Stock index futures point to flat-to-lower start

LONDON (Reuters) - Stock index futures pointed to a flat-to-lower open on Wall Street on Thursday.

Futures for the S&P 500 and the Dow Jones were down 0.1 percent, while contracts for the Nasdaq 100 were flat at 5.01 a.m. ET.

Japan's Nikkei average dropped on Thursday in active trade after the central bank's third dose of monetary stimulus disappointed the market and triggered profit-taking, although the index managed to end above 10,000.

European shares were flat as new signs of friction in U.S. budget talks stopped investors from buying on multi-month highs on key regional indexes.

Republicans in the U.S. House of Representatives may vote on an alternative tax bill that House Speaker John Boehner said would extend low tax rates, except on income of $1 million and above. The White House said President Barack Obama would veto the proposal, designed to avert January 1 tax hikes.

The U.S. Commerce Department releases its third and final estimate gross domestic product estimate at 8.30 a.m. ET. The pace of growth is likely to be revised up to 2.8 percent from 2.7 percent, reflecting a smaller trade deficit, but the composition of growth will probably continue to point to a slowdown in activity this quarter.

The Labor Department issues first-time claims for jobless benefits for the week ended December 15 at the same time. Economists in a Reuters survey forecast a total of 357,000 new filings compared with 343,000 in the prior week.

The Philadelphia Federal Reserve Bank publishes December business activity survey at 1500, forecast to come in at -3.0 versus -10.7 in November.

The Conference Board's November leading economic indicators, also due at 1500, was forecast to show a 0.2 percent drop compared with a 0.2 percent increase in October.

IntercontinentalExchange Inc is in talks to buy NYSE Euronext , the operator of the New York Stock Exchange, according to a source familiar with the situation on Wednesday, in a multibillion dollar deal that could help the commodities exchange take on arch rival CME Group Inc .

Google Inc agreed to sell set-top TV box maker Motorola Home to Arris Group Inc for $2.35 billion in cash and stock, the companies said on Wednesday.

BlackBerry maker RIM is on track to report its third straight quarterly loss on Thursday as it struggles to sell its ageing lineup in a market crowded with Apple iPhones and a range of devices using Google's Android software.

The U.S. Patent and Trademark Office has rejected Apple Inc's 'pinch-to-zoom' patent in a preliminary ruling that Samsung Electronics Co Ltd argues supports its request for a new trial in the patent war against its rival.

Top sports clothes maker Nike reports second-quarter results, expected to show earnings per share of $1 dollar, steady year on year, and will talk about holiday demand and trends.

The U.S. Treasury plans to sell its stake in General Motors Co over the coming year, all but assuring a multibillion-dollar loss in a move that will end the automaker's "Government Motors" era.

General Motors Corp and PSA Peugeot Citroen have dropped plans to jointly develop a large car and will base their alliance on three smaller vehicle projects, the automakers said on Thursday.

Food safety authorities have shut down two chicken farms in eastern China, including one that supplied Yum Brands Inc's KFC and McDonald's Corp , the official Shanghai Daily reported on Thursday.

Stephen Gillett, the head of Best Buy Co Inc's digital business, is leaving the world's largest consumer electronics chain to become chief operating officer of data protection software company Symantec Corp .

Activist investor William Ackman confirmed on Wednesday that he is betting against the stock of Herbalife Ltd in a move that sent shares of the weight management product company reeling and sparked a caustic rebuke from its chief executive officer.

Embattled healthcare technology firm Allscripts named its board member and former chief operating officer of rival Cerner Corp Paul Black as its CEO, replacing Glen Tullman, and said it ended a review of strategic alternatives.

U.S. mortgage finance giants Fannie Mae and Freddie Mac may have suffered more than $3 billion in losses due to manipulation of the benchmark interest rate known as Libor, according to an internal memo by a federal watchdog.

The Dow Jones industrial average <.dji> dropped 98.99 points, or 0.74 percent, to 13,251.97 on Wednesday. The S&P 500 <.spx> lost 10.98 points, or 0.76 percent, to 1,435.81. The Nasdaq Composite <.ixic> fell 10.17 points, or 0.33 percent, to 3,044.36.

(Reporting By Francesco Canepa; Editing by Hugh Lawson)

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South Korea's Park seen winning tight presidential election

SEOUL (Reuters) - The daughter of the South Korea's former military ruler appeared to be leading in Wednesday's presidential vote, putting her on track to become the country's first woman head of state although her narrow advantage meant the race was set to go to the wire.

A win for the 60-year old conservative Park Geun-hye would see her return to the presidential palace where she served as her father's first lady in the 1970s after Park's mother was assassinated by a North Korean-backed gunman.

Exit polls released by three broadcasters showed Park had 50.1 percent of the vote against 48.9 percent for her left-wing challenger, human rights lawyer Moon Jae-in, in a tight race where the predicted outcome was well within the margin of error.

Turnout was 75.5 percent, a touch less than the 77 percent her opponent had appealed for in a bid to turn out the youth vote that was more likely to be for him.

"This makes it difficult to predict the final breakdown of votes and who the winner will be," Woo Jung-yeop, a polling specialist at the Asan Institute for Policy Studies, a Seoul-based think-tank, said of the narrow margin.

If she does win, Park will take office for a mandatory single term in February and will face an immediate challenge from a hostile North Korea and deal with an economy in which annual growth rates have fallen to about 2 percent from an average of 5.5 percent in the past 50 years.

She is unmarried and has no children, saying that her life will be devoted to her country.

At the headquarters of her Saenuri party officials greeted the exit polls with a huge cheer, although a clear picture of results may not emerge until 11 p.m. (1400 GMT).

"I feel good, a 1.2 percent gap on the sampling of 86,000," said Shim Jae-chul, a member of parliament and one of the party's top officials.

The legacy of her father, Park Chung-hee, who ruled South Korea for 18 years and transformed the country from the ruins of the 1950-53 Korean War into an industrial power-house still divides the country.

For many conservatives, he is South Korea's greatest president and the election of his daughter would vindicate his rule. His opponents dub him a "dictator" who trampled on human rights and stifled dissent.

"I trust her. She will save our country," said Park Hye-sook, 67, who voted in an affluent Seoul district, earlier in the day.

"Her father ... rescued the country," said the housewife and grandmother, who is no relation to the candidate.

For younger people, the main concern of the election is the economy and the creation of well-paid jobs in a country where income inequalities have risen in recent years.

Cho Hae-ran, 41, who is married and works at a trading company, believed Moon would raise wages if he won.

"Now a McDonald's hamburger is over 5,000 Korean won ($4.66) so you can't buy a McDonald's burger with your hourly pay. Life is hard already for our two-member family but if there were kids, it would be much tougher."

Park has spent 15 years in politics as a leading legislator in the ruling Saenuri party, although her economic policies remain sketchy.

Park has a "Happiness Promotion Committee" and her campaign was launched as a "National Happiness Campaign", a slogan she has since changed to "A Prepared Woman President".

At times, she has cited former British Prime Minister Margaret Thatcher, a tough proponent of free markets, as her role model. At other times it has been Angela Merkel, the conservative German Chancellor who is Europe's most powerful leader.

NEGOTIATE WITH NORTH

Park has said she would negotiate with Kim Jong-un, the youthful leader of North Korea who recently celebrated a year in office, but wants the South's isolated and impoverished neighbor to give up its nuclear weapons program as a precondition for aid, something Pyongyang has refused to do.

The two Koreas remain technically at war after a armistice ended the Korean conflict and Kim Il Sung, the grandfather of the North's current leader, ordered several assassination attempts on Park's father, one of which resulted in her mother being shot to death in 1974.

Park herself met Kim Jong-un's father, the late leader Kim Jong-il, and declared he was "comfortable to talk to" and he seemed to be someone "who would keep his word".

The North successfully launched a long-range rocket last week in what critics said was a test of technology for an intercontinental ballistic missile and has recently stepped up its attacks on Park, describing her as holding a "grudge" and seeking "confrontation", code for war.

Park remains a firm supporter of South Korea's trade pact with the United States that her opponent has threatened to repeal and looks set to continue the free-market policies of her predecessor, although she has said she will seek to spread wealth more evenly.

Moon had pledged to tackle the power of the country's vast export-oriented industrial conglomerates, the so-called chaebol, but Park has stressed their value in creating jobs.

The biggest of all the chaebol, Samsung Group, which produces the world's top selling smartphone as well as televisions, computer chips and ships, has sales equivalent to about a fifth of South Korea's national output.

(Additional reporting by Jumin Park, Seongbin Kang, Narae Kim, SoMang Yang; Writing by David Chance; Editing by Robert Birsel)

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Sony confirms 10 devices will get Jelly Bean upgrade starting in February 2013

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The Voice Crowns a Winner!

TV Watch

By Julia Haskins

12/18/2012 at 11:20 PM EST

From left: Terry McDermott, Cassadee Pope, Nicholas David and host Carson Daly

Tyler Golden/NBC

The Voice has a new winner!

After several powerful performances the night before, the top three singers – Nicholas David (of Team Cee Lo) and Terry McDermott and Cassadee Pope (of Blake Shelton's team) – faced the music on Tuesday during the final results show of season 3.

Which one was the winner? Keep reading to find out ...

Cassadee Pope was named the winner of The Voice!

Pope thanked her fans who supported her throughout the competition. She was joined onstage by McDermott, who was the runner-up, and David, who came in third place.

It was a night of music as Rihanna, newly engaged Kelly Clarkson, Bruno Mars and the Killers celebrated with the finalists by displaying their talents.

Season 4 of The Voice premieres March 25, 2013, with Shakira and Usher stepping in to take over for Christina Aguilera and Cee Lo Green.

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Experts: Kids are resilient in coping with trauma

WASHINGTON (AP) — They might not want to talk about the gunshots or the screams. But their toys might start getting into imaginary shootouts.

Last week's school shooting in Connecticut raises the question: What will be the psychological fallout for the children who survived?

For people of any age, regaining a sense of security after surviving violence can take a long time. They're at risk for lingering anxiety, depression, post-traumatic stress disorder.

But after the grief and fear fades, psychiatrists say most of Newtown's young survivors probably will cope without long-term emotional problems.

"Kids do tend to be highly resilient," said Dr. Matthew Biel, chief of child and adolescent psychiatry at MedStar Georgetown University Hospital.

And one way that younger children try to make sense of trauma is through play. Youngsters may pull out action figures or stuffed animals and re-enact what they witnessed, perhaps multiple times.

"That's the way they gain mastery over a situation that's overwhelming," Biel explained, saying it becomes a concern only if the child is clearly distressed while playing.

Nor is it unusual for children to chase each other playing cops-and-robbers, but now parents might see some also pretending they're dead, added Dr. Melissa Brymer of the UCLA-Duke National Center for Child Traumatic Stress.

Among the challenges will be spotting which children are struggling enough that they may need professional help.

Newtown's tragedy is particularly heart-wrenching because of what such young children grappled with — like the six first-graders who apparently had to run past their teacher's body to escape to safety.

There's little scientific research specifically on PTSD, post-traumatic stress disorder, in children exposed to a burst of violence, and even less to tell if a younger child will have a harder time healing than an older one.

Overall, scientists say studies of natural disasters and wars suggest most children eventually recover from traumatic experiences while a smaller proportion develop long-term disorders such as PTSD. Brymer says in her studies of school shootings, that fraction can range from 10 percent to a quarter of survivors, depending on what they actually experienced. A broader 2007 study found 13 percent of U.S. children exposed to different types of trauma reported some symptoms of PTSD, although less than 1 percent had enough for an official diagnosis.

Violence isn't all that rare in childhood. In many parts of the world — and in inner-city neighborhoods in the U.S., too — children witness it repeatedly. They don't become inured to it, Biel said, and more exposure means a greater chance of lasting psychological harm.

In Newtown, most at risk for longer-term problems are those who saw someone killed, said Dr. Carol North of the University of Texas Southwestern Medical Center, who has researched survivors of mass shootings.

Friday's shootings were mostly in two classrooms of Sandy Hook Elementary School, which has about 450 students through fourth-grade.

But those who weren't as close to the danger may be at extra risk, too, if this wasn't their first trauma or they already had problems such as anxiety disorders that increase their vulnerability, she said.

Right after a traumatic event, it's normal to have nightmares or trouble sleeping, to stick close to loved ones, and to be nervous or moody, Biel said.

To help, parents will have to follow their child's lead. Grilling a child about a traumatic experience isn't good, he stressed. Some children will ask a lot of questions, seeking reassurance, he said. Others will be quiet, thinking about the experience and maybe drawing or writing about it, or acting it out at playtime. Younger children may regress, becoming clingy or having tantrums.

Before second grade, their brains also are at a developmental stage some refer to as magical thinking, when it's difficult to distinguish reality and fantasy. Parents may have to help them understand that a friend who died isn't in pain or lonely but also isn't coming back, Brymer said.

When problem behaviors or signs of distress continue for several weeks, Brymer says it's time for an evaluation by a counselor or pediatrician.

Besides a supportive family, what helps? North advises getting children back into routines, together with their friends, and easing them back into a school setting. Studies of survivors of the Sept. 11 terrorist attacks found "the power of the support of the people who went through it with you is huge," she said.

Children as young as first-graders can benefit from cognitive-behavioral therapy, Georgetown's Biel said. They can calm themselves with breathing techniques. They also can learn to identify and label their feelings — anger, frustration, worry — and how to balance, say, a worried thought with a brave one.

Finally, avoid watching TV coverage of the shooting, as children may think it's happening all over again, Biel added. He found that children who watched the 9/11 clips of planes hitting the World Trade Center thought they were seeing dozens of separate attacks.

___

EDITOR'S NOTE — Lauran Neergaard covers health and medical issues for The Associated Press in Washington.

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Stock index futures trade flat to higher

LONDON (Reuters) - Stock index futures pointed to a flat-to-higher open on Wall Street on Wednesday, consolidating gains after the S&P 500's best two-day run in a month.

* Futures for the S&P 500 were unchanged, while Dow Jones and Nasdaq 100 contracts rose 0.2 percent and 0.3 percent, respectively, at 0924 GMT.

* Japan's Nikkei <.n225> jumped 2.4 percent to end above 10,000 for the first time in more than eight months on Wednesday on growing expectations of easier monetary policy under a new government.

* European shares continued to drift higher as expectations built that a budget deal in the United States is close, though traders reckoned any positive outcome is largely baked into the price.

* The U.S. Commerce Dept. releases housing starts and permits for November at 1330 GMT. Economists in a Reuters survey forecast 873,000 housing starts in November versus 894,000 in October, and a total of 875,000 building permits in November compared with 868,000 in the prior month.

* FedEx, the No. 2 U.S. package-delivery company, is due to report second-quarter results at 1230 GMT. It is expected to post earnings per share of $1.41 down from $1.57 one year earlier, as a weakening economy leads corporate customers to choose slower, cheaper and less profitable ways of shipping goods.

* Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc , as it makes progress in securing financing, a source familiar with the matter said on Tuesday.

* U.S. securities regulators on Tuesday outlined potential ways to reduce conflicts of interest at the country's largest credit-rating agencies, Moody's Corp , McGraw-Hill Cos Inc's Standard & Poor's, and Fimalac SA's Fitch.

* Google's Motorola Mobility unit cannot assert a patent against Apple Inc which covers a sensor that stops phone users from dialing wrong numbers on touchscreen devices, a U.S. trade judge ruled.

* The Federal Trade Commission is unlikely to finish its investigation before January into whether Google Inc abused its power in the search market, the New York Times reported, citing people briefed on the investigation.

* Oracle Corp's quarterly profit beat Wall Street expectations on strong software sales growth, suggesting that the approach of the "fiscal cliff" has yet to crimp corporate spending on technology.

* Pharma group Pfizer plans to cut about 20 percent of its sales force for primary-care drugs, Bloomberg News reported, as the pharmaceutical company copes with the loss of a patent for top-selling cholesterol drug Lipitor.

* Time Warner Cable , the second-largest cable TV distributor in the United States, said on Tuesday it is planning to drop arts-focused cable channel Ovation, citing its low ratings relative to the cost of carrying the network.

* Accenture, the technology outsourcing and consulting company, reports first quarter results after the market close.

* The Dow Jones industrial average <.dji> rose 115.57 points, or 0.87 percent, to 13,350.96 on Tuesday. The S&P 500 <.spx> gained 16.43 points, or 1.15 percent, to 1,446.79. The Nasdaq Composite <.ixic> added 43.93 points, or 1.46 percent, to 3,054.53.

(Reporting By Francesco Canepa; editing by Patrick Graham)

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Facebook to launch new Snapchat alternative with self-destructing messages

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The Voice's Top Three Give Final Performances in the Competition

TV Watch

The Voice

By Julia Haskins

12/17/2012 at 10:25 PM EST

From left: Judges Adam Levine, Cee Lo Green, Christina Aguilera and Blake Shelton

Trae Patton/NBC

Monday night's The Voice gave the final three contestants three chances to earn fans' votes, as every singer revisited a "breakout" song, sang a new song and performed a duet with his or her coach.

First, however, came a touching tribute to the victims of the Sandy Hook tragedy. While singing Leonard Cohen's "Hallelujah," coaches and singers held up the names of those whose lives were lost on Friday morning.

Team Cee Lo's Nicholas David then kicked off the competition with Jerry Lee Lewis's "Great Balls of Fire." Not able to resist a pun, his coach chimed in on his performance: "Your fire tonight burned this house down," Green said. David later revisited his performance of Bill Withers's "Lean On Me" and joined Green for a duet of Wild Cherry's "Play That Funky Music."

Team Blake's two contestants also had the crowd cheering. Terry McDermott sang his best song, Foreigner's "I Want to Know What Love Is," and took a stab at Mr. Mister's "Take These Broken Wings." But the crowning moment of the night for McDermott was his duet with Blake Shelton as they delivered Aerosmith's "Dude (Looks Like a Lady)." Adam Levine played guitar alongside them, decked out in a long rocker wig.

Cassadee Pope sang "Over You," co-written by her coach and his wife, Miranda Lambert. Pope received huge praise the first time she sang it, but the song about Shelton's late brother had special meaning in the wake of the shootings in Newtown.

"America's heart is heavy, and that's about healing," Shelton said. She also moved the coaches with her take on Faith Hill's "Cry."

"I don't care that you weren't on my team," Levine said. "I am so proud of you and so happy that you're here at this moment." Pope finished the night with Shelton for a duet of Sheryl Crow's "Steve McQueen."

The Voice returns Tuesday, when the season's winner will be named. Who will it be? Tell us in the comments below.

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Experts: No link between Asperger's, violence

NEW YORK (AP) — While an official has said that the 20-year-old gunman in the Connecticut school shooting had Asperger's syndrome, experts say there is no connection between the disorder and violence.

Asperger's is a mild form of autism often characterized by social awkwardness.

"There really is no clear association between Asperger's and violent behavior," said psychologist Elizabeth Laugeson, an assistant clinical professor at the University of California, Los Angeles.

Little is known about Adam Lanza, identified by police as the shooter in the Friday massacre at a Newtown, Conn., elementary school. He fatally shot his mother before going to the school and killing 20 young children, six adults and himself, authorities said.

A law enforcement official, speaking on condition of anonymity because the person was not authorized to discuss the unfolding investigation, said Lanza had been diagnosed with Asperger's.

High school classmates and others have described him as bright but painfully shy, anxious and a loner. Those kinds of symptoms are consistent with Asperger's, said psychologist Eric Butter of Nationwide Children's Hospital in Columbus, Ohio, who treats autism, including Asperger's, but has no knowledge of Lanza's case.

Research suggests people with autism do have a higher rate of aggressive behavior — outbursts, shoving or pushing or angry shouting — than the general population, he said.

"But we are not talking about the kind of planned and intentional type of violence we have seen at Newtown," he said in an email.

"These types of tragedies have occurred at the hands of individuals with many different types of personalities and psychological profiles," he added.

Autism is a developmental disorder that can range from mild to severe. Asperger's generally is thought of as a mild form. Both autism and Asperger's can be characterized by poor social skills, repetitive behavior or interests and problems communicating. Unlike classic autism, Asperger's does not typically involve delays in mental development or speech.

Experts say those with autism and related disorders are sometimes diagnosed with other mental health problems, such as depression, anxiety, bipolar disorder or obsessive-compulsive disorder.

"I think it's far more likely that what happened may have more to do with some other kind of mental health condition like depression or anxiety rather than Asperger's," Laugeson said.

She said those with Asperger's tend to focus on rules and be very law-abiding.

"There's something more to this," she said. "We just don't know what that is yet."

After much debate, the term Asperger's is being dropped from the diagnostic manual used by the nation's psychiatrists. In changes approved earlier this month, Asperger's will be incorporated under the umbrella term "autism spectrum disorder" for all the ranges of autism.

__

AP Writer Matt Apuzzo contributed to this report.

___

Online:

Asperger's information: http://1.usa.gov/3tGSp5

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Stock futures point to higher open

LONDON (Reuters) - Stock futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 rising 0.4 percent. The Dow Jones futures were up 0.2 percent and Nasdaq 100 futures were up 0.4 percent at 4:15 a.m. ET.

Expectations that U.S. politicians were closer to a deal to avoid a looming "fiscal cliff" of steep tax hikes and spending cuts that could hurt the U.S. economy enabled European shares to rise on Tuesday, tracking overnight gains on Wall Street.

The pan-European FTSEurofirst 300 index <.fteu3> was up by 0.4 percent at 1,137.30 points.

Hopes of a "fiscal cliff" deal grew on Monday night as President Barack Obama made a counter-offer to Republicans that included a major change in position on tax hikes for the wealthy, according to a source familiar with the talks.

The Bank of Japan was also set to ease monetary policy this week and consider adopting a 2 percent inflation target no later than in January, sources said, responding to pressure from next Prime Minister Shinzo Abe for stronger efforts to beat deflation.

* AIG

American International Group Inc raised $6.45 billion from the sale of its remaining stake in AIA Group Ltd in Asia's second-largest block sale ever, exiting a business the U.S. insurer started nearly 100 years ago.

* APPLE /GOOGLE

A U.S. judge on Monday denied Apple Inc's request for a permanent injunction against Samsung Electronics' smartphones, depriving the iPhone maker of key leverage in the mobile patent wars.

* WAL-MART

Wal-Mart Stores Inc's Mexican affiliate routinely used bribes to open stores in desirable locations, according to a New York Times investigation published Monday, which cites 19 instances of the retail giant paying off local officials.

* KNIGHT CAPITAL

Electronic trading firm Knight Capital Group is considering two competing acquisition offers following a board meeting on Monday that included presentations from suitors Getco Holding LLC and Virtu Financial LLC, sources familiar with the talks said.

* U.S. Q3 current account deficit figures are due to be released at 8:30 a.m. ET. Economists in a Reuters survey forecast a $103.4 billion deficit versus a deficit of $117.4 billion in Q2.

* Major U.S. companies reporting results include software group Oracle and investment bank Jefferies .

* The Dow Jones industrial average <.dji> rose 100.38 points, or 0.76 percent, to 13,235.39. The Standard & Poor's 500 Index <.spx> advanced by 16.78 points, or 1.19 percent, to 1,430.36, its highest close since October 22. The Nasdaq Composite Index <.ixic> rose 39.27 points, or 1.32 percent, to 3,010.60.

(Reporting by Sudip Kar-Gupta/Chris Pizzey, London MPG Desk, +44 (0)207 542-4441)

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