lewis was sprawled on all fours, face-down on the turf, after the end zone incompletion.

"It's no greater way, as a champ, to go out on your last ride with the men that I went out with, with my teammates," Lewis said. "And you looked around this stadium and Baltimore! Baltimore! We coming home, baby! We did it!"

Jim Harbaugh, the coach who turned around the Niners in the last two years and brought them to their first Super Bowl in 18 years, had seen his team make a similarly stunning comeback in the NFC championship at Atlanta, but couldn't finish it off against Baltimore.

"Our guys battled back to get back in," the 49ers coach said. "I thought we battled right to the brink of winning."

The 49ers couldn't have been sloppier in the first half, damaging their chances with penalties — including one on their first play that negated a 20-yard gain — poor tackling and turnovers. Rookie LaMichael James fumbled at the Baltimore 25 to ruin an impressive drive, and the Ravens converted that with Flacco's 1-yard pass to Pitta for a 14-3 lead.

On San Francisco's next offensive play, Kaepernick threw behind Randy Moss and always dependable Reed picked it off. A huge scuffle followed that brought both Harbaughs onto the field and saw both sides penalized 15 yards for unnecessary roughness.

Reed, also a New Orleans native, tied the NFL record for postseason picks with his ninth.

Baltimore didn't pounce on that mistake for points. Instead, Tucker's fake field goal run on fourth-and-9 came up a yard short when Chris Culliver slammed him out of bounds.

The Ravens simply shrugged, forced a three-and-out, and then unleashed Jones deep. Just as he did to Denver, he flashed past the secondary and caught Flacco's fling. He had to wait for the ball, fell to the ground to grab it, but was untouched by a Niner. Up he sprang, cutting left and using his speed to outrun two defenders to the end zone.

Desperate for some points, the 49ers completed four passes and got a 15-yard roughing penalty against Haloti Ngata, who later left with a knee injury. But again they couldn't cross the goal line, Paul Kruger got his second sack of the half on third down, forcing a second field goal by Akers, from 27 yards.

When Jones began the second half by sprinting up the middle virtually untouched — he is the second player with two TDs of 50 yards or more in a Super Bowl, tying Washington's Ricky Sanders in 1988 — the rout was on.

Then it wasn't.

"Everybody had their hand on this game," 49ers All-Pro linebacker Patrick Willis said. "We point the fingers at nobody. We win together and we lose together, and today we lost it."

Read More..

Hillary: Secretary of empowerment

Girls hug U.S. Secretary of State Hillary Clinton during a 2010 tour of a shelter run for sex trafficking victims in Cambodia.

STORY HIGHLIGHTS

• Donna Brazile: Clinton stepping down as Secretary of State. Maybe she'll run for president


• She says as secretary she expanded foreign policy to include effect on regular people


• She says she was first secretary of state to focus on empowering women and girls


• Brazile: Clinton has fought for education and inclusion in politics for women and girls

Editor's note: Donna Brazile, a CNN contributor and a Democratic strategist, is vice chairwoman for voter registration and participation at the Democratic National Committee. She is a nationally syndicated columnist, an adjunct professor at Georgetown University and author of "Cooking with Grease." She was manager for the Gore-Lieberman presidential campaign in 2000.

(CNN) -- As Secretary of State Hillary Rodham Clinton steps down from her job Friday, many are assuming she will run for president. And she may. In fact, five of the first eight presidents first served their predecessors as secretary of state.

It hasn't happened in more than a century, though that may change should Clinton decide to run. After all, she has been a game changer her entire life.

But before we look ahead, I think we should appreciate what she's done as secretary of state; it's a high profile, high pressure job. You have to deal with the routine as if it is critical and with crisis as if it's routine. You have to manage egos, protocols, customs and Congress. You have to be rhetorical and blunt, diplomatic and direct.

CNN Contributor Donna Brazile

As secretary of state you are dealing with heads of state and with we the people. And the president of the United States has to trust you -- implicitly.

On the road with Hillary Clinton

Of all Clinton's accomplishments -- and I will mention just a few -- this may be the most underappreciated. During the election, pundits were puzzled and amazed not only at how much energy former President Bill Clinton poured into Obama's campaign, but even more at how genuine and close the friendship was.

Obama was given a lot of well-deserved credit for reaching out to the Clintons by appointing then-Sen. Hillary Clinton as his secretary of state in the first place. But trust is a two-way street and has to be earned. We should not underestimate or forget how much Clinton did and how hard she worked. She deserved that trust, as she deserved to be in the war room when Osama bin Laden was killed.

By the way, is there any other leader in the last 50 years whom we routinely refer to by a first name, and do so more out of respect than familiarity? The last person I can think of was Ike -- the elder family member who we revere with affection. Hillary is Hillary.

It's not surprising that we feel we know her. She has been part of our public life for more than 20 years. She's been a model of dignity, diplomacy, empathy and toughness. She also has done something no other secretary of state has done -- including the two women who preceded her in the Cabinet post.

Rothkopf: President Hillary Clinton? If she wants it

Hillary has transformed our understanding -- no, our definition -- of foreign affairs. Diplomacy is no longer just the skill of managing relations with other countries. The big issues -- war and peace, terror, economic stability, etc. -- remain, and she has handled them with firmness and authority, with poise and confidence, and with good will, when appropriate.

But it is not the praise of diplomats or dictators that will be her legacy. She dealt with plenipotentiaries, but her focus was on people. Foreign affairs isn't just about treaties, she taught us, it's about the suffering and aspirations of those affected by the treaties, made or unmade.

Most of all, diplomacy should refocus attention on the powerless.

Of course, Hillary wasn't the first secretary of state to advocate for human rights or use the post to raise awareness of abuses or negotiate humanitarian relief or pressure oppressors. But she was the first to focus on empowerment, particularly of women and girls.

She created the first Office of Global Women's Issues. That office fought to highlight the plight of women around the world. Rape of women has been a weapon of war for centuries. Though civilized countries condemn it, the fight against it has in a sense only really begun.

Ghitis: Hillary Clinton's global legacy on gay rights

The office has worked to hold governments accountable for the systematic oppression of girls and women and fought for their education in emerging countries. As Hillary said when the office was established: "When the Security Council passed Resolution 1325, we tried to make a very clear statement, that women are still largely shut out of the negotiations that seek to end conflicts, even though women and children are the primary victims of 21st century conflict."

Hillary also included the United States in the Trafficking in Person report. Human Trafficking, a form of modern, mainly sexual, slavery, victimizes mostly women and girls. The annual report reviews the state of global efforts to eliminate the practice. "We believe it is important to keep the spotlight on ourselves," she said. "Human trafficking is not someone else's problem. Involuntary servitude is not something we can ignore or hope doesn't exist in our own communities."

She also created the office of Global Partnerships. And there is much more.

She has held her own in palaces and held the hands of hungry children in mud-hut villages, pursuing an agenda that empowers women, children, the poor and helpless.

We shouldn't have been surprised. Her book "It Takes a Village" focused on the impact that those outside the family have, for better or worse, on a child's well-being.

As secretary of state, she did all she could to make sure our impact as a nation would be for the better.

Follow us on Twitter @CNNOpinion

Join us on Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of Donna Brazile.

Read More..

Affleck wins directors award as ‘Argo’ hurtles to Oscars

LOS ANGELES (Reuters) – Actor-turned-filmmaker Ben Affleck won the top honor from his peers at the Directors Guild of America on Saturday for the movie “Argo“, cementing the Iran hostage drama’s frontrunner status for the Oscars.

The Hollywood directors‘ recognition for Affleck, however, is an awkward result for the Academy of Motion Pictures Arts and Sciences, which failed to nominate him for Best Director in what is considered one of the biggest snubs of this year’s Oscars.

Since 1948, there have been only six occasions when the Directors Guild of America (DGA) winner has not gone on to win the Oscar for Best Director.

“I have nothing but respect for the Academy,” Affleck said after collecting his first DGA award. The Hollywood star, a producer of “Argo”, said he was thrilled the film was nominated for the Oscars’ Best Picture award.

“You are not entitled to win anything,” he said.

“Argo” has picked up the three top awards from the industry’s guilds, whose members are also often members of the Academy.

Last weekend, the film was the victor at both the Producers Guild and the Screen Actors Guild awards, leaving Steven Spielberg‘s Civil War-era epic “Lincoln” in its wake.

Affleck also won Best Director at the Golden Globes while “Argo” won Best Drama. The Oscars will be held on February 24.

On Saturday, Affleck bested four directors who had all previously won the top DGA honor and gone on to win the Best Director Oscar.

It has been a particularly tough awards season for Spielberg, nominated by the DGA for the 11th time with “Lincoln” and a two-time winner for “Schindler’s List” in 1994 and “Saving Private Ryan” in 1999.

“What an incredible year for movies,” said Spielberg. “Maybe I’ve had moments when I wished it wasn’t such an incredible year.”

Affleck also beat out Kathryn Bigelow, nominated for Osama bin Laden-manhunt thriller “Zero Dark Thirty,” Ang Lee for his 3D adaptation of the bestselling novel “Life of Pi”, and Tom Hooper, for his screen adaptation of the hit musical “Les Miserables”.

In “Argo”, which is based on a real account, Affleck also plays the lead role of a CIA agent entrusted with extracting six Americans from revolutionary Iran after the U.S. embassy is stormed. The agent, with help from Hollywood, creates a fake film and makes the Americans part of the crew.

“There was a point in my life where I was really down and really confused … didn’t know what was going to happen and I thought ‘I could be a director’,” Affleck told the high-powered Hollywood crowd on Saturday.

“I don’t believe this makes me a real director, but I think I am on my way,” he said.

Another young director also collected a top award on Saturday – Lena Dunham for Best Comedy Series for “Girls”, the HBO show about four girls in Brooklyn and their travails over sex, work and making it in the big city.

“This is surreal, which I know is an over-used Los Angeles word,” said Dunham, who often appears in the show she created wearing little or no clothes.

(Editing by Pravin Char)

Movies News Headlines – Yahoo! News

Title Post: Affleck wins directors award as ‘Argo’ hurtles to Oscars
Url Post: http://www.news.fluser.com/affleck-wins-directors-award-as-argo-hurtles-to-oscars/
Link To Post : Affleck wins directors award as ‘Argo’ hurtles to Oscars
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..

Restive Cities Threaten Egypt’s Suez Canal

Attempting to quell unrest, President Mohamed Mursi declared a state of emergency in Port Said, Ismailia, and Suez. The cities straddle an important source of hard currency, but canal traffic has so far escaped disruption.

Graphic by Bloomberg Businessweek; Data: Suez Canal Authority, UN Conference on Trade and Development

Businessweek.com — Top News

Title Post: Restive Cities Threaten Egypt’s Suez Canal
Url Post: http://www.news.fluser.com/restive-cities-threaten-egypts-suez-canal/
Link To Post : Restive Cities Threaten Egypt’s Suez Canal
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..

Report: German check bust man is ex-Iran bank head

BERLIN (AP) — The German newspaper Bild am Sonntag reports that a man caught last month trying to enter Germany with a check worth about $ 70 million was Iran’s former central bank chief.

The weekly reports that customs officials at Duesseldorf airport found the check in Tahmasb Mazaheri’s luggage Jan. 21 upon his arrival from Turkey.

German customs had issued a statement Friday saying a check for 300 million Venezuelan Bolivars issued by the Bank of Venezuela was found on an unnamed 59-year-old man.

Neither customs officials nor Iran’s embassy could be reached for comment late Saturday.

Mazaheri was the governor of the Central Bank of Iran until 2008.

Bild am Sonntag reported in its Sunday edition that German police and customs are investigating possible money laundering.

International News and Information on Yahoo! Finance

Title Post: Report: German check bust man is ex-Iran bank head
Url Post: http://www.news.fluser.com/report-german-check-bust-man-is-ex-iran-bank-head/
Link To Post : Report: German check bust man is ex-Iran bank head
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..

"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

Read More..

Super Bowl of firsts, lasts, bests

NEW ORLEANS (AP) — The journey to this Super Bowl wound through bounties and replacement refs, eventually bringing the big game back to the Big Easy — with a replacement quarterback, a sibling rivalry and a grand exit for one of the NFL's greatest players, clouded by the obscure healing powers of deer-antler spray.

It is a Super Bowl of comebacks, of firsts and lasts, and — if San Francisco wins — the best.

A win over the Baltimore Ravens on Sunday gives the 49ers six championships, matching Pittsburgh's titles in the Super Bowl era. Unlike the Steelers, the Niners have never lost one.

Of course, they haven't won one in 18 years, either.

"There's a tradition with the San Francisco 49ers, but I think these guys are paving their own way," said Hall of Fame receiver and three-time champion Jerry Rice. "They're playing with a lot of swagger."

Or as owner Denise DeBartolo York said, "We've come full circle and the dynasty will prevail."

New Orleans has come full circle, too. Ravaged by Hurricane Katrina in August 2005, losing a quarter of its population, abandoned by the Saints for an entire season, the city couldn't imagine hosting another Super Bowl. But as New Orleans recovered and rebuilt, it envisioned staging what Patriots owner Robert Kraft calls "the pre-eminent sporting event."

The NFL agreed it was time to return. And even if Commissioner Roger Goodell is despised here after slapping the Saints with suspensions and fines in the bounty scandal, the vibes from the French Quarter and Warehouse District this week have been supportive, even uplifting.

"It's also terrific for us to be back here in New Orleans," Goodell said, joking about voodoo dolls in his likeness. "Our 10th Super Bowl here, the first since Katrina, and it's clear this city is back bigger and better than ever."

There's the tale of the head coaching brothers, Baltimore's John and San Francisco's Jim, the first siblings to face off in a Super Bowl. And Ray Lewis, the pre-eminent linebacker of his generation on his self-proclaimed last ride. (His farewell party was somewhat sidetracked for two days this week when Lewis waved off a report that he tried to get unusual products like deer-antler spray to speed his recovery from an arm injury that sidelined him for 10 games.)

"There are so many storylines to this game that make it bigger than just the Super Bowl," 49ers CEO Jed York said.

Such as the Harbaughs plot about sons of a lifetime coach who took different paths to the top of the NFL.

John, older by 15 months, has made his career standing on the sideline with a headset. He's the only head coach to win playoff games in his first five seasons; his quarterback, Joe Flacco, has the same distinction as he heads into his first Super Bowl. Jim Harbaugh was a first-round draft pick and quarterbacked four teams in 14 pro seasons before going into coaching. He was an immediate success at San Diego — the Toreros in the college Pioneer League, not the Chargers in the NFL — and Stanford before the 49ers won a bidding war for him in 2011.

This week's family reunion has been light-hearted, though that figures to change Sunday.

"It's probably a little tougher emotionally," John Harbaugh said of facing his brother. "It's a little tougher just from the sense of I don't think you think about it when you're coaching against somebody else; it's more about the scheme and the strategy. There's a little bit of a relationship element that's more strong than maybe coaching against someone else.

"I'll have a better answer for you after the game. I've never been through this before. This is all new."

And oh-so-new for the QBs, Flacco and Colin Kaepernick.

Flacco is no fluke, holding the career record for road playoff wins with six. But until outplaying Peyton Manning and Tom Brady this year, he hadn't gotten the Ravens to the Super Bowl. He has eight touchdown passes and no interceptions in the postseason, padding a resume that soon will make him one very highly paid quarterback: Flacco's contract expires after this game. Even with a franchise tag applied by Baltimore (13-6), he'll make about $14.6 million next season.

"I think when you talk about winning as quarterbacks in the playoffs," Flacco said, "I would think that all of them have Super Bowl victories. So that's really the only one that matters, and that's what we're trying to get."

Naturally, so are the 49ers (13-4-1), whose midseason adoption of the pistol offense to best use Kaepernick's dynamic versatility added a dimension no one has been able to stop. The Niners might never have taken such a huge step had incumbent Alex Smith, in the midst of his best season, not sustained a concussion on Nov. 11. Kaepernick took over and the offense took off.

Once Smith was healthy, he no longer was the starter. Jim Harbaugh gambled by sticking with the raw second-year quarterback who brought more game-breaking skills to the position.

Difficult decisions like that are sometimes foolhardy, sometimes inspired.

This one worked superbly, and Kaepernick stands one victory from joining Joe Montana and Steve Young as a 49er Super Bowl champion.

"It was tough watching this team do well and not being able to contribute," said Kaepernick, more recognized before his promotion for his collection of tattoos than for his strong arm and sprinter's speed. "For me, what kept me going was the fact that I might get an opportunity to get out there. When I did, I needed to take advantage of it."

The 49ers hope to take advantage in the same Superdome where they were at their most dominant, beating Denver 55-10 in 1990 in the biggest rout the Super Bowl has seen.

The Steelers are recognized as the true powerhouse of the Super Bowl era, which is nearly a half-century old. Four of those titles came in the 1970s, with Mean Joe Greene and the Steel Curtain shutting down opponents while Terry Bradshaw, Franco Harris and Lynn Swann were scoring on them.

But the last two were in 2005 and 2008, and they've been perennial playoff qualifiers, too. That kept them in the football forefront.

For the 49ers the golden years of Montana, Rice, Young and Ronnie Lott ended with the 1994 season. They didn't even make the playoffs from 2003-10, and this is their first trip back to the Super Bowl.

Rice sees Super Bowl win No. 6 coming Sunday.

"I just think we had players who played well in the big game," he said. "My best football that I played, I think, happened in the playoffs and in the Super Bowl. I think it's the same with these players."

None of whom, except for center Jonathan Goodwin and linebacker Clark Haggans, has won a title. That's still one more ring than the Ravens have: Lewis is the sole NFL champion in Baltimore.

Lewis hungers for these teammates to taste their first title — and to do it in his last game.

"I've touched the Lombardi (Trophy), and I know how it feels," the perennial All-Pro said. "For these guys who've made this journey with me to feel that, it would be the perfect ending for my career."

Like Lewis, 49ers receiver Randy Moss also could be suiting up for the final time, although he hopes to play another year.

Grabbed off the scrap heap after his career spiraled into oblivion and no team would touch him in 2011, Moss didn't do much on the field (28 catches, 434 yards) this season. His loudest headlines came this week when he proclaimed himself the greatest receiver ever; maybe he's never seen Rice's numbers.

Teammates say Moss was very influential as a mentor and teacher.

"Randy's like my older brother," said Michael Crabtree, who emerged as a top receiver in his fourth pro season. "An older brother you would have that's been through a lot that you just can learn from just talking to him, watching him.

"He's a legend and I hope he'll be here next year."

Lewis won't be. He'll don the face paint, put on his No. 52 for the final time, and see if he can replicate the championship of a dozen years ago.

"You can never top the first one, because that's an unknown feeling," Lewis said before adding with a chuckle, eyes widening, "but a second one — that might be the only way you really can top it."

Read More..