Wall Street starts new year with a bang after "cliff" deal

NEW YORK (Reuters) - Stocks kicked off the new year with their best day in over a year on Wednesday, sparked by relief over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts that threatened to derail the economy's growth.

In 2013's first trading session, the S&P 500 achieved its biggest one-day gain since December 20, 2011, pushing the benchmark index to its highest close since September 14.

Concerns over Washington's ability to sidestep the cliff had driven the S&P 500 down for five straight sessions, before signs that a resolution was near sent the benchmark index higher on the final trading session of 2012.

The CBOE Volatility Index or the VIX <.vix>, Wall Street's favorite gauge of investor anxiety, dropped 18.5 percent to 14.68 at the close. The VIX has fallen 35.4 percent over the past two sessions, the biggest 2-day percentage drop in the history of the index.

The Dow Jones industrial average <.dji> jumped 308.41 points, or 2.35 percent, to 13,412.55 at the close. The Standard & Poor's 500 Index <.spx> gained 36.23 points, or 2.54 percent, to finish at 1,462.42. The Nasdaq Composite Index <.ixic> climbed 92.75 points, or 3.07 percent, to end at 3,112.26.

U.S. markets were closed on Tuesday for New Year's Day.

Market breadth reflected the strong rally, with 10 stocks rising for every one that fell on the New York Stock Exchange. All 10 of the S&P 500 industry sector indexes gained at least 1 percent. The S&P financial index <.gspf> shot up 2.9 percent.

The S&P Information Technology index <.gspt> gained 3.2 percent, including Hewlett-Packard , which climbed 5.4 percent to $15.02. HP's gain followed a miserable 2012 when the stock fell nearly 45 percent as one of the S&P 500's worst performers for 2012.

On Tuesday, Congress passed a bill to prevent huge tax hikes and delay spending cuts that would have pushed the world's largest economy off a "fiscal cliff" and possibly into recession.

The vote avoided steep income-tax increases for a majority of Americans, but failed to resolve a major showdown over cutting the budget deficit, leaving investors and businesses with only limited clarity about the outlook for the economy. Spending cuts of $109 billion in military and domestic programs were temporarily delayed, and another fight over raising the U.S. debt limit also looms.

"We got through the fiscal cliff. The next big thing, and probably more contentious thing, is negotiating the debt ceiling and possibly entitlement reform in early 2013," said Jim Russell, senior equity strategist for U.S. Bank Wealth Management in Cincinnati.

Hard choices about budget cuts and the critical need to raise the debt ceiling will confront Congress about the same time in two months "so the fur will be flying," Russell said.

U.S. stocks ended 2012 with the S&P 500 up 13.4 percent for the year, as investors largely shrugged off worries about the fiscal cliff. For the year, the Dow gained 7.3 percent and the Nasdaq jumped 15.9 percent.

Bank shares rose following news that U.S. regulators are close to securing another multibillion-dollar settlement with the largest banks to resolve allegations that they unlawfully cut corners when foreclosing on delinquent borrowers.

Bank of America Corp rose 3.7 percent to $12.03 and Citigroup Inc gained 4.3 percent to $41.25. The KBW bank index <.bkx> rose 3.2 percent.

Shares of Zipcar Inc surged 47.8 percent to $12.18 after Avis Budget Group Inc said it would buy Zipcar for about $500 million in cash to compete with larger rivals Hertz and Enterprise Holdings Inc. Avis advanced 4.8 percent to $20.77.

Shares of Apple rose 3.2 percent to $549.03, helping to lift the S&P information technology index <.gspt> up 3.2 percent following a report that the most valuable tech company has started testing a new iPhone and a new version of its iOS software.

Economic data from the Institute for Supply Management showed U.S. manufacturing ended 2012 on an upswing despite fears about the fiscal cliff, but the Commerce Department reported that construction spending fell in November for the first time in eight months.

Volume was heavy, with about 7.8 billion shares traded on the New York Stock Exchange, the NYSE MKT and the Nasdaq, well above the 2012 daily average of 6.42 billion.

(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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Mendrisio Journal: In Mendrisio, Switzerland, Gold Can Be Solid and Liquid

MENDRISIO, Switzerland — The Swiss like to think their country is to gold what Bordeaux, France, is to wine. Thanks to a dark red merlot produced in the hills surrounding this town in the south of Switzerland, it has both, the real gold and the wine.

The real gold is here because four of the world’s major gold refineries are on Swiss soil, three of them here in Mendrisio, turning roughly one-third of the world’s gold into bars and ingots. The wine is here because over the past several decades this Italian-speaking region has emerged as the largest wine-growing area in Switzerland, and the local merlot has carved a big place in the Swiss wine market.

Merlot, said Luigi Zanini Jr., 40, whose father began making wine here in the 1980s after importing Italian wines for decades, “is king, queen, prince and all of the nobility.” The company he and his father run, Vinattieri Ticinesi, is now Switzerland’s largest winemaker, producing about 500,000 bottles a year.

If Mr. Zanini deals in bottled gold, across town, at a sprawling factory with gray concrete walls seven feet high, Erhard Oberli handles the real thing, as the chief executive of Argor-Heraeus, a major refiner processing hundreds of tons of gold every year.

Gold refining flourished here, Mr. Oberli said, because of the proximity to Italy, where jewelry is a major industry and labor is cheap. “Italy, traditionally, was by far the biggest consumer of gold, taking about 800 tons a year, half legally and half illegally,” he said. The illegal part has largely been cleaned up, but Italy remains a big customer, as do makers of jewelry and watches in Swiss cities like Geneva.

The price of gold is now hovering at nearly $1,700 an ounce, compared with less than $300 a dozen years ago. That is not a direct benefit to Mr. Oberli, because his company is a processor of gold, not a trader. But the demand for melted-down gold and fresh ingots from raw gold has soared, so he now has a new $32 million enlargement of his factory to go along with the growth in the number of employees, to 229 from 152 five years ago.

Both the gold and the wine are feeding a prosperity here that contrasts sharply with the slump in surrounding regions, most notably northern Italy, long a powerhouse of the European economy.

Mendrisio, with its charming old downtown streets ringed by state-of-the-art factories, embedded in steep valleys ringed with vineyards, has long been a magnet for Italians in search of work. In recent years as Europe’s borders have grown increasingly porous, and Italy suffers the effects of a debt crisis, the numbers have soared.

Every day more than 7,500 Italians clog the roads, making the trek across the border in their Hyundais and Toyotas and the occasional Fiat, coming to jobs in Mendrisio, where the local population is only 11,600. About a decade ago, before Switzerland began joining various European agreements to eliminate border controls, most were unskilled workers in farming or construction, but they are now increasingly skilled people — engineers, chemists, accountants.

Meinrad Perler is the son of a farmer in western, French-speaking Switzerland who went into banking. When that career soured, he turned to his passion, winemaking, settling in Mendrisio in the 1980s. “It’s not the ideal location, too much rain in the wrong seasons, and hot, dry summers,” he said, steering his sport utility vehicle through steep vineyards.

Still, the climate has not prevented Mr. Perler, 75, from building an annual production of 210,000 bottles a year, mostly merlot. Of his 14 full-time employees, 8 are Italians, including his chief oenologist. When he recently advertised for an accountant, 132 letters came in, more than two-thirds from Italians.

“They’ll accept a job that is lower than their qualification,” he said, and for less money.

Over at the Zanini winery, of 72 employees, about half are cross-border Italians. “The tendency is to try and find people from Ticino,” the region Mendrisio lies in, Mr. Zanini said. “But maybe there’s more desire in Italy.”

At Argor-Heraeus, Mr. Oberli badly needs engineers, chemists and metallurgists, and cannot find them locally. “In Italy now it’s a catastrophe, and given the unemployment, you easily find young, well-trained people,” he said, turned out by schools like the Technical University in Milan. About two-thirds of his employees are Italians, who drive back to their homes in Italy when the workday is done.

Of course there are benefits to employing Italians, like lower pay. The Swiss federal statistical office released figures recently showing that while the average disposable income of a Swiss is roughly $55,000, that of cross-border workers like the Italians is about $48,000.

While this gap annoys Swiss employees, who see the foreigners as competitors, employers say the difference is justified. “Taxes are less in Italy than in Switzerland,” said Marco Nauer, 49, a metals expert at Argor-Heraeus who is responsible for hiring. The cost of living is lower in Italy as well, so earnings in Swiss francs go further.

Behind Mendrisio’s neo-Classical town hall, a large parking garage is being built. The dozen or so cars of the construction workers all have Italian plates. “With the crisis in Italy, there just isn’t any work,” said Davide Grassi, 33, a cement mason from Milan who in July began driving the 40 minutes to work here every day.

For some, it is more than money. Last September, Roberta Pellin, who lives in Olgiate Comasco, Italy, a 20-minute drive across the border, opened a little vaulted flower shop along Corso Bello, a pedestrian street in Mendrisio’s old town center, after working for 25 years in the flower business in Italy.

“I evaluated the situation in Italy and decided it’s far easier in Switzerland,” said Ms. Pellin, 44. The Italian bureaucracy is crushing, she said, and the professionalism is greater in Switzerland. Moreover, Swiss laws require stores to close Sundays, unlike in Italy, where they stay open seven days a week.

“I have two kids,” she said. “It’s about quality of life.”

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9 Apps to Fast-Track Your New Years’ Resolutions

Whether your goal in 2013 is to lose five pounds, manage your finances, or spend more time with friends and family, there are a growing number of apps that fall into the self-help category and can assist you in accomplishing these resolutions.

At Mashable we’ve tested a lot of them out, but we’re still always hearing about new ones. There are a ton of fitness and health apps to chose from, but you might be pleasantly surprised to know they’re not all about weight loss. A device and app called Tinke monitors your stress levels and how deeply you’re breathing. An app called Fig will remind you to drink more water, skip fried foods and take breaks at work to keep you feeling good. Arianna Huffington also released an app called, “GPS for the Soul” that focuses on wellbeing.

[More from Mashable: Time Machine App Transports You Back to 2012]

Other apps can help you organize your social life, make new friends or save money for a vacation.

We’ve compiled a list of apps that can help you accomplish all sorts of goals this year. Check it out and let us know if we missed any that you plan on using in 2013.

[More from Mashable: It’s Easy to Save Videos From Facebook Poke Permanently]

OurGroceries

If you’re trying to eat out less and cook at home more often, make sure you always have a current grocery list at your fingertips. Mashable wrote about several grocery list apps this year. The standout seems to be OurGroceries for Android and iOS. If you have roommates or a significant other, everyone can download the app and sync lists. That way if you’re making a quick after-work trip to the grocery store you’ll not only be able to see the items you added, but also see what they’ve added, too.

Click here to view this gallery.

Photo courtesy of iStockphoto, hocus-focus

This story originally published on Mashable here.

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Jessica Simpson and Kendall & Kylie Jenner Make Readers Smile - and Frown

01/01/2013 at 07:00 PM EST

Splash News Online; Michael Simon/Startraks

What's on the minds of PEOPLE readers this week? We love getting your feedback, and as always, you weighed in – even while celebrating during the holidays – with plenty of reactions to all of our stories.

From Kelly Osbourne's dramatic weight loss to Jessica Simpson's happy baby news to the tragic death of hero surfer Dylan Smith in Puerto Rico, readers responded to what made them happy, what made them laugh out loud and what made them sad this week.

Check out the articles with the top reactions on the site this week, and keep clicking on the emoticons at the bottom of every story to tell us what you think!

Kelly Osbourne says loving herself was the key to her 60-lb. weight loss. She had to get to a place where she respected herself enough to take care of her health – and she emerged a fierce style star who is not afraid to rock a bikini.

Jessica Simpson became a new mom just 8 months ago – so the news that she's expecting baby No. 2 with fiancé Eric Johnson made readers say, "Wow!"

Reality stars Kendall and Kylie Jenner showed off expensive Christmas gifts on Instagram, and their pricey public display turned many readers off. From a pair of Louboutin spike heels to Balenciaga boots with a more than $1,000 price tag, the teens cleaned up with lavish presents that most could only dream about.

Dylan Smith captured our hearts with his heroic efforts during Superstorm Sandy, saving six people on his surfboard. But the Queens, N.Y., lifeguard, 23, who was named one of PEOPLE's Heroes of the Year, drowned on Dec. 24 in a surfing accident off Puerto Rico.

Does the idea of Tom Cruise dating a new woman make you laugh? Maybe. A story that falsely linked the actor romantically to a 26-year-old restaurant manager, had readers clicking LOL. Or maybe the funny part was this quote from a source, who told told PEOPLE: "He's single and will be talking to women – all of whom he won't be instantly dating."

Check back next week for another must-read roundup, and see what readers are reacting to every day here.

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Brain image study: Fructose may spur overeating

This is your brain on sugar — for real. Scientists have used imaging tests to show for the first time that fructose, a sugar that saturates the American diet, can trigger brain changes that may lead to overeating.

After drinking a fructose beverage, the brain doesn't register the feeling of being full as it does when simple glucose is consumed, researchers found.

It's a small study and does not prove that fructose or its relative, high-fructose corn syrup, can cause obesity, but experts say it adds evidence they may play a role. These sugars often are added to processed foods and beverages, and consumption has risen dramatically since the 1970s along with obesity. A third of U.S. children and teens and more than two-thirds of adults are obese or overweight.

All sugars are not equal — even though they contain the same amount of calories — because they are metabolized differently in the body. Table sugar is sucrose, which is half fructose, half glucose. High-fructose corn syrup is 55 percent fructose and 45 percent glucose. Some nutrition experts say this sweetener may pose special risks, but others and the industry reject that claim. And doctors say we eat too much sugar in all forms.

For the study, scientists used magnetic resonance imaging, or MRI, scans to track blood flow in the brain in 20 young, normal-weight people before and after they had drinks containing glucose or fructose in two sessions several weeks apart.

Scans showed that drinking glucose "turns off or suppresses the activity of areas of the brain that are critical for reward and desire for food," said one study leader, Yale University endocrinologist Dr. Robert Sherwin. With fructose, "we don't see those changes," he said. "As a result, the desire to eat continues — it isn't turned off."

What's convincing, said Dr. Jonathan Purnell, an endocrinologist at Oregon Health & Science University, is that the imaging results mirrored how hungry the people said they felt, as well as what earlier studies found in animals.

"It implies that fructose, at least with regards to promoting food intake and weight gain, is a bad actor compared to glucose," said Purnell. He wrote a commentary that appears with the federally funded study in Wednesday's Journal of the American Medical Association.

Researchers now are testing obese people to see if they react the same way to fructose and glucose as the normal-weight people in this study did.

What to do? Cook more at home and limit processed foods containing fructose and high-fructose corn syrup, Purnell suggested. "Try to avoid the sugar-sweetened beverages. It doesn't mean you can't ever have them," but control their size and how often they are consumed, he said.

A second study in the journal suggests that only severe obesity carries a high death risk — and that a few extra pounds might even provide a survival advantage. However, independent experts say the methods are too flawed to make those claims.

The study comes from a federal researcher who drew controversy in 2005 with a report that found thin and normal-weight people had a slightly higher risk of death than those who were overweight. Many experts criticized that work, saying the researcher — Katherine Flegal of the Centers for Disease Control and Prevention — painted a misleading picture by including smokers and people with health problems ranging from cancer to heart disease. Those people tend to weigh less and therefore make pudgy people look healthy by comparison.

Flegal's new analysis bolsters her original one, by assessing nearly 100 other studies covering almost 2.9 million people around the world. She again concludes that very obese people had the highest risk of death but that overweight people had a 6 percent lower mortality rate than thinner people. She also concludes that mildly obese people had a death risk similar to that of normal-weight people.

Critics again have focused on her methods. This time, she included people too thin to fit what some consider to be normal weight, which could have taken in people emaciated by cancer or other diseases, as well as smokers with elevated risks of heart disease and cancer.

"Some portion of those thin people are actually sick, and sick people tend to die sooner," said Donald Berry, a biostatistician at the University of Texas MD Anderson Cancer Center in Houston.

The problems created by the study's inclusion of smokers and people with pre-existing illness "cannot be ignored," said Susan Gapstur, vice president of epidemiology for the American Cancer Society.

A third critic, Dr. Walter Willett of the Harvard School of Public Health, was blunter: "This is an even greater pile of rubbish" than the 2005 study, he said. Willett and others have done research since the 2005 study that found higher death risks from being overweight or obese.

Flegal defended her work. She noted that she used standard categories for weight classes. She said statistical adjustments were made for smokers, who were included to give a more real-world sample. She also said study participants were not in hospitals or hospices, making it unlikely that large numbers of sick people skewed the results.

"We still have to learn about obesity, including how best to measure it," Flegal's boss, CDC Director Dr. Thomas Frieden, said in a written statement. "However, it's clear that being obese is not healthy - it increases the risk of diabetes, heart disease, cancer, and many other health problems. Small, sustainable increases in physical activity and improvements in nutrition can lead to significant health improvements."

___

Online:

Obesity info: http://www.cdc.gov/obesity/data/trends.html

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

Mike Stobbe can be followed at http://twitter.com/MikeStobbe

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Asia holds breath as U.S. fiscal talks go to the wire

SYDNEY (Reuters) - Markets were eerily quiet in Asia as trade resumed on Wednesday with investors anxiously waiting to see if the U.S. Congress could strike a last-minute deal to avoid triggering tax rises and spending cuts that could threaten the global economy.

The U.S. Senate early on Tuesday passed a bill that aims to avoid the "fiscal cliff" of $600 billion in automatic spending cuts and tax increases.

However, the package immediately ran into opposition from House Republicans, who were meeting to decide whether to reject or amend the bill .

"Frankly, we don't know what to make of it all. It's like a circus there," said one exasperated forex dealer at an Australian bank in Sydney.

"The markets have always assumed they would eventually strike a deal that would avoid the worst affects of the fiscal cliff, but it's getting harder and harder to stay optimistic."

He suspected equity markets would be on the defensive as they opened, with safe-haven bonds in demand. Getting a read on trends was tricky as U.S. Treasuries and stock futures were yet to trade, while Tokyo was off on holiday.

Currencies were trading, but the only major move was further weakness in the Japanese yen as investors wagered the Bank of Japan would have to take ever more aggressive easing steps to support the economy and satisfy the new government.

The dollar held firm on the yen at 86.75 yen, having touched its highest level since August 2010. The Japanese currency also dropped to depths not seen in over four years against the Australian and New Zealand dollars.

The euro was a shade firmer against the U.S. dollar at $1.3216, but turnover was extremely thin.

Spot gold was little changed at $1,674 an ounce, while oil futures dipped 20 cents to $91.62.

(Reporting by Wayne Cole; Editing by Eric Meijer)

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Clashes in West Bank Injure Palestinians

JERUSALEM — Violent clashes broke out on Tuesday between Israeli soldiers and Palestinians in a village in the northern West Bank, leaving up to 30 Palestinians injured, after an undercover Israeli force entered the village to arrest a wanted militant, according to Palestinian news reports and the Israeli military.

The military said two soldiers had been wounded, neither seriously, by rocks thrown by Palestinians. A spokeswoman for the Israeli military, who spoke on the condition of anonymity under army rules, said the purpose of Tuesday’s raid on the village, Tamoun, was to arrest a resident, Murad Bani Odeh, who she said was suspected of being a terrorist. Both the military and Palestinian reports identified Mr. Odeh, who was captured by the Israeli forces, as a member of Islamic Jihad, an extremist organization.

In the raid, an undercover force, reportedly disguised as vegetable merchants, entered the village first. When youths started throwing stones and a riot broke out, regular forces came in and dispersed the crowd with rubber-coated bullets and tear gas.

The military spokeswoman denied Palestinian reports that the soldiers had also used live fire.

The confrontation was the latest manifestation of the simmering unrest and disturbances that have spread across the West Bank since mid-November, when Israel embarked on a fierce eight-day military campaign against the rocket-launching infrastructure in the Gaza Strip, controlled by the militant group Hamas.

It also comes after years of stagnation in the Israeli-Palestinian peace process, an issue that has re-emerged in recent days as an Israeli election issue, with Israelis scheduled to go to the polls on Jan. 22.

The fate of the West Bank, Gaza and East Jerusalem — territories that the Palestinians claim for a future state — is always a core, if sometimes underlying, issue for Israeli voters. Until now, the leaders of the two largest political forces, the rightist Likud-Beiteinu joint ticket and the center-left Labor Party, had mostly avoided the subject, aware of public fatigue and skepticism about the prospects of a peace deal and preferring to refocus the debate onto security and socioeconomic issues.

But the president of Israel, Shimon Peres, a veteran politician who is now supposed to stay out of politics and play a mostly symbolic role, intervened in the election campaign on Sunday, telling a large group of visiting Israeli ambassadors that he considered the president of the West Bank-based Palestinian Authority, Mahmoud Abbas, to be a partner for peace.

“No one will change my opinion about Abu Mazen,” he said in broadcast remarks, referring to Mr. Abbas by his popular name, “even if they say I cannot express it because I’m the president.”

Israel, he added, “must complete the task of reaching a peace agreement with the Palestinians without further delay.”

The remarks infuriated Likud-Beiteinu, which issued a sharp statement condemning Mr. Peres for expressing what it called a “personal political opinion that is disconnected from the Israeli public’s stance regarding Abu Mazen, the peace refusenik.”

Prime Minister Benjamin Netanyahu, the leader of Likud-Beiteinu, who has endorsed a two-state solution under certain conditions, responded on Tuesday with a statement that called for extreme caution and an Israeli foot on the brakes.

“In Egypt the regime has been replaced, in Syria the regime is being shaken and this could also happen in the Palestinian Authority areas in Judea and Samaria,” Mr. Netanyahu said, referring to the West Bank by its biblical names.

“Everyone knows that Hamas could take over the Palestinian Authority,” he continued. “It could happen after an agreement; it could happen before an agreement, like it happened in Gaza. Therefore, as opposed to the voices that I have heard recently urging me to run forward, to make concessions and to withdraw, I think that the diplomatic process must be managed responsibly and sagaciously and not in undue haste.”

There has been a palpable rise in episodes of stone-throwing and firebombing by Palestinians against Israeli vehicles on West Bank roads, and an increase in localized clashes between Palestinian demonstrators and soldiers, according to Israeli officials.

On Monday night, the military said, an Israeli bus carrying civilians south of Hebron was shot at. There were no injuries.

The spike in unrest comes after four years of relative stability in the West Bank, and it has led some Israeli commentators to speculate about the chances of a third Palestinian intifada, or uprising.

Israeli and Palestinian officials say privately that they have no evidence of plans for a full-blown uprising, though nobody could rule out a spontaneous outburst set off by something unforeseen. Mr. Abbas has stated publicly that he will not support an armed uprising on his watch.

In the meantime, the Israeli military says it has been trying to balance proactive counterterrorism measures — like widespread arrests of militants belonging to Hamas and other armed groups — with a policy of restraint when faced with rioters, to try to prevent Palestinian fatalities and a subsequent spiral of violence.

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Ban on demanding Facebook passwords among new 2013 state laws

CHICAGO (Reuters) – Employers in California and Illinois will be prohibited from demanding access to workers’ password-protected social networking accounts and teachers in Oregon will be required to report suspected student bullies thanks to new laws taking effect in 2013.

In all, more than 400 measures were enacted at the state level during 2012 and will become law in the new year, according to the National Conference of State Legislatures (NCSL).

Some of the statutes, which deal with everything from consumer protection to gun control and healthcare, take effect at the stroke of midnight. Others will not kick in until later in the year.

The raft of measures includes a new abortion restriction in New Hampshire, public-employee pension reform in California and Alabama, same-sex marriage in Maryland, and a requirement that private insurers in Alaska cover autism in kids and young adults, NCSL said.

In New Hampshire, a rarely used form of late-term abortion will become illegal except to save the life of the mother – and even then only if two doctors from separate hospitals certify the procedure is medically necessary.

John Lynch, the state’s outgoing Democratic governor, had vetoed the measure, saying it would threaten the lives of women in rural areas. But the state’s Republican-controlled legislature later overrode him.

In California and Illinois, laws that take effect at 12:01 a.m. local time will make it illegal for bosses to request social networking passwords or non-public online account information from their employees or job applicants.

Michigan’s Republican Governor Rick Snyder signed a similar measure into law earlier this month that took effect immediately. The Michigan law also penalizes educational institutions for dismissing or failing to admit a student who does not provide passwords and other account information used to access private internet and email accounts, including social networks like Facebook and Twitter.

But workers and job seekers in all three states will still need to be careful what they post online: Employers may continue to use publicly available social networking information. So inappropriate pictures, tweets and other social media indiscretions can still come back to haunt them.

Gun violence – in places where it’s all too common, such as Chicago, and in places where it’s unexpected, such as Sandy Hook Elementary School in Newtown, Connecticut – was big news in 2012. But only a handful of new state firearms laws are set to take effect in 2013.

In Michigan, the definition of a “pistol” under the law will now include any firearm less than 26 inches in length. The new definition encompasses some rifles with folding stocks and will make the weapons subject to the same restrictions as pistols.

In Illinois, certain guns currently regulated by state law, including paintball guns, will be excluded from the definition of a firearm and participants in military re-enactments will be exempt from some weapons laws.

Another big story in 2012 was the effort by lawmakers in a number of cash-strapped states to put their public employee pension funds on a sounder financial footing.

In California and Alabama, reforms designed to begin to address the unfunded liabilities of those retirement systems will take effect in 2013.

Among the other new laws on the books in 2013:

* In California, prison workers and peace officers will now be prohibited from having sex with inmates and prisoners in transport.

* In Illinois, sex offenders will be prohibited from distributing candy on Halloween, or playing Santa or the Easter Bunny.

* In Oregon, employers won’t be allowed to advertise a job vacancy if they won’t consider applicants who are currently out of work.

* In Kentucky, residents will be prohibited from releasing feral or wild hogs back into the wild and Illinois will ban the possession and sale of shark fins.

* And in Florida, the term “motor vehicle” will no longer apply to the specialized all-terrain vehicles with over-sized tires known as “swamp buggies” that are popular in some parts of the state.

(Reporting by James B. Kelleher; Editing by Greg McCune and Nick Zieminski)

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Eric Prydz Picks a New Year's Eve Playlist

By Dahvi Shira

12/31/2012 at 06:50 PM EST

Unfortunately not everyone can be in Las Vegas when the ball drops this year, but Eric Prydz is bringing the party to PEOPLE.com readers in advance.

The DJ and producer, 36 – best known for his 2004 hit single, "Call on Me" – is playing a three-hour extended set at Surrender Nightclub on Monday, and he's sharing the tracks he's most excited to spin, including songs from his album, Eric Prydz Presents Pryda.

"I love to play on New Year's Eve because it has that special tension in the air," Prydz says. "People are so excited about the new year coming, leaving the old behind and starting fresh. It's also the perfect excuse to blow off some steam after that long Christmas with family. Let's make New Year's Eve 2013 one to remember!"

Recently scoring a Grammy nomination for his remix of M83's "Midnight City," Prydz, who is relocating to Los Angeles, already predicts 2013 "is going to be an amazing year."

As for his evening playlist, he plans to "blend a lot of the highlights from the past year with classics and brand new music set to blow up in 2013."

Check out part of his planned set below:

• Jeremy Olander – "Let Me Feel"
"This tune has spring/summer of 2013 written all over it. It's such a feel good track!"
Listen here

• Fehrplay – "I Can't Stop It"
"Fehrplay had a great year in 2012 and is set to blow up in 2013. This is his forthcoming single on my Pryda Friends imprint. The first time I heard this record, it took me somewhere really nice."
Listen here

• Rone – "Parade (Dominik Eulberg Remix)"
"Every now and then there is a track that comes along and blows your mind. This is one of those tracks. Nine minutes of pure emotion."
Listen here

• Eric Prydz – "Every Day"
"This one has been huge for me this summer and fall. Enough said."
Listen here

• Pachanga Boys – "Time"
"This was the soundtrack of my summer 2012. And I'm sure I'm not alone on that one."
Listen here

• Para One – "When the Night (Breakbot Remix)"
"I've been a fan of Para One's music for many years and this one is no exception. This song has a great retro vibe with a modern touch from Breakbot on this remix."
Listen here

• Pig & Dan – "Savage"
"This is a real club stomper. I can't wait to play this one out."
Listen here

• Pryda – "The End"
"I had to throw this one in. It's one of the biggest releases on Pryda to date."
Listen here

• Green Velvet & Harvard Bass – "Lazer Beams"
"Hit me with those laser beams!"
Listen here.

• Deetron feat. Hercules & Love Affair – "Crave (Deetron cRAVE Dub)"
"This song is a dark, big room destroyer."
Listen here

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Clinton's blood clot an uncommon complication

The kind of blood clot in the skull that doctors say Hillary Rodham Clinton has is relatively uncommon but can occur after an injury like the fall and concussion the secretary of state was diagnosed with earlier this month.

Doctors said Monday that an MRI scan revealed a clot in a vein in the space between the brain and the skull behind Clinton's right ear.

The clot did not lead to a stroke or neurological damage and is being treated with blood thinners, and she will be released once the proper dose is worked out, her doctors said in a statement.

Clinton has been at New York-Presbyterian Hospital since Sunday, when the clot was diagnosed during what the doctors called a routine follow-up exam. At the time, her spokesman would not say where the clot was located, leading to speculation it was another leg clot like the one she suffered behind her right knee in 1998.

Clinton had been diagnosed with a concussion Dec. 13 after a fall in her home that was blamed on a stomach virus that left her weak and dehydrated.

The type of clot she developed, a sinus venous thrombosis, "certainly isn't the most common thing to happen after a concussion" and is one of the few types of blood clots in the skull or head that are treated with blood thinners, said neurologist Dr. Larry Goldstein. He is director of Duke University's stroke center and has no role in Clinton's care or personal knowledge of it.

The area where Clinton's clot developed is "a drainage channel, the equivalent of a big vein inside the skull — it's how the blood gets back to the heart," Goldstein explained.

It should have no long-term consequences if her doctors are saying she has suffered no neurological damage from it, he said.

Dr. Joseph Broderick, chairman of neurology at the University of Cincinnati College of Medicine, also called Clinton's problem "relatively uncommon" after a concussion.

He and Goldstein said the problem often is overdiagnosed. They said scans often show these large "draining pipes" on either side of the head are different sizes, which can mean blood has pooled or can be merely an anatomical difference.

"I'm sure she's got the best doctors in the world looking at her," and if they are saying she has no neurological damage, "I would think it would be a pretty optimistic long-term outcome," Broderick said.

A review article in the New England Journal of Medicine in 2005 describes the condition, which more often occurs in newborns or young people but can occur after a head injury. With modern treatment, more than 80 percent have a good neurologic outcome, the report says.

In the statement, Clinton's doctors said she "is making excellent progress and we are confident she will make a full recovery. She is in good spirits, engaging with her doctors, her family, and her staff."

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Online:

Medical journal: http://dura.stanford.edu/Articles/Stam_NEJM05.pdf

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