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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Kaepernick delivers, 49ers beat Packers 45-31

SAN FRANCISCO (AP) — The unproven kid thoroughly beat the former Super Bowl champion and reigning MVP.

With a strong arm that allowed him to pick the Packers apart from the pocket and speedy legs that helped him break free for big gains, Colin Kaepernick did a little bit of everything in a record-setting, sensational playoff debut — and Aaron Rodgers just couldn't keep up.

Kaepernick passed for 263 yards and ran the San Francisco 49ers right back to the NFC championship game with a 45-31 win over Green Bay in an NFC divisional game Saturday night.

Kaepernick rushed for a quarterback playoff record 181 yards and two touchdowns and threw two scoring passes to Michael Crabtree. Next up for the Niners: a game on Jan. 20 for a spot in the Super Bowl, against the winner of Sunday's game between the Seattle Seahawks and Falcons at Atlanta.

"It feels good. We're one step closer to where we want to be," Kaepernick said. "I feel like I had a lot to prove. A lot of people doubted my ability to lead this team."

And what a playoff debut it was by the second-year pro making just his eighth NFL start. No doubting Jim Harbaugh's big midseason gamble switching quarterbacks now.

Rodgers never got in sync for the Packers (12-6), finishing 26 of 39 for 257 yards with two touchdowns.

Kaepernick ran for scores of 20 and 56 yards on the way to topping the rushing mark of 119 yards set by Michael Vick in 2005 against St. Louis. Crabtree caught TD passes of 12 and 20 yards in the second quarter and wound up with nine receptions and 119 yards for the Niners (12-4-1) in the NFC divisional matchup.

Kaepernick, sporting a burgundy beanie partially covering his head, was greeted at his locker after the game by former 49ers quarterback John Brodie.

San Francisco had 579 total yards with 323 on the ground, scoring its third-most points in the franchise's storied playoff history.

"Our offensive line did an amazing job today," Kaepernick said. "They shut everybody down inside. Our receivers, our tight ends, blocked great outside, and our running backs were running hard, so it made it easier on me."

Frank Gore and Anthony Dixon each added 2-yard touchdown runs in the fourth quarter for the No. 2 seed NFC West champions, slim favorites on their home field in a rematch of Week 1. They added to their memorable night by setting a franchise postseason record for yards rushing, 119 of those by Gore to complement Kaepernick.

Rodgers, the former Cal star passed up by San Francisco with the No. 1 pick in the 2005 draft, never got going. Rodgers rooted for the Niners as a kid in Northern California.

This was another early exit for the Packers, who lost in the divisional playoffs to the eventual Super Bowl champion New York Giants a year ago and were denied a chance to defend the title they won after the 2010 season.

Those Green Bay road stars of two years ago — they won three away from Lambeau Field on the way to the Super Bowl — didn't have it this time against San Francisco's stingy defense and a no-fear, second-year quarterback who would not be denied. A kid who was born in Milwaukee and grew up a big Green Bay fan until the day he was drafted in 2011 out of Nevada.

"I didn't know how fast he was," Green Bay defensive back Charles Woodson said. "Coming in I really never paid attention to it. But he is fast."

San Francisco advanced to back-to-back NFC title games for the first time since reaching three in a row following the 1992-94 seasons, with 1994 their last trip to the Super Bowl.

With the sellout crowd at Candlestick Park waving red flags reading "Quest for Six" — a sixth Super Bowl title, that is — Kaepernick did his part and then some to deliver in the first key step. Even after an early interception that gave Green Bay all the momentum in a hostile road stadium.

Kaepernick topped Vick's mark with the 56-yard keeper on an option play in the third quarter. That gave Kaepernick 163 yards on 12 carries, also setting a 49ers franchise record for the postseason.

"The execution for the 49ers on the read option was excellent, but our issues were bigger than that," Packers coach Mike McCarthy said. "We did not a very good job of keeping him the pocket. He was able to get out of the pocket for a number of big conversions."

Kaepernick joined Jay Cutler in 2011 and Otto Graham in both 1954 and '55 as the only players with two rushing and two passing touchdowns in a playoff game.

David Akers kicked a 36-yard field goal moments before halftime to give San Francisco a 24-21 lead at intermission after Green Bay tried to ice the struggling veteran by calling timeout before his kick.

Mason Crosby's 31-yard field goal tied the game at 24 midway through the third quarter, then Kaepernick took over again. San Francisco's defense handled the rest.

Kaepernick had 11 carries for 107 yards rushing by halftime.

Pick six, no problem.

The strong-armed Kaepernick brushed off the interception he tossed on the fourth play of the game that Sam Shields ran back 52 yards for a touchdown, then took control with his pinpoint passing to his favorite go-to guy — Crabtree — and with his quick-burst ability out of the pocket.

"He does a great job of responding," Harbaugh said. "He has done that any time there has been an interception he has thrown, a safety or a turnover, he's responded with a scoring drive. That's rare. I think that's a rare quality. So far he's shown that he's got that ability to come back."

San Francisco, fueled all year by its near miss in overtime of the NFC title game, made it two victories against Rodgers and Co. this season after a 30-22 Week 1 win at Lambeau Field.

Kaepernick bounced back from the early interception and again after a second-quarter taunting penalty in which he threw the ball down in the face of safety M.D. Jennings after being hit by Jennings and Erik Walden. Center Jonathan Goodwin grabbed Kaepernick in an effort to settle him down after his 15-yard run was negated by the 15-yard flag.

Two plays later, Kaepernick found Crabtree for his 20-yard TD as San Francisco capitalized on another Packers turnover.

Rodgers answered right back on the Packers' next chance, driving his team 80 yards on six plays and hitting James Jones on a 20-yard touchdown of his own that tied the game at 21. Green Bay got help from a 15-yard personal foul penalty by Dashon Goldson for a helmet-to-helmet hit on DuJuan Harris.

"We felt like we gift-wrapped them 14 points off turnovers in the first half and our defense was playing all right," Rodgers said. "And then we just didn't get it done in the second half. I knew we were going to have to score some points. We knew we were going to have to put up at least 38 points."

Former California receiver Jeremy Ross fumbled Andy Lee's punt early in the second and C.J. Spillman recovered as San Francisco got the ball back at the 9. Kaepernick threw a 12-yard TD pass to Crabtree three plays later.

Rodgers' streak of 183 passes without an interception spanning the previous five games ended when Tarell Brown picked off the ball on a deep third-down throw in the second quarter. Brown had another interception in the waning moments.

"We expected them to try to get him out on the perimeter. But we didn't expect to let him do what he did," Woodson said. "Give him a lot of credit. He played a great game. He made a lot of great plays out there today. It was hard to swallow."

Harris ran 18 yards for a score in the final minute of the first quarter as Green Bay took a 14-7 lead. Rodgers connected with James Jones on a 44-yard completion one play earlier before Harris easily ran right up the middle into the end zone for a Packers team that managed 45 total yards rushing in the season-opening loss.

Such moments were few against a 49ers defense happy to welcome back All-Pro lineman Justin Smith after he missed the final two regular-season games with a partially torn left triceps muscle.

Notes: The Green Bay defense gave up the most total yards (579), yards rushing (323) and second-most points in the playoffs in franchise history. ... San Francisco improved to 13-3 at home in divisional playoff games. ... The 49ers had 48 offensive plays in the first half to 20 by Green Bay.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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Air pollution in Beijing goes off the index

BEIJING (AP) — People refused to venture outdoors and buildings disappeared into Beijing‘s murky skyline on Sunday as the capital’s air quality went off the index.

The Beijing Municipal Environmental Monitoring Center said on its website that the density of PM2.5 particulates had surpassed 700 micrograms per cubic meter in many parts of the city. The World Health Organization considers a safe daily level to be 25 micrograms per cubic meter.

PM2.5 are tiny particulate matter less than 2.5 micrometers in size or about 1/30th the average width of a human hair. They can penetrate deep into the lungs, so measuring them is considered a more accurate reflection of air quality than other methods.

The Beijing center recommended that children and the elderly should stay indoors, and others should avoid outdoor activities.

The U.S. Embassy also publishes data for PM2.5 on Twitter, and interprets the data according to more stringent standards.

In the 24-hour period up to 10 a.m. Sunday, it said 18 of the hourly readings were “beyond index.” The highest number was 755 which corresponded to a PM2.5 density of 886 micrograms per cubic meter. The U.S.’s Environmental Protection Agency’s air quality index only goes up to 500 and it advises anything greater than 300 would trigger a health warning of “emergency conditions” with the entire population likely affected.

While some people vowed to stay indoors with air purifiers turned on, streets were still fairly busy and there was the familiar sight of lines of traffic queuing on main thoroughfares.

PM2.5 can result from the burning of fuels in vehicles and power plants.

Weather conditions are a factor in the recent poor air quality as a lack of wind means pollutants can easily accumulate and fail to dissipate, said Pan Xiao Chuan, a professor at Peking University’s public health department.

“Recent pollution doesn’t mean there is an increase in the discharge of pollutants,” he said.

Experts say they thought the PM2.5 readings were the highest since Beijing started publishing that data early last year. Now hourly air quality updates are available online for over 70 cities. Public pressure forced the publication of the more detailed air quality data, as a growing Chinese middle class is increasingly vocal about the quality of the environment in which it lives.

Air pollution is a major problem in China due to the country’s rapid pace of industrialization, reliance on coal power, explosive growth in car ownership and disregard to environmental laws. It typically gets worse in the winter because of heating needs.

Beijing’s air started to worsen on Thursday. The Beijing monitoring center has said the pollution is expected to linger until Tuesday.

Several other cities, including Tianjin on the coast east of Beijing and southern China’s Wuhan city, also reported severe pollution over the last several days.

__

AP researcher Henry Hou contributed to this report.

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Quest: U.S. economy to dominate Davos

The United States and the sorry state of its political and budgetary process will be the center of attention at Davos, writes Quest

STORY HIGHLIGHTS

• Quest: Davos is a chance to see where the political and economic landmines are in 2013


• Quest: People will be speculating about how dysfunctional the U.S. political process has become


• Quest: Davos has been consumed by eurozone sovereign debt crises for three years

Editor's note: Watch Quest Means Business on CNN International, 1900pm GMT weekdays. Quest Means Business is presented by CNN's foremost international business correspondent Richard Quest. Follow him on Twitter.

(CNN) -- It is that time of the year, again. Come January no sooner have the Christmas trees been taken down, as the winter sales are in full vicious flood the world of business start thinking about going to the world economic forum, better known as Davos.

For the past three years Davos has been consumed by the eurozone sovereign debt crises.

As it worsened the speculation became ever more frantic.....Will Greece leave the euro? Will the eurozone even survive? Was this all just a big German trick to run Europe? More extreme, more dramatic, more nonsense.

Can China be the biggest engine of growth for the global economy. Round and round in circles we have gone on these subjects until frankly I did wonder if there was anything else to say short of it's a horrible mess!

This year there is a new bogey man. The US and in particular the sorry state of the country's political and budgetary process will, I have little doubt, be the center of attention.

Read more: More 'cliffs' to come in new Congress

Not just because Congress fluffed its big test on the fiscal cliff, but because in doing so it created many more deadlines, any one of which could be deeply unsettling to global markets... There is the $100 billion budget cutbacks postponed for two months by the recent agreement; postponed to the end of February.

At exactly the same time as the US Treasury's ability to rob Peter to pay Paul on the debt ceiling crises comes to a head.

Read more: Both Obama, GOP set for tough talks ahead

The Treasury's "debt suspension period" is an extraordinary piece of financial chicanery that if we tried it with our credit cards would get us locked up!! Then there is the expiration of the latest continuing resolution, the authority by which congress is spending money.

There is the terrifying prospect that all these budget woes will conflate into one big political fist fight as the US faces cutbacks, default or shutdown!!

I am being alarmist. Most rational people believe that the worst sting will be taken out of this tail....not before we have all been to the edge...and back. And that is what Davos will have on its mind.

People will be speculating about how dysfunctional the US political process has become and is it broken beyond repair (if they are not asking that then they should be...)

They will be pondering which is more serious for risk...the US budget and debt crises or the Eurozone sovereign debt debacle. A classic case of between the devil and the deep blue sea.

The official topic this year is Resilient Dynamism. I have absolutely no idea what this means. None whatsoever. It is another of WEF's ersatz themes dreamt up to stimulate debate in what Martin Sorrell has beautifully terms "davosian language" In short everyone interprets it as they will.

What I will enjoy, as I do every year, is the chance to hear the global players speak and the brightest and best thinkers give us their take on the global problems the atmosphere becomes febrile as the rock-stars of finance and economics give speeches, talk on panels and give insight.

Of course comes of these musings, it never does at Davos. That's not the point. This is a chance to take stock and see where the political and economic landmines are in 2013. I like to think of Davos as the equivalent of Control/Alt/Delete. It allows us to reboot.

We leave at least having an idea of where people stand on the big issues provided you can see through the panegyrics of self congratulatory back slapping that always takes place whenever you get like minded people in one place... And this year, I predict the big issue being discussed in coffee bars, salons and fondue houses will be the United States and its budgetary woes.

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Reddit co-founder Aaron Swartz dies from suicide

Even as an eighth-grader in Winnetka, Aaron Swartz showed signs of the computer wizardry that would lead to his Internet activism and development of software used by websites worldwide.

But the Highland Park native who had attended North Shore Country Day School in Winnetka and as a 13-year-old had created an online public encyclopedia for a school competition got into trouble as an adult.

He faced trial in April on federal charges that he had illegally downloaded millions of journal articles from the Massachusetts Institute of Technology with the intention of posting them to a file-sharing site.

The prospect of the trial was too much for him, his family said. Swartz, 26, committed suicide inside his New York apartment, authorities said Saturday.

In a statement sent through a spokesman, his family said Swartz hanged himself the day before out of worry that he faced more than 30 years in federal prison.

“Aaron’s insatiable curiosity, creativity, and brilliance; his reflexive empathy and capacity for selfless, boundless love; his refusal to accept injustice as inevitable — these gifts made the world, and our lives, far brighter,” the statement in part read.

Along with developing an early version of rich site summary, or RSS, technology, Swartz is credited with co-founding the popular Reddit website that allows users to vote for their favorite news stories of the day.

Increasingly active in efforts to make information more readily available on the Internet, he also founded Demand Progress, a lobbying group that advocates for civil liberties and government reform.

In that role, Swartz led a successful effort to stymie the Stop Online Piracy Act, a bill introduced in the U.S. House of Representatives in 2011, which sought to restrict access to websites that illegally shared copyrighted property. The bill was eventually withdrawn after widespread protests.

“He refined advocacy for the progressive and open-information movement,” said David Moon, program director for Demand Progress. “He was ultimately pretty brilliant at that.”

On Saturday, Swartz’s death spurred an outpouring of sympathy and tributes throughout social media, many of which hailed his multiple accomplishments at a young age.

Several commenters heaped scorn upon federal prosecutors in Massachusetts for indicting Swartz in 2011. He was accused of downloading millions of academic journal articles and breaking into a university closet to plug into the school’s computer network, which prompted charges of computer fraud, wire fraud and other crimes. Swartz had pleaded not guilty.

A spokeswoman for the U.S. attorney’s office in Massachusetts declined to comment, citing the family’s privacy.

Moon, who met Swartz in 2010 and last saw him about a month ago, declined to speak in detail about the circumstances surrounding his death.

“The stresses he was facing was obvious, and those who know him can attest to that,” Moon said.

Tribune wire services contributed.

Saho@tribune.com
cdrhodes@tribune.com

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Russia rejects Assad exit as precondition for Syria deal

MOSCOW/BEIRUT (Reuters) - Russia voiced support on Saturday for international peace envoy Lakhdar Brahimi but insisted Syrian President Bashar al-Assad's exit cannot be a precondition for a deal to end the country's conflict.

Some 60,000 Syrians have been killed during the 21-month-old revolt and world powers are divided over how to stop the escalating bloodshed. Government aircraft bombed outer districts of Damascus on Saturday after being grounded for a week by stormy weather, opposition activists in the capital said.

A Russian Foreign Ministry statement following talks on Friday in Geneva with the United States and Brahimi reiterated calls for an end to violence in Syria, but there was no sign of a breakthrough.

Brahimi said the issue of Assad, who the United States, European powers and Gulf-led Arab states insist must step down to end the civil war, appeared to be a sticking point.

Russia's Foreign Ministry said: "As before, we firmly uphold the thesis that questions about Syria's future must be decided by the Syrians themselves, without interference from outside or the imposition of prepared recipes for development."

Russia has been Assad's most powerful international backer, joining with China to block three Western- and Arab-backed U.N. Security Council resolutions aimed to pressure him or push him from power. Assad can also rely on regional powerhouse Iran.

Russia called for "a political transition process" based on an agreement by foreign powers last June.

Brahimi, who is trying to build on that agreement, has met three times with senior Russian and U.S. diplomats since early December and met Assad in Damascus.

Russia and the United States disagreed over what the June agreement meant for Assad, with Washington saying it sent a clear signal he must go and Russia contending it did not.

Qatar on Saturday made a fresh call for an Arab force to end bloodshed in Syria if Brahimi's efforts fail, according to the Doha-based al Jazeera television.

"It is not a question of intervention in Syria in favor of one party against the other, but rather a force to preserve security," Qatar's Prime Minister and Foreign Minister, Sheikh Hamad bin Jassim al-Thani, said in an al Jazeera broadcast.

CONFLICT INTENSIFIES

Moscow has been reluctant to endorse the "Arab Spring" popular revolts of the last two years, saying they have increased instability in the Middle East and created a risk of radical Islamists seizing power.

Although Russia sells arms to Syria and rents one of its naval bases, the economic benefit of its support for Assad is minimal. Analysts say President Vladimir Putin wants to prevent the United States from using military force or support from the U.N. Security Council to bring down governments it opposes.

However, as rebels gain ground in the war, Russia has given indications it is preparing for Assad's possible exit, while continuing to insist he must not be forced out by foreign powers.

Opposition activists say a military escalation and the hardship of winter have accelerated the death toll.

Rebel forces have acquired more powerful anti-tank and anti-aircraft weapons during attacks on Assad's military bases.

Assad's forces have employed increasing amounts of military hardware including Scud-type ballistic missiles in the past two months. New York-based Human Rights Watch said they had also used incendiary cluster bombs that are banned by most nations.

STALEMATE IN CITIES

The weeklong respite from aerial strikes has been marred by snow and thunderstorms that affected millions displaced by the conflict, which has now reached every region of Syria.

On Saturday, the skies were clear and jets and helicopters fired missiles and dropped bombs on a line of towns to the east of Damascus, where rebels have pushed out Assad's ground forces, the Syrian Observatory for Human Rights said.

The British-based group, which is linked to the opposition, said it had no immediate information on casualties from the strikes on districts including Maleiha and farmland areas.

Rebels control large swathes of rural land around Syria but are stuck in a stalemate with Assad's forces in cities, where the army has reinforced positions.

State TV said government forces had repelled an attack by terrorists - a term it uses for the armed opposition - on Aleppo's international airport, now used as a helicopter base.

Reuters cannot independently confirm reports due to severe reporting restrictions imposed by the Syrian authorities and security constraints.

On Friday, rebels seized control of one of Syria's largest helicopter bases, Taftanaz in Idlib province, their first capture of a military airfield.

Eight-six people were killed on Friday, including 30 civilians, the Syrian Observatory said.

(Writing by Oliver Holmes; Editing by Tom Pfeiffer and Doina Chiacu)

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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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Durant, Thunder send Lakers to 6th straight loss

LOS ANGELES (AP) — Kevin Durant scored 42 points, Russell Westbrook had 27 points and 10 assists, and the Oklahoma City Thunder easily sent the short-handed Los Angeles Lakers to their sixth straight loss, 116-101 Friday night.

Kevin Martin scored 15 points and hit three 3-pointers for the Thunder, who romped to a 27-point lead in the second half of their seventh win in nine games. Oklahoma City (28-8) matched the Clippers for the NBA's best record with a virtuoso game from Durant, who had 38 points midway through the third quarter.

Kobe Bryant scored 28 for the Lakers, on their first six-game skid since March 2007.

Antawn Jamison added 19 points as Los Angeles looked lost and overmatched in its third straight game without starting big men Dwight Howard and Pau Gasol.

The Thunder eliminated Bryant and the Lakers from last season's playoffs in five games, but Los Angeles has shown few signs of being able to compete with Oklahoma City this season. Injuries aren't the only problem, but Howard likely is out for at least another week with a shoulder injury, while Gasol still hasn't been cleared to return from his concussion.

Steve Nash had seven points and seven assists in a quiet 30 minutes for the Lakers, who announced during the second quarter that backup big man Jordan Hill likely needs season-ending surgery on his left hip. Metta World Peace added 12 points, going 1 for 9 on 3-point attempts.

The Lakers (15-21) hadn't lost this many consecutive games since the year before they acquired Gasol and embarked on a run to three straight NBA finals. With Cleveland and Milwaukee visiting over the next four days, the Lakers have a chance to get competitive again — but they're facing an uphill climb just to get into playoff contention.

Oklahoma City inexplicably lost to lowly Washington four days ago, but made none of the same mistakes in another meeting with a short-handed opponent. The Thunder also beat the Lakers 114-108 in Oklahoma City last month while Los Angeles was without Gasol and Nash.

The Thunder jumped to an 11-point lead in the first quarter, but Bryant led an 11-0 run to tie it heading into the second. That run was the extent of Los Angeles' competitiveness against the defending Western Conference champions: Oklahoma City calmly reclaimed control, with Durant scoring 16 points in the quarter capped by a 3-pointer with 0.2 seconds left before halftime, putting the Thunder up 64-48.

Along with predictable defensive struggles against Durant and Westbrook, Los Angeles missed its first 12 3-point attempts before Nash connected midway through the third quarter. Durant scored 15 more points in the third before sitting out much of the fourth, finishing nine points shy of his career high.

Hill's prolonged absence would be another big blow to the Lakers, who would lose one of their few reliable reserves.

The fourth-year pro is averaging 6.7 points and 5.7 rebounds in his first full season with Los Angeles. He'll get a second opinion on his hip before scheduling season-ending surgery on loose fragments and a possible labral tear.

NOTES: Before the game, Bryant and his wife, Vanessa, announced they've called off their divorce proceedings. Vanessa Bryant filed for divorce in December 2011. ... The teams meet again at Staples Center on Jan. 27. Oklahoma City also visits to face the Clippers on Jan. 22. ... Charlize Theron, Adam Sandler, Robin Thicke, Floyd Mayweather Jr., Mehmet Oz and Chad Johnson watched the game from courtside.

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Big Sunspot Unleashes Intense Solar Flare

The surface of the sun erupted in a solar flare early today (Jan. 11), unleashing a blast of super-heated plasma into space.

A huge sunspot known as AR1654 produced the M1-class flare at 4:11 a.m. EST (0911 GMT), officials with NASA’s Solar Dynamics Observatory said in a description of the event. The SDO spacecraft is one of several sun-watching space telescopes keeping tabs on solar flares and other sun weather events.

According to Spaceweather.com, sunspot AR1654 is growing more active and is now “crackling with M-class solar flares” like the one that erupted today.

“AR1654 is getting bigger as it turns toward Earth,” the website reported. “Not only is the chance of flares increasing, but also the chance of an Earth-directed eruption.This could be the sunspot that breaks the recent lengthy spell of calm space weather around our planet.”

The sun is in an active phase of its current 11-year weather cycle, which scientists call Solar Cycle 24. The sun’s activity cycle is expected to reach its peak (or “solar maximum”) in 2013, astronomers have said. 

The most powerful solar flares, X-class flares, have the most significant effect on Earth. They can cause long-lasting radiation storms in our planet’s upper atmosphere and trigger radio blackouts.

Medium-size M-class flares can cause brief radio blackouts in the polar regions and occasional minor radiation storms. C-class flares, the weakest in scientists’ three-tiered classification system, have few noticeable consequences.

Follow SPACE.com on Twitter @Spacedotcom. We’re also on Facebook & Google+.

Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Space and Astronomy News Headlines – Yahoo! News

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Saudi execution: Brutal and illegal?

STORY HIGHLIGHTS

• Saudi authorities beheaded Rizana Nafeek, a Sri Lankan woman


• She was convicted of killing a baby of the family employing her as a housemaid


• This was despite Nafeek's claims that the baby died in a choking accident


• Becker says her fate "should spotlight the precarious existence of domestic workers"

Jo Becker is the Children's Rights Advocacy Director for Human Rights Watch and author of 'Campaigning for Justice: Human Rights Advocacy in Practice.' Follow Jo Becker on Twitter.

(CNN) -- Rizana Nafeek was a child herself -- 17 years old, according to her birth certificate -- when a four-month-old baby died in her care in Saudi Arabia. She had migrated from Sri Lanka only weeks earlier to be a domestic worker for a Saudi family.

Although Rizana said the baby died in a choking accident, Saudi courts convicted her of murder and sentenced her to death. On Wednesday, the Saudi government carried out the sentence in a gruesome fashion, by beheading Rizana.

Jo Becker

Read more: Outrage over beheading of Sri Lankan woman by Saudi Arabia

Rizana's case was rife with problems from the beginning. A recruitment agency in Sri Lanka knew she was legally too young to migrate, but she had falsified papers to say she was 23. After the baby died, Rizana gave a confession that she said was made under duress -- she later retracted it. She had no lawyer to defend her until after she was sentenced to death and no competent interpreter during her trial. Her sentence violated international law, which prohibits the death penalty for crimes committed before age 18.

Rizana's fate should arouse international outrage. But it should also spotlight the precarious existence of other domestic workers. At least 1.5 million work in Saudi Arabia alone and more than 50 million -- mainly women and girls -- are employed worldwide according to the International Labour Organization (ILO).

Read more: Indonesian maid escapes execution in Saudi Arabia

Again according to the ILO, the number of domestic workers worldwide has grown by more than 50% since the mid-1990s. Many, like Rizana, seek employment in foreign countries where they may be unfamiliar with the language and legal system and have few rights.

When Rizana traveled to Saudi Arabia, for example, she may not have known that many Saudi employers confiscate domestic workers' passports and confine them inside their home, cutting them off from the outside world and sources of help.

It is unlikely that anyone ever told her about Saudi Arabia's flawed criminal justice system or that while many domestic workers find kind employers who treat them well, others are forced to work for months or even years without pay and subjected to physical or sexual abuse.

Passport photo of Rizana Nafeek

Read more: Saudi woman beheaded for 'witchcraft and sorcery'

Conditions for migrant domestic workers in Saudi Arabia are among some of the worst, but domestic workers in other countries rarely enjoy the same rights as other workers. In a new report this week, the International Labour Organization says that nearly 30% of the world's domestic workers are completely excluded from national labor laws. They typically earn only 40% of the average wage of other workers. Forty-five percent aren't even entitled by law to a weekly day off.

Last year, I interviewed young girls in Morocco who worked 12 hours a day, 7 days a week for a fraction of the minimum wage. One girl began working at age 12 and told me: "I don't mind working, but to be beaten and not to have enough food, this is the hardest part."

Many governments have finally begun to recognize the risks and exploitation domestic workers face. During 2012, dozens of countries took action to strengthen protections for domestic workers. Thailand, and Singapore approved measures to give domestic workers a weekly day off, while Venezuela and the Philippines adopted broad laws for domestic workers ensuring a minimum wage, paid holidays, and limits to their working hours. Brazil is amending its constitution to state that domestic workers have all the same rights as other workers. Bahrain codified access to mediation of labor disputes.

Read more: Convicted killer beheaded, put on display in Saudi Arabia

Perhaps most significantly, eight countries acted in 2012 to ratify -- and therefore be legally bound by -- the Domestic Workers Convention, with more poised to follow suit this year. The convention is a groundbreaking treaty adopted in 2011 to guarantee domestic workers the same protections available to other workers, including weekly days off, effective complaints procedures and protection from violence.

The Convention also has specific protections for domestic workers under the age of 18 and provisions for regulating and monitoring recruitment agencies. All governments should ratify the convention.

Many reforms are needed to prevent another tragic case like that of Rizana Nafeek. The obvious one is for Saudi Arabia to stop its use of the death penalty and end its outlier status as one of only three countries worldwide to execute people for crimes committed while a child.

Labor reforms are also critically important. They may have prevented the recruitment of a 17 year old for migration abroad in the first place. And they can protect millions of other domestic workers who labor with precariously few guarantees for their safety and rights.

Read more: Malala, others on front lines in fight for women

The opinions expressed in this commentary are solely those of Jo Becker.

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Bulls hold on to beat Knicks 108-101

Bulls beat the Knicks 108-101 on Friday.

NEW YORK — Three players and a coach were not around to witness the end of the last Bulls-Knicks game at Madison Square Garden.

That coach was New York's Mike Woodson, who forecasted another battle royale.

"Chicago, the Celtics, Indiana … teams that play defense and get after it, there will be (intense) games," he said. "I expect (this) will be no different."

It turned out completely different, a walk in the park for the Bulls — for 44 minutes. But even after giving up 12 straight points late in the fourth quarter, Chicago left town with a solid 108-101 victory.

"When you build a cushion," coach Tom Thibodeau said, "you can withstand things not going your way. The most important thing is getting the win."

Marco Belinelli came through at the end, hitting 5 of 6 free throws and making a steal to lock up the victory. The Bulls improved to 3-0 against the Knicks, a mark that pleases native New Yorker Joakim Noah to no end.

"It feels great," he said. "Everybody's locked in when we play the Knicks. It's easy to get up for games like this — big stage, playing in the Garden."

Luol Deng scored 33 points on 13-for-18 shooting, besting his season high of 29 that came Dec. 21 in that wild, four-point Bulls victory in New York that featured nine technical fouls.

"Honestly it's not about the scoring," he said. "I just want to play well. I score for the team, but I don't go out trying to get big numbers. I never focus on one thing."

Carmelo Anthony scored 39 points, but most came after the game was decided. And he shot just 14-for-32.

"(Deng) guarded Carmelo about as well as you can," Thibodeau said.

There were no scraps or technical fouls Friday, just superb basketball from the visitors, who improved to 9-1 on the road against Eastern Conference foes.

The Bulls scored the game's first five points and cruised to a 57-36 halftime lead.

Noah (nine points, eight rebounds, four assists, four blocks) surprised observers by reprising his "finger guns" celebration after nailing a 15-foot jumper in the first quarter. Noah had ditched that after the elementary school shooting in Newtown, Conn.

"I just got too hyped," he said, implying he would not do it again.

The Bulls allowed New York to score 41 points in the fourth quarter — and nail 11 of 17 from deep in the second half.

"We opened up the 3-point line against a team that can shoot the 3," Thibodeau said. "We want to learn and improve. (But) I want to look at the game in totality."

Until the late flurry, the Bulls were totally dominant, building a 101-80 lead with 3 minutes, 47 seconds to play.

"I wish every game was here," Noah said. "It's the best, man."

tgreenstein@tribune.com

Twitter @TeddyGreenstein

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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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Asian shares, Brent retreat after China CPI; yen slides

TOKYO (Reuters) - Asian shares and Brent crude futures fell on Friday as a pick-up in Chinese inflation prompted profit-taking, although an improving outlook for global economies curbed losses, 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 earlier, marking the 10th consecutive month of declines, but improved from November's 2.2 percent annual drop.

Brent crude futures fell 0.4 percent to $111.50 a barrel and U.S. crude trimmed earlier rises to trade nearly flat at 93.86.

"China's inflation was hotter than expected which might add a little bit of downside risk and some investors may be cashing in profits," said Ben Le Brun, market analyst at OptionsXpress.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.2 percent, erasing morning gains that brought the index near its highest level since August 2011 hit last week. The index looked set to end the week virtually flat after starting the first week of 2013 with a 2.4 percent jump.

Shanghai shares <.ssec> tumbled 1.3 percent, dragging Hong Kong shares <.hsi> into negative territory, while Australian shares <.axjo> ended down 0.3 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.

Unexpectedly strong Chinese trade data on Thursday buoyed hopes that demand from the world's second-largest economy will rise, while cautiously optimistic comments from European Central Bank President Mario Draghi eased anxiety over the euro zone debt problems.

European markets will likely sustain optimism. Financial spread-betters predicted London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open as much as 0.3 percent higher. U.S. stock futures were little changed, hinting at steady Wall Street start. <.l><.eu><.n/>

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> closed up 1.4 percent at a 23-month high as the yen's further slide boosted exporters. Japanese financial markets will be closed on Monday for a public holiday. <.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.

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 pursue aggressive easing steps. Abe said in an interview with the Nikkei newspaper on Friday that the BOJ should consider maximizing employment as a monetary policy goal to help boost the economy.

The euro surged to 118.58 yen, its highest since May 2011.

The yen selling gained momentum after data on Friday showed Japan had logged a current account deficit in November for the first time in 10 months at 222.4 billion yen ($2.5 billion), overshooting a 3.5 billion yen deficit forecast.

"Fresh short-term players, who know nothing about Japan and have never traded the yen before, are now joining the yen selling, and these fresh faces are responding to headlines," said Yunosuke Ikeda, a senior FX strategist at Nomura Securities.

The euro was last at $1.3261 after earlier hitting a one-week high of $1.3280, helped by a smooth first bond sale of the year from Spain on Thursday, which pushed benchmark 10-year Spanish government bond yields to a 10-month low of 4.90 percent.

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, Clement Tan in Hong Kong and Ramya Venugopal in Singapore; Editing by Shri Navaratnam, Paul Tait and Chris Gallagher)

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Browns hire Rob Chudzinski as new coach

CLEVELAND (AP) — Rob Chudzinski's first head coaching job will be with the team he loved as a kid.

Chudzinski, who spent the past two seasons as Carolina's offensive coordinator, has been hired by the Browns as their sixth full-time coach since 1999. It's the third stint in Cleveland for Chudzinski, who worked with the Browns previously as an assistant.

The Browns hope the first-time head coach can end years of despair and constant losing, and maybe resurrect a franchise that has made just one trip to the playoffs in the past 14 years.

The team confirmed Chudzinski's hiring with a release Thursday night and said he will be introduced at an 11 a.m. news conference at the team's facility in Berea on Friday.

Chudzinski will be the Browns' 14th coach in team history. He replaces Pat Shurmur, another first-time coach when he was hired, who was fired on Dec. 31 after a 5-11 season. For the past two years, the 44-year-old Chudzinski has worked with talented Panthers quarterback Cam Newton.

When owner Jimmy Haslam embarked on his coaching search last week, he pledged to bring back the "best person for Cleveland."

After meeting with at least seven other candidates, Haslam, who bought the Browns this summer, decided along with CEO Joe Banner that Chudzinski, was ready.

Known simply as "Chud," Chudzinski coached tight ends in Cleveland for Butch Davis in 2004, and then came back to the Browns in 2007 and was offensive coordinator for two seasons under Romeo Crennel.

Chudzinski, who was never embarrassed to acknowledge he rooted for the Browns while growing up in Toledo, Ohio, interviewed with the team on Wednesday. He was viewed by many as a longshot for the job, not because he wasn't qualified, but Haslam figured to make a big splash with his first coaching hire.

However, Chudzinski wowed Haslam and Banner during his meeting and the team decided it was time to end their search after nearly 10 days.

It's not yet known whom Chudzinski will bring in as his coordinators. There are reports he may hire former San Diego coach Norv Turner to run his offense.

In his first season in Carolina, Chudzinski turned Newton, the No. 1 overall draft pick, loose and the Panthers set club records for total yards (6,237) and first downs (345). Carolina also scored 48 touchdowns after getting just 17 in the season before Chudzinski arrived. The Panthers jumped from last in the league in total yardage to seventh, the biggest improvement since 1999.

Following the season, Chudzinski interviewed for head coaching jobs with St. Louis, Jacksonville and Tampa Bay before returning to Carolina.

Newton continued to develop in his second season with Chudzinski. The Browns could be counting on him to improve Brandon Weeden after his uneven rookie season.

After his first stint on Cleveland's staff, Chudzinski spent two seasons as San Diego's tight ends coach, working with perennial Pro Bowl standout Antonio Gates.

Taking over the Browns offense in 2007, Chudzinski helped the Browns win 10 games — the most since their expansion rebirth in 1999 — and had four players make the Pro Bowl.

However, in 2008, the Browns struggled on offense and a six-game losing streak led to a 4-12 finish and Crennel's firing. The Browns finished 31st in offense that year.

Chudzinski went back to the Chargers for two more seasons before he was hired in Carolina.

On Thursday, former Arizona coach Ken Whisenhunt was brought to Cleveland for a second interview and he appeared to be the frontrunner. The Browns were also expected to meet again with Cincinnati defensive coordinator Mike Zimmer and interview Indianapolis offensive coordinator Bruce Arians.

But in the end, the Browns decided to go with Chudzinski, who has no head coaching experience but is regarded as one of the league's brightest up-and-coming coaches.

The hiring won't cause Cleveland fans to dance in the streets, but it is in keeping with Banner's past of hiring a coach without a meaty resume.

When he was in Philadelphia's front office, Banner went outside the box and hired relatively unknown Andy Reid, who spent 14 seasons with the Eagles before he was fired after this season.

The Browns can only hope it goes as well with Chudzinski.

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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Rare Panda cub makes public debut at San Diego Zoo

SAN DIEGO (Reuters) – Xiao Liwu, the newest surviving giant panda born in captivity in the United States, made his public debut on Thursday at the San Diego Zoo by shunning the media but shining for the public.

During an hour-long, pre-opening introduction to the media and zoo volunteers, the 6-month-old, 16-pound male cub rolled in mud and hay, ignoring visitors, then climbed into a moat at the edge of the enclosure and fell asleep on his face.

He woke up once the public arrived and poured on the charm, climbing a tree and posing for photos.

Giant pandas are endangered, and experts estimate there are fewer than 1,600 in the wild, all in the mountain forests of central China.

Xiao Liwu (pronounced zhai lee-woo), which means little gift, was born on July 29 to Bai Yun, the zoo’s 21-year-old, 223-pound adult female panda. He is her sixth cub, one of five with mate Gao Gao. Her first cub resulted from artificial insemination.

“He’s shy and very loving,” said Kay Ferguson, the zoo’s panda narrator. “He’s inquisitive and he likes to play with balls. He’s very different from Bai Yun’s other five cubs.”

Despite stormy weather and cool temperatures, hundreds of panda fans lined up for the two-hour viewing. Previous glimpses of the cub and its mother were restricted to observations through the zoo’s PandaCam.

Bai Yun is one of only two captive pandas worldwide to give birth at age 20, relatively old for pandas. Fewer than a dozen pandas have been born at U.S. zoos, including a female cub that died at the National Zoo in Washington, D.C., in September, making Bai Yun the most prolific breeder in captivity outside China.

Bai Yun mostly ignored the baby during the public display. She chomped on bamboo, taking a break only to get a drink of water while the cub played in a nearby tree.

“With the first cub or two, she was very attentive, but the last, she doesn’t worry about them at all,” said Vivian Kiss, a panda fan. “You just want to pick him up and hold him.”

The cub, roughly the size of a stick of butter when first born, is still nursing and does not yet eat solid food, Ferguson said. “She’ll nurse him until he’s 18 months old, until she gets so grouchy she kicks him out,” Ferguson said.

(Reporting by Marty Graham; Editing by Steve Gorman)

Animal and Pets News Headlines – Yahoo! News

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Quest: U.S. economy to dominate Davos

The United States and the sorry state of its political and budgetary process will be the center of attention at Davos, writes Quest

STORY HIGHLIGHTS

• Quest: Davos is a chance to see where the political and economic landmines are in 2013


• Quest: People will be speculating about how dysfunctional the U.S. political process has become


• Quest: Davos has been consumed by eurozone sovereign debt crises for three years

Editor's note: Watch Quest Means Business on CNN International, 1800pm GMT weekdays. Quest Means Business is presented by CNN's foremost international business correspondent Richard Quest. Follow him on Twitter.

(CNN) -- It is that time of the year, again. Come January no sooner have the Christmas trees been taken down, as the winter sales are in full vicious flood the world of business start thinking about going to the world economic forum, better known as Davos.

For the past three years Davos has been consumed by the eurozone sovereign debt crises.

As it worsened the speculation became ever more frantic.....Will Greece leave the euro? Will the eurozone even survive? Was this all just a big German trick to run Europe? More extreme, more dramatic, more nonsense.

Can China be the biggest engine of growth for the global economy. Round and round in circles we have gone on these subjects until frankly I did wonder if there was anything else to say short of it's a horrible mess!

This year there is a new bogey man. The US and in particular the sorry state of the country's political and budgetary process will, I have little doubt, be the center of attention.

Read more: More 'cliffs' to come in new Congress

Not just because Congress fluffed its big test on the fiscal cliff, but because in doing so it created many more deadlines, any one of which could be deeply unsettling to global markets... There is the $100 billion budget cutbacks postponed for two months by the recent agreement; postponed to the end of February.

At exactly the same time as the US Treasury's ability to rob Peter to pay Paul on the debt ceiling crises comes to a head.

Read more: Both Obama, GOP set for tough talks ahead

The Treasury's "debt suspension period" is an extraordinary piece of financial chicanery that if we tried it with our credit cards would get us locked up!! Then there is the expiration of the latest continuing resolution, the authority by which congress is spending money.

There is the terrifying prospect that all these budget woes will conflate into one big political fist fight as the US faces cutbacks, default or shutdown!!

I am being alarmist. Most rational people believe that the worst sting will be taken out of this tail....not before we have all been to the edge...and back. And that is what Davos will have on its mind.

People will be speculating about how dysfunctional the US political process has become and is it broken beyond repair (if they are not asking that then they should be...)

They will be pondering which is more serious for risk...the US budget and debt crises or the Eurozone sovereign debt debacle. A classic case of between the devil and the deep blue sea.

The official topic this year is Resilient Dynamism. I have absolutely no idea what this means. None whatsoever. It is another of WEF's ersatz themes dreamt up to stimulate debate in what Martin Sorrell has beautifully terms "davosian language" In short everyone interprets it as they will.

What I will enjoy, as I do every year, is the chance to hear the global players speak and the brightest and best thinkers give us their take on the global problems the atmosphere becomes febrile as the rock-stars of finance and economics give speeches, talk on panels and give insight.

Of course comes of these musings, it never does at Davos. That's not the point. This is a chance to take stock and see where the political and economic landmines are in 2013. I like to think of Davos as the equivalent of Control/Alt/Delete. It allows us to reboot.

We leave at least having an idea of where people stand on the big issues provided you can see through the panegyrics of self congratulatory back slapping that always takes place whenever you get like minded people in one place... And this year, I predict the big issue being discussed in coffee bars, salons and fondue houses will be the United States and its budgetary woes.

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Cyanide: 'A poison we fear'

If Urooj Khan's remains are exhumed in coming days as expected, authorities will attempt to retrace the devastating course of one molecule through his body.

Cyanide, a toxic combination of carbon and nitrogen, exists throughout nature in trace amounts in certain plants, seeds and soils. It is also produced by some bacteria and fungi.

In its pure solid or gas forms, however, cyanide can be acutely poisonous, earning it an ignoble reputation in human history as an efficient killer — from World War II Nazi death camps to the Jonestown massacre to the Chicago Tylenol murders.

"It is a poison we fear," said Frank Paloucek, a pharmacist and toxicologist at the University of Illinois at Chicago. "It is a really dangerous poison, and once you get enough of it, there is not much we can do."

That appears to be the case for Khan, a West Rogers Park businessman who died of cyanide poisoning in July just weeks after winning a million-dollar lottery jackpot. The Cook County medical examiner's office initially found that Khan died of natural causes, and he was buried in Rosehill Cemetery. But after a relative voiced concern, extensive toxicological tests showed he died of lethal levels of cyanide. Chicago police and Cook County prosecutors are investigating his death as a homicide.

The murder mystery, first revealed in the Tribune on Monday, has sparked worldwide interest. It comes more than 30 years after the murders of seven Chicago-area residents who ingested cyanide-spiked Tylenol capsules spread fear across the country. The FBI reopened its investigation into the killings four years ago, but no one has ever been charged.

"In the rare event of homicidal poisoning, cyanide is not an uncommon (substance) to use," Dr. Gregory Schmunk, a forensic pathologist and president of the National Association of Medical Examiners, said Thursday.

Indeed, just last year, the wife of a former Communist Party leader in China was accused of killing a British businessman after ordering her butler to spike his drink with cyanide.

It is, however, more commonly seen in suicides, such as in the case of an Arizona businessman who poisoned himself in a courtroom with cyanide last year after he was found guilty of arson, according to experts.

The compound kills quickly.

Once inside the human body, it prevents cells from using oxygen. If enough cells absorb cyanide, a person's body and brain will become so oxygen-deprived that their tissues will begin to die.

As the body fights to provide more oxygen, heart and breathing rates rise. Cramping and headaches can occur, followed by loss of consciousness and eventually death.

Death may come in anywhere from 15 minutes to a couple of hours, Paloucek said.

Cyanide is typically detected during a medical examination by a scarlet red discoloration or a "bitter almond" odor emitting from the body, according to experts. But neither is a sure measure — darker pigmentation can mask red skin coloration, and many people can't smell cyanide.

In its powder form, a toxic dose of cyanide may only be about 200 milligrams, roughly the amount of any common pain medication pill, according to Paloucek.

"We are dealing with a poison that has a very fast knockdown rate," said John H. Trestrail III, a clinical and forensic toxicologist who consults with law enforcement agencies on such cases.

For that reason, investigators have been looking closely at the events that happened around the time that Khan died, including the last meal he ate, which his wife acknowledged preparing.

Cyanide can come as a gas or in a solid powder that looks like white sugar. It is commonly used in research laboratories, in mining to extract certain metals and by jewelers. It also used to be widely used in the United States to kill various pests.

"One hundred years ago, you could go into a pharmacy and buy cyanide to kill wasps," Trestrail said. "But you don't do that anymore."

Now cyanide suppliers maintain a "poison register" that would include information like proof of purchase, the name of the buyer and its intended use, according to Trestrail.

Outside the United States, however, cyanide is readily available, according to Paloucek. And even within the U.S., there have been cases of people giving false information to cyanide suppliers to obtain the substance.

"If you're persistent, it is not hard to get your hands on it," Schmunk said.

Local authorities plan to ask a Cook County Circuit Court judge on Friday for permission to exhume Khan's body in the next week or two. The remains would be autopsied by the medical examiner's office, according to its spokeswoman, Mary Paleologos.

Investigators will take samples of Khan's stomach contents to see if and how the cyanide was ingested, Paleologos said. They will also take more fluid and blood samples and look at other organs such as the lungs, to see if it may have been inhaled, she said. Investigators will also try to rule out chronic cyanide poisoning in which long-term exposure to the compound may have contributed to his death.

"A lot depends on if the body is in good or poor condition," Paleologos said. "If it's in good condition, of course (the medical examiner) can get decent samples, but if it's in poor condition, the quality of the samples will be poor as well."

cdizikes@tribune.com

asweeney@tribune.com

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String of bombings kill 101, injure 200 in Pakistan

QUETTA, Pakistan (Reuters) - At least 101 people were killed in bombings in two Pakistani cities on Thursday in one of the country's bloodiest days in recent years, officials said, with most casualties caused by sectarian attacks in Quetta.

The bombings underscored the myriad threats Pakistani security forces face from homegrown Sunni extremist groups, the Taliban insurgency in the northwest and the less well-known Baloch insurgency in the southwest.

On Thursday evening, two coordinated explosions killed at least 69 people and injured more than 100 in Quetta, the provincial capital of Balochistan, said Deputy Inspector of Police Hamid Shakil.

The first attack, in a crowded snooker hall, was a suicide bombing, local residents said. About ten minutes later, a car bomb exploded, they said. Five policemen and a cameraman were among the dead from that blast.

The attacks happened in a predominately Shia neighborhood and banned sectarian group Lashkar-e-Jhangvi claimed responsibility. The extremist Sunni group targets Shias, who make up about 20 percent of Pakistani's population.

Targeted killings and bombings of Shia communities are common in Pakistan, and rights groups say hundreds of Shia were killed last year. Militant groups in Balochistan frequently bomb or shoot Shia passengers on buses travelling to neighboring Iran.

The killers are rarely caught and some Shia activists say militants work alongside elements of Pakistan's security forces, who see them as a potential bulwark against neighboring India.

Many Pakistanis fear their nation could become the site of a regional power struggle between Saudi Arabia, source of funding for Sunni extremist groups, and Iran, which is largely Shia.

But sectarian tensions are not the only source of violence.

The United Baloch Army claimed responsibility for a blast in Quetta's market earlier in the day. It killed 11 people and injured more than 40, mostly vegetable sellers and secondhand clothes dealers, police officer Zubair Mehmood said. A child was also killed.

The group is one of several fighting for independence for Balochistan, an arid, impoverished region with substantial gas, copper and gold reserves, which constitutes just under half of Pakistan's territory and is home to about 8 million of the country's population of 180 million.

SWAT BOMBING

In another incident Thursday, 21 were killed and more than 60 injured in a bombing when people gathered to hear a religious leader speak in Mingora, the largest city in the northwestern province of Swat, police and officials at the Saidu Sharif hospital said.

"The death toll may rise as some of the injured are in critical condition and we are receiving more and more injured people," said Dr. Niaz Mohammad.

It has been more than two years since a militant attack has claimed that many lives in Swat.

The mountainous region, formerly a tourist destination, has been administered by the Pakistani army since their 2009 offensive drove out Taliban militants who had taken control.

But Talibans retain the ability to attack in Swat and shot schoolgirl campaigner Malala Yousufzai in Mingora last October.

A Taliban spokesman said they were not responsible for Thursday's bombing.

(Additional reporting by Jibran Ahmad in Peshawar, Pakistan; Writing by Katharine Houreld; Editing by Mark Heinrich and Jason Webb)

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Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.

Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.

Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.

Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.

Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.

"The big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.

Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter are expected to have grown by 1.9 percent, according to Thomson Reuters data.

The Dow Jones industrial average <.dji> gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index <.spx> rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index <.ixic> gained 14.00 points, or 0.45 percent, to 3,105.81.

Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.

Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.

Apollo Group Inc slid after heavier early losses, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 7.8 percent at $19.32.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.

(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)

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