Wall Street up slightly in choppy trade over "cliff" worry

NEW YORK (Reuters) - Wall Street edged higher in a choppy session on Monday, with the S&P 500 on track for double-digit gains for the year, as politicians bargained for a deal to avert the "fiscal cliff."

Taxes were set to rise for many Americans this week unless U.S. lawmakers could cut a last-minute deal, an outcome that was possible but seemed unlikely.

Senate Majority Leader Harry Reid said the Senate would reconvene at 11 a.m. Washington time (1600 GMT) to continue discussions on the fiscal cliff - $600 billion in automatic tax hikes and spending cuts that kick in January 1.

The last trading session of the year is expected to be volatile on low volume and as investors keep a close eye on headlines out of Washington.

"Even if we end up with a deal, it will be just a band-aid, not a real fix. So we will see a volatile session today, with all eyes on the debates, comments out of Washington," said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York.

"I'm not expecting a major rally or a selloff," Ghriskey added.

Despite recent declines over the stalemated budget talks, the S&P 500 is up about 11.5 percent for the year compared with a nearly flat performance in 2011. The Dow industrials are about 6 percent higher and the Nasdaq composite is up about 14 percent for 2012.

The Dow Jones industrial average <.dji> was up 7.45 points, or 0.06 percent, at 12,945.56. The Standard & Poor's 500 Index <.spx> was up 4.53 points, or 0.32 percent, at 1,406.96. The Nasdaq Composite Index <.ixic> was up 17.63 points, or 0.60 percent, at 2,977.95.

Bank stocks rose after a New York Times report that U.S. regulators are nearing a $10 billion settlement with several banks that would end the government's efforts to hold lenders responsible for faulty foreclosure practices.

Bank of America Corp was up 0.4 percent at $11.41 and Citigroup rose 0.2 percent to $39.08.

While midnight is the deadline for a fiscal deal, the government can pass legislation in 2013 that retroactively cancels or moderates the impact of going over the fiscal cliff.

Investors have remained relatively sanguine about the process, believing it will eventually be solved. In the past two months markets have not shown the kind of volatility that was present during the fight to raise the debt ceiling in 2011.

Rather, equities have largely performed well in the last two months, buoyed by signs of economic recovery, an improving housing market and monetary policy designed to stimulate growth and lower unemployment.

However, U.S. stocks dropped on Friday, with significant losses in the last minutes of trading, as prospects for a deal worsened at the beginning of the weekend.

On Sunday, President Barack Obama said on NBC's "Meet the Press" investors could begin to show greater concerns in the new year.

(Reporting By Angela Moon; Editing by Kenneth Barry)

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Drone War Spurs Pakistan Militants to Deadly Reprisals

ISLAMABAD, Pakistan — They are dead men talking, and they know it. Gulping nervously, the prisoners stare into the video camera, spilling tales of intrigue, betrayal and paid espionage on behalf of the United States. Some speak in trembling voices, a glint of fear in their eyes. Others look resigned. All plead for their lives.

“I am a spy and I took part in four attacks,” said Sidinkay, a young tribesman who said he was paid $350 to help direct C.I.A. drones to their targets in Pakistan’s tribal belt. Sweat glistened on his forehead; he rocked nervously as he spoke. “Stay away from the Americans,” he said in an imploring voice. “Stay away from their dollars.”

Al Qaeda and the Taliban have few defenses against the American drones that endlessly prowl the skies over the bustling militant hubs of North and South Waziristan in northwestern Pakistan, along the Afghan border. C.I.A. missiles killed at least 246 people in 2012, most of them Islamist militants, according to watchdog groups that monitor the strikes. The dead included Abu Yahya al-Libi, the Qaeda ideologue and deputy leader.

Despite the technological superiority of their enemy, however, the militants do possess one powerful countermeasure.

For several years now, militant enforcers have scoured the tribal belt in search of informers who help the C.I.A. find and kill the spy agency’s jihadist quarry. The militants’ technique — often more witch hunt than investigation — follows a well-established pattern. Accused tribesmen are abducted from homes and workplaces at gunpoint and tortured. A sham religious court hears their case, usually declaring them guilty. Then they are forced to speak into a video camera.

The taped confessions, which are later distributed on CD, vary in style and content. But their endings are the same: execution by hanging, beheading or firing squad.

In Sidinkay’s last moments, the camera shows him standing in a dusty field with three other prisoners, all blindfolded, illuminated by car headlights. A volley of shots rings out, and the three others are mowed down. But Sidinkay, apparently untouched, is left standing. For a tragic instant, the accused spy shuffles about, confused. Then fresh shots ring out and he, too, crumples to the ground.

These macabre recordings offer a glimpse into a little-seen side of the drone war in Waziristan, a paranoid shadow conflict between militants and a faceless American enemy in which ordinary Pakistanis have often become unwitting victims.

Outside the tribal belt, the issue of civilian casualties has dominated the debate about American drones. At least 473 noncombatants have been killed by C.I.A.-directed strikes since 2004, according to monitoring groups — a toll frequently highlighted by critics of the drones like the Pakistani politician Imran Khan. Still, strike accuracy seems to be improving: just seven civilian deaths have been confirmed in 2012, down from 68 the previous year, according to the Bureau of Investigative Journalism, which has been critical of the Obama administration’s drone campaign.

And civilian lives are threatened by militants, too. As the American campaign has cut deeply into the commands of both the Taliban and Al Qaeda, drone-fearing militants have turned to the local community for reprisals, mounting a concerted campaign of fear and intimidation that has claimed dozens of lives and further stressed the already fragile order of tribal society.

The video messages from accused spies are intended to send a stark message, regardless of whether innocents are among those caught up in the deadly dragnet. The confessions are delivered at gunpoint, and usually follow extensive torture, including hanging from hooks for up to a month, human rights groups say.

“In every civilized society, the penalty for spying is death,” said a senior commander with the Pakistani Taliban, speaking on the condition of anonymity from Waziristan.

Although each of myriad militant factions in Waziristan operates its own death squads, by far the most formidable is the Ittehad-e-Mujahedeen Khorasan, a shadowy group that experts consider to be Al Qaeda’s local counterintelligence wing. Since it emerged in 2009, the group, which is led by Arab and Uzbek militants, has carefully cultivated a sinister image through video theatrics and the ruthless application of violence.

Black-clad Khorasan militants, their faces covered in balaclavas, roam across North Waziristan in jeeps with tinted windows. In one video clip from 2011, Khorasan fighters are seen searching traffic under a cluster of palm trees outside Mir Ali, a notorious militant hub. Then they move into the town center, distributing leaflets to shoppers, before executing three men outside a gas station.

“Spies, your days are numbered because we are carrying out raids,” chants the video soundtrack.

Thought to number dozens of militants, the Khorasan cooperates closely with the Afghan warlord Jalaluddin Haqqani, who is based in North Waziristan. A sister organization in Afghanistan has been responsible for 250 assassinations and executions, according to American military intelligence.

Reporting was contributed by Ihsanullah Tipu Mehsud from Islamabad; Ismail Khan from Peshawar, Pakistan; Zia ur-Rehman from Karachi, Pakistan; and Scott Shane and Eric Schmitt from Washington.

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NASA Sets Record with Ion Thrusters Test

NASA has completed a 43,000 hour stress test — a record for ion thrusters — on a new rocket propulsion system that could extend future space travel to farther reaches of the solar system.

Developed by NASA’s Evolutionary Xenon Thruster Project, the 7-kilowatt ion thruster can burn 10-12 times longer than the conventional chemical thrusters used today. Though not practical for manned-spaceflight, the system could power exploratory rockets that reach outer planets and their moons.

[More from Mashable: NASA Unveils E-books on Hubble, Webb Space Telescopes]

To find out more, watch the video above and let us know your thoughts in the comments.

Photo courtesy of NASA

[More from Mashable: First ‘Alien Earth’ Will Be Found in 2013]

BONUS: 15 Twitter Accounts Every Space Lover Should Follow

Sunita Williams

Captain Williams is a NASA astronaut who recently completed the first triathlon in space.

Click here to view this gallery.

This story originally published on Mashable here.

Tech News Headlines – Yahoo! News

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Aloha, Baby! Jessica's Hawaii Holiday

Follow the second-time mom's tropical Christmas vacation – and big pregnancy reveal

Credit: Courtesy of Jessica Simpson

Updated: Saturday Dec 29, 2012 | 06:00 AM EST
By: Brooke Showell

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Kenya hospital imprisons new mothers with no money

NAIROBI, Kenya (AP) — The director of the Pumwani Maternity Hospital, located in a hardscrabble neighborhood of downtown Nairobi, freely acknowledges what he's accused of: detaining mothers who can't pay their bills. Lazarus Omondi says it's the only way he can keep his medical center running.

Two mothers who live in a mud-wall and tin-roof slum a short walk from the maternity hospital, which is affiliated with the Nairobi City Council, told The Associated Press that Pumwani wouldn't let them leave after delivering their babies. The bills the mothers couldn't afford were $60 and $160. Guards would beat mothers with sticks who tried to leave without paying, one of the women said.

Now, a New York-based group has filed a lawsuit on the women's behalf in hopes of forcing Pumwani to stop the practice, a practice Omondi is candid about.

"We hold you and squeeze you until we get what we can get. We must be self-sufficient," Omondi said in an interview in his hospital office. "The hospital must get money to pay electricity, to pay water. We must pay our doctors and our workers."

"They stay there until they pay. They must pay," he said of the 350 mothers who give birth each week on average. "If you don't pay the hospital will collapse."

The Center for Reproductive Rights, which filed the suit this month in the High Court of Kenya, says detaining women for not paying is illegal. Pumwani is associated with the Nairobi City Council, one reason it might be able to get away with such practices, and the patients are among Nairobi's poorest with hardly anyone to stand up for them.

Maimouna Awuor was an impoverished mother of four when she was to give birth to her fifth in October 2010. Like many who live in Nairobi's slums, Awuor performs odd jobs in the hopes of earning enough money to feed her kids that day. Awuor, who is named in the lawsuit, says she had saved $12 and hoped to go to a lower-cost clinic but was turned away and sent to Pumwani. After giving birth, she couldn't pay the $60 bill, and was held with what she believes was about 60 other women and their infants.

"We were sleeping three to a bed, sometimes four," she said. "They abuse you, they call you names," she said of the hospital staff.

She said saw some women tried to flee but they were beaten by the guards and turned back. While her husband worked at a faraway refugee camp, Awuor's 9-year-old daughter took care of her siblings. A friend helped feed them, she said, while the children stayed in the family's 50-square-foot shack, where rent is $18 a month. She says she was released after 20 days after Nairobi's mayor paid her bill. Politicians in Kenya in general are expected to give out money and get a budget to do so.

A second mother named in the lawsuit, Margaret Anyoso, says she was locked up in Pumwani for six days in 2010 because she could not pay her $160 bill. Her pregnancy was complicated by a punctured bladder and heavy bleeding.

"I did not see my child until the sixth day after the surgery. The hospital staff were keeping her away from me and it was only when I caused a scene that they brought her to me," said Anyoso, a vegetable seller and a single mother with five children who makes $5 on a good day.

Anyoso said she didn't have clothes for her child so she wrapped her in a blood-stained blouse. She was released after relatives paid the bill.

One woman says she was detained for nine months and was released only after going on a hunger strike. The Center for Reproductive Rights says other hospitals also detain non-paying patients.

Judy Okal, the acting Africa director for the Center for Reproductive Rights, said her group filed the lawsuit so all Kenyan women, regardless of socio-economic status, are able to receive health care without fear of imprisonment. The hospital, the attorney general, the City Council of Nairobi and two government ministries are named in the suit.

___

Associated Press reporter Tom Odula contributed to this report.

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Obama says failure to reach fiscal deal would hurt markets

WASHINGTON (Reuters) - Financial markets would be affected adversely if U.S. lawmakers fail to agree on a "fiscal cliff" deal before Tuesday, President Barack Obama said in an interview broadcast on Sunday, while urging Congress to act quickly to extend tax cuts for middle-class Americans.

Lawmakers are seeking a last-minute deal that would set aside $600 billion in tax increases and across-the-board government spending cuts that are set to start within days. If Congress does not make that happen, the first bill brought up in the new year would be to reduce taxes for middle-income families, Obama told NBC's "Meet the Press."

"Now I think that over the next 48 hours, my hope is that people recognize that, regardless of partisan differences, our top priority has to be to make sure that taxes on middle-class families do not go up. That would hurt our economy badly," Obama said in the interview taped on Saturday.

"We can get that done. Democrats and Republicans both say they don't want taxes to go up on middle-class families. That's something we all agree on. If we can get that done, that takes a big bite out of the 'fiscal cliff.' It avoids the worst outcomes," Obama added.

Low income tax rates first put in place under Republican former President George W. Bush are due to expire at the end of the day on Monday - the last day of 2012.

Obama said that failing to reach a deal would have a negative impact on financial markets.

"If people start seeing that on January 1st this problem still hasn't been solved, that we haven't seen the kind of deficit reduction that we could have had had the Republicans been willing to take the deal that I gave them ... then obviously that's going to have an adverse reaction in the markets," he said.

RARE SENATE SESSION ON SUNDAY

Obama met with congressional leaders at the White House on Friday and declared himself cautiously optimistic about the chances of an agreement, but he noted in the interview that nothing had materialized since then.

"I was modestly optimistic yesterday, but we don't yet see an agreement. And now the pressure's on Congress to produce," he said.

The Senate is scheduled to hold a rare Sunday session beginning at 1 p.m. EST (1800 GMT), but it was not clear whether the chamber would have fiscal-cliff legislation to act upon.

Obama sketched out what he believed to be the most likely scenarios the end the back-and-forth between both sides. Either the congressional leaders would come up with a deal, or Democrats in the Senate would bring a bill to the floor seeking an up-or-down vote to extend tax cuts for middle income earners.

"And if all else fails, if Republicans do in fact decide to block it, so that taxes on middle class families do in fact go up on January 1st, then we'll come back with a new Congress on January 4th and the first bill that will be introduced on the floor will be to cut taxes on middle class families," he said.

Obama chided Republicans for resisting his call for tax rates to go up for the top two percent of U.S. earners despite what he viewed as significant compromises on his part to cut spending and reform expensive social programs for the poor and elderly.

"They say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest Americans are protected. That seems to be their only overriding, unifying theme," Obama said.

"The offers that I've made to them have been so fair that a lot of Democrats get mad at me. I mean I offered to make some significant changes to our entitlement programs in order to reduce the deficit," he said.

(Reporting by Jeff Mason; Editing by David Brunnstrom)

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India Ink: Delhi Rape Victim's Condition Deteriorates

The Singapore hospital treating the 23-year-old woman who was raped by several men in a moving bus on Dec. 16 in Delhi issued the following statement on Friday:

From Dr. Kevin Loh, chief executive officer, Mount Elizabeth Hospital:

“As of 9pm (Singapore time) on 28 Dec, the patient’s condition has taken a turn for the worse. Her vital signs are deteriorating with signs of severe organ failure. This is despite doctors fighting for her life including putting her on maximum artificial ventilation support, optimal antibiotic doses as well as stimulants which maximise her body’s capability to fight infections.”

“Her family members have been informed that her condition has deteriorated and they are currently by her side to encourage and comfort her.”

“The High Commission of India is with her and her family at this critical time. Our medical team continues to provide all possible treatment and care.”

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Jason Hoppy Wears Wedding Ring After Split from Bethenny Frankel

TV Watch

12/28/2012 at 10:45 AM EST

Jason Hoppy in New York City Dec. 27

Adam Nemser/Startraks

Four days after Jason Hoppy and Bethenny Frankel announced their split, his wedding ring is still in the picture.

Hoppy was photographed at a café in New York City Thursday still wearing the band on his left ring finger

The couple have a 2½-year-old daughter, Bryn.

"It brings me great sadness to say that Jason and I are separating," Frankel, 42, said in a statement Sunday. "This was an extremely difficult decision that as a woman and a mother, I have to accept as the best choice for our family."

Earlier this year, the reality star revealed to PEOPLE that marriage didn't come easily to her.

"You have to fight for everything," she said. "Our core issues are wanting the other person to be somebody they are not."

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Kenya hospital imprisons new mothers with no money

NAIROBI, Kenya (AP) — The director of the Pumwani Maternity Hospital, located in a hardscrabble neighborhood of downtown Nairobi, freely acknowledges what he's accused of: detaining mothers who can't pay their bills. Lazarus Omondi says it's the only way he can keep his medical center running.

Two mothers who live in a mud-wall and tin-roof slum a short walk from the maternity hospital, which is affiliated with the Nairobi City Council, told The Associated Press that Pumwani wouldn't let them leave after delivering their babies. The bills the mothers couldn't afford were $60 and $160. Guards would beat mothers with sticks who tried to leave without paying, one of the women said.

Now, a New York-based group has filed a lawsuit on the women's behalf in hopes of forcing Pumwani to stop the practice, a practice Omondi is candid about.

"We hold you and squeeze you until we get what we can get. We must be self-sufficient," Omondi said in an interview in his hospital office. "The hospital must get money to pay electricity, to pay water. We must pay our doctors and our workers."

"They stay there until they pay. They must pay," he said of the 350 mothers who give birth each week on average. "If you don't pay the hospital will collapse."

The Center for Reproductive Rights, which filed the suit this month in the High Court of Kenya, says detaining women for not paying is illegal. Pumwani is associated with the Nairobi City Council, one reason it might be able to get away with such practices, and the patients are among Nairobi's poorest with hardly anyone to stand up for them.

Maimouna Awuor was an impoverished mother of four when she was to give birth to her fifth in October 2010. Like many who live in Nairobi's slums, Awuor performs odd jobs in the hopes of earning enough money to feed her kids that day. Awuor, who is named in the lawsuit, says she had saved $12 and hoped to go to a lower-cost clinic but was turned away and sent to Pumwani. After giving birth, she couldn't pay the $60 bill, and was held with what she believes was about 60 other women and their infants.

"We were sleeping three to a bed, sometimes four," she said. "They abuse you, they call you names," she said of the hospital staff.

She said saw some women tried to flee but they were beaten by the guards and turned back. While her husband worked at a faraway refugee camp, Awuor's 9-year-old daughter took care of her siblings. A friend helped feed them, she said, while the children stayed in the family's 50-square-foot shack, where rent is $18 a month. She says she was released after 20 days after Nairobi's mayor paid her bill. Politicians in Kenya in general are expected to give out money and get a budget to do so.

A second mother named in the lawsuit, Margaret Anyoso, says she was locked up in Pumwani for six days in 2010 because she could not pay her $160 bill. Her pregnancy was complicated by a punctured bladder and heavy bleeding.

"I did not see my child until the sixth day after the surgery. The hospital staff were keeping her away from me and it was only when I caused a scene that they brought her to me," said Anyoso, a vegetable seller and a single mother with five children who makes $5 on a good day.

Anyoso said she didn't have clothes for her child so she wrapped her in a blood-stained blouse. She was released after relatives paid the bill.

One woman says she was detained for nine months and was released only after going on a hunger strike. The Center for Reproductive Rights says other hospitals also detain non-paying patients.

Judy Okal, the acting Africa director for the Center for Reproductive Rights, said her group filed the lawsuit so all Kenyan women, regardless of socio-economic status, are able to receive health care without fear of imprisonment. The hospital, the attorney general, the City Council of Nairobi and two government ministries are named in the suit.

___

Associated Press reporter Tom Odula contributed to this report.

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Wall Street skids as U.S. heads for "fiscal cliff"

NEW YORK (Reuters) - Stocks fell on Friday, putting the S&P 500 on track for a fifth straight decline, as President Barack Obama and top congressional leaders were to make a last-ditch attempt to steer the United States away from driving off the "fiscal cliff."

Obama and lawmakers will meet at the White House Friday afternoon for talks before a New Year's deadline to keep large tax hikes and spending cuts from taking effect and threatening the economy with recession.

Investors' pessimism about achieving anything more than a stop-gap deal by the deadline showed in the benchmark S&P index's 1.6 percent decline this week. The broad index was on pace for its worst weekly performance since the U.S. elections.

With time running short, members of Congress may attempt to pass a retroactive fix on tax rises and spending cuts soon after the automatic fiscal policies come into effect on January 1.

"It doesn't matter which side wins, but at this point nobody wants to play a game where there aren't rules," said Joe Costigan, director of equity research at Bryn Mawr Trust in Bryn Mawr, Pennsylvania.

"So everybody is talking about what the prospects are for changes in the rules, but at the end of the day nothing is happening."

Highlighting Wall Street's sensitivity to developments in Washington, stocks took a dive of more than 1 percent on Thursday after Senate Majority Leader Harry Reid warned a deal was unlikely before the deadline. But later the index rebounded after the House of Representatives said it hold an unusual Sunday session to work on a fiscal solution.

With many market participants away for the holiday-shortened week, volume is expected to remain light, which could exacerbate market swings.

The Dow Jones industrial average <.dji> dropped 90.70 points, or 0.69 percent, to 13,005.61. The Standard & Poor's 500 Index <.spx> lost 9.74 points, or 0.69 percent, to 1,408.36. The Nasdaq Composite Index <.ixic> fell 16.25 points, or 0.54 percent, to 2,969.66.

Market breadth was skewed to the negative, with declining stocks outnumbering gainers on the NYSE by 2,044 to 690, while on the Nasdaq, decliners outnumbered advancers 1,466 to 707.

Positive economic data failed to alter the market's downtrend.

The National Association of Realtors said contracts to buy previously owned U.S. homes rose in November to their highest level in 2-1/2 years, while a report from the Institute for Supply Management-Chicago showed business activity in the U.S. Midwest expanded in December.

Barnes & Noble Inc rose 8.2 percent to $15.55 after the company said Pearson had agreed to make a strategic investment in its Nook Media subsidiary, but the Nook business will also not meet the bookseller's prior projection for fiscal year 2013.

MagicJack Vocaltec Ltd forecast over $39 million in GAAP revenue and over 70 cents per share in operating income for the fourth quarter and appointed Gerald Vento president and CEO, effective January 1. Shares jumped 6.9 percent to $17.40.

Aeterna Zentaris Inc U.S.-listed shares surged 18.4 percent to $2.57 after the company said it had reached an agreement with the U.S. Food and Drug Administration on a special protocol assessment by the FDA for phase 3 registration trial in endometrial cancer with AEZS-108 treatment.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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