European shares stabilize, economic data eyed (Reuters)

LONDON (Reuters) ? European shares and the euro gradually recovered on Monday from early losses triggered by the mass downgrade of euro zone sovereign ratings last week, but they still looked vulnerable amid rising fears of a disorderly Greek debt default.

Markets had already reacted to the downgrades on Friday, and European assets steadied by Monday afternoon, but activity was limited with U.S. markets closed and the problems in the region's debt markets continued to weigh on sentiment.

The European Central Bank more than tripled its bond purchases in the week to January 13 to calm market fears and halt the rise in yields, spending 3.77 billion euros compared with 1.1 billion the previous week, data showed on Monday.

However, the glimmer of hope which had emerged after solid bond auctions by Italy and Spain last week, and a view that the S&P move on ratings had been well telegraphed, helped steady market nerves though confidence could quickly ebb.

"If we were to see the start of a downward spiral, and any further loss of confidence in the euro zone started to materialize, that would have a broader negative impact for the euro and riskier currencies in general," said Lee Hardman, currency economist at Bank of Tokyo-Mitsubishi UFJ.

The euro was up 0.3 percent against the dollar at $1.2673 in late European trade in thin trading but was still seen vulnerable to a test of Friday's 17-month low of $1.2624.

The FTSEurofirst 300 (.FTEU3) index of top European shares ended up about 0.8 percent at 1,025.64 points in low volume while the main euro zone bank stock index (.SX7E) reversed some heavy early losses on fears the sector could be the next target for rating cuts to end up 0.3 percent.

World shares overall (.MIWD00000PUS) recovered from losses seen in Asian trade to be just 0.1 percent higher.

DEBT FEARS REMAIN

Growing nervousness saw Europe's commercial banks park almost half a trillion euros at the European Central Bank, the highest on record, as the mix of debt crisis worries and a recent giant injection of ECB cash left banks awash with money but too scared to lend it.

Market attention was likely to switch on Tuesday to the state of the euro zone's economy with the latest ZEW survey on the health of the giant German economy due.

Germany's economy contracted by about 0.25 percent in the fourth quarter as growth slowed in the second half of last year, according to an estimate by the statistics office.

Berlin will cut its forecast for 2012 economic growth to just 0.75 percent yet expects the jobless rate to decline further to 6.8 percent on an annual basis a German newspaper, Ruhr Nachrichten, reported on Monday.

Investors also await Chinese GDP data to gauge the outlook for growth in the world's second-largest economy with forecasts calling for a fourth successive quarterly slowdown in growth to around 8.7 percent from 9.1 percent previously.

Debt markets are focused on Greece with senior officials from the government due in Washington for meetings with the International Monetary Fund to try to break a deadlock in debt swap talks that has prompted the fears of an unruly default.

The cost of insuring Italian, Spanish and other euro zone government debt against default rose on the S&P ratings cuts, while shorter-dated UK government bond yields fell. Safe-haven German government bonds retraced gains seen on Friday after reports first emerged of the S&P action.

The ECB was also reported by traders to be active in buying Italian government bonds to keep a lid on rising yields.

Italian five-year bond yields, which had been around 6 percent in early trade, dropped to around 5.77 percent on the reports of ECB buying.

The cost of insuring five-year Italian bonds rose to around 515 basis points from under 500 basis points on Friday, meaning it costs 515,000 euros to protect 10 million euros of exposure to Italian debt.

German Bund futures were slightly lower at 139.91, having hit a record high of 140.23 on Friday. Ten-year cash yields were little changed at 1.772 percent.

Italy takes a break from debt sales this week, but France plans to sell up to 8 billion euros of debt on Thursday and Spain comes to the market with sales of 2016, 2019 and 2022 bonds..

Yields on French treasury bills eased marginally on Monday in the first test of investor appetite for the country's debt since it was stripped of its coveted triple-A credit rating on Friday.

Concerns that European financial troubles will drag down global growth and sap appetite for commodities weighed on industrial metals such as copper, while spot gold held steady at around $1,645 an ounce.

However, oil futures rose on Monday on growing tension between Saudi Arabia and Iran, after the Islamic state told its Gulf Arab neighbors not to make up any shortfall caused by an embargo on its crude oil exports.

The latest threat comes as leaders of top Asian buyers of Iranian oil - China, Japan and South Korea - tour alternative Middle East suppliers while the United States pressures nations to stop importing oil from the Islamic Republic.

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Euro-zone sovereign ratings: http://r.reuters.com/maf75s

Regional equity risk premium:http://link.reuters.com/mum95s

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(Additional reporting by Jessica Mortimer and Blaise Robinson; Editing by Catherine Evans/Patrick Graham/Susan Fenton)

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/nm/20120116/bs_nm/us_markets_global

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Video: ?Ryan has broken through the barrier?

Ryan Langston?s parents, Jim and Amanda and his teacher Ellen Narucki, on the beautiful little boy and why he?s making so many people so proud.

Related Links:

http://twitter.com/nbcnightlynews

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Hollywood preps for Golden Globe party (Reuters)

LOS ANGELES (Reuters) ? Hollywood prepared for its annual party and prize giveaway, the Golden Globe Awards, on Sunday but as much as Tinseltown's eyes will be fixed on which films and stars will be honored, its ears will be listening for barbs from show host Ricky Gervais.

The British comedian returns to the Golden Globe stage for the third straight year to host the champagne-soaked bash where prizes are given for best films, TV shows, actors and actresses in precursor of the more staid Oscars. A-list stars from George Clooney to Angelina Jolie are expected to attend.

But last year Gervais ruffled the feathers of many stars in attendance, making fun of poor choices among several nominees, like box office bomb "The Tourist," by the very group that gives out the honors and hired him to entertain -- the Hollywood Foreign Press Association (HFPA).

His often disparaging comments earned the wrath of some celebrities and critics, and initially the HFPA said he would not return. But Gervais was eventually hired back by the organization's chief who cheekily observed that he'd been a very "naughty boy" in 2011. Now, Hollywood is both wary and excited at the prospect of what he might say.

While Gervais hasn't given away any of his jokes yet, he did tell reporters at a gathering of TV critics this past Friday in Los Angeles that his verbal jabs were already written down.

"I have specific targets. I've written the gags, although targets isn't the word I'd use -- subjects maybe," he said.

"I've got nothing against anyone in the room, I've worked with many of them, I like many of them, I admire most of them. They're just gags. I'm not trying to hurt anyone's feelings or give them a bad name or undermine the moral fabric of America. I'm a comedian, I rather they laugh than gasp but I'll cherish the laughs along with the gasps," Gervais added.

The Golden Globe Awards are given out by the roughly 90 HFPA members at a gala dinner and ceremony in Beverly Hills that is annually among the key events during Hollywood's awards season because of the media exposure it brings.

OSCAR INFLUENCE?

Honors bestowed on TV shows often lure audiences that can turn a little-seen program into a hit, and films and stars that are declared Golden Globe winners often go on to compete for Oscars, the world's top movie prizes given out later this year.

But veteran Hollywood awards watcher Tom O'Neil of website Goldderby.com notes that in recent years, as more awards shows have aired on TV and Oscar organizers have made changes to their nomination process, the HFPA's influence has waned.

"Six of the last seven years they haven't picked the same best movie. 'Slumdog Millionaire' is the only one," said O'Neil.

Silent-era film "The Artist," a romantic tale shot in the style of old Hollywood, heads into Sunday night's ceremony with six nominations, more than any other film, including best comedy or musical. Late last week, it was named 2011's best movie at the Critics' Choice Awards and appears a good bet to take the Golden Globe for best musical or comedy.

HFPA voters also pick a winner of best film drama, and "The Descendants," starring Clooney as a father trying to keep his family together during a crisis, has the strongest shot at walking off a victor, O'Neil said. Although civil rights drama "The Help" also has been well-received in Hollywood this year.

Among actors and actresses, Meryl Streep looks to be a good pick to claim the trophy for best actress in a drama playing former British Prime Minister Margaret Thatcher in "The Iron Lady." She faces a challenge from Viola Davis in "The Help," after Davis also picked up the Critics' Choice trophy.

Michelle Williams competes for best actress in a movie musical or comedy in "My Week with Marilyn" against the likes of "Saturday Night Live" comedian Kristen Wiig for "Bridesmaids."

Clooney with "Descendants" takes on Leonardo DiCaprio for "J. Edgar" and Brad Pitt in "Moneyball" in the best drama actor category, and "Artist" star, Frenchman Jean Dujardin, is the odds-on bet for best actor in a film musical or comedy.

Among TV shows, thriller "Homeland" is one of the new shows competing for best drama, taking on others such as "American Horror Story" and "Game of Thrones." Best comedy nominees feature past favorites such as "Glee" and "Modern Family."

The three-hour Golden Globe Awards show airs live on NBC on Sunday night, starting at 8 p.m. EST (0100 GMT on Monday).

(Reporting By Bob Tourtellotte; Editing by Sandra Maler)

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/nm/20120115/en_nm/us_goldenglobes

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Defending champion Clijsters wins opening match

MELBOURNE, Australia (AP) ? Kim Clijsters began her bid to defend the Australian Open title when she beat qualifier Maria Joao Koehler 7-5, 6-1 in a first-round match Monday.

Clijsters broke Koehler's serve at love in the final game of the opening set.

That started a 13-point run for Clijsters that included three double-faults by Koehler in the second game of the second set to give the Belgian a 2-0 lead.

Clijsters has not lost in the first round of a major since the 2000 French Open.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-01-16-TEN-Australian-Open-Clijsters/id-cde70b43e6b64c60a2d0d2a9ada8d4b1

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White House Releases More E-Mails on Solyndra

[unable to retrieve full-text content]House Republicans received 66 pages of correspondence on Solyndra, including some related to a loan guarantee and layoffs.

Source: http://feeds.nytimes.com/click.phdo?i=1aeca9bdd76bc581c940a0f415bd2bc4

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MLB owners delay sale of Padres to Moorad

/

By BOB BAUM

updated 7:44 p.m. ET Jan. 12, 2012

PARADISE VALLEY, Ariz. - Major league owners have put off approval of sale of the San Diego Padres to Jeff Moorad.

Commissioner Bud Selig said Thursday that baseball's ownership committee and executive council unanimously decided to defer action "to get more clarity and technical information."

Moorad, who could be seen talking with Selig on a balcony outside the owners meeting Thursday, said he and the commissioner tried to work out an "11th-hour" agreement to get the matter presented to the full session of the 30 owners but were unable to do so.

"We'll support the process and are proud to be part of the process and look forward to addressing some technical questions and moving along," Moorad said..

Moorad was a prominent sports agent before becoming a minority owner first with the Arizona Diamondbacks, then with the Padres. His group owns 49 percent of the Padres and is set to buy the remainder from majority owner John Moores.

Selig pulled the sale from Thursday's agenda, a move that upset Moores so much that he was the only one of the 30 owners to vote against Selig's two-year contract extension, according to a person in the room who asked not to be identified because the details were supposed to remain confidential.

Selig said he wants the questions involved in the sale to be resolved "expeditiously."

"There's no hidden agenda here. There's nothing else," he said. "There were a lot of economic concerns. The most important thing that we do is bringing in new owners, so we have really become very, very fastidious about the economics of who can make it. And I'm not suggesting there were any negatives. There were just questions that we didn't have time to answer here."

Selig said Jonathan Mariner, MLB's executive vice president for finance, "frankly had been raising questions to me since last Friday" about the sale. Those questions intensified during meetings of the ownership committee and executive council.

"Both groups really did their homework," Selig said. 'They were ardent supporters of Jeff and everything else, but there were questions they kept saying, 'Well, we need answer to that,' so I've already instructed our guys to meet with them and begin to develop answers, and they'll come back to us."

Moorad said he was not surprised that nothing was resolved on Thursday.

"We got the word that they had some technical questions," he said. "We tried to resolve them this morning. It just wasn't possible to work that quickly, and that's it. I'm happy to defer and have it taken up at a more appropriate time."

Selig said it wouldn't be necessary to wait until the owners' next scheduled meeting in New York in May to approve the sale, that it could be done by conference call.

Moorad also said that the franchise wouldn't necessarily have to have the sale complete in order to sign a crucial television deal with Fox before the season begins.

Selig said the fact that Moorad was once an agent, on the other side of the bargaining table with owners, had nothing to do with delaying the sale.

"This was about economics," he said. "This was not about personalities."

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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HBT: Rangers meeting with Fielder

HBT: Prince Fielder is meeting with the Rangers. Fielder in that ballpark and in the middle of a lineup that scored 855 runs last season would be scary

Source: http://nbcsports.msnbc.com/id/45976510/ns/sports-baseball/

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Stephen Colbert mocks U.S. politics (Reuters)

(Reuters) ? Late night comedian Stephen Colbert has dropped a fat hint that he is exploring a run in the Republican presidential primary in South Carolina, although the deadline has passed to get on the ballot.

But that may not be the point. His announcement on Thursday's satirical "The Colbert Report" on Comedy Central gave Colbert an avenue for poking fun at how well-funded political action committees, operating at arm's length from a candidate, can spend to support that candidate.

The Republican presidential primary in South Carolina will be held on January 21, and political experts say it could help seal frontrunner Mitt Romney's hold on the nomination.

To a cheering studio audience, Colbert joked on his show that "for over a day now" residents of South Carolina had been "crying out for someone who can restore our nation's former greatness to its current perfection."

"Well America, that someone is now," he said. "I am proud to announce that I am forming an exploratory committee to lay the groundwork for my possible candidacy for the president of the United States of South Carolina."

The deadline to get on the ballot in the Republican primary in South Carolina was November 1, and election officials say write-in candidates are not allowed.

Yet one opinion poll has Colbert receiving the support of 5 percent of likely Republican primary voters in South Carolina, ahead of genuine candidate Jon Huntsman at 4 percent.

"I don't think he's trying to disrupt the primary, but this is satire that he's been doing throughout the campaign by, in his mind, trying to show some of the absurdities of the election law," said Robert Oldendick, executive director of the Institute for Public Service and Policy Research at the University of South Carolina.

Colbert publicly flirted with the idea of running for U.S. president in 2008 but he never got on the ballot.

'DEFINITELY NOT COORDINATING'

Colbert's announcement on Thursday, complete with falling balloons, came after he and Comedy Central colleague Jon Stewart, host of "The Daily Show," signed paperwork on television to transfer direction of the Colbert Super Political Action Committee (PAC) over to Stewart.

Stewart said he was renaming the group "The Definitely Not Coordinating with Stephen Colbert Super PAC."

Super PACs are amped-up PACs that have mushroomed following a landmark U.S. Supreme Court ruling in 2010 that made it easier for entities such as corporations and unions to pour money into campaigns, as long as they do not coordinate with a candidate.

They have long been a target for mockery by Colbert.

"From now on," Colbert told Stewart on Thursday, "I will just have to talk about my plans on my television show and take the risk that you might watch it."

Super PACs have become an important part of the election. In particular, Republican presidential contender Newt Gingrich has complained about negative ads from a PAC he said is run by former staff members of Romney.

The PAC that Colbert created appears to be gearing up to get involved in South Carolina. ABC News reported on Friday that the group has begun buying airtime in the state.

But it is too late for Colbert to get on the ballot either in South Carolina or many other states, political experts said.

"If he could get on the ballot in any state, at that point the nomination will be sealed. They won't really have any impact," Oldendick said.

(Reporting By Alex Dobuzinskis; Editing by Jill Serjeant)

Source: http://us.rd.yahoo.com/dailynews/rss/celebrity/*http%3A//news.yahoo.com/s/nm/20120113/people_nm/us_stephencolbert_election

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