Asia stocks eke out gains on China hopes, oil eases

HONG KONG (Reuters) - Most Asian stock markets edged higher on Thursday on hopes of a steady economic revival in China although oil gave back some of the previous session's strong gains as investors took some money off the table and braced for more U.S. budget battles.


The MSCI Asia Pacific ex-Japan index of stocks <.miapj0000pus> was up 0.3 percent following Wednesday's 2 percent jump on relief that U.S. politicians had averted the "fiscal cliff". Japan's Nikkei 225 <.n225> rose 0.7 percent.


Data from China showing the services sectors expanded in December continued to underpin expectations of an economic recovery that has helped spur a strong rally in Hong Kong-listed Chinese shares <.hsce> over the past month.


The China Enterprises index <.hsce> rose 0.4 percent while Hong Kong's Hang Seng index <.hsce> was up 0.2 percent and hovered near its highest since June 2011.


"China looks like its improving at the margin and the market has momentum that could last for at least a few months," said Christian Keilland, head of trading at BTIG in Hong Kong.


"Investors seem to have accepted that reforms are underway but they're going to happen at a slower pace," said Keilland.


Onshore Chinese markets will resume trading in the new year on Friday.


Australian stocks <.axjo> rose for a second straight day and were up 0.6 percent at a 19-month high, with mining giants Rio Tinto up 2 percent and BHP Billiton up 0.5 percent, among the top boosts on the benchmark index.


But South Korea's Kospi <.ks11> underperformed the region, falling 0.4 percent as automakers and exporters slumped on a stronger Korean won, which hit a 16-month high against the dollar overnight.


In other currency markets, the Japanese yen bounced after hitting a 29-month low versus the dollar earlier in the day but analysts warned that any strength is likely to be short-lived.


"Technically dollar/yen looks somewhat overbought here. It's gone a long way in a very short time," said Callum Henderson, global head of FX research for Standard Chartered Bank in Singapore, adding that the dollar could see some consolidation in the near term before heading higher.


The euro which in overnight trading was close to a 8-1/2 month high against the dollar, slipped 0.1 percent.


The U.S. dollar rose 0.3 percent <.dxy> against a basket of major currencies.


President Barack Obama and congressional Republicans face even bigger budget battles in the next two months after the hard-fought deal halted a round of automatic fiscal tightening that threatened to push the world's largest economy into recession.


Strength in the dollar and profit-taking pushed oil prices lower with Brent crude slipping below $112 a barrel and U.S. crude futures down 57 cents to $92.55.


"After the initial excitement, reality sets in," said Victor Shum, oil consultant at IHS Purvin & Gertz. "There will be other negotiations and the deal is a compromise."


(Reporting by Vikram Subhedar; Editing by Kim Coghill)



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Central African Republic rebels halt advance, agree to peace talks


DAMARA, Central African Republic (Reuters) - Rebels in Central African Republic said they had halted their advance on the capital on Wednesday and agreed to start peace talks, averting a clash with regionally backed troops.


The Seleka rebels had pushed to within striking distance of Bangui after a three-week onslaught and threatened to oust President Francois Bozize, accusing him of reneging on a previous peace deal and cracking down on dissidents.


Their announcement on Wednesday gave the leader only a limited reprieve as the fighters told Reuters they might insist on his removal in the negotiations.


"I have asked our forces not to move their positions starting today because we want to enter talks in (Gabon's capital) Libreville for a political solution," said Seleka spokesman Eric Massi, speaking by telephone from Paris.


"I am in discussion with our partners to come up with proposals to end the crisis, but one solution could be a political transition that excludes Bozize," he said.


Bozize on Wednesday sacked his Army Chief of Staff and took over the defense minister's role from his son, Jean Francis Bozize, according to a decree read on national radio, a day after publicly criticizing the military for failing to repel the rebels.


The advance by Seleka, an alliance of mostly northeastern rebel groups, was the latest in a series of revolts in a country at the heart of one of Africa's most turbulent regions - and the most serious since the Chad-backed insurgency that swept Bozize to power in 2003.


Diplomatic sources have said talks organized by central African regional bloc ECCAS could start on January 10. The United States, the European Union and France have called on both sides to negotiate and spare civilians.


Central African Republic is one of the least developed countries in the world despite its deposits of gold, diamonds and other minerals. French nuclear energy group Areva mines the country's Bakouma uranium deposit - France's biggest commercial interest in its former colony.


RELIEF IN BANGUI


News of the rebel halt eased tension in Bangui, where residents had been stockpiling food and water and staying indoors after dark.


"They say they are no longer going to attack Bangui, and that's great news for us," said Jaqueline Loza in the crumbling riverside city.


ECCAS members Chad, Congo Republic, Gabon and Cameroon have sent hundreds of soldiers to reinforce CAR's army after a string of rebel victories since early December.


Gabonese General Jean Felix Akaga, commander of the regional force, said his troops were defending the town of Damara, 75 km (45 miles) north of Bangui and close to the rebel front.


"Damara is a red line not to be crossed ... Damara is in our control and Bangui is secure," he told Reuters. "If the rebellion decides to approach Damara, they know they will encounter a force that will react."


Soldiers armed with Kalashnikovs, rocket propelled grenade launchers and truck-mounted machineguns had taken up positions across the town, which was otherwise nearly-abandoned.


Some of the fighters wore turbans that covered their faces and had charms strung around their necks and arms meant to protect them against enemy bullets.


Chad's President Idriss Deby, one of Bozize's closest allies, had warned the rebels the regional force would confront them if they approached the town.


Chad provided training and equipment to the rebellion that brought Bozize to power by ousting then-president Ange Felix Patasse, who Chad accused of supporting Chadian dissidents.


Chad is also keen to keep a lid on instability in the territory close to its main oil export pipeline and has stepped in to defend Bozize against insurgents in the past.


A CAR government minister told Reuters the foreign troop presence strengthened Bozize's bargaining position ahead of the Libreville peace talks.


"The rebels are now in a position of weakness," the minister said, asking not to be named. "They should therefore stop imposing conditions like the departure of the president."


Central African Republic is one of a number of countries in the region where U.S. Special Forces are helping local soldiers track down the Lord's Resistance Army, a rebel group which has killed thousands of civilians across four nations.


France has a 600-strong force in CAR to defend about 1,200 of its citizens who live there.


Paris used air strikes to defend Bozize against a rebellion in 2006. But French President Francois Hollande turned down a request for more help, saying the days of intervening in other countries' affairs were over.


(Additional reporting by Paul-Marin Ngoupana in Bangui and Jon Herskovitz in Johannesburg; Writing by Richard Valdmanis; Editing by Andrew Heavens and Janet Lawrence)



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Armed robbers hit Paris Apple store






PARIS (Reuters) – Armed robbers targeted an Apple Inc store in central Paris on New Year’s Eve, taking thousands of euros (dollars) worth of goods, a police official said on Tuesday.


The robbery took place at about 9 p.m. (1900 GMT) on Monday, three hours after closing time at one of Apple‘s flagship stores behind the Paris Opera which sells products ranging from iPhones and iPads to Mac computers.






The police official declined to comment on reports the thieves walked away with about 1 million euros ($ 1.32 million) of loot, saying the company was still evaluating the loss.


Christophe Crepin from the police union UNSA told reporters four masked and armed individuals forced their way into the shop and afterwards escaped in a van.


“They were well prepared. As the majority of police were busy watching the Champs Elysees (for New Year’s Eve celebrations), the robbers took advantage of this opportunity,” he said.


($ 1 = 0.7585 euros)


(Reporting By Thierry Leveque and John Irish; Editing by Michael Roddy)


Tech News Headlines – Yahoo! News





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Brain image study: Fructose may spur overeating


This is your brain on sugar — for real. Scientists have used imaging tests to show for the first time that fructose, a sugar that saturates the American diet, can trigger brain changes that may lead to overeating.


After drinking a fructose beverage, the brain doesn't register the feeling of being full as it does when simple glucose is consumed, researchers found.


It's a small study and does not prove that fructose or its relative, high-fructose corn syrup, can cause obesity, but experts say it adds evidence they may play a role. These sugars often are added to processed foods and beverages, and consumption has risen dramatically since the 1970s along with obesity. A third of U.S. children and teens and more than two-thirds of adults are obese or overweight.


All sugars are not equal — even though they contain the same amount of calories — because they are metabolized differently in the body. Table sugar is sucrose, which is half fructose, half glucose. High-fructose corn syrup is 55 percent fructose and 45 percent glucose. Some nutrition experts say this sweetener may pose special risks, but others and the industry reject that claim. And doctors say we eat too much sugar in all forms.


For the study, scientists used magnetic resonance imaging, or MRI, scans to track blood flow in the brain in 20 young, normal-weight people before and after they had drinks containing glucose or fructose in two sessions several weeks apart.


Scans showed that drinking glucose "turns off or suppresses the activity of areas of the brain that are critical for reward and desire for food," said one study leader, Yale University endocrinologist Dr. Robert Sherwin. With fructose, "we don't see those changes," he said. "As a result, the desire to eat continues — it isn't turned off."


What's convincing, said Dr. Jonathan Purnell, an endocrinologist at Oregon Health & Science University, is that the imaging results mirrored how hungry the people said they felt, as well as what earlier studies found in animals.


"It implies that fructose, at least with regards to promoting food intake and weight gain, is a bad actor compared to glucose," said Purnell. He wrote a commentary that appears with the federally funded study in Wednesday's Journal of the American Medical Association.


Researchers now are testing obese people to see if they react the same way to fructose and glucose as the normal-weight people in this study did.


What to do? Cook more at home and limit processed foods containing fructose and high-fructose corn syrup, Purnell suggested. "Try to avoid the sugar-sweetened beverages. It doesn't mean you can't ever have them," but control their size and how often they are consumed, he said.


A second study in the journal suggests that only severe obesity carries a high death risk — and that a few extra pounds might even provide a survival advantage. However, independent experts say the methods are too flawed to make those claims.


The study comes from a federal researcher who drew controversy in 2005 with a report that found thin and normal-weight people had a slightly higher risk of death than those who were overweight. Many experts criticized that work, saying the researcher — Katherine Flegal of the Centers for Disease Control and Prevention — painted a misleading picture by including smokers and people with health problems ranging from cancer to heart disease. Those people tend to weigh less and therefore make pudgy people look healthy by comparison.


Flegal's new analysis bolsters her original one, by assessing nearly 100 other studies covering almost 2.9 million people around the world. She again concludes that very obese people had the highest risk of death but that overweight people had a 6 percent lower mortality rate than thinner people. She also concludes that mildly obese people had a death risk similar to that of normal-weight people.


Critics again have focused on her methods. This time, she included people too thin to fit what some consider to be normal weight, which could have taken in people emaciated by cancer or other diseases, as well as smokers with elevated risks of heart disease and cancer.


"Some portion of those thin people are actually sick, and sick people tend to die sooner," said Donald Berry, a biostatistician at the University of Texas MD Anderson Cancer Center in Houston.


The problems created by the study's inclusion of smokers and people with pre-existing illness "cannot be ignored," said Susan Gapstur, vice president of epidemiology for the American Cancer Society.


A third critic, Dr. Walter Willett of the Harvard School of Public Health, was blunter: "This is an even greater pile of rubbish" than the 2005 study, he said. Willett and others have done research since the 2005 study that found higher death risks from being overweight or obese.


Flegal defended her work. She noted that she used standard categories for weight classes. She said statistical adjustments were made for smokers, who were included to give a more real-world sample. She also said study participants were not in hospitals or hospices, making it unlikely that large numbers of sick people skewed the results.


"We still have to learn about obesity, including how best to measure it," Flegal's boss, CDC Director Dr. Thomas Frieden, said in a written statement. "However, it's clear that being obese is not healthy - it increases the risk of diabetes, heart disease, cancer, and many other health problems. Small, sustainable increases in physical activity and improvements in nutrition can lead to significant health improvements."


___


Online:


Obesity info: http://www.cdc.gov/obesity/data/trends.html


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


Mike Stobbe can be followed at http://twitter.com/MikeStobbe


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Asia stocks at five-month high as fiscal cliff crisis ends

HONG KONG (Reuters) - Asian stocks hit a five-month high and the dollar fell as a last-minute deal ended the U.S. "fiscal cliff" crisis that threatened a U.S. recession and roiled world financial markets.


The U.S. Congress approved a rare tax increase on Tuesday that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into recession.


Early on Tuesday the U.S. Senate passed a bill that aims to avoid the cliff's automatic implementation of $600 billion in spending cuts and tax increases.


The bill's passage in Congress allayed earlier concerns over complaints from a number of Republicans that spending cuts were still not adequately addressed.


Asian stock markets cheered the developments as a major risk for investors, namely a slump in global growth, appeared to have receded for now.


The MSCI Asia Pacific ex-Japan index of stocks <.miapj0000pus> jumped 1.7 percent. Chinese shares in Hong Kong <.hsce> jumped 2.9 percent as last month's rally spilled over into the new year.


"If the fog caused by the fiscal cliff disappears, there will probably be moves toward putting risk back on," said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore.


In South Korea, where data showed manufacturing activity rose for the first time in seven months in December, the KOSPI index <.ks11> was up 1.5 percent.


Asian stocks outside Japan rose nearly 20 percent last year as a combination of improving economic data from China, easing worries about a euro zone blow-up, and global central bank easing that encouraged investors back into equity markets.


Sakthi Siva, Asia strategist for Credit Suisse, said in a note to clients that 2013 could see similar returns for Asian equities, given a solution to the fiscal crisis.


"As we move into 2013 we retain our bullish bias, and our theme is whether markets could catch up with earnings," said Siva, adding that markets in China and India could offer the most upside given the mismatch between index levels and earnings expectations.


OIL, EURO UP


Risky assets across the board got a lift with crude oil futures up 0.8 percent and copper futures in London jumping 1.7 percent.


The euro rose to $1.3267 against the U.S. dollar.


The safe-haven U.S. dollar edged lower, falling 0.4 percent against a basket of major currencies <.dxy>.


The Australian dollar, a currency that tends to benefit when optimism about the outlook for the global economy increases, rose to $1.0470.


The Japanese yen continued its slide as investors wagered the Bank of Japan would have to take ever-more aggressive easing steps to support the economy and satisfy the new government.


The yen fell to 87.17 against the dollar to its weakest level since July 2010.


The Japanese currency also dropped to depths not seen in more than four years against the Australian and New Zealand dollars.


(Additional reporting by Wayne Cole in SYDNEY and Masayuki Kitano in SINGAPORE; Editing by Eric Meijer)



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At least 61 crushed to death in Ivory Coast stampede


ABIDJAN (Reuters) - At least 61 people were crushed to death in a stampede after a New Year's Eve fireworks display at a stadium in Ivory Coast's main city Abidjan early on Tuesday, officials said.


Witnesses said police had tried to control crowds around the Felix Houphouet-Boigny Stadium following the celebrations, triggering a panic in which scores were trampled.


"The estimate we can give right now is 49 people hospitalized ... and 61 people dead," said the chief of staff of Abidjan's fire department Issa Sacko.


Crying women searched for missing family members outside the stadium on Tuesday morning. The area was covered in patches of dried blood and abandoned shoes.


"My two children came here yesterday. I told them not to come but they didn't listen. They came when I was sleeping. What will I do?" said Assetou Toure, a cleaner.


Sanata Zoure, a market vendor injured in the incident, said New Year's revelers going home after watching the fireworks had been stopped by police near the stadium.


"We were walking with our children and we came upon barricades, and people started falling into each other. We were trampled with our children," she said.


Another witness said police arrived to control the crowd after a mob began chasing a pickpocket.


President Alassane Ouattara called the deaths a national tragedy and said an investigation was under way to find out what happened.


"I hope that we can determine what caused this drama so that we can ensure it never happens again," he said after visiting the injured in hospital.


The country, once a stable economic hub for West Africa, is struggling to recover from a 2011 civil war in which more than 3,000 people were killed.


Ivory Coast's security forces once were among the best trained in the region, but a decade of political turmoil and the 2011 war has left them in disarray.


At least 18 people were killed in another stampede during a football match in an Abidjan stadium in 2009.


(Reporting by Loucoumane Coulibaly and Alain Amontchi; Writing by Richard Valdmanis; Editing by Michael Roddy)



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Movers roundup: Facebook, Best Buy






Among the stock activity stories for Monday, Dec. 31, from AP Business News:


— Shares of Facebook Inc. rose after an analyst said advertising spending was picking up on the Internet social network and raised his rating on its stock.






— Shares of Best Buy Co. rose on light volume as the struggling electronics retailer closed out a rocky year.


— Shares of Duff & Phelps Corp. rose on news that the company had agreed to be acquired.


Social Media News Headlines – Yahoo! News





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Eric Prydz Picks a New Year's Eve Playlist















12/31/2012 at 06:50 PM EST



Unfortunately not everyone can be in Las Vegas when the ball drops this year, but Eric Prydz is bringing the party to PEOPLE.com readers in advance.

The DJ and producer, 36 – best known for his 2004 hit single, "Call on Me" – is playing a three-hour extended set at Surrender Nightclub on Monday, and he's sharing the tracks he's most excited to spin, including songs from his album, Eric Prydz Presents Pryda.

"I love to play on New Year's Eve because it has that special tension in the air," Prydz says. "People are so excited about the new year coming, leaving the old behind and starting fresh. It's also the perfect excuse to blow off some steam after that long Christmas with family. Let's make New Year's Eve 2013 one to remember!"

Recently scoring a Grammy nomination for his remix of M83's "Midnight City," Prydz, who is relocating to Los Angeles, already predicts 2013 "is going to be an amazing year."

As for his evening playlist, he plans to "blend a lot of the highlights from the past year with classics and brand new music set to blow up in 2013."

Check out part of his planned set below:

Jeremy Olander – "Let Me Feel"
"This tune has spring/summer of 2013 written all over it. It's such a feel good track!"
Listen here

Fehrplay – "I Can't Stop It"
"Fehrplay had a great year in 2012 and is set to blow up in 2013. This is his forthcoming single on my Pryda Friends imprint. The first time I heard this record, it took me somewhere really nice."
Listen here

Rone – "Parade (Dominik Eulberg Remix)"
"Every now and then there is a track that comes along and blows your mind. This is one of those tracks. Nine minutes of pure emotion."
Listen here

Eric Prydz – "Every Day"
"This one has been huge for me this summer and fall. Enough said."
Listen here

Pachanga Boys – "Time"
"This was the soundtrack of my summer 2012. And I'm sure I'm not alone on that one."
Listen here

Para One – "When the Night (Breakbot Remix)"
"I've been a fan of Para One's music for many years and this one is no exception. This song has a great retro vibe with a modern touch from Breakbot on this remix."
Listen here

Pig & Dan – "Savage"
"This is a real club stomper. I can't wait to play this one out."
Listen here

Pryda – "The End"
"I had to throw this one in. It's one of the biggest releases on Pryda to date."
Listen here

Green Velvet & Harvard Bass – "Lazer Beams"
"Hit me with those laser beams!"
Listen here.

Deetron feat. Hercules & Love Affair – "Crave (Deetron cRAVE Dub)"
"This song is a dark, big room destroyer."
Listen here

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Clinton's blood clot an uncommon complication


The kind of blood clot in the skull that doctors say Hillary Rodham Clinton has is relatively uncommon but can occur after an injury like the fall and concussion the secretary of state was diagnosed with earlier this month.


Doctors said Monday that an MRI scan revealed a clot in a vein in the space between the brain and the skull behind Clinton's right ear.


The clot did not lead to a stroke or neurological damage and is being treated with blood thinners, and she will be released once the proper dose is worked out, her doctors said in a statement.


Clinton has been at New York-Presbyterian Hospital since Sunday, when the clot was diagnosed during what the doctors called a routine follow-up exam. At the time, her spokesman would not say where the clot was located, leading to speculation it was another leg clot like the one she suffered behind her right knee in 1998.


Clinton had been diagnosed with a concussion Dec. 13 after a fall in her home that was blamed on a stomach virus that left her weak and dehydrated.


The type of clot she developed, a sinus venous thrombosis, "certainly isn't the most common thing to happen after a concussion" and is one of the few types of blood clots in the skull or head that are treated with blood thinners, said neurologist Dr. Larry Goldstein. He is director of Duke University's stroke center and has no role in Clinton's care or personal knowledge of it.


The area where Clinton's clot developed is "a drainage channel, the equivalent of a big vein inside the skull — it's how the blood gets back to the heart," Goldstein explained.


It should have no long-term consequences if her doctors are saying she has suffered no neurological damage from it, he said.


Dr. Joseph Broderick, chairman of neurology at the University of Cincinnati College of Medicine, also called Clinton's problem "relatively uncommon" after a concussion.


He and Goldstein said the problem often is overdiagnosed. They said scans often show these large "draining pipes" on either side of the head are different sizes, which can mean blood has pooled or can be merely an anatomical difference.


"I'm sure she's got the best doctors in the world looking at her," and if they are saying she has no neurological damage, "I would think it would be a pretty optimistic long-term outcome," Broderick said.


A review article in the New England Journal of Medicine in 2005 describes the condition, which more often occurs in newborns or young people but can occur after a head injury. With modern treatment, more than 80 percent have a good neurologic outcome, the report says.


In the statement, Clinton's doctors said she "is making excellent progress and we are confident she will make a full recovery. She is in good spirits, engaging with her doctors, her family, and her staff."


___


Online:


Medical journal: http://dura.stanford.edu/Articles/Stam_NEJM05.pdf


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Senate to vote on "fiscal cliff" deal as deadline approaches


WASHINGTON (Reuters) - The White House and Senate leaders struck a bipartisan deal on Monday to try to avoid a "fiscal cliff" budget crisis, although the agreement was likely to face stiff challenges in the House of Representatives.


Senators were due to vote on the accord before midnight (0500 GMT Tuesday) and independent Senator Joe Lieberman said it had strong support from the Democrats who control the chamber.


The agreement still came too late for Congress to meet its own deadline of New Year's Eve to pass laws halting $600 billion in tax hikes and spending cuts due to come into force on January 1.


But with Tuesday a holiday, Congress still had time to draw up legislation, approve it and backdate it to avoid the harsh fiscal measures coming into force.


That will need the backing of the House where many of the Republicans who control the chamber complain that President Barack Obama has shown little interest in cutting government spending to try to reduce the U.S. budget deficit.


House Republicans are also likely to balk at planned tax hikes on household incomes over $450,000 a year that was part of the agreement struck between Vice President Joe Biden and Senate Republican Minority Leader Mitch McConnell. The House has convened a session for Tuesday at noon (1700 GMT).


The deal would make permanent the alternative minimum tax "patch" that was set to expire, protecting middle-income Americans from being taxed as if they were rich.


Indiscriminate spending cuts for defense and non-defense spending were simply postponed for two months.


As New Year's Day approached, members were thankful that financial markets were closed, giving them a second chance to return on Tuesday to try to blunt the worst effects of the fiscal mess.


There is no major difference whether a law is passed on Monday night, Tuesday or Wednesday. Legislation can be backdated to January 1, for instance, said law firm K&L Gates partner Mary Burke Baker, who spent decades at the Internal Revenue Service.


"This is sort of like twins and one being born before midnight and one being born after. I think the date that matters is the day president signs the legislation," she said.


(Additional reporting by Richard Cowan, Mark Felsenthal and Rachelle Younglai; Writing by Alistair Bell and Peter Cooney)



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