Apple’s iPhone disappointment fans doubt on growth

SAN FRANCISCO (Reuters) – Apple Inc missed Wall Street’s revenue forecast for the third straight quarter after iPhone sales came in below expectations, fanning fears that its dominance of the mobile industry was slipping.

Shares of the world’s largest tech company fell 10 percent to $ 463 in after-hours trade, wiping out some $ 50 billion of its market value – nearly equivalent to that of Hewlett-Packard and Dell, combined.

On Wednesday, Apple said it shipped a record 47.8 million iPhones in the December quarter, up 29 percent from the year-ago period. But that lagged the 50 million that analysts on average had projected.

Expectations heading into the results had been subdued by news of possible production cutbacks by some component suppliers in Asia, triggering fears that demand for the iPhone, which accounts for half of Apple‘s revenue, and the iPad could be slowing.

But many investors clung to hopes for a repeat of years of historical outperformance, analysts said.

“It’s going to call into question Apple‘s dominance in the space. It’s still one of the strong players, the others being Samsung and Google. It’s still a two-horse race, but Android continues to grow rapidly,” said Sterne Agee analyst Shaw Wu.

“If you step back a bit, it’s clear they shipped a lot of phones. But the problem is the high expectations that investors have. Apple‘s conservative guidance highlights the concerns over production cuts coming out of Asia recently.”

Apple projected revenue of $ 41 billion to $ 43 billion in the current, second fiscal quarter, lagging the average Wall Street forecast of more than $ 45 billion.

Fiscal first quarter revenue rose 18 percent to $ 54.5 billion, below the average analyst estimate of $ 54.73 billion, though earnings per share of $ 13.81 beat the Street forecast of $ 13.47, according to Thomson Reuters I/B/E/S.

Apple also undershot revenue targets in the previous two quarters, and these results will prompt more questions on what Apple has in its product pipeline, and what it can do to attract new sales and maintain its growth trajectory, analysts said.

Net income of $ 13.07 billion was virtually flat with $ 13.06 billion a year earlier on higher manufacturing costs. The year-ago quarter also had an extra week compared to this year.

Gross margins consequently slid to 38.6 percent, from 44.7 percent previously.

“You can’t just keep rolling out iPhones and iPads and think that everybody needs a new one,” said Jeffrey Gundlach, who runs DoubleLine Capital LP, the $ 53 billion bond firm. “The mini? What is that all about? It is a slightly smaller iPad — so what? So that is our new definition of innovation?”

“There are plenty of competitors like Samsung and other legitimate competitors like them,” added Gundlach, one of the highest-profile Apple bears. He maintains a $ 425 price target.

Shares of several of Apple‘s suppliers crumbled. Chip suppliers Skyworks and Cirrus Logic both fell more than 6 percent. Qualcomm Inc slipped 1.8 percent.

CHINA IS NEXT BIG GROWTH DRIVER

Apple shares are down nearly 30 percent from a record high in September, in part on worries that its days of hyper growth are over and its mobile devices are no longer as popular.

Intense competition from Samsung‘s cheaper phones – powered by Google’s Android software – and signs that the premium smartphone market may be close to saturation in developed markets have also caused a lot of investor anxiety.

Meanwhile, sales of the iPad came in at 22.9 million in the fiscal first quarter, roughly in line with forecasts.

On the brighter side, Chief Financial Officer Peter Oppenheimer told Reuters that iPhone sales more than doubled in greater China – a region that Apple Chief Executive Tim Cook has vowed to focus on as its next big growth driver.

The company will begin detailing results from that country going forward. Revenue from the region totaled $ 7.3 billion, up 60 percent from the year-ago December quarter.

“These results were OK, but they definitely raised a few questions,” said Shannon Cross, analyst with Cross Research. “Gross margin trajectory looks fine so that’s a positive and cash continues to grow. But I think investors are going to want to know what Apple plans to do with growing cash balance.”

“And other questions are going to be around innovation and where the next products are coming from and what does Tim Cook see in the next 12 to 18 months.”

ADDRESSING PRODUCTION RUMORS

In an unusual move for Apple, which typically does not respond to speculation, Cook addressed the production cutback rumors at length on the conference call and questioned the accuracy of rumors about its plans.

Media reports earlier this month said the company is slashing orders for iPhone 5 and iPad screens and other components from its Asian suppliers.

“Even if a particular data point were factual, it would be impossible to accurately interpret the data point as to what it meant for our overall business, because the supply chain is very complex,” he said, adding that Apple has multiple sources for components.

“Yields might vary. Supplier performance can vary. The beginning inventory positions can vary. There’s just an inordinately long list of things that would make any single data point not a great proxy for what’s going on,” he said.

Apple‘s initial iPhone and iPad mini sales were hurt by supply constraints, but Cook expects supply to balance demand for the iPad mini this quarter. He also acknowledged that iPad was cannibalizing its high-margin Macintosh computers, but said it was a huge opportunity for the company.

“On iPad in particular, we have the mother of all opportunities here, because the Windows market is much, much larger than the Mac market is,” he said. And I think it is clear that it’s already cannibalizing some.”

In another departure from tradition, Apple intends to tweak the way it both reports results and publishes forecasts.

Apart from breaking out results from China, the company also will no longer provide a single revenue or gross margin outlook. From Wednesday, it began providing the range it expects to hit, rather than the often-ludicrously conservative estimates that Apple was once notorious for.

The new policy took many by surprise.

“Before people could always ignore the guidance,” said Dan Niles, Chief Investment Officer of AlphaOne Capital Partners, LLC. “Apple is telling investors that they need to pay attention to the guidance and you can’t ignore it, which is basically what we all did in the past.”

(Additional reporting by Alistair Barr and Alexei Oreskovic in San Francisco and Jennifer Ablan in New York; Editing by Bernard Orr and Edwin Chan)

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Nicki Minaj Storms Off American Idol Set in Charlotte, N.C.

TV Watch

American Idol

By Jamie Bufalino

01/23/2013 at 10:50 PM EST

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

Michael Becker/FOX.

As American Idol's talent search headed to Charlotte, N.C., on Wednesday, the already-tense relationship between judges Mariah Carey and Nicki Minaj went even further south.

Things got so heated that the production had to shut down for a bit, leaving a speedway full of aspiring singers sitting idle. The cause of the friction? Disagreements over the judges' varying styles of critique – particularly when it came to 20-year-old Summer Cunningham.

"Why are we picking her apart?" Minaj asked after Carey questioned whether the contestant's voice was best-suited for country music.

"Really? Is that what I did?" responded Carey. "We're trying to help her as opposed to just talk about her outfit."

That retort caused Minaj to throw a fit. "Oh, you're right. I'm sorry I can't help her. Maybe I should just get off the [BLEEP] panel," she said before walking off the set.

As Minaj left, Carey got in one more shot: Referring to Minaj storming off, she said, "I was going to do that the next time she ragged on me."

But the judging panel – including Keith Urban and Randy Jackson – also had plenty moments of togetherness in Charlotte. They gave unanimous thumbs up to Brian Rittenberry, 27 – a dad from Jasper, Ga., whose wife bounced back from battling cancer – for belting out "Let It Be" with a big booming voice.

They also swooned over 16-year-old Isabel Gonzalez, who Jackson plucked out of a high school class to audition for Idol as part of this season's new nomination segments. And they were all in agreement that 20-year-old Joel Nemoyer from Carlisle, Pa., should try a different line of work after he tried crooning a Michael Bublé song while lying flat on his back.

Even without the histrionics, Minaj proved to be the most entertaining of the judges. Between her ongoing habit of assigning nicknames to all the contestants – she dubbed singers everything from "collard greens" to "Jumanji" – Minaj also managed to ask hilariously bizarre questions ("Have you ever lived in Tokyo?") and put new and sometimes creepy twists on her positive critiques. "I want to skin you and wear you," she told one girl she was particularly fond of.

Even with the short interruption due to the judges' kerfuffle, the Idol gang managed to find 36 contestants to put through to Hollywood.

And they'll be back for more auditions in Baton Rouge, La., on Thursday.

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Asian shares inch higher on improving global confidence

TOKYO (Reuters) - Asian shares edged higher on Wednesday as investor appetite for riskier assets improved amid upbeat U.S. earnings and better German investor confidence.

The yen stabilized after firming as realization sank in that monetary easing announced on Tuesday by the Bank of Japan had fallen short of some market expectations, though many analysts acknowledged that the BOJ was showing determination to pull Japan out of years of deflation and economic stagnation.

Copper and gold were underpinned as the BOJ's move was seen supporting a global economic recovery while its 2 percent inflation target boosted bullion's appeal as a hedge against rising prices.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.1 percent, hovering near Tuesday's 17-1/2-month high, after recent positive data from the United States and China improved investor sentiment.

Australian shares <.axjo> rose 0.3 percent, touching a 20-month high for a second day in a row as top miner BHP Billiton gained after lifting iron ore production.

Japan's benchmark Nikkei average <.n225> fell 0.8 percent as the firmer yen weighed on exporters. The yen has weakened by around 12 percent since mid-November against the dollar, and boosted Nikkei by more than 20 percent as a weaker yen improved exporters' earnings outlook. <.t/>

"Some investors have been waiting for the timing to take profits, as they have chased the market higher," said Hiroichi Nishi, assistant general manager at SMBC Nikko Securities.

The BOJ on Tuesday doubled its inflation target to 2 percent and adopted an open-ended commitment to buy assets starting 2014, sparking an unwinding of yen short positions from speculators looking for more immediate easing step.

The dollar steadied around 88.70 yen while the euro eased 0.1 percent to 118.11 yen. The dollar hit a 2-1/2-year high of 90.25 yen on Monday.

Technically, many believe the yen will resume its recent downtrend, seeing the latest rebound in the Japanese currency as a correction to its rapid and sharp decline.

Tuesday's pullback on dollar/yen has once again held slightly above the 23.6 percent of the rally from 81.69 to 90.25 yen seen on Monday, which comes in at 88.25 yen, some analysts note. They say the dollar's inability to break below minimum retracement levels since the rally from a December 4 low around 81.70 highlights the strength of the dollar/yen's upward move.

With BOJ joining the continued push by global central banks to support growth, Morgan Stanley said in a research note that policy easing by central banks was positive for emerging markets with more bond portfolio inflows increasingly towards local markets.

"Our key themes for 2013 are rebalancing and reflation, with both prevalent so far this year. Even given a migration towards global equities and away from fixed income, emerging market fixed income remains well-placed," it said.

On Tuesday, hopes of an improvement in the global economy led the Standard & Poor's 500 Index <.spx> to a five-year high.

International Business Machines , the world's largest technology services company reported fourth-quarter earnings and revenue that beat estimates, while revenue from Google Inc's core Internet business outpaced many analysts' expectations for the same quarter. Apple Inc's earnings release was due later on Wednesday.

Investors were also cheered by easing worries over the U.S. budget crisis and the euro zone's debt financing.

Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit to May 19.

German ZEW investor sentiment rose to its highest level in more than 2-1/2 years in January while Spain has raised around 14 percent of its 2013 funding target.

U.S. crude was down 0.1 percent to $96.62 a barrel and Brent also eased 0.1 percent to $112.34.

Spot gold was at $1,692.66 an ounce, near Tuesday's one-month high of $1,695.76, while London copper traded down 0.3 percent at $8,107 a metric ton but clinging near a one-week high of $$8,144.50 hit on Tuesday.

(Additional reporting by Reuters FX analyst Krishna Kumar in Sydney, Miranda Maxwell in Melbourne and Ayai Tomisawa in Tokyo; Editing by Shri Navaratnam)

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India Ink: Climate Change and Population Growth Meet Along the Brahmaputra River

A multichannel mammoth stretching up to 10 kilometers (six miles) wide, the Brahmaputra River in Assam causes havoc every year when it floods. Now climate change is intensifying the hydrological cycle.

Brian Orland, a Fulbright-Nehru Fellow, is starting a nine-month study on climate change adaptation along the Brahmaputra River, where the environment challenges the region faces are likely to be repeated in other parts of developing Asia.

His relationship with the Brahmaputra began at a Mumbai research institution in 2008 within the context of a larger study on Himalayan water security. Now on his ninth extended visit, he calls India his second home. For the last 10 weeks, he has been learning Bangla in Kolkata and is now transitioning into speaking and reading Assamese.

Back in Raj times, in the Assam highlands, British planters once sipped gin and tonics on verandahs overlooking endless rows of glistening green tea bushes. Today, climate refugees set their sights upon these same lands as they scramble up from the swirling waters and crumbling banks of the Brahmaputra River.

Scientists predict that climate change will worsen the flooding, and yet more and more people are surging into the Brahmaputra basin. Land is becoming scarce as waves of migrants pour in from nearby Bangladesh. Whole communities are pushed to live on the edge of embankments and amorphous islands.

Assam may be emblematic of the kind of catastrophe soon to hit much of developing Asia. Accelerating environmental change—sea-level rise in Bangladesh, say, or desertification in China—could exacerbate rising population pressures in a vicious feedback loop.

Land issues have always been at the heart of Assam’s long-simmering ethnic conflicts. But now, with the land near the limit of its carrying capacity, the crisis could become explosive.

This is the setting for my nine-month study on human responses to environmental change. I will stay in rural, often remote, villages to document how families are interacting with a vulnerable and volatile landscape. What I find will likely be a leading indicator for the future of developing Asia as the impacts of climate change take hold.

When I last visited Assam this past September, a particularly bad flooding season was ending with devastating crescendo. The flood waters burst embankments and reached areas that rarely experience flood. Peripatetic tributaries lashed out of control across the landscape.

Floodwaters affected over a million and a half people and destroyed thousands of houses. The important summer paddy crop was completely crushed, leaving subsistence farmers with nothing to show for their efforts.

Climate change models indicate that floods of this magnitude will become increasingly common in the future.

Over the last six decades, India has become warmer. The effect of that temperature change on the Indian monsoon is still poorly understood, but it seems to be pushing the weather system to the extremes.

What is clear is that monsoonal patterns are changing. Some places like the Western Ghats in south India are receiving less rainfall, while other places such as the Brahmaputra Basin here in northeast India are experiencing more destructive bursts of rain.

Assam is one of the places most sensitive to these changes. The hydrological cycle shapes the soft alluvial soil of the Assam plains and nurtures the agrarian economy. The Brahmaputra moves enormous amounts of sediment, while making and breaking river banks and thousands of islands.

Now, with the once-predictable monsoon becoming a wild card, one of the unruliest rivers in the world is growing increasingly tempestuous. As a result, more people will become vulnerable to floods, and those who normally experience floods will face harsher conditions.

After a disastrous flood season, it is a particularly relevant time to investigate how people are responding to this uncertain environmental future.

While villages I observe will have faced devastating impacts from floods, many have already developed ways to adapt. They build their houses on stilts, shift their agricultural calendar and methods, or put in place faster flood alert systems. So, along with scenes of loss and struggle, you will see on-the-ground innovators who have found smarter ways to live with floods.

After all, this is not some conundrum for policy wonks to strategize. Nor has the government done much to slow the damage. The thousands of villages dotting Assam’s flood plain each experience these challenges in their own unique context.

It makes sense, then, that effective solutions will be devised and implemented at the local level. Can some of these local innovations show the way forward for other communities to find a better way to live with floods?

Brian Orland’s dispatches will appear in India Ink every two weeks. What’s next: A conversation with a hydrologist and a historian in Assam’s capital, Guwahati.

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FTC study taking aim at online marketing of booze

LOS ANGELES (Reuters) – The Federal Trade Commission (FTC) plans this summer to recommend ways that the alcoholic beverage industry can better protect underage viewers from seeing its advertisements online.

Distillers, brewers and wineries pour millions of dollars into brand promotion on Twitter, Facebook and other social media, and industry critics contend they are not doing enough to prevent young consumers from receiving these messages.

“We’re doing a deep dive on how they’re using the Internet and social media,” said Janet Evans, a lawyer with the FTC, which is conducting a year-long study due to be released by early summer. “We’re focusing on underage exposure.”

She would not elaborate on any potential recommendations that might come out of the study, which began in April 2012.

The FTC is reviewing data from 14 big producers, Evans said, including Beam Inc, the maker of Jim Beam, Diageo Plc, home to Johnnie Walker, and Constellation Brands Inc, which makes Robert Mondavi and Ravenswood wines.

The FTC report “is something we take seriously and place at high priority,” said Karena Breslin, director for digital marketing at Constellation.

The FTC has made two requests for information since the study began, she said.

The regulatory agency has not said it intends to impose restrictions on liquor company social media advertising but it can make recommendations to the industry.

The FTC is empowered to file suit to ensure consumers are protected from deceptive marketing practices, Evans said, but she stressed that studies of this nature are meant to promote better self-regulation, not provide a basis for a case.

Industry executives say alcohol makers and distributors voluntarily adhere to the same industry-set standard for marketing to underage viewers on social media sites that the industry set for its ads on TV and other media. That requires that at least 71.6 percent of an audience consists of adults 21 and older.

“No one in their right mind would want to advertise to people who can’t legally buy their product,” said Frank Coleman, senior vice president for Distilled Spirits Council of the United States (DISCUS), the trade group that sets the industry’s advertising codes.

Coleman also cited recent data showing the audiences for Facebook and Twitter are skewed heavily towards viewers who are above the legal drinking age.

“According to Nielsen’s latest data, the demographic audience for Facebook is 83.5 percent 21 years and older, and for Twitter it is 85 percent,” Coleman said.

In June 2011, DISCUS revised its code upwards to 71.6 percent from 70 percent, after the FTC recommended it review the standard to better reflect U.S. Census population data.

Industry critics, including David Jernigen, director of the Center on Alcohol Marketing and Youth at Johns Hopkins University, and Sarah Mart, research director of the advocacy group Alcohol Justice, contend the industry didn’t go far enough and should raise the standard further.

Jernigen said it needs to be at least 85 percent to effectively protect youth, so there would be no more than 15 percent exposure to the underage drinking population.

“The industry says its self-regulating but it’s ineffective and social media opens up a whole new set of problems because their ads are everywhere,” said Mart.

Coleman said the group now requires members to install age-checking tools via instant messaging as a gateway to Twitter feeds and other branded Web platforms that ask the user for a birth date before admitting them.

In the first nine months of 2012, beer, wine and spirits manufacturers spent an estimated $ 35 million for paid Web display advertising, but industry executives estimate many millions more were spent on website creation, video production for platforms like Google’s YouTube and social media marketing efforts.

“We’ve significantly adjusted more money to digital for online video, websites, Facebook and Twitter content,” said Kevin George, global chief marketing officer for Jim Beam, which spends 30 percent of its media spend for online outlets, up from 10 percent in 2008, he said.

Many companies are expanding their digital staff. Wine maker Constellation hired Breslin three years ago to initiate digital marketing and now has a team of five reporting to her.

Many alcoholic beverage companies flocked to Facebook because it requires users to post their birth dates when signing up.

Last year Twitter partnered with Buddy Media to offer a screening tool that sends a direct message to fans who click on an alcoholic brand. The message sends the fan a link to a site that asks for date of birth.

Salesforce.com bought Buddy Media last June, which is now folding the platform into its marketing cloud portfolio.

Health advocates and industry critics are crying foul. “Facebook and other interactive platforms are poorly monitored and not well age-protected,” said Jernigen of Johns Hopkins University. “Anyone can say they’re 21 and click yes.”

(Reporting by Susan Zeidler; Editing by Ron Grover, Alden Bentley and Phil Berlowitz)

Internet News Headlines – Yahoo! News

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PEOPLE's Music Critic: Why We're Upset About Beyoncé's Lip-Synching Drama

By Chuck Arnold

01/22/2013 at 08:40 PM EST

Did she lip-synch or didn't she?

That's the question surrounding Beyoncé after reports surfaced that she didn't sing "The Star-Spangled Banner" live at yesterday's presidential inauguration.

A spokesperson for the U.S. Marine Band, which backed the pop diva at the ceremony, said Tuesday that Mrs. Jay-Z decided to use a previously recorded vocal track before delivering the national anthem, but later on another spokesperson, this one for the Pentagon, said there was no way of knowing whether the 16-time Grammy winner was guilty of lip-synching or not.

Should it matter? Let's remember that Whitney Houston, in what is widely considered one of the best renditions of "The Star-Spangled Banner" of all time, didn't sing it live either at the 1991 Super Bowl.

There are all sorts of technical reasons why it can be challenging to perform a song as difficult as this on such a large scale, and there are many extenuating circumstances that could have played a role in any decision to lip-synch. Certainly no one is questioning whether Beyoncé – who, in removing her earpiece midway through, may have been experiencing audio problems – has the chops to sing it.

Lip-synching – or at least singing over pre-recorded vocal tracks – has long been acceptable for dance-driven artists like Madonna, Janet Jackson and Britney Spears, whose emphasis on intense, intricate choreography makes it hard to execute the moves fans have come to expect while also singing live. Huffing and puffing into the microphone or barely projecting for the sake of keeping it real just isn't gonna cut it. Of course, there have been other instances – such as Ashlee Simpson's 2004 Saturday Night Live debacle – where faking it crossed the line.

Surely there wouldn't be the same controversy about Beyoncé had she been hoofing across the stage performing "Single Ladies (Put a Ring on It)" on one of her tour stops. But this was the presidential inauguration, the national anthem, and there was no choreography involved.

Some things have to remain sacred, and for "the land of the free and the home of the brave," this was one of them.

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Flu season fuels debate over paid sick time laws

NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.

A school speech therapist who works as an independent contractor, she doesn't have paid sick days. So the mother of two reported to work and hoped for the best — and was aching, shivering and coughing by the end of the day. She stayed home the next day, then loaded up on medicine and returned to work.

"It's a balancing act" between physical health and financial well-being, she said.

An unusually early and vigorous flu season is drawing attention to a cause that has scored victories but also hit roadblocks in recent years: mandatory paid sick leave for a third of civilian workers — more than 40 million people — who don't have it.

Supporters and opponents are particularly watching New York City, where lawmakers are weighing a sick leave proposal amid a competitive mayoral race.

Pointing to a flu outbreak that the governor has called a public health emergency, dozens of doctors, nurses, lawmakers and activists — some in surgical masks — rallied Friday on the City Hall steps to call for passage of the measure, which has awaited a City Council vote for nearly three years. Two likely mayoral contenders have also pressed the point.

The flu spike is making people more aware of the argument for sick pay, said Ellen Bravo, executive director of Family Values at Work, which promotes paid sick time initiatives around the country. "There's people who say, 'OK, I get it — you don't want your server coughing on your food,'" she said.

Advocates have cast paid sick time as both a workforce issue akin to parental leave and "living wage" laws, and a public health priority.

But to some business owners, paid sick leave is an impractical and unfair burden for small operations. Critics also say the timing is bad, given the choppy economy and the hardships inflicted by Superstorm Sandy.

Michael Sinensky, an owner of seven bars and restaurants around the city, was against the sick time proposal before Sandy. And after the storm shut down four of his restaurants for days or weeks, costing hundreds of thousands of dollars that his insurers have yet to pay, "we're in survival mode."

"We're at the point, right now, where we cannot afford additional social initiatives," said Sinensky, whose roughly 500 employees switch shifts if they can't work, an arrangement that some restaurateurs say benefits workers because paid sick time wouldn't include tips.

Employees without sick days are more likely to go to work with a contagious illness, send an ill child to school or day care and use hospital emergency rooms for care, according to a 2010 survey by the University of Chicago's National Opinion Research Center. A 2011 study in the American Journal of Public Health estimated that a lack of sick time helped spread 5 million cases of flu-like illness during the 2009 swine flu outbreak.

To be sure, many employees entitled to sick time go to work ill anyway, out of dedication or at least a desire to project it. But the work-through-it ethic is shifting somewhat amid growing awareness about spreading sickness.

"Right now, where companies' incentives lie is butting right up against this concern over people coming into the workplace, infecting others and bringing productivity of a whole company down," said John A. Challenger, CEO of employer consulting firm Challenger, Gray & Christmas.

Paid sick day requirements are often popular in polls, but only four places have them: San Francisco, Seattle, Washington, D.C., and the state of Connecticut. The specific provisions vary.

Milwaukee voters approved a sick time requirement in 2008, but the state Legislature passed a law blocking it. Philadelphia's mayor vetoed a sick leave measure in 2011; lawmakers have since instituted a sick time requirement for businesses with city contracts. Voters rejected a paid sick day measure in Denver in 2011.

In New York, City Councilwoman Gale Brewer's proposal would require up to five paid sick days a year at businesses with at least five employees. It wouldn't include independent contractors, such as Zavala, who supports the idea nonetheless.

The idea boasts such supporters as feminist Gloria Steinem and "Sex and the City" actress Cynthia Nixon, as well as a majority of City Council members and a coalition of unions, women's groups and public health advocates. But it also faces influential opponents, including business groups, Mayor Michael Bloomberg and City Council Speaker Christine Quinn, who has virtually complete control over what matters come to a vote.

Quinn, who is expected to run for mayor, said she considers paid sick leave a worthy goal but doesn't think it would be wise to implement it in a sluggish economy. Two of her likely opponents, Public Advocate Bill de Blasio and Comptroller John Liu, have reiterated calls for paid sick leave in light of the flu season.

While the debate plays out, Emilio Palaguachi is recovering from the flu and looking for a job. The father of four was abruptly fired without explanation earlier this month from his job at a deli after taking a day off to go to a doctor, he said. His former employer couldn't be reached by telephone.

"I needed work," Palaguachi said after Friday's City Hall rally, but "I needed to see the doctor because I'm sick."

___

Associated Press writer Susan Haigh in Hartford, Conn., contributed to this report.

___

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

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Yen, Asian shares mark time before BOJ decision

TOKYO (Reuters) - The yen and Japanese equities were volatile on Tuesday after the Bank of Japan took bold easing measures, while other Asian stock markets posted modest gains.

The BOJ on Tuesday doubled its inflation target to 2 percent and adopted an open-ended commitment to buy assets, surprising markets that had expected another incremental increase in its 101 trillion yen asset-buying and lending program.

"It was more or less within market expectations and was not disappointing. But it also didn't top expectations because there was speculation that the BOJ would do all it can, including removing the 0.1 percent floor on short term interest rates," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo.

"Initial market reaction shows there are still players who want to short the yen, and the BOJ's decision today clears the way for further dollar/yen buying. I think the dollar may hit 95 yen by March," he said, adding that for now, the dollar/yen was likely to trade in ranges.

Japan's benchmark Nikkei average <.n225> surged as much as 0.8 percent before trimming all gains to fall 0.6 percent. Tokyo shares have been rising in tandem with the yen's slide against major currencies on expectations for bolder BOJ steps. The Nikkei tumbled 1.5 percent on Monday after investors booked profits from the index's 2.9 percent rally on Friday. <.t/>

The dollar rose as high as 90.18 yen, but was last trading down 0.5 percent at 89.18 yen. It touched a fresh 2-1/2-year high of 90.25 on Monday. The euro rose to 120.18, but recently down 0.5 percent at 118.94 yen. The euro hit its peak since May 2011 of 120.73 on Friday.

There has been a perception in markets that even if investors rooting for much bolder BOJ steps cut their yen short positions in disappointment over the ultimate outcome, the yen's rebound was likely to be limited relative to its 13 percent decline against the dollar and a 20 percent drop versus the euro over the past two months. Such views were fed by expectations the BOJ will continue to aggressively ease monetary policy to drive Japan out of years of deflation and support the economy.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.2 percent. The index was pulled down on Monday after briefly touching 17-1/2-month highs as Malaysian stocks suffered their biggest drop in 16 months on election risks.

POSITIVE FACTORS EMERGE

Overall market sentiment was likely to remain supported by signs of a compromise to avert a U.S. fiscal crisis and hopes for a recovery in global growth following last week's positive data from the world's top two economies, the United States and China.

European shares rose on Monday near two-year highs, with investors betting on an improving economy in Europe. Wall Street was closed for Martin Luther King Jr. Day.

Republican leaders in the U.S. House of Representatives have scheduled a vote on Wednesday on a nearly four-month extension of U.S. borrowing capacity, aimed at avoiding a fight over the looming federal debt ceiling and shifting their negotiating leverage for spending cuts to other fiscal deadlines.

London copper climbed 0.7 percent to $8,115 a ton on growing confidence in the strength of China's economic recovery ahead of an early gauge of manufacturing activity this week, while BOJ easing has also stoked investor appetite for risk.

U.S. crude futures steadied around $95.59 a barrel while Brent futures edged up 0.3 percent to $112.

Gold was up 0.2 percent to $1,692.60 an ounce on a fresh round of easing from the BOJ.

(Reporting by Chikako Mogi; Editing by Shri Navaratnam)

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As Jordan Elections Near, Protesters Focus on King

Bryan Denton for The New York Times

Local tribal leaders in southern Jordan waited for a campaign event to begin on Saturday. Parliamentary elections are being held on Wednesday.

AMMAN, Jordan — For two years, protests demanding reform here have seethed, fueled by complaints about corruption, incompetent governing and the slow pace of change. In November, deadly demonstrations against a cut in fuel subsidies spread throughout the country.

Bryan Denton for The New York Times

Young supporters of the Islamic Action Front who are boycotting elections follow their party’s demonstration online.

The widening anger has brought together longtime political opposition figures with those who were once a part of the monarchy’s loyal base. The focus of the protests has also started to broaden, from anger at corrupt officials to bolder expressions of dissatisfaction with King Abdullah II.

To quiet his critics, the king is relying on a new round of parliamentary elections scheduled for Wednesday, a contest that he has promised “will breathe life into our democracy.”

The vote comes as Jordan copes with a number of domestic challenges, including a crushing deficit and a flood of more than 200,000 Syrian refugees — the kinds of crises that have often derailed movements for reform.

However, while the opposition has often seemed more conservative in Jordan than elsewhere in the region — calling for reform rather than the overthrow of the government — it is has shown no sign of easing pressure on the king.

The disillusionment that has fueled the protests is concentrated in the southern city of Ma’an, known for uprisings and phosphate mines.

In the center of town this week, a group of men who had occupied a traffic circle to protest the region’s lack of jobs ate lunch in a tent. Some said they had worked as smugglers, but even that trade had dried up.

“We want to live,” proclaimed graffiti on a sculpture. Beyond it the charred remains of the governor’s residence was visible, set on fire during a recent protest.

The parliamentary campaign in Ma’an has focused on local issues — like winning the region its share of the spoils from the mines — and on the corruption that has become a rallying cry for dissent across the country.

“They don’t see anything from the precious mines,” said Abdul-Karim al-Bahri al-Muhameed, a former civil servant who is running with the support of his tribe. “The king is not serious about getting the money stolen by corruption,” he said.

He sat in the salon of a tribal leader, Sheik Adel al-Muhameed, a supporter of his candidacy who was boycotting the vote. “I don’t trust the Parliament,” he said.

During the last two years, the government had approached tribal leaders like him to try and stop the street protests, Mr. Muhameed said. “The government cannot handle it,” he said. The election, he added, “is a play.”

Citing a history of rigged elections in Jordan that have produced toothless legislatures, many government critics have dismissed Wednesday’s polling as a cosmetic and desperate effort by an absolute monarch to avoid handing over power. A few opposition groups, including the largest, the Jordanian Muslim Brotherhood, and the protest network known as Hirak are boycotting the vote.

“He doesn’t carry out of any of his promises,” said Nimer al-Assaf, the deputy general secretary of the Islamic Action Front, the Brotherhood’s political party. Mr. Assaf predicted that no more than 25 percent of registered voters would turn up at the polls. “People are rejecting the whole idea,” he said.

But other opposition groups are participating in the election, stirring new divides.

Other candidates, to be sure, have put aside their misgivings in the hope that freedom will gradually emerge.

“Democracy happens in degrees,” said Mohamed al-Hajouj, a Palestinian refugee who is running for Parliament, undeterred by gerrymandered districts that continue to underrepresent the country’s citizens of Palestinian origin, a majority.

Something had to be done, Mr. Hajouj reckoned, likening Jordan to a grenade ready to explode. The elections, he said, would keep it from blowing up.

Jordanian officials say they have added a number of election safeguards to prevent what was seen as a process manipulated by the country’s powerful intelligence services and marred by vote-buying and other fraud.

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At Obama’s church service, hymns, prayers – and a tweet?

WASHINGTON (Reuters) – There was preaching, praying and singing at President Barack Obama’s church service on Inauguration Day on Monday. But was there tweeting, too?

As Atlanta pastor Andy Stanley wrapped up his sermon at St. John’s Episcopal Church across from the White House by urging Obama to leverage his power for the greater good, a tweet went out from the president’s own Twitter feed.

“I’m honored and grateful that we have a chance to finish what we started. Our work begins today. Let’s go. -bo,” said the tweet, which went to more than 26 million Obama followers.

Obama typically designates tweets that he writes himself by signing his initials in lowercase: “-bo.” That led to questions over whether the president had tweeted from church – and perhaps provided a new chapter in the debate over the appropriate use of social media.

But a White House spokesman said Obama did not send the tweet in the middle of the church service.

That means it could have been done by Obama in advance and timed for release while he was in church, or that it was posted by Organizing for Action, the non-profit group that now operates the president’s Twitter account.

The new group, which is led by Obama’s former campaign team, plans to try to build public support for the president’s policies.

The group did not immediately comment on the authorship or timing of the tweet.

Even if Obama had sent out the tweet from church, such messages from the pew are no longer taboo, said Scott Williams, a pastor and consultant from Edmond, Oklahoma, who works with ministries to use social media to spread the word and engage members.

“It’s definitely OK – it’s relevant,” he said. He cited a verse from the prophet Isaiah: “Like a crane or a swallow, so did I twitter.”

“‘Thou shalt twitter in church’ is a way that I present it,” Williams said in an interview, noting that many people now used Bible apps on their mobile devices in the pews.

Stanley’s North Point Community Church in Atlanta produced a Christmas music video for iPhones and iPads that has been viewed 3.7 million times on YouTube, said Williams, who is familiar with the 33,000-member ministry.

Stanley delivered his sermon in a very “old-school” setting. St. John’s, a yellow church with white trim, was built in 1816 and often is called the “Church of the Presidents” because every president since James Madison has attended it at least occasionally.

The service included a mix of traditional hymns such as “Oh God, Our Help in Ages Past,” a gospel solo by singer Ledisi, and an African-American spiritual, “Great Day.” It also included readings and prayers from Jewish, Christian and Catholic clergy.

Stanley talked about a passage in the Bible where Jesus washes his disciples’ feet, setting an example of equality.

“What do you do when it dawns on you that you’re the most powerful person in the room? You leverage that power for the benefit of other people in the room,” Stanley said.

“Mister President, you have an awfully big room,” the pastor said. “It’s as big as our nation. At times, as you know, it’s as big as this world.”

(Editing by David Lindsey and Peter Cooney)

Social Media News Headlines – Yahoo! News

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