Twitter co-founders move Obvious Corp into spacious new digs






SAN FRANCISCO (Reuters) – Evan Williams and Biz Stone, the co-founders of Twitter, have leased three sprawling floors in a historic downtown San Francisco tower for their low-profile start-up incubator, The Obvious Corporation.


Obvious said Friday it leased 75,000 square feet at the busy 760 Market Street location – known as the Phelan Building – in one of the city’s larger commercial real estate deals in recent months.






The downtown space will be able to hold roughly 500 employees and signals ambitions at Obvious, which was re-constituted when Williams and Stone both left Twitter in 2011.


The incubator, with no more than two dozen employees, has mostly stayed out of the press except when it unveiled two new blogging platforms called Medium and Branch last September.


Although still thinly staffed, Obvious’s new space is larger than start-up Pinterest’s recently inked lease in the city.


“We need the right space from which to grow the Medium team and position Obvious to focus on bringing our new ideas to life,” Obvious CEO Williams said in a statement Friday about the new lease.


The company will occupy the seventh, eighth and ninth floors of the triangular building, which wraps around a central courtyard, said Jenny Haeg, a real estate agent who has brokered leases for Square Inc, Dropbox, Airbnb and other large tech startups.


(Reporting by Gerry Shih; Editing by Bob Burgdorfer)


Internet News Headlines – Yahoo! News





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Marla Sokoloff Blogs: Adventures in Baby Traveling

Marla Sokoloff's Blog: Adventures in Baby Traveling
Shady ladies in Hawaii – Courtesy Marla Sokoloff


Our celebrity blogger Marla Sokoloff is a new mama!


Since audiences first got to know her at age 12 as Gia on Full House, Sokoloff has had many memorable TV roles — Jody on Party of Five, Lucy on The Practice, Claire on Desperate Housewives – as well as turns on the big screen in Whatever It Takes, Dude, Where’s My Car? and Sugar & Spice.


Sokoloff, 32, also sings and plays guitar and released an album, Grateful, in 2005.


She wed her husband, music composer Alec Puro, in November 2009 and the couple — plus pup Coco Puro — make their home in Los Angeles.


You can find Marla, now mom to 11-month-old daughter Elliotte Anne, on Twitter.


Happy 2013! I don’t know about you, but I’m completely amazed at how fast 2012 flew by! I must admit, on New Year’s Day I found myself a little weepy to say goodbye to the year that my little Elliotte came into this world. I realized that as long as I’m on this earth I will always have a soft spot for the year 2012, as it was a complete life and game-changer for me. (Clearly it’s also the year that turned me into a total sap!)


As far as resolutions go, I have a few. They include the usual suspects (exercise more, get more sleep, drink more than four sips of water per day!) but my main focus is going to be on my beloved iPhone and our very dysfunctional relationship.


I really want to work on being in the present and putting that thing down so I can suck up every delicious moment with my family. The social media and pinboards will just have to wait until after my daughter goes to bed. Baby steps!


Last week we hit a huge milestone … Elliotte took her first steps and is now walking (albeit a bit drunk-like) almost on her own! The moment was truly unbelievable and one that left me in tears (shocking … I know) as I was simply overwhelmed with joy. I was just so proud of her.


This is where my resolution isn’t a good thing because — had I not had my trusty iPhone glued to my body — I might have missed the moment. Her grandparents would have killed me! I’m just saying…


Marla Sokoloff's Blog: Adventures in Baby Traveling
Happy New Year! – Courtesy Marla Sokoloff


We spent our Christmas vacation in paradise on the Big Island of Hawaii, but I’m here to tell you that getting there was nothing short of a nightmare. I’m not going to lie or candy-coat this blog at all because this experience was one I never want to relive.


All of my friends warned me about baby airplane travel … basically it could go either way. Kids are wild cards and you never really know what you’re going to get. So in preparation for my little wild card, I boarded our flight armed with earplugs and chocolates for the innocent passengers that could potentially be caught in the line of fire, so to speak. All the while knowing that I will never need to bring out said earplugs … I mean, my child is perfect after all!


This wasn’t Elliotte’s first flight — over the summer we traveled to San Francisco and my little angel slept for the hour flight each way, so I was certain we had this Hawaiian excursion in the bag.


I came equipped with two giant diaper bags. One was filled with diaper bag essentials (diapers, wipes, pacifiers, bottles, change of clothes for both of us) and the other ridiculously large bag was filled with toys and snacks. So many toys and snacks!! If this plane went down, Elliotte could feed the whole cabin with her copious supply of puffs and Cheerios. Basically the plan was, if this kid wasn’t sleeping, I was going to keep her busy and well-fed!


My special edition diaper bag also contained an emergency item. An SOS of sorts. An article that is generally considered a baby no-no in my house, but one that was only to be revealed if absolutely 100 percent necessary. Friends, I’m talking about the iPad. I loaded my secret weapon up with episodes of Sesame Street and adorable farm animal applications that looked like they would keep Elliotte entertained for at least a temper tantrum or two.


Very much like the aforementioned earplugs, I felt pretty confident that our no-no item wouldn’t be making an appearance.


Marla Sokoloff's Blog: Adventures in Baby Traveling
Before takeoff… – Courtesy Marla Sokoloff


As our flight took off, I could see that Elliotte was not the happy camper I know and love. Her face turned beet-red within seconds and she was thrashing in her carseat as if it was a torture device. The tears were flowing fast and her scream was one that could not be silenced.


I looked at my husband, whose eyes said, “Bring out the iPad!!” but I knew it was way too early in our journey to pull such tricks out of sleeves.


As Alec handed out the chocolate and earplugs to our unlucky neighbors, I brought out some of Elliotte’s favorite toys. Every toy that was presented was met with a louder scream. I moved on to my trusted stash of snacks — surely a handful of puffs would soothe this outburst. Fail. I sang. I danced. I peek-a-booed. Nothing.


How can this be? The seat belt sign hasn’t even been turned off yet and I have pretty much emptied out the contents of my special-edition diaper bag!


Once the captain decided to put me out of my misery and turned the seat belt sign off, I ripped Elliotte out of her carseat (the one I brought thinking she would sleep in) and decided a nice walk down the aisle would do us both some good.


That mission was quickly aborted as the scream-fest continued to unaffected rows that were surely enjoying their cocktails and weekly gossip magazines.


Marla Sokoloff's Blog: Adventures in Baby Traveling
My beach baby in Hawaii – Courtesy Marla Sokoloff


I handed her off to my husband and I took a much-needed break, as well as the first deep breath I had taken since leaving Los Angeles International Airport. We were now three-and-a-half hours into our six-hour flight and Elliotte showed no signs of slowing down. It was in this moment that I turned to my family and saw the chaos.


My seat was littered with toys and Cheerios and my poor child looked like a complete mess. Her face was tear-stained and her clothes were covered in squeezable applesauce. (Another failed mission.)


I knew it was time to bring out the big guns. Elmo needed to step in and he better be bringing his A-game.


I placed Elliotte on my lap and out came the iPad. Images of all of my favorite characters appeared on the screen and I instantly felt comforted by my childhood friends. Not only because they are the same characters that were my source of calm as a child, but also I knew they were the lifesavers we so desperately needed.


Well … I guess iPads and big yellow birds aren’t that comforting to teething babies that are 30,000 feet up in the air. The iPad went flying and I sunk into my seat holding my very unhappy girl tight. I was officially out of ideas.


Marla Sokoloff's Blog: Adventures in Baby Traveling
Hawaiian fun in the sun – Courtesy Marla Sokoloff


A kind woman in front of me asked to hold Elliotte. She saw in my eyes that I was breaking down and she was a mom who got it. She understood. She didn’t judge or hate us for disrupting the beginning of her holiday vacation — she was happy to help because she had once been in our shoes with her own child. Elliotte enjoyed the break from her parents and was actually smiling in her arms.


We finally arrived in paradise and upon landing, Alec and I decided that we were moving to Hawaii as we were never going to step foot on a plane ever again.


In all fairness, in between Thanksgiving and Christmas, Elliotte went from having two teeth to eight teeth so I think the plane and cabin pressure exacerbated any existing pain she was already having. Our journey home was slightly better and she even slept for two beautiful hours!


Thank you for letting me share my story — I would absolutely love to hear some of your travel woes! I’m sure it’s even more fun for those of you who have multiple children.


Don’t forget to follow me on Twitter @marlasok or leave your comments below!


Until next time … xo,


– Marla Sokoloff


More from Marla’s PEOPLE.com blog series:


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Will Obama's order lead to surge in gun research?


MILWAUKEE (AP) — Nearly as many Americans die from guns as from car crashes each year. We know plenty about the second problem and far less about the first. A scarcity of research on how to prevent gun violence has left policymakers shooting in the dark as they craft gun control measures without much evidence of what works.


That could change with President Barack Obama's order Wednesday to ease research restrictions pushed through long ago by the gun lobby. The White House declared that a 1996 law banning use of money to "advocate or promote gun control" should not keep the Centers for Disease Control and Prevention and other federal agencies from doing any work on the topic.


Obama can only do so much, though. Several experts say Congress will have to be on board before anything much changes, especially when it comes to spending money.


How severely have the restrictions affected the CDC?


Its website's A-to-Z list of health topics, which includes such obscure ones as Rift Valley fever, does not include guns or firearms. Searching the site for "guns" brings up dozens of reports on nail gun and BB gun injuries.


The restrictions have done damage "without a doubt" and the CDC has been "overly cautious" about interpreting them, said Daniel Webster, director of the Center for Gun Policy and Research at the Johns Hopkins Bloomberg School of Public Health.


"The law is so vague it puts a virtual freeze on gun violence research," said a statement from Michael Halpern of the Union of Concerned Scientists. "It's like censorship: When people don't know what's prohibited, they assume everything is prohibited."


Many have called for a public health approach to gun violence like the highway safety measures, product changes and driving laws that slashed deaths from car crashes decades ago even as the number of vehicles on the road rose.


"The answer wasn't taking away cars," said Dr. Georges Benjamin, executive director of the American Public Health Association.


However, while much is known about vehicles and victims in crashes, similar details are lacking about gun violence.


Some unknowns:


—How many people own firearms in various cities and what types.


—What states have the highest proportion of gun ownership.


—Whether gun ownership correlates with homicide rates in a city.


—How many guns used in homicides were bought legally.


—Where juveniles involved in gun fatalities got their weapons.


—What factors contribute to mass shootings like the Newtown, Conn., one that killed 26 people at a school.


"If an airplane crashed today with 20 children and 6 adults there would be a full-scale investigation of the causes and it would be linked to previous research," said Dr. Stephen Hargarten, director of the Injury Research Center at the Medical College of Wisconsin.


"There's no such system that's comparable to that" for gun violence, he said.


One reason is changes pushed by the National Rifle Association and its allies in 1996, a few years after a major study showed that people who lived in homes with firearms were more likely to be homicide or suicide victims. A rule tacked onto appropriations for the Department of Health and Human Services barred use of funds for "the advocacy or promotion of gun control."


Also, at the gun group's urging, U.S. Rep. Jay Dickey, a Republican from Arkansas, led an effort to remove $2.6 million from the CDC's injury prevention center, which had led most of the research on guns. The money was later restored but earmarked for brain injury research.


"What the NRA did was basically terrorize the research community and terrorize the CDC," said Dr. Mark Rosenberg, who headed the CDC's injury center at the time. "They went after the researchers, they went after institutions, they went after CDC in a very big way, and they went after me," he said. "They didn't want the data to be collected because they were threatened by what the data were showing."


Dickey, who is now retired, said Wednesday that his real concern was the researcher who led that gun ownership study, who Dickey described as being "in his own kingdom or fiefdom" and believing guns are bad.


He and Rosenberg said they have modified their views over time and now both agree that research is needed. They put out a joint statement Wednesday urging research that prevents firearm injuries while also protecting the rights "of legitimate gun owners."


"We ought to research the whole environment, both sides — what the benefits of having guns are and what are the benefits of not having guns," Dickey said. "We should study any part of this problem," including whether armed guards at schools would help, as the National Rifle Association has suggested.


Association officials did not respond to requests for comment. A statement Wednesday said the group "has led efforts to promote safety and responsible gun ownership" and that "attacking firearms" is not the answer. It said nothing about research.


The 1996 law "had a chilling effect. It basically brought the field of firearm-related research to a screeching halt," said Benjamin of the Public Health Association.


Webster said researchers like him had to "partition" themselves so whatever small money they received from the CDC was not used for anything that could be construed as gun policy. One example was a grant he received to evaluate a community-based program to reduce street gun violence in Baltimore, modeled after a successful program in Chicago called CeaseFire. He had to make sure the work included nothing that could be interpreted as gun control research, even though other privately funded research might.


Private funds from foundations have come nowhere near to filling the gap from lack of federal funding, Hargarten said. He and more than 100 other doctors and scientists recently sent Vice President Joe Biden a letter urging more research, saying the lack of it was compounding "the tragedy of gun violence."


Since 1973, the government has awarded 89 grants to study rabies, of which there were 65 cases; 212 grants for cholera, with 400 cases, yet only three grants for firearm injuries that topped 3 million, they wrote. The CDC spends just about $100,000 a year out of its multibillion-dollar budget on firearm-related research, New York Mayor Michael Bloomberg has said.


"It's so out of proportion to the burden, however you measure it," said Dr. Matthew Miller, associate professor of health policy at the Harvard School of Public Health. As a result, "we don't know really simple things," such as whether tighter gun rules in New York will curb gun trafficking "or is some other pipeline going to open up" in another state, he said.


What now?


CDC officials refused to discuss the topic on the record — a possible sign of how gun shy of the issue the agency has been even after the president's order.


Health and Human Services Secretary Kathleen Sebelius said in a statement that her agency is "committed to re-engaging gun violence research."


Others are more cautious. The Union of Concerned Scientists said the White House's view that the law does not ban gun research is helpful, but not enough to clarify the situation for scientists, and that congressional action is needed.


Dickey, the former congressman, agreed.


"Congress is supposed to do that. He's not supposed to do that," Dickey said of Obama's order. "The restrictions were placed there by Congress.


"What I was hoping for ... is 'let's do this together,'" Dickey said.


___


Follow Marilynn Marchione's coverage at http://twitter.com/MMarchioneAP


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Housing, job data push S&P to five-year high; Intel down late

NEW YORK (Reuters) - Stronger-than-expected data on housing starts and jobless claims lit a fire under stocks on Thursday, pushing the S&P 500 to a five-year high and its third day of gains.


A pair of economic reports lifted investors' sentiment. The number of Americans filing new claims for unemployment benefits fell to a five-year low last week and housing starts jumped last month to the highest since June 2008.


Strength in the housing and labor markets is key to sustained growth and higher corporate profits, helping to bring out buyers even on a day when earnings reports were mixed.


Gains were tempered by weakness in the financial sector, with Bank of America down 4.2 percent to $11.28 and Citigroup off 2.9 percent to $41.24 after their results.


In other negative earnings news, shares of chipmaker Intel fell 5.2 percent to $21.49 in extended-hours trading after the company forecast quarterly revenue that fell short of analysts' expectations. Intel had ended the regular session up 2.6 percent at $22.68.


The S&P 500 ended at its highest since December 2007 and now sits just 5.6 percent from its all-time closing high of 1,565.15.


"Having consolidated really for the last two weeks, the fact that we broke out, I think that that is sucking in quite a bit of money," said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.


The Dow Jones industrial average <.dji> was up 84.79 points, or 0.63 percent, at 13,596.02. The Standard & Poor's 500 Index <.spx> was up 8.31 points, or 0.56 percent, at 1,480.94. The Nasdaq Composite Index <.ixic> was up 18.46 points, or 0.59 percent, at 3,136.00.


Better-than-expected earnings and revenue reported by online marketplace eBay late Wednesday helped the stock gain 2.7 percent to $54.33.


In the housing sector, PulteGroup Inc shares gained 4.9 percent to $20.29 and Toll Brothers Inc advanced 3.1 percent to $35.99. The PHLX housing sector index <.hgx> climbed 2.4 percent, reaching its highest close since August 2007.


Semiconductor shares <.sox> rose 2 percent to the highest close in eight months.


Financials were the only S&P 500 sector to register a slight decline for the day.


Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits.


Energy shares led gains on the Dow as U.S. crude oil prices jumped more than 1 percent. Shares of Exxon Mobil were up 0.8 percent at $90.20 while shares of Chevron were up 0.7 percent at $114.75.


S&P 500 earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have fallen considerably since October when a 9.9 percent gain was estimated.


Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by about 22 to 7 and on the Nasdaq by about 2 to 1.


(Additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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The Lede Blog: Analysis of Armstrong’s Interview With Winfrey

The Lede rounded up online reaction to Lance Armstrong’s interview with Oprah Winfrey on Thursday night in real-time, with additional fact-checking and context provided by Juliet Macur, Sarah Lyall, Brian Stelter, David Carr and Robert Mackey. The second part of the interview is scheduled to be broadcast at 9 p.m. Eastern Time on Friday and will be streamed live on the Oprah Winfrey Network’s Web site.
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Ex-Red Sox pitcher Schilling puts bloody sock up for auction after video game company collapse






PROVIDENCE, R.I. – Former Boston Red Sox pitcher Curt Schilling — whose video game company underwent a spectacular collapse into bankruptcy last year — is selling the blood-stained sock he wore during the 2004 World Series.


Chris Ivy, director of sports for Texas-based Heritage Auctions, says online bidding begins around Feb. 4. Live bidding will take place Feb. 23.






The sock previously had been on loan to the National Baseball Hall of Fame and Museum. It has been at Heritage’s Dallas headquarters for several weeks and will be displayed at the auction house’s Manhattan office before it is sold, according to Ivy.


He said the sock is expected to fetch at least $ 100,000, though he described that as a conservative estimate.


“I do expect the bidding to be very spirited,” Ivy said.


Schilling’s company, 38 Studios, was lured to Providence, R.I., from Massachusetts with a $ 75 million loan guarantee in 2010. In May, it laid off all its employees and it filed for bankruptcy in June. The state is now likely responsible for some $ 100 million related to the deal, including interest.


Schilling also had personally guaranteed loans to the company and listed the sock as bank collateral in a September filing with the Massachusetts secretary of state’s office.


Messages left for his publicist were not immediately returned.


The bloody sock is one of two that sent Schilling into the annals of baseball lore in 2004.


The other was from Game 6 of the American League Championship Series, when Schilling pitched against the New York Yankees with an injured ankle. That sock is said to have been discarded in the trash at Yankees Stadium.


The one being sold is from the second game of the World Series, which the Red Sox won that year for the first time in 86 years.


Schilling has said he invested as much as $ 50 million in 38 Studios and has lost all his baseball earnings. He told WEEI-AM in Boston last year that possibly having to sell the sock was part of “having to pay for your mistakes.”


“I’m obligated to try and make amends and, unfortunately, this is one of the byproducts of that,” he told the station.


Brad Horn, a spokesman for the hall of fame in Cooperstown, N.Y., said the loaned sock was returned in December under the terms of the hall’s agreement with Schilling. The hall had had it since 2004.


The Feb. 23 live bidding will be held at the Fletcher-Sinclair mansion in New York City, now home to the Ukrainian Institute of America. The auction will feature other “five- and six-figure items,” including a jersey and cap worn by New York Yankees great Lou Gehrig, Ivy said.


Heritage last May auctioned off the so-called “Bill Buckner ball,” which rolled through the legs of the Red Sox first baseman in the 1986 World Series. Ivy said that item, like Schilling’s sock, was listed at the time as being expected to bring in “$ 100,000-plus,” but it was sold to an anonymous bidder for $ 418,000.


Gaming News Headlines – Yahoo! News




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Inspiring Singers Outshine American Idol's Feuding Judges






American Idol










01/17/2013 at 11:00 PM EST







From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban


George Holz/FOX


The second episode of American Idol delivered more drama, but a handful of singers managed to eclipse the ongoing feud between new judges Mariah Carey and Nicki Minaj. And that's no easy task considering one of the battling divas is wearing a blonde and pink wig.

The night's most memorable contestant was Lazaro Arbos. As he entered the audition room, one thing became immediately clear: the 21-year-old from Naples, Fla., had a severe stutter. Arbos, who emigrated from Cuba when he was 10, told viewers that he had few friends growing up due to his speech impediment.

But something magical happened when he began to sing. His stutter vanished and he gave a moving performance of "Bridge Over Troubled Water." As the judges unanimously put him through to Hollywood, Arbos dissolved into tears.

Equally inspiring was Mariah Pulice, a 19-year-old restaurant hostess from Darien, Ind. The last two years have been difficult for Pulice, who told judges she was recovering from anorexia. "If there was no music," she said, "I would not be alive." After singing the Beatles' "Let it Be," the judges were unanimous in their praise. "I really, really, really felt that song coming from you," said Minaj.

Carey agreed: "You touched me," she said. "I know what it's like to have to sing through tears. I'm proud of you."

But it wasn't all drama and emotion. Minaj started a baffling trend of asking handsome singers if they had a girlfriend. (She also managed to charm the shirts off of a couple of them, although you get the feeling they were happy to show their abs on national TV.) "You have a hole in your pants," she told one contestant. "Why are you looking?" he shot back.

And poor Keith Urban. Sitting between Minaj and Carey, he found himself in the crossfire. "I feel like a scratching post," he said at one point, before repeatedly banging his head on the table.

The judges found a lot of talent in Chicago. All told, 46 contestants were put through to Hollywood. The competition will head to Charlotte, N.C., next Wednesday.

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Large study confirms flu vaccine safe in pregnancy


NEW YORK (AP) — A large study offers reassuring news for pregnant women: It's safe to get a flu shot.


The research found no evidence that the vaccine increases the risk of losing a fetus, and may prevent some deaths. Getting the flu while pregnant makes fetal death more likely, the Norwegian research showed.


The flu vaccine has long been considered safe for pregnant women and their fetus. U.S. health officials began recommending flu shots for them more than five decades ago, following a higher death rate in pregnant women during a flu pandemic in the late 1950s.


But the study is perhaps the largest look at the safety and value of flu vaccination during pregnancy, experts say.


"This is the kind of information we need to provide our patients when discussing that flu vaccine is important for everyone, particularly for pregnant women," said Dr. Geeta Swamy, a researcher who studies vaccines and pregnant women at Duke University Medical Center.


The study was released by the New England Journal of Medicine on Wednesday as the United States and Europe suffer through an early and intense flu season. A U.S. obstetricians group this week reminded members that it's not too late for their pregnant patients to get vaccinated.


The new study was led by the Norwegian Institute of Public Health. It tracked pregnancies in Norway in 2009 and 2010 during an international epidemic of a new swine flu strain.


Before 2009, pregnant women in Norway were not routinely advised to get flu shots. But during the pandemic, vaccinations against the new strain were recommended for those in their second or third trimester.


The study focused on more than 113,000 pregnancies. Of those, 492 ended in the death of the fetus. The researchers calculated that the risk of fetal death was nearly twice as high for women who weren't vaccinated as it was in vaccinated mothers.


U.S. flu vaccination rates for pregnant women grew in the wake of the 2009 swine flu pandemic, from less than 15 percent to about 50 percent. But health officials say those rates need to be higher to protect newborns as well. Infants can't be vaccinated until 6 months, but studies have shown they pick up some protection if their mothers got the annual shot, experts say.


Because some drugs and vaccines can be harmful to a fetus, there is a long-standing concern about giving any medicine to a pregnant woman, experts acknowledged. But this study should ease any worries about the flu shot, said Dr. Denise Jamieson of the Centers for Disease Control and Prevention.


"The vaccine is safe," she said.


___


Online:


Medical journal: http://www.nejm.org


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Asian shares consolidate, caution ahead of Chinese data

TOKYO (Reuters) - Asian shares eked out modest gains Thursday, consolidating amid better-than-expected U.S. earnings but demand was capped by caution ahead of Chinese data on Friday.


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> added 0.1 percent, after falling in the past two sessions, pulled higher by a surge in Australian shares <.axjo>, which rose 1 percent to a 20-month high.


Australian employment surprisingly contracted by 5,500 in December, bolstering the odds for another interest rate cut. The prospect of further policy easing boosted local shares but sent the Australian dollar down to session lows of $1.0534 from $1.0560 before the data.


Analysts said the data came against a fairly positive global backdrop.


"There's a growing sentiment among investors that international risks have been significantly reduced, particularly after the U.S. made a start on its fiscal negotiations," said Ric Spooner, market strategist at CMC Markets in Sydney.


World stock markets ended flat on Wednesday with the banking sector rising as earnings from Goldman Sachs nearly tripled and JPMorgan Chase's fourth-quarter net income jumped 53 percent and earnings for 2012 set a record.


Investors will now turn to economic reports from China on Friday, including fourth-quarter GDP, December industrial output, retail sales and house price, which will offer clues on the health of Asia's biggest economy.


Data showing demand for new cars in recession-bound Europe fell to a 17-year low in 2012 reminded investors of the challenges facing the global economy, after the World Bank sharply cut its outlook for world growth this year to 2.4 percent from 3 percent, citing a slow recovery in developed nations.


YEN RESUMES WEAKNESS


The dollar and the euro regained ground against the yen, snapping two days of selling when investors took profits from these currencies' sharp and rapid rises against the Japanese currency since November.


Traders expect the yen to remain on a weakening trend amid expectations for bolder monetary easing measures from the Bank of Japan as part of the new government's push to drive Japan out of years of deflation and economic slump.


Japan's benchmark Nikkei average <.n225> inched up 0.2 percent, after tumbling 2.6 percent for its largest daily decline in eight months on Wednesday. The Nikkei hit a 32-month high on Tuesday as the yen's slump to multi-year lows against the dollar and the euro bolstered exporters on improving earnings outlook. <.t/>


The dollar was up 0.1 percent to 88.50 yen, off its peak since June 2010 of 89.67 touched on Monday, while the euro climbed 0.3 percent to 117.75 yen, after surging to its highest since May 2011 of 120.13 yen on Monday.


Anxiety about a possible protracted fight in Washington over raising the federal borrowing limit pushed the five-year cost to insure against a U.S. default up to 44 basis points on Wednesday, the highest since August 2011 during the first debt ceiling battle between U.S. President Barack Obama and Republican lawmakers.


The euro was up 0.1 percent to $1.3306 against the dollar, after reaching an 11-month high of $1.3404 on Monday.


COMMODITIES SEEN RISING


Reduced concerns over the euro zone debt problems, relatively more solid global economic fundamentals than last year and China's moderate recovery suggest there are buying opportunities for shares in cyclically dependant sectors and economies including Japan, Philip Poole, Head of Strategy at HSBC Global Asset Management, told a seminar in Tokyo this week.


"Recovery will feed through into 2013, but China won't go back to pre-crisis (of 2008) levels of growth of 10 percent," Poole said, adding that growth was likely to be 7-8 percent in 2013, a level investors now need to get used to.


"Cyclically sensitive sectors look relatively cheap in emerging countries and developed countries," while defensives were less attractive given their relative outperformance in 2012 under the more stressed financial environment, Poole said.


Another sector likely seen getting a boost from the reduced risk environment is commodities.


"Investment focus for 2013 is shifting to economically sensitive areas as global recovery takes place, boosting commodities prices," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.


The rally in platinum prices to 3-month highs this week, regaining its premium over gold for the first time since March 2012, is an indication of investors turning more proactive about taking risks, he said.


U.S. crude was down 0.2 percent at $94.05 a barrel while Brent was steady around $109.64.


(Additional reporting by Thuy Ong in Sydney; Editing by Shri Navaratnam)



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World Briefing | Middle East: Jordan: Fire Kills Family at Camp for Syrian Refugees



A fire caused by a kerosene heater that flipped over in a center for refugees who had fled the Syrian civil war killed seven members of a family, a civil defense spokesman said Wednesday. The center is a temporary shelter for refugees before they are moved to a camp called Zaatari, which has been battered by a flash flood.


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