Yen near lows vs dollar, Asian shares ease in subdued trade

TOKYO (Reuters) - The yen hovered near its lows against the dollar and Tokyo stocks jumped closer to a 33-month high on Tuesday after markets took comments from a U.S. official as approval for Japan to pursue anti-deflation policies that weaken the yen.

U.S. Treasury Undersecretary Lael Brainard said on Monday the United States supports Japanese efforts to end deflation, but she noted that the G7 has long been committed to exchange rates determined by market forces, "except in rare circumstances where excess volatility or disorderly movements might warrant cooperation.

"Her (Brainard's) comments gave confidence to the market. It was surprising, and was taken as the Obama administration giving a green light to 'Abenomics'," said Takuya Takahashi, a market analyst at Daiwa Securities.

Japan has faced some overseas criticism that it is intentionally trying to weaken the yen with monetary easing, but talk of a so-called currency war was dialled back ahead of a Group of 20 meeting in Moscow on Friday and Saturday.

G20 officials said on Monday the Group of Seven nations are considering a statement this week reaffirming their commitment to "market-determined" exchange rates.

European Central Bank council member Jens Weidmann also said the euro was not overvalued at current levels.

The dollar slipped 0.3 percent to 94.185 yen after marking its highest level since May 2010 of 94.465 on Monday. The euro eased 0.3 percent to 126.12 yen after rising more than 2 percent on Monday. It hit its highest since April 2010 of 127.71 yen last week.

"I think the yen's weakening is a function of (playing)catch-up," and not Japan resorting to deliberate devaluation of its currency, said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co. in New York. "It's the market's way of saying: 'We're convinced there is a movement afoot to reinflate Japan.'"

The yen is pressured by anticipation that Prime Minister Shinzo Abe will endorse a far more dovish Bank of Japan regime when the current leadership's term ends next month, although the BOJ is expected to refrain from taking fresh easing steps when it meets this week.

Share trading was subdued with many regional bourses shut for holidays. Encouraging trade data from China late last week was lending support to sentiment but non-Japan markets lacked momentum as investors awaited key events such as the U.S. president's State of the Union address for trading cues.

European markets are seen inching lower, with the Euro STOXX 50 index futures down 0.1 percent. A 0.2 percent drop in U.S. stock futures also suggested a soft Wall Street start. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> fell 0.1 percent, with Australian shares closing flat ahead of corporate earnings due this week.

The weaker yen in turn hoisted the Nikkei stock average <.n225> to close 1.9 percent higher on improving earnings prospects for exporters. <.t/>

Trading resumed in Japan and South Korea but markets in Singapore, Hong Kong, mainland China, Malaysia and Taiwan remained closed.

STATE OF UNION ADDRESS

Currency and equities markets were also looking ahead to President Barack Obama's State of the Union address later on Tuesday night, for any signs of a deal to avert automatic spending cuts due to take effect March 1.

"We believe that the G20's take on currency wars, Mr. Obama's upcoming state of the union address, and data on the current condition of the U.S. economy should help markets assess where the global recovery stands and where we are heading," Barclays Capital said in a research report.

U.S. and Chinese data last week lifted the tech-focused Nasdaq Composite Index <.ixic> to a 12-year closing high and the Standard & Poor's 500 Index <.spx> to a five-year peak on Friday.

Financial markets showed a muted reaction to the news that North Korea has conducted a nuclear test.

"The test was not something that makes your heart pound as much as a pressing situation between Iran and Israel," said Kaname Gokon, research manager at brokerage Okato Shoji, referring to the threat of possible military action to prevent Iran from developing nuclear weapons.

U.S. crude futures edged down 0.1 percent to $96.90 a barrel while Brent steadied around $118.

Spot gold stayed near a one-month low.

(Additional reporting by Ayai Tomisawa, Lisa Twaronite and Osamu Tsukimori in Tokyo; Editing by Chris Gallagher)

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Jayhawks back to winning ways with rout of K-State

LAWRENCE, Kan. (AP) — Bill Self was the first to acknowledge that folks around Kansas had grown spoiled.

It's only natural when one of the marquee programs in college basketball, one built upon iconic names such as James Naismith and Phog Allen, rattles off eight consecutive conference championships and throws in another national title along the way.

So when the Jayhawks scuffled to three straight losses, including an embarrassing defeat at TCU, it seemed as if the world was collapsing around the walls of Allen Fieldhouse.

"I think we just got spoiled, just like everyone around here does, that this can't happen to us," Self said matter-of-factly, "and we just let it happen."

On Monday night, they finally put an end to it.

Ben McLemore scored 30 points on his 20th birthday, Jeff Withey dominated in the paint and the No. 14 Jayhawks routed No. 10 Kansas State 83-62 to forge a tie for first place in the Big 12 between the bitter in-state rivals.

"I think it'll help us down the road, which is obviously the most important," Self said of the morass, which in reality had extended all the way back to the start of conference play. "We still control our own destiny, even though it will be difficult, without question."

One thing the Jayhawks (20-4, 8-3) have to their advantage is two wins over the Wildcats (19-5, 8-3), who had used a four-game winning streak to take over first place.

Rodney McGruder had 20 points and Angel Rodriguez added 17 for the Wildcats on Monday night, but they never seemed to be in the game despite entering the Phog as the higher-ranked team for the first time since Feb. 20, 1982.

The Jayhawks used two big runs in the first half to take a 47-29 lead at the break, and then thwarted every rally that the veteran Wildcats tried to muster down the stretch.

The result has become predictable: Kansas won for the 11th time in the last 12 games between the rivals, and for the 46th time in their last 49 meetings, prompting the student section to chant "This is our state!" once again in the closing minutes.

"Last week is over. We're going to learn from that," Withey said. "We met so many times and we talked about that so many times, and it's not going to happen again."

Most of the Jayhawks' struggles the past two weeks have centered on their offense, which had produced just 13 points in the first half in that loss to TCU last Wednesday night.

That wasn't much of a problem against the Wildcats.

McLemore, Kansas' star freshman, was 9 of 13 from the field and 6 of 10 from 3. Withey had 17 points, 10 boards and five blocked shots. Kevin Young had 13 points and Travis Releford 10.

Even backup guard Naadir Tharpe got into the act with seven points, eight assists and only one turnover, putting an exclamation mark on the quintessential get-right kind of game for Kansas.

"In the game of basketball, or any sport, it's not always who you're playing but when you're playing them," Kansas State coach Bruce Weber said. "They had a very tough week. They probably hung their head for a while. They got their head up. It's always a good remedy to come home."

Young got the Jayhawks off to a fast start with a dunk off a nifty feed from Tharpe, one of six assists he had in the first half. Withey was the recipient of Young's feed on the next trip, and McLemore's 3-pointer from the wing forced the Wildcats to call time out.

It didn't do much to ebb the tide.

Kansas used a 14-3 run to gain control, and then a 12-3 charge fueled by Tharpe and McLemore to take a 40-19 lead with 3:26 remaining in the first half.

Kansas ended up shooting 58.6 percent from the field, and 5 of 10 from beyond the arc, in building a 47-29 halftime advantage. It was the most points the offensively troubled Jayhawks had scored in a half since putting up 53 in the first half against American on Dec. 29.

"We just played as a team," McLemore said. "Went out there and gave it our all. It started on the defensive end. We got some stops and created on the offensive end."

Kansas State drew within 58-43 with 14:04 left, but Withey snuffed out the comeback.

The reigning Big 12 defensive player of the year swatted away a shot by McGruder and, moments later, threw down a massive dunk over Jordan Henriquez — a fellow 7-footer — before finishing off the three-point play. Withey then rejected McGruder at the other end, and Travis Releford had the putback that restored the Jayhawks' 20-point lead at 63-43 with 11:59 to go.

The Jayhawks put the game on cruise control down the stretch, giving Weber — who once followed Self as the man in charge at Illinois — his third loss in three tries against Kansas, and the Wildcats their sixth straight defeat in Lawrence.

Talk about things getting back to normal.

"First of all, losing three in a row is not — I understand it's not forgivable. It's a terrible, terrible deal. But what we're going through is what 99 percent of teams in America go through," Self said. "There's only 1 percent that doesn't go through this kind of stretch. And we're spoiled because it's been a long time since we went through one of these stretches."

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NASA Launching Powerful Landsat Earth-Observation Satellite Today

NASA‘s latest Earth-observation satellite is set to blast off today (Feb. 11), continuing a venerable program that has been monitoring environmental change and resource use for more than four decades.

The Landsat Data Continuity Mission is scheduled to launch today at 1:02 p.m. EST (1802 GMT/10:02 a.m. PST) atop an Atlas 5 rocket from Vandenberg Air Force Base in California. The LDCM spacecraft will track changes in forest cover, agricultural output and urban sprawl, among other things, adding to a Earth-observation record that has been growing continuously since Landsat 1 lifted off in July 1972.

“LDCM will be the best Landsat spacecraft yet, in terms of improved capabilities and the amount of data returned,” mission program executive David Jarrett, of NASA headquarters in Washington, D.C., told reporters Friday (Feb. 8) in a prelaunch press briefing. “LDCM will continue the Landsat legacy well into the future.”

The $ 855 million LDCM spacecraft is the eighth satellite in the history of the Landsat program, which is jointly run by NASA and the U.S. Geological Survey. USGS will take over operation of the craft after launch and some on-orbit checkouts, at which point it will be renamed Landsat 8. [Photos: The Next Landsat Earth-Observing Spacecraft]

Landsat 8 will double the number of functional Landsat spacecraft, joining Landsat 7, which launched in April 1999. (Landsat 5 recently retired after scrutinizing Earth’s surface for nearly 29 years.)

The SUV-size Landsat 8 will zip around Earth at an altitude of 438 miles (705 kilometers), staring down from a polar orbit with two sensitive instruments. The Operational Land Imager (OLI) will collect data in visible, near infrared and shortwave infrared wavelengths, while the Thermal Infrared Sensor (TIRS) will measure surface temperatures.

By tracking forest destruction, water use, urban expansion, glacial retreat and other fast-accelerating phenomena, Landsat 8 will help scientists and policymakers better understand how Earth’s seven billion people are affecting the planet, researchers said.

“All of these changes are currently occurring at rates unprecedented in human history, due to an increasing population, advancing technology and climate change,” said mission project scientist Jim Irons, of NASA’s Goddard Space Flight Center in Greenbelt, Md. “We will be able to monitor these changes — to continue to observe these changes — from LDCM, from the best Landsat satellite ever launched.”

Landsat 7 has enough fuel to stay in an operational orbit through 2016, Irons said. The Landsat 8 spacecraft and the OLI instrument have design lives of five years, and the TIRS sensor was built to last at least three years, he added. The satellite has enough fuel to stay in its desired orbit for at least a decade.

“We hope that the spacecraft and the instruments will last well beyond their design lives, and we can continue to collect data for at least 10 years,” Irons said.

Follow SPACE.com senior writer Mike Wall on Twitter @michaeldwall or SPACE.com @Spacedotcom. We’re also onFacebook and Google+. 

Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Why pope will long be remembered

Tim Stanley says Pope Benedict will be seen as an important figure in church history.

STORY HIGHLIGHTS

• Timothy Stanley: Benedict XVI's resignation is historic since popes usually serve for life


• He says pope not so much conservative as asserting church's "living tradition"


• He backed traditionalists, but a conflicted flock, scandal, culture wars a trial to papacy, he says


• Stanley: Pope kept to principle, and if it's not what modern world wanted, that's world's problem

Editor's note: Timothy Stanley is a historian at Oxford University and blogs for Britain's The Daily Telegraph. He is the author of "The Crusader: The Life and Times of Pat Buchanan."

(CNN) -- Journalists have a habit of calling too many things "historic" -- but on this occasion, the word is appropriate. The Roman Catholic Church is run like an elected monarchy, and popes are supposed to rule until death; no pope has stepped down since 1415.

Therefore, it almost feels like a concession to the modern world to read that Benedict XVI is retiring on grounds of ill health, as if he were a CEO rather than God's man on Earth. That's highly ironic considering that Benedict will be remembered as perhaps the most "conservative" pope since the 1950s -- a leader who tried to assert theological principle over fashionable compromise.

Timothy Stanley

The word "conservative" is actually misleading, and the monk who received me into the Catholic Church in 2006 -- roughly a year after Benedict began his pontificate -- would be appalled to read me using it. In Catholicism, there is no right or left but only orthodoxy and error. As such, Benedict would understand the more controversial stances that he took as pope not as "turning back the clock" but as asserting a living tradition that had become undervalued within the church. His success in this regard will be felt for generations to come.

He not only permitted but quietly encouraged traditionalists to say the old rite, reviving the use of Latin or receiving the communion wafer on the tongue. He issued a new translation of the Roman Missal that tried to make its language more precise. And, in the words of one priest, he encouraged the idea that "we ought to take care and time in preparing for the liturgy, and ensure we celebrate it with as much dignity as possible." His emphasis was upon reverence and reflection, which has been a healthy antidote to the 1960s style of Catholicism that encouraged feverish participation bordering on theatrics.

Nothing the pope proposed was new, but it could be called radical, trying to recapture some of the certainty and beauty that pervaded Catholicism before the reforming Vatican II. Inevitably, this upset some. Progressives felt that he was promoting a form of religion that belonged to a different century, that his firm belief in traditional moral theology threatened to distance the church from the people it was supposed to serve.

If that's true, it wasn't the pope's intent. Contrary to the general impression that he's favored a smaller, purer church, Benedict has actually done his best to expand its reach. The most visible sign was his engagement on Twitter. But he also reached out to the Eastern Orthodox Churches and spoke up for Christians persecuted in the Middle East.

In the United Kingdom, he encouraged married Anglican priests to defect. He has even opened up dialogue with Islam. During his tenure, we've also seen a new embrace of Catholicism in the realm of politics, from Paul Ryan's nomination to Tony Blair's high-profile conversion. And far from only talking about sex, Benedict expanded the number of sins to include things such as pollution. It's too often forgotten that in the 1960s he was considered a liberal who eschewed the clerical collar.

The divisions and controversies that occurred under Benedict's leadership had little to do with him personally and a lot more to do with the Catholic Church's difficult relationship with the modern world. As a Catholic convert, I've signed up to its positions on sexual ethics, but I appreciate that many millions have not. A balance has to be struck between the rights of believers and nonbelievers, between respect for tradition and the freedom to reject it.

As the world has struggled to strike that balance (consider the role that same-sex marriage and abortion played in the 2012 election) so the church has found itself forced to be a combatant in the great, ugly culture war. Benedict would rather it played the role of reconciler and healer of wounds, but at this moment in history that's not possible. Unfortunately, its alternative role as moral arbiter has been undermined by the pedophile scandal. Nothing has dogged this pontificate so much as the tragedy of child abuse, and it will continue to blot its reputation for decades to come.

For all these problems, my sense is that Benedict will be remembered as a thinker rather than a fighter. I have been so fortunate to become a Catholic at a moment of liturgical revival under a pope who can write a book as majestic and wise as his biography of Jesus. I've been lucky to know a pope with a sense of humor and a willingness to talk and engage.

If he wasn't what the modern world wanted -- if he wasn't prepared to bend every principle or rule to appease all the people all the time -- then that's the world's problem rather than his. Although he has attained one very modern distinction indeed. On Monday, he trended ahead of Justin Bieber on Twitter for at least an hour.

Follow us on Twitter @CNNOpinion

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The opinions expressed in this commentary are solely those of Timothy Stanley.

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Hadiya's dad: 'Thanking God that these two guys are off the streets'

Two reputed gang members were out for revenge from a previous shooting when they opened fire on a group of students in a South Side park last month, killing 15-year-old Hadiya Pendleton in a heartbreaking case that has brought national attention to Chicago's rampant gun violence, police said.

Michael Ward, 18, and Kenneth Williams, 20, were each charged with first-degree murder, attempted murder and aggravated battery with a firearm in the Jan. 29 attack that also left two teens wounded.

Ward confessed to police that he and Williams mistook a Pendleton companion for rivals who had shot and wounded Williams last July, police Superintendent Garry McCarthy said at a news conference Monday night at the Area Central police headquarters.

Ward told police that he and Williams got out of their car, crept up on the group and opened fire in Harsh Park, McCarthy said. Williams then drove them from the scene, he said.

"The offenders had it all wrong. They thought the group they shot into included members of a rival gang. Instead it was a group of upstanding, determined kids who, like Hadiya, were repulsed by the gang lifestyle," said McCarthy, flanked by two dozen detectives and gang investigators who worked the case.

Detectives arrested the two Saturday night as the suspects were on their way to a suburban strip club to celebrate a friend's birthday, McCarthy said. Pendleton had been buried only hours earlier in a funeral attended by first lady Michelle Obama.

"I don't even know what to say about that," McCarthy said. "They were going out to celebrate at a strip club."

Williams did not confess and police have not recovered a weapon, McCarthy said. Both are due in bond court Tuesday.

Hadiya's father, Nathaniel Pendleton, said Monday night that news of the charges marked the first time since his daughter's slaying that he had a "legitimate" smile on his face.

"I'm ecstatic that they found the two guys," he told the Tribune during a brief telephone interview from Washington, D.C., where he and wife Cleopatra Cowley-Pendleton will attend the State of the Union address Tuesday as guests of President Barack Obama. "(I'm) thanking God that these two guys are off the streets, so that this doesn't happen to another innocent person."

Danetria Hutson, 15, who held Hadiya in her arms after she was shot, said she and others in the group have had nightmares since the shooting.

In addition to waking up in the middle of the night, Hutson, also a sophomore at King, said she and other in that group also haven't been able to bring themselves to hang out at parks since that day.

"A lot of us were actually paranoid because the guys were still out there," Hutson said in a telephone interview. "They knew where we went to school."

On Monday night, Hutson was a little frustrated because of the "ignorance" portrayed in social media, where some people are suggesting that Ward and Williams weren't involved in Hadiya's slaying. But Hutson felt a sigh of relief today when charges were announced against them.

"I just want to see how her family reacts," she said. "It gave me some closure, but I don't think (Hadiya's) family will get closure."

McCarthy said that two days before the killing, police had stopped Ward in his Nissan Sentra as part of a routine gang investigation. That information wound up being the starting point for detectives when witnesses in the shooting described seeing a similar car driving away from the shooting scene, he said.

Through surveillance and interviews — including several fruitful interviews with parolees in the neighborhood — detectives were able to home in on Ward and Williams, McCarthy said. On Saturday night, the decision was made to stop the two if they were spotted. Police watched as they departed in a caravan of cars headed to the strip club in Harvey. They were stopped near 67th Street and South King Drive and taken in for questioning.

McCarthy said Williams was shot July 11 at 39th Street and South Lake Park Avenue, and an arrest was made. But that gunman was let go after Williams refused to cooperate, McCarthy said.

McCarthy also noted that at the time of Hadiya's slaying, Ward was on probation for a weapons conviction. McCarthy said weak Illinois gun laws allowed Ward to avoid jail time because of the absence of mandatory minimum sentences.

"This incident did not have to occur," McCarthy said. "And if mandatory minimums existed in the state of Illinois, Michael Ward would not have been on the street to commit this heinous act."

In announcing the charges, McCarthy praised the "meticulous" detective work that led to the arrests, but he also expressed frustration that despite a $40,000 reward for information in the shooting, no one who had knowledge of the crime came forward.

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North Korea conducts third nuclear test, angering U.S., Japan

SEOUL (Reuters) - North Korea conducted its third nuclear test on Tuesday in defiance of U.N. resolutions, angering the United States and Japan and prompting its only major ally, China, to call for calm.

The North said the test had "greater explosive force" than the 2006 and 2009 tests that were widely seen as small-scale. Its KCNA news agency said it had used a "miniaturized" and lighter nuclear device, indicating that it had again used plutonium which is more suitable for use as a missile warhead.

North Korean leader Kim Jong-un, the third of his line to rule the country, has presided over two long-range rocket launches and a nuclear test during his first a year in power, pursuing policies that have propelled his impoverished and malnourished country closer to becoming a nuclear weapons power.

U.S. President Barack Obama termed the test a "highly provocative act" that hurt regional stability.

"The danger posed by North Korea's threatening activities warrants further swift and credible action by the international community. The United States will also continue to take steps necessary to defend ourselves and our allies," Obama said in a statement.

Japanese Prime Minister Shinzo Abe said the test was a "grave threat" that could not be tolerated. U.N. Secretary-General Ban Ki-moon said the test was a "clear and grave violation" of U.N. Security Council resolutions.

China, which has shown signs of increasing exasperation with its neighbor, repeated calls for the "denuclearization" of the Korean peninsula and urged its client state and others to react calmly, while pressing Pyongyang not to ramp up tension further, something the North had threatened in the run-up to the test.

"We strongly urge North Korea to abide by its non-nuclear commitment and not to take any further actions that would worsen the situation", it said in a statement.

South Korea, still technically at war with the North after the 1950-53 civil war ended in a mere truce, said the size of the seismic activity indicated a nuclear explosion slightly larger than the North's two previous tests at 6-7 kilotons, although that is still relatively small. The Hiroshima bomb was around 20 kilotons.

The U.S. Geological Survey said that a seismic event measuring 5.1 magnitude had occurred on Tuesday, with North Korea later confirming the nuclear test.

"It was confirmed that the nuclear test that was carried out at a high level in a safe and perfect manner using a miniaturized and lighter nuclear device with greater explosive force than previously did not pose any negative impact on the surrounding ecological environment," KCNA said.

The test prompted the U.N. Security Council to call for an emergency meeting later on Tuesday. Despite the tame official response, it likely to be a major embarrassment for Beijing, the North's sole major economic and diplomatic ally.

"The test is hugely insulting to China, which now can be expected to follow through with threats to impose sanctions," said Mark Fitzpatrick of the International Institute for Strategic Studies think tank.

North Korea trumpeted the announcement on its state television channel to patriotic music against the backdrop of an image of its national flag.

It linked the test to its technical prowess in launching a long-range rocket in December, a move that triggered the U.N. sanctions, backed by China, that Pyongyang said prompted it to carry out Tuesday's nuclear test.

The North's ultimate aim, Washington believes, is to design an intercontinental ballistic missile capable of carrying a nuclear warhead that could hit the United States. North Korea says the program is aimed merely at putting satellites in space.

North Korea used plutonium in previous nuclear tests and prior to Tuesday there had been speculation it would use highly enriched uranium so as to conserve its plutonium stocks as testing eats into its limited supply of the material that could be used to construct a nuclear bomb.

"VICIOUS CYCLE"

Despite its three nuclear tests and long-range rocket tests, North Korea is not believed to be close to manufacturing a nuclear missile capable of hitting the United States.

Japan immediately called for more sanctions against North Korea and South Korea's defense ministry said additional nuclear tests and rocket launches by the North should not be ruled out.

South Korea's Yonhap news agency said Pyongyang had informed China and the United States of its plans to test on Monday, although this could not be confirmed.

When new leader Kim, now aged 30, took power after his father's death in December 2011, there were hopes the he would bring reforms and end Kim Jong-il's "military first" policies.

Instead of which, the North, whose economy is smaller than it was 20 years ago and where a third of children are believed to be malnourished, appears to be trapped in a cycle of sanctions followed by further provocations.

"The more North Korea shoots missiles, launches satellites or conducts nuclear tests, the more the U.N. Security Council will impose new and more severe sanctions," said Shen Dingli, a professor and regional security expert at Shanghai's Fudan University.

"It is an endless, vicious cycle."

But options for the international community appear to be in short supply, as North Korea is already one of the most heavily sanctioned states on earth.

Tuesday's action appeared to have been timed for the run-up to February 16 anniversary celebrations of Kim Jong-il's birthday, as well as to achieved maximum international attention.

Significantly, the test comes at a time of political transition in China, Japan and South Korea, and as Obama begins his second term. He will likely have to tweak his State of the Union address due to be given on Tuesday.

Japanese Prime Minister Shinzo Abe is bedding down a new government and South Korea's new president, Park Geun-hye, prepares to take office on February 25.

China too is in the midst of a once-in-a-decade leadership transition to Xi Jinping, who takes office in March. Both Abe and Xi are staunch nationalists.

The longer-term game plan from Pyongyang may be to restart talks aimed at winning food and financial aid.

Its puny economy and small diplomatic reach mean the North struggles to win attention on the global stage - other than through nuclear tests and attacks on South Korea, last made in 2010.

"Now the next step for North Korea will be to offer talks... - any form to start up discussion again to bring things to their advantage," said Jeung Young-tae, senior research fellow at the Korea Institute for National Unification in Seoul.

(Additional reporting by Jack Kim, Christine Kim and Jumin Park in SEOUL; Linda Sieg in TOKYO; Louis Charbonneau at the UNITED NATIONS; Fredrik Dahl in VIENNA; Michael Martina in BEIJING; Editing by Nick Macfie)

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Square scandal highlights growing pains at tech start-ups

SAN FRANCISCO (Reuters) - When Square Chief Operating Officer Keith Rabois left his job last month, citing legal threats from a young colleague with whom he had a two-year relationship, he threw a spotlight on the risks associated with the freewheeling startup culture that many entrepreneurs cherish.

Startups often thrive on a lack of rules and boundaries. But experts say that as they make the transition from a handful of people in a room to sizeable businesses, the hazards of operating without manual - including lawsuits, reputational hits, and waning employee morale - grow exponentially.

Longtime employees sometimes chafe at the arrival of human resources professionals, codes of conduct and other policies that they fear will step on the company's culture. Yet entrepreneurs and start-up investors say they ultimately have little choice.

Take Facebook Inc, which displayed murals of naked women, some riding dogs, in the Palo Alto offices it leased as a small company in 2005. As proud as some of the early employees were of them — one was painted by the then-girlfriend of Facebook impresario and serial entrepreneur Sean Parker — they got painted over shortly after venture-capital firm Accel Partners invested in the company. Facebook had no immediate comment.

About a year into the life of online-ad tracking startup DoubleVerify, an employee gave a presentation about how advertising fraud takes place. Many in the room got a rude awakening when a slide popped up showing an example of an ad where it shouldn't be: next to a particularly raunchy image on a pornography site.

"That was the first time we realized, ‘We gotta get a little more institutionalized," recalls founder Oren Netzer. Today, the company has policies concerning naked images. The same presentation would use a less controversial example, or obscure anything racy.

Alcohol is another dicey topic. "We used to have these new employee hazing ceremonies," said Dheeraj Pandey, chief executive of virtualization company Nutanix, largely involving knocking back tequila shots with chili peppers. But once the company hit about 100 employees, some new hires pushed back and he started considering the potential for liability.

"It just faded away about four, five months ago," he said about the hazing. Potential concerns run the gamut from some employees feeling excluded if they don't drink to incidents that sometimes accompany drunken behavior.

At 250-person social-media management company Hootsuite, "I somewhat infamously have said I never wanted to work at a company with an HR department," says founder Ryan Holmes.

"That's coming back to bite me a little bit now."

MISSION STATEMENTS, HR FLUFF

A year ago, Holmes made his executive assistant the director of human resources. That type of promote-from-within strategy for HR is commonplace, startups say.

A few months into her role, the new HR director told Holmes the company needed a mission statement. "I said, ‘Oh my God, this is HR fluff,'" Holmes remembers. But shortly afterward, when he overheard new hires discussing beliefs he thought were out of step with Hootsuite's ethos — he says he cannot recall the details — he realized she was right.

But Holmes says he is resisting conforming on other levels. Hootsuite employees attend teambuilding trips, including a recent stay at a hot-springs resort. That is the type of event big companies cut out — Google Inc halted its famous all-employee trips in 2009 - often because of the potential for various kinds of legal liability and cost.

Holmes says he might have to rethink his overnight trips if the company ever goes public, but for now, he plans to keep going. "We think it's very valuable," he says.

At Nutanix, Pandey decided last summer's annual whitewater rafting trip on the Sacramento River would be the last. "We used to go through some rough rapids, and had a couple of close shaves," he said. "A couple of the guys aren't good swimmers."

Part of the philosophy is that young companies want to encourage a "think different" attitude, employees say.

"Start-ups by design want to differentiate themselves from the large companies like the HPs that have very thick employee handbooks," said Brian Samson, chief executive of HR for Startups, referring to computer company Hewlett Packard Co.

Start-ups often deal with the inevitable by aiming for a careful, light-footed approach to new policies.

"I've tried to make sure we don't talk about rules," says Evan Wittenberg, HR head at cloud-content firm Box. "The language around this really matters. These are guidelines."

Still, there are tensions as the company, which now employs around 700 and is considered a likely prospect for a 2013 initial public offering, grows. Cecilia Wong, people manager at Box, cites the daylong orientation process for new employees.

"I've had some managers ask, ‘Why's it a full day? On my first day, it was just an hour, then I could hit the ground running,'" she says. She believes the full day is important for explaining the company culture, business and logistics issues.

The consequences of neglecting HR policy and other big-company practices can be dire.

Rabois said he resigned from his post after an ex-boyfriend that he recommended for a job at Square threatened to sue for sexual harassment. A Square spokesman declined to say what kind of HR policies, if any, the company has in place, and he declined to comment on any issue related to the relationship that led to Rabois' resignation. Square had about 30 employees when Rabois joined and now has about 400.

Many large organizations - not just companies, but nonprofits and government agencies - have firm policies about intra-office romances, and often prohibit them if one party has any kind of supervisory authority over the other.

"You can be open to liability if the relationship goes sour, and you have a person in a position of power over the other person," said San Francisco employment attorney Therese Lawless. "Any actions of that person in power can be deemed to be retaliatory."

In addition, it can create a morale issue if other employees believe the more junior employee in an ongoing relationship is receiving favorable treatment, she said.

(Reporting By Sarah McBride; Editing by Jonathan Weber and Leslie Gevirtz)

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Snedeker on the rise with Pebble win

PEBBLE BEACH, Calif. (AP) — Everything about Brandt Snedeker moves at warp speed, including his rapid rise into golf's elite.

He talks so fast that he always seems to be a few words short of a complete sentence. He plays fast, giving his hips a quick swivel to set his position before pulling the trigger. Even his putts go into the hole quickly, most of them struck with purpose instead of hope.

But when he reached the 18th tee box at Pebble Beach, he had to wait for the fairway to clear before taking a victory stroll up one of the prettiest closing holes in golf.

And that was OK with him.

"There's not much better place to be on the planet with a three-shot lead on that tee box," Snedeker said Sunday. "It felt pretty special there."

Indeed, Snedeker is in a special place.

With his 10th consecutive round in the 60s, Snedeker finally had a trophy to show for his astounding start to the 2013 season. He knew the opening seven holes were critical, and he made an eagle and three birdies to build a quick lead. He realized a late birdie would give him a cushion, and he fired at the flag on the par-3 17th to 10 feet below the cup and holed the putt. He closed with a 7-under 65 for a two-shot win over Chris Kirk in the Pebble Beach National Pro-Am.

It was the fifth win of his career, and his fourth in the last 22 months. But it's the last six months that have really turned heads.

He captured the $10 million FedEx Cup prize with a win at the Tour Championship, where he held off the likes of Rory McIlroy, Tiger Woods and Luke Donald going into the final round. He played in his first Ryder Cup. He started this year with a third-place at Kapalua, and runner-up finishes in consecutive weeks to Woods and Phil Mickelson, both of whom had big leads going into the final round.

Go back to the start of the FedEx Cup playoffs last August and Snedeker now has six top 3s in his last nine starts. Since missing the cut at the PGA Championship, he has broken par in 33 out of 37 rounds. No wonder he now is No. 4 in the world, the best ranking of his career.

"Just hard to put into words, to have a stretch of golf like I had the last couple of months," Snedeker said. "Something you dream about. Something you think that you can do, but you don't really know until you actually put it together. And I have.

"I'm really enjoying this, and hopefully can parlay this into the best year of my career."

Snedeker set the tournament record at 19-under 267, one shot better than Mickelson (2007) and Mark O'Meara (1997), who each had a 20-under 268 when Poppy Hills (par 72) was part of the rotation. It has been replaced by Monterey Peninsula, which is a par 70.

Chris Kirk closed with a 66 to finish alone in second, though he was never closer than two shots of the lead on the back nine and finished with a birdie. Kirk finished on 269, a score that would have been good enough to win all but four times at Pebble Beach since this tournament began in 1937.

"We've had a lot of tournaments like that on tour this year where somebody has really just kind of blitzed the field," Kirk said. "I felt like I played well enough to win a golf tournament and came up a little bit short."

Snedeker could have said the same thing — except for Woods at Torrey Pines, and Mickelson going obscenely low to win the Phoenix Open.

He wasn't about to take a back seat to anyone at Pebble Beach.

Snedeker started the final round tied with James Hahn, a 31-year-old rookie from the Bay Area, with Kirk one shot behind. He set the tone early with a 4-iron into the par-5 second hole that was on the edge of the left green. It hit the collar and kicked slightly to the right, rolling toward the pin until it settled 4 feet behind the cup.

"Kind of lucky, but it was a good shot, and to end up where it did was a great way to start the day," he said.

Hahn hit his approach high and pure, and it nearly hit Snedeker's ball before stopping 6 feet away. Hahn missed. Snedeker made. It was like that over the front nine.

Snedeker started to pull away with a 3-wood that came off the edge of the green, ran by the cup and stopped 20 feet away for a two-putt birdie. Then, he holed a 15-foot birdie putt on the seventh and was on his way.

Most impressive about Snedeker this week was bouncing back from bogey. He made five bogeys for the entire week, and four times made birdie on the next hole. On Sunday, his lone mistake was knocking an 18-foot birdie off the green and three-putting for bogey at No. 9.

The answer, like everything else about him, was fast and furious.

He knocked in a 25-foot birdie putt on the 10th, and then holed from 15 feet for birdie on the 12th. Right when it looked as though he would make another bogey on the par-3 12th, he made par from just short of 10 feet.

There's a reason Snedeker led the PGA Tour in putting last year, though it's his driving that has vastly improved. Snedeker studied some statistics last year that showed his odds of hitting the green go way up when he starts in the fairway. And once he's on the green, he's tough to beat.

Hahn, who shot 70 and tied for third, was looking forward to learning something from his debut in the final group, and he saw Snedeker put on a clinic.

"I learned that he is a better guy than he is a golfer. The dude is world class," Hahn said. "He's obviously one of the best, if not the best golfer right now, and possibly for the last year. But how he conducts himself as a person on an off the golf course, that's also world class. He deserved to win today. ... I'm sure if you ask him, it was never a doubt that he was going to win the golf tournament."

Snedeker concurred.

"I definitely didn't want to do anything but win today," he said. "I was out there for one purpose and one purpose only, and I was extremely focused all day. I did a great job of staying patient and I did a great job of playing the golf course the way you're supposed to play it."

And the outcome was just what he expected. The way he has been playing, it shouldn't have been any surprise to anyone.

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Bacchus parade is on in La. despite weather threat

NEW ORLEANS (AP) — Even with nasty weather potentially on its way, one of the biggest parades in the run-up to Mardi Gras is set to roll.

The Krewe of Bacchus, led by Actor G.W. Bailey, was scheduled to roll at 5:15 Sunday evening, even though the National Weather Service said thunderstorms were likely from 3 to 6 p.m.

Parades sometimes roll early or on another day due to weather, but so far, not this one.

Bacchus spokesman Clark Brennan said, “We’re rollin’.”

Bailey co-stars on “Major Crimes” on TNT and is known for the “Police Academy” movies and the series “The Closer.”

He also runs a nonprofit group that focuses on children being treated for cancer. Bailey invited more than two dozen from across the country to join him in Sunday’s parade.

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What beats Grammy? Immortality

Legends beyond their own time

Legends beyond their own time

Legends beyond their own time

Legends beyond their own time

Legends beyond their own time

Legends beyond their own time

STORY HIGHLIGHTS

• Bob Greene: Grammy nominated acts should remember the real prize comes later in life


• He says at a hotel he ran into a group of singing stars from an earlier era, in town for a show


• He says the world of post-fame touring less glamorous for acts, but meaningful


• Greene: Acts grow old, but their hits never will and to fans, the songs are time-machine

Editor's note: CNN Contributor Bob Greene is a best-selling author whose 25 books include "When We Get to Surf City: A Journey Through America in Pursuit of Rock and Roll, Friendship, and Dreams"; "Late Edition: A Love Story"; and "Once Upon a Town: The Miracle of the North Platte Canteen."

(CNN) -- Memo to Carly Rae Jepsen, Frank Ocean, Hunter Hayes, Mumford & Sons, Miguel, the Alabama Shakes and all the other young singers and bands who are nominated for Sunday night's Grammy Awards:

Your real prize -- the most valuable and sustaining award of all -- may not become evident to you until 30 or so years have passed.

You will be much older.

But -- if you are lucky -- you will still get to be out on the road making music.

Bob Greene

Many of Sunday's Grammy nominees are enjoying the first wave of big success. It is understandable if they take for granted the packed concert venues and eye-popping paychecks.

Those may go away -- the newness of fame, the sold-out houses, the big money.

But the joy of being allowed to do what they do will go on.

I've been doing some work while staying at a small hotel off a highway in southwestern Florida. One winter day I was reading out on the pool deck, and there were some other people sitting around talking.

They weren't young, by anyone's definition. They did not seem like conventional businessmen or businesswomen on the road, or like retirees. There was a sense of nascent energy and contented anticipation in their bearing, of something good waiting for them straight ahead. A look completely devoid of grimness or fretfulness, an afternoon look that said the best part of the day was still to come.

I would almost have bet what line of work they were in. I'd seen that look before, many times.

I could hear them talking.

Yep.

The Tokens ("The Lion Sleeps Tonight," a No. 1 hit in 1961).

Little Peggy March ("I Will Follow Him," a No. 1 hit in 1963).

Little Anthony and the Imperials ("Tears on My Pillow," a top 10 hit in 1958).

Major singing stars from an earlier era of popular music, in town for a multi-act show that evening.

It is the one sales job worth yearning for -- carrying that battered sample case of memorable music around the country, to unpack in front of a different appreciative audience every night.

It's quite a world. I was fortunate enough to learn its ins and outs during the 15 deliriously unlikely years I spent touring the United States singing backup with Jan and Dean ("Surf City," a No. 1 hit in 1963) and all the other great performers with whom we shared stages and dressing rooms and backstage buffets:

Chuck Berry, Martha and the Vandellas, Jerry Lee Lewis, Little Richard, the Everly Brothers, James Brown, Lesley Gore, Freddy "Boom Boom" Cannon, the Kingsmen, the Drifters, Fabian, the Coasters, Little Eva, the Ventures, Sam the Sham. ...

Jukebox names whose fame was once as fresh and electric as that now being savored by Sunday's young Grammy nominees.

Decades after that fame is new, the road may not be quite as glamorous, the crowds may not be quite as large. The hours of killing time before riding over to the hall, the putrid vending-machine meals on the run, the way-too-early-in-the-morning vans to the airport -- the dreary parts all become more than worth it when, for an hour or so, the singers can once again personally deliver a bit of happiness to the audiences who still adore their music.

Greene: Super Bowl ad revives iconic voice

As the years go by, the whole thing may grow complicated -- band members come and go, they fight and feud, some quit, some die. There are times when it seems you can't tell the players without a scorecard -- the Tokens at the highway hotel were, technically and contractually, Jay Siegel's Tokens (you don't want to know the details). One of their singers (not Jay Siegel -- Jay Traynor) was once Jay of Jay and the Americans, a group that itself is still out on the road in a different configuration with a different Jay (you don't want to know).

But overriding all of this is a splendid truism:

Sometimes, if you have one big hit, it can take care of you for the rest of your life. It can be your life.

Sunday's young Grammy nominees may not imagine, 30 years down the line, still being on tour. But they -- the fortunate ones -- will come to learn something:

They will grow old, but their hits never will -- once people first fall in love with those songs, the songs will mean something powerful and evocative to them for the rest of their lives.

And as long as there are fairground grandstands on summer nights, as long as there are small-town ballparks with stages where the pitcher's mound should be, the singers will get to keep delivering the goods.

That is the hopeful news waiting, off in the distance, for those who will win Grammys Sunday, and for those who won't be chosen.

On the morning after that pool-deck encounter in Florida I headed out for a walk, and in the parking lot of the hotel I saw one of the Tokens loading his stage clothes into his car.

His license plate read:

SHE CRYD

I said to him:

"You sing lead on 'She Cried,' right?"

"Every night," he said, and drove off toward the next show.

The next show.

That's the prize.

That's the trophy, right there.

Follow @CNNOpinion on Twitter.

Join us at Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Bob Greene.

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Obama coming to Chicago to 'talk about the gun violence'

President Barack Obama will visit Chicago on Friday, when he will discuss gun violence as he focuses on his economic message from Tuesday's State of the Union address, according to the White House.

Obama will "talk about the gun violence that has tragically affected too many families in communities across Chicago and across the country," a White House official said in a statement.

The president's visit answers calls from Chicago anti-violence activists that Obama talk about the recent spate of gun violence in the city, several of the activists said.

"This is an important issue," said Cathy Cohen, founder of the Black Youth Project, which attracted about 45,000 signatures by Sunday night in an online petition that urges Obama to speak up. "We think of this as a victory for all of us."

The group posted the petition on change.org shortly after Hadiya Pendleton, 15, was shot to death last month at a South Side park. The King College Prep student was slain about a week after performing with her school band at Obama's inaugural festivities.

Since Hadiya was shot about a mile from the president's Kenwood neighborhood home Jan. 29, during the deadliest January for Chicago since 2002, pastors, parents and activists have demanded that more be done about the city's violence.

First lady Michelle Obama attended Hadiya's funeral Saturday. Hadiya's mother, Cleopatra Cowley-Pendleton, will also attend the president's State of the Union speech on Tuesday, family spokeswoman Shatira Wilks said late Sunday.

Hadiya's godmother, LaKeisha Stewart, said she hasn't heard whether the president will spend time with the Pendletons during his trip to Chicago.

Stewart said she's happy about Obama's plans. "Any awareness that can be brought to this issue that can prevent any family from ever feeling the pain that we as a family have felt … is awesome," she said. "This city is in pain right now."

Nathaniel Pendleton, Hadiya's father, said his family didn't know much about the president's Chicago trip, but "if he decided to speak with us, we'll be more than happy."

The Rev. Jesse Jackson said the president's remarks in Chicago will play a different role than Michelle Obama's attendance at Hadiya's funeral. The first lady didn't speak publicly about the events surrounding the teenager's death.

"Her being there is very important since it was her neighborhood," Jackson said. "I think the president's coming is important because she did not deal with the politics. … She dealt with the calming concern for a broken-hearted family," he said.

Jackson made a public appeal this month for the president to speak to the bloodshed in Chicago.

Because of the upcoming visit, parents of children who have been shot to death in the city will finally feel heard by Obama, said Annette Nance-Holt, who lost her son Blair Holt in 2007 after he was shot on a crowded CTA bus.

"This sends a message to the parents here that their kids are important too," Holt said. "It may not have been a big shooting with an assault rifle. But to see (Obama) come and hopefully rally some support here means a lot."

The White House said the president's visits to Asheville, N.C., Atlanta and Chicago this week will also press issues that he will raise in his State of the Union speech Tuesday.

"The president will travel to Chicago for an event amplifying some of the policy proposals included in the State of the Union that focus on strengthening the economy for the middle class and the Americans striving to get there," a White House official said in a statement.

Clergy on Sunday praised Obama's decision to speak in Chicago, arguing his speech could bring greater attention to the killings plaguing communities here.

"Hopefully and prayerfully, his coming will make a real impact," said the Rev. Kenneth Giles of Second Mount Olive Missionary Baptist Church in the South Austin neighborhood. "Now that the nation is focused on (gun violence), maybe they will hear his voice and hear what he has to say."

The Rev. Michael Pfleger, senior pastor of the South Side's St. Sabina Catholic Church, said he's grateful the president is "zooming in" on the issue.

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Gunbattle rocks Gao after rebels surprise French, Malians

GAO, Mali (Reuters) - Islamist insurgents launched a surprise raid in the heart of the Malian town of Gao on Sunday, battling French and local troops in a blow to efforts to secure Mali's recaptured north.

Local residents hid in their homes or crouched behind walls as the crackle of gunfire from running street battles resounded through the sandy streets and mud-brick houses of the ancient Niger River town, retaken from Islamist rebels last month by a French-led offensive.

French helicopters clattered overhead and fired on al Qaeda-allied rebels armed with AK-47s and rocket-propelled grenades who had infiltrated the central market area and holed up in a police station, Malian and French officers said.

The fighting inside Gao was certain to raise fears that pockets of determined Islamists who have escaped the lightning four-week-old French intervention in Mali will strike back with guerrilla attacks and suicide bombings.

After driving the bulk of the insurgents from major northern towns such as Timbuktu and Gao, French forces are trying to search out their bases in the remote and rugged Adrar des Ifoghas mountains, far up in the northeast.

But with Mali's weak army unable to secure recaptured zones, and the deployment of a larger African security force slowed by delays and kit shortages, vast areas to the rear of the French forward lines now look vulnerable to guerrilla activity.

"They infiltrated the town via the river. We think there were about 10 of them. They were identified by the population and they went into the police station," said General Bernard Barrera, commander of French ground operations in Mali.

He told reporters in Gao that French helicopters had intervened to help Malian troops pinned down by the rebels, who threw grenades from rooftops.

Malian gendarme Colonel Saliou Maiga told Reuters the insurgents intended to carry out suicide attacks in the town.

SUICIDE BOMBERS

No casualty toll was immediately available. But a Reuters reporter in Gao saw one body crumpled over a motorcycle. Malian soldiers said some of the raiders may have come on motorbikes.

The gunfire in Gao erupted hours after French and Malian forces reinforced a checkpoint on the northern outskirts that had been attacked for the second time in two days by a suicide bomber.

Abdoul Abdoulaye Sidibe, a Malian parliamentarian from Gao, said the rebel infiltrators were from the MUJWA group that had held the town until French forces liberated it late last month.

MUJWA is a splinter faction of al Qaeda's North African wing AQIM which, in loose alliance with the home-grown Malian Islamist group Ansar Dine, held Mali's main northern urban areas for 10 months until the French offensive drove them out.

Late on Saturday, an army checkpoint in Gao's northern outskirts came under attack by a group of Islamist rebels who fired from a road and bridge that lead north through the desert scrub by the Niger River to Bourem, 80 km (50 miles) away.

"Our soldiers came under heavy gunfire from jihadists from the bridge ... At the same time, another one flanked round and jumped over the wall. He was able to set off his suicide belt," Malian Captain Sidiki Diarra told reporters.

The bomber died and one Malian soldier was lightly wounded, he added. In Friday's motorbike suicide bomber attack, a Malian soldier was also injured.

Diarra described Saturday's bomber as a bearded Arab.

Since Gao and the UNESCO World Heritage city of Timbuktu were retaken last month, several Malian soldiers have been killed in landmine explosions on a main road leading north.

French and Malian officers say pockets of rebels are still in the bush and desert between major towns and pose a threat of hit-and-run guerrilla raids and bombings.

"We are in a dangerous zone... we can't be everywhere," a French officer told reporters, asking not to be named.

One local resident reported seeing a group of 10 armed Islamist fighters at Batel, just 10 km (6 miles) from Gao.

OPERATIONS IN NORTHEAST

The French, who have around 4,000 troops in Mali, are now focusing their offensive operations several hundred kilometers (miles) north of Gao in a hunt for the Islamist insurgents.

On Friday, French special forces paratroopers seized the airstrip and town of Tessalit, near the Algerian border.

From here, the French, aided by around 1,000 Chadian troops in the northeast Kidal region, are expected to conduct combat patrols into the Adrar des Ifoghas mountains.

The remaining Islamists are believed to have hideouts and supply depots in a rugged, sun-blasted range of rocky gullies and caves, and are also thought to be holding at least seven French hostages previously seized in the Sahel.

The U.S. and European governments back the French-led operation as a defense against Islamist jihadists threatening wider attacks, but rule out sending their own combat troops.

To accompany the military offensive, France and its allies are urging Mali authorities to open a national reconciliation dialogue that addresses the pro-autonomy grievances of northern communities like the Tuaregs, and to hold democratic elections.

Interim President Dioncounda Traore, appointed after a military coup last year that plunged the West African state into chaos and led to the Islamist occupation of the north, has said he intends to hold elections by July 31.

But he faces splits within the divided Malian army, where rival units are still at loggerheads.

(Additional reporting by Tiemoko Diallo and Adama Diarra in Bamako; Writing by Joe Bavier and Pascal Fletcher; Editing by Kevin Liffey)

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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.

"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.

(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)

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Michigan, Kansas go down as run continues

There goes another one, and another one.

No. 3 Michigan, fifth-ranked Kansas and No. 11 Louisville all lost on Saturday, continuing a perilous stretch for the Top 25.

The Wolverines became the third top-three team to fall this week when Ben Brust hit a tiebreaking 3-pointer with less than 40 seconds left in overtime, leading Wisconsin to a 65-62 victory. Brust also tied the game at the end of regulation with a heave from just inside halfcourt.

That's just the way it has gone lately for the top of the poll.

No. 2 Florida lost at Arkansas on Tuesday night, and No. 1 Indiana dropped a 74-72 decision at Illinois on Thursday. This should be the sixth straight week with a different No. 1 in The Associated Press' Top 25, which would be the second-longest streak since the first AP poll in 1949.

The Jayhawks have dropped three straight games for the first time in eight years after they lost 72-66 at Oklahoma.

"It hasn't been a good week for us by any stretch, but let's be real," Kansas coach Bill Self said. "We were ranked No. 2 in the country seven days ago, and you don't go from being a good team to a bad team overnight.

"We've had a couple of bad outings, but we're still a good team."

The current string of No. 1 swapping is the longest since 1994, when Arkansas, North Carolina, Kansas, UCLA and Duke alternated at the top seven straight weeks — the longest streak since Saint Louis debuted as No. 1 in the initial AP poll.

But it isn't just the teams at the top that are having trouble. Top 25 teams all over the country are getting knocked off by unranked opponents.

According to STATS LLC, Top 25 teams lost to unranked teams 36 times from Jan. 17 to Feb. 6 this season, most in at least 17 years.

Louisville lost 104-101 in five overtimes at No. 25 Notre Dame on Saturday night. It was the longest regular-season game in Big East history.

The Irish trailed by eight with 46 seconds left in regulation.

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Astronaut Sends Chinese New Year Greetings from Space

An astronaut on the International Space Station beamed festive messages to Earth Saturday (Feb. 9) to mark Chinese New Year celebrations across the planet.

Canadian astronaut Chris Hadfield, a space station flight engineer, sent good wishes and amazing photos of China via online Twitter messages to celebrate the Chinese Year of the Snake, which began Sunday, Feb. 10.

“Happy Chinese New Year! May it be filled with joy and success,” Hadfield wrote. “To celebrate, we sent a Progress spaceship to burn like fireworks in the sky.”

That unmanned Russian Progress 48 spacecraft undocked from the space station early Saturday to clear a parking spot for a new robotic cargo ship, Progress 50, due to arrive at the station on Monday (Feb. 11).

Hadfield then posted a series of dazzling photos of China from space, including a view of daybreak over Taiwan, a striking image of Shanghai at night, amazing windswept clouds and a view of the city of Hangzhou.

“Hangzhou, China. As one of the few space-faring nations, I salute China, her astronauts, and their accomplishments,” Hadfield wrote.

In 2003, China became the third country (after Russia and the United States) to achieve human spaceflight with the successful launch of its first astronaut, Yang Liwei, aboard the country’s Shenzhou spacecraft. The country subsequently took bolder steps into space, with two-person and three-person spaceflights, a spacewalk and the launch of the Tiangong 1 space laboratory module.

In 2012, China launched its first crew to the Tiangong 1 space module, a three-person team that included the country’s first female astronaut, Liu Yang.

In 2013, China is expected to launch another crewed mission to the Tiangong 1 space lab (the Shenzhou 10 mission), as well as the Chang’e 3 moon mission, which is expected to send a lander to the lunar surface.

Hadfield is one of six astronauts currently living aboard the International Space Station. In addition to the Canadian, the station’s Expedition 34 crew includes three Russian cosmonauts and two American astronauts.

You can follow SPACE.com Managing Editor Tariq Malik on Twitter @tariqjmalik. Follow SPACE.com on Twitter @Spacedotcom. We’re also on Facebook & Google+. 

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China needs smog-free air in a can

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

Hazardous smog over Beijing

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STORY HIGHLIGHTS

• This year has been one of the worst for air quality in China


• Residents have termed the smog event the "air-pocalypse"


• John Sutter says the country should pass a Clean Air Act


• It's a matter of human rights and public health, not image

Editor's note: John D. Sutter is a columnist for CNN Opinion. He heads the section's Change the List project, which focuses on human rights and social justice. E-mail him at CTL@CNN.com.

(CNN) -- Air pollution in China has gotten so bad lately that one environmentalist's wacky idea for a solution doesn't seem all that far-fetched: putting clean air in a can.

Last week, when a thick gray haze blanketed Beijing and several other Chinese cities, sending kids to the hospital, grounding planes and causing the government to order cars off the road, Chen Guangbiao took to the streets in Beijing to hand out yellow and green cans of smog-free, non-carcinogenic air.

"Free fresh air. Open it and drink it and breathe it!" the Guardian quoted the multimillionaire and national celeb as saying. "It keeps you fresh the whole day!"

Ego aside (the bright cans feature an image of Chen's face and the words "Chen Guangbio is a good man" on them), the clever, political stunt is just the sort of thing that China needs these days. Such creative and public protests should help push forward much-needed national reforms to combat air pollution in the country.

A "Clean Air Act" for China is long overdue.

John D. Sutter

And the recent "air-pocalypse," as the suffocating air pollution that hung over several Chinese cities in January has been termed, should be more than enough proof of that.

The pollution during the 2013 Great Smog of China was so thick last month that it was visible from space (from space!). Breathing in Beijing was "akin to living in a smoking lounge," according to an analysis from Bloomberg. Air quality readings literally were off the charts. An index reading below about 50 is considered healthy. Readings for Beijing in January hit 500, the top of the index, and went higher than 700, according to the U.S. Embassy.

"The air has this kind of greenish-gray pallor to it. And it smells like you're standing next to a chemical plant, really chlorine-y," said David Pettit, a senior attorney at the Natural Resources Defense Council, an environmental group. "It's an awesomely bad smell."

He was telling me about Beijing air on a normal day.

"I'm standing outside my office building but am unable to see its top," one Beijing resident said, according to China's state news agency, Xinhua.

"The new normal in Beijing is sending your kids to school wearing gas masks ..." Christina Larson wrote in Bloomberg Businessweek.

Fixing China's air pollution is not just about the country's image or economy, although those certainly suffer because of smog, too. It's about the right of all humans to walk outside and breathe in air that won't choke them or make them sick.

The AFP reports hospital visits for respiratory problems were up 20% during the air-pocalypse. Last year, small particle air pollution, called PM2.5, in four major Chinese cities resulted in 8,572 premature deaths, according to a December study by Greenpeace East Asia and Peking University's School of Public Health.

Similar deaths can and should be prevented.

And I'm optimistic they will be. For several reasons.

The first is history. It wasn't all that long ago, in 1952, that the "Great Smog" covered London in gray, sooty pollution, resulting in an estimated 4,000 premature deaths.

The government reacted by passing sweeping reforms.

Now London is known for its real fog, not smog.

Air pollution in Los Angeles was handled in a similar fashion.

After the city's car culture created a smog problem, scientists started researching protective helmets to protect people. Others wore gas masks. But, eventually the government took action to reduce the pollution. California led the way for the nation, and in 1963, the United States passed the Clean Air Act.

That law is credited with preventing 205,000 premature deaths, 843,000 asthma attacks and 18 million child respiratory illnesses in 1990, based on the first 20 years of the law.

These changes took time. And it's unfortunate that things had to get bad before they could get better. But China, like others, is finally realizing that its air really is that bad.

Its own people are calling for the change and more vigorously than before.

More than 200 students at a Beijing high school school signed a petition asking the city to "amend air quality regulations and take specific emergency measures," according to Calum MacLeod from USA Today. And on Weibo, China's version of Twitter, Pan Shiyi, a real estate magnate, called for the country to adopt its own Clean Air Act. When he posed the idea to his 14 million Weibo followers in an online poll, nearly all of the 50,000-some people who responded said they supported that type of national legislation.

Maybe that's just one man's social media feed. But there's a history of this kind of thing working in China. In 2011, Pan successfully used his online network to press Beijing authorities to report more smog data, according to the Wall Street Journal's China blog.

It's clear the government has taken notice this time as well. Beijing implemented several emergency measures to curb smog. State media is talking about the pollution.

After speaking with a few experts, it seems clear what needs to be done: China has to reduce its reliance on coal, increase renewable energy, regulate the amount of smog-causing sulfur that can go into its diesel fuel and increase vehicle efficiency.

"It's not rocket science," said Pettit, from NRDC.

There will, of course, be costs and significant challenges. China burns "nearly as much coal as the rest of the world combined," according to a recent report from the U.S. Energy Information Administration. Beijing catches so much of the pollution from coal-burning power plants because it sits at the center of a ring of mountains, which help trap the smog. Throw a bunch more cars into the mix, 13 million of them were sold in China last year, according to IHS Automotive and the problems start compounding.

Fixes may be expensive, but the United States has made the compelling case that the costs of enforcing clean air regulations are offset by gains in health and worker productivity. China, which does have some air quality regulations, already seems to be realizing this. The country on Wednesday announced stricter fuel standards that go into effect by the end of 2014 for diesel and 2017 for gas, according to the Financial Times. An environmental official, Wu Xiaoqing, also told state media this week that "China will formulate regulations, standards and policies to reduce air pollutants and control coal burning."

The energy industry estimates it will costs billions for China to meet tougher fuel standards. It may be up to people like the artist Ai Weiwei, who posed in a photo wearing a gas mask, and Chen, the man who's peddling cans of clean air, to ensure that the public and the government see that clean air is worth the cost.

"I want to tell mayors, county chiefs and heads of big companies: Don't just chase GDP growth, don't chase the biggest profits at the expense of our children and grandchildren, and at the cost of sacrificing our ecological environment," Chen told Reuters.

If Chinese leaders don't want to drink air from a can, they should listen.

Follow us on Twitter @CNNOpinion.

Join us on Facebook/CNNOpinion.

The opinions expressed in this column are solely those of John D. Sutter.

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