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Jan 17, 2013

BBC NEWS | Business (January 17, 2013).: Regulators ground all Boeing 787s

18 January 2013 Last updated at 00:26 GMT

Regulators ground all Boeing 787sBoeing 787 Dreamliners

All of Boeing's flagship 787 Dreamliner planes are taken out of service following concerns about battery safety, the first major aircraft grounding since 1979.

Woman's shadow on Intel signIntel profits and revenues fall

Intel shares fall in after-hours trading as the computer chipmaker unveils a drop in sales and profits for the last three months of 2012.

AT&T logoAT&T takes $10bn pensions charge New

US telecoms giant AT&T will put aside $10bn (£6.25bn) in the fourth quarter to cover pension fund losses due to lower-than-expected interest rates.

NYT | Politics (January 17, 2013).: No Votes Disguise Yes Sympathies for Some in G.O.P.

The New York Times

January 17, 2013


No Votes Disguise Yes Sympathies for Some in G.O.P.

As House Republicans gather Thursday for their annual retreat, they will try to map out an approach to coming confrontations with President Obama and Congressional Democrats.

More Politics

White House Denounces Web Video by N.R.A.

A Web video published by the gun rights group suggested that the president was an "elitist" because his two daughters have protection while he opposes posting armed guards at schools.

Even Defining 'Assault Rifles' Is Complicated

One obstacle President Obama may face in proposing a new federal ban on assault weapons could lie in the use of the term "assault weapon" itself.
The Caucus

An Uneasy Turn at the G.O.P. Retreat

Representative Greg Walden of Oregon was prodded by reporters over a panel discussion on outreach to minorities and women.

The Caucus

A Popularity Present for Michelle Obama

The latest poll by The Times and CBS News shows few people hold a negative view of President Obama's spouse.

Rosa Parks Statue to Be Added to the Capitol

The civil rights leader will become the first African-American woman to have her likeness depicted in the Capitol's Statuary Hall when a statue of her is installed this year.

At Republican Retreat, Ryan Urges Unity on Fiscal Issues

At House Republicans' retreat to discuss the future of their conference, Representative Paul D. Ryan warned members that they have to "recognize the realities of the divided government that we have."

Arizona Congresswoman Hires Immigrant Activist After She Details Raid

Erika Andiola, the young immigrant activist who chronicled the arrests of her mother and brother during an immigration raid here, was hired by Representative Kyrsten Sinema to do outreach.

The Debt Reckoning

This feature follows the talks between President Obama and Congressional leaders over the so-called fiscal cliff.
Clockwise from top left: Joseph R. Biden Jr., vice president; Desirée Rogers, former White House social secretary; Jon Favreau, speechwriting director; Rahm Emanuel, former White House chief of staff; Valerie Jarrett, senior adviser; David Axelrod, former senior adviser.

Obama's First Term: A Romantic Oral History

Members of Obama's first administration learned a humbling lesson in Washington realpolitik, but they remember it more like a great episode of "The West Wing."
President Obama and the first lady Michelle Obama at the Commander-in-Chief's Ball, Jan. 20, 2009.
The Buzz

A-List Guide to the Inauguration Parties

A roundup of inaugural events to covet this year.


Video: Gun Debate Moves to Capitol Hill
TimesCast Politics: Proposals face Congressional resistance. | Business groups want restraint on debt ceiling threats. | The White House readies a new team of advisors.
Video: Obama Unveils Plan for Gun Laws
President Obama outlined his proposals to reduce gun violence in the United States, urging Congress to approve expanded background checks, a ban on assault weapons and other restrictions.

NYT | Global Update (January 17, 2013).: Some Hostages Killed, but Raid Rescues Many, Algeria Says.

The New York Times International Herald Tribune
January 17, 2013
Compiled 21:45 GMT

Global Update

Some Hostages Killed, but Raid Rescues Many, Algeria Says

Algerian forces assaulted a group of Islamist extremists with dozens of hostages in a gas field Thursday, killing many of the kidnappers and freeing many of their captives in a raid that left some hostages dead, the government announced.

Pakistani Preacher Reaches Deal with Government

Muhammad Tahir-ul Qadri, the preacher turned political, ended his protest Thursday night after the government granted his party largely symbolic input into the country's electoral process.

Prime Minister Ready to Stake Britain's European Role on a Referendum

Prime Minister David Cameron is heading for Amsterdam on Friday to set out his vision of a sharply whittled-down role for Britain in 21st-century Europe.

Lens Blog

Chim: A Vivid Retrospective of Europe

David Seymour, known as Chim, didn't shine in the spotlight like his more famous Magnum colleagues. But a retrospective opening this week shows him to have been a master chronicler of 20th century Europe.

Op-Ed Contributor

I Went After Guns. Obama Can, Too.

If a right-wing Australian government supported by rural gun owners could successfully implement gun control, America's government can, too.

France Sends Reinforcements to Confront Islamist Forces in Mali

Contradicting early French reports, officials said French forces had been involved in direct ground combat since just after landing last week.

U.S. Sees Hazy Threat From Mali Militants

The rush of violent events has masked the fact that officials in Washington still have only an impressionistic understanding of the militant groups that have established a safe haven in Mali.
High & Low Finance

How Dell Became Entangled in Options

Dell has spent more on share repurchases than it earned throughout its life as a public company, and most of those repurchases were at prices well above current levels.

Profit Drops 63% at Bank of America After Mortgage Settlements

The bank's widely expected drop in fourth-quarter profit comes after it settled legal claims over its mortgage business. It earned 3 cents a share, narrowly beating estimates.

Winfrey's Low-Rated Channel Is Poised to Break Through

The cable channel benefited from Lance Armstrong's confessional interview and a deal to collect subscriber fees from some of the country's biggest satellite and cable operators.

Europe Weighs Requiring Firms to Disclose Data Breaches

To combat a rise in cybercrime, the European Commission is considering a plan to require some of the biggest Web businesses to report the loss or theft of personal data, or risk sanctions and fines.

H.P. Said to Have Suitors for Two Units

Hewlett-Packard has received inquiries from would-be buyers for its Autonomy and Electronic Data Systems units, but the technology company isn't interested in selling at the moment.

EBay Tops Forecasts on Sales for Holidays

The strides that eBay has made in the mobile market have impressed investors, helping propel its stock price to a 68 percent gain last year.

Armstrong Stripped of 2000 Olympic Medal

The International Olympic Committee asked Lance Armstrong to return the medal he won in the men's individual road cycling time trial in Sydney, Australia.

Up Next for Bernard Tomic: The Great Roger Federer

Australia's big talent with a bad-boy streak will now get his fourth chance to play the game's grand master, fully aware that the first three attempts did not work out too well.

A Near-Perfect Fit for Guardiola in Munich

The former Barcelona coach will take over a team that has plenty of young stars and a solid team of executives.

Philadelphia Vandalism Seen by Some as Union Intimidation

Labor leaders say an episode involving a Quaker meeting house has no connection with any work dispute.

Obama to 'Put Everything I've Got' Into Gun Control

President Obama on Wednesday unveiled plans to introduce legislation by next week that includes a ban on assault weapons, limits on high-capacity magazines and other steps.

White House Denounces Web Video by N.R.A.

A Web video published by the gun rights group suggested that the president was an "elitist" because his two daughters have protection while he opposes posting armed guards at schools.
Op-Ed Contributor

Stick With the Science

A blanket ban on mercury could block millions of needed vaccinations.
Op-Ed Columnist

The Blight of Return

Illusion and division sap the Palestinian national movement at a time when its West Bank achievements have laid the basis for statehood.
Op-Ed Columnist

Lessons From Guns and a Goose

If you think guns make us safer, consider this story of a goose that almost led to a shootout.

NYT | The Learning Network (January 17, 2013).: News and 'News Analysis': Navigating Fact and Opinion in The Times

The New York Times

January 17, 2013

The Learning Network

Lesson Plans

News and 'News Analysis': Navigating Fact and Opinion in The Times
The Learning Network Blog

News and 'News Analysis': Navigating Fact and Opinion in The Times

How do we distinguish fact from opinion in The Times, and in other news reports? In this lesson, students learn how news and opinion articles are labeled for clarity, then examine articles and opinion pieces on the sentence level.
Teaching About the Flu With The New York Times

Teaching About the Flu With The New York Times

Ideas for science, health, technology, math, history and English classrooms for learning about flu in general, and this year's flu in particular.
Making Do: Learning and Growing Through Adversity

Making Do: Learning and Growing Through Adversity

In this lesson we ask questions rooted in harsh economic times: How do people manage when the going gets tough? And what traits help some people, or whole societies, succeed where others fail?
What's Going On in this Picture? | Jan. 14, 2013

What's Going On in this Picture? | Jan. 14, 2013

Every Monday morning, we publish a New York Times photo without a caption, headline or other information about its origins. Join the conversation by posting about what you see and why in our comments section.
Common Core Practice | A Mining Village in Peru, Weapons in Syria and Inaugural Poetry

Common Core Practice | A Mining Village in Peru, Weapons in Syria and Inaugural Poetry

In this week's installment, students can write argumentative pieces about a mining town in Peru; create poems in honor of the poet chosen for this year's presidential inauguration; and summarize why many countries are concerned with Syria's possible production of chemical weapons.

Student Opinion Questions

If You Could Go Anywhere, Where Would You Want to Travel?

If You Could Go Anywhere, Where Would You Want to Travel?

Is there any site on the "46 Places to Go in 2013" list that caught your interest?
What Have Your Parents Taught You About Money?

What Have Your Parents Taught You About Money?

What lessons have you learned, directly or indirectly, from your parents about the topic of money and how to handle it?
Does Facebook Ever Make You Feel Bad?

Does Facebook Ever Make You Feel Bad?

Does the popular social networking site sometimes make you feel like everyone else is having more fun than you?
Is Dating a Thing of the Past?

Is Dating a Thing of the Past?

How has dating changed in recent years, according to many young people?
What Were the Best Movies You Saw in 2012?

What Were the Best Movies You Saw in 2012?

What are the qualities that you look for in a great movie?

DealBook P.M. Edition (January 17, 2013).: White Collar Watch: Few Possibilities for Prosecution at JPMorgan

Thursday, January 17, 2013
White Collar Watch: Few Possibilities for Prosecution at JPMorgan Peter J. Henning says that the internal report released by JPMorgan Chase this week related to a disastrous bet on a hedging strategy may not be a good guidebook for federal prosecutors looking to build a criminal case.
SurveyMonkey Raises Nearly $800 Million While Staying Private SurveyMonkey, which provides online surveys, closed on a new round of financing that values the company at about $1.35 billion.
New Barclays Chief Tells Staff to Accept Changes or Leave In a memo to bank employees, the chief executive, Antony P. Jenkins, said: "We must never again be in a position of rewarding people for making the bank money in a way which is unethical or inconsistent with our values."
Canada Pension Plan Unit to Join K.K.R. Merchant Banking Venture An arm of the Canada Pension Plan Investment Board said on Thursday that it would be the latest partner in a merchant banking business run by Kohlberg Kravis Roberts.
Facing Legal Costs, Citigroup Disappoints in 4th Quarter As the bank works to clean up its mortgage mess, it reported fourth-quarter profit of $1.2 billion, or 38 cents a share, significantly below analysts' estimates.
BlackRock Reports 29% Increase in Earnings BlackRock's fourth-quarter adjusted earnings of $3.96 a share beat analysts' estimates as the firm benefited from demand for exchange-traded funds and investments tied to bonds.
Profit Drops 63% at Bank of America After Mortgage Settlements The bank's widely expected drop in fourth-quarter profit comes after it settled legal claims over its mortgage business. It earned 3 cents a share, narrowly beating estimates.
Rio Tinto to Book $14 Billion Charge; C.E.O. Replaced The mining giant blamed challenges in the aluminum business and at its coal unit in Mozambique for the write-down, and said Sam Walsh would succeed Tom Albanese as chief executive.
Breakingviews: Few Silver Linings in Gloomy Bank Reports Antony Currie and Agnes T. Crane say that Bank of America and Citigroup are giving investors nothing but reasons to fret.
Economic Reports Data scheduled to be released on Friday includes the Thomson Reuters/University of Michigan consumer sentiment index for January.
Corporate Earnings Companies scheduled to release quarterly earnings reports on Friday include General Electric, Morgan Stanley, Schlumberger and State Street.
Overseas On Friday, China reports fourth-quarter gross domestic product.

Quotation of the Day
"Barclays is not the place for you. The rules have changed. You won't feel comfortable at Barclays and, to be frank, we won't feel comfortable with you as colleagues."
Antony Jenkins, chief of Barclays, in a statement on changes at the bank.


MarketWatch | Wall Street at Close Report (January 17, 2013).: Stocks rally; S&P 500 above five-year high

By Kate Gibson, MarketWatch 

NEW YORK (MarketWatch)U.S. stock gains on Thursday propelled the S&P 500 index to its highest finish since late 2007 as upbeat jobs and housing reports offered respite from politics and other concerns.

“The fact that housing is so robust is really good, and jobless claims were a lot lower than expected,” said David Kelly, chief market strategist at J.P. Morgan Funds. Both data points “show an economy with a fair amount of momentum going into the new year, and that’s positive,” he added. 

The Dow Jones Transportation Average DJT +0.66%  hit a record high as investors adopted a ‘buy the break’ mentality. The index of 20 transport companies including shippers FedEx Corp. FDX +0.39%  and United Parcel Service Inc. UPS +0.16% , as well as airlines and trucking firms, is viewed as an indicator of economic activity.

The gains came after data had housing starts rising more than anticipated and jobless claims dropping to a five-year low, helping propel home builders and other consumer-discretionary companies to robust gains. 

Rising above the 1,474 resistance level, the S&P 500 index SPX +0.56%  rallied 8.31 points, or 0.6%, to 1,480.94, its highest close since Dec. 26, 2007. 

Why Rio Tinto CEO stepped down Tom Albanese of Rio Tinto becomes the latest mining industry chief executive to step down. The WSJ's Andrew Critchlow explains why Mr. Albanese left and what that means for the Australian company. 

After a 122-point surge, the Dow Jones Industrial Average DJIA +0.63%  ended at 13,596.02, up 84.79 points, or 0.6%. 

The Nasdaq Composite index COMP +0.59%  rose 18.46 points, or 0.6%, to 3,136.
Economic news buoyed the mood on Wall Street. The Commerce Department reported housing starts jumped 12.1% in December, the biggest gain since June 2008. Read: Housing starts jump in December. 
“The residential data was a big surprise; we expected a gain, but we did not expect that gain,” said Elizabeth Ptacek, senior vice president and a senior credit real estate analyst at KeyBank. 

Separately, the Labor Department reported applications for jobless benefits last week declined by 37,000 to 335,000, the lowest level since January 2008. Read: Initial jobless claims fall by 37,000.
The jobless-claims report “suggests that we’re likely to see nonfarm payrolls expand at perhaps a better rate than we’ve seen in recent months, and is keeping a bid in the market here,” said Eric Wiegand, portfolio manager at U.S. Bank Wealth Management. 

“It’s a welcome reprieve from all of the concerns investors have been tracking regarding the activity or lack of activity in Washington,” he said. 

“The labor and housing figures were really quite compelling and exceeded expectations rather handily in both cases,” Wiegand said of the data, which helped brighten views of the U.S. economy and diverted attention, even if only temporarily, from the coming debate in Washington over the debt ceiling and government spending. 

House Republicans are mulling the idea of a short-term increase in the U.S. debt ceiling to allow for time to debate reduced government spending, Budget Committee Chairman Paul Ryan told reporters, according to media reports. The Wisconsin Republican spoke Thursday at a press conference outside Williamsburg, Va., where House Republicans are meeting to consider strategy. Read: Republicans eyeing short-term debt-limit increase, Ryan says. 
“Ryan’s suggestion of a temporary extension should be regarded as a positive sign,” said Kelly at J.P. Morgan. 

Not all of Thursday’s economic news was positive, however, with an index of manufacturing activity in the Philadelphia region turning negative in January. Read: Negative reading for Philly Fed index in January. 
For every stock falling more than three gained on the New York Stock Exchange, where 710 million shares traded. Composite volume neared 3.7 billion. 

Moving issues

Dow gainers included Intel Corp. INTC -4.94% , up 2.6% after releasing fourth-quarter earnings just before the close. Read: Intel bulls should hope it made fewer chips. 
Cisco Systems Inc. CSCO -0.38%  fell 0.4% after J.P. Morgan reduced its rating to underweight from neutral. Read full story: Cisco cut as data-center business shifts. 
Bank of America Corp. BAC -0.09%  lost 4.2% after the lender reported a 63% decline in fourth-quarter profit. Read: Bank of America profit sinks 63%; billions in charges. 
Boeing Co. BA +1.24% shares rose 1.2%, reversing losses that came after U.S. regulators ordered its global fleet of 787 Dreamliners grounded after one of the planes made an emergency landing, the latest in a series of mishaps. 

Off the Dow, shares of CBS Corp. CBS +7.93%  jumped 7.9% after the media company said it would convert its outdoor advertising unit to a real-estate investment trust and would solicit a buyer for the Asian and European portions of that business. 

Citigroup Inc.’s C -2.92%  shares fell 2.9% after the bank reported a profit rise that came in below estimates. Read: Citigroup profit jumps but mortgage issues linger. 
EBay Inc. EBAY +0.04%  rose 2.4% after the online auctioneer reported revenue that exceeded some Wall Street estimates. Read: eBay, Juniper highlight gains for tech stocks. 
Shares of iPhone and iPad maker Apple Inc. AAPL -0.67%  slipped 0.7%. Apple’s shares are down 3.4% so far this week following concerns about demand for the iPhone 5. Read: Why Apple needs a new hit product now. 
The iPhone has recently assumed the boom-bust characteristics that have made investors especially jumpy. Read why Apple has been bruised by iPhone’s boom-bust cycle. 
Kate Gibson is a reporter for MarketWatch, based in New York. Follow her on Twitter @MWKateGibson.