Wall Street Week Ahead: Political wrangling to pinch market's nerves

NEW YORK (Reuters) - Volatility is the name of this game.

With the S&P 500 above 1,400 following five days of gains, traders will be hard pressed not to cash in on the advance at the first sign of trouble during negotiations over tax hikes and spending cuts that resume next week in Washington.

President Barack Obama and U.S. congressional leaders are expected to discuss ways to reduce the budget deficit and avoid the "fiscal cliff" of automatic tax increases and spending cuts in 2013 that could tip the economy into recession.

As politicians make their case, markets could react with wild swings.

The CBOE Volatility Index <.vix>, known as the VIX, Wall Street's favorite barometer of market anxiety that usually moves in an inverse relationship with the S&P 500, is in a long-term decline with its 200-day moving average at its lowest in five years. The VIX could spike if dealings in Washington begin to stall.

"If the fiscal cliff happens, a lot of major assets will be down on a short-term basis because of the fear factor and the chaos factor," said Yu-Dee Chang, chief trader and sole principal of ACE Investments in Virginia.

"So whatever you are in, you're going to lose some money unless you go long the VIX and short the market. The 'upside risk' there is some kind of grand bargain, and then the market goes crazy."

He set the chances of the economy going over the cliff at only about 5 percent.

Many in the market agree there will be some sort of agreement that will fuel a rally, but the road there will be full of political landmines as Democrats and Republicans dig in on positions defended during the recent election.

Liberals want tax increases on the wealthiest Americans while protecting progressive advances in healthcare, while conservatives make a case for deep cuts in programs for the poor and a widening of the tax base to raise revenues without lifting tax rates.

"Both parties will raise the stakes and the pressure on the opposing side, so the market is going to feel much more concerned," said Tim Leach, chief investment officer of U.S. Bank Wealth Management in San Francisco.

"The administration feels really confident at this point, or a little more than the Republican side of Congress may feel," he said. "But it's still a balanced-power Congress so neither side can feel that they can act with impunity."

THE MIDDLE EAST AND EUROPE

Tension in the Middle East and unresolved talks in Europe over aid for Greece could add to the uncertainty and volatility on Wall Street could surge, analysts say.

An Egypt-brokered ceasefire between Israel and Hamas came into force late on Wednesday after a week of conflict, but it was broken with the shooting of a Palestinian man by Israeli soldiers, according to Palestine's foreign minister.

Buoyed by accolades from around the world for mediating the truce, Egyptian President Mohamed Mursi assumed sweeping powers, angering his opponents and prompting violent clashes in central Cairo and other cities on Friday.

"Those kinds of potential large-scale conflicts can certainly overwhelm some of the fundamental data here at home," said U.S. Bank's Leach.

"We are trying to keep in mind the idea that there are a lot of factors that are probably going to contribute to higher volatility."

On a brighter note for markets, Greece's finance minister said the International Monetary Fund has relaxed its debt-cutting target for Greece and a gap of only $13 billion remains to be filled for a vital aid installment to be paid.

Still, a deal has not been struck, and Greece is increasingly frustrated at its lenders, still squabbling over a deal to unlock fresh aid even though Athens has pushed through unpopular austerity cuts.

HOUSING DATA COULD CONFIRM RECOVERY

Next week is heavy on economic data, especially on the housing front. Some of the numbers have been affected by Superstorm Sandy, which hit the U.S. East Coast more than three weeks ago, killing more than 100 people in the United States alone and leaving billions of dollars in damages.

The housing data, though, could continue to confirm a rebound in the sector that is seen as a necessary step to unlock spending and lower the stubbornly high unemployment rate.

Tuesday's S&P/Case-Shiller home price index for September is expected to show the eighth straight month of increases, extending the longest continuous string of gains since prices were boosted by a homebuyer tax credit in 2009 and 2010.

New home sales for October, due on Wednesday, and October pending home sales data, due on Thursday, are also expected to show a stronger housing market.

Other data highlights next week include durable goods orders for October and consumer confidence for November on Tuesday and the Chicago Purchasing Managers Index on Friday.

At Friday's close, the S&P 500 wrapped up its second-best week of the year with a 3.6 percent gain. Encouraging economic data next week could confirm that regardless of the ups and downs that the fiscal cliff could bring, the market's fundamentals are solid.

Jeff Morris, head of U.S. equities at Standard Life Investments in Boston, said that "it's kind of noise here" in terms of whether the market has spent "a few days up or down. It has made some solid gains over the course of the year as the housing recovery has come into view, and that's what's underpinning the market at these levels.

"I would caution against reading too much into the next few days."

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Editing by Tim Dobbyn and Jan Paschal)

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Egypt's Mursi faces judicial revolt over decree

CAIRO (Reuters) - Egyptian President Mohamed Mursi faces a rebellion from judges who accused him on Saturday of expanding his powers at their expense, deepening a crisis that has triggered calls for more protests following a day of violence across Egypt.

Judges in Alexandria, Egypt's second city, threatened to go on strike until it was revoked, and there were calls for the "downfall of the regime" - the rallying cry in the uprising that toppled Hosni Mubarak - during a meeting of judges in Cairo.

Mursi's opponents and supports - representing the divide between newly empowered Islamists and a more secular-minded opposition - have called rival demonstrations on Tuesday over his decree that has triggered concern in the West.

Issued late on Thursday, it marks an effort by Mursi to consolidate his influence after he successfully sidelined Mubarak-era generals in August. It defends from judicial review decisions taken by Mursi until a new parliament is elected in a vote expected early next year.

It also shields the Islamist-dominated assembly writing Egypt's new constitution from a raft of legal challenges that have threatened the body with dissolution, and offers the same protection to the Islamist-controlled upper house of parliament.

Egypt's highest judicial authority, the Supreme Judicial Council, said the decree was an "unprecedented attack" on the independence of the judiciary.

Youths clashed sporadically with police near Tahrir Square, the epicenter of the uprising that toppled Mubarak in 2011, following Friday's violence in which more than 300 people were injured across Egypt. Activists camped out for a second day in the square, setting up makeshift barricades to keep out traffic.

POLARISATION

Liberal, leftist and socialist parties called a big protest for Tuesday to force Mursi to row back on a decree they say has exposed the autocratic impulses of a man once jailed by Mubarak.

In a sign of the polarization in the country, the Muslim Brotherhood - the group that propelled Mursi to power - called its own protests that day to support the president's decree.

At least three Brotherhood offices were attacked on Friday.

"We are facing a historic moment in which we either complete our revolution or we abandon it to become prey for a group that has put its narrow party interests above the national interest," the liberal Dustour Party said in a statement.

Mursi also assigned himself new authority to sack the prosecutor general - a Mubarak hold over - and appoint a new one. The dismissed prosecutor general, Abdel Maguid Mahmoud, was given a hero's welcome by several thousand judges who attended the session of Egypt's Judges' Club in Cairo on Saturday.

Ahmed al-Zind, head of the Judges' Club, introduced Mahmoud by his old title, in open defiance of Mursi's decree.

The Mursi administration has defended the decree on the grounds that it aims to speed up a protracted transition from Mubarak's rule to a new system of democratic government.

Analysts say it reflects the Brotherhood's suspicion towards sections of a judiciary unreformed from Mubarak's days.

"It aims to sideline Mursi's enemies in the judiciary and ultimately to impose and head off any legal challenges to the constitution," said Elijah Zarwan, a fellow with The European Council on Foreign Relations.

"We are in a situation now where both sides are escalating and its getting harder and harder to see how either side can gracefully climb down."

RIOT POLICE

Following a day of violence in Cairo, Alexandria, Port Said and Suez, the smell of teargas hung over Tahrir Square.

A handful of hardcore activists hurling rocks battled riot police in the streets near the square, where several thousand protesters massed on Friday to demonstrate against the decree that has rallied opposition ranks against Mursi.

Al-Masry Al-Youm, one of Egypt's most widely read dailies, hailed Friday's protest as "The November 23 Intifada", invoking the Arabic word for uprising. "The people support the president's decisions," declared Freedom and Justice, the newspaper run by the Brotherhood's political party.

The ultraorthodox Salafi Islamist groups that have been pushing for tighter application of Islamic law in the new constitution have rallied behind the decree.

The Nour Party, one such group, stated its support for the Mursi decree. Al-Gama'a al-Islamiya, which carried arms against the state in the 1990s, said it would save the revolution from what it described as remnants of the Mubarak regime.

Mursi is facing the biggest storm of criticism since he won the presidential election in June.

Samir Morkos, a Christian assistant to Mursi, had told the president he wanted to resign," said Yasser Ali, Mursi's spokesman. "The president has spoken to him today but the decision to resign is yet to be taken," Ali told Reuters.

Mursi addressed his supporters outside the presidential palace on Friday. He said opposition did not worry him, but it had to be "real and strong".

Mursi is now confronted with a domestic crisis just as his administration won international praise for mediating an end to the eight-day war between Israel and Palestinians in the Gaza Strip.

"The decisions and declarations announced on November 22 raise concerns for many Egyptians and for the international community," State Department spokeswoman Victoria Nuland said.

The European Union urged Mursi to respect the democratic process, while the United Nations expressed fears about human rights.

(Additional reporting by Omar Fahmy, Marwa Awad and Reuters TV; Editing by Alison Williams)

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6 ways to tweet yourself out of a job

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 — Rob Lammie

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Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

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"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," the family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray tells ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

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Wall Street ends higher in short session, led by techs

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Editing by Kenneth Barry)

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Protests after "pharaoh" Mursi assumes powers in Egypt

CAIRO (Reuters) - Egyptian President Mohamed Mursi's decision to assume sweeping powers caused fury amongst his opponents and prompted violent clashes in central Cairo and other cities on Friday.

Police fired tear gas near Cairo's Tahrir Square, heart of the 2011 uprising that toppled Hosni Mubarak, where thousands demanded Mursi quit and accused him of launching a "coup". There were violent protests in Alexandria, Port Said and Suez.

Opponents accused Mursi, who has issued a decree that puts his decisions above legal challenge until a new parliament is elected, of being the new Mubarak and hijacking the revolution.

"The people want to bring down the regime," shouted protesters in Tahrir, echoing a chant used in the uprising that forced Mubarak to step down. "Get out, Mursi," they chanted, along with "Mubarak tell Mursi, jail comes after the throne."

Mursi's aides said the presidential decree was intended to speed up a protracted transition that has been hindered by legal obstacles but Mursi's rivals condemned him as an autocratic pharaoh who wanted to impose his Islamist vision on Egypt.

"I am for all Egyptians. I will not be biased against any son of Egypt," Mursi said on a stage outside the presidential palace, adding that he was working for social and economic stability and the rotation of power.

"Opposition in Egypt does not worry me, but it has to be real and strong," he said, seeking to placate his critics and telling Egyptians that he was committed to the revolution. "Go forward, always forward ... to a new Egypt."

Buoyed by accolades from around the world for mediating a truce between Hamas and Israel in the Gaza Strip, Mursi on Thursday ordered that an Islamist-dominated assembly writing the new constitution could not be dissolved by legal challenges.

"Mursi a 'temporary' dictator," was the headline in the independent daily Al-Masry Al-Youm.

Mursi, an Islamist whose roots are in the Muslim Brotherhood, also gave himself wide powers that allowed him to sack the unpopular general prosecutor and opened the door for a retrial for Mubarak and his aides.

The president's decree aimed to end the logjam and push Egypt, the Arab world's most populous nation, more quickly along its democratic path, the presidential spokesman said.

"President Mursi said we must go out of the bottleneck without breaking the bottle," Yasser Ali told Reuters.

TURBULENCE AND TURMOIL

The president's decree said any decrees he issued while no parliament sat could not be challenged, moves that consolidated his power but look set to polarize Egypt further, threatening more turbulence in a nation at the heart of the Arab Spring.

The turmoil has weighed heavily on Egypt's faltering economy that was thrown a lifeline this week when a preliminary deal was reached with the International Monetary Fund for a $4.8 billion loan. But it also means unpopular economic measures.

In Alexandria, north of Cairo, protesters ransacked an office of the Brotherhood's political party, burning books and chairs in the street. Supporters of Mursi and opponents clashed elsewhere in the city, leaving 12 injured.

A party building was also attacked by stone-throwing protesters in Port Said, and demonstrators in Suez threw petrol bombs that burned banners outside the party building.

Mursi's decree is bound to worry Western allies, particularly the United States, a generous benefactor to Egypt's army, which praised Egypt for its part in bringing Israelis and Palestinians to a ceasefire on Wednesday.

The West may become concerned about measures that, for example, undermine judicial independence. The European Union urged Mursi to respect the democratic process.

"We are very concerned about the possible huge ramifications of this declaration on human rights and the rule of law in Egypt," Rupert Colville, spokesman for the U.N. Human Rights Commissioner Navi Pillay, said at the United Nations in Geneva.

The United States has been concerned about the fate of what was once a close ally under Mubarak, who preserved Egypt's 1979 peace treaty with Israel. The Gaza deal has reassured Washington but the deepening polarization of the nation will be a worry.

"ANOTHER DICTATOR"

"The decree is basically a coup on state institutions and the rule of law that is likely to undermine the revolution and the transition to democracy," said Mervat Ahmed, an independent activist in Tahrir protesting against the decree. "I worry Mursi will be another dictator like the one before him."

Leading liberal Mohamed ElBaradei, who joined other politicians on Thursday night to demand the decree was withdrawn, wrote on his Twitter account that Mursi had "usurped all state powers and appointed himself Egypt's new pharaoh".

Almost two years after Mubarak was toppled and about five months since Mursi took office, propelled to the post by the Muslim Brotherhood, Egypt has no permanent constitution, which must be in place before new parliamentary elections are held.

The last parliament, which sat for the first time earlier this year, was dissolved after a court declared it void. It was dominated by the Brotherhood's political party.

An assembly drawing up the constitution has yet to complete its work. Many liberals, Christians and others have walked out accusing the Islamists who dominate it of ignoring their voices over the extent that Islam should be enshrined in the new state.

Opponents call for the assembly to be scrapped and remade. Mursi's decree protects the existing one and extends the deadline for drafting a document by two months, pushing it back to February, further delaying a new parliamentary election.

Explaining the rationale behind the moves, the presidential spokesman said: "This means ending the period of constitutional instability to arrive at a state with a written constitution, an elected president and parliament."

"THIS IS NOT THE REMEDY"

Analyst Seif El Din Abdel Fatah said the decree targeted the judiciary which had reversed, for example, an earlier Mursi decision to remove the prosecutor.

Mursi, who is now protected by his new decree from judicial reversals, said the judiciary contained honorable men but said he would uncover corrupt elements. He also said he would ensure independence for the judicial, executive and legislative powers.

Although many of Mursi's opponents also opposed the sacked prosecutor, whom they blamed for shortcomings in prosecuting Mubarak and his aides, and also want judicial reform, they say a draconian presidential decree was not the way to do it.

"There was a disease but this is not the remedy," said Hassan Nafaa, a liberal-minded political science professor and activist at Cairo University.

(Additional reporting by Tom Miles in Geneva and Sebastian Moffett in Brussels; Writing by Edmund Blair; Editing by Peter Millership and Giles Elgood)

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Black Friday Fiscal Cliff Twitter Guide

With the dirty dishes cleared and leftovers safely in the fridge, Americans across the country start looking ahead to the winter holidays the day after Thanksgiving.

But for Congress, there’s a pretty big hurdle to handle before the House and Senate can abscond to presents and plum pudding. It’s called the fiscal cliff, and according to a recent Pew Research Poll , more Americans are paying attention to it than the scandal surrounding Gen. David Petraeus‘ resignation.

While talks and deals on budget cuts and tax increases are currently on hold, once the holiday weekend ends, it’s time to take to Twitter and follow these folks to learn what’s at stake, where each party stands and whether to expect a bipartisan deal for the new year.

Subscribe to the list on @OtusNews here.

Follow Tweeters in the House

These partisan tweeters should give a good idea of where things stand on the House side of Capitol Hill.

@SpeakerBoehner - The official Twitter account for the speaker of the House commends Republican representatives for their work on the fiscal cliff negotiations and retweets relevant articles with a GOP slant. Last Friday, a tweet from the account said, “Survey shows Americans favor GOP approach to averting #fiscalcliff http://j.mp/SsmYJT ” To see more of Boehner’s opinions on the issue and read about his meetings with key players, follow his personal account: @ JohnBoehner .

@NancyPelosi – While the House minority leader has kept her thoughts on the fiscal cliff away from Twitter for now, Pelosi expressed strong sentiments on the need for higher taxation of wealthy Americans in her interview with ABC’s Martha Raddatz Sunday. Pelosi will be a tweeter to watch as options come on and off the table – she’s a good gauge for how the rest of the party will vote.

@RepPaulRyan – The budget hawk has stayed out of the spotlight since losing the vice presidency earlier this month, but as chairman of the House Budget Committee, it’s unlikely Ryan will resist for long when spending cuts are in sight. The former VP nominee’s other Twitter account, @PaulRyanVP , spent a lot of time tweeting about the need for pro-growth policies and the reduction of government debt. Keep an eye on Ryan’s congressional account to see if those positions will factor into the negotiations this time around.

@ChrisVanHollen – As a ranking member on the House Budget Committee, Rep. Van Hollen, D-Md., has tweeted a photo of him discussing the fiscal cliff, a video of his interview on it and vitriolic attacks with the hashtag #DoNothingGOP.

Tweeters in the Senate

Ranking senators on the fiscal cliff aren’t as inclined to tweet as their House counterparts, but here is a couple to keep in your newsfeed.

@ChuckGrassley - The Republican senator from Iowa doesn’t tweet many links or videos, but he is outspoken in his digital opinions. “PresObama meets w Congressional leaders tomorrow. I hope it is a serious attempt by PresO to reach bipartisan agreement not a photo op 4tax,” Grassley tweeted Nov. 15. In addition to 140-character diatribes on the fiscal cliff, use Grassley’s feed to learn about deer hunting, the History Channel and University of Northern Iowa football.

@SenJohnMcCain – The outspoken former presidential candidate will be one to watch throughout these negotiations. In addition to offering news on foreign affairs and the state of the nation’s finances, McCain adds humor, tweeting a little pre-emptively last weekend , “Twinkies maker Hostess closes – what will we do without deep fried Twinkies at the #Iowa State Fair?”

Organizations and Think Tanks

@BudgetHawks – The handle for the Committee for a Responsible Federal Budget gives you an idea of what they’re all about. They tweet ideas, articles and commentary on how to balance the federal budget.

@CenterOnBudget – The somewhat-left-leaning Center on Budget and Policy Priorities focuses on analyzing national data to predict how possible solutions could affect Americans.

@Heritage – The Heritage Foundation brings a conservative perspective on the financial issues at stake. On Monday it tweeted a chart showing how its plan for lowering the debt stacked up against those of four other think tanks.

@AARP – A number of Democratic senators have pledged to oppose a deal that would hurt seniors, but nevertheless, Medicare and Social Security cuts could be on the table. Follow AARP to see how congressional compromises could affect older Americans.

@CSPAN­_Classroom – This account offers civics lessons for educators, but the guide to the fiscal cliff they tweeted this week has background information and interviews with lawmakers that could be helpful for anyone trying to understand the complex talks on Capitol Hill.

Observers at ABC

ABC’s @JakeTapper, @DevinDwyer and @MaryKBruce will bring the view from the White House. @RickKlein, @AmyEWalter and @ JonKarl will have analysis of the issues (most likely with sports metaphors to boot). Turn to @GStephanopoulos for the big picture. @JParkABC report on the ground from the House of Representatives and @SunlenMiller will cover the Senate.

The Instigators, 2016ers and Others

@JimDemint – U.S. Senator Jim DeMint, R-S.C., draws a hard line and likes to stir up the conversation, though the Romney backer has been unusually quiet since President Obama‘s win. We’re hoping this budget battle will be enough to rile him up again.

@TedCruz - The senator-elect from Texas will undoubtedly raise some eyebrows with his fired-up rhetoric during this showdown. As an example of his spunk, the Republican rising star essentially issued a challenge to President Obama about working together on the fiscal cliff.

@MarcoRubio – With his attendance at the Iowa governor’s birthday bash last week, it seems Sen. Rubio, R-Fla., is already preparing to court a 2016 electorate. He’ll want to command a memorable presence in this historic fiscal fight.

@GovernorOMalley – The Maryland governor is rumored to be a Democratic favorite for 2016. He’s garnered praise for reining in costs to the state.

@djheakin - Douglas Holtz-Eakin, former CBO director and current president of the American Action Forum, offers educational tweets, including an e-book with the need-to-know on the fiscal cliff.

@econjared – Jared Bernstein is a Center on Budget and Policy Priorities fellow and the former chief economist and economic adviser to Vice President Joe Biden who made some of the original predictions about the stimulus package.

For a Laugh

If talk of impending economic doom becomes a little too heavy to take, turn to @PourMeCoffee , @MrFiscalCliff and @TheOnion for tweets from the lighter side of the fiscal cliff.

And of course … @BarackObama – If the fiscal cliff fight is anything like the battle to raise the debt ceiling, President Obama will likely take to Twitter to encourage Americans to get involved and contact their representatives. You’ll know tweets that come directly from the president (and not his communications team) if they have “-BO” at the end.

Did we miss someone? Tweet your suggestions to @WordsOfSarah!

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Social Media News Headlines – Yahoo! News

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Stars Pose for Ultimate Pin-up Calendar

The Pirelli Calendar is one of the most exclusive calendars in publication, featuring well-known photographers and even more famous models, and we have behind-the-scenes footage from shoots for the upcoming issue.

RELATED: Kate Moss Denies Drug & Anorexia Claims

The calendar -- famous for its limited availability -- has featured legendary models like Kate Moss and Naomi Campbell as well as Oscar-winning actresses like Penelope Cruz and Hilary Swank. But it's not just those in front of the camera that draw attention to the trade calendar. It also enlists the highly trained eye of notable fashion luminaries such as photographer Mario Sorrenti and designer/photographer Karl Lagerfeld.

The calendar is only given as a corporate gift to a restricted number of important Pirelli customers and celebrity VIPs, so an appearance in the calendar has become a mark of distinction for everyone chosen to collaborate on the project.

When the 2013 calendar releases in Rio de Janeiro, ET's Chris Jacobs will be there to cover the event and chat up the stars.

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AP PHOTOS: Simple surgery heals blind Indonesians

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

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

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

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

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

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

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

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

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

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Global shares gain as global economic outlook improves

LONDON (Reuters) - World share markets extended a week-long rally on Thursday as manufacturing surveys in China and the United States boosted confidence in global growth and euro zone data at least did not worsen the already weak outlook for that region.

The euro hit a three high against the dollar on optimism that a funding deal for debt-crippled Greece will ultimately be agreed - and despite data indicating the region's economy is on course for its deepest recession since early 2009.

"The driving factors behind euro/dollar are that the global macroeconomic backdrop seems to be improving and people are pricing out the tail risk on Greece," said Arne Lohmann Rasmussen, head of currency research at Danske Bank.

The euro rose 0.4 percent to $1.2880, its highest since November 2.

The view there will be a deal to help Athens was bolstered on Wednesday when German Chancellor Angela Merkel said after the failure of the latest talks, that an agreement was possible when euro zone ministers meet again on Monday.

The hopes for a Greek deal, combined with the better economic data and a growing view that a solution can be found to the U.S. fiscal crisis, lifted the MSCI world equity index 0.4 percent to 326 points, putting it on track for its best week since mid-September.

Europe's FTSE Eurofirst 300 index rose 0.4 percent to a two-week high of 1,101.70 points, with London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX between 0.3 and 0.7 percent higher.

However, trading was subdued, with U.S. markets closed for the Thanksgiving holiday.

CHINA BOOST

Confidence in the global economic outlook got its biggest boost from the HSBC flash Manufacturing Purchasing Managers Index (PMI) for China, which pointed to an expansion in activity after seven consecutive quarters of slowdown.

The Chinese data followed a report on Wednesday showing U.S. manufacturing grew in November at its quickest pace in five months, indicating strong economic growth in the fourth quarter.

"There are questions over whether the Chinese economy is really that bad or if the U.S. will take a long time to recover, but we are getting signs that the situation is not as bad as assumed," said Peter Braendle, head of European equities at Zurich-based Swisscanto Asset Management.

PMI data on the manufacturing and services sectors in Europe's two biggest economies, Germany and France, added to the better tone, revealing that conditions had not worsened in November, though both economies are still contracting.

However, the PMI numbers for the wider euro zone remain extremely weak, pointing to the recession-hit region shrinking by about 0.5 percent in the current quarter - its sharpest contraction since the first quarter of 2009.

"The weak PMI outturn for November is a major disappointment in light of the increases in the German and French PMI surveys, and suggest the recession on the euro zone's periphery is gathering further pace," said ING economist Martin van Vliet.

BOND DEMAND

In the fixed-income markets, the improving tone enabled Spain to sell 3.88 billion euros ($4.97 billion) of new government bonds on Thursday, even though it has already raised enough funds for this year's needs.

The average yield on the three-year bonds in the auction was 3.617 percent, compared with 3.66 percent at a sale earlier in November and a 2012 average of 3.79 percent.

Ten-year Spanish yields were 6 basis points lower on the day at 5.67 percent, having traded above 6 percent at the start of the week.

"It's a clear reflection that sentiment in Spain has improved markedly," RIA Capital Markets bond strategist Nick Stamenkovic said, adding that the market was expecting Madrid to ask for an international bailout early next year.

Expectations Greece will soon get more cash set Greek yields on course for their 10th consecutive daily fall. The February 2023 bond yield dropped to 16.16 percent, its lowest since it was issued during a debt restructuring in March.

COMMODITIES STEADY

Commodity prices had some support from the improving outlook for world demand, but the prospect of only modest global growth in 2013 kept the gains in check.

Three-month copper on the London Metal Exchange rose 0.6 percent to $7,735.25 a metric tonne, and spot gold inched up to $1,730.30 an ounce.

Oil prices were more mixed as the ceasefire between Israel and Gaza's Hamas rulers on Thursday eased concerns over the impact the unrest might have had on supply from the region, offsetting support from the prospect of more Chinese oil demand.

Brent slipped 7 cents to $110.90 a barrel, while U.S. crude was up 2 cents at $87.40.

($1 = 0.7801 euros)

(Additional reporting by Jessica Mortimer and Marius Zaharia; Editing by Will Waterman and Alastair Macdonald)

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Gaza ceasefire holds but mistrust runs deep

GAZA/JERUSALEM (Reuters) - A ceasefire between Israel and Hamas held firm on Thursday with scenes of joy among the ruins in Gaza over what Palestinians hailed as a victory, and both sides saying their fingers were still on the trigger.

In the sudden calm, Palestinians who had been under Israeli bombs for eight days poured into Gaza streets for a celebratory rally, walking past wrecked houses and government buildings.

But as a precaution, schools stayed closed in southern Israel, where nerves were jangled by warning sirens - a false alarm, the army said - after a constant rain of rockets during the most serious Israeli-Palestinian fighting in four years.

Israel had launched its strikes last week with a declared aim of ending rocket attacks on its territory from Gaza, ruled by the Islamist militant group Hamas, which denies Israel's right to exist. Hamas had responded with more rockets.

The truce brokered by Egypt's new Islamist leaders, working with the United States, headed off an Israeli invasion of Gaza.

It was the fruit of intensive diplomacy spurred by U.S. President Barack Obama, who sent his secretary of state to Cairo and backed her up with phone calls to Israeli Prime Minister Benjamin Netanyahu and Egyptian President Mohamed Mursi.

Mursi's role in cajoling his Islamist soulmates in Gaza into the U.S.-backed deal with Israel suggested that Washington can find ways to cooperate with the Muslim Brotherhood leader whom Egyptians elected after toppling former U.S. ally Hosni Mubarak, a bulwark of American policy in the Middle East for 30 years.

Mursi, preoccupied with Egypt's economic crisis, cannot afford to tamper with a 1979 peace treaty with Israel, despite its unpopularity with Egyptians, and needs U.S. financial aid.

MORE DEATHS

Despite the quiet on the battlefield, the death toll from the Gaza conflict crept up on both sides.

The body of Mohammed al-Dalu, 25, was recovered from the rubble of a house where nine of his relatives - four children and five women - were killed by an Israeli bomb this week.

That raised to 163 the number of Palestinians killed, more than half of them civilians, including 37 children, during the Israeli onslaught, according to Gaza medical officials.

Nearly 1,400 rockets struck Israel, killing four civilians and two soldiers, including an officer who died on Thursday of wounds sustained the day before, the Israeli army said.

Israel dropped 1,000 times as much explosive on the Gaza Strip as landed on its soil, Defense Minister Ehud Barak said.

Municipal workers in Gaza began cleaning streets and removing the rubble of bombed buildings. Stores opened and people flocked to markets to buy food.

Jubilant crowds celebrated, with most people waving green Hamas flags but some carrying the yellow emblems of the rival Fatah group, led by Western-backed President Mahmoud Abbas.

That marked a rare show of unity five years after Hamas, which won a Palestinian poll in 2006, forcibly wrested Gaza from Fatah, still dominant in the Israeli-occupied West Bank.

Israel began ferrying tanks northwards, away from the border, on transporters. It plans to discharge gradually tens of thousands of reservists called up for a possible Gaza invasion.

But trust between Israel and Hamas remains in short supply and both said they might well have to fight again.

"The battle with the enemy has not ended yet," Abu Ubaida, spokesman of Hamas's armed wing Izz el-Deen Al-Qassam Brigades, said at an event to mourn its acting military chief Ahmed al-Jaabari, whose killing by Israel on November 14 set off this round.

"HANDS ON TRIGGER"

The exiled leader of Hamas, Khaled Meshaal, said in Cairo his Islamist movement would respect the truce, but warned that if Israel violated it "our hands are on the trigger".

Netanyahu said he had agreed to "exhaust this opportunity for an extended truce", but told Israelis a tougher approach might be required in the future.

Facing a national election in two months, he swiftly came under fire from opposition politicians who had rallied to his side during the fighting but now contend he emerged from the conflict with no real gains for Israel.

"You don't settle with terrorism, you defeat it. And unfortunately, a decisive victory has not been achieved and we did not recharge our deterrence," Shaul Mofaz, leader of the main opposition Kadima party, wrote on his Facebook page.

In a speech, Ismail Haniyeh, Hamas's prime minister in Gaza, urged all Palestinian factions to respect the ceasefire and said his government and security services would monitor compliance.

According to a text of the agreement seen by Reuters, both sides should halt all hostilities, with Israel desisting from incursions and targeting of individuals, while all Palestinian factions should cease rocket fire and cross-border attacks.

The deal also provides for easing Israeli curbs on Gaza's residents, but the two sides disagreed on what this meant.

Israeli sources said Israel would not lift a blockade of the enclave it enforced after Hamas won a Palestinian election in 2006, but Meshaal said the deal covered the opening of all of the territory's border crossings with Israel and Egypt.

Israel let dozens of trucks carry supplies into the Palestinian enclave during the fighting. Residents there have long complained that Israeli restrictions blight their economy.

Barak said Hamas, which declared November 22 a national holiday to mark its "victory", had suffered heavy military blows.

"A large part of the mid-range rockets were destroyed. Hamas managed to hit Israel's built-up areas with around a metric tone of explosives, and Gaza targets got around 1,000 metric tonnes," he said.

He dismissed a ceasefire text published by Hamas, saying: "The right to self-defense trumps any piece of paper."

He appeared to confirm, however, a Hamas claim that the Israelis would no longer enforce a no-go zone on the Gaza side of the frontier that the army says has prevented Hamas raids.

(Additional reporting by Noah Browning in Gaza, Ori Lewis, Crispian Balmer and Dan Williams in Jerusalem; Writing by Jeffrey Heller and Alistair Lyon; Editing by Giles Elgood)

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Amazon Kindle Fire HD 8.9 is Good, But No iPad Killer [REVIEW]

Unboxing the Kindle Fire HD 8.9

Click here to view this gallery.

[More from Mashable: Apple Now Owns the iMessage Name]

Amazon expands its tablet sights with the bigger, more powerful Kindle Fire HD 8.9. Can it compete against Apple‘s iPad?

If there’s one company that deserves credit for reigniting the iPad competitor market, it’s Amazon. Despite some bugs and an overall blah design, its 7-inch Kindle Fire was the first Android tablet that made sense to consumers who gobbled it up to help the Fire grab 50% of the Android tablet market in just 6 months.

[More from Mashable: 9 Black Friday Deals For iPhone Owners]

That tablet essentially opened the flood gates for a new set of ever-more-powerful 7-inchers from, notably, Barnes & Noble and Google. All three companies have already updated their 7-inch offerings to more powerful components and higher-resolutions screens. They’re all still running Android, though Amazon and Barnes & Noble choose to hide the Google OS behind smarter and much more consumer-friendly interfaces.

All this led Apple to finally enter the mid-sized tablet space with the iPad Mini. It’s easily the best-looking tablet of the bunch, but also $ 120 more expensive than its nearest competitor.

The more interesting development, though, is Amazon‘s (and Barnes & Noble‘s) decision to go toe-to-toe with Apple’s full-size iPad and launch the Amazon Kindle Fire HD 8.9 (in 4G LTE and WiFi-only). The move is akin to a middle weight boxer putting on the pounds to take on the Heavyweight world champion. Amazon’s Kindle Fire HD is slightly smaller (the iPad is 9.7-inches), lighter (567g vs. 625g), cheaper ($ 369 for 32 GB model vs. $ 599 for the iPad 4th Gen — Amazon subsidizes with sleep-state ads, that I do not mind) and overall somewhat less powerful. In order to win the battle, the 8.9-inch Kindle Fire HD better be pretty nimble on its feet, while able to throw that all important knockout punch.

Short version of this story: the Kindle Fire HD 8.9 does some serious damage, but the iPad 4th Gen gets the decision and retains the tablet leader title.

The Kindle Fire HD 8.9 is by no means a failure. In many ways, it’s as good as the smaller Kindle Fire HD, but throughout my tests I noticed odd bugs and glitches (which should all be fixable by software) and a somewhat disturbing lack of power that’s especially obvious when you put the Fire HD 8.9 next to the iPad 4th Gen

What It Is

If you’ve never seen an iPad and someone handed you the Kindle Fire HD .9, you’d likely say its jet-black, soft-to-the-touch plastic body felt good in your hands and was more than effective at all the core tasks (reading, game playing, e-mail, web browsing).

Design-wise, the 8.9 device looks exactly like the 7-inch model, complete with the too-hard to find volume and power buttons. There are no other physical buttons on this device, but Amazon chooses to hide the few it has by making them the exact same color as the chassis and flush with the body. Every time I use the tablet I do the “where’s the damn button” dance, rotating the Kindle Fire HD round and round until I feel the buttons (since I can barely see them).

I have applauded Barnes & Noble for putting the physical “N” home button right on the face of their Nook HD. Bravo for having the guts to do this. Amazon apparently looks at Apple’s iPad home button and thinks to have anything similar would be seen as “copying” the Cupertino hardware giant, when instead they should realize that it works, consumers like it and tablets without it are at a distinct disadvantage.

Amazon’s interface has you make do with a virtual, slide-out home button that is always available. Problem is, I found times when it wasn’t available. When I played Spider-Man and Asphalt 7, the tiny little left-had bar would disappear and I couldn’t exit the game unless I hit the sleep/power button.

The rest of the Kindle Fire HD 8.9′s body is solid and unremarkable (if you read my Kindle fire HD 7 review, then you know exactly what to expect.). Like the iPad 4th Gen, the Kindle Fire HD 8.9 has a front-facing 720p-capable camera. It’s useful for capturing video, snapping 1 Megapixel images and, probably most important, Skype video chats. Skype has built a fairly sharp-looing Kindle Fire app, though the design doesn’t fully fit the larger 8.9-inch screen. Skype just updated its Android app for better tablet viewing and hopefully, we’ll see this update hit the Kindle Fire HD 8.9 as well.

The iPad also has an HD rear-facing camera. The Kindle fire HD 8.9 does not (Barnes & Noble leave out cameras altogether)

Not Packing a Punch

As a large-screen high-resolution tablet (though iPad’s 2048×1536 retina display beats it), the Kindle Fire HD 8.9 offers plenty of attractive screen real estate for web browsing, book and magazine reading and games. But the results can be mixed. Silk, Amazon‘s custom web browser, was occasionally less than responsive and games, though, they ran well, never looked half as good as they do on the considerably more expensive iPad 4.

Granted, you can’t always find the same high-quality immersive action games on both Android and iOS, but Asphalt 7 Heat is a notable exception and it throws the performance differences between the two tablets into stark contrast. Game play is equally responsive on both platforms: the Kindle Fire HD 8.9’s accelerometer reads my moves just as well as the iPad.

The graphics on the Kindle Fire HD, however, are reduced to blobs and blocks (palm trees without distinct leaves, buildings without discernible windows) . The iPad’s quad-core graphics simply overmatch the Kindle Fire. I have never, for example, seen an iPad draw the game as I was playing, as I did when I tried out The Amazing Spider-Man.

Additionally, I experienced more than my share of crashes with games and even magazine apps like Vanity Fair.

The Good

Not everyone, however, will compare the Kindle Fire HD 8.9 to the iPad. Some will see the $ 299 entry-level price point (for the 16 GB model) and appreciate the power, flexibility and utility of this device. Like all Fire’s before it, the Kindle Fire HD 8.9 makes it easy to consume mass quantities of content. Nearly every menu option: Games, Apps, Books, Music, Videos, Newsstand, puts you just one click away from shopping for fresh content. If you have an Amazon account (and who doesn’t) your desired book, music or movie is just a click away. Plus, you can still easily store any of it locally, and worry about running out of storage space, or in the cloud, and never worry about space or accessibility—you can get to that purchased Kindle content from any Kindle app or registered Amazon device.

Watching movies on the tablet is a pleasure. I streamed a couple through Amazon Prime; they looked good on the 1920 x 1200 screen and the Dolby Stereo speakers produced sharp, loud, almost room-filling sound—an impressive feat not even the iPad can match.

The Kindle Fire HD 8.9 also includes a mini-HDMI-out port, which prompted me to connect the tablet to my 47-inch LED HDTV so we could watch Disney’s Brave. Yes, I had to get up and tap on the Kindle screen each time I wanted to pause and restart the move, but otherwise, I was pretty impressed with how the Kindle handled the task.

Obviously I yearn for an Apple Airplay-like feature on Android tablets (rumor has it one is coming), but this is the next, best thing.

There isn’t a lot to say about the Kindle Fire HD 8.9-inch interface that I did not say in the Kindle Fire HD 7 review. I will note, however, that the increased real estate makes the trademark task carousel seem almost too big. Icons for everything from your recently played Spider-Man game to magazine apps, books and Web sites all sit side-by-side-by side. Some, like book covers, look gorgeous.

Others like a broken web-page link look stupid. Worse yet, none of them have labels, which can occasionally make it hard to identify which app or task you’re looking at. I’m just not sure this interface metaphor is sustainable.

Personally I prefer either the clean consistent look of iOS, or the uber-user friendly, family-oriented Nook HD profile-based one. Amazon may want to take a hard look at those and start over.

Staying Connected

The Kindle Fire HD 8.9 is also Amazon’s first cellular-based tablet. That fact puts it even more squarely in competition with the iPad (which obviously has always had 3G models and now offers blazing fast 4G LTE ones as well on all major carriers).

Amazon’s mobile broadband plans are a little more conservative, with just the AT&T 4G LTE option (the 32 GB 4G model that I tested lists for $ 499, which is still $ 224 less than a comparable iPad 4th Gen).

In my experience, the connectivity is superfast and fairly ubiquitous. Amazon‘s $ 49 (a year) flat fee plan is attractive, but with a cap of 250MB per month of data, it’s unlikely it will satisfy the most data-hungry users. If you do need more data, users can also get 3GB and 5GB data plans directly from AT&T on the device.

At press time, Amazon had not enabled streaming video over LTE. Having it sounds nice, but even with the most generous data plans, streaming video would eat it up faster than you can say, “I’m streaming Back to the Future in HD over 4G LTE on my Kindle fire HD!”

The reality for most users is that WiFi is plentiful and you’ll be hard pressed to find a spot where you can’t connect for free or a small one-off fee. It’s the reason Barnes & Noble’s line of HD Nooks do not include a cellular option.

Review continues after FreeTime Gallery

FreeTime

Kindle HD FreeTime Start

Click here to view this gallery.

Perhaps the best new addition to the Kindle Fire family is not a piece of hardware or new component, but the new FreeTime app. Amazon put a lot of loving care into this parental control interface, but almost mucks the whole thing up by hiding the tool under an app that you have to scroll down to (or search) to find. By contrast profiles and age and content controls are baked into the Barnes & Noble Nook HD in a way that makes them impossible to ignore.

Even so, once you do access FreeTime, I think you’ll be pleased with the level of control it gives you. I added test profiles for my two children and then hand-picked every app and piece of content they could access. I was also able to block broadband mobile and even set time limits for access to content and overall screen viewing time (on a per profile basis). The set-up is a bit wonky and it bizarrely switches between landscape and profile screens, but I still applaud the effort. It would make sense for Amazon to move FreeTime into a device set-up screen. If the user has no additional family members or kids using the device, they can easily skip it.

To Buy or Not to Buy

Amazon’s expansive content and shopping ecosystem has always been a strong draw and it’s just as good in this large screen tablet as it was in the very first Kindle Fire. Still, you have to compare it with the equally strong iOS ecosystem, which is no slouch in the content shopping department. Apple doesn’t connect you as seamlessly to physical products, but there’s nothing difficult about shopping on Amazon.com via your iPad. It’s also notable that tablet competitor Barnes & Noble has added movie and TV viewing, rental and purchase.

Ultimately, all of these tablets are offering more and more of the same content options, apps, and features. The decision will likely come down to price, app selection, interface and overall ease of use. The Amazon Kindle fire HD 8.9 scores well on all of these, but does not always lead.

For the price, it’s a great value, but I want Amazon to focus on hardware and interface design for the next big update. Then, they may get my full endorsement.

This story originally published on Mashable here.

Gadgets News Headlines – Yahoo! News

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Dwayne Johnson Battles Ruthless Cartel in 'Snitch'

Dwayne Johnson takes on a ruthless drug cartel in the gritty action-thriller Snitch, and we have a first look at the hard-driving trailer!

Video: Women Go Crazy for Dwayne Johnson's 'Pec Pop'

Based on a true story, Snitch finds Johnson as a concerned father faced with a dramatic choice after his teenage son is wrongly accused of a drug distribution crime. With his boy facing a minimum prison sentence of 10 years, the desperate and determined Johnson makes a deal with the U.S. attorney to work as an undercover informant and infiltrate a dangerous drug cartel (whose key player is played by Benjamin Bratt). Willing to risk everything to free his son, can Johnson make it out alive?

Video: Dwayne Johnson's 'Million-Dollar Smile'

Also starring Susan Sarandon and Barry Pepper and directed by former stunt master Ric Roman Waugh, Snitch hits theaters in 2013.

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Study finds mammograms lead to unneeded treatment

Mammograms have done surprisingly little to catch deadly breast cancers before they spread, a big U.S. study finds. At the same time, more than a million women have been treated for cancers that never would have threatened their lives, researchers estimate.

Up to one-third of breast cancers, or 50,000 to 70,000 cases a year, don't need treatment, the study suggests.

It's the most detailed look yet at overtreatment of breast cancer, and it adds fresh evidence that screening is not as helpful as many women believe. Mammograms are still worthwhile, because they do catch some deadly cancers and save lives, doctors stress. And some of them disagree with conclusions the new study reached.

But it spotlights a reality that is tough for many Americans to accept: Some abnormalities that doctors call "cancer" are not a health threat or truly malignant. There is no good way to tell which ones are, so many women wind up getting treatments like surgery and chemotherapy that they don't really need.

Men have heard a similar message about PSA tests to screen for slow-growing prostate cancer, but it's relatively new to the debate over breast cancer screening.

"We're coming to learn that some cancers — many cancers, depending on the organ — weren't destined to cause death," said Dr. Barnett Kramer, a National Cancer Institute screening expert. However, "once a woman is diagnosed, it's hard to say treatment is not necessary."

He had no role in the study, which was led by Dr. H. Gilbert Welch of Dartmouth Medical School and Dr. Archie Bleyer of St. Charles Health System and Oregon Health & Science University. Results are in Thursday's New England Journal of Medicine.

Breast cancer is the leading type of cancer and cause of cancer deaths in women worldwide. Nearly 1.4 million new cases are diagnosed each year. Other countries screen less aggressively than the U.S. does. In Britain, for example, mammograms are usually offered only every three years and a recent review there found similar signs of overtreatment.

The dogma has been that screening finds cancer early, when it's most curable. But screening is only worthwhile if it finds cancers destined to cause death, and if treating them early improves survival versus treating when or if they cause symptoms.

Mammograms also are an imperfect screening tool — they often give false alarms, spurring biopsies and other tests that ultimately show no cancer was present. The new study looks at a different risk: Overdiagnosis, or finding cancer that is present but does not need treatment.

Researchers used federal surveys on mammography and cancer registry statistics from 1976 through 2008 to track how many cancers were found early, while still confined to the breast, versus later, when they had spread to lymph nodes or more widely.

The scientists assumed that the actual amount of disease — how many true cases exist — did not change or grew only a little during those three decades. Yet they found a big difference in the number and stage of cases discovered over time, as mammograms came into wide use.

Mammograms more than doubled the number of early-stage cancers detected — from 112 to 234 cases per 100,000 women. But late-stage cancers dropped just 8 percent, from 102 to 94 cases per 100,000 women.

The imbalance suggests a lot of overdiagnosis from mammograms, which now account for 60 percent of cases that are found, Bleyer said. If screening were working, there should be one less patient diagnosed with late-stage cancer for every additional patient whose cancer was found at an earlier stage, he explained.

"Instead, we're diagnosing a lot of something else — not cancer" in that early stage, Bleyer said. "And the worst cancer is still going on, just like it always was."

Researchers also looked at death rates for breast cancer, which declined 28 percent during that time in women 40 and older — the group targeted for screening. Mortality dropped even more — 41 percent — in women under 40, who presumably were not getting mammograms.

"We are left to conclude, as others have, that the good news in breast cancer — decreasing mortality — must largely be the result of improved treatment, not screening," the authors write.

The study was paid for by the study authors' universities.

"This study is important because what it really highlights is that the biology of the cancer is what we need to understand" in order to know which ones to treat and how, said Dr. Julia A. Smith, director of breast cancer screening at NYU Langone Medical Center in New York. Doctors already are debating whether DCIS, a type of early tumor confined to a milk duct, should even be called cancer, she said.

Another expert, Dr. Linda Vahdat, director of the breast cancer research program at Weill Cornell Medical College in New York, said the study's leaders made many assumptions to reach a conclusion about overdiagnosis that "may or may not be correct."

"I don't think it will change how we view screening mammography," she said.

A government-appointed task force that gives screening advice calls for mammograms every other year starting at age 50 and stopping at 75. The American Cancer Society recommends them every year starting at age 40.

Dr. Len Lichtenfeld, the cancer society's deputy chief medical officer, said the study should not be taken as "a referendum on mammography," and noted that other high-quality studies have affirmed its value. Still, he said overdiagnosis is a problem, and it's not possible to tell an individual woman whether her cancer needs treated.

"Our technology has brought us to the place where we can find a lot of cancer. Our science has to bring us to the point where we can define what treatment people really need," he said.

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Online:

Study: http://www.nejm.org/doi/full/10.1056/NEJMoa1206809

Screening advice: http://www.uspreventiveservicestaskforce.org/uspstf/uspsbrca.htm

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Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Wall Street rises after Gaza truce in thin holiday trade

NEW YORK (Reuters) - Stocks advanced on Wednesday after a ceasefire was declared to end the flare-up in violence between Israel and the Palestinians, though the lack of a deal to release aid to Greece kept a lid on gains.

Investors also remained anxious about the tax increases and spending cuts that are poised to come into effect in the new year - known as the "fiscal cliff" - though policymakers are not expected to get back to negotiations until after Thursday's Thanksgiving holiday.

Trading volume was light ahead of Thursday's market holiday. The stock market also will close early at 1 p.m. (1800 GMT) on Friday.

Greece's international lenders failed again to reach a deal to release emergency aid to the debt-saddled country. Lenders will try again next Monday, but Germany signaled that significant divisions remain.

A truce between Israel and Hamas gave stocks some support around midday after Egypt announced a ceasefire will come into effect later in the day.

Fears that the fiscal cliff discussions in Washington could be drawn out or yield no resolution have been at the forefront of investors' minds in recent weeks. Combined with concerns over the euro zone's continued debt problems, the worries had taken more than 5 percent off the S&P 500 since Election Day in early November.

Positive comments from U.S. politicians that they will work to find common ground have helped the S&P 500 recoup some of that loss in recent sessions.

"I think the focus is heavy on what are we doing about fiscal cliff," said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia.

"Are these guys talking? Are there going to be substantive decisions made?"

St Jude Medical shares tumbled 13.3 percent to $30.96 after an inspection report from health regulators raised new safety concerns about one of the company's leads that are used with implantable defibrillators, analysts said.

A small gain in International Business Machines helped the Dow outperform the other indexes. IBM was up 0.7 percent at $190.47.

The Dow Jones industrial average <.dji> added 49.35 points, or 0.39 percent, to 12,837.86. The Standard & Poor's 500 Index <.spx> edged up 2.62 points, or 0.19 percent, to 1,390.43. The Nasdaq Composite Index <.ixic> gained 8.28 points, or 0.28 percent, to 2,924.96.

Salesforce.com Inc jumped 7.6 percent to $157.03 after the business software provider beat Wall Street's expectations for the third quarter and maintained its outlook for the rest of the year.

But Deere & Co dragged on the S&P 500 after the world's largest farm equipment maker reported a weaker-than-expected quarterly profit. Its stock lost 4 percent to $82.52.

The market did not derive much direction from the day's economic data, with initial jobless claims falling last week, as expected.

Other data showed manufacturing picked up at its quickest pace in five months in November, while consumer sentiment improved only slightly.

The focus will likely turn to retailers on Friday as analysts try to assess how strong the holiday shopping season will be this year, Brunner said. Holiday shopping traditionally kicks off the day after Thanksgiving, known as Black Friday, as stores offer deals and discounts to lure consumers.

(Editing by Jan Paschal)

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Hamas and Israel agree to ceasefire

CAIRO/GAZA (Reuters) - Israel and the Islamist Hamas movement agreed on Wednesday to an Egyptian-sponsored ceasefire to halt an eight-day conflict around the Gaza Strip that has killed more than 140 Palestinians and five Israelis.

Announcing the ceasefire in Cairo, Egyptian Foreign Minister Mohamed Kamel Amr said it would come into force at 9 p.m. (15:00 EDT) - which would give 1.7 million Palestinians respite from days of ferocious air strikes and halt rocket attacks from Gaza that for the first time reached Tel Aviv and Jerusalem.

A flurry of explosions shook the city of Gaza as the truce deadline approached and several rockets landed in the southern Israeli city of Beersheba.

Amr said mediation efforts had "resulted in understandings to cease fire, restore calm and halt the bloodshed".

U.S. Secretary of State Hillary Clinton, standing alongside him, thanked Egypt's new Islamist President Mohamed Mursi for his peace efforts, saying his government was assuming "responsibility, leadership" in the region.

Israeli Prime Minister Benjamin Netanyahu told U.S. President Barack Obama he was ready to give the ceasefire a chance, but that "more forceful action" might be needed if it failed, according to a statement from his office.

Obama in turn reiterated his country's commitment to Israel's security and pledged to seek funds for a joint missile defense program, the White House said.

Senior Hamas lawmaker Ahmed Bahar said Israel had "submitted to the conditions and demands set by the resistance" and he hailed the outcome as a triumph.

"Resistance achieved a historical victory against the occupation and laid the foundation for the battle of liberation of the full land and sacred sites," Bahar, deputy speaker of the Palestinian parliament, said in a statement from his office.

According to a text of the agreement seen by Reuters, both sides should halt all hostilities, with Israel desisting from incursions and targeting of individuals, while all Palestinian factions should cease rocket fire and cross-border attacks.

The deal also provides for easing Israeli restrictions on Gaza's residents, who live in what British Prime Minister David Cameron has called an "open prison".

The text said procedures for implementing this would be "dealt with after 24 hours from the start of the ceasefire".

Israeli sources said Israel would not lift a blockade of the enclave it enforced after Hamas, which rejects the Jewish state's right to exist, won a Palestinian election in 2006.

BUS BLAST

The ceasefire was forged despite a bus bomb explosion that wounded 15 Israelis in Tel Aviv earlier in the day and despite more Israeli air strikes that killed 10 Gazans.

The Tel Aviv blast, near the Israeli Defence Ministry, touched off celebratory gunfire from militants in Gaza and had threatened to complicate truce efforts. It was the first serious bombing in Israel's commercial capital since 2006.

In Gaza, Israel struck more than 100 targets, including a cluster of Hamas government buildings. Medical officials said a two-year-old boy was among the dead.

Israel has carried out more than 1,500 strikes since the offensive began with the killing of a top Hamas commander and with the declared aim of deterring Hamas from launching rocket attacks that have long disrupted life in southern Israeli towns.

Medical officials in Gaza said 146 Palestinians, more than half of them civilians, including 36 children, have been killed in Israel's offensive. Nearly 1,400 rockets have been fired into Israel, killing four civilians and a soldier, the military said.

Egypt, a longstanding U.S. ally now under Islamist leadership after last year's overthrow of Hosni Mubarak, took center stage in diplomatic efforts to halt the carnage, using its privileged ability to speak directly to both sides.

"This is a critical moment for the region," Clinton said. "Egypt's new government is assuming the responsibility and leadership that has long made this country a cornerstone for regional stability and peace."

She also pledged to work with partners in the region "to consolidate this progress, improve conditions for the people of Gaza, provide security for the people of Israel".

Egypt has walked a fine line between its sympathies for Hamas, an offshoot of the Muslim Brotherhood to which Mursi belongs, and its need to preserve its 1979 peace treaty with Israel and its ties with Washington, its main aid donor.

"Egypt calls on all to monitor the implementation of what has been agreed under Egypt's sponsorship and to guarantee the commitment of all the parties to what has been agreed," its foreign minister said at the news conference in Cairo.

Israel, the top recipient of U.S. assistance, agreed to stop fighting after having gathered troops and armor on the border with Gaza in preparation for a high-risk ground assault.

Netanyahu, in his conversation with Obama, "agreed to his recommendation to give the Egyptian ceasefire proposal a chance, and in this way provide an opportunity to stabilize the situation and calm it before any more forceful action would be necessary", an Israeli statement said.

(Additional reporting by Ori Lewis and Crispian Balmer in Jerusalem, Yasmine Saleh and Shaimaa Fayed in Cairo and Margaret Chadbourn in Washington; Editing by Alastair Macdonald)

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