S&P 500 index closes at a five-year high

NEW YORK (AP) — The Standard & Poor's 500 index is closing at its highest level in five years as the stock market extends a New Year's rally.The S&P 500 closed at 1,466 Friday, the highest since Dec. 31, 2007, before the financial crisis.That's a gain of seven points on the day. The index is up 4.6 percent over the past week after lawmakers passed a last-minute budget agreement that avoided...

Read More..

S&P 500 finishes at 5-year high on economic data

NEW YORK (Reuters) - The benchmark Standard & Poor's 500 index ended at a five-year high on Friday, lifted by reports showing employers kept up a steady pace of hiring workers and the vast services sector expanded at a brisk rate.The gains on the S&P 500 pushed the index to its highest close since December 2007 and its biggest weekly gain since December 2011.Most of the gains came early in...

Read More..

Stocks gain, pushing the S&P 500 to 5-year high

The Standard & Poor's 500 closed at its highest level in five years Friday after a report showed that hiring held up in December, giving stocks an early lift.The S&P 500 finished up 7.10 points at 1,466.47, its highest close since December 2007.The index began its descent from a record close of 1,565.15 in October 2007, as the early signs of the financial crisis began to emerge. The index...

Read More..

US troops arrive in Turkey for Patriot missiles

ANKARA, Turkey (AP) — U.S. troops have started to arrive in Turkey to man Patriot missiles meant to protect the NATO ally from potential Syrian warheads, the U.S. military said Friday.The United States, Germany and the Netherlands are each deploying two batteries of the U.S.-built defense system to boost ally Turkey's air defenses against any spillover from Syria's nearly 2-year civil war. The Patriot...

Read More..

Church of England ends ban on gay bishops

The Church of England has lifted a ban on gay male clergy who live with their partners from becoming bishops on condition they pledge to stay celibate, threatening to reignite an issue that splits the 80-million-strong global Anglican community.The issue of homosexuality has driven a rift between Western and African Anglicans since a Canadian diocese approved blessings for same-sex couples in 2002...

Read More..

UK police charge Nepalese man with torture

 British police said Friday they have charged a serving colonel in the Nepalese army with two counts of torture allegedly committed during the Himalayan nation's civil war. The case has touched off a diplomatic spat, with the Nepalese government summoning the U.K. ambassador in Kathmandu to protest.Kumar Lama, 46, was arrested Thursday at a residential address in the English town of St. Leonards-on-Sea,...

Read More..

UK police charge Nepali colonel accused of torture

LONDON/KATHMANDU (Reuters) - British police charged a Nepali army colonel on Friday with two counts of torture during the Himalayan nation's decade-long civil war, despite the Nepali government's demanding his immediate release.Nepal summoned the British ambassador earlier on Friday to express its "strong objection" to Kumar Lama's detention.Rights groups accuse both the security forces and former...

Read More..

Northern Irish fighting rages on as rioters branded "a disgrace"

BELFAST (Reuters) - Northern Irish police came under attack by pro-British loyalists on Friday as the province's first minister branded rioters "a disgrace" and said they were playing into the hands of rival militant nationalists.Rioting began a month ago after a vote by mostly nationalist pro-Irish councillors to end the century-old tradition of flying the British flag from Belfast City Hall every...

Read More..

Earnings from McDonald's, Microsoft sink stocks

NEW YORK (AP) -- Poor earnings reports from three companies in the Dow Jones industrial average — Microsoft, General Electric and McDonalds — sent indexes down sharply Friday, marking a sour end to an otherwise strong week in the stock market.McDonald's led a broad drop in the Dow, falling 3 percent. The Dow was down 151 points at 13,397 shortly after noon."I'm concerned about corporate earnings,...

Read More..

McDonald's Canada Reveals How They Make Famous Fries

McDonald's Canada is at it again, demystifying their french fry recipe "from the farm to all the way to the fryer."In their new behind-the-scenes video, Scott Gibson, manager of the company's supply chain, takes customer questions on their world-famous fries.Gibson addresses the first question asking whether or not the potatoes used by the fast food restaurant are real. Standing in the middle of the...

Read More..

Apple’s New iPad Mini Is Pricey but That Won’t Deter Fans: TechCrunch’s John Biggs

It's officially here: The iPad mini, the subject of endless speculation and rumors over the past year, made its debut Tuesday at the California Theater in San Jose, Calif. The iPad mini starts at $329 and hits store shelves Nov. 2. Pre-sales begin Oct. 26. It boasts a 7.9-inch display, weighs 0.68 pounds and is 7.2mm thick. The design closely resembles the iPod Touch and comes in both black and white.Related:...

Read More..

US economic growth improves to 2 pct. rate in Q3

WASHINGTON (AP) -- The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending.Growth improved from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday.The pickup in growth may help President Barack Obama's message that the economy is improving. Still, growth...

Read More..

Disney buying Lucasfilm for $4.05 billion

LOS ANGELES (AP) — Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind "Star Wars," from its chairman and founder, George Lucas. It's also making a seventh movie in the "Star Wars" series called "Episode 7," set for release in 2015, with plans to follow it with Episodes 8 and 9 and then one new movie every two or three years.The Walt Disney Co. announced the blockbuster...

Read More..

RIM’s biggest problem: It’s still scrambling to catch yesterday’s hottest mobile app

The moment I first realized that RIM (RIMM) was truly in enormous trouble was back in 2010 when I heard then co-CEO Jim Balsillie downplay the importance of apps. Yes, you read that correctly. Balsillie actually told attendees at a Web 2.0 summit in 2010 that the Internet itself was the most important “app” for mobile devices and contended that the “Web needs a platform that allows you to use your...

Read More..

Without an ‘iTV,’ Apple’s growth could shrink to the single digits by 2015

Another analyst believes that Apple is losing its shine. Toni Sacconaghi of Bernstein Research on Thursday trimmed his price target for the company, citing concerns that growth may be slowing. The analyst believes that iPhone sales will remain strong for at least the next two years, however Apple (AAPL) is expected to lose overall market share “if it does not bring out a lower-price device” in the...

Read More..

Windows already threatening iPhone in Southern Europe

Kantar Worldpanel’s report for November came out and much has been made of the iPhone market share surge in the United States. What I find interesting in the November numbers is just how ice cold the iPhone has gone in so many international markets, from Australia to Brazil to Southern Europe. The iOS market share showed hefty declines outside in many major markets: down 5.4 percentage points in Australia...

Read More..

RIM shares dive as fee changes catch market off guard

 Shares of BlackBerry maker Research In Motion Ltd plunged more than 20 percent on Friday on fears that a new fee structure for its high-margin services segment could put pressure on the business that has set the company apart from its competitors.It was the stock's biggest, single-day, percentage price drop since September 2008. But shares were still nearly 80 percent above the year's low, which...

Read More..

TSX ends flat as RIM buckles, gold miners bounce

TORONTO (Reuters) - Canada's main stock index ended little changed on Friday as gold miners gained on safe-haven buying amid U.S. budget uncertainty, while BlackBerry maker Research In Motion Ltd plunged more than 20 percent.The index's materials sector, which includes miners, rose 0.4 percent. Even though the price of gold was near its lowest level in four months, the gold-mining sub-sector added...

Read More..

Apple’s New iPad Mini Is Pricey but That Won’t Deter Fans: TechCrunch’s John Biggs

It's officially here: The iPad mini, the subject of endless speculation and rumors over the past year, made its debut Tuesday at the California Theater in San Jose, Calif. The iPad mini starts at $329 and hits store shelves Nov. 2. Pre-sales begin Oct. 26. It boasts a 7.9-inch display, weighs 0.68 pounds and is 7.2mm thick. The design closely resembles the iPod Touch and comes in both black and white.Related:...

Read More..

US economic growth improves to 2 pct. rate in Q3

The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, buoyed by an uptick in consumer spending and a burst of government spending.Growth improved from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday.The pickup in growth may help President Barack Obama's message that the economy is improving. Still, growth remains too weak...

Read More..

Disney buying Lucasfilm for $4.05 billion

LOS ANGELES (AP) — Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind "Star Wars," from its chairman and founder, George Lucas. It's also making a seventh movie in the "Star Wars" series called "Episode 7," set for release in 2015, with plans to follow it with Episodes 8 and 9 and then one new movie every two or three years.The Walt Disney Co. announced the blockbuster...

Read More..

Has Obama Been Good for Millionaires?

The question of whether Americans are better off than they were four years ago depends, of course, on the American.For the 12 million unemployed, the answer is most certainly no.But for many of America's millionaires, the answer may be more affirmative.A new study from WealthInsight, the London-based wealth-research and data firm (and yes, they are non-partisan), showed that the United States added...

Read More..

Obama Wins 2012 Election: Why Your Taxes Are Going Up

When President Obama and the new Congress begin to tackle important legislation and federal policy in January, one of the key issues will be how to reform America's byzantine tax code.Obama campaigned on a platform to raise taxes on the wealthiest Americans, declaring that millionaires and billionaires need to "pay their fair share." The president proposed the highly controversial "Buffett Rule,"...

Read More..