Flu season puts businesses and employees in a bind

WASHINGTON (AP) — Nearly half the 70 employees at a Ford dealership in Clarksville, Ind., have been out sick at some point in the past month. It didn't have to be that way, the boss says.

"If people had stayed home in the first place, a lot of times that spread wouldn't have happened," says Marty Book, a vice president at Carriage Ford. "But people really want to get out and do their jobs, and sometimes that's a detriment."

The flu season that has struck early and hard across the U.S. is putting businesses and employees alike in a bind. In this shaky economy, many Americans are reluctant to call in sick, something that can backfire for their employers.

Flu was widespread in 47 states last week, up from 41 the week before, the Centers for Disease Control and Prevention said Friday. The only states without widespread flu were California, Mississippi and Hawaii. And the main strain of the virus circulating tends to make people sicker than usual.

Blake Fleetwood, president of Cook Travel in New York, says his agency is operating with less than 40 percent of its staff of 35 because of the flu and other ailments.

"The people here are working longer hours and it puts a lot of strain on everyone," Fleetwood says. "You don't know whether to ask people with the flu to come in or not." He says the flu is also taking its toll on business as customers cancel their travel plans: "People are getting the flu and they're reduced to a shriveling little mess and don't feel like going anywhere."

Many workers go to the office even when they're sick because they are worried about losing their jobs, says John Challenger, CEO of Challenger, Gray & Christmas, an employer consulting firm. Other employees report for work out of financial necessity, since roughly 40 percent of U.S. workers don't get paid if they are out sick. Some simply have a strong work ethic and feel obligated to show up.

Flu season typically costs employers $10.4 billion for hospitalization and doctor's office visits, according to the CDC. That does not include the costs of lost productivity from absences.

At Carriage Ford, Book says the company plans to make flu shots mandatory for all employees.

Linda Doyle, CEO of the Northcrest Community retirement home in Ames, Iowa, says the company took that step this year for its 120 employees, providing the shots at no cost. It is also supplying face masks for all staff.

And no one is expected to come into work if sick, she says.

So far, the company hasn't seen an outbreak of flu cases.

"You keep your fingers crossed and hope it continues this way," Doyle says. "You see the news and it's frightening. We just want to make sure that we're doing everything possible to keep everyone healthy. Cleanliness is really the key to it. Washing your hands. Wash, wash, wash."

Among other steps employers can take to reduce the spread of the flu on the job: holding meetings via conference calls, staggering shifts so that fewer people are on the job at the same time, and avoiding handshaking.

Newspaper editor Rob Blackwell says he had taken only two sick days in the last two years before coming down with the flu and then pneumonia in the past two weeks. He missed several days the first week of January and has been working from home the past week.

"I kept trying to push myself to get back to work because, generally speaking, when I'm sick I just push through it," says Blackwell, the Washington bureau chief for the daily trade paper American Banker.

Connecticut is the only state that requires some businesses to pay employees when they are out sick. Cities such as San Francisco and Washington have similar laws.

Challenger and others say attitudes are changing, and many companies are rethinking their sick policies to avoid officewide outbreaks of the flu and other infectious diseases.

"I think companies are waking up to the fact right now that you might get a little bit of gain from a person coming into work sick, but especially when you have an epidemic, if 10 or 20 people then get sick, in fact you've lost productivity," Challenger says.

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Associated Press writers Mike Stobbe in Atlanta, Eileen A.J. Connelly in New York, Paul Wiseman in Washington, Barbara Rodriguez in Des Moines, Iowa, and Jim Salter in St. Louis contributed to this report.

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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.

The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.

Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.

An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.

"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"What we're looking for is demand. Demand from small business owners, from consumers."

EARNINGS AND ECONOMIC EXPECTATIONS

Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.

Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.

Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.

The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.

Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.

HOUSING, INDUSTRIAL DATA ON TAP

Next week will also feature the release of a wide range of economic data.

Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.

Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.

Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.

"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."

POLITICAL ANXIETY

Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.

The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.

Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.

The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.

"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.

The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.

"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."

(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)

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Obama, Karzai accelerate end of U.S. combat role in Afghanistan

WASHINGTON (Reuters) - President Barack Obama and Afghan President Hamid Karzai agreed on Friday to speed up the handover of combat operations in Afghanistan to Afghan forces, raising the prospect of an accelerated U.S. withdrawal from the country and underscoring Obama's determination to wind down a long, unpopular war.

Signaling a narrowing of differences, Karzai appeared to give ground in talks at the White House on U.S. demands for immunity from prosecution for any American troops who stay in Afghanistan beyond 2014, a concession that could allow Obama to keep at least a small residual force there.

Both leaders also threw their support behind tentative Afghan reconciliation efforts with Taliban insurgents, endorsing the establishment of a Taliban political office in Qatar in hopes of bringing insurgents to inter-Afghan talks.

Outwardly, at least, the meeting appeared to be something of a success for both men, who need to show their vastly different publics they are making progress in their goals for Afghanistan. There were no signs of the friction that has frequently marked Obama's relations with Karzai.

Karzai's visit came amid stepped-up deliberations in Washington over the size and scope of the U.S. military role in Afghanistan once the NATO-led combat mission concludes at the end of 2014.

"By the end of next year, 2014, the transition will be complete," Obama said at a news conference with Karzai standing at his side. "Afghans will have full responsibility for their security, and this war will come to a responsible end."

The Obama administration has been considering a residual force of between 3,000 and 9,000 troops - far fewer than some U.S. commanders propose - to conduct counterterrorism operations and to train and assist Afghan forces.

A top Obama aide said this week that the administration does not rule out a complete withdrawal after 2014, a move that some experts say would be disastrous for the weak Afghan central government and its fledgling security apparatus.

Obama on Friday left open the possibility of that so-called "zero option" when he several times used the word "if" to suggest that a post-2014 U.S. presence was far from guaranteed.

Insisting that Afghan forces were "stepping up" faster than expected, Obama said Afghan troops would take over the lead in combat missions across the country this spring, rather than waiting until the summer as originally planned. NATO troops will then assume a "support role," he said.

"It will be a historic moment and another step toward full Afghan sovereignty," Obama said.

Obama said final decisions on this year's troop cuts and the post-2014 U.S. military role were still months away, but his comments suggested he favors a stepped-up withdrawal timetable.

There are some 66,000 U.S. troops currently in Afghanistan. Washington's NATO allies have been steadily reducing their troop numbers as well despite doubts about the ability of Afghan forces to shoulder full responsibility for security.

'WAR OF NECESSITY'

Karzai voiced satisfaction over Obama's agreement to turn over control of detention centers to Afghan authorities, a source of dispute between their countries, although the White House released no details of the accord on that subject.

Obama once called Afghanistan a "war of necessity." But he is heading into a second term looking for an orderly way out of the conflict, which was sparked by the September 11, 2001, attacks on the United States by an al Qaeda network harbored by Afghanistan's Taliban rulers.

He faces the challenge of pressing ahead with his re-election pledge to continue winding down the war while preparing the Afghan government to prevent a slide into chaos and a Taliban resurgence once most NATO forces are gone.

Former Senator Chuck Hagel, Obama's nominee to become defense secretary, is likely to favor a sizable troop reduction.

Karzai, meanwhile, is eager to show he is working to ensure Afghans regain full control of their territory after a foreign military presence of more than 11 years.

Asked whether the cost of the war in lives and money was worth it, Obama said: "We achieved our central goal ... or have come very close to achieving our central goal, which is to de-capacitate al Qaeda, to dismantle them, to make sure that they can't attack us again."

He added: "Have we achieved everything that some might have imagined us achieving in the best of scenarios? Probably not. This is a human enterprise, and you fall short of the ideal."

Obama made clear that unless the Afghan government agrees to legal immunity for U.S. troops, he would withdraw them all after 2014 - as happened in Iraq at the end of 2011.

Karzai, who criticized NATO over civilian deaths, said that with Obama's agreement to transfer detention centers and the planned withdrawal of U.S. forces from Afghan villages, "I can go to the Afghan people and argue for immunity" in a bilateral security pact being negotiated.

Addressing students at Georgetown University later in the day, the Afghan leader predicted with certainty that the United States would keep a limited number of troops in Afghanistan after 2014, in part to battle al Qaeda and its affiliates.

"One of the reasons the United States will continue a limited presence in Afghanistan after 2014 in certain facilities in Afghanistan is because we have decided together to continue to fight against al Qaeda," Karzai said. "So there will be no respite in that."

Many of Obama's Republican opponents have criticized him for setting a withdrawal timetable and accuse him of undercutting the U.S. mission by reducing troop numbers too quickly.

Karzai and his U.S. partners have not always seen eye to eye, even though the American military has been crucial to preventing insurgent attempts to oust him.

In October, Karzai accused Washington of playing a double game by fighting the war in Afghan villages instead of going after insurgents who cross the border from neighboring Pakistan.

In Friday's news conference, Karzai did not back down from his previous comments that foreigners were responsible for some of the official corruption critics say is rampant in Afghanistan. But he acknowledged: "There is corruption in the Afghan government that we are fighting against."

Adding to tensions has been a rash of deadly "insider" attacks by Afghan soldiers and police against NATO-led troops training or working with them. U.S. forces have also been involved in a series of incidents that enraged Afghans, including burning Korans, which touched off days of rioting.

(Additional reporting by Roberta Rampton, Mark Felsenthal, Jeff Mason, Phil Stewart, Tabassum Zakaria, David Alexander; Editing by Warren Strobel and Will Dunham)

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Baby Bones Found Scattered in Ancient Italian Village

SEATTLE — The death of an infant may not have been an occasion for mourning in ancient Italy, according to archaeologists who have found baby bones scattered on the floor of a workshop dating to the seventh century B.C.

The grisly finds consist of bone fragments uncovered over years of excavation at Poggio Civitate, a settlement about 15 miles (25 kilometers) from the city of Siena in what is now Tuscany. The settlement dates back to at least the late eighth century B.C. Archaeologists excavating the site have found evidence of a lavish residential structure as well as an open-air pavilion that stretches an amazing 170 feet (52 meters) long. Residents used this pavilion was as a workshop, manufacturing goods such as terracotta roof tiles.

In 1983, scientists uncovered a cache of bones on the workshop floor, consisting mostly of pig, goat and sheep remains. But among the bony debris was a more sobering find: two arm bones from an infant (or infants) who died right around birth.

In 2009, another baby bone surfaced at the workshop, this one a portion of the pelvis of a newborn. [See Images of the Infant Bones]

The bones “were either simply left on the floor of the workshop or ended up in an area with a concentration of discarded, butchered animals,” said Anthony Tuck, an archaeologist at the University of Massachusetts, Amherst, who presented an analysis of the bones Friday (Jan. 4) at the annual meeting of the Archaeological Institute of America.

Abandoned bones

The discovery of the discarded infant bones in an area used for work could suggest that the people who labored in the workshop had little social status, Tuck said. They may have been slaves or servants whose lost infants would garner little sympathy from the community at large.

However, a third find complicates the picture. In 1971, archaeologists found an arm bone from another newborn or near-term fetus pushed up against the wall of the lavish residence along with other bones and debris. It seems as if someone swept the debris up against the wall, not differentiating between baby bones and garbage, Tuck said. [8 Grisly Archaeological Discoveries]

There’s no way to know whose infant came to rest up against the wall of a wealthy person’s home, said Tuck, who plans to submit the findings to the journal Etruscan Studies. Perhaps the infant belonged to a desperate servant, or perhaps to a member of the family. If so, it may be that even high-status families didn’t consider babies worth mourning when they died in infancy.

The possibility can sound horrifying to modern ears, Tuck said.

“This kind of new data makes people a bit uncomfortable,” he told LiveScience. “People have a tendency to romanticize the past, especially in a place like Tuscany. When we have direct evidence for this kind of behavior, it can be a little tricky to present.”

Death in infancy

Nevertheless, Tuck said, there is reason to think that people have not always given infants the same community status as adults or older children. However, baby bones tend not to preserve well, which makes it difficult to know how ancient Italians in Tuscany treated their deceased infants.

Very few signs of infant burial appear in central Italian cemeteries from this time period, though, Tuck said. The handful of coffins containing baby bones that have been found are loaded with ornaments and jewelry, suggesting that only families of great wealth could have given a lost baby an adult-style funeral.

Even in modern times, societies have sometimes seen babies as belonging to a different category than adults, Tuck said. In areas of extreme poverty and stress that have high infant mortality, the death of a newborn may not trigger many outward displays of mourning, he said.

And many cultures have naming traditions that only recognize the baby’s identity significantly after birth. For example, in traditional Jewish culture, a baby boy’s name isn’t revealed outside the family until the bris, or the ritual of circumcision eight days after birth. According to superstition, naming the baby before then would attract the attention of the Angel of Death.

The Maasai people of Africa give their newborns temporary names until a ceremony as late as age 3, in which the child receives a new name and has his or her head shaved to symbolize a fresh start in life.

On the other hand, not all ancient cultures differentiate between the burials of babies and adults. Stone Age infant graves found in Austria in 2006 date back to 27,000 years ago and contain the same beads and pigments as adult gravesites.

The people who lived in Poggio Civitate more than 2,000 years ago have left little evidence of how they viewed infants, but Tuck and his colleagues expect more finds to emerge as the researchers continue to dig in the Tuscany hills. More evidence that high- and low-class babies were buried differently would suggest that the civilization had a rigid hierarchy, they said.

Images of more than 25,000 objects recovered from the site can be found at Open Context, an open-source research database developed by the Alexandra Archive Institute.

Follow Stephanie Pappas on Twitter @sipappas or LiveScience @livescience. We’re also on Facebook & Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Audrey Hepburn: Remembering the Private Legend

By Elizabeth McNeil

01/10/2013 at 07:35 PM EST

Audrey Hepburn with her son, Luca Dotti, in 1985

Audrey Hepburn Childrens Fund

She captivated the world with her doe-eyed beauty, but behind the Givenchy glamour, there was an Audrey Hepburn few people knew.

She thought her nose too big, her feet too large and her neck too long. She loved to shop for groceries (but not clothes), didn't wear makeup at home, never went to the gym and enjoyed two fingers of Scotch every night. 

"She was not this ethereal creature," says Robert Wolders, 76, the Dutch actor who was her companion for the last 13 years of her life. "She was an earthy woman with a ribald sense of humor."

What Hepburn had, adds Wolders, "was more than beauty. It was this extraordinary mystique."

Hepburn left Hollywood at age 34 at the height of her fame, moving into a 1732 farmhouse in Tolochenaz, a small Swiss village, where she found happiness raising two sons and purpose in her charity work for UNICEF. 

Two decades after her death from abdominal cancer at 63 on Jan. 20, 1993, her children and her last love remember the Audrey they adored. 

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Flu season strikes early and, in some places, hard

NEW YORK (AP) — From the Rocky Mountains to New England, hospitals are swamped with people with flu symptoms. Some medical centers are turning away visitors or making them wear face masks, and one Pennsylvania hospital set up a tent outside its ER to deal with the feverish patients.

Flu season in the U.S. has struck early and, in many places, hard.

While flu normally doesn't blanket the country until late January or February, it is already widespread in more than 40 states, with about 30 of them reporting some major hot spots. On Thursday, health officials blamed the flu for the deaths of 20 children so far.

Whether this will be considered a bad season by the time it has run its course in the spring remains to be seen.

"Those of us with gray hair have seen worse," said Dr. William Schaffner, a flu expert at Vanderbilt University in Nashville.

The evidence so far points to a moderate season, Schaffner and others say. It looks bad in part because last year was unusually mild and because the main strain of influenza circulating this year tends to make people sicker and really lay them low.

David Smythe of New York City saw it happen to his 50-year-old girlfriend, who has been knocked out for about two weeks. "She's been in bed. She can't even get up," he said.

Also, the flu's early arrival coincided with spikes in a variety of other viruses, including a childhood malady that mimics flu and a new norovirus that causes vomiting and diarrhea, or what is commonly known as "stomach flu." So what people are calling the flu may, in fact, be something else.

"There may be more of an overlap than we normally see," said Dr. Joseph Bresee, who tracks the flu for the Centers for Disease Control and Prevention.

Most people don't undergo lab tests to confirm flu, and the symptoms are so similar that it can be hard to distinguish flu from other viruses, or even a cold. Over the holidays, 250 people were sickened at a Mormon missionary training center in Utah, but the culprit turned out to be a norovirus, not the flu.

Flu is a major contributor, though, to what's going on.

"I'd say 75 percent," said Dr. Dan Surdam, head of the emergency department at Cheyenne Regional Medical Center, Wyoming's largest hospital. The 17-bed emergency room saw its busiest day ever last week, with 166 visitors.

The early onslaught has resulted in a spike in hospitalizations. To deal with the influx and protect other patients from getting sick, hospitals are restricting visits from children, requiring family members to wear masks and banning anyone with flu symptoms from maternity wards.

One hospital in Allentown, Pa., set up a tent this week for a steady stream of patients with flu symptoms. But so far "what we're seeing is a typical flu season," said Terry Burger, director of infection control and prevention for the hospital, Lehigh Valley Hospital-Cedar Crest.

On Wednesday, Boston declared a public health emergency, with the city's hospitals counting about 1,500 emergency room visits since December by people with flu-like symptoms.

All the flu activity has led some to question whether this year's flu shot is working. While health officials are still analyzing the vaccine, early indications are that it's about 60 percent effective, which is in line with what's been seen in other years.

The vaccine is reformulated each year, based on experts' best guess of which strains of the virus will predominate. This year's vaccine is well-matched to what's going around. The government estimates that between a third and half of Americans have gotten the vaccine.

In New York City, 57-year-old Judith Quinones skipped getting a flu shot this season and suffered her worst case of flu-like illness in years. She was laid up for nearly a month with fever and body aches. "I just couldn't function," she said.

But her daughter got the vaccine. "And she got sick twice," Quinones said.

Europe is also suffering an early flu season, though a milder strain predominates there. Flu reports are up, too, in China, Japan, the West Bank, the Gaza Strip, Algeria and the Republic of Congo. Britain has seen a surge in cases of norovirus.

On average, about 24,000 Americans die each flu season, according to the CDC. That's an estimate — the agency does not keep a running tally of adult flu deaths each year, only for children. Some state health departments do keep count, and they've reported dozens of flu deaths so far.

Flu usually peaks in midwinter. Symptoms can include fever, cough, runny nose, head and body aches and fatigue. Some people also suffer vomiting and diarrhea, and some develop pneumonia or other severe complications.

Most people with flu have a mild illness and can help themselves and protect others by staying home and resting. But people with severe symptoms should see a doctor. They may be given antiviral drugs or other medications to ease symptoms.

Flu vaccinations are recommended for everyone 6 months or older. Of the 20 children killed by the flu this season, only two were fully vaccinated.

___

AP Medical Writer Maria Cheng in London contributed to this report.

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Online:

CDC flu: http://www.cdc.gov/flu/index.htm

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Asian shares retreat after China CPI, yen slides

TOKYO (Reuters) - Asian shares fell on Friday as a pick-up in Chinese inflation prompted profit taking but underlying sentiment was supported by an improving outlook for global economies, while the yen slid on renewed expectations for bold monetary easing in Japan.

China's annual consumer inflation rate accelerated to a seven-month high of 2.5 percent in December on rising food prices, narrowing the scope for the central bank to boost the economy by easing monetary policy. The producer price index fell 1.9 percent in December from a year ago, marking the 10th consecutive month of decline, but improved from November's 2.2 percent annual drop.

Brent crude futures eased 0.3 percent to $111.60 a barrel and U.S. crude trimmed earlier rises to trade nearly flat.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.3 percent, erasing morning gains which brought the index near its highest level since August 2011 hit last week.

Shanghai shares <.ssec> fell 0.6 percent, dragging Hong Kong shares <.hsi> down into negative territory, while Seoul shares <.ks11> slipped 0.8 percent.

"It's not the end of the world. We have been trending in overbought territory for more than a week anyway, so this higher headline inflation is a trigger for some profit taking. We are in a consolidation phase," said Hong Hao, Bank of Communication International's chief equity strategist based in Hong Kong.

Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo, said the China inflation data offered some positive signs but, given the market's rapid rally over the past month, it was probably used as an excuse to book profits.

"The slight pickup in inflation is still well below the 3.5 percent forecast by China, and may also reflect recovery in consumption," he said, adding that the data was unlikely to significantly dent an overall trend in improving risk appetite.

Global markets rallied after China posted unexpectedly strong December trade numbers on Thursday, buoying hopes demand from the world's second-largest economy will rise.

World stock prices rose to an eight-month high on Thursday, with an encouraging view on the U.S. economy from a top Federal Reserve official driving the Standard & Poor's 500 index to its highest closing level in five years.

Reflecting growing confidence in equities markets, EPFR Global noted that equity mutual funds have brought in $6.8 billion of inflows over the last four business days, with equity flows exceeding bond flows.

In a sign of some stability, South Korea's central bank held interest rates steady for a third consecutive month on Friday as expected, to assess the effect from two cuts last year. However, the bank also revised down its outlook for South Korea's GDP growth in 2013 to 2.8 percent from 3.2 percent, which along with a sharp rise in the won hurt Seoul shares.

ABE FUELS NIKKEI BUYING

Japan's benchmark Nikkei stock average <.n225> climbed as much as 1.7 percent to a 23-month high as the yen accelerated its declines against the dollar and the euro. <.t/>

Prime Minister Shinzo Abe "is seen seriously committed to making the economy better as he is becoming more detailed, and investors are feeling it is possible under his government", said Kyoya Okazawa, head of global equities at BNP Paribas in Tokyo.

"While most macro funds have finished allocating Japan shares to their portfolios by the end of the year, we are getting inquiries from long-only funds which intend to pick up Japanese stocks on fundamentals."

Japan's cabinet approved on Friday an economic stimulus package in the biggest spending boost since the financial crisis as Abe pursues an ambitious agenda to spur growth and end stubborn deflation.

The dollar jumped to 89.35 yen, its highest since June 2010, on strengthening speculation Abe will exert strong pressure on the Bank of Japan to take much bolder measures to defeat deflation and stimulate the Japanese economy. The euro surged to 118.58 yen, its highest since May 2011.

The yen's latest slide came after Abe said in an interview with the Nikkei newspaper published on Friday that the BOJ should consider maximizing employment as a monetary policy goal to help boost the economy.

The yen selling also gained momentum after data on Friday showed Japan had logged a current account deficit in November for the first time in 10 months, as exports fell due to weak global demand and energy imports increased.

The deficit stood at 222.4 billion yen ($2.5 billion), overshooting a 3.5 billion yen deficit forecast.

Japanese financial markets will be closed on Monday for a public holiday.

EURO OPTIMISM

The European Central Bank on Thursday kept interest rates steady at 0.75 percent as expected, but its president Mario Draghi's comments offered a cautiously optimistic view.

The euro extended its gains on Friday to a one-week high of $1.3280.

Spain tapped markets on Thursday for its first bond sale of 2013, raising more money than expected at a lower borrowing cost than in a previous auction. Benchmark 10-year Spanish government bond yields fell to a 10-month low of 4.90 percent, somewhat easing investors' nerves about Spain's ability to manage its huge debts..

As the yen fell, Tokyo gold futures rallied to a record high on Friday to as high as 4,820 yen per gram, exceeding the previous record of 4,754 yen marked on September 7, 2011.

(Additional reporting by Ayai Tomisawa in Tokyo and Clement Tan in Hong Kong; Editing by Shri Navaratnam and Paul Tait)

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U.S., Afghanistan discuss "last chapter" in war aims: Panetta

WASHINGTON (Reuters) - U.S. Defense Secretary Leon Panetta and Afghan President Hamid Karzai discussed on Thursday the "last chapter" in building a sovereign Afghanistan that can provide its own security, including the nature of U.S. involvement after combat troops withdraw in 2014.

Panetta said he and Karzai made "very good progress" on the issues they discussed, but he declined to say whether they had agreed on the size of any residual U.S. force that would remain in Afghanistan to do counterterrorism operations and training once combat troops withdraw.

Panetta said both sides were committed to the goals approved at the NATO summit in Chicago in May, which calls for a continuing effort by members of the alliance to train, advise and assist Afghan forces. Karzai is scheduled to meet President Barack Obama on Friday for more talks on the remaining issues.

The Obama administration has been considering a residual force of between 3,000 and 9,000 troops in Afghanistan to conduct counterterrorism operations while providing training and assistance for Afghan forces. But the administration said this week it did not rule out a complete withdrawal after 2014.

While Karzai has been critical of U.S. troop activity in Afghanistan, it is unclear how Afghan forces would perform without U.S. helicopters, medical facilities, intelligence and other military support, of which Afghanistan has very little.

"After a long and difficult past, we finally are, I believe, at the last chapter of establishing ... a sovereign Afghanistan that can govern and secure itself for the future," Panetta told Karzai after a welcoming ceremony at the Pentagon that included an honor guard and 21-gun salute.

Panetta said 2013 would mark an important step in the war, with Afghans due to take over the lead role for security across the country.

"We've come a long way towards a shared goal of establishing a nation that you and we can be proud of, one that never again becomes a safe haven for terrorism," Panetta said. "Our partnership, forged ... through almost 11 years of shared sacrifice, is a key to our ability to achieve the final mission."

STRAINS IN RELATIONSHIP

Karzai's three-day visit to Washington follows a year of growing strains on the U.S.-Afghan partnership, including incidents in which Afghan soldiers or police attacked and killed U.S. or coalition troops. U.S. forces also were involved in a series of incidents that enraged Afghans, including burning Korans, which touched off days of rioting.

In addition to discussing the U.S. troop presence after 2014, the two countries are negotiating long-term support for the Afghan military. Afghan officials came with a list of military equipment, including aircraft, they hoped to obtain.

General Martin Dempsey, chairman of the Joint Chiefs of Staff, said he and Afghan Defense Minister Bismillah Khan Mohammadi discussed the equipment issue and agreed to start with a broader review of Afghanistan's threats and military needs.

"What we talked about yesterday was ... let's move beyond a wish list of equipment and start by discussing what is your vision for the future of the Afghan military against threats and requirements," Dempsey said.

"He was very open, very eager to enter into that kind of comprehensive strategic review, and from that will come ... a view of how to move from where they are today, which is clearly focused on counterinsurgency, to something they may wish to become in the future," he said.

Karzai, in remarks in Panetta's office, said he was confident that the two sides during his trip would "work out a modality for a bilateral security agreement" in the interests of both countries.

The United States is insisting on immunity for any U.S. troops that remain in Afghanistan. That question also may come up at Karzai's talks with Obama on Friday.

(Editing by Paul Simao and Peter Cooney)

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‘Liquipod’ takes smartphone waterproofing on the road

Amid a sea of Ultra-HD TVs, smart washing machines and various other gadgets, waterproofing expert Liquipel took to CES 2013 to make two announcements. The firm, which adds an interior and exterior waterproof nanocoating to cell phones, revealed a new and improved waterproofing material that is even more effective than its first-generation solution. Liquipel also unveiled its new “Liquipod,” a portable machine that can waterproof gadgets anywhere in the world while device owners wait, according to TechCrunch. Previously, Liquipel required customers to ship their handsets to the company’s offices for treatment.

[More from BGR: iPhone 5 now available with unlimited service, no contract on Walmart’s $ 45 Straight Talk plan]

This article was originally published on BGR.com

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Sandra Bullock Honored at People's Choice Awards for New Orleans Support

By Alison Schwartz

01/09/2013 at 10:45 PM EST

Sandra Bullock at the People's Choice Awards

Jason Merritt/Getty

Sandra Bullock took home big honors for her work in the Big Easy Wednesday night.

The People's Choice Awards crowned the Oscar-winning actress the favorite humanitarian for her career-spanning philanthropic efforts, including her dedication to New Orleans's Warren Easton Charter High School

"I'm not at all being modest when I say I'm not doing anything compared to what they do on a daily basis," Bullock, 48, told the crowd gathered at Los Angeles's Nokia Theatre.

Just six months after Hurricane Katrina hit in 2005, the actress showed her support by adopting the school, which sustained $4 million in damages during the storm. She donated hundreds of thousands of dollars for renovations, telling PEOPLE years later that she "felt such a profound need to do something for them."

Her generosity helped the charter school – the first public high school for boys in Louisiana – afford renovations, new band uniforms, athletic equipment and a new health clinic in a city that's close to her heart. After all, she adopted her son, Louis, from New Orleans in 2010 and also has a home in the Garden District.

She pointed to the tireless dedication of the school's students, teachers and tough principal. "I've seen her," she joked. "Yeah, you don't want to go into that office."

Bullock then gave a shout-out to her son, who was sick as home, she said.

"[The students] compete, but they never cut each other down," she added. "And all that happens not because it's easy, but because they do not allow themselves any other option than to succeed."

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