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Feb 14, 2013

NYT | Global Update February 14, 2013.: In Brazil, a Laboratory for Reversing Catholicism's Decline

The New York Times International Herald Tribune
February 14, 2013
Compiled 21:45 GMT

Global Update


In Brazil, a Laboratory for Reversing Catholicism's Decline

Some quarters of the Catholic Church in Brazil are confronting threats from evangelicalism and secularism by enlivening worship with charismatic practices.

Britain Says Equine Drug May Have Entered Food Chain

British officials said on Thursday that a banned substance commonly used in horses and potentially harmful to humans may have entered the food chain in small quantities.

Pistorius Charged With Murder in Shooting of Girlfriend

The paralympic champion Oscar Pistorius was charged with murder after his girlfriend, Reeva Steenkamp, was fatally shot in his home in Pretoria, according to South African police officials.

Video: Digital Artists Behind 'Life of Pi'

Melena Ryzik pays a visit to Rhythm & Hues, the production studio that created the Oscar-nominated visual effects for "Life of Pi."


Don't You Be My Valentine

Pakistan goes to war with the day of love.

Pope Says He Will Be 'Hidden to the World' in Retirement

Pope Benedict XVI took his leave of parish priests and clergy of the diocese of Rome and indicated that he would not hold a public role once his resignation becomes official on Feb. 28.
Marktl Am Inn Journal

Hitching a Name to a Star, Then Watching It Set

The German town where Pope Benedict XVI was born never prospered as much as it hoped from its famous son, and it seems likely to get even fewer visitors after he steps down.

South Korea Shows Military Muscle in Sparring With North

South Korea on Thursday staged large military drills and disclosed a new cruise missile capable of hitting any target in North Korea.

Buffett in $23 Billion Deal for Heinz, as Big Mergers Revive

Berkshire Hathaway, the conglomerate run by Warren Buffett, said it was teaming up with 3G, a Brazilian-backed firm, to acquire the iconic company.

Weighing Down Heinz With Debt

The buyout deal for Heinz will turn it into a much riskier company that will have to operate with a much larger amount of debt on its books.

John Kerry Potential Winner in Heinz Deal

Secretary of State John Kerry - married to Teresa Heinz Kerry, an heir to the Heinz ketchup fortune - held $3 million worth of shares in the company last year.

In High-Tech Japan, the Fax Machines Roll On

The reluctance to give up fax machines offers a revealing glimpse into an aging nation that can often seem quietly determined to stick to its tried-and-true ways.

Fresh From the Internet's Attic

Quirky fixtures of the Web sites from the early Internet, GIF files are enjoying a renaissance.

Cybercrime Network Based in Spain Is Broken Up

Europol, the European police agency, said that it had dismantled a successful cybercrime organization led by Russians who extorted money from computer users.

Ronaldo Leaves His Old Team in Awe

His soaring header against Manchester City saved a 1-1 tie for Real Madrid in the Champions League and left his old manager, Alex Ferguson, astonished.

Wambach a Winner in Her 200th Match

Abby Wambach scored on a diving header in the 51st minute, and the United States women's soccer team beat Scotland in a friendly in Nashville. The game was Wambach's 200th international match.

A Course That Woods Has Yet to Master

Tiger Woods made his first PGA Tour appearance as a teenager at Riviera Country Club, but he has not played a competitive round at Riviera since 2006. The course is one he now conspicuously avoids.

To Reduce Suicide Rates, New Focus Turns to Guns

Despite the attention on mass shootings and assault weapons, far more Americans die by turning firearms on themselves.

Small Crew Takes on Big Task of Towing Cruise Ship

A dedicated group of mariners is charged with bringing the Carnival Cruise Line ship Triumph into a terminal in Mobile, Ala., but a problem with a towline has delayed the journey.

Fugitive's Threats Against Police Drew Enormous Response

As many as 500 officers - roughly 5 percent of the Los Angeles Police Department - spent the last week protecting one another from Christopher J. Dorner, now believed dead.
Op-Ed Contributors

Aftermath of Revolution

The Arab uprisings confirm that revolutions often do not usher in democracy.
Op-Ed Columnist

The Success That Failed

The story of Salam Fayyad, the Palestinian prime minister, is a case study in wasted opportunity.
Op-Ed Columnist

The Real Obama

This is how politicians who needn't worry about re-election look: more like themselves.

DealBook P.M. Edition February14, 2013.: Buffett to Pay $23 Billion for Heinz, as Big Mergers Revive Home |Business Day| Video The New York Times

Thursday, February 14, 2013
Heinz will be sold to Berkshire Hathaway, the conglomerate controlled by Warren E. Buffett.
Buffett to Pay $23 Billion for Heinz, as Big Mergers Revive Berkshire Hathaway, the giant conglomerate run by Warren Buffett, is teaming up to buy the food giant with 3G, a Brazilian investment firm that already owns most of Burger King.
Heinz: A Bonanza for Independent Advisers The sale of H.J. Heinz to Berkshire Hathaway and 3G Capital is big in many ways -- the headline price of $23 billion, for one. But one notable fact is that most of the banks putting the deal together aren't bulge-bracket firms.
Graphic: The 10 Biggest Food Deals The food industry has long been a fertile area for deal activity. How does the acquisition of Heinz rank?
Teresa Heinz Kerry and John Kerry in 2004.
John Kerry Potential Winner in Heinz Deal Secretary of State John Kerry -- married to Teresa Heinz Kerry, an heir to the Heinz ketchup fortune -- held $3 million worth of shares in the company last year.
With Heinz Deal, an 'Elephant' for Berkshire When Berkshire Hathaway agreed to buy the H.J. Heinz Company on Thursday, the deal had some of the classic hallmarks of Warren E. Buffett. Here is a look at some of Berkshire's deals in recent years.
3G Capital took Burger King Holdings private in 2010.
The Brazilians Behind the Heinz Deal Warren E. Buffett's partner in the Heinz deal, the Brazilian-backed investment firm 3G Capital, has, like Mr. Buffett, shown a hankering for iconic American businesses.

Cardinal Health Buys Medical Supplier for $2 Billion Cardinal Health, the second-largest distributor of prescription drugs, is buying AssuraMed, a large medical supplier, in a deal aimed at expanding the business into the growing area of home health care.
Anheuser-Busch InBev, the maker of Budweiser, is trying to buy control of Grupo Modelo for $20.1 billion.
Anheuser-Busch InBev Revises Grupo Modelo Deal Anheuser-Busch InBev has revised its $20.1 billion deal for Grupo Modelo, the Mexican maker of Corona beer, as it seeks to persuade American antitrust authorities to let the deal proceed.
Asahi Sues 2 Private Equity Firms Over $1.3 Billion Deal The Asahi Group has accused two private equity firms of falsifying financial data when they sold New Zealand's Independent Liquor to Asahi in 2011.
BNP Paribas Earnings Fall on Write-Downs France's largest bank, BNP Paribas, reported a 33 percent decline in fourth-quarter profit, to $688 million, as it wrote down the value of its Italian unit and booked an accounting charge on its own debt.
Buzz Tracker
Former Co-Chief of BlackBerry Sells Off His Shares Jim Balsillie, the former co-chief executive and co-chairman of BlackBerry, has sold all of his shares in the struggling company, according to a regulatory filing, Ian Austen reports on the Bits blog of The New York Times.
Economic Reports Data to be released on Friday includes industrial production for January and the Thomson Reuters/University of Michigan consumer sentiment index for February.
Corporate Earnings Companies scheduled to report results on Friday include Kraft Foods.
Overseas On Friday and Saturday, finance ministers from the Group of 20 nations will meet in Moscow to discuss currencies and the European debt crisis.

Quotation of the Day
"This is my kind of deal and my kind of partner."
Warren E. Buffett on the $23 billion deal to buy Heinz.

MarketWatch | Wall Street at Close Report February 14, 2013.: Stocks mostly higher in tight trading range

By Wallace Witkowski and Polya Lesova, MarketWatch 

SAN FRANCISCO (MarketWatch)U.S. stocks finished mostly higher Thursday after another day of tight trading, but blue chips turned in their second day of losses, as investors mulled mixed economic data on a banner day for mergers and acquisitions. 

While both the Nasdaq Composite Index and the S&P 500 Index closed up fractionally at multiyear high levels, the Dow Jones Industrial Average DJIA -0.07%  fell 9.52 points, or less than 0.1%, to close at 
13,973.39. It’s the second day of losses for the Dow since it closed up above 14,000 on Tuesday. Shares of Coca-Cola Co. KO -0.99%  declined 1%, and led 16 out of 30 Dow components lower. 

Cisco Systems Inc. CSCO -0.71% shares finished down 0.7%. Cisco late Wednesday reported a small gain in earnings for its fiscal second quarter. See: Cisco earnings beat targets on small sales gain. 


Three stocks to watch Thursday
Markets reporter Chris Dieterich reports on a trio of stocks that have traders' attention on Thursday. 

President Obama talks to Their Felow Citizens live February 14, 2013.

U.S. President Obama talks  to their fellow citizens and gives an example of transparency and decency, that shows the world , beyond any political  agreement or disagreement you may have but  definitely, not a biased interest, at service of the economic and financial  status quo.

 Fernando Guzmán Cavero

Reuters | Deals Today February 14, 2013.: American Airlines, US Airways unveil $11 billion merger

American Airlines, US Airways unveil $11 billion merger

(Reuters) - American Airlines and US Airways Group said they plan to merge in a deal that will form the world's biggest air carrier with a combined equity value of $11 billion.

AB InBev revises Modelo deal to meet U.S. objections
BRUSSELS (Reuters) - Anheuser-Busch InBev , the world's largest brewer, has revised the terms of its $20.1 billion takeover of Mexican brewer Grupo Modelo to overcome U.S. government objections that it would have restricted competition.
Aberdeen buys Artio Global, stake in SVG Advisers
LONDON (Reuters) - British fund manager Aberdeen Asset Management has unveiled two acquisitions, a U.S. fund manager and a 50.1 percent stake in an international private equity business, to buy its way into new markets.

Drinks firms AG Barr, Britvic aim to keep merger alive
LONDON (Reuters) - Soft drink firms Britvic and A.G. Barr said they would work together to keep their proposed merger, worth about 1.6 billion pounds, alive after the deal was referred to Britain's Competition Commission.

Wall Street Cautious As Eurozone GDP Disappoints: RTTNews | U.S. Market Commentary February 14, 2013.

US Market Commentary

Wall Street Cautious As Eurozone GDP Disappoints

Wall Street Cautious As Eurozone GDP Disappoints
2/14/2013 6:32 AM ET
Wall Street's resilience may be shaken by weak GDP data from eurozone nations, as indicated by the U.S. index futures, which point to a slightly lower open. Asian stocks capitalized on domestic earnings and currency weakness, while European stocks are trading lower. The domestic markets could react to earnings from blue chip companies such as PepsiCo. (PEP) and General Motors even as earnings from networking giant (CSCO) released yesterday after the market close elicited lukewarm reaction. Traders may also chose to focus on the jobless claims report and Fed speeches scheduled for the day.

As of 6:30 pm ET, the Dow futures are moving down 72 points and the S&P 500 futures are receding 6.50 points, while the Nasdaq 100 futures are declining 13.25 points.

On the economic front, the Labor Department is scheduled to release its weekly jobless claims report for the week ended February 9th at 8:30 am ET. Economists expect claims to decline to 360,000 in the week from 366,000 in the previous week.

Federal Reserve Governor Daniel Tarullo, Treasury Under Secretary Mary Miller and other top officials are scheduled to testify before the Senate Banking Committee on Wall Street reform at 10:30 am ET. St. Louis Federal Reserve Bank President James Bullard will speak on the economy and monetary policy to Mississippi State University at 12:50 pm ET.

Eurozone Shrinks Most Since 2009; Recession Deepens: RTTNews Forex Top Stories February 14, 2013.

Forex Top Story

eurogdp-021413.jpg The Eurozone contracted the most since the first quarter of 2009, after the unresolved sovereign debt crisis took its toll even on the economic powerhouse Germany. Gross domestic product declined at a faster-than-expected pace of 0.6 percent, much bigger than the previous quarter's 0.1 percent fall, flash estimates from Eurostat showed Thursday.
germangdp-021413.jpg Denting further Eurozone's recovery hopes, the German and French economies shrank more than expected in the final three months of 2012 amid falling exports and investment, preliminary data revealed Thursday. Germany's gross domestic product fell 0.6 percent quarter-on-quarter on a seasonally and calendar- adjusted basis in the fourth quarter, the Federal Statistical Office or Destatis said.
inflation-021413.jpg India's inflation fell to the lowest level in more than three years in January, boosting hopes for another reduction in interest rates amid slowing growth. The wholesale price inflation dropped to 6.62 percent from 7.18 percent in December, data from the Ministry of Commerce and Industry showed Thursday. Economists had expected headline inflation to ease to 6.98 percent.

DealBook Today's Top Headlines.:February 14, 2013. : American and US Airways Announce $11 Billion Merger | Time Warner Considers Spinning Off Magazines | SAC Capital Manager Awaits Word on Charges | Revised Terms in Beer Deal

If you have trouble reading this e-mail, please click here Home |Business Day| Video The New York Times

Thursday, February 14, 2013
In First Disclosure, Getco Reports Years of Sagging Profit Getco, the privately held high-frequency trading firm, released its financial results for the first time as part of its impending purchase of Knight Capital Group.
General Electric to Return Cash to Shareholders Reuters reports: "General Electric Co expects to return about $18 billion to investors this year in share buybacks and dividends as it sells its remaining stake in NBCUniversal."
Standard Life Said to Be in Talks to Buy Unit of Newton Investment Management Standard Life of Britain is in "exclusive discussions" to buy the wealth management division of Newton Investment Management for up to roughly $140 million, according to The Telegraph.
An Expensive but Logical Cable Deal The revelation that Vodafone of Britain is looking at Germany's biggest cable operator has understandably unnerved its shareholders, Quentin Webb of Reuters Breakingviews writes.
Rio Tinto Reports Loss for 2012
BNP Paribas Earnings Fall on Write-Downs France's largest bank, BNP Paribas, reported a 33 percent decline in fourth-quarter profit, to $688 million, as it wrote down the value of its Italian unit and booked an accounting charge on its own debt.
Meet the Morgan Stanley C.F.O. Candidates Among the leading internal candidates are said to be Paul Wirth, Jonathan Pruzan, Dan Simkowitz and James A. Rosenthal.
Bank of America's Continuing Legal Troubles The Wall Street Journal's Heard on the Street column writes: "Bank of America's stock is on a tear, but one trend hasn't been its friend: legal decisions in disputes over mortgages guaranteed by bond insurers or sold to investors."

Asahi Sues 2 Private Equity Firms Over $1.3 Billion Deal Asahi has accused two Asia-Pacific buyout firms of falsifying financial data when they sold New Zealand's Independent Liquor to the Japanese beermaker in 2011.
Rubenstein of Carlyle Compares Congress to Panda Bears
Hedge Funds Said to Profit on Bets Against the Yen The Wall Street Journal reports: "George Soros, who made a fortune shorting the British pound in the 1990s, has scored gains of almost $1 billion on the trade since November, according to people with knowledge of the firm's positions. Others reaping big trading profits by riding the yen down include David Einhorn's Greenlight Capital, Daniel Loeb's Third Point LLC and Kyle Bass's Hayman Capital Management LP, investors say."
Omega Advisors Sold Apple Stake in 4th Quarter
Investors Said to Pull $1 Billion From Winton Capital

London Exchange Eases Rules for Fast-Growing Companies The Wall Street Journal reports: "The London Stock Exchange is launching a new niche market targeting high-growth companies and allowing them to float."
Real Estate Trust Rises in Japan Debut A real estate investment trust run by Prologis, a San Francisco-based owner of industrial buildings, jumped 24 percent in trading in Tokyo after raising about $1 billion, Bloomberg News reports.
Online Lender Attracts $42 Million On Deck Capital, which offers loans to small businesses online, raised a round of financing led by Institutional Venture Partners.
Partner at Google Ventures Discusses V.C. Market
Repercussions of an Italian Bank Scandal The emergence of a scandal at Monte dei Paschi di Siena "raises persistent questions about transparency in Italian business and why Italy's third-largest bank by assets was allowed to rack up risk for so long so that it became a systemic threat in the heat of the sovereign crisis," The Financial Times writes.
Regulator Explains Decision to End Flawed Foreclosure Review Thomas J. Curry, the comptroller of the currency, shed light on the recent decision to scuttle an independent review of bank foreclosures, portraying the flawed process as a boon to outside consultants and a barren maze for homeowners.
Nominee for Treasury Secretary Fields Questions From Senators The New York Times reports: "Jacob J. Lew, President Obama's nominee for Treasury secretary, faced some fierce questioning on Wednesday from the Senate Finance Committee on his tenure at the bailed-out Citigroup and on an investment based in the Cayman Islands. But the even-tempered, bookish Mr. Lew parried the blows and appeared likely to win the committee's approval and Senate confirmation."
Keeping the Libor Process Intact "Several banks planned to withdraw from the panel that sets a key benchmark interest rate but scrapped the idea after the U.K.'s financial regulator strongly warned them against doing so, according to people familiar with the matter," The Wall Street Journal reports.
Madoff Trustee Looks to Distribute $505 Million to Victims