Helix BioPharma Announces Director Resignation






AURORA, ON–(Marketwire – Feb 10, 2013) –  Helix BioPharma Corp. ( TSX : HBP ) ( FRANKFURT : HBP ), a biopharmaceutical company developing drug candidates for the prevention and treatment of cancer, announced that on Friday, February 8, 2013 John A. Rogers has voluntarily resigned from Helix’s board of directors.


About Helix BioPharma Corp.






Helix BioPharma Corp. is a biopharmaceutical company specializing in the field of cancer therapy. The company is actively developing innovative products for the prevention and treatment of cancer based on its proprietary technologies. Helix’s product development initiatives include its novel L-DOS47 new drug candidate and its Topical Interferon Alpha-2b. Helix is currently listed on the TSX and FSE under the symbol “HBP.”


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Paternos issue report, challenge Freeh's findings


STATE COLLEGE, Pa. (AP) — A report commissioned by Joe Paterno's family says the late coach did nothing wrong in his handling of the Jerry Sandusky child sex abuse scandal and portrays the late Hall of Fame coach as the victim of a "rush to injustice" created by former FBI director Louis Freeh's investigation of the case for Penn State.


The family's critique, released Sunday, argues that the findings of the Freeh report published last July were unsupported by the facts.


Former U.S. Attorney General Dick Thornburgh, one of the experts assembled by the family's lawyer to review Freeh's report last year to Penn State, called the document was fundamentally flawed and incomplete.


Freeh's report reached "inaccurate and unfounded findings related to Mr. Paterno and its numerous process-oriented deficiencies was a rush to injustice and calls into question" the investigation's credibility, Thornburgh was quoted as saying.


In a statement released Sunday through a spokesman, Freeh defended his work.


"I stand by our conclusion that four of the most powerful people at Penn State failed to protect against a child sexual predator harming children for over a decade," he said.


Paterno's family released what it billed as an exhaustive response to Freeh's work, based on independent analyses, on the website paterno.com.


"We conclude that the observations as to Joe Paterno in the Freeh report are unfounded, and have done a disservice not only to Joe Paterno and the university community," the family's report said, "but also to the victims of Jerry Sandusky and the critical mission of educating the public on the dangers of child sexual victimization."


Freeh's findings also implicated former administrators in university president Graham Spanier, athletic director Tim Curley and retired vice president Gary Schultz. Less than two weeks after the Freeh report was released in July, the NCAA acted with uncharacteristic speed in levying massive sanctions against the football program for the scandal.


"Taking into account the available witness statements and evidence, it is more reasonable to conclude that, in order to avoid the consequences of bad publicity, the most powerful leaders at Penn State University — Messrs. Spanier, Schultz, Paterno and Curley — repeatedly concealed critical facts relating to Sandusky's child abuse" from authorities, trustees and the university community, Freeh wrote in releasing the report.


The former administrators have vehemently denied the allegations. So, too, has Paterno's family, though it reserved more extensive comment until its own report was complete.


The counter-offensive began in earnest this weekend. The family's findings said that Paterno:


— Never asked or told anyone not to investigate an allegation made against Sandusky 12 years ago, Saturday, Feb. 9, 2001.


— Never asked or told former administrators not to report the 2001 allegation.


— And never asked or told anyone not to discuss or hide information reported by graduate assistant Mike McQueary about the 2001 allegation.


"Paterno reported the information to his superior(s) pursuant to his understanding of university protocol and relied upon them to investigate and report as appropriate," the family's analysis said.


Paterno's widow, Sue, broke her silence Friday in a letter to hundreds of former players informing them of the report's impending release. "The Freeh report failed and if it is not challenged and corrected, nothing worthwhile will have come from these tragic events," she wrote.


"I had expected to find Louis Freeh had done his usual thorough and professional job," Thornburgh said in a video posted on paterno.com. "I found the report to be inaccurate in some respects, speculative and unsupported to the record compiled ... in short, fundamentally flawed as to the determinations made to the role — if any — Mr. Paterno played in any of this."


Freeh, in his report, said his team conducted 430 interviews and analyzed over 3.5 million emails and documents. The former federal judge said evidence showed Paterno was involved in an "active agreement to conceal" and his report cited email exchanges, which referenced Paterno, between administrators about allegations against Sandusky in 1998 and 2001.


According to Thornburgh's findings, Freeh's report relied on about 30 documents, including three notes authored by Paterno, and 17 emails. Four emails referenced Paterno — none sent by the octogenarian coach who notoriously shunned modern electronic technology.


Sandusky, 69, was sentenced to at least 30 years in prison in October after being convicted last summer of 45 criminal counts. Prosecutors said assaults occurred off and on campus, including the football building.


His arrest in November 2011 triggered the turmoil that led to Paterno's firing days later. Under pressure, Spanier left as president the same day. Curley was placed on administrative leave, while Schultz retired.


Spanier, Curley and Schultz are awaiting trial on obstruction and conspiracy, among other charges. They have maintained their innocence.


Critics have said that Freeh's team didn't speak with key figures including Curley, Schultz and Paterno, who died in January 2012 at age 85. The authors of the emails referenced in Freeh's report, which included Curley and Schultz, were not interviewed by Freeh, the family's analysis said.


Spanier spoke to Freeh six days before the report was released July 12.


"They missed so many key people. They didn't interview most of the key players, with the exception of President Spanier, who at the last minute we brought in and interviewed at a time when frankly the report ... was pretty well all prepared," Thornburgh said on the video.


Freeh said he respected the family's right to conduct a campaign to "shape the legacy of Joe Paterno," but called the critique self-serving. Paterno's attorney was contacted for an interview with the coach, he said, and Paterno spoke with a reporter and biographer before his death but not Freeh's team.


Curley and Schultz also declined numerous requests for interviews, Freeh said. They have been facing criminal charges since November 2011.


Freeh on Sunday cited grand jury testimony by Paterno in 2011 in which Paterno said a graduate assistant relayed to him the 2001 allegation against Sandusky of a "sexual nature" with a child.


He referred to a key point in the July report in which he said Spanier, Schultz and Curley drew up a plan that called for reporting Sandusky to the state Department of Public Welfare in 2001. But Curley later said in an email that he changed his mind "after giving it more thought and talking it over with Joe," according to Freeh's findings.


Said Freeh on Sunday: "These men exhibited a striking lack of empathy for Sandusky's victims by failing to inquire as to their safety and well-being, especially by not even attempting to determine the identity of the child" in the 2001 allegation.


The Paterno family report said Freeh chose not to "present alternative, more plausible, conclusions" about Paterno's actions. Their attorney, Wick Sollers, responded Sunday that Freeh didn't take the time to read the family's critique, or address accusations of procedural shortcomings.


"A failure to consider the facts carefully is exactly the problem our expert analysis highlights," Sollers said. "Everyone, including Mr. Freeh, should take the time to study this report."


Sue Paterno had directed Sollers, to review Freeh's report and her husband's actions. Sollers brought in Thornburgh, as well as former FBI profiler and special agent Jim Clemente, described as a child molestation and behavioral expert.


Also brought in was Dr. Fred Berlin, a psychologist from Johns Hopkins Hospital and School of Medicine whose profile lists him as the founder of the Johns Hopkins Sexual Disorders Clinic.


The analysis included interviews, including of Paterno before his death, as well as a review of documents and testimony and "information from our access to the lawyers for other Penn State administrators."


The Paterno family's analysis said Freeh's report turned into a platform for scapegoating Paterno rather than seizing on an opportunity to educate about identifying child sex abuse victims, and ignored "decades of expert research and behavioral analysis regarding the appropriate way to understand and investigate a child victimization case."


It said expert analysis showed Sandusky "fooled qualified child welfare professionals and law enforcement, as well as laymen inexperienced and untrained in child sexual victimization like Joe Paterno." The coach respected Sandusky as an assistant, but knew little about Sandusky's personal life, the analysis said, though Freeh's report "missed that they disliked each other personally, had very little in common outside work, and did not interact much if at all socially."


Penn State removed a bronze statue of Paterno outside Beaver Stadium on July 22. The next day, the NCAA in levying sanctions said Freeh's report revealed "an unprecedented failure of institutional integrity leading to a culture in which a football program was held in higher esteem."


The NCAA improperly relied on that report and never identified a rules infraction "based on Sandusky's crimes, much less an infraction by Penn State that implicated the NCAA's jurisdiction and core mission of ensuring competitive balance," the Paterno family report said.


A four-year bowl ban and steep scholarship cuts were included among the sanctions, while 111 wins between 1998 and 2011 under Paterno were vacated. It meant Paterno no longer holds the record for most wins by a major college coach.


___


Family report: http://paterno.com/


Freeh comment: http://www.freehgroup.com/news/29


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How Obama can end Congo conflict












Conflict in Congo


Conflict in Congo


Conflict in Congo


Conflict in Congo


Conflict in Congo








STORY HIGHLIGHTS


  • President Obama can help end the Congo conflict for good, says Vava Tampa

  • Obama has asked Rwanda to end all support to armed groups in the Congo

  • FDLR militia gang is a threat to stability and must leave Congo

  • Obama must push for change in Congolese government, argues Tampa




Editor's note: Vava Tampa is the founder of Save the Congo, a London-based campaign to tackle "the impunity, insecurity, institutional failure and the international trade of minerals funding the wars in Democratic Republic of the Congo." Follow Vava Tampa on twitter: @VavaTampa


(CNN) -- Now that President Obama has taken a public stand on the warlords and militia gangs tyrannizing DR Congo, there is a sense that the next chapter in the human tragedy that has been raging there over the past decade and half is about to be written -- or so we can hope.


In the DRC -- Africa's largest sub-Saharan country -- invasions, proxy wars and humanitarian crises have senselessly shut down millions of lives, displaced millions more from their homes and left countless women and young girls brutally raped with the world barely raising an eyebrow.


The latest murderous attempt by the M23 militia gang to besiege Goma, the strategic regional capital of Congo's eastern province of North Kivu, seems to have backfired.



Vava Tampa

Vava Tampa



The United Nations says Rwanda has helped to create and militarily supported M23. Although Rwandan President Paul Kagame denies backing M23, the accusation has taken off some of the international gloss he had long enjoyed in the West, and precipitated cuts and suspension of aid money that goes directly to the Kagame regime by the Netherlands, Sweden, Germany, Britain and the European Union.


The United States, which gives no money directly to the Rwandan government, suspended its military aid. In a baffling expression of a refinement of the U.S. position, President Obama made a rare telephone call to Kagame to emphasize "the importance of permanently ending all support to armed groups in the DRC." That set a firm red line on the situation in that region, the first one by President Obama since becoming president in 2008.
















Watch video: Kagame on Congo


This was certainly right and good. Kagame is no fool; the diplomatic but emphatic content of that telephone call, monitored by White House's National Security staff and published thereafter for public consumption, speaks volumes. He clearly understood the implicit threat. But it was not good enough.


Left unsaid is that withholding aid money that goes directly to the Kagame regime has not changed many realities on the ground -- a painful reminder of the limits of what previous half-hearted, ambivalent international attempts to halt the crisis in that country had achieved.


However, the situation is not hopeless. President Obama can help to halt the wars engulfing the Congo. It is both economically and politically affordable.


Here is my suggestion -- a three-point road map, if you like, for President Obama, should he choose to put the weight of the United States squarely on the side of the Congolese and engage much more robustly to help end the world's bloodiest war and human tragedy.


Read more: Why the world is ignoring Congo war


1. Changes in Kinshasa


If we are to be blunt with ourselves, Congo's major problem today -- the chief reason that country remains on its knees -- is its president Joseph Kabila. Paul Kagame is just a symptom, at least in theory.


The crisis of leadership in the capital Kinshasa, the disastrous blend of lack of political legitimacy and moral authority, mixed with poor governance and vision deficiency, then compounded with dilapidated state institutions, has become the common denominator to the ills and wrongs that continues to overwhelm the Congo.


In other words, peace will never be secured in Congo, if the moribund status quo is still strutting around Kinshasa.


Obama's minimum objective in regard to ending the wars and human tragedy engulfing the Congo should be to push for changes in Kinshasa. He must make this one of the "10 Commandments" of the Obama Doctrine.


Circumstances demand it to re-energize Congo's chance of success and to enable the renaissance of a "New Africa." And given the effects of Congo's mounting death toll and the speed at which HIV/AIDS is spreading because of the use of rape as a weapon of war, the sooner the better.


2. Keep Kagame in the naughty corner


The wars and human tragedy engulfing the Congo have many fathers and many layers. Rwanda, and to some extent Uganda -- run by Africa's two dearest autocratic but staunchly pro-American regimes -- are, as they have been many times in the past, despite their denials, continuing to provide support to warlords and militia gangs terrorizing the Congolese people.


This is not an apocryphal claim, it's an open secret in Kinshasa, Kampala and Kigali as much as it is in Washington or White Hall, and as real as Charles Taylor's role in Sierra Leone or Iran's support to Hezbollah.



If President Obama is remotely serious about saving lives in Congo, then fracturing Rwanda's ability to directly or indirectly harbor warlords ... is critical.
Vava Tampa, Save the Congo



Indeed, reporters across Congo and across the region would testify to this. Kigali has been, one can safely argue, the sole shareholder in the M23 militia gang -- and its elder sisters CNDP and RCD-Goma.


It cannot wash its hands in Pontius Pilate fashion of either the ICC-wanted M23 warlord Bosco Ntaganda, also known as The Terminator, or Laurent Nkunda, who is wanted by the Congolese government for war crimes and is under house arrest in Kigali.


Read more: Prosecutor seeks new Congo war crimes warrants


If President Obama is remotely serious about saving lives in Congo, then fracturing Rwanda's ability to directly or indirectly harbor warlords, support militia gangs, militarize or ethnicize the wars in Congo for control of Congo's easily appropriable but highly valuable natural resources is critical, however politically disgruntling it may be to some in the State Department.


It would reduce the scale, scope and intensity of the killing, raping and uprooting of the Congolese, it would crush Kinshasa's ability to use external support to warlords and militia gangs as an alibi for a lack of progress and, above all, decrease the growing unease of the Congolese towards Rwanda over the crimes of FDLR and the role played by their government in Congo.


3. FDLR


The continued existence in Congo of FDLR, a Rwandan militia gang made up largely of Hutus -- whose leadership took part in the 1994 genocide of Tutsi -- remains one of the most persistent and serious threats to stability in Congo and the region.


Addressing this crisis is of significant importance from both a political and humanitarian viewpoint.


Though there are no definitive statistics on the exact numbers of FDLR fighters, the good news is that experts tell us that the vast majority of its rank and file are in their 20s and early 30s, which means they were too young to have taken part in the genocide in 1994.


The United States, together with the U.N., the EU and African Union, should appoint a special envoy for the African Great Lakes region to midwife a conducive political arrangement in Kigali that could see them returning home -- and see their leaders and fundraisers in Europe arrested.


The opinions expressed in this commentary are solely those of Vava Tampa.






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Charlie Sheen revisits alter-ego in movie “Mind of Charles Swan”






LOS ANGELES (Reuters) – It’s a downward spiral for Charlie, a successful professional whose life slides into despair when his girlfriend breaks up with him.


This Charlie could be Charlie Sheen, but it’s actually the fictional Charles Swan, a charming, immature character played by Hollywood’s favorite bad boy actor and filmed only a few months after Sheen‘s off-screen antics got him fired in 2011 from TV comedy “Two and a Half Men.”






Sheen stars in “A Glimpse Inside the Mind of Charles Swan III,” opening in U.S. movie theaters on Friday. The film is directed and written by Roman Coppola, son of “The Godfather” director Francis Ford Coppola.


Coppola, 47, who is Oscar-nominated for his work on the screenplay of “Moonrise Kingdom,” talked with Reuters about working with Sheen on the “playful romp” about lost love and revenge fantasies set in a stylized Los Angeles.


Q: Did you write the film specifically for Charlie Sheen to star in?


A: “I didn’t write it for him in mind. I was excited to write a piece about a very outlandish lead character, someone charming, immature, struggling and full of imagination. As I was finishing it, I kind of realized Charlie Sheen would be perfect. Both are larger than life. They use their wit and charm to smooth over problems in their life to not deal with things. But it’s a coincidence that it’s the same first name.”


Q: Both of you are part of Hollywood dynasties. Your father is Francis Ford Coppola and his dad is Martin Sheen. When did you and Charlie first meet?


A: “We met as boys when we were around 11 years old on the set of (the 1979 film) ‘Apocalypse Now’ (which Francis Ford Coppola directed and Martin Sheen starred in). Our families were in the Philippines (for the shoot) for many months so Charlie and I became pals. We have a lot of fond memories hanging out together in that exotic location.”


Q: What type of memories?


A: “I remember being with him when they built the (fictional) Kurtz Compound. Charlie and I would cruise around (the set) and there would be all sorts of skulls and weapons and things that are interesting to 11-year old boys. I was also interested in theatrical makeup, so I introduced Charlie to the hobby of making scars.”


Q: Did you get any pushback from family, friends or financiers when you decided to cast Sheen in “Charles Swan“?


A: “Basically there was no film company willing to finance the movie with Charlie. Insurance companies didn’t want my business, nor did any bond company. There was very little support in the film community to finance that picture. So I had to be very crafty about getting the financing.”


Q: Were you surprised at that?


A: “I was surprised to some degree because I had other talent attached to it like Jason Schwartzman and Bill Murray. You’d think that would tip people’s curiosity. When people say ‘No’ or ‘Why would you want to cast Charlie Sheen?’ it makes me feel like everyone else is crazy.”


Q: But it’s Charlie who conjures up the images of crazy – public battles with “Two and Half Men” creator Chuck Lorre and his ex-wives, Denise Richards and Brook Mueller. He is the one who was in rehab for drugs, who damaged hotel rooms, lived with porn stars, and called himself a warlock with “tiger blood” and “Adonis DNA.”


A: “But that’s very comic book, that’s not a real person. That’s a portrayal that comes from wanting to make stories. He’s an individual. He’s obviously a talented guy and talent doesn’t go away. Ten years ago we’d be having this exact same conversation about Robert Downey Jr. and how crazy and irresponsible he is. Now we know he’s at the top of his game. So to me it’s kind of immature to cotton to that kind of stuff. It’s gossipy and phony.”


Q: So none of that was prevalent during the shooting of your film?


A: “Charlie was totally committed throughout the entire shooting. He showed up every day, he knew his lines, he learned Spanish and he learned to dance. I had a professional, fantastic experience with a highly skilled and dedicated performer.”


Q: How would you describe Charlie’s acting?


A: “He’s very intuitive. On a technical level, he’s very experienced and capable. He knows where to stand, where the light is. Then there is the magical aspect of acting where you’re able to create a see-through veil in which your feelings come out and they’re captured by the camera.


“No one knows how it works. Some people can do it and Charlie certainly has it. So despite all the chitter chatter of Charlie this and breakdown that, he’s a fine actor and he shines in this performance.”


(Reporting By Zorianna Kit, editing by Jill Serjeant and Doina Chiacu)


Movies News Headlines – Yahoo! News





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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.


The S&P 500 also posted a sixth straight week of gains for the first time since August.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.


Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.


AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.


The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.


"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.


For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.


Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.


Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.


Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.


Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Volume was roughly 5.6 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 nearly 2 to 1 and on the Nasdaq by almost 5 to 3.


(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)



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Canada rate hike views pushed back as economy struggles: Reuters poll






TORONTO (Reuters) – Half of Canada‘s primary dealers have recently pushed back forecasts for the timing of the central bank’s next interest rate hike, a Reuters poll showed on Friday after weak jobs and housing starts data suggested the economy will struggle in 2013.


The economic figures released on Friday were the latest in a string of dismal indicators. Earlier reports had prompted the Bank of Canada to say on January 23 that a rate hike would be further in the future than it had once thought.






The median forecast in Friday’s Reuters poll of Canada’s 12 primary dealers, the institutions that deal directly with the Bank of Canada as it carries out monetary policy, showed their median forecast for the next rate hike is still the first quarter of 2014, unchanged from a poll on January 23.


But the latest survey showed that since then six dealers have pushed their forecasts further into the future.


“We’re becoming increasingly concerned about how soft growth will be,” said Doug Porter, chief economist at BMO Capital Markets, which on Wednesday changed its target date for a rate hike to April 2014 from a month earlier.


Scotiabank went further, saying a rate hike won’t happen until 2015. It had previously expected a move in the first quarter of next year, but it said the deteriorating economy and expectations the U.S. Federal Reserve will not tighten its monetary policy until at least 2015 have changed its view.


RARE TIGHTENING BIAS


The Canadian central bank has been an outlier among its peers in major economies, signaling since last April that rates would need to rise. The bank was the first to hike following the global financial crisis.


But it has been forced to temper that attitude, saying after its January policy meeting that the economy will likely not hit full capacity until the second half of 2014. In October, the bank had said it expected to close the output gap by the end of 2013.


“In a sluggish global economy, we simply don’t have enough domestic demand to give us the growth necessary to justify a rate hike,” said CIBC World Market’s chief economist, Avery Shenfeld, who had penciled in the first quarter of 2014 as his target for a rate hike a year ago.


Dealers surveyed on Friday said the housing market was also a concern.


Dizzying household credit growth and a hot housing market last year prompted the federal government to impose tighter mortgage rules. But data, including unexpected soft housing starts figures on Friday, show that activity in the real estate sector is now dropping rapidly.


“Some of the domestic fatigue through the housing market as orchestrated by tighter mortgage regulation is beginning to bite,” said David Tulk, chief Canada macro strategist at TD Securities.


“The Bank (of Canada) is walking a very tight line between keeping one eye on household leverage and respecting an economic backdrop that remains subdued at best.”


TD, which had expected a hike as early as October of this year, now sees it coming next January. Bank of America-Merrill Lynch last week pushed out its forecast for a rate increase to the second half of 2014 from the fourth quarter of 2013.


Even the most bullish forecaster, Deutsche Bank Securities, nudged its rate hike expectations down to 1.25 percent by the end of 2013 from 1.50 percent, and said Friday’s data tempered its view on growth.


Most primary dealers expect the benchmark interest rate to remain at 1 percent at the end of this year. The median forecast saw interest rates rising to 1.75 percent by the end of 2014.


“Both the employment and the housing starts numbers – they were ugly. But not necessarily unexpected,” said Carlos Leitao, chief economist at Laurentian Bank. “By the same token, one shouldn’t over-dramatize it … I think we are now, in both cases, more back to reality.”


(Editing by Jeffrey Hodgson; and Peter Galloway)


Economy News Headlines – Yahoo! News





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ADP Dealer Services Continues to Gain Traction With Single Service Workflow Tool, ADP ServiceEdge(SM)






HOFFMAN ESTATES, IL–(Marketwire – Feb 9, 2013) – ADP Dealer Services ( NASDAQ : ADP ), a leading provider of computing solutions for vehicle dealers and manufacturers, today announced that ADP ServiceEdge has quickly gained popularity throughout the industry since its launch in July 2012, changing the way dealerships approach their Service Retail Workflow. With a single service workflow tool integrating multiple dealership departments, dealers are saving time, increasing productivity and keeping their customers satisfied.


“ADP ServiceEdge is such a smooth and efficient process, I can now look my customers in the eye rather than stare at a computer screen,” says Diane Barry, Service Manager of Flemington Subaru and new ADP ServiceEdge user. “ADP ServiceEdge has simplified the daily routine for our advisors, allowing them to spend more time with customers and technicians, so we can thoroughly address the customers’ concerns.”






ADP ServiceEdge empowers the customer to begin the service process anywhere — in the dealership, at home, or on a mobile device. It helps dealers focus on — and increase — “customer pay” service revenue, outside of standard warranty work. ADP ServiceEdge combines appointment setting, lane write-ups, and lift inspections as well as integrates with the ADP Drive Dealer Management System.


“Gone are the days of relying on one vendor for appointments, another for reception, and yet another for mobile walkarounds and technician inspections,” says Bob Karp, SVP of North American Field Operations and Sales for ADP Dealer Services. “Now, dealerships can use a single workflow, where each piece talks to each other. Appointments and repair orders can be created in less time, helping our clients be more productive.”


Dealer Services is gaining positive reception and traction, and has already sold ADP ServiceEdge into nearly 500 client sites in the U.S. since its launch.


About ADP


ADP, Inc. ( NASDAQ : ADP ), with more than $ 10 billion in revenues and approximately 600,000 clients, is one of the world’s largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP’s easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company’s website at www.ADP.com.


Marketwire News Archive – Yahoo! Finance




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Northeast storm disrupts travel for sports teams


Several professional and college sports teams were forced to rearrange their travel plans as a massive storm swept through the Northeast, dumping a few feet of snow in some areas.


The NBA's New York Knicks were stuck in Minnesota after playing the Timberwolves on Friday night, hoping to try to fly home sometime Saturday. The San Antonio Spurs were also staying overnight in Detroit after seeing their 11-game winning streak fall to the Pistons, awaiting word on when they might be able to fly to New York for their game Sunday night at Brooklyn.


"We can't get there tonight — we know that," Spurs coach Gregg Popovich said. "So we're going to stay here tonight and try to get there (Saturday). Hopefully, we will be able to get there, but at this point, we don't know."


Airlines canceled more than 5,300 flights through Saturday, and New York City's three major airports and Boston's Logan Airport closed.


The Brooklyn Nets planned to take a train home instead of flying from Washington D.C. after losing to the Wizards on Friday night.


Knicks coach Mike Woodson said before a 100-94 victory that his team initially planned to fly home after the game, but the flight had already been postponed. New York is scheduled to play the Los Angeles Clippers at Madison Square Garden on Sunday.


The NHL's Boston Bruins pushed back the start of Saturday's game against the Tampa Bay Lightning by six hours because of the blizzard. The game originally slated for 1 p.m. was rescheduled for 7 p.m., but Boston was expected to be one of the cities hit hardest by the storm.


The storm had dumped more than 2 feet of snow on New England by early Saturday and knocked out power to 650,000 customers. The National Weather Service said up to 3 feet of snow is expected in Boston, threatening the city's 2003 record of 27.6 inches.


The Bruins and Lightning each already had road games scheduled for Sunday night.


The New Jersey Devils were still scheduled to host the Pittsburgh Penguins at 1 p.m., while the New York Islanders were slated to play at home against the Buffalo Sabres at 7 p.m.


Two Ivy League men's college basketball games that were scheduled for Saturday night were moved back to Sunday because of treacherous travel conditions.


Dartmouth will play at Cornell at noon on Sunday in Ithaca, N.Y., and Harvard will visit Columbia at 2 p.m. Sunday in New York. Dartmouth played at Columbia on Friday night, and Harvard played at Cornell. Two other Ivy League games were still scheduled to be played Saturday night, with Yale visiting Princeton and Brown playing at Pennsylvania.


Aqueduct also called off Saturday's card because of the storm. The track and Belmont Park were expected to remain open for wagering on out-of-town races, with racing scheduled to resume Sunday.


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Katie Holmes takes fashion line crosstown






NEW YORK (AP) — Katie Holmes and her business partner and stylist Jeanne Yang joined the New York Fashion Week frenzy last season with a show at Lincoln Center, only to leave it behind this time around.


It wasn’t all the people, or even the paparazzi, that drove them away. It was their own clothes. Their look, which they describe as one of careful artistry and potential heritage pieces that women will keep a lifetime, is a little too quiet for all the splash, they said.






“We wanted to tell the full story behind the frivolity,” said Yang, adding: “It’s a quiet approach.”


Holmes and Yang sat down at a hotel on the opposite side of Manhattan with a handful of fashion journalists on Thursday, the opening day of fashion week, to walk them personally through 15 looks Holmes called their favorites.


Katharine Hepburn‘s practical-yet-chic look of the 1940s, Donna Karan‘s use of the shoulders and back as erogenous zones, Halston’s glamorous sportswear and Chanel’s mastery of seaming and studs were all in their minds as they built the pieces and outfits.


“We’re not trying to be trendy … but we’re trying to make high-quality pieces you’ll wear over and over again,” Holmes said.


Holmes was wearing an A-line shirtdress in the blue-and-black plaid that was dominant in the collection, while Yang wore one of the slouchy blazers that has become a key piece for the label, founded in 2009.


For fall, they’ll offer a peplum top with a suede waist band and maxi skirt in the same plaid. Holmes suggested that outfit for a dinner out. Swap the shirt for a tank top for brunch and a blouse to go to the theater. Yang said she hoped a customer would “feel smart” in a white cashmere-silk boucle sweaterdress with a strip of white silk at the hem.


Holmes, meanwhile, was partial to the baggy suede caramel-colored pants that hit just above the ankle, worn with a bow-neck blouse in a deep shade of lipstick pink.


The duo made a point of noting that 70 percent of production of Holmes & Yang happens in New York and the other 30 percent in Los Angeles.


___


Follow Samantha Critchell on Twitter at http://twitter.com/AP_Fashion


Entertainment News Headlines – Yahoo! News





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Wall Street advances after stream of economic data

NEW YORK (Reuters) - Stock index rose on Friday after a batch of positive economic data points, but gains were checked with the benchmark S&P index at five-year highs as investors looked for strong catalysts to push the market further upward.


Data showed Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand, while German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Another positive sign was U.S. economic data which showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


But wholesale inventories unexpectedly fell 0.1 percent in December as auto dealers and agricultural suppliers drew down their stocks.


The S&P 500 <.spx> has risen for five straight weeks and is up 6.3 percent for the year. Its advance was helped by legislators in Washington averting a series of automatic spending cuts and tax hikes earlier in the year, as well as better-than-expected corporate earnings and data that pointed to modest economic improvement but no immediate change in the Federal Reserve's stimulus plans.


The index, hovering near five-year highs, has found it tougher to climb in recent days as investors await strong trading incentives to drive it further upward.


"We are going to have this churn and this consolidation, which actually isn't a bad thing - it's actually good the market isn't being so volatile and is actually consolidating because it is building a base," said Ken Polcari, Director of the NYSE floor division at O'Neil Securities in New York.


"If it builds a base, from there it is easier to make the argument that you move ahead."


The Dow Jones industrial average <.dji> gained 67.62 points, or 0.48 percent, to 14,011.67. The Standard & Poor's 500 Index <.spx> climbed 7.82 points, or 0.52 percent, to 1,517.21. The Nasdaq Composite Index <.ixic> rose 27.34 points, or 0.86 percent, to 3,192.47.


McDonald's Corp said January sales at established hamburger restaurants around the world fell 1.9 percent, a steeper decline than analysts expected. Still, shares edged up 0.5 percent to $94.11.


Healthcare stocks were among the best performers, with the Morgan Stanley healthcare payor index <.hmo> up 2.3 percent. Molina Healthcare Inc surged 12.1 percent to $32.36 as the biggest boost to the index after posting fourth-quarter earnings.


LinkedIn Corp jumped 19.3 percent to $148.02 after announcing blow-out quarterly profits and a bullish forecast for the year that exceeded Wall Street's already lofty expectations.


According to Thomson Reuters data through Friday morning, of 339 companies in the S&P 500 that have reported earnings, 69.9 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies grew 5.2 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Bernadette Baum)



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