Saturday, 23 February 2013

TSX rises on oil and banks, but Agrium dives

TORONTO (Reuters) - The main Canadian stock index rose on Friday as heavyweight energy shares climbed with oil prices and financial stocks were up ahead of their earnings season, and the index ended the week with a slight gain despite sharp mid-week falls.

Canadian banks rode higher on broadly positive sentiment for equities. Their quarterly earnings season starts next week, and some investors expect dividend increases.

"Banking stocks, for the most part, are on the positive side," said Fred Ketchen, director of equity trading at ScotiaMcLeod. "There has been some speculation that a couple of the banks will be increasing their dividend."

Bank of Nova Scotia gained 0.7 percent to C$60.34, Royal Bank of Canada added 0.4 percent to C$64.22, and Bank of Montreal was up 0.6 percent at C$63.09.

The energy sector gained as the price of crude oil rebounded after two days of heavy losses.

Suncor Energy Inc had the single biggest positive effect on the index, moving 1.4 percent higher to C$31.95.

"We may be reinitiating the uptrend," said Douglas Davis, chief executive at Davis-Rea. "Possibly it's just a bounceback after two bad days, but it doesn't look like that."

The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> bounced off a five-week low hit on Thursday, and ended up 61.66 points, or 0.49 percent, at 12,701.63. It notched a gain of 0.12 percent for the week.

Davis said the beaten-down oil and gas sector might win back favor as problems getting Canadian oil to market dissipate with increased rail volume and the likelihood of a U.S. government green light for the Keystone XL pipeline project to carry crude from the Alberta oil sands to refineries on the U.S. Gulf Coast.

"If Keystone stumbles, we stumble ... but I would bet on it going through," he said.

The index's gain echoed moves in U.S. and European markets, although Canadian miners bucked the trend, with heavy selling in fertilizer companies in particular. <.n><.eu/>

Fertilizer producer Agrium Inc was the heaviest weight on the index, down 5.2 percent at C$103.14.

Agrium reported record high fourth-quarter profit after normal trading hours on Thursday but was hurt by an analyst downgrade of many of the leading names in the fertilizer sector, including Potash Corp , which fell 1 percent to C$39.96.

The market mostly brushed off data that showed the Canadian economy registered its lowest inflation in more than three years in January and its largest drop in retail sales in almost three years in December.

"I don't see anything that is really outstanding on the positive side...when you look at things going on in the Canadian economy," ScotiaMcLeod's Ketchen said.

($1=$1.02 Canadian)

(Editing by Peter Galloway)

Source: http://news.yahoo.com/tsx-may-open-higher-positive-german-business-data-132954578--sector.html

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HP's stock soars to biggest 1-day gain since 2008

(AP) ? Hewlett-Packard Co.'s stock surged to its biggest one-day gain since 2008 after the company's latest quarterly earnings report indicated the ailing personal computer and printer maker isn't quite as sick as many investors feared.

THE SPARK: Chalk up Friday's 12 percent gain to a quintessential relief rally. After the stock market closed Thursday, HP released quarterly earnings and revenue that topped the projections of the company's management and analysts.

Although the results showed that HP's PC business and other key operations are still slumping, the numbers were a soothing contrast to the company's ghastly performance during much of last year. In the previous two quarters alone, HP had registered losses totaling $15.3 billion, reflecting the costs of two major acquisitions that had gone awry. In the January quarter, it posted a $1.2 billion profit.

THE BIG PICTURE: Now that HP did better than expected in its fiscal first quarter, which ended in January, it's raised hopes that HP CEO Meg Whitman might be able to engineer a turnaround ahead of schedule. Whitman has consistently described her plan as a "multi-year journey."

HP, which is based in Palo, Alto, Calif., fed the optimism by predicting that its earnings for the current quarter will be slightly better than analysts' projections. Even so, Whitman cautioned in a Thursday conference call with analysts that HP still faces plenty of challenges. Among other things, the downturn in PC sales could still get even worse, according to HP. In the most recent quarter, revenue in HP's PC division fell 8 percent from the previous year.

Like most other PC makers, HP is scrambling to adapt to a technological shift that is driving more spending on smartphones and tablet computers instead of desktop and laptop machines.

Plenty of investors still have their doubts about HP's ability to evolve while it also tries to expand into more profitable technology niches such as business software, data-analysis tools and consulting services. Even after Friday's big boost, the shares are about 15 percent below where they stood when Whitman became CEO in September 2011. Over the past three years, shares have lost about 60 percent of their value.

ANALYST'S TAKE: Many analysts seem to think the market may have overreacted to HP's latest earnings report. One, Sterene Agee's Shaw Wu, said in a Friday research note that he didn't expect big future stock-market gains.

SHARE ACTION: HP's stock climbed $2.10, or 12 percent, to close at $19.20. That marked the company's biggest one-day gain since a 14.5 percent increase in November 2008 and left the shares at its highest closing price in six months.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-02-22-US-Hewlett-Packard-Stock/id-3933dc4c7dc44e65bff3baf1a51cdd61

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Friday, 22 February 2013

Britain to India: Diamond in royal crown is ours

AMRITSAR, India (Reuters) - British Prime Minister David Cameron says a giant diamond his country forced India to hand over in the colonial era that was set in a royal crown will not be returned.

Speaking on the third and final day of a visit to India aimed at drumming up trade and investment, Cameron ruled out handing back the 105-carat Koh-i-Noor diamond, now on display in the Tower of London. The diamond had been set in the crown of the current Queen Elizabeth's late mother.

One of the world's largest diamonds, some Indians - including independence leader Mahatma Gandhi's grandson - have demanded its return to atone for Britain's colonial past.

"I don't think that's the right approach," Cameron told reporters on Wednesday after becoming the first serving British prime minister to voice regret about one of the bloodiest episodes in colonial India, a massacre of unarmed civilians in the city of Amritsar in 1919.

"It is the same question with the Elgin Marbles," he said, referring to the classical Greek marble sculptures that Athens has long demanded be given back.

"The right answer is for the British Museum and other cultural institutions to do exactly what they do, which is to link up with other institutions around the world to make sure that the things which we have and look after so well are properly shared with people around the world.

"I certainly don't believe in 'returnism', as it were. I don't think that's sensible."

Britain's then colonial governor-general of India arranged for the huge diamond to be presented to Queen Victoria in 1850.

If Kate Middleton, the wife of Prince William, who is second in line to the throne, eventually becomes queen consort she will don the crown holding the diamond on official occasions.

When Elizabeth II made a state visit to India to mark the 50th anniversary of India's independence from Britain in 1997, many Indians demanded the return of the diamond.

Cameron is keen to tap into India's economic rise, but says he is anxious to focus on the present and future rather than "reach back" into the past.

(Reporting By Andrew Osborn; Editing by Michael Roddy)

(This story corrects to remove reference to Queen Elizabeth I in lead paragraph)

Source: http://news.yahoo.com/britain-india-diamond-royal-crown-ours-000545529.html

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Major methane release is almost inevitable

We are on the cusp of a tipping point in the climate. If the global climate warms another few tenths of a degree, a large expanse of the Siberian permafrost will start to melt uncontrollably. The result: a significant amount of extra greenhouse gases released into the atmosphere, and a threat ? ironically ? to the infrastructure that carries natural gas from Russia to Europe.

The Arctic is warming faster than the rest of the planet, and climatologists have long warned that this will cause positive feedbacks that will speed up climate change further. The region is home to enormous stores of organic carbon, mostly in the form of permafrost soils and icy clathrates that trap methane ? a powerful greenhouse gas that could escape into the atmosphere.

The Siberian permafrost is a particular danger. A large region called the Yedoma could undergo runaway decomposition once it starts to melt, because microbes in the soil would eat the carbon and produce heat, melting more soil and releasing ever more greenhouse gases. In short, the melting of Yedoma is a tipping point: once it starts, there may be no stopping it.

For the first time, we have an indication of when this could start happening. Anton Vaks of the University of Oxford in the UK and colleagues have reconstructed the history of the Siberian permafrost going back 500,000 years. We already know how global temperatures have risen and fallen as ice sheets have advanced and retreated, so Vaks's team's record of changing permafrost gives an indication of how sensitive it is to changing temperatures.

Stalagmite record

But there is no direct record of how the permafrost has changed, so Vaks had to find an indirect method. His team visited six caves that run along a south-north line, with the two southernmost ones being under the Gobi desert. Further north, three caves sit beneath a landscape of sporadic patches of permafrost, and the northernmost cave is right at the edge of Siberia's continuous permafrost zone.

The team focused on the 500,000-year history of stalagmites and similar rock formations in the caves. "Stalagmites only grow when water flows into caves," Vaks says. "It cannot happen when the soil is frozen." The team used radiometric dating to determine how old the stalagmites were. By building up a record of when they grew, Vaks could figure out when the ground above the caves was frozen and when it wasn't.

As expected, in most of the caves, stalagmites formed during every warm interglacial period as the patchy permafrost melted overhead.

But it took a particularly warm interglacial, from 424,000 and 374,000 years ago, for the stalagmites in the northernmost cave to grow ? suggesting the continuous permafrost overhead melted just once in the last 500,000 years.

At the time, global temperatures were 1.5??C warmer than they have been in the last 10,000 years. In other words, today's permafrost is likely to become vulnerable when we hit 1.5??C of global warming, says Vaks.

"Up until this point, we didn't have direct evidence of how this happened in past warming periods," says Ted Schuur of the University of Florida in Gainesville.

It will be very hard to stop the permafrost degrading as a warming of 1.5??C is not far off. Between 1850 and 2005, global temperatures rose 0.8??C, according to the 2007 report of the Intergovernmental Panel on Climate Change. Even if humanity stopped emitting greenhouse gases tomorrow, temperatures would rise another 0.2??C over the next 20 years. That would leave a window of 0.5??C ? but in fact our emissions are increasing. What's more, new fossil fuel power stations commit us to several decades of emissions.

Soggy permafrost

What are the consequences? The greatest concern, says Tim Lenton of the University of Exeter in the UK, is the regional landscape. Buildings and infrastructure are often built on hard permafrost, and will start subsiding. "Ice roads won't exist any more."

The increasingly soggy permafrost will also threaten the pipelines that transport Russian gas to Europe. "The maintenance and upkeep of that infrastructure is going to cost a lot more," says Schuur.

As for the methane that could be released into the atmosphere, Schuur estimates that emissions will be equivalent to between 160 and 290 billion tonnes of carbon dioxide.

That sounds like a lot, but is little compared to the vast amount humans are likely to emit, says Lenton. "The signal's going to be swamped by fossil fuel [emissions]."

He says the dangers of the permafrost greenhouse gases have been overhyped, particularly as much of the methane will be converted to carbon dioxide by microbes in the soil, leading to a slower warming effect.

Schuur agrees with Lenton that the methane emissions are "not a runaway effect but an additional source that is not accounted in current climate models".

Journal reference: Science, DOI: 10.1126/science.1228729

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Thursday, 21 February 2013

Thies: Law school debt 'unsustainable' over long term

CHAMPAIGN ? Today's law school students, on average, face a debt load of about $100,000 for legal education, the president of the Illinois State Bar Association said.

That figure, John Thies said, doesn't include debt they may have incurred as a result of undergraduate education.

Speaking at the University of Illinois College of Law on Tuesday, Thies told students that their counterparts over the next 10 to 15 years will probably face similar challenges.

But over the long term, that kind of debt for legal education is "unsustainable," given salaries in the profession.

Jobs that pay enough to satisfy the debt payments aren't forthcoming, he said.

"I don't see salaries changing," Thies said. "What's got to change is cost."

Thies, a shareholder in the Urbana law firm of Webber & Thies, said he didn't think law school could very well be cut from three years to two.

But he suggested "significant changes" could be made to the third year to help make students "practice-ready."

Upon becoming president of the state bar association, Thies created a task force to report on what effect law school debt is having on the delivery of legal services in Illinois.

For example, small law firms ? those with fewer than 10 employees ? may not be able to afford people who have to pay off high law school debt.

The task force scheduled five hearings around the state and heard testimony from 50 witnesses, he said. Now it's drafting a report on what can be done, both short and long term, to make a difference.

One student in the audience reported hearing a story of someone still paying off law school debt from 1993.

Thies said he didn't doubt that. He said some have described law school debt as "the mortgage for a house I can't live in" and "the debt I'll die with."

One student asked why, if law school costs are so high, aren't fewer students applying to law school.

Thies said applications to law schools have dropped substantially the last two years.

He said the nation "may have too many law schools." But he dismissed any notion that there are too many lawyers or law students, saying there's "a tremendous need" for legal services.

When asked what reforms law schools should make, Thies said he didn't want to pre-empt the task force's recommendations. But he said arrangements could be made to match law school students with "aging baby-boomers" in private practice so the young lawyers can eventually take over the practice.

He also said law schools could do a better job facilitating internships and externships for students, recognizing that many students can't afford to serve unpaid.

Separately, Thies said the bar association has launched a two-week food and fundraising campaign for eight regional food banks in Illinois, with the goal of providing 1 million meals for the hungry.

As of Tuesday, the "Lawyers Feeding Illinois" campaign had raised enough for 352,000 meals.

Source: http://www.news-gazette.com/news/education/2013-02-20/thies-law-school-debt-unsustainable-over-long-term.html

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Multiple tests needed to detect infection in low birth-weight newborns, study suggests

Feb. 20, 2013 ? New research by Case Western Reserve University School of Dental Medicine and Yale University School of Medicine finds that cultures commonly used to detect bacterial infections in low birth-weight newborns with early onset sepsis may actually overlook some germs.

The research done at Case Western Reserve supports the need for multiple detection methods, such as DNA genomic analyses and other independent culture technologies, to identify bacteria that culturing may miss, said Yiping Han, professor of Periodontics and Reproductive Biology at the Case Western Reserve dental school and the corresponding author on the study.

An analysis of 44 prematurely-born babies, the majority of whom were diagnosed with early onset sepsis, was published in the journal PLOS ONE article, "Comparative microbial analysis of paired amniotic fluid and cord blood from pregnancies complicated by preterm birth and early-onset neonatal sepsis."

"Culture independent technology has broadened our scope of understanding human pathogens," said Han. The testing, under the lead investigator and Case Western Reserve postdoctoral scholar Xiaowei Wang, analyzed umbilical cord blood and amniotic fluid samples from Yale University medical school.

The researchers found more than 20 bacterial species not discovered using standard culturing. Some of the uncultured species appeared in both the cord blood and amniotic fluid samples.

The uncultured bacteria were detected with DNA genomic analysis that Han's lab had used in a prior study that discovered the link between oral bacteria that causes still- or premature-births due to infected amniotic fluid that is supposed to be a sterile environment.

"By using molecular biology identity tools this is the first time we have shown that same microbes could move from the amniotic fluid into the fetal bloodstream," said Dr. Catalin S. Buhimschi, MD, from Yale University's Department of Obstetrics, Gynecology and Reproductive Sciences.

The bacteria enter the fetus' blood after the fetus ingests the amniotic fluid in the lungs or gastrointestinal tract.

Han said the discovery is further evidence of how oral bacteria travel into the maternal blood stream and eventually through the cord blood and amniotic fluid to the baby.

Researchers detected such uncultured bacteria as Fusobacterium nucleatum, which has a key-like mechanism that opens blood-vessel and cell walls to infect other areas of the body.

Han said DNA testing techniques were able for the first time to detect the oral bacteria -- Fusobacterium nucleatum, Begeyalla and Sneathia sanguinegens -- that brought on early neonatal sepsis and put newborns at risk of dying shortly after birth. Among these, Fusobacterium nucleatum was found at the same high frequency as the well-known Escherichia coli, putting the former on the same importance scale as the latter.

Early sepsis develops within 72 hours of birth. Its symptoms are varied, from apnea to low body temperatures. Four of every 1,000 births in the U.S. develop the infections.

Baby's blood or spinal fluid is cultured for bacteria. A positive culture confirms sepsis, but many babies exhibit the symptoms of infection unconfirmed by culturing.

Standard management is to administer antibiotics for three days while doctors monitor the response to treatment.

Dr. Vineet Bhandari, MD, DM, associate professor of Pediatrics, Obstetrics, Gynecology, and Reproductive Sciences and director of the Program in Perinatal Research at the Yale University School of Medicine, raises concerns that widespread use of antibiotics could increase antibiotic-resistant bacteria when the exact bacteria are not targeted.

"This research is important in finding the right bug to target for antibiotics," Bhandari said.

Detecting bacteria is also more complicated if the mother has an infection prior to birth and is treated with antibiotics, the neonatologist said. Bhandari explained that treating the mother eliminates many cultured bacteria, making it difficult to determine what is infecting the baby.

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The above story is reprinted from materials provided by Case Western Reserve University, via EurekAlert!, a service of AAAS.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Xiaowei Wang, Catalin S. Buhimschi, Stephanie Temoin, Vineet Bhandari, Yiping W. Han, Irina A. Buhimschi. Comparative Microbial Analysis of Paired Amniotic Fluid and Cord Blood from Pregnancies Complicated by Preterm Birth and Early-Onset Neonatal Sepsis. PLoS ONE, 2013; 8 (2): e56131 DOI: 10.1371/journal.pone.0056131

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_health/~3/_zwWB1h7D44/130220184953.htm

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Lady Gaga Goes Under The Knife For Hip Surgery

'I thought to myself, I'm alive, I'm living my dream, and this is just a bump in the road,' Gaga says about Wednesday's procedure.
By Gil Kaufman


Lady Gaga
Photo: Getty Images

Source: http://www.mtv.com/news/articles/1702309/lady-gaga-hip-surgery.jhtml

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