Bangladesh Fire Kills More Than 100 and Injures Many





MUMBAI — More than 100 people died Saturday and Sunday in a fire at a garment factory outside Dhaka, Bangladesh, in one of the worst industrial tragedies in that country.




It took firefighters all night to put out the blaze at the factory, Tazreen Fashions, after it started about 7 p.m. on Saturday, a retired fire official said by telephone from Dhaka, the capital. At least 111 people were killed, and scores of workers were taken to hospitals for treatment of burns and smoke inhalation.


“The main difficulty was to put out the fire; the sufficient approach road was not there,” said the retired official, Salim Nawaj Bhuiyan, who now runs a fire safety company in Dhaka. “The fire service had to take great trouble to approach the factory.”


Bangladesh’s garment industry, the second-largest exporter of clothing after China, has a notoriously poor fire safety record. Since 2006, more than 500 Bangladeshi workers have died in factory fires, according to Clean Clothes Campaign, an antisweatshop advocacy group in Amsterdam. Experts say many of the fires could have been easily avoided if the factories had taken the right precautions. Many factories are in cramped neighborhoods and have too few fire escapes, and they widely flout safety measures. The industry employs more than three million workers in Bangladesh, most of them women.


Activists say that global clothing brands like Tommy Hilfiger and the Gap and those sold by Walmart need to take responsibility for the working conditions in Bangladeshi factories that produce their clothes.


“These brands have known for years that many of the factories they choose to work with are death traps,” Ineke Zeldenrust, the international coordinator for the Clean Clothes Campaign, said in a statement. “Their failure to take action amounts to criminal negligence.”


The fire at the Tazreen factory in Savar, northwest of Dhaka, started in a warehouse on the ground floor that was used to store yarn, and quickly spread to the upper floors. The building was nine stories high, with the top three floors under construction, according to an garment industry official at the scene who asked not to be named because he was not authorized to speak to the news media. Though most workers had left for the day when the fire started, the industry official said as many as 600 workers were still inside working overtime.


The factory, which opened in May 2010, employed about 1,500 workers and had sales of $35 million a year, according to a document on the company’s Web site. It made T-shirts, polo shirts and fleece jackets.


Most of the workers who died were on the first and second floors, fire officials said, and were killed because there were not enough exits. None of them opened to the outside.


“The factory had three staircases, and all of them were down through the ground floor,” said Maj. Mohammad Mahbub, the operations director for the Fire Department, according to The Associated Press. “So the workers could not come out when the fire engulfed the building.”


In a telephone interview later on Sunday, Major Mahbub said the fire could have been caused by an electrical fault or by a spark from a cigarette.


In a brief phone call, Delowar Hossain, the managing director of the Tuba Group, the parent company of Tarzeen Fashions, said he was too busy to comment. “Pray for me,” he said and then hung up.


Television news reports showed badly burned bodies lined up on the floor in what appeared to be a government building. The injured were being treated in hallways of local hospitals, according to the reports.


The industry official said that many of the bodies were burned beyond recognition and that it would take some time to identify them.


One survivor, Mohammad Raju, 22, who worked on the fifth floor, said he escaped by climbing out of a third-floor window onto the bamboo scaffolding that was being used by construction workers. He said he lost his mother, who also worked on the fifth floor, when they were making their way down.


“It was crowded on the stairs as all the workers were trying to come out from the factory,” Mr. Raju said. “There was no power supply; it was dark, and I lost my mother in dark. I tried to search for her for 10 to 15 minutes but did not find her.”


A document posted on Tarzeen Fashions’ Web site indicated that an “ethical sourcing” official for Walmart had flagged “violations and/or conditions which were deemed to be high risk” at the factory in May 2011, though it did not specify the nature of the infractions. The notice said that the factory had been given an “orange” grade and that any factories given three such assessments in two years from their last audit would not receive any Walmart orders for a year.


It was unclear whether Walmart had suspended the company or was still buying clothes from it. The Web sites of Tuba Group lists the retailer and others like Carrefour, a French retail chain, as customers. A spokesman for Walmart, Kevin Gardner, said the company was “so far unable to confirm that Tazreen is supplier to Walmart nor if the document referenced in the article is in fact from Walmart.”


Bangladesh exports about $18 billion worth of garments a year. Employees in the country’s factories are among the lowest-paid in the world, with entry-level workers making a government-mandated minimum wage of about $37 a month.


Tensions have been running high between workers, who have been demanding an increase in minimum wages, and the factory owners and government. A union organizer, Aminul Islam, who campaigned for better working conditions and higher wages, was found tortured and killed outside Dhaka this year.


Fire safety remains weak across much of South Asia. In September, nearly 300 workers were killed in a fire at a textile factory in Karachi, Pakistan, just weeks before it passed an inspection that covered several issues, including health and safety.


Julfikar Ali Manik contributed reporting from Dhaka, Bangladesh, and Stephanie Clifford from New York.



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6 ways to tweet yourself out of a job












Hate your job? Want to leave without giving two weeks notice? Thanks to Twitter, it’s never been easier to get fired, says Rob Lammie at Mental Floss


13f4a  MentalFloss Best FINAL 6 ways to tweet yourself out of a job












Step 1: Drunk tweet
As any Spring Break partier knows, drinking impairs your judgment. It seems to have also impaired the judgment of Major League pitcher-turned-sports-radio-host Mike Bacsik, who put on quite a show during a San Antonio Spurs and Dallas Mavericks NBA game in April 2010. While watching the game, Bacsik bragged that he was “About 12 deep and some shots.” He proceeded to unleash a string of insults aimed at NBA commissioner David Stern, accused the refs of fixing the game, and even threatened to blow up the NBA’s offices. But the one that really got people riled up came after the Mavericks lost the game, when Bacsik tweeted: 


SEE MORE: Why popular kids make more money as adults


@MikeBacsik: “Congrats to all the dirty mexicans in San Antonio.”


After sobering up, Bacsik deleted the offending tweets and issued an apology. But it was too little, too late. Numerous people complained to his radio station, which first suspended Bacsik and later fired him. After his dismissal, he told ESPN Dallas, “When you tweet like that, it’s not a playful, harmless thing… I’m very sorry and will try my best for my actions to speak louder than my tweets.”


Step 2: Break the law (or just anger your governor)
Twitter has become a great tool for politicians to connect to the voting public. Former Mississippi Governor Haley Barbour, for one, has really embraced the technology as a way to share his opinions and views. For example, in December 2009, he sent out a tweet saying:


 @HaleyBarbour: “Glad the Legislature recognizes our dire fiscal situation. Look forward to hearing their ideas on how to trim expenses.”


Jennifer Carter, one of his Twitter followers who worked for the University of Mississippi Medical Center (UMC), read this message and offered up a suggestion on how Governor Barbour could personally save the taxpayers money:


“Schedule regular medical exams like everyone else instead of paying UMC employees overtime to do it when clinics are usually closed.” 


This “Oh, snap!” moment referred to an incident that had occurred three years earlier, when the governor requested the medical center open on a Saturday, when they were normally closed, and bring in a staff of 15-20 people who were paid overtime to administer his annual check-up. This happened before Carter worked for UMC and she was simply repeating what she had been told by other employees. 


SEE MORE: Does a shaved head give you an advantage in corporate America?


The governor’s office tracked down Carter and made a formal complaint to UMC, saying Carter had violated the Health Insurance Portability and Accountability Act, a privacy law that states no employee of a medical facility can reveal any information about a person’s “protected health information.” Some argued that Carter didn’t violate HIPAA, since she didn’t actually give out any information about the health of the governor. However, others believe that simply saying the governor had even visited a doctor is a violation. 


Semantics aside, UMC administrators said it was a violation, so they suspended Carter for three days without pay and strongly suggested she resign to avoid further disciplinary action, which she did.


SEE MORE: Facebook’s new jobs board: Is LinkedIn toast?


Step 3: Have an NSFW lifestyle
St. Louis-based blogger “The Beautiful Kind” had been writing online about her polyamorous sex life for years. Knowing that not everyone would agree with her chosen lifestyle, she was always very careful about maintaining her anonymity, especially when it came to the workplace. So when she signed up for Twitter, she wanted to be anonymous there as well. She thought that, thanks to the similarities between the two, it was like signing up for an online message board — you supplied your real name to the website privately, but could choose to be known publicly by your username only. But when she logged in for the first time and saw that, not only did it show her username (@TBK365), but also her real name on her profile, she immediately went back and removed it. 


Thinking she was now safely anonymous, she used Twitter to promote her blog and to discuss sexually explicit topics with her followers. However, when her boss at the non-profit group where she worked was told by upper management to do a Google search of all employees, TBK’s Twitter account information — with her real name still associated — came up on the Twitter tracking site topsy.com.


The next day, TBK was called into her boss’ office and fired on the spot. Afterwards, her former boss sent her a letter saying, “While I know you are a good worker and an intelligent person, I hope you try to understand that our employees are held to a different standard. When it comes to private matters, such as one’s sexual explorations and preferences, our employees must keep their affairs private.” Because Missouri is an at-will employment state, meaning employers can fire someone for just about any reason, TBK was SOL.


Step 4: Question company policy
When California Pizza Kitchen (CPK) traded in their standard white shirts for black ones, employee Tim Chantarangsu wasn’t happy with the change. So he tweeted @calpizzakitchen his opinion:


@traphik: “black button ups are the lamest s**t ever!!!”


He didn’t expect anyone to notice or care, but the next day he received a direct message from corporate asking what restaurant he worked for. He knew better than to respond, but they tracked him down anyway and he was fired. They not only referenced his tweet about the shirts, but also an earlier one where he had said he was getting ready to work at “Calipornia Skeetza Kitchen.” 


Little did they know that Chantarangsu is kind of a big deal on another social website, YouTube. Under the name TimothyDeLaGhetto2, Chantarangsu has hundreds of thousands of subscribers, accounting for over 10,500,000 views of his videos at the time. Of course he made a YouTube video telling his Twitter story and it has been viewed well more than 100,000 times. Shortly after the incident, he asked his followers to bombard CPK’s Twitter account with RTs (re-tweets) of his offending message, which they were more than happy to oblige.


Step 5: Make a celebrity look bad
During his five years on the job, Jon Barrett-Ingels had served a lot of celebrities as a waiter at Barney Greengrass, an upscale restaurant in Beverly Hills. One day, Jane Adams, star of the HBO series Hung, came in and had lunch to the tune of $ 13.44. Unfortunately, when the bill came, Adams realized she had left her wallet in the car. Ingels knew who she was, so he told her she could run out and grab it and come back. The actress left, but didn’t return. Instead, someone from her agency called the next day and paid the bill. However, they didn’t leave a tip. Ingels had recently signed up for Twitter and so, his sixth tweet to his 40 followers said:


@PapaBarrett: Jane Adams, star of HBO series “Hung” skipped out on a $ 13.44 check. Her agent called and payed the following day. NO TIP!!!” 


Over the next few weeks, Ingels started using Twitter to send out a few harmless observations about celebrities that came in to eat — mainly what they ordered or what they looked like that day. Then, out of the blue, Jane Adams came back to the restaurant. According to Ingels’ blog, she was clearly upset and begrudgingly slapped $ 3 on the bar for Ingels as a tip. Surprised, Ingels told the actress she really didn’t have to do that, but her gesture was appreciated. She allegedly replied with, “My friend read about it on Twitter!” before storming off. Adams complained about the tweet to management, so someone from Barney’s corporate started following Ingels on Twitter to see what he was up to. After reading his celebrity tweets, it didn’t take long before they gave him the boot.


Step 6: Don’t get hired in the first place
If you’ve followed steps 1 – 5 and you still have a job, here’s the ultimate way to make sure Twitter will keep you from gainful employment.


When recent college grad Skye Riley heard back from Cisco, the computer networking giant, about her job application, one of her first instincts was to tweet about it. Unfortunately, this is what she tweeted:


@theconnor: Cisco just offered me a job! Now I have to weigh the utility of a fatty paycheck against the daily commute to San Jose and hating the work.


The unfortunate part? An employee of Cisco, Tim Levad, came across her post while doing a Twitter search for Cisco. He replied to her by saying:


@timmylevad: Who is the hiring manager. I’m sure they would love to know that you will hate the work. We here at Cisco are versed in the web.


Riley’s story was the tweet heard round the world. It became a hot topic on tech blogs for weeks afterwards, with writers calling it the “Cisco Fatty” incident. She later claimed that the tweet was taken out of context — that part of her message was referring to a well-paid internship she had turned down — but it appears the damage had already been done. While only she and Cisco know what really happened, according to her online resume, she has never worked for the company.


 — Rob Lammie


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Frederika Goldberger, Better Known as Mamika, Turns Old Age Into a Super Power















11/24/2012 at 03:00 PM EST







Mamika


Courtesy Sacha Goldberger


It's a bird ... it's a plane ... it's super grandma!

When 94-year-old Frederika Goldberger retired in the early 80s, she was bored and unhappy, so her grandson, Sacha Goldberger, began creating incredible photographs of her to lift her spirits and keep her active.

After a few years and plenty of photoshoots, Mamika – Frederika's superhero alter ego – was created.

"I always loved comics and I wanted to show what could happen to superheroes when they are old," Sacha told TODAY.com.

"The pictures gave her something to do again and helped give her more self-confidence again," Sacha said. "It's a love story. Before I made the pictures, I wanted everyone to know her – she’s incredible."

But long before she posed for the camera, Frederika was a hero. Born a baroness into a wealthly Jewish family in Budapest, Hungary, she was forced into hiding during World War II. Later, Frederika and her husband would risk their lives to help hide others from the Nazis – by the end of the war, her efforts had saved 10 people. Frederika later relocated to France where she raised her family.

Mamika – which translates to "my little grandma" in Hungarian – no longer has to worry about post-retirement boredom. This past April Sacha's first book, Mamika: My Mighty Little Grandmother was published and the duo has begun working on a movie together.

"Before, I'd see pictures of older people and they always looked sad," Sacha said. "I wanted to show that you can be old and still have a sense of humor and be fun."

Read More..

AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

Read More..

Morsi Urged to Retract Edict to Bypass Judges in Egypt


Tara Todras-Whitehill for The New York Times


A demonstrator takes a breather during protests in downtown Cairo on Saturday. More Photos »







CAIRO — The association of judges here called Saturday for courts across Egypt to suspend all but their most vital activities to protest an edict by President Mohamed Morsi granting himself unchecked power by setting his decrees above judicial review until the ratification of a new constitution.




The judges’ strike, which drew the support of the leader of the national lawyers’ association, would be the steepest escalation yet in a political struggle between the country’s new Islamist leaders and the institutions of the authoritarian government that was overthrown last year. As it spills into the courts and the streets, the dispute also increasingly threatens to undermine the credibility of Egypt’s political transition as well.


A council that oversees the judiciary denounced Mr. Morsi’s decree, which was issued Thursday, as “an unprecedented attack on judicial independence,” and urged the president to retract parts of the decree eliminating judicial oversight.


State news media reported that judges and prosecutors had already walked out in Alexandria, and there were other news reports of walkouts in Qulubiya and Beheira, but those could not be confirmed.


Outside Egypt’s high court in Cairo, the police fired tear gas at protesters who were denouncing Mr. Morsi and trying to force their way into the building, the second day in a row that protesters took to the streets over the presidential decree, which critics have decried as a return to autocracy.


Abdel Meguid Mahmoud, a prosecutor appointed by Mr. Morsi’s predecessor, Hosni Mubarak, declared to a crowd of cheering judges that the presidential decree was “null and void.” He denounced what he described as “the systematic campaign against the country’s institutions in general and the judiciary in particular.”


A coalition of disparate opposition leaders including the liberal former United Nations diplomat Mohamed ElBaradei, the leftist-nationalist Hamdeen Sabahy, and the former Mubarak-government foreign minister Amr Moussa formed a self-proclaimed National Salvation Front to oppose the decree. In addition to demanding the dissolution of the constitutional assembly, the group declared that it would not speak with Mr. Morsi until he withdrew his decree.


“We will not enter into a dialogue about anything while this constitutional declaration remains intact and in force,” Mr. Moussa said. “We demand that it be withdrawn and then we can talk.”


As the judges group called for a suspension of the courts, a growing number of lawyers filed claims demanding that the courts seek to overturn Mr. Morsi’s decree, joining the battle between the executive and judicial powers.


Advisers to Mr. Morsi, a former leader of the Muslim Brotherhood and Egypt’s first democratically elected president, defended his action, saying he was trying to prevent the courts from disbanding the Islamist-dominated constitutional assembly, which is writing a new constitution. The nation’s top courts had already dissolved the Islamist-led parliament and an earlier Islamist-led constituent assembly.


The advisers said a court decision on the new constitutional assembly had been expected as soon as next Sunday.


The judges’ group, as well as the newly unified secular opposition, have demanded that Mr. Morsi withdraw his decree, and that he disband and replace the current constitutional assembly. Many of the assembly’s non-Islamist members, including secularists and representatives of the Coptic Church, had already quit the body to protest the Islamists’ domination.


The increasingly vocal criticism of the assembly threatens to undermine the legitimacy of the ultimate charter, and has only increased the likelihood that the Islamist leaders may seek to pass and ratify it on their own, over the opposition of other groups, further damaging its credibility.


The opposition to the decree has also reinforced the fears of Islamists that judges appointed by former President Hosni Mubarak and the secular opposition were deliberately seeking to derail the process rather than accept their defeats at the polls.


Nevine Ramzy and Mai Ayyad contributed reporting.



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Fired colleague of UBS rogue trader Adoboli opens betting site












LONDON (Reuters) – A former senior trader at UBS, sacked for failing to prevent colleague Kweku Adoboli from perpetrating the biggest fraud in British history, has set up a gambling website.


In a decision likely to be seized upon by critics who say traders have often made casino-style bets, John Hughes started his gambling firm even though his website said his old job had “removed all sense of optimism from his character”.












Adoboli, his former subordinate now serving seven years in jail for running up losses of $ 2.3 billion, argued during his trial that his own behavior was the result of a risky trading culture encouraged by senior colleagues, and his lawyers alleged that Hughes had played a major role in “off-book” trading.


Hughes admitted he had known of Adoboli’s scheme to hide his giant losses and that he had booked several fictitious trades himself, but denied knowledge of some of Adoboli’s biggest multi-billion dollar trades.


Hughes said he had chosen to call his new gambling website ‘BetsofMates’, a play on the expression “Best of Mates”.


That may grate with Adoboli who complained that his colleagues, including Hughes, had “sold me down the river” after a meeting at which he said it was decided he alone would carry the can for the huge losses.


Hughes and the others said they had no memory of such a meeting.


“We’re not a standard bookie,” Hughes said of his new website, which enables users to play against each other in leagues, with each player placing bets of between two and 200 pounds.


“We facilitate competition. The emphasis is a lot more on competition than yield enhancement,” he told Reuters on Thursday.


The former senior trader on the Exchange Traded Funds desk at UBS in London said Adoboli’s conviction was “just incredibly sad”. He declined to comment further.


Despite a large salary and bonus, Adoboli was himself an avid gambler and lost 123,000 pounds ($ 200,000) on spread-betting in the year before his arrest.


One prosecutor accused him of being addicted to gambling to which Adoboli countered that spread-betting was common among City traders “like a taxi driver driving his own taxi home”.


Hughes’ profile on his new firm’s website says that “seven years in the City (had) removed all sense of optimism from his character, and made him absurdly superstitious.”


He told Reuters such feelings had arisen “sitting there watching the markets for seven years and watching different news hit the tapes and obviously the last seven years haven’t been the easiest in the financial markets.”


Britain’s Gambling Commission granted a license to his pool betting company ‘Bets of Mates Limited’, which is registered to an East London address, in September 2012, two months before Adoboli was convicted.


(Editing by Andrew Osborn)


Internet News Headlines – Yahoo! News


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Jennifer Hudson Hits High Notes as Broadway Diva in Smash















11/23/2012 at 03:00 PM EST



The new trailer for season 2 of Smash opens with Katharine McPhee's character, Karen Cartwright, telling Megan Hilty's character, Ivy Lynn, to stay out of her elevator.

And that's not even the biggest diva moment!

That honor would go to show newcomer Jennifer Hudson, who will play Broadway sensation (and two-time Tony winner) Veronica Moore. There will be no shortage of powerhouse vocals from Hudson, who belts out more than a few high notes in the trailer. And looks gorgeous doing it.

"Someone's always waiting to take you down, honey," Moore tells Cartwright in one scene. "But if the work's good, they won't be able to."

We'll see how good the work is when the second season debuts Feb. 5 on NBC. But until then the super-sized trailer has plenty of drama, including new love interests, backstabbing, scandal, twists, big, big, big musical numbers.

Read More..

AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

Read More..

Wall Street ends higher in short session, led by techs

NEW YORK (Reuters) - Stocks rose for a fifth day during a holiday-shortened, thinly traded session on Friday as investors picked up recently beaten-down shares of large technology companies.


Market participants were also encouraged by signs of progress in talks about releasing aid to debt-saddled Greece and piled into U.S. retail shares as Black Friday got the holiday shopping season under way.


U.S. stock market trading ended early and was closed on Thursday for the Thanksgiving holiday.


Volume was the lightest of the year, though the session was abbreviated. Shares of big-cap technology companies climbed as investors took advantage of the day's upward momentum to add to positions, helping the S&P 500 rack up its second best week of 2012.


"Anyone that was on the sidelines waiting for a pullback like the one we just had in some of the tech names, they're looking for any glimpse of strong price action for 'permission' to enter into those (stocks)," said Todd Salamone, director of research at Schaeffer's Investment Research in Cincinnati, Ohio


Microsoft helped lift the Nasdaq, gaining 2.8 percent to $27.70, while Apple Inc rose 1.7 percent to $571.50.


From mid-September to mid-November, the S&P tech sector <.gspt> shed about 13 percent as the broader market also dropped.


Research in Motion surged on optimism about its soon-to-be-launched BlackBerry 10 devices that will vie against Apple's iPhone and Android-based smartphones. RIM was up 13.6 percent at $11.66.


Greece said the International Monetary Fund had relaxed its debt-cutting target for the country, suggesting lenders were closer to a deal for a vital aid tranche to be paid. But other sources involved in the talks cautioned the funding gap was far bigger than Greece has suggested.


Euro zone finance ministers, the IMF and European Central Bank (ECB) failed earlier this week to agree on how to shrivel the country's debt to a sustainable level and will have a third attempt at resolving the issue on Monday.


The Dow Jones industrial average <.dji> gained 172.79 points, or 1.35 percent, to 13,009.68. The Standard & Poor's 500 Index <.spx> rose 18.12 points, or 1.30 percent, to 1,409.15. The Nasdaq Composite Index <.ixic> climbed 40.30 points, or 1.38 percent, to 2,966.85.


The S&P 500 broke a two-week losing streak to rise 3.6 percent. Stocks had tumbled earlier in the month on worries about the impact of tax and spending changes set to take effect from January, but hopes that politicians will reach a deal to avert the so-called fiscal cliff helped the market recoup some of those declines this week.


The Dow and S&P 500 both closed above key technical levels for the first time since Nov 6, which could provide additional support. The Dow ended above 13,000, while the S&P broke above 1,400.


The Dow rose 3.3 percent for the week, while the Nasdaq jumped 4 percent. The Nasdaq had ended lower for the previous six weeks in a row.


Volume was about 2.8 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of over 6 billion.


Advancers outnumbered decliners on the NYSE by 2,407 to 469 on the New York Stock Exchange. On the Nasdaq, advancers had the lead, with 1,775 stocks gaining and 548 shares declining.


The retail sector rose as investors looked for signs of how much consumers are spending as stores lured shoppers with Black Friday deals and discounts.


Black Friday, the day after Thanksgiving, kicks off the U.S. Christmas shopping season for retailers and is often the busiest shopping day of the year. The National Retail Federation expects sales during the holiday season to grow 4.1 percent this year compared with last year's 5.6 percent increase.


If the traffic and sales numbers look strong early on, "it usually gives a sense that the season will be in line with expectations," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


"The way that could work against a stronger retail season is if there's no follow-through, there could be discounting on the part of retailers."


Wal-Mart rose 1.9 percent to $70.20, while Target gained 1.2 percent to $64.48.


(Editing by Kenneth Barry)


Read More..

Protests Erupt After Egypt’s Leader Seizes New Power





CAIRO — Opponents of President Mohamed Morsi were reported to have set fire to his party’s offices in several Egyptian cities on Friday in a spasm of protest and clashes after he granted himself broad powers above any court declaring himself the guardian of Egypt‘s revolution, and used his new authority to order the retrial of Hosni Mubarak.








Maya Alleruzzo/Associated Press

Egyptian protesters chanted antigovernment slogans and waved a national flag in Tahrir Square on Friday.






In the Mediterranean city of Alexandria, the opponents of the Muslim Brotherhood’s Freedom and Justice Party clashed with followers of Mr. Morsi, an Islamist, who won Western and regional plaudits only days ago for brokering a cease-fire to halt eight days of lethal exchanges between Israeli forces and militants in the Gaza Strip.


Mr. Morsi, Egypt’s first democratically elected president, portrayed his decree assuming the new powers as an attempt to fulfill popular demands for justice and protect the transition to a constitutional democracy. He said it was necessary to overcome gridlock and competing interests. But the unexpected breadth of the powers he seized raised immediate fears that he might become a new strongman.


“We are, God willing, moving forward, and no one stands in our way,” Reuters quoted Mr. Morsi as saying on Friday said in a suburban mosque here after Friday prayers.


“I fulfill my duties to please God and the nation and I take decisions after consulting with everyone,” he said. “Victory does not come without a clear plan and this is what I have.”


He spoke as state television reported that his party’s offices in the Suez Canal cities of Suez, Port Said and Ismailia had been burned as his foes rampaged. Thousands of people protesting Mr. Morsi’s power grab gathered in Tahrir Square here — the focal point of protests that, last year, swept away Mr. Mubarak. Elsewhere in the capital, the president’s supporters massed in even larger numbers outside the presidential palace where Mr. Morsi said his aim was “to achieve political, social and economic stability.”


“I am for all Egyptians. I will not be biased against any son of Egypt,” he said on a stage outside the presidential palace, Reuters, reported, adding he was working for social and economic stability. “Opposition in Egypt does not worry me, but it has to be real and strong,” he said.


Sounding defensive at times and employing some of the language favored by his autocratic predecessor, Mr. Morsi justified his power grab as necessary to move Egypt’s revolution forward.


“The people wanted me to be the guardian of these steps in this phase,” he said, reminding his audience that he was freely elected after a contest “that the whole world has witnessed.”


“I don’t like, and don’t want — and there is no need — to use exceptional measures,” he said. “But those who are trying to gnaw the bones of the nation,” he added, “must be held accountable.”


News reports said clashes spread from Alexandria to the southern city of Assyut. But the severity of the clashes was not immediately clear.


Mr. Morsi’s new powers prompted one prominent adversary, Mohamed ElBaradei, to say on Twitter: “Morsi today usurped all state powers & appointed himself Egypt’s new pharaoh.”


“An absolute presidential tyranny,” Amr Hamzawy, a liberal member of the dissolved Parliament and prominent political scientist, wrote in an online commentary. “Egypt is facing a horrifying coup against legitimacy and the rule of law and a complete assassination of the democratic transition.”


Mr. Morsi issued the decree on Thursday at a high point in his five-month-old presidency, when he was basking in praise from the White House and around the world for his central role in negotiating a cease-fire that the previous night had stopped the fighting in the Gaza Strip.


But his political opponents immediately called for demonstrations on Friday to protest his new powers. “Passing a revolutionary demand within a package of autocratic decisions is a setback for the revolution,” Abdel Moneim Aboul Fotouh, a more liberal former leader of the Muslim Brotherhood and a former presidential candidate, wrote online. And the chief of the Supreme Constitutional Court indicated that it did not accept the decree.


In Washington on Thursday, the State Department spokeswoman, Victoria Nuland, released a statement saying: “The decisions and declarations announced on November 22 raise concerns form many Egyptians and the international community,” and noting that “one of the aspirations of the revolution was to ensure that power would not be overly concentrated in that hands of any one person or institution.” The statement called for resolution “through democratic dialogue.”


David D. Kirkpatrick and Kareem Fahim reported from Cairo and Alan Cowell from Paris. Mayy El Sheikh contributed reporting.



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