Stocks edge lower; Best Buy drops

Apple, the most valuable company in the U.S., slumped Friday, helping to drag down the stock market. A lack of progress in federal budget talks also discouraged investors.

Apple's stock dropped 4 after the launch of the iPhone 5 in Beijing failed to draw the long lines of customers that showed up for previous versions of the iPhone, according to news reports. Analysts at UBS cut their earnings estimates and price target for Apple, which lost $19.90 to close at $509.79.

The Standard & Poor's 500 index fell 5.87 points to close at 1,413.58, while the tech-heavy Nasdaq composite sank 20.83 points to 2,971.33. Apple is the biggest stock in both indexes.

The Dow, which doesn't include Apple, fell 35.71 points to 13,135.01. All three stock-market measures ended the week with a loss.

President Barack Obama and House Speaker John Boehner met Thursday to discuss a budget deal to avoid the “fiscal cliff,” a collection of higher taxes and government spending cuts scheduled to start Jan. 1. There were no signs of progress, however, and Boehner returned home to Ohio on Friday.

Investors remain confident the two sides will reach a deal soon, said Todd Morgan, a founder of Bel Air Investment Advisors in Los Angeles. But the more time it takes, the more anxious they get.

“People want to move ahead and get past this,” Morgan said. “The uncertainty around it is what's making people nervous.”

The Labor Department said a steep fall in gas prices pushed down a measure of consumer prices last month. The consumer price index edged down 0.3 percent in November from October, as gas prices sank 7.4 percent, the biggest drop in nearly four years. Consumer prices have risen 1.8 percent over the past year.

The report helped nudge up prices for U.S. government debt, pushing yields down. The yield on the 10-year Treasury note slipped to 1.70 percent from 1.73 percent late Thursday. When inflation is weak, it suggests that interest rates are unlikely to jump, and bond prices unlikely to drop, anytime soon.

Asian markets rose after HSBC said manufacturing in China is picking up. Its index for manufacturing December rose to 50.9, a slight increase from the previous month. Anything above 50 is a sign of growth.

Among other companies in the news:

— Adobe jumped 6 percent after the maker of Photoshop editing software and other applications reported results that beat analysts' expectations. More subscribers for its online Creative Cloud service helped drive revenue and earnings higher. Adobe's stock gained $2.03 to $37.56.

— Best Buy sank 15 percent, losing $2.07 to $12.05. The struggling electronics retailer and one of its founders, Richard Schulze, agreed to give Schulze more time to assemble a bid for the company. That erased nearly all of the gain the stock made Thursday following a report that Schulze would make a bid by the end of the week.

— Silver Bay Realty Trust dipped 26 cents to $18.24 in its first day of trading. Silver Bay raised $245.1 million in its initial public offering Thursday. It plans on using the money to buy thousands of single-family homes and rent them out, as the U.S. housing market slowly heals.

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Susan Rice withdraws from Secretary of State consideration

WASHINGTON – Susan Rice, who came under heavy criticism for her defense of the Obama administration after armed militants killed four Americans in Benghazi, Libya, withdrew her name from consideration for secretary of State on Thursday as the president began to narrow his choices for key Cabinet positions.

“If nominated, I am now convinced that the confirmation process would be lengthy, disruptive and costly – to you and to our most pressing national and international priorities,” Rice wrote in a one-page letter to President Obama. “That tradeoff is simply not worth it to our country.”

In a statement, Obama praised Rice, who is the U.S. ambassador to the United Nations, as a key member of his Cabinet and “an advisor and friend.”

PHOTOS: Notable moments of the 2012 presidential election

“While I deeply regret the unfair and misleading attacks on Susan Rice in recent weeks, her decision demonstrates the strength of her character, and an admirable commitment to rise above the politics of the moment to put our national interests first,” Obama said.

The decision leaves Sen. John Kerry (D-Mass.) as the leading contender to head the State Department after Hillary Rodham Clinton steps down early next year. That, in turn, would require a special election in Massachusetts and likely give Scott Brown, a moderate Republican who lost his Senate seat to Democrat Elizabeth Warren in November, another chance to run.  

White House aides said the president also is now likely to choose either Chuck Hagel, a Republican and former U.S. senator from Nebraska, or Michele Flournoy, formerly the highest-ranking woman at the Defense Department, to replace Leon E. Panetta as secretary of Defense. If nominated, Flournoy would be the first woman to run the Pentagon.

Rice drew flak after she appeared on several Sunday TV talk shows five days after militants stormed a U.S. diplomatic mission in Benghazi in eastern Libya on Sept. 11, killing U.S. Ambassador J. Christopher Stevens and three other Americans.

Although Rice relied on so-called talking points given to her by the CIA, a number of Republican lawmakers said she had falsely described the attacks as spontaneous protests and not a calculated act of terrorism by Libyan extremists. Critics said she had tried to downplay the nature of the attacks to protect Obama during his reelection campaign.

PHOTOS: The best shots from the 2012 campaign

Rice later agreed that her statements were incorrect, but blamed the information she was given by the intelligence community. It did little to stanch the criticism, however.

As speculation grew that Rice was a likely candidate to replace Clinton, she tried to disarm her sharpest critics by meeting senior Republicans in closed-door meetings on Capitol Hill. But Sens. Lindsey Graham (R-S.C.), John McCain (R-Ariz.) and Susan Collins (R-Maine) all said they were dissatisfied, putting her expected nomination in jeopardy.

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[For the Record, 2:27 p.m. PST  Dec. 13: This post originally referred to Michele Flournoy as the current highest-ranking woman at the Defense Department, a position she formerly held before aiding Obama's reelection campaign.]

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Verizon Offering $5 Shared 4G Plan for Samsung Galaxy Camera

Imagine the powerful Samsung Galaxy S III smartphone, except that it can’t make phone calls and its backplate has been replaced by a digital camera — handgrip, zoom lens, and all. That’s basically the Samsung Galaxy Camera in a nutshell, and whether it’s a small, awkwardly-shaped Android tablet or a digital camera that you can play Modern Combat 3 on depends on how you look at it.

When the Galaxy Camera launched last month, it was only available in white, and cost $ 499 on AT&T’s network with a month-to-month data plan. But on Dec. 13, it launches on Verizon’s network, in both white and black. The Verizon Galaxy Camera costs $ 50 more up front, but in return it has 4G LTE instead of HSPA+, and Verizon is offering a “promotional price” for the monthly charge: Only $ 5 to add it to a Share Everything plan, instead of the usual $ 10 tablet rate.

A 4G digital camera

While it’s capable of functioning as an Android tablet (or game machine), the biggest reason for the Samsung Galaxy Camera’s 4G wireless Internet is so it can automatically upload photos it takes. Apps such as Dropbox, Photobucket, and Ubuntu One offer a limited amount of online storage space for free, where the Galaxy Camera can save photos without anyone needing to tell it to. Those photos can then be accessed at home, or on a tablet or laptop.

Most smartphones are able to do this already, but few (with the possible exception of the Windows Phone powered Nokia Lumia 920) are able to take photos as high-quality as the Galaxy Camera’s.

Not as good of a deal as it sounds

Dropbox is offering two years’ worth of 50 GB of free online storage space for photos and videos, to anyone who buys a Samsung Galaxy Camera from AT&T or Verizon. (The regular free plan is only 2 GB.)

The problem is, you may need that much space. The photos taken by the Galaxy Camera’s 16 megapixel sensor take up a lot more space, at maximum resolution, than ordinary smartphone snapshots do. Those camera uploads can eat through a shared data plan, and with Verizon charging a $ 15 per GB overage fee (plus the $ 50 extra up-front on top of what AT&T charges) it may make up for the cheaper monthly cost.

On top of that, the Galaxy Camera’s photos are basically on par with a $ 199 digital camera’s — you pay a large premium to combine that kind of point-and-shoot with the hardware equivalent of a high-end smartphone.

It does run Android, though, right?

The Galaxy Camera uses Samsung‘s custom software for its camera app, and lacks a normal phone dialer app. Beyond that, though, it runs the same Android operating system found on smartphones, and can run all the same games and apps.

Some apps don’t work the same on the Galaxy Camera as they do on a smartphone, however. Apps which only run in portrait mode, for instance, require you to hold the camera sideways to use them (especially unpleasant when they’re camera apps). And while it can make voice and even video calls over Skype, it lacks a rear-facing camera or the kind of speaker you hold up close to your ear. So you may end up making speakerphone calls and filming the palm of your hand.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.
Linux/Open Source News Headlines – Yahoo! News

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Documents: Prisoner plotted to kill Justin Bieber

LAS CRUCES, N.M. (AP) — An imprisoned man whose infatuation with Justin Bieber included a tattoo of the pop star on his leg has told investigators in New Mexico he hatched a plot to kill him.

Court documents in a New Mexico district court say Dana Martin told investigators he persuaded a man he met in prison and the man's nephew to kill Bieber, Bieber's bodyguard and two others not connected to the pop star.

He told investigators that Mark Staake and Tanner Ruane headed east, planning to be near a Bieber concert scheduled in New York City. They missed a turn and crossed into Canada from Vermont. Staake was arrested on an outstanding warrant. Ruane was arrested later.

The two men face multiple charges stemming for the alleged plot.

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World’s Population Living Longer, New Report Suggests

A sharp decline in deaths from malnutrition and diseases like measles and tuberculosis has caused a shift in global mortality patterns over the past 20 years, according to a new report, with far more of the world’s population now living into old age and dying from diseases more associated with rich countries, like cancer and heart disease.

The shift reflects improvements in sanitation, medical services and access to food throughout the developing world, as well as the success of broad public health efforts like vaccine programs. The results are dramatic: infant mortality has declined by more than half between 1990 and 2010, and malnutrition, the No. 1 risk factor for death and years of life lost in 1990, has fallen to No. 8.

At the same time, chronic diseases like cancer now account for about two out of every three deaths worldwide, up from just over half in 1990. Eight million people died of cancer in 2010, 38 percent more than in 1990. Diabetes claimed 1.3 million lives in 2010, double the number in 1990.

But while developing countries made big strides – the average age of death in Brazil and Paraguay, for example, jumped to 63 in 2010, up from 28 in 1970 – the United States stagnated. American women registered the smallest gains in life expectancy of all high-income countries between 1990 and 2010. The two years of life they gained was less than in Cyprus, where women gained 2.3 years of life, and Canada, where women gained 2.4 years. The slow increase caused American women to fall to 36th place in the report’s global ranking of life expectancy, down from 22nd in 1990.

“It’s alarming just how little progress there has been for women in the United States,” said Christopher Murray, director of the Institute for Health Metrics and Evaluation, a health research organization financed by the Bill and Melinda Gates Foundation at the University of Washington that coordinated the report. Rising rates of obesity among American women and the legacy of smoking, a habit women in this country formed later than men, are among the factors contributing to the stagnation, he said.

The World Health Organization issued a statement Thursday saying that some of the estimates in the report differ substantially from those done by United Nations agencies, though others are similar. All comprehensive estimates of global mortality rely heavily on statistical modeling because only 34 countries – representing about 15 percent of the world’s population – produce quality cause-of-death data.

Health experts from more than 300 institutions contributed to the report, which measured disease and mortality for populations in more than 180 countries. It was published Thursday in the Lancet, a British health publication.

The one exception to the trend was sub-Saharan Africa, where infectious diseases, childhood illnesses and maternal causes of death still account for about 70 percent of all illness. In contrast, they account for just one-third in South Asia, and less than a fifth in all other regions. Sub-Saharan Africa also lagged in mortality gains, with the average age of death there rising by fewer than 10 years from 1970 to 2010, compared with a more than 25-year increase in Latin America, Asia and North Africa.

The change means that people are living longer, an outcome that public health experts praised. But it also raises troubling questions. Behavior affects people’s risks of developing noncommunicable diseases like cancer, heart disease and diabetes, and public health experts say it is far harder to get people to change their ways than to administer a vaccine that protects children from an infectious disease like measles.

“Adult mortality is a much harder task for the public health systems in the world,” said Colin Mathers, a senior scientist at the World Health Organization in Geneva. “It’s not something that medical services can address as easily.”

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Stocks fall as investors watch Washington

Stocks sank most of the day Thursday after more signs of tension emerged in federal budget talks. They recovered some of the loss after a late report that President Barack Obama and the House speaker would meet.

The Dow Jones industrial average finished down 74.73 points, or 0.6 percent, to 13,170.72.

House Speaker John Boehner, speaking to reporters in Washington before noon, said that the White House was so resistant to cutting government spending that it risked pushing the country off the “fiscal cliff.”

The “cliff” is tax increases and government spending cuts that take effect Jan. 1 unless Congress and the White House reach a deal to avert them. Economists have warned that the tax increases and spending cuts could eventually lead to a recession.

Shortly after Boehner spoke, Obama told reporters that a deal was “still a work in progress.” Asked about Boehner's assertion that he was waiting to hear more from the president, Obama said only, “Merry Christmas.”

The Dow drifted lower all day and was down 98 points at its low, just after 3 p.m. EST. Then the Obama administration said that the president and Boehner would meet later Thursday at the White House.

Stocks still finished in the red. The Standard & Poor's 500 index dropped 9.03 points, or 0.6 percent, to 1,419.45. It was the first loss for the S&P in six days, tying its longest winning streak since early August.

The Nasdaq composite index dropped 21.65 points to 2,992.16.

The decline in stocks came despite the fourth straight weekly drop in applications for unemployment benefits. Applications fell 29,000 last week to 343,000, the second-lowest this year, the Labor Department reported.

Energy, health care and technology stocks fell the most, and consumer staples stocks were down only slightly. All 10 categories of stock in the S&P 500 index finished lower.

Best Buy shot up $1.94, or 16 percent, to $14.12 after a newspaper reported that the founder of the troubled electronics chain will make a bid of up to $6 billion for the company by the end of the week.

CVS Caremark climbed 96 cents, or 2 percent, to $48.50 after issuing a profit prediction for next year that was ahead of Wall Street expectations. The company also raised its dividend.

On Wednesday, the Dow declined for the first day in five. Stocks rallied in the afternoon after the Federal Reserve tied its pledge of super-low interest rates to an improvement in the unemployment rate, but the rally faded.

The Fed said it would hold interest rates super-low until the unemployment rate drops below 6.5 percent, a threshold the Fed believes may not be breached until the end of 2015. The rate is 7.7 percent today.

The Dow's close Wednesday of 13,245 put it within a point of its close on Election Day. After the election, stocks slid 5 percent as investors began to fret about the “fiscal cliff,” but stocks have drifted back higher recently.

“I don't think anyone expected the markets to hold up this well as we get closer and closer to the deadline,” said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.

“Two possibilities: Either the markets are convinced that they'll reach some sort of agreement, or the markets don't care,” he said.

David Steinberg, managing partner of DLS Capital outside Chicago, said that it was only natural for the market to pause after its run-up in recent weeks. He said that he did not think that the cliff would be a “grand event” for the market.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note climbed to 1.73 percent from 1.70 percent late Wednesday.

Among individual stocks:

— Google gained $5.14, or 0.7 percent, to $702.70 after releasing an updated map application for the iPhone. Google Maps came pre-loaded on previous iPhones but was dropped for the derided Apple Maps earlier this year.

— SolarCity, which installs rooftop solar panels, began trading on the Nasdaq under the symbol SCTY. Shares were priced at $8 and shot to $11.79. Elon Musk, founder of PayPal and Tesla Motors, is the company's chairman.

— Clearwire, a struggling provider of mobile Internet access services, jumped 41 cents, or 15 percent, to $3.16 in heavy trading after Sprint Nextel offered to buy out the minority shareholders of the company for $2.1 billion, giving Sprint total control.

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U.S. official: Syrian government fired Scud missiles at rebels

WASHINGTON -- The Syrian government has fired half a dozen Scud missiles at insurgents in recent days, a U.S. official said Wednesday.

The missiles were launched from near Damascus into rebel-held areas of northern Syria, said the official, who spoke on condition of anonymity because he was discussing intelligence information.

Although recent rebel advances have raised fears that Syrian President Bashar Assad might turn to chemical weapons, the official said there was no sign that the missiles carried chemical agents.

The use of Scud missiles would mark an escalation in the Syrian conflict, which has lasted more more than a year and a half.

Scuds, first developed by the Soviet Union, are hefty, notoriously inaccurate ballistic missiles. They are often labeled as “terror weapons.”

On Wednesday, White House Press Secretary Jay Carney said he could not confirm the reports that Scud missiles had been used, but said that, “if true, this would be the latest desperate act from a regime that has shown utter disregard for innocent life.”

“The idea that the Syrian regime would launch missiles within its borders at its own people is stunning, desperate and a completely disproportionate military escalation,” Carney said.

He said Syrian government efforts to defeat the opposition with military force were failing as the rebels became more unified and organized. More than 100 countries reportedly recognized a Syrian opposition coalition Wednesday, shortly after President Obama stated that the group formed in November was the “legitimate representative” of the Syrian people.

“We are working with our international partners to help strengthen the opposition and to further isolate and sanction the Assad regime,” Carney said. “Again, if this -- if this proves to be true, it's just another identification of the depravity of Assad and his cronies.”

ALSO:

Syrian rebels gaining ground against Assad's air power

Egypt's opposition urges followers to vote 'no' on referendum

North Korea still a long way from a reliable weapon, experts say

Emily Alpert in Los Angeles contributed to this report.

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AP PHOTOS: Top 10 Search Trends of 2012

NEW YORK (AP) — From the tragic to the downright silly, millions of people searched the Web in 2012 to find out about a royal princess, the latest iPad, a record-breaking skydiver and the death of a pop star.

Google released its 12th annual “zeitgeist” report on Wednesday. The company calls it “an in-depth look at the spirit of the times as seen through the billions of searches on Google over the past year.”

Here’s an Associated Press photo gallery of the top ten trending searches of 2012.

Gadgets News Headlines – Yahoo! News

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Far from the Shire, a Hobbit house in Pa. country

CHESTER COUNTY, Pa. (AP) — Worlds away from the Shire, a stone cottage tucked into the Pennsylvania countryside would make Bilbo Baggins feel like he was back home with his Hobbit friends in Middle-earth.

Nestled in a part of Chester County dotted with picturesque barns and rolling fields surprisingly close to Philadelphia, this Hobbit house belongs to a lifelong fan of author J.R.R. Tolkien who wanted a worthy — and private — repository for the rare books and Tolkien-inspired memorabilia he has collected in 30 years of travel in the U.S. and abroad.

The 600-square foot building is a short walk from his main house, on a flat stone path and through an English-style garden.

"We wanted a single structure, a relaxing place that was diminutive in scale, for the owner to come and hang out and just be in solitude with his collection," said architect Peter Archer, speaking on the owner's behalf.

Hundreds of houses inspired by Tolkien's books have been built in the U.S. and abroad. But Archer said, "This isn't something that you can recreate on a suburban cul-de-sac; it was made for this specific location and it wouldn't work anywhere else."

Archer worked with a team of craftsmen to create the fantastical abode. They used stones taken from a long-collapsed section of an 18th-century low wall running through the center of the 16-acre property. Built up against a stone retaining wall of the same vintage, the Hobbit house looks like an original feature of the property.

"We weren't going to do a Hollywood interpretation. We wanted it to be timeless," Archer said. "It was built in 2004 but looking at it, you could think it was from 1904, or 1604."

The 54-inch diameter Spanish cedar door — naturally with a knob right in the center just as Tolkien described — opens with a single hand-forged iron hinge. Several craftsmen said they couldn't hang the 150-pound door on one hinge but a Maryland blacksmith "succeeded on the first try," Archer said.

A Delaware cabinet-maker built the mahogany windows, including the large arched "butterfly window" — its Art Nouveau-ish flourishes inspired by Tolkien's own drawings. The name comes from the window's appearance when open, with the two halves pushed outward from a center hinge. The roof is covered with clay tiles handmade in France.

Inside the small dwelling are curved arches and rafters of Douglas fir, a fireplace finished in stucco and accented with thin slices of clay tile, and plenty of shelves and ledges for the owner's library and displays of Hobbit figurines, Gandalf's staff, hooded capes, chess sets, chalices — and of course, The One Ring. The rustic structure cleverly hides its thoroughly modern heating, cooling, electrical and security systems.

And while a country drive to see the cottage after catching the newly released Peter Jackson film "The Hobbit," might be a nice outing, don't expect to find it.

Concerned that his rural tranquility could turn into an unwanted tourist attraction, the owner has taken steps to ensure it remains under the radar. He does not want the location of the site revealed, and used a pseudonym the rare time he gave an interview, on-camera last year.

Archer, who declined to divulge what it cost to build the Hobbit house, said his team is currently working on a similar project in Tasmania.

___

Online:

Hobbit house: http://bit.ly/QVenU0

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Indianapolis to replace fleet with electric, hybrid vehicles

Indianapolis wants to become the first major city to replace its entire fleet with electric and plug-in hybrid vehicles.

Mayor Greg Ballard signed an executive order Wednesday mandating that the city replace its current sedans with electric vehicles. The city will also work with the private sector to phase in snow plows, fire trucks and other heavy vehicles that run on compressed natural gas, and it will ask automakers to develop a plug-in hybrid police car because one doesn't yet exist.

The city hopes to complete the switch by 2025.

Ballard hopes that in making the switch, Indianapolis will help the country reduce its dependence on foreign oil. City spokesman Marc Lotter said the mayor considers it an issue of national security.

"The United States' current transportation energy model, driven by oil, exacts an enormous cost financially and in terms of strategic leverage," Ballard, a retired Marine officer and Gulf War veteran, said in a statement. "Our oil dependence in some cases places the fruits of our labor into the hands of dictators united against the people of the United States."

The city fleet includes 500 non-police vehicles, and the police car switch alone has the potential to save taxpayers $10 million a year in fuel costs, the statement from the mayor's office said.

Lotter did not provide an estimate on the cost of the change. The new vehicles will be purchased as older vehicles are retired. He said the city buys about 50 non-police vehicles every year.

"We are negotiating with the automakers and several international capital fleet firms to get the best deal possible for taxpayers," Lotter said.

City officials and the U.S. Conference of Mayors have researched the issue and found that no other major U.S. city has announced it will convert its entire fleet.

"From everything we know, we are the first city in the nation to take this step," Lotter said.

The Indianapolis area has 200 charging stations, and Lotter said the city is working with private companies to develop more.

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