Burger King drops supplier linked to horsemeat


LONDON (AP) — British and Irish burger fans could face a Whopper shortage. Burger King says it has stopped buying beef from an Irish meat processor whose patties were found to contain traces of horsemeat.


The fast food chain said in a statement Thursday that it had dropped Silvercrest Foods as a supplier for its U.K. and Ireland restaurants as a "voluntary and precautionary measure."


Last week Silvercrest, which is owned by ABP Food Group, shut down its production line and recalled 10 million burgers from supermarket shelves in Britain and Ireland after horse DNA was found in some beef products.


Burger King said the decision to drop the supplier "may mean that some of our products are temporarily unavailable." It stressed that "this is not a food safety issue."


The presence of horsemeat in beef is a sensitive issue in Britain and Ireland, which do not have a tradition of eating horses. The British tabloid The Sun reported the Burger King story under the headline "Shergar King," a reference to a famous racehorse.


Products from another Irish firm and one in Britain also were contaminated by horsemeat. Most had only small traces, but one burger of a brand sold by the British supermarket chain Tesco contained 29 percent horsemeat.


Irish food officials say an ingredient imported from an unspecified European country and used as filler in cheap burgers is the likely source of the horsemeat contamination.


Burger King says its patties are made from 100 percent beef.


Officials say the horsemeat poses no risk to human health, but the episode has raised food security worries.


More concern arose Thursday when lawmaker Mary Creagh, environment spokeswoman for Britain's opposition Labour Party, said that several horses slaughtered in the country last year had tested positive for phenylbutazone, an anti-inflammatory drug given to horses that can cause cancer in humans.


"It is possible that those animals entered the human food chain," she said.


The Food Standards Agency confirmed that meat from five horses had tested positive for the drug, but said none had been approved for sale in Britain. It said the relevant food safety authorities were informed in cases where the meat was exported to other countries.


The agency said no horsemeat in the current scandal contained phenylbutazone.


Very little horsemeat is sold in Britain but the country sends thousands of horses a year abroad to be killed for meat.


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Wall Street advances despite Apple decline


NEW YORK (Reuters) - The Dow and S&P 500 advanced on Thursday, with the benchmark S&P index moving through the 1,500 level as solid economic data enabled investors to shrug off a steep decline in Apple shares.


Apple Inc dropped 10.1 percent to $462.17 after the technology giant missed Wall Street's revenue forecast for a third straight quarter as iPhone sales were poorer than expected, fanning fears its dominance of consumer electronics is slipping.


The drop wiped out roughly $50 billion in Apple's market capitalization to $435 billion, leaving the company vulnerable to losing its status as the most valuable U.S. company to second place ExxonMobil Corp, at $417 billion.


A trio of economic reports helped buoy the market, with data showing a decline in weekly jobless claims and an increase in manufacturing, while a gauge of future economic activity climbed.


"The S&P is up, that is a very important inflection point that a stock such as Apple can take a hit and the market can stay strong - that is because the U.S. economy is broadly getting stronger across the board," said Mike Binger, portfolio manager at Gradient Investment in Shoreview, Minnesota.


"Apple has been topping the headlines for the last three to four years. That phase is obviously past us and people are starting to talk about different stocks and they are gravitating towards different stocks."


The gains marked the first time the S&P 500 had risen above 1,500 since December 12, 2007 and put the index on pace for its seventh straight advance.


The advance for the S&P, and muted declines in the Nasdaq in spite of the decline in Apple, were viewed as a positive sign, as investors take encouragement from an improving global economy and move into stocks more closely tied to economic fortunes, such as industrials.


General Electric rose 1 percent to $22.16 and United Parcel Service gained 2 percent to $81.98. Of the 10 major S&P sectors, only technology, off 1.3 percent, was lower.


The Dow Jones industrial average gained 85.42 points, or 0.62 percent, to 13,864.75. The Standard & Poor's 500 Index gained 5.69 points, or 0.38 percent, to 1,500.50. The Nasdaq Composite Index dropped 5.84 points, or 0.19 percent, to 3,147.83.


The domestic data was in sync with those overseas showing growth in Chinese manufacturing accelerated to a two-year high this month and a buoyant Germany took the euro zone economy a step closer to recovery.


Apple's disappointing results drew a round of price-target cuts from brokerages. At least 14 brokerages, including Barclays Capital, Credit Suisse and Deutsche Bank, cut their price target on the stock by $142 on average. Morgan Stanley removed the stock from its 'best ideas' list.


In contrast to Apple, Netflix Inc surprised Wall Street Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the U.S. and abroad. Shares surged 36.9 percent to $141.36, its biggest percentage jump ever.


Diversified U.S. manufacturer 3M Co reported a 3.9 percent rise in profit, meeting expectations, on solid growth in sales of its wide array of products, which range from Post-It notes to films used in television screens. The shares edged up 0.2 percent to $99.66.


Corporate earnings have helped drive the recent stock market rally. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings, 66.9 percent have exceeded expectations, above the 65 percent average over the past four quarters.


(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)



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The Lede Blog: Clinton Testifies on Benghazi Attacks

The Lede followed Secretary of State Hillary Rodham Clinton’s testimony Wednesday before the Senate Foreign Relations Committee about the Sept. 11, 2012, attacks on the American Consulate in the eastern city of Benghazi, Libya, that killed Ambassador Chris Stevens and three other Americans.

Mrs. Clinton had been scheduled to testify before Congress last month, but an illness, a concussion and a blood clot near her brain forced her to postpone her appearance.

As our colleagues Michael R. Gordon and Eric Schmitt reported, four State Department officials were removed from their posts on last month after an independent panel criticized the “grossly inadequate” security at a diplomatic compound in Benghazi.

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Google Earnings Reveal Beginnings of a Facebook Problem on Search Revenue






Google beat Wall Street expectations with its fourth-quarter revenues of $ 14.42 billion, but the value of its ads continue to decline, an especially tricky problem with the company’s new search competition from Facebook. Google’s average cost-per-click decreased 6 percent from one year ago, meaning each ad it runs on its biggest business has less value than it did a year ago, continuing a fairly troubling trend for the search giant. It still managed to keep up its paid clicks by getting more and more people to use Google.


RELATED: Google Is Trying to Fix Its Targeted Ad Attitude Problem






Google has managed to offset the decline in click value with that kind of growth for almost a year now, but Facebook’s new Graph Search has the potential to offer users more personalized social-search results — and that could mean higher value for the ads next to them. How much longer can Google can maintain its delicate balance by sheer market power remains to be seen. The company is trying desperately to change its fate with a push for more Google+ integration, which would put advertisers closer to more personal Googling. But so far that hasn’t worked, if the earnings report is any indication. Google’s bet on volume will surely face a test from Facebook’s gamble on the future of social search, no matter what the rival CEOs are saying.


Social Media News Headlines – Yahoo! News





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See Bachelor Alum Helene Eksterowicz's Engagement Ring!







Style News Now





01/23/2013 at 11:00 AM ET











Helene Eksterowicz Engagement RingCourtesy Helene Eksterowicz


She may not have found true love during her time on The Bachelor in 2002, but Helene Eksterowicz certainly has now.


The winner of the second season of the hit ABC show, which starred bachelor Aaron Buerge, is engaged to her boyfriend, Andrew Goodman.



Goodman proposed to the former reality show contestant with a stunning emerald-cut ring, which he designed with a little help from Max Weiner Jewelers in Philadelphia.


And the bride-to-be couldn’t be happier with her fiancé’s taste in jewelry. “The ring is perfect,” Eksterowicz tells PEOPLE. “It’s exactly what I’ve always wanted.”


Goodman popped the question during a jaunt to the Poconos to celebrate Eksterowicz’s birthday, and the couple plans to tie the knot this summer. Tell us: Do you like Eksterowicz’s ring?


–Aili Nahas


PHOTOS: SEE MORE MEMBERS OF THE GINORMOUS CARAT CLUB HERE! 




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Beverage attorney: NYC drinks limit bad for public


NEW YORK (AP) — New York City's limit on the size of sugary drinks is an "extraordinary infringement" on consumer choice, a lawyer for the American Beverage Association and other critics said in court on Wednesday.


"New Yorkers do not want to be told what to drink," attorney James Brandt told Manhattan state Supreme Court Justice Milton Tingling.


Opponents also are raising questions of racial fairness alongside other complaints as the novel restriction faces a court test.


The NAACP's New York state branch and the Hispanic Federation have joined beverage makers and sellers in trying to stop the rule from taking effect March 12. Critics are attacking what they call an inconsistent and undemocratic regulation, while city officials and health experts defend it as a pioneering and proper move to fight obesity.


The issue is complex for the minority advocates, especially given that obesity rates are higher than average among blacks and Hispanics, according to the federal Centers for Disease Control and Prevention. The groups say in court papers they're concerned about the discrepancy, but the soda rule will unduly harm minority businesses and "freedom of choice in low-income communities."


The latest in a line of healthy-eating initiatives during Mayor Michael Bloomberg's administration, the beverage rule bars restaurants and many other eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces. Violations could bring $200 fines; the city doesn't plan to start imposing those until June.


The city Board of Health approved the measure in September. Officials cited the city's rising obesity rate — about 24 percent of adults, up from 18 percent in 2002 — and pointed to studies linking sugary drinks to weight gain. Care for obesity-related illnesses costs more than $4.7 billion a year citywide, with government programs paying about 60 percent of that, according to city Health Commissioner Dr. Thomas Farley.


"It would be irresponsible for (the health board) not to act in the face of an epidemic of this proportion," the city says in court papers. The National Association of Local Boards of Health and several public health scholars have backed the city's position in filings of their own.


Opponents portray the regulation as government nagging that turns sugary drinks into a scapegoat when many factors are at play in the nation's growing girth.


The American Beverage Association and other groups, including movie theater owners and Korean grocers, sued. They argue that the first-of-its-kind restriction should have gone before the elected City Council instead of being approved by the Bloomberg-appointed health board.


Five City Council members echo that view in a court filing, saying the Council is "the proper forum for balancing the city's myriad interests in matters of public health." The Bloomberg administration counters that the health board, made up of doctors and other health professionals, has the "specialized expertise" needed to make the call on limiting cola sizes.


The lawsuit also argues the rule is too narrow to be fair. Alcohol, unsweetened juice and milk-based drinks are excluded, as are supermarkets and many convenience stores — including 7-Eleven, home of the Big Gulp — that aren't subject to city health regulations.


The NAACP and the Hispanic Federation, a network of 100 northeastern groups, say minority-owned delis and corner stores will end up at a disadvantage compared to grocery chains.


"This sweeping regulation will no doubt burden and disproportionally impact minority-owned businesses at a time when these businesses can least afford it," they said in court papers. They say the city should focus instead on increasing physical education in schools.


During Bloomberg's 11-year tenure, the city also has made chain restaurants post calorie counts on their menus and barred artificial trans fats in french fries and other restaurant food.


In general, state and local governments have considerable authority to enact laws intended to protect people's health and safety, but it remains to be seen how a court will view a portion-size restriction, said Neal Fortin, director, Institute for Food Laws and Regulations at Michigan State University.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


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IBM's outlook lifts Dow, Nasdaq amid tech rally

NEW YORK (Reuters) - Stocks edged higher on Wednesday as IBM and other tech companies continued a trend of results that beat Wall Street's expectations and propelled the market to a five-day advance.


Internet search company Google Inc added to the advance, rising 5.1 percent to $738.65 a day after Google reported its core business outpaced expectations. Revenue was also higher than expected.


International Business Machines Corp late Tuesday forecast better-than-anticipated 2013 results and also posted fourth-quarter earnings and revenue that beat expectations. The results helped to allay concerns about the tech sector after Intel Corp gave a weak outlook last week. IBM, the world's largest technology services company, rose 3.8 percent to $203.57.


"Tech companies are really shattering expectations, which is obviously helping markets. There doesn't seem to be an end to this rally," said Todd Schoenberger, managing partner at LandColt Capital in New York.


But gains were limited in the S&P 500 a day after it closed at a level not seen since December 2007. Many investors were also holding off to see earnings from Apple Inc , the most valuable U.S. company which was due to report after the market closes.


McDonald's edged higher 0.2 percent to $93.11 after reporting a rise in fourth-quarter earnings, lifted by an increase in same-store sales. United Tech's earnings fell from the prior year, hurt by large restructuring charges. Shares edged up at $87.91.


On the downside, Coach Inc slumped 15 percent to $51.40 as the S&P's biggest percentage loser after reporting sales that missed expectations.


After the market closes, investors will scour Apple's results for signs the tech giant can continue to grow at an accelerated pace. The stock has been pressured recently by questions raised about demand for Apple's prospects. The stock has fallen 5 percent since the start of the year, compared with gains of 4.6 percent in the S&P 500. It rose 0.4 percent to $507.04 on Wednesday.


"If Apple comes out with a blockbuster number, that would reinforce the argument that stocks are poised to do well in the first part of 2013," Schoenberger said.


The Dow Jones industrial average <.dji> was up 55.48 points, or 0.40 percent, at 13,767.69. The Standard & Poor's 500 Index <.spx> was up 0.06 points, or 0.00 percent, at 1,492.62. The Nasdaq Composite Index <.ixic> was up 10.89 points, or 0.35 percent, at 3,154.06.


Both the S&P 500 and Dow Jones industrial average hit five-year closing highs on Tuesday, with recent gains largely fueled by a strong start to the earning season.


According to the latest Thomson Reuters data, of the 74 S&P 500 companies that have reported earnings so far, 62.2 percent have topped expectations, roughly even with the 62 percent average since 1994, but below the 65 percent average over the past four quarters.


Overall, S&P 500 fourth-quarter earnings rose 2.6 percent, according to Thomson Reuters data. That estimate is above the 1.9 percent forecast from the start of earnings season, but well below the 9.9 percent fourth-quarter earnings forecast from October 1, the data showed.


Republican leaders in the U.S. House of Representatives aim on Wednesday to pass a bill to extend the U.S. debt limit by nearly four months, to May 19. The White House welcomed the move, saying it would remove uncertainty about the issue.


The debt limit issue has hung over the market for weeks, with many investors worried that if no deal is reached to raise the limit, it could have a negative impact on the economy.


(Editing by W Simon and Kenneth Barry)



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The Lede Blog: Prince Harry Compares War to PlayStation and Taliban Is Not Amused

A Taliban spokesman said on Tuesday that Prince Harry must have “mental problems,” following the broadcast of remarks by the royal in which he said that killing militants from an Apache helicopter was similar to playing video games.

As soon as Britain’s ministry of defense announced on Monday that Prince Harry had left Afghanistan, ending his four-month deployment there, the British news media rushed to broadcast video of the royal officer at war, which was recorded with his cooperation on the condition that it not be released until his tour was over.

Britain’s Channel 4 News broke into its bulletin on Monday night just minutes after the announcement to broadcast its edit of the footage, which was shot last month at Camp Bastion in Afghanistan’s Helmand Province by the British Press Association.

A video report from Britain’s Channel 4 News shot during Prince Harry’s recent deployment to Afghanistan.

The Channel 4 News report drew attention to how frequently the prince, whose mother was being chased by photographers when she died in a fatal car accident, mentioned his distaste for the British press.

At one stage in the interview, Prince Harry said that he was not troubled by killing militants. “Take a life to save a life,” he said. “If there’s people trying to do bad stuff to our guys, then we’ll take them out of the game.”

In another edit of the footage, posted online by The Guardian, Prince Harry, who is known as Captain Wales in the army, explained that he was glad to have been “pushed forward to the front seat,” the one reserved for the attack helicopter’s gunner. That was, he said, “a joy for me because I’m one of those people that loves playing PlayStation and Xbox, so with my thumbs I like to think I’m probably quite useful — if you ask the guys I thrash them at FIFA the whole time,” referring to a popular video game series.

“This is a serious war, a historic war, resistance for us, for our people,” a Taliban spokesman, Zabiullah Mujahid, told Agence France-Presse in response, “and now this prince comes and compares this war with his games, PlayStation or whatever he calls it.”

But the spokesman added, “we don’t take his comments very seriously, as we have all seen and heard that many foreign soldiers, occupiers who come to Afghanistan, develop some kind of mental problems on their way out.”

In another part of the interview, posted online by The Telegraph, Prince Harry said that his brother, Prince William, was jealous of him. “He’d love to be out here and, to be honest with you, I don’t see why he couldn’t,” Harry said. “No one knows who’s in the cockpit. Yes you get shot at, but, you know, if the guys who are doing the same job as us are being shot at on the ground, then I don’t think there’s anything wrong with us being shot at as well. Yeah, people back home might have issues with that, but we’re not special.”

Video of remarks by Prince Harry about how much his brother would like to serve in Afghanistan.

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Canada wants RIM organic growth, may have to review handset sale






OTTAWA (Reuters) – The Canadian government wants BlackBerry maker Research in Motion to continue to be a global leader and grow organically, and Ottawa may have to review a future sale of its handset business, Industry Minister Christian Paradis said on Tuesday.


“We hope to see RIM remain a global leader and player, and make sure it grows organically,” Paradis told Reuters by phone from Germany, where he is meeting with industrial leaders.






He also said the government did not intend at present to open up Canada’s telecommunications sector further to foreign investment.


(Reporting by Randall Palmer Editing by W Simon)


Wireless News Headlines – Yahoo! News





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Kelly Clarkson & Fiancé Brandon Blackstock Attend Inaugural Ball















01/22/2013 at 11:35 AM EST







Kelly Clarkson and Brandon Blackstock


Courtesy Kelly Clarkson


After helping President Barack Obama begin his second term with a powerful rendition of "My Country, 'Tis of Thee," Kelly Clarkson celebrated in style.

The singer – who is engaged to Nashville-based talent manager Brandon Blackstock – attended the inaugural ball with her fiancé on Monday.

Sharing her political partying experience with her 2.6 million followers, Clarkson, 30, chronicled her evening on Twitter.

"My dress barely fit in the car for tonight's festivities. I feel like Cinderella! Thank you Oscar De La Renta!" she Tweeted, revealing a photo of herself wearing a floral patterned gown.

Then it was time to pose for photos with Blackstock. "Me and Brandon in our 'fancy' attire :) Fun night!" she later Tweeted.

Though Clarkson assured followers she was having a ball, she credited the First Lady with getting the festivities going.

"Just partied at the White House ....I kid you not, Michelle Obama stood up and got the party started ....seriously cool First Lady :)," she Tweeted.

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