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Stock futures edge higher ahead of "cliff" talk resumption

Label: Business

NEW YORK (Reuters) - Stock index futures edged higher on Wednesday, indicating the S&P 500 may stem its worst two-day drop since mid-November, ahead of the resumption of "fiscal cliff" negotiations.

U.S. President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on Wednesday to address the unfinished negotiations with Congress.

Obama is due to arrive in Washington on Thursday to resume talks on the cliff, a sharp rise in taxes and deep spending cuts due to begin on January 1 that could tip the U.S. economy into recession.

"This is what we've come to - the President might get on a plane today and this is what the markets might react to," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

"It's all about the fiscal cliff."

A Republican plan that failed to gain traction last week triggered the recent decline in the S&P 500 <.spx>, highlighting market sensitivity to headlines centered around the talks.

Investors will also look to housing data for signs of improvement in that sector of the economy, with the S&P Case/Shiller Home Price Index for October expected at 9 a.m. (1400 GMT).

Housing data has shown modest improvement in recent months, and continued strength could help support the sagging economy.

"The data is two months old, so it's interesting, but I don't know that people will react to it given these other more timely events," said Forrest.

S&P 500 futures rose 3 points and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 17 points, and Nasdaq 100 futures climbed 3.25 points.

The benchmark S&P index is up 13.4 percent for the year, and has recouped nearly all of the losses suffered in the wake of the U.S. elections, when the fiscal cliff concerns moved to the forefront of investors' focus.

China's Sinopec Group and ConocoPhillips will research potentially vast reserves of shale gas in southwestern China over the next two years, state news agency Xinhua reported.

An outage at one of Amazon.com Inc's web service centers hit users of Netflix Inc's streaming video service on Christmas Eve and was not fully resolved until Christmas Day, a spokesman for the movie rental company said on Tuesday.

In Asian markets, the Nikkei moved to a new nine-month high but shares elsewhere in the region were capped in thin holiday trade, with investors focusing on the fate of U.S. negotiations to avert a budget crunch looming at the end of the year.

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)

Egyptians fret over economy after rancorous vote on constitution

Label: World

CAIRO (Reuters) - Egypt prepared to announce on Tuesday the result of a vote on a new constitution that Islamist President Mohamed Mursi hails as a step toward stability in a country beset by political and economic crisis.

But critics say that by ramming through the basic law, Mursi has angered his liberal, leftist and Christian opponents, and may have squandered any chance of building a broad consensus on tax rises needed to rein in a crushing budget deficit.

Unofficial tallies from Mursi's Muslim Brotherhood showed the charter was approved by a 64 percent majority. The electoral commission will announce the official result at 1700 GMT, with the final numbers widely expected to confirm earlier estimates.

Mursi believes the constitution will end a protracted period of turmoil that has haunted the most populous Arab nation since the fall of military-backed strongman Hosni Mubarak in 2011.

But ordinary people and some commentators worry that Mursi's approach in pushing through the contentious text will only galvanize his rivals to capitalize on any public backlash against austerity rather than help sell reforms to the nation.

Hossam El-Din Ali, a 35-year-old newspaper vendor in central Cairo, said he agreed the new constitution would help bring some political stability but like many others he feared the possible austerity measures lying ahead.

"People don't want higher prices. People are upset about this," he said. "There is recession, things are not moving. But I am wishing for the best, God willing."

If the "yes" vote is confirmed, a parliamentary election will follow in about two months, setting the stage for Islamists to renew their struggle with more liberal-minded opponents.

On the political front, tensions remain high. The opposition says the constitution, crafted mostly by Mursi's Islamist allies, fails to guarantee personal freedoms and the rights of women and minorities. The government denies this.

ECONOMIC WORRIES

Once a darling of emerging market investors, Egypt's economy has taken a hammering since Mubarak's fall.

The budget deficit surged to a crippling 11 percent of gross domestic product in the financial year that ended in June 2012 and is forecast to exceed 10 percent this year.

In a further worrying sign, Egypt has made it illegal for travelers to carry more than $10,000 in cash in or out of the country amid growing fears the government may not be able to get its fragile finances under control.

Reflecting investor concerns, Standard and Poor's cut Egypt's long-term credit rating this week and said another cut was possible if political turbulence worsened.

Adding fuel to people's worries, the central bank also said it was taking steps to safeguard bank deposits, in a statement which emerged after some Egyptians said they had taken out cash out of concern their accounts would be frozen by authorities.

Without broad support, Mursi will find it hard to implement reforms needed to secure a $4.8 billion loan from the International Monetary Fund.

Shortly before the referendum, Mursi enraged many by introducing hikes on the sales tax on goods and services that ranged from alcoholic beverages, cigarettes and mobile phone calls to automobile licenses and quarrying permits.

In an embarrassing policy U-turn, he withdrew them within hours under criticism from his opponents and the media.

Facing public anger, the Muslim Brotherhood's party, which propelled Mursi to office in an election earlier this year, may now also face a tougher fight in the parliamentary election.

(Writing by Maria Golovnina; Editing by Alistair Lyon)

Mundie, one of Gates’ successors, to retire from Microsoft

Label: Technology

NEW YORK (Reuters) – Craig Mundie, one of two Microsoft Corp executives who took over Bill Gates‘ role at the company, has relinquished control of Microsoft’s large research organization and is to retire from the company in 2014.

Mundie is taking on a new role as a senior adviser to Chief Executive Steve Ballmer, according to a memo circulated internally earlier this month but only made public on Monday.

Eric Rudder, another Microsoft veteran, is taking on responsibility for Microsoft Research, Trustworthy Computing, and the Technology Policy Group, which were all run by Mundie.

A 20-year Microsoft veteran, Mundie was one of two men hand-picked by co-founder Gates to take over leadership of the technical side of Microsoft when he retired from day-to-day work at the company in 2008.

Mundie took over responsibility for the company’s long-term research activities, while Ray Ozzie became chief software architect. Ozzie left Microsoft in 2010. According to Ballmer’s memo, Mundie will retire from Microsoft in 2014, when he will be 65.

Mundie’s new role was first reported on Monday by the All Things D tech blog.

(Reporting By Bill Rigby; Editing by Steve Orlofsky)

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Predicting who's at risk for violence isn't easy

Label: Health

CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.

Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.

But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.

"They're yellow flags. They only become red flags once the blood is spilled," he said.

Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.

Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)

Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.

Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.

"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."

The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."

In a guidelines for families, the academy lists several risk factors for violence, including:

—Previous violent or aggressive behavior

—Being a victim of physical or sexual abuse

—Guns in the home

—Use of drugs or alcohol

—Brain damage from a head injury

Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.

Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.

Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.

According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.

Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.

Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.

And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.

All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.

Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.

Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.

Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.

___

Online:

American Academy of Child & Adolescent Psychiatry: http://www.aacap.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

Yen on defensive on U.S. fiscal worry, helps Nikkei

Label: Business

TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday.

The dollar rose to a 20-month high of 84.965 yen early on Tuesday in Asia, as Japanese markets caught up with global investors who had reacted overnight to incoming Japanese Prime Minister Shinzo Abe's weekend comments that raised the pressure on the Bank of Japan.

During a meeting on Tuesday with officials from Japan's major business lobby, Keidanren, Abe reiterated calls on the BOJ to conduct bold monetary easing to beat deflation by setting an inflation target of 2 percent.

The head of Abe's coalition partner said on Tuesday the coalition party and Abe had agreed to set a 2 percent inflation target and compile a large stimulus budget to help the economy return to growth and overcome deflation.

The yen has come under pressure as a result of expectations that the BOJ will be compelled to adopt more drastic monetary stimulus measures next year.

The dollar was expected to stay firm this week as investors repatriate dollars, and as the U.S. fiscal impasse is likely to continue to sap investor appetite for risky assets and raise the dollar's safe-haven appeal.

"The dollar is seen relatively well bid, with all focus on the fiscal cliff," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.

"Negotiations may be carried over the weekend, but markets still expect a deal to be struck by December 31. It is unthinkable that the U.S. will risk driving its economic growth sharply lower by not agreeing to avoid it."

U.S. lawmakers and President Barack Obama were on Christmas holiday and talks were unlikely to resume until later in the week.

House of Representatives Speaker John Boehner failed to gain support for a tax plan at the end of last week, raising fears that the United States may face the "fiscal cliff" of some $600 billion in automatic spending cuts and tax increases set to start on January 1.

Japan's Nikkei stock average <.n225> resumed trading after a three-day weekend with a 1.1 percent gain, recapturing the key 10,000 mark it ceded on Friday after Boehner's failure sparked a broad market sell-off and the Tokyo benchmark closed down 1 percent. The Nikkei was likely to be supported as long as the yen stayed weak. <.t/>

"Ongoing optimism about the weak yen is lifting hopes that exporters' earnings will be better than expected," said Hiroichi Nishi, general manager at SMBC Nikko Securities.

Analysts say a near-term correction may be possible as the index is now in "overbought" territory after gaining 16.2 percent over the last six weeks, hitting a nine-month high last Friday. Its 14-day relative strength index was at 72.34, above the 70 level that signals an overbought condition.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> nudged up 0.1 percent, driven higher by surging Shanghai shares, as most Asian bourses were shut for Christmas.

The Shanghai Composite Index <.ssec> soared over 2 percent to five-month highs as investors bought property stocks on mounting optimism about the sector. Taiwan shares <.twii> jumped 1.3 percent on gains in technology and financial shares.

Asset performance in 2012: http://link.reuters.com/muc46s

2012 commodities returns: http://link.reuters.com/faz36s

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U.S. HOLDS 2013 KEY

Goro Ohwada, president and CEO at Japan-based fund of hedge funds Aino Investment Corp, said investors were likely to focus on economic fundamentals and the United States for cues on investment direction in 2013.

"There is a feeling that an investment strategy based on economic fundamentals may finally work next year, with asset prices more closely reflecting fair value. The problem is, we don't know yet which asset is a better bet than others," Ohwada said, adding that oil and gold appeared to be near their highs.

Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory, said commodities and energy prices will likely move in tight ranges in 2013, with investors eyeing political events, including the U.S. fiscal cliff outlook, Italian parliamentary election set for February 24-25, and Germany's elections in September.

"The macroeconomic policies taken this year around the world to support growth are expected to result in a moderate recovery in 2013 to reduce an excessive downside risk to prices. This will likely keep commodities, gold and energy prices near their highs," Niimura said.

(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Edmund Klamann and Daniel Magnowski)

Afghan policewoman kills coalition contractor in Kabul: NATO

Label: World

KABUL (Reuters) - An Afghan woman wearing a police uniform shot dead on Monday a civilian contractor working for Western forces in the police chief's compound in Kabul, NATO said.

The incident is likely to raise troubling questions about the direction of an unpopular war.

It appeared to be the first time that a woman member of Afghanistan's security forces carried out such an attack.

There were conflicting reports about the victim.

A spokesman for the NATO-led International Security Assistance Force (ISAF) said a U.S. police adviser was killed by an Afghan policewoman. Then ISAF said in a statement only that it was a "contracted civilian employee" who was killed.

Mohammad Zahir, head of the police criminal investigation department, described the incident as an "insider attack" in which Afghan forces turn their weapons on Western troops they are supposed to be working with. He initially said the victim was a U.S. soldier.

After more than 10 years of war, militants are capable of striking Western targets in the heart of the capital, and foreign forces worry that Afghan police and military forces they are supposed to work with can suddenly turn on them.

The policewoman approached her victim as he was walking in the heavily guarded police chief's compound in a bustling area of Kabul. She then drew a pistol and shot him once, a senior police official told Reuters.

The police complex is close to the Interior Ministry where in February, two American officers were shot dead at close range at a time anger gripped the country over the burning of copies of the Muslim holy book at a NATO base.

"She is now under interrogation. She is crying and saying 'what have I done'," said the official, of the police officer who worked in a section of the Interior Ministry responsible for gender awareness issues.

TIPS FOR TROOPS

The insider incidents, also known as green-on-blue attacks, have undermined trust between coalition and Afghan forces who are under mounting pressure to contain the Taliban insurgency before most NATO combat troops withdraw by the end of 2014.

Security responsibilities in a country plagued by conflict for decades will be handed to Afghan security forces.

Many Afghans fear a civil war like one dominated by warlords after the withdrawal of Soviet occupying forces in 1989 could erupt again, or the Taliban will make another push to seize power if they reject a nascent peace process.

At least 52 members of the NATO-led International Security Assistance Force have been killed this year by Afghans wearing police or army uniforms.

Insider attacks now account for one in every five combat deaths suffered by NATO-led forces in Afghanistan, and 16 percent of all U.S. combat casualties, according to 2012 data.

Hoping to stop the increase in the attacks, Afghan Defense Ministry officials have given their troops tips in foreign culture.

They are told not to be offended by a hearty pat on the back or an American soldier asking after your wife's health.

NATO attributes only about a quarter of the attacks to the Taliban, saying the rest are caused by personal grievances and misunderstandings. Last year, there were 35 deaths in such attacks.

Afghan forces are vulnerable to "insider attacks" of their own. In Jawzjan province in the north, a police commander shot and killed five comrades overnight, the Interior Ministry said.

Last year, he defected from the Taliban, said the ministry.

Taliban spokesman Zabihullah Mujahid said in a statement that the commander had rejoined the Taliban. That could not be confirmed.

(Writing by Michael Georgy; Editing by Robert Birsel)

Atheist Kids and Bullying: Just an Xbox and a Football Game Away From Redemption

Label: Technology

I’ll never forget the year my eight-year-old daughter came home from school saying she got in trouble for going to the bathroom.

“I was afraid,” she said, “that the devil was coming out of the mirror to get me…. I wanted Aya to stay with me until I was done.”

Like any parent, I sat her down and asked her to tell me why she would ever think a mirror could spawn something as terrifying as that.

“Susie told me because I didn’t believe in god, the devil was coming to take my soul.”

MORE: Bullying the Bullies: What to Do to Save the Next Amanda Todd

“Susie” as we’ll call her, was a fellow eight-year-old student at my daughter’s Catholic school. Susie attended church every Sunday with her family—the same church that many of her classmates to this day all go to.

Was my daughter being bullied for being an atheist? I quickly dismissed it. After all, these were only eight-year-old girls, and it wasn’t like we talked about god hating with our morning cereal.

I soon noticed a new pattern of my daughter: She wouldn’t enter a bathroom without a friend or parent and began wetting the bed at night for fear of our extensive collection of bathroom mirrors pulling her into almighty hell at 2 a.m.

Sure enough, the religious eight-year-old was still pressuring my daughter to consider her morality, spirituality and reason for living daily in the school bathroom.

“When the child goes to school, and encounters for the first time other kids who don’t believe the same thing, whether it’s no belief or a different belief system, that can rock a kid’s world.”

I got on the phone and made sure the principal was aware of the bullying, that the child was reported and that my daughter would hopefully make the choice not to play with her anymore. The school thought I was a little crazy. Bullying was getting punched in the stomach in a dark place behind the school, not a little girl being taunted for not believing she was going to have life eternal. This was a new place they were afraid to gain control of. The principal, a former nun, kept a tight lip.

According to the American Society for the Prevention of Cruelty to Children, every day “an estimated 160,000 students in the U.S. refuse to go to school because they dread the physical and verbal aggression of their peers. Many more attend school in a chronic state of anxiety and depression.”

Courtney Campbell, Professor of Religion and Culture at Oregon State University, says he encountered the same case with his own children who were told at a very early age by some of their “friends” that they were “going to hell.” Though there were no physical beatings, the “psychic bullying” may have been worse.

“There is a phenomenon of religious-bullying at an early age, though in my own view/experience with raising my kids, it’s less of an issue than lookism [obese kids], size [‘big’ bullies], or gender, or clothes, or any of a number of things that kids do to manifest power over others,” says Campbell.

He points out that in most conservative/evangelical/fundamentalist Christian traditions, kids are taught at a very early age in their Sunday schools or summer bible camps that there’s only one path to happiness and salvation. That teaching, absorbed at a young age, is on its own rather threatening to the child.

Blame it on fear, maybe a calling out of one’s most sacred and learned family beleifs, but this form of push and shove is only getting more sophisticated.

Rachel Wagner, Associate Professor for the Department of Philosophy and Religion at Ithaca College and author of Godwired: Religion, Ritual and Virtual Reality, says we are overlooking a major player of the religious bullying model—video games.

“If we compare video games to rituals as similar kinds of interactive experiences that are meant to shape how we see ourselves and others in the world, then we can argue something more basic—that video games (like rituals) can teach people habits of encounter—and offer youth deeply problematic models of encounter with difference,” says Wagner, who adds that in her next book, she’ll argue that religion has always had the ability to be “played” like a game, a religious encounter she coins “shooter religion.”

While Wagner admits it’s very important to remember that all world religions also have “deep and abiding practices urging compassion, understanding, tolerance, and social justice,” in today’s media-soaked society, feeling the need to retreat into a simpler world where people can be reduced to camps can be terribly tempting.

Stacy Pershall, author of Loud in the House of Myself: Memoir of a Strange Girl, says that growing up in Prairie Grove, Arkansas, in an athletics-focused, Christian bible belt, she was used to being surrounded by “Jesus talk.”

Pershall, who was bullied for being a “strange girl,” when young, unathletic and atheist to boot, now works and empowers high school and college students as a writing teacher and mental health speaker.

“Although it still makes my heart pound a little to stand in front of a crowd and admit that I don’t believe in god (as I recently did at Catholic University in D.C.), somebody needs to do it. I get to be the adult who says to kids, ‘I’m an atheist, I have morals, I have friends, I’m happy, and I care about how you feel.’ That’s a wonderful, powerful thing. I get to tell bullied kids who might be considering suicide that they’re not alone, and that they have kindred spirits. It’s what the Flying Spaghetti Monster put me on Earth to do.”

Were you ever bullied? Leave what you were bullied about in COMMENTS.

These are solely the author’s opinions and do not represent those of TakePart, LLC or its affiliates.

Related Stories on TakePart:

• 5 Things to Keep in Mind About Bullying

• A Bully’s Paradise: Hidden Halls, Dark Corners and No Supervision

• Mother Bullied to Abort Unborn Twins?

Amy DuFault is a writer and editor whose work has been published in EcoSalon, Huffington Post, Ecouterre, Organic Spa, Coastal Living, Yahoo!, The Frisky and other online and print publications. In addition to being a former co-owner of an eco-boutique, she coaches and connects the sustainable fashion community to feed her soul. She also dreams of singing in an all-girl punk band even though she has stage fright. @amytropolis | TakePart.com

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Kerri Walsh Jennings Expecting a Girl

Label: Lifestyle

Mom & Babies
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12/24/2012 at 08:15 AM ET

Kerri Walsh Jennings Expecting a Girl
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Kerri Walsh Jennings is thinking pink.

The three-time Olympic gold medalist found out the sex of her baby on the way live on Today Monday.

Walsh Jennings, husband Casey Jennings and sons Joseph, 3½, and Sundance, 2½, continued a previous Christmas tradition, having their doctor pen the baby’s gender on an ornament to reveal that come April, they’ll be welcoming a girl.

“We’re going to share something so special today and I’ve been dying for two months to find out,” the beach volleyball star, 34, said before breaking the news through tears. “Oh my God — we’re having a girl!”

“It feels a little cheesy if I overthink it, but I’m just not going to overthink it,” Walsh Jennings told Today prior to the announcement. “I feel like people are along for the ride with us. We’ve gotten so many words of encouragement … I welcome all the love and prayers I can get!”

– Sarah Michaud