Spanish newspaper sorry for “false photo” of Venezuela’s Chavez

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MADRID/CARACAS (Reuters) – Spain‘s influential El Pais newspaper apologized on Thursday for splashing a “false photo” of Venezuela‘s cancer-stricken leader Hugo Chavez on its front page, prompting a furious response from the government in Caracas, which vowed to take legal action.


Within minutes of posting the image online as a global exclusive, El Pais said it had discovered from social media that the photo was not of Chavez. It removed it from its website and withdrew its print edition.






Venezuela’s government said the publication of the photo – which showed the head of a man lying down with a breathing tube in his mouth – was “grotesque,” while Argentinian President Cristina Fernandez, a close ally of Chavez, called it vile.


“El Pais apologizes to its readers for the damage caused. The newspaper has opened an investigation to determine the circumstances of what happened and the errors that were committed in the verification of the photo,” the paper said.


Chavez, 58, is fighting to recover in Cuba after undergoing his fourth cancer operation in just 18 months. He has not spoken or appeared in public for six weeks, fuelling speculation about how serious his condition is.


El Pais, one of the world’s biggest Spanish-language publications and an institution both in Spain and in Latin America, said it received the grainy image from the agency Gtres Online, which it said represents 60 other agencies in Spain.


In a statement, El Pais said the newspaper was told it had been taken seven days earlier by a Cuban nurse who was part of Chavez’s medical team, and was then sent to the nurse’s sister, who lives in Spain.


“The agency has acknowledged it was deceived by those who provided the material and will take legal action,” El Pais said.


The photo was on the newspaper’s website for half an hour and also appeared in early editions of the print version that were then pulled from newsstands and replaced with a new edition with a different front page.


In Venezuela, anxious Chavez supporters and opponents alike are waiting for any new picture, video or audio message from the socialist leader, who is famed for filling the airwaves with long-winded speeches, jokes and withering jabs at his foes.


NO SIGHT OF CHAVEZ


Officials say his condition is improving after he suffered multiple complications, including unexpected bleeding and a severe respiratory problem following the December 11 surgery.


But, in contrast to Chavez’s previous visits to Havana, officials have not published any evidence of his condition. In 2011, with great fanfare, they broadcast video footage of him reading a newspaper, walking in a garden, and chatting with his friend and mentor, Cuba’s ex-leader Fidel Castro.


In the absence of such proof this time, many Venezuelans are questioning the terse official bulletins and suspect Chavez’s extraordinary 14 years in power could be coming to an end.


The president has never said exactly what type of cancer he has, only that the initial tumor found in mid-2011 was in his pelvic area and was the size of a baseball.


Venezuelan opposition leaders have long accused the government of secrecy over his illness, while supporters accuse “bourgeois” local and foreign media of being in league with the opposition to spread rumors he is at death’s door.


The handling of information relating to Chavez’s health has become as contentious as the man himself, and his administration’s updates have been confusing and contradictory.


The government says it has never been more transparent. It described El Pais’s publication of the picture – a screengrab from an unrelated 2008 video – as part of efforts by far-right political forces to attack Chavez’s self-styled revolution.


It said it would take appropriate legal action, and that the newspaper’s apology to its readers was not enough.


“Neither their disgusting photos nor their systematic campaigns will stop the president’s advance,” Information Minister Ernesto Villegas told a news conference in Caracas.


“Would El Pais publish a similar photo of a European leader? Of its director? Sensationalism is valid if the victim is a revolutionary ‘sudaca’,” he added, using a pejorative term that is sometimes used in Spain to refer to Latin Americans.


(Editing by Eric Walsh)


(This story was refiled to correct the spelling of Venezuela in the headline)


Internet News Headlines – Yahoo! News





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Katy Perry Sparkles at Gambling Night in West Hollywood

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01/25/2013 at 06:50 PM EST



Katy Perry gambled the night away a The London West Hollywood hotel on Thursday evening – but it was all in good fun.

The pop star, 28, wearing a form fitting black Cavalli dress with sparkly purple accents – joked with fellow guests and table dealers on the rooftop as she played her way through several games of Blackjack and craps.

"I created the Popchips bag and I wanted [my dress] to fit with the bag," she told PEOPLE as she celebrated the launch of her new flavor: Katy's Kettle Corn. "That's kind of what I do! I always want to add more sparkles to everything I do."

– Melody Chiu


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CDC: Flu seems to level off except in the West

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New government figures show that flu cases seem to be leveling off nationwide. Flu activity is declining in most regions although still rising in the West.


The Centers for Disease Control and Prevention says hospitalizations and deaths spiked again last week, especially among the elderly. The CDC says quick treatment with antiviral medicines is important, in particular for the very young or old. The season's first flu case resistant to treatment with Tamiflu was reported Friday.


Eight more children have died from the flu, bringing this season's total pediatric deaths to 37. About 100 children die in an average flu season.


There is still vaccine available although it may be hard to find. The CDC has a website that can help.


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CDC: http://www.cdc.gov/flu/


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Wall Street Week Ahead: Bears hibernate as stocks near record highs

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NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.


Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.


The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.


The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.


"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."


The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.


The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.


That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.


MUTUAL FUND INVESTORS COME BACK


All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.


Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.


More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.


"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.


The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.


Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.


"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.


The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.


JOBS DATA MAY TEST THE RALLY


In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.


Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.


The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.


"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."


A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .


On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.


Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.


"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."


For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.


(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



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The Lede Blog: Street-Level Views of Protests in Cairo to Mark Two Years of Revolution

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Thousands of protesters remained in Cairo’s Tahrir Square late Friday despite thick clouds of tear gas, after a day of nationwide demonstrations on the second anniversary of the revolution that toppled President Hosni Mubarak.

Late Friday, Bel Trew, a correspondent for the English-language news site Ahram Online, reported on Twitter that the police fired yet another volley of tear gas at the protesters in Tahrir Square.

Gas was also fired at demonstrators near the presidential palace after dark, according to a video report from El Watan, an Egyptian news site.

Video from an Egyptian news site showed tear gas being fired at demonstrators near the presidential palace in Cairo on Friday night.

Earlier in the day, as marches from around the city converged on Tahrir Square, activists, bloggers and journalists shared street-level views of the protests as they unfolded, posting text updates, photographs and video on social networks.

As one march made its way to Tahrir, a skirmish broke out after some in the crowd reportedly attacked the headquarters of the Muslim Brotherhood’s Web site, Ikhwan Online, and then tried to block firefighters from going to extinguish a blaze.

According to the journalist and blogger Sarah El Sirgany, witnesses said that masked anarchists, calling themselves the Black Block, initiated the fighting with an attack on the Islamist Web site’s office. During the attack, a vendor’s stand was set on fire, which led to a confused round of fighting between a group of vendors and some protesters, who were under the mistaken impression that they were battling members of the Brotherhood.

When activists from that march finally reached Tahrir, they came across a running street battle between protesters and the police across a concrete barrier blocking one entrance to the square.

That battle, on Qasr al-Aini Street, had begun Thursday evening, when protesters pulled down the barrier, only to see it rebuilt by soldiers. Some of the fighting Friday was caught on video by Simon Hanna for Ahram Online. Mr. Hanna’s report features an interview with one of the protesters, a young man who held an empty tear-gas canister in his hand as he explained that his family intended to stay in Tahrir Square until they get justice for his brother, who was killed there while demonstrating on Jan. 25, 2011.

As Priyanka Motaparthy, a researcher for Human Rights Watch, pointed out, an edit of video shot from the other side of the barrier uploaded to the Interior Ministry’s own YouTube channel portrayed the clash in a very different way, suggesting that the police officers there were victims of aggression from thuggish young men.

Video of a clash in Cairo on Friday, posted online by the interior ministry.

While there was some optimism among opposition activists that the spirit of the revolution lived on, there was also disappointment that a persistent problem, the sexual harassment of female protesters, was also in evidence on Friday.

Despite the efforts of volunteers from Tahrir Bodyguard and OpAnti-SH, who work to protect female protesters against sexual harassment in the square, several activists and journalists reported either being attacked or witnessing assaults on women by groups of men as night drew in.

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Nintendo Reaches into Wii U Grab Bag, Pulls Out Some Vague, Some Fascinating Promises

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It’s been a ho-hum 2013 for Nintendo’s Wii U so far: some carry-over posturing about scads of “launch window” titles, but less than a handful of games with bankable release dates. When I checked the hopper for January, February and March, I counted four, maybe five Wii U titles with firm dates, all of them least a month or two off.


That’s not how you move systems, and Nintendo ran damage control Wednesday morning by trotting out company president Satoru Iwata in a broad-ranging (and reaching) “Wii U Direct” video effort to soothe jittery system owners and would-be buyers still waiting for slam dunks. Call it Nintendo circling its wagons…or maybe just an “if you squint you can make it out on the horizon” wagon-train parade.






(MORE: Mostly Piano, Not Pretender: Yamaha’s AvantGrand N2 a Year Later)


“In past Nintendo dialogues, we have focused more on games releasing in the near future, but it’s still early in 2013, so I’d like to change the format a little bit,” said Iwata before launching into a sneak preview of what Nintendo has cooking.


For starters, Iwata says the Wii U will see at least two major system updates this year: one in the spring, another during the summer. Arguably the most important of these involves a desperately needed fix for the crazy-long time it takes to launch apps or reload the Wii U Menu — a process that can take up to 30 seconds. Imagine if each time you backed out of an iOS app it took half a minute to bring up iOS’s icon overlay. That’d be insane, and it’s a shame quality control didn’t view load times as prohibitive enough to remedy before the launch in November. Thank goodness Nintendo’s working to put things right.


Iwata also mentioned finally debuting the long-awaited Wii U Virtual Console – Nintendo’s vehicle to sell old-school NES and Super NES games – just after the spring system update. The Virtual Console’s been missing in action since the Wii U launched, despite its longstanding availability on the original Wii. That, according to Iwata, is because Wii U Virtual Console games are poised to offer features their Wii counterparts didn’t, like being able to save backups of your game progress, the option to play away from the TV on the Wii U GamePad, access to Miiverse communities for these older games and support for additional platforms like the Game Boy Advance (never released on the Wii Virtual Console).


If you’ve already purchased the Wii Virtual Console version of a game, it sounds like you’ll have to pay again, though Nintendo says you’ll get “special pricing”: regularly priced games will run $ 5 to $ 6 (NES) or $ 8 to $ 9 (SNES), with those prices dropping to $ 1 and $ 1.50, respectively, if you bought the game for Wii Virtual Console. It’s better than no discount, I suppose, and Nintendo can probably justify the nominal buck to buck-and-a-half for research and development on the Wii U Virtual Console’s extras (it’s certainly taking the company long enough to pull everything together).


If you’d rather not wait for spring, Nintendo’s running a beta dubbed “Wii U Virtual Console Trial Campaign”: Between January and July, Nintendo will release a classic title every 30 days for $ 0.30 a pop (Nintendo’s tied the pricing and release timeframes in with the original Famicom‘s 30th anniversary in Japan, coming up this July). After July, the prices of the discounted titles will bounce back to normal, but you’ll be able to buy them at the reduced price if you participated in the beta. The games list is none too shabby, either: Balloon Fight, F-Zero, Punch-Out!!, Kirby’s Adventure, Super Metroid, Yoshi and Donkey Kong.


Wii U Virtual Console sounds like a clever little diversion for Nintendo wonks, but let’s not forget how fuzzy these games look nowadays on resolution-locked flat-screens. It’s not that I want high-res versions — these things are what they are at their native pixel counts — but you wouldn’t lay wax paper over a Monet, would you?


(MORE: A Helpful Reminder That Rumors Are Not Facts)


Let’s cut to the chase: Nintendo fans want to know where the next Zelda game is, what comes after Super Mario Galaxy 2, when they’ll be able to sample the Wii U’s take on Mario Kart, what’s up with the next Super Smash Bros. game and so forth.


Iwata confirmed that Nintendo won’t offer new games in January or February and apologized for this, but said “Nintendo takes seriously its responsibility to offer a steady stream of new titles in the very early days of a new platform to establish a good lineup of software.” Why the delay? Because, says Iwata, “We firmly believe we have to offer quality experiences when we release new titles.” No argument there.


What’s coming between spring and summer? Iwata identified several titles: Game & Wario, Wii Fit U, Pikmin 3, LEGO City Undercover and The Wonderful 101. But don’t get too excited: These were originally slated to hit by March.


We also caught another glimpse of Bayonetta 2 (as well as the female protagonist’s backside), heard a bit about Super Smash Bros. U and why it’ll probably be a while before we see it (screens at E3), and then Iwata talked about, well, a bunch of stuff we already knew was in the offing: a new unnamed Super Mario game by the team that developed the Super Mario Galaxy and Super Mario 3D Land platformers, a new Mario Kart racer (both set to be playable at E3) and a new Wii Party game (Iwata showed video of someone shaking a Wii U GamePad to roll dice as well as two players using a GamePad like a mini-foosball table).


More intriguing were the two unannounced new games, like one from the developers behind Kirby’s Epic Yarn starring Yoshi (a kind of sequel to Yoshi’s Story for the Nintendo 64) or — wait for it JRPG wonks — a Shin Megami Tensei / Fire Emblem crossover from Atlus.


Last but not least, Iwata revealed the company’s plans for Zelda on the Wii U. The really good news: Nintendo says it’s planning to “rethink the conventions of Zelda,” tinkering with tenets like dungeon linearity and solo play. The merely good news: Nintendo’s remastering Zelda: The Wind Waker in HD for the system and tweaking the gameplay. The bad-good news: You’ll probably have to wait a long time for the new Zelda, but you’ll get The Wind Waker HD by “this fall.”


But the best news of all, from where I’m sitting: Taking a page from Apple, Iwata closed by invoking “one more important topic”: a new Wii U game from Monolith Soft, the company responsible for Xenoblade Chronicles, the best roleplaying game on any game system released in…well, when was Final Fantasy XII released? Has it been seven years already?


All told, a mixed performance from Nintendo, but here’s the thing: However vague much of the information in Iwata’s presentation was, I love the dignified, spare, wonderfully thorough way Nintendo’s chosen to address its audience lately. By contrast, I feel like a need to shower after watching most Microsoft/Sony pressers.


MORE: Sony Xperia Tablet Z Aims for ‘World’s Thinnest’ Crown


Gaming News Headlines – Yahoo! News




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Baby Born with Heart Outside Her Chest Goes Home from Hospital

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By Dahvi Shira





01/24/2013 at 06:40 PM EST







Ashley and Audrina Cardenas



Three-month-old Audrina Cardenas is a survivor.

The infant, delivered on Oct. 15 with a rare genetic deformity called "ectopia cordis," was born with part of her heart outside of her body. Following a successful surgery in November, Cardenas finally left the hospital on Wednesday.

At the time of her procedure, the Texas Children's Hospital in Houston released a statement explaining, "A multidisciplinary team of surgeons saved Audrina's life during a miraculous six-hour, open-heart surgery where they reconstructed her chest cavity to make space for the one-third of her heart that was outside of her body."

Cardenas's mother Ashley told ABCNews.com that she knew about her daughter's condition when she was 16 weeks pregnant.

"They gave me the option to terminate the pregnancy [or] continue with the pregnancy and do something called comfort care at the time of delivery, where instead of doing anything painful to her or do surgery, they let you spend as much time with her until she passes, or opt for a high-risk surgery to help repair the heart," Ashley Cardenas said.

Although she's been released from the hospital, Audrina will still be on oxygen and use a feeding tube, according to her mom, who spoke to HLN affiliate KTRK.

With Audrina wearing a pink chest shield made by doctors, Ashley said, "She doesn't have the sternum. She doesn't have anything over her heart besides the skin and a little muscle that they put over, so this is very important for her to wear. Especially for a car seat, the straps go right on her heart, and if she didn't have anything hard, it would damage her heart."

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Penalty could keep smokers out of health overhaul

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WASHINGTON (AP) — Millions of smokers could be priced out of health insurance because of tobacco penalties in President Barack Obama's health care law, according to experts who are just now teasing out the potential impact of a little-noted provision in the massive legislation.


The Affordable Care Act — "Obamacare" to its detractors — allows health insurers to charge smokers buying individual policies up to 50 percent higher premiums starting next Jan. 1.


For a 55-year-old smoker, the penalty could reach nearly $4,250 a year. A 60-year-old could wind up paying nearly $5,100 on top of premiums.


Younger smokers could be charged lower penalties under rules proposed last fall by the Obama administration. But older smokers could face a heavy hit on their household budgets at a time in life when smoking-related illnesses tend to emerge.


Workers covered on the job would be able to avoid tobacco penalties by joining smoking cessation programs, because employer plans operate under different rules. But experts say that option is not guaranteed to smokers trying to purchase coverage individually.


Nearly one of every five U.S. adults smokes. That share is higher among lower-income people, who also are more likely to work in jobs that don't come with health insurance and would therefore depend on the new federal health care law. Smoking increases the risk of developing heart disease, lung problems and cancer, contributing to nearly 450,000 deaths a year.


Insurers won't be allowed to charge more under the overhaul for people who are overweight, or have a health condition like a bad back or a heart that skips beats — but they can charge more if a person smokes.


Starting next Jan. 1, the federal health care law will make it possible for people who can't get coverage now to buy private policies, providing tax credits to keep the premiums affordable. Although the law prohibits insurance companies from turning away the sick, the penalties for smokers could have the same effect in many cases, keeping out potentially costly patients.


"We don't want to create barriers for people to get health care coverage," said California state Assemblyman Richard Pan, who is working on a law in his state that would limit insurers' ability to charge smokers more. The federal law allows states to limit or change the smoking penalty.


"We want people who are smoking to get smoking cessation treatment," added Pan, a pediatrician who represents the Sacramento area.


Obama administration officials declined to be interviewed for this article, but a former consumer protection regulator for the government is raising questions.


"If you are an insurer and there is a group of smokers you don't want in your pool, the ones you really don't want are the ones who have been smoking for 20 or 30 years," said Karen Pollitz, an expert on individual health insurance markets with the nonpartisan Kaiser Family Foundation. "You would have the flexibility to discourage them."


Several provisions in the federal health care law work together to leave older smokers with a bleak set of financial options, said Pollitz, formerly deputy director of the Office of Consumer Support in the federal Health and Human Services Department.


First, the law allows insurers to charge older adults up to three times as much as their youngest customers.


Second, the law allows insurers to levy the full 50 percent penalty on older smokers while charging less to younger ones.


And finally, government tax credits that will be available to help pay premiums cannot be used to offset the cost of penalties for smokers.


Here's how the math would work:


Take a hypothetical 60-year-old smoker making $35,000 a year. Estimated premiums for coverage in the new private health insurance markets under Obama's law would total $10,172. That person would be eligible for a tax credit that brings the cost down to $3,325.


But the smoking penalty could add $5,086 to the cost. And since federal tax credits can't be used to offset the penalty, the smoker's total cost for health insurance would be $8,411, or 24 percent of income. That's considered unaffordable under the federal law. The numbers were estimated using the online Kaiser Health Reform Subsidy Calculator.


"The effect of the smoking (penalty) allowed under the law would be that lower-income smokers could not afford health insurance," said Richard Curtis, president of the Institute for Health Policy Solutions, a nonpartisan research group that called attention to the issue with a study about the potential impact in California.


In today's world, insurers can simply turn down a smoker. Under Obama's overhaul, would they actually charge the full 50 percent? After all, workplace anti-smoking programs that use penalties usually charge far less, maybe $75 or $100 a month.


Robert Laszewski, a consultant who previously worked in the insurance industry, says there's a good reason to charge the maximum.


"If you don't charge the 50 percent, your competitor is going to do it, and you are going to get a disproportionate share of the less-healthy older smokers," said Laszewski. "They are going to have to play defense."


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Online:


Kaiser Health Reform Subsidy Calculator — http://healthreform.kff.org/subsidycalculator.aspx


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S&P rises for seventh day but 1,500 too steep a climb

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NEW YORK (Reuters) - The smallest of gains gave the Standard & Poor's 500 its seventh straight winning day on Thursday, but the index failed to hold above the 1,500 line, restrained by Apple's worst day in more than four years.


Apple Inc slid 12.4 percent to $450.50 a day after it posted revenue that missed Wall Street's forecast as iPhone sales were poorer than expected.


The sharp drop wiped out nearly $60 billion in Apple's market capitalization to less than $423 billion, leaving the company vulnerable to losing its status as the most valuable U.S. company to second-place ExxonMobil , at $416.5 billion.


The S&P 500, however, managed to hit its longest winning streak since October 2006.


"The market has sent the message it is no longer driven by the whims of Apple," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.


The S&P 500 briefly traded above 1,500 for the first time since December 12, 2007, but failed to hold above it, indicating that momentum is waning and a pullback is in the charts.


"If the market had a little bit more excitement to it, momentum players would have jumped after it broke through 1,500. Investors know the market is a little bit ahead of itself," Polcari said.


Economic data helped buoy equities as U.S. factory activity grew the most in nearly two years in January and new claims for jobless benefits dropped to a five-year low last week, giving surprisingly strong signals on the economy's pulse.


At the same time, Chinese manufacturing grew this month at the fastest pace in about two years, while data suggesting German growth picked up boosted hopes for a euro-zone recovery.


"PMI in Asia, Europe, and obviously, here in the United States, is moving in the right direction, and that's stuff people should be excited about," Polcari said.


The Dow Jones industrial average <.dji> rose 46 points or 0.33 percent, to 13,825.33 at the close. The S&P 500 <.spx> inched up just 0.01 of a point, or 0 percent, to finish at 1,494.82. The Nasdaq Composite <.ixic> dropped 23.29 points or 0.74 percent, to end at 3,130.38, with most of that loss on Apple's slide.


The broader Russell 2000 index <.rut> also hit a milestone as it closed above 900 points for the first time.


Video streaming service Netflix Inc surprised Wall Street with a quarterly profit after it added nearly 4 million customers in the United States and abroad. Netflix shares surged 42.2 percent to $146.86, its biggest percentage jump ever.


Earnings have helped drive the stock market's recent rally. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings so far, 66.9 percent have exceeded expectations - above the 65 percent average over the past four quarters.


About 6.8 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average during January 2012 of about 6.93 billion shares.


Roughly five issues rose for every four that fell on both the NYSE and Nasdaq.


(Editing by Jan Paschal)



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At War Blog: Women Have Long Served in Combat Roles

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12:15 p.m. | Updated

Defense Secretary Leon E. Panetta has decided to lift the military’s ban on women in combat, a groundbreaking decision that overturns a 1994 Pentagon rule that restricts women from artillery, armor, infantry and other such roles.

As Elisabeth Bumiller and Thom Shanker of The Times report, the move means that hundreds of thousands of frontline jobs will now be open to women. Yet women have long been serving in combat, just not officially.

“I respect and support Secretary Panetta’s decision to lift the ban on women serving in combat,” Senator John McCain said in a statement. “The fact is that American women are already serving in harm’s way today all over the world and in every branch of our armed forces. Many have made the ultimate sacrifice, and our nation owes them a deep debt of gratitude.”

Carey Lohrenz, a former Navy lieutenant, told NPR: “People are trying to make it an argument about whether or not women should be in combat. But women are in combat, and they’ve always been in combat, since the American Revolutionary War – the entire history of our country.”

Representative Niki Tsongas, Democrat of Massachusetts, said Panetta’s announcement would “finally acknowledge the reality of the current nature of war, where the lines between combat and support personnel are not clearly drawn.”

Hundreds of thousands of women have served in Iraq and Afghanistan, many of them in combat. As of last year, more than 800 women had been wounded in the two wars and more than 130 had died.

Share your thoughts about Mr. Panetta’s announcement in the comments below.

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