Argentina markets give back gains after U.S. court stay

By Jorge Otaola and Walter Bianchi

BUENOS AIRES | Fri Aug 23, 2013 4:10pm EDT

BUENOS AIRES (Reuters) - Argentine markets initially rose on Friday after a U.S. appeals court put a hold on injunctions against the government in its legal battle with "holdout" bond investors, but stock and bond price gains were soon erased as concerns over the case persist.

The South American grains-exporting country lost its appeal of a judge's order requiring it to pay $1.33 billion to bondholders who refused to take part in two debt restructurings.

But the 2nd U.S. Circuit Court of Appeals in New York delayed implementing the decision pending a ruling by the U.S. Supreme Court, sparking a brief market rally in Buenos Aires.

"After the appeals court decision was analyzed, the realization set in that Argentina has only bought itself some time," a local stock broker told Reuters, asking not to be named. "So sellers started showing up to take profits."

The U.S. high court is likely to consider whether to hear the case in the fall. If the justices agree to hear the case, a ruling would be issued by the end of June.

"All this does is extend the fight to next year," said Rodolfo Rossi, an economist and former central bank president.

The MerVal .MERV blue-chip stock index ended the day 0.7 percent lower at 3,916.8 points after rising 1.53 percent earlier in the session.

The case still threatens to push Argentina toward a debt default if the country is finally ordered to pay holdouts the 100 cents on the dollar that they are demanding.

President Cristina Fernandez vows never to pay on those terms. She characterizes the holdouts as "vultures" out to profit on her country's catastrophic 2002 bond default.

The holdouts bought their Argentine bonds at steep discounts, refused to restructure the obligations and are demanding repayment at face value.

The international bond market seesawed on news of the appeals court decision, with Argentina's country risk premium initially tightening by 21 basis points and then widening by 43 basis points to 1,066 basis points over comparable U.S. Treasuries, according to JP Morgan's Emerging Markets Bond Index Plus.

The index as a whole was at a much tighter spread of 357 basis points over safe-haven U.S. Treasury paper, showing the market sees Argentina three times as likely as other emerging market countries to default.

If final judgment goes against Argentina and the government nevertheless refuses to pay the holdouts what they want, the courts could block it from paying holders who accepted big writedowns as part of debt restructurings in 2005 and 2010.

Missing interest payments to the holders of restructured bonds would put the country in technical default.

"The appeals court decision means the Argentine government can continue paying bondholders who participated in the restructurings at least until there is a final decision," said Ignacio Labaqui, who analyzes the country for emerging markets consultancy Medley Global Advisors.

The ruling nonetheless marked a potential victory over the long term for holdouts led by NML Capital Ltd, a unit of billionaire hedge fund manager Paul Singer's Elliott Management Corp, and Aurelius Capital Management.

U.S. Circuit Judge Barrington Parker, writing for the three-judge panel, said the court believed "it is equitable for one creditor to receive what it bargained for, and is therefore entitled to, even if other creditors, when receiving what they bargained for, do not receive the same thing."

(Additional reporting by Brad Haynes and Alejandro Lifschitz, writing by Hugh Bronstein; editing by Dan Grebler, Kenneth Barry and Andrew Hay)

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Carol McGiffin quits her day job on Loose Women after ten years

By Jason Chester

PUBLISHED: 03:55 EST, 25 August 2013 | UPDATED: 11:17 EST, 25 August 2013

She became a household name thanks to her daily appearances on Loose Women, but after more than a decade on the panel Carol McGiffin has quit the show for pastures new.

The 53-year-old TV personality was the longest serving member on the panel, but admits she won’t be returning to the long-running ITV show when the new series kicks off later this year.

Speaking to the Sunday People, she said: ‘I’m sure some of you will rejoice but those who might not be so pleased deserve some sort of explanation. 

Bowing out: Carol McGiffin has quit her ten year presenting role on ITV daytime show Loose Women

‘I’d been thinking about it for at least a year. It seems mad to quit one of the best jobs in the world – you talk for an hour with like-minded women and get paid.

‘But I felt I’d completely plundered my private life and exhausted my repertoire of anecdotes to the point of boring myself.’

Carol made 1,172 appearances on the show before bowing out when the 17th series came to an end in June.

Her personal highlights include chats with singers Bryan Ferry and Robbie Williams and a trip to Spain, where she visited the set of sitcom Benidorm – her favourite TV show. 

Familiar faces: Loose Women panelists Carol Vorderman, Lisa Maxwell, Carole McGiffin and Denise Welch chat to actress Kym Lomas, one of hundreds of guests to appear on the show

She added: ‘I had so many laughs, made so many friends. It’s been such a big part of my life.’

Carol is currently following in Loose Women colleague Denise Welch’s footsteps by taking part in Celebrity Big Brother – and she’s already won an unlikely admirer in TOWIE star Mario Falcone.

Speaking in the Diary Room shortly after entering the house, he said: ‘She has got amazing legs for an older woman. Amazing. Her legs are the ideal legs on a woman.

Bit of a gap: Carol McGiffin with fiance Mark Cassidy, who is 23-years her junior

‘It is weird for me. When I am out with my friends they are all boys. Carol is completely different for me, she has come in tonight and got proper p***ed.’

The TV presenter is engaged to Mark Cassidy, who is 22-years her junior, but Mario admitted he still fancied his chances.

‘She is engaged to a 31-year-old which means I am six years out,’ he said. ‘But if her engagement doesn’t work out...Carol, I am single and I am a changed man.

'There have been a few moments tonight where something could have happened but she is an engaged woman.’

Fancying his chances: TOWIE star Mario Falcone has developed a crush on fellow Celebrity Big Brother housemate Carol McGiffin

While Carol has already quit Loose Women, fellow panellist Carol Vorderman could be facing the axe as producers plan to give the show a radical shake-up following a drop in viewing figures.

According to The Sun, show regulars Vorderman, Denise Welch and Jane McDonald have been given short-term contracts with their positions set to come under review in January.

The ITV mainstay is understood to have lost more than 700,000 viewers during the last series.

Under threat: Carol McGiffin has quit Loose Women, but her fellow panelist have reportedly given short term contracts following a steep decline in viewing figures during the last series

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Lamar Odom 'goes missing' after being 'kicked out of the house by Khloe Kardashian' amid claims of drug abuse

By Daily Mail Reporter

PUBLISHED: 14:55 EST, 25 August 2013 | UPDATED: 15:36 EST, 25 August 2013

Lamar Odom has gone missing, TMZ are reporting.

The website claims that people close to the NBA star have been unable to find or contact him for the last 72 hours.

The reports come after it was alleged that his wife Khloe Kardashian threw him out of the house on Wednesday.

'Missing': People close to Lamar Odom have allegedly been unable to find or contact him for the last 72 hours

The couple have been subject to persistent rumours that their marriage is in trouble after Lamar, 33, allegedly cheated on Khloe, 29, with two different women. 

But several sources have told TMZ the real reason behind their marriage crisis is that Khloe reportedly believes that her husband has a drug problem.

Representatives for Lamar did not respond to MailOnline's request for comment.

More problems? It comes after claims Khloe Kardashian has thrown out Lamar after reports of alleged drug use

'Really hard to sit here and listen to people talk s*** about my family! F*** you and shame on you! I'm too protective for this s***!' Khloe tweeted on Sunday.

Earlier this week the Kardashian family allegedly staged an intervention to convince Lamar to return to rehab, but he refused, reports the gossip website.

Khloe urged Lamar in August 2012 to go to rehab and after he entered a San Diego facility she hired private investigators to make sure he didn't leave.

Lamar reportedly constantly threatened to leave the rehab clinic and Khloe visited several times to convince him to stay, but he left after three weeks, sources said.

'Thrown out': Lamar was seen outside the home he shares with Khloe in Calabasas, California on Wednesday

Packed bags: A man was seen loading large amounts of luggage into Lamar's car while the basketball star stood by

Online affirmation: Khloe posted a tweet on Friday citing the importance of strength to survival

Lamar, who won two championships with the Los Angeles Lakers, stayed clean and played well last season for the Los Angeles Clippers, but sources said he resumed using drugs after the season.

Khloe was convinced of recent reports of Lamar's infidelity, but feels his drug abuse has been the main problem, the website reported.

Neither Khloe nor Lamar has contacted a divorce lawyer.

Heartfelt: Lamar posted a tweet last month supporting Khloe as claims of his infidelity surfaced

'Khloe is more concerned about saving Lamar than ending her marriage,' a source told TMZ.

Khloe allegedly tossed Lamar out of the house after the failed intervention, and he was pictured Wednesday as an associated loaded a number of large suitcases into his car in Calabasas, California.

Khloe and Lamar got married in 2009 about a month after meeting each other.

Khloe has recently endured reports that Lamar had an affair with Jennifer Richardson for a year until March 2013 and a six-week fling with lawyer Polina Polonsky at the start of the summer.

Troubled marriage?: Khloe and Lamar, shown in May 2012 in Los Angeles, have been the subject of infidelity rumours in recent weeks

Keeping it spicy: Khloe put on latex and got acrobatic in order to provide husband Lamar with some sexy photos in a recent episode of Keeping Up With The Kardashians

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Wall Street ends up a day after Nasdaq outage, Microsoft jumps

1 of 2. Traders work on the floor of the New York Stock Exchange August 21, 2013.

Credit: Reuters/Brendan McDermid

By Rodrigo Campos

NEW YORK | Fri Aug 23, 2013 4:55pm EDT

NEW YORK (Reuters) - Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.

Microsoft (MSFT.O) shares posted their largest daily percentage gain in more than four years after the head of the world's largest software company, Steve Ballmer, announced he will retire within 12 months.

The stock closed up 7.3 percent at $34.77 and was the largest contributor to the advance on the three major indexes.

"The big news today is the succession at Microsoft, but beyond that it's pretty quiet," said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, New Jersey.

The Dow Jones industrial average .DJI rose 46.77 points or 0.31 percent, to 15,010.51, the S&P 500 .SPX gained 6.54 points or 0.39 percent, to 1,663.5 and the Nasdaq Composite .IXIC added 19.085 points or 0.52 percent, to 3,657.792.

Volume was among the lowest of the year with about 4.9 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, far below the daily average so far this year of about 6.3 billion shares.

Trading volume was only slightly higher than Thursday's 4.4 billion, affected by a technological problem that shut down trading in Nasdaq securities for three hours in the afternoon.

On Friday, Robert Greifeld, chief executive officer of Nasdaq OMX (NDAQ.O) said the exchange resolved the technical problems that led to the halt but could not guarantee there would never be future glitches. Nasdaq shares gained 1.2 percent to close at $30.83.

Friday's gains helped the S&P 500 and Nasdaq Composite end a two-week losing streak, but the Dow posted its third consecutive weekly decline. For the week the Dow fell 0.5 percent, the S&P gained 0.5 percent and the Nasdaq added 1.5 percent.

Economic data showed sales of new single-family homes fell by 13.4 percent in July to an annual rate of 394,000 units, well below expectations of 490,000 units.

The data weighed on homebuilder stocks, with PulteGroup (PHM.N) down 1.6 percent to $16.06 and Toll Brothers (TOL.N) off 3.9 percent to $31.19. The PHLX housing sector index .HGX lost 1.6 percent.

Pandora Media Inc (P.N) slumped 12.9 percent to $18.91 after the Internet radio service said late Thursday that rising expenditures to acquire music and expand its sales force would push fiscal 2014 earnings below analyst expectations.

Aeropostale Inc (ARO.N) tumbled 20.2 percent to $8.76 after the teen apparel retailer forecast a steep third-quarter loss.

Shares of Autodesk (ADSK.O) rallied 7.7 percent to $38.91 after earlier hitting $41.72, its highest level since April 2012.

Roughly two issues rose for every one that fell on the NYSE and on Nasdaq 13 rose for every 11 decliners.

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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Wall Street ends up a day after Nasdaq outage, Microsoft jumps

1 of 2. Traders work on the floor of the New York Stock Exchange August 21, 2013.

Credit: Reuters/Brendan McDermid

By Rodrigo Campos

NEW YORK | Fri Aug 23, 2013 4:55pm EDT

NEW YORK (Reuters) - Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.

Microsoft (MSFT.O) shares posted their largest daily percentage gain in more than four years after the head of the world's largest software company, Steve Ballmer, announced he will retire within 12 months.

The stock closed up 7.3 percent at $34.77 and was the largest contributor to the advance on the three major indexes.

"The big news today is the succession at Microsoft, but beyond that it's pretty quiet," said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, New Jersey.

The Dow Jones industrial average .DJI rose 46.77 points or 0.31 percent, to 15,010.51, the S&P 500 .SPX gained 6.54 points or 0.39 percent, to 1,663.5 and the Nasdaq Composite .IXIC added 19.085 points or 0.52 percent, to 3,657.792.

Volume was among the lowest of the year with about 4.9 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, far below the daily average so far this year of about 6.3 billion shares.

Trading volume was only slightly higher than Thursday's 4.4 billion, affected by a technological problem that shut down trading in Nasdaq securities for three hours in the afternoon.

On Friday, Robert Greifeld, chief executive officer of Nasdaq OMX (NDAQ.O) said the exchange resolved the technical problems that led to the halt but could not guarantee there would never be future glitches. Nasdaq shares gained 1.2 percent to close at $30.83.

Friday's gains helped the S&P 500 and Nasdaq Composite end a two-week losing streak, but the Dow posted its third consecutive weekly decline. For the week the Dow fell 0.5 percent, the S&P gained 0.5 percent and the Nasdaq added 1.5 percent.

Economic data showed sales of new single-family homes fell by 13.4 percent in July to an annual rate of 394,000 units, well below expectations of 490,000 units.

The data weighed on homebuilder stocks, with PulteGroup (PHM.N) down 1.6 percent to $16.06 and Toll Brothers (TOL.N) off 3.9 percent to $31.19. The PHLX housing sector index .HGX lost 1.6 percent.

Pandora Media Inc (P.N) slumped 12.9 percent to $18.91 after the Internet radio service said late Thursday that rising expenditures to acquire music and expand its sales force would push fiscal 2014 earnings below analyst expectations.

Aeropostale Inc (ARO.N) tumbled 20.2 percent to $8.76 after the teen apparel retailer forecast a steep third-quarter loss.

Shares of Autodesk (ADSK.O) rallied 7.7 percent to $38.91 after earlier hitting $41.72, its highest level since April 2012.

Roughly two issues rose for every one that fell on the NYSE and on Nasdaq 13 rose for every 11 decliners.

(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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Argentina markets give back gains after U.S. court stay

By Jorge Otaola and Walter Bianchi

BUENOS AIRES | Fri Aug 23, 2013 4:10pm EDT

BUENOS AIRES (Reuters) - Argentine markets initially rose on Friday after a U.S. appeals court put a hold on injunctions against the government in its legal battle with "holdout" bond investors, but stock and bond price gains were soon erased as concerns over the case persist.

The South American grains-exporting country lost its appeal of a judge's order requiring it to pay $1.33 billion to bondholders who refused to take part in two debt restructurings.

But the 2nd U.S. Circuit Court of Appeals in New York delayed implementing the decision pending a ruling by the U.S. Supreme Court, sparking a brief market rally in Buenos Aires.

"After the appeals court decision was analyzed, the realization set in that Argentina has only bought itself some time," a local stock broker told Reuters, asking not to be named. "So sellers started showing up to take profits."

The U.S. high court is likely to consider whether to hear the case in the fall. If the justices agree to hear the case, a ruling would be issued by the end of June.

"All this does is extend the fight to next year," said Rodolfo Rossi, an economist and former central bank president.

The MerVal .MERV blue-chip stock index ended the day 0.7 percent lower at 3,916.8 points after rising 1.53 percent earlier in the session.

The case still threatens to push Argentina toward a debt default if the country is finally ordered to pay holdouts the 100 cents on the dollar that they are demanding.

President Cristina Fernandez vows never to pay on those terms. She characterizes the holdouts as "vultures" out to profit on her country's catastrophic 2002 bond default.

The holdouts bought their Argentine bonds at steep discounts, refused to restructure the obligations and are demanding repayment at face value.

The international bond market seesawed on news of the appeals court decision, with Argentina's country risk premium initially tightening by 21 basis points and then widening by 43 basis points to 1,066 basis points over comparable U.S. Treasuries, according to JP Morgan's Emerging Markets Bond Index Plus.

The index as a whole was at a much tighter spread of 357 basis points over safe-haven U.S. Treasury paper, showing the market sees Argentina three times as likely as other emerging market countries to default.

If final judgment goes against Argentina and the government nevertheless refuses to pay the holdouts what they want, the courts could block it from paying holders who accepted big writedowns as part of debt restructurings in 2005 and 2010.

Missing interest payments to the holders of restructured bonds would put the country in technical default.

"The appeals court decision means the Argentine government can continue paying bondholders who participated in the restructurings at least until there is a final decision," said Ignacio Labaqui, who analyzes the country for emerging markets consultancy Medley Global Advisors.

The ruling nonetheless marked a potential victory over the long term for holdouts led by NML Capital Ltd, a unit of billionaire hedge fund manager Paul Singer's Elliott Management Corp, and Aurelius Capital Management.

U.S. Circuit Judge Barrington Parker, writing for the three-judge panel, said the court believed "it is equitable for one creditor to receive what it bargained for, and is therefore entitled to, even if other creditors, when receiving what they bargained for, do not receive the same thing."

(Additional reporting by Brad Haynes and Alejandro Lifschitz, writing by Hugh Bronstein; editing by Dan Grebler, Kenneth Barry and Andrew Hay)

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Beyonce Dazzles After Boos At V Festival

Queen of pop Beyonce has dazzled the crowds as she closed the Weston Park leg of the V Festival.

Thousands flocked to the main stage in Staffordshire to see the star, who was sporting a new blonde crop, which she wore wavy.

Despite making the crowd wait 25 minutes until she came on stage, the star wowed them in an array of sparkly costumes.

She belted out hits including Single Ladies, Baby Boy, Crazy In Love and Love On Top before finishing with a rendition of Whitney Houston's I Will Always Love You and Halo.

Fans Natalie Moore, 19 and her boyfriend Adam Johnson, also 19, from Staffordshire said: "She was very good and put on a good show. Lots of dancing, which was good."

However other fans on Twitter were less complimentary about her performance, many angry at having had to wait for her to come on stage.

Viewers at home missed out on the 45-minute show, as Beyonce reportedly refused to give Channel 4 permission to screen her slot.

The singer imposed a ban on unauthorised press pictures during her Mrs Carter tour, with only approved pictures of her London shows being released.

Presenters Edith Bowman and Steve Jones referred to the Beyonce blackout on air during Channel 4's live streaming of the festival.

Also drawing huge crowds on the main stage were headliners Jessie J, who wowed the crowd with a monochrome two-piece, and The Script.

Two Door Cinema Club, Ocean Colour Scene and Paloma Faith were among the day's other acts.

Meanwhile on the Arena stage, Travis lead singer Fran Healy was overwhelmed as fans sang along to classics such as Sing, Flowers In The Window and Turn.

Their new single Moving was also well-received by the crowds, who clapped and cheered, leaving Healy with a tear in his eye.

"Thanks a lot guys. That's beautiful," he said.

Their first new album for five years, called Where You Stand, has just been released.

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The Calling Singer 'Abducted' After Gig

The lead singer of the rock group The Calling has revealed he was abducted, beaten and robbed after performing in Michigan at the weekend.

Alex Band, 32, was left with a spinal fracture, three broken teeth and needed 15 stitches in his chin after the attack outside a shop in Lapeer early on Sunday morning.

The Los Angeles-based group, famous for their song Wherever You Will Go, had performed at a festival on Saturday night.

Detective Sergeant Craig Gormley said in a statement - that did not name Band - that the victim reported two males forced him into a minivan, then assaulted and robbed him before dropping him off at a railway crossing.

In its statement, The Calling said Band was visiting a mini-market after the show when "Alex was grabbed by his shirt and hit from behind".

It said he was beaten with a baton and had a gun put to his face while an attacker demanded his "Hollywood money".

The Calling said Band told his assailants he was "about to be a dad," and one of them said, "we don't kill fathers" before releasing him.

Band acknowledged having past substance abuse problems, but denied rumours that the abduction report was either drug-related or faked.

"I take my rehabilitation very seriously," he said. "I was near death due to this unbelievable situation, and the rumours are categorically false."

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Beyonce Dazzles After Boos At V Festival

Queen of pop Beyonce has dazzled the crowds as she closed the Weston Park leg of the V Festival.

Thousands flocked to the main stage in Staffordshire to see the star, who was sporting a new blonde crop, which she wore wavy.

Despite making the crowd wait 25 minutes until she came on stage, the star wowed them in an array of sparkly costumes.

She belted out hits including Single Ladies, Baby Boy, Crazy In Love and Love On Top before finishing with a rendition of Whitney Houston's I Will Always Love You and Halo.

Fans Natalie Moore, 19 and her boyfriend Adam Johnson, also 19, from Staffordshire said: "She was very good and put on a good show. Lots of dancing, which was good."

However other fans on Twitter were less complimentary about her performance, many angry at having had to wait for her to come on stage.

Viewers at home missed out on the 45-minute show, as Beyonce reportedly refused to give Channel 4 permission to screen her slot.

The singer imposed a ban on unauthorised press pictures during her Mrs Carter tour, with only approved pictures of her London shows being released.

Presenters Edith Bowman and Steve Jones referred to the Beyonce blackout on air during Channel 4's live streaming of the festival.

Also drawing huge crowds on the main stage were headliners Jessie J, who wowed the crowd with a monochrome two-piece, and The Script.

Two Door Cinema Club, Ocean Colour Scene and Paloma Faith were among the day's other acts.

Meanwhile on the Arena stage, Travis lead singer Fran Healy was overwhelmed as fans sang along to classics such as Sing, Flowers In The Window and Turn.

Their new single Moving was also well-received by the crowds, who clapped and cheered, leaving Healy with a tear in his eye.

"Thanks a lot guys. That's beautiful," he said.

Their first new album for five years, called Where You Stand, has just been released.

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The Calling Singer 'Abducted' After Gig

The lead singer of the rock group The Calling has revealed he was abducted, beaten and robbed after performing in Michigan at the weekend.

Alex Band, 32, was left with a spinal fracture, three broken teeth and needed 15 stitches in his chin after the attack outside a shop in Lapeer early on Sunday morning.

The Los Angeles-based group, famous for their song Wherever You Will Go, had performed at a festival on Saturday night.

Detective Sergeant Craig Gormley said in a statement - that did not name Band - that the victim reported two males forced him into a minivan, then assaulted and robbed him before dropping him off at a railway crossing.

In its statement, The Calling said Band was visiting a mini-market after the show when "Alex was grabbed by his shirt and hit from behind".

It said he was beaten with a baton and had a gun put to his face while an attacker demanded his "Hollywood money".

The Calling said Band told his assailants he was "about to be a dad," and one of them said, "we don't kill fathers" before releasing him.

Band acknowledged having past substance abuse problems, but denied rumours that the abduction report was either drug-related or faked.

"I take my rehabilitation very seriously," he said. "I was near death due to this unbelievable situation, and the rumours are categorically false."

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Wall Street flat after selloff, indexes to fall on week

1 of 5. Specialist trader John O'Hara gives a price to Fred DeMarco on the floor of the New York Stock Exchange August 13, 2013.

Credit: Reuters/Brendan McDermid

By Rodrigo Campos

NEW YORK | Fri Aug 16, 2013 10:43am EDT

NEW YORK (Reuters) - Stocks were little changed Friday following the largest one-day drop in almost two months a day earlier, with main indexes on track to post their largest weekly decline in months on worries over the health of consumer spending and corporate profits.

Nordstrom Inc (JWN.N) on Thursday joined the list of consumer companies reporting lower-than-expected revenue, and the luxury department store chain cut its full-year sales and profit forecasts. Its shares fell 2.7 percent to $57.72.

From Wal-Mart (WMT.N) and Gap (GPS.N) to Macy's (M.N) and McDonald's (MCD.N), chains that cater to middle- and lower-income Americans are feeling the pinch of an uneven economic recovery.

Investors are concerned the economic recovery is slower than they had hoped as corporate revenue growth has disappointed even as companies' bottom-lines have hit the mark.

"There's a few bargain hunters out this morning," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey, but "we haven't seen the revenue growth the market was anticipating."

"We are unlikely to see a large-scale correction in the market right now, but it certainly is losing the momentum that took it to strong highs earlier this year," he said.

Adding to concerns, a survey showed U.S. consumers were a bit less optimistic in August as sentiment retreated from last month's six-year high.

The Dow Jones industrial average .DJI fell 9.72 points, or 0.06 percent, to 15,102.47. The S&P 500 .SPX dipped 2.17 points, or 0.13 percent, to 1,659.15. The Nasdaq Composite Index .IXIC edged up 4.61 points, or 0.13 percent, to 3,610.73.

The S&P and Nasdaq were on track to post their largest weekly declines since late June, and the Dow's drop was the largest for a week since late in April.

U.S. Treasuries prices extended a rout that has sent longer-dated yields to their highest in two years as investors contemplate that more solid economic growth will lead the Federal Reserve to begin paring back its $85 billion a month in bond purchases.

The stimulus program has helped lift the equity market to record highs this year, and LibertyView's Meckler said the sharp adjustment in interest rates has made equity investors more cautious.

Data on Friday showed U.S. housing starts and permits for future home construction rose less than expected in July, suggesting that higher mortgage rates could be slowing the housing market's momentum.

U.S. nonfarm productivity rose in the second quarter after a surprise decline in the first, separate data showed.

Green Mountain Coffee Roasters (GMCR.O) shares rose 2.3 percent to $75.60 after Nasdaq OMX said the company will replace Life Technologies (LIFE.O) in the Nasdaq 100 index on August 22.

Pandora Media (P.N) shares jumped 7 percent to $21.25 following a bullish call on the stock from Goldman Sachs.

(Editing by Bernadette Baum)

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Amanda Bynes Sectioned After 'Trouser Fire'

American actress Amanda Bynes has been hospitalised for a mental health evaluation after she was seen with her trousers on fire in the driveway of a home in Los Angeles.

Police who responded to an emergency call said the 27-year-old started the fire herself with petrol and officers concluded she should be detained and evaluated for her own safety.

Andrew Liverpool said he spotted  Bynes as he was driving past.

"It's dark, it's 8.45 and I just see her laying down," he said. "Stomach up and her pant legs on fire, a trail of, you know, fire and gas, and I pull over."

Celebrity gossip website TMZ reported that she was arrested shortly afterwards, having rushed into a store in Thousand Oaks carrying her pet dog drenched in petrol.

Ms Bynes has appeared in wigs at a number of court appearances

Surveillance video from the store purportedly shows her running into an employee and the website quoted the store owner as saying she tried to wash the Pomeranian in a sink before rushing out.

The former Nickelodeon actress has had several recent run-ins with police.

In December, she resolved a hit-and-run case after settling out of court with other drivers and last year she was charged with driving whilst disqualified after she was banned following two further hit-and-run cases.

In May this year she was charged with unlawful possession of marijuana, reckless endangerment and attempted tampering with physical evidence after she allegedly threw a bong out of her apartment window in front of police.

She also pleaded not guilty to drink driving in a separate case.

Bynes has repeatedly turned up for her court appearances in coloured wigs, adding to concern about her activity.

She was one of the biggest actors on children's TV in the 1990s and later won four consecutive Kid’s Choice Awards for best television actress, the first for her role in children's comedy show All That and the others for The Amanda Show.

Bynes, who grew up in Thousand Oaks, also appeared in the films Hairspray, Big Fat Liar and What A Girl Wants.

Before her career began to decline she also starred in several television films.

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Amanda Bynes Sectioned After 'Trouser Fire'

American actress Amanda Bynes has been hospitalised for a mental health evaluation after she was seen with her trousers on fire in the driveway of a home in Los Angeles.

Police who responded to an emergency call said the 27-year-old started the fire herself with petrol and officers concluded she should be detained and evaluated for her own safety.

Andrew Liverpool said he spotted  Bynes as he was driving past.

"It's dark, it's 8.45 and I just see her laying down," he said. "Stomach up and her pant legs on fire, a trail of, you know, fire and gas, and I pull over."

Celebrity gossip website TMZ reported that she was arrested shortly afterwards, having rushed into a store in Thousand Oaks carrying her pet dog drenched in petrol.

Ms Bynes has appeared in wigs at a number of court appearances

Surveillance video from the store purportedly shows her running into an employee and the website quoted the store owner as saying she tried to wash the Pomeranian in a sink before rushing out.

The former Nickelodeon actress has had several recent run-ins with police.

In December, she resolved a hit-and-run case after settling out of court with other drivers and last year she was charged with driving whilst disqualified after she was banned following two further hit-and-run cases.

In May this year she was charged with unlawful possession of marijuana, reckless endangerment and attempted tampering with physical evidence after she allegedly threw a bong out of her apartment window in front of police.

She also pleaded not guilty to drink driving in a separate case.

Bynes has repeatedly turned up for her court appearances in coloured wigs, adding to concern about her activity.

She was one of the biggest actors on children's TV in the 1990s and later won four consecutive Kid’s Choice Awards for best television actress, the first for her role in children's comedy show All That and the others for The Amanda Show.

Bynes, who grew up in Thousand Oaks, also appeared in the films Hairspray, Big Fat Liar and What A Girl Wants.

Before her career began to decline she also starred in several television films.

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GM fires several employees after probe into Tavera recall

DETROIT (Reuters) - General Motors Co fired several employees after an internal probe into a recent recall of its Chevrolet Tavera sport-utility vehicle in India uncovered "violations of company policy," the U.S. automaker said on Friday.

"We take these matters very seriously and hold our leaders and employees to high standards," GM said in a statement. "When those standards are not met, we will take the appropriate action to hold employees accountable."

GM declined to provide more details.

Automotive News reported that Sam Winegarden, GM's vice president for global engine engineering, was dismissed this week along with about 10 other GM powertrain employees in the United States and India.

Earlier this week, GM recalled 114,000 Tavera SUVs built between 2005 and 2013. GM earlier halted production and sale of the Tavera BS3 and Tavera BS4 models.

GM said it took the actions to address issues relating to emissions standards and other regulatory specifications. India's Economic Times newspaper reported that GM told the Indian government that its engineers manipulated emissions tests to comply with government standards.

(Reporting by Deepa Seetharaman; Editing by Tim Dobbyn)

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20 years after Windows 3.11, Linus unveils “Linux for Workgroups”

A couple of years ago, Linus Torvalds was discussing Linux version numbers and said, "I think I will call it 3.11 Linux for Workgroups."

It turns out he wasn't joking. With a release candidate of Linux 3.11 now available, Torvalds has actually named the new version of the kernel "Linux for Workgroups." He even gave it a Windows-themed boot icon featuring Linux's mascot penguin, Tux, holding a flag emblazoned with an old Windows logo. The name "Linux for Workgroups" follows such whimsical past Linux version names as "Pink Farting Weasel," "Killer Bat of Doom," "Erotic Pickled Herring," and "Jeff Thinks I Should Change This, But To What?"

The actual code of Linux 3.11, by the way, comes with improved support for Radeon power management features and support for Intel Rapid Start Technology.

Windows for Workgroups 3.11 was released in August, 1993, about two years after Torvalds created the Linux kernel. An update in 1994 allowed Windows for Workgroups to support TCP/IP networking without a third-party add-on.

"I was part of a Windows system install in 1993 for a mid-sized corporation. At that time, Windows 3.11 was wonderful," one commenter on Hacker News wrote today. "People were amazed by it. There were no writable CDs back then (floppies ruled), but it was being researched and people were excited about the huge storage potential. Things have changed a lot since that time, but some things have stayed the same (red black trees are still red black trees). Microsoft is still a heck of a systems programming shop, but back then, they were God. The Linux name change is a fitting tribute to Windows system programmers everywhere."

Windows 3.11 lived a long life, surviving well after the massively popular Windows 95 and even Windows XP. In November 2008, Ars wrote that "Windows for Workgroups 3.11 is finally, officially, totally dead at the age of 15. ... Long after it was supplanted on the desktop by the likes of NT 4.0 and/or Windows 95, Windows for Workgroups 3.11 lived on in the embedded market, powering various point-of-sale terminals, cash registers, and long-haul entertainment systems in certain Virgin and Quantas jets. All of this has come to an end, and Microsoft will no longer sell embedded licenses for the operating system."

View the original article here

20 years after Windows 3.11, Linus unveils “Linux for Workgroups”

A couple of years ago, Linus Torvalds was discussing Linux version numbers and said, "I think I will call it 3.11 Linux for Workgroups."

It turns out he wasn't joking. With a release candidate of Linux 3.11 now available, Torvalds has actually named the new version of the kernel "Linux for Workgroups." He even gave it a Windows-themed boot icon featuring Linux's mascot penguin, Tux, holding a flag emblazoned with an old Windows logo. The name "Linux for Workgroups" follows such whimsical past Linux version names as "Pink Farting Weasel," "Killer Bat of Doom," "Erotic Pickled Herring," and "Jeff Thinks I Should Change This, But To What?"

The actual code of Linux 3.11, by the way, comes with improved support for Radeon power management features and support for Intel Rapid Start Technology.

Windows for Workgroups 3.11 was released in August, 1993, about two years after Torvalds created the Linux kernel. An update in 1994 allowed Windows for Workgroups to support TCP/IP networking without a third-party add-on.

"I was part of a Windows system install in 1993 for a mid-sized corporation. At that time, Windows 3.11 was wonderful," one commenter on Hacker News wrote today. "People were amazed by it. There were no writable CDs back then (floppies ruled), but it was being researched and people were excited about the huge storage potential. Things have changed a lot since that time, but some things have stayed the same (red black trees are still red black trees). Microsoft is still a heck of a systems programming shop, but back then, they were God. The Linux name change is a fitting tribute to Windows system programmers everywhere."

Windows 3.11 lived a long life, surviving well after the massively popular Windows 95 and even Windows XP. In November 2008, Ars wrote that "Windows for Workgroups 3.11 is finally, officially, totally dead at the age of 15. ... Long after it was supplanted on the desktop by the likes of NT 4.0 and/or Windows 95, Windows for Workgroups 3.11 lived on in the embedded market, powering various point-of-sale terminals, cash registers, and long-haul entertainment systems in certain Virgin and Quantas jets. All of this has come to an end, and Microsoft will no longer sell embedded licenses for the operating system."

View the original article here

20 years after Windows 3.11, Linus unveils “Linux for Workgroups”

A couple of years ago, Linus Torvalds was discussing Linux version numbers and said, "I think I will call it 3.11 Linux for Workgroups."

It turns out he wasn't joking. With a release candidate of Linux 3.11 now available, Torvalds has actually named the new version of the kernel "Linux for Workgroups." He even gave it a Windows-themed boot icon featuring Linux's mascot penguin, Tux, holding a flag emblazoned with an old Windows logo. The name "Linux for Workgroups" follows such whimsical past Linux version names as "Pink Farting Weasel," "Killer Bat of Doom," "Erotic Pickled Herring," and "Jeff Thinks I Should Change This, But To What?"

The actual code of Linux 3.11, by the way, comes with improved support for Radeon power management features and support for Intel Rapid Start Technology.

Windows for Workgroups 3.11 was released in August, 1993, about two years after Torvalds created the Linux kernel. An update in 1994 allowed Windows for Workgroups to support TCP/IP networking without a third-party add-on.

"I was part of a Windows system install in 1993 for a mid-sized corporation. At that time, Windows 3.11 was wonderful," one commenter on Hacker News wrote today. "People were amazed by it. There were no writable CDs back then (floppies ruled), but it was being researched and people were excited about the huge storage potential. Things have changed a lot since that time, but some things have stayed the same (red black trees are still red black trees). Microsoft is still a heck of a systems programming shop, but back then, they were God. The Linux name change is a fitting tribute to Windows system programmers everywhere."

Windows 3.11 lived a long life, surviving well after the massively popular Windows 95 and even Windows XP. In November 2008, Ars wrote that "Windows for Workgroups 3.11 is finally, officially, totally dead at the age of 15. ... Long after it was supplanted on the desktop by the likes of NT 4.0 and/or Windows 95, Windows for Workgroups 3.11 lived on in the embedded market, powering various point-of-sale terminals, cash registers, and long-haul entertainment systems in certain Virgin and Quantas jets. All of this has come to an end, and Microsoft will no longer sell embedded licenses for the operating system."

View the original article here