Kendall & Kylie Jenner Get Crazy-Expensive Christmas Gifts







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12/26/2012 at 05:30 PM ET











Kendall and Kylie Jenner Christmas GiftsMichael Simon/Startraks. Insets: Courtesy Kendall and Kylie Jenner


The youngest of the Kardashian-Jenner clan took to Instagram to share the goods they got on Dec. 25. And if the presents are any indication, it’s clear both sisters were nice, not naughty this year. Very, very nice actually.


Kendall, 17, received two pairs of luxe shoes — kicks that we certainly didn’t own when we were in high school. She got a pair of black Christian Louboutin Pigalle Spike heels (center), which retail for oh, just $1,195 from her older sister Khloé Kardashian Odom. (Kendall captioned the photo, “whyyy thank you @khloekardashian!!!”)


And along with the pumps, Kendall received a more casual, yet equally expensive, pair of Balenciaga boots. (Hers are the center pair in the right picture, above.)



PHOTOS: TWEET US A PIC OF WHAT YOU GOT FOR X-MAS USING #YTbestgift


Kylie, 15, also was gifted an accessory with a mega price tag: a black Céline luggage tote (left), which was just named the “It” bag of 2012 and starts at around $2,000. The teen didn’t mention who gave her the purse, so perhaps it was a little (okay, not so little) present for herself?


Tell us: What do you think of giving Christmas gifts this extravagant to teens?


–Jennifer Cress


PHOTOS: SHOP STARS’ HOLIDAY STYLE — FOR LESS!




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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Wall Street inches up as Obama to return to "cliff'"debate


NEW YORK (Reuters) - Stocks edged higher on Wednesday as President Barack Obama cut short his vacation and readied to return to Washington a day ahead of last-minute talks to avert a series of tax increases and government spending cuts set to begin next week.


The Dow Jones industrial average <.dji> gained 22.33 points, or 0.17 percent, to 13,161.41. The Standard & Poor's 500 Index <.spx> gained 1.68 points, or 0.12 percent, to 1,428.34. The Nasdaq Composite Index <.ixic> dropped 0.30 points, or 0.01 percent, to 3,012.30.


(Reporting By Edward Krudy; Editing by Chizu Nomiyama)



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Syria to discuss Brahimi proposals with Russia


BEIRUT (Reuters) - Syrian President Bashar al-Assad dispatched a senior diplomat to Moscow on Wednesday to discuss proposals made by envoy Lakhdar Brahimi to end the conflict convulsing his country, Syrian and Lebanese sources said.


Brahimi, who met Assad on Monday as part of a series of planned talks with Syrian officials and dissidents in Damascus this week, is trying to arrange a peaceful transfer of power, but has disclosed little about how this might be achieved.


More than 44,000 Syrians have died in the revolt against four decades of Assad family rule, a conflict that began with peaceful protests but which has descended into civil war.


Past peace efforts have floundered, with world powers divided over what has become an increasingly sectarian struggle between mostly Sunni Muslim rebels and Assad's security forces, drawn primarily from his Shi'ite-rooted Alawite minority.


Deputy Foreign Minister Faisal Makdad flew to Moscow to discuss the details of the talks with Brahimi, said a Syrian security source, who would not say if a deal was in the works.


However, a Lebanese official close to Damascus said Makdad had been sent to seek Russian advice on a possible agreement.


He said Syrian officials were upbeat after talks with Brahimi, the U.N.-Arab League envoy, who met Foreign Minister Walid Moualem on Tuesday a day after his session with Assad, but who has not outlined his ideas in public.


"There is a new mood now and something good is happening," the official said, asking not to be named. He gave no details.


Russia, which has given Assad diplomatic and military aid in the 21-month-old uprising, has said it is not protecting him, but has fiercely criticized any foreign backing for rebels and, with China, has blocked U.N. Security Council action on Syria.


On Saturday, Russian Foreign Minister Sergei Lavrov said Syria's civil war had reached stalemate and international efforts to persuade Assad to quit would fail.


Assad's opponents insist the Syrian president must go, given the scale of bloodshed and destruction they blame on him.


Moaz Alkhatib, head of the internationally recognized Syrian National Coalition opposition, has criticized any notion of a transitional government in which Assad would stay on as a figurehead president stripped of any real powers.


SHELLING KILLS 20


The comments on Alkhatib's Facebook page on Monday suggested that the opposition believed this was among Brahimi's ideas.


"We have told every official we have met: the government and its president cannot stay on in power, with or without their powers. This is unacceptable to Syrians," Alkhatib wrote.


"The coalition leadership has told Lakhdar Brahimi directly that this type of solution is rejected."


While Brahimi was striving to bridge the vast gaps between Assad and his foes, fighting raged on across the country and a senior Syrian military officer defected to the rebels.


Syrian army shelling killed about 20 people, at least eight of them children, in the northern province of Raqqa, a video posted by opposition campaigners showed.


The video published by the Syrian Observatory for Human Rights showed rows of blood-stained bodies laid out on blankets. The sound of crying relatives could be heard in the background.


The shelling hit the province's al-Qahtania village, but it was unclear when the attack had occurred.


Rebels re-launched their assault on the Wadi Deif military base in the northwestern province of Idlib, in a critical battle for a major army base and fuel storage and distribution point.


Activist Ahmed Kaddour said rebels were firing mortars and had attacked the base with an explosives-rigged vehicle.


The British-based Observatory, which uses a network of contacts in Syria to monitor the conflict, said a rebel commander was among several killed in Wednesday's fighting, which it said was among the heaviest there for months.


As violence has intensified in recent weeks, with Assad using his air power and artillery to contain rebel advances, daily death tolls have climbed. At least 190 were killed across the country on Tuesday alone, the Observatory said.


The head of Syria's military police changed sides and declared allegiance to the anti-Assad revolt.


"I am General Abdelaziz Jassim al-Shalal, head of the military police. I have defected because of the deviation of the army from its primary duty of protecting the country and its transformation into gangs of killing and destruction," the officer said in a video published on YouTube.


A Syrian security source confirmed the defection, but said Shalal was near retirement and had only defected to "play hero".


Syrian Interior Minister Mohammed Ibrahim al-Shaar left Lebanon for Damascus after being treated in Beirut for wounds sustained in a rebel bomb attack this month.


(Additional reporting by Laila Bassam; Writing by Alistair Lyon)



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Apps to help achieve New Year’s resolutions






(Reuters) – Whether it is improving health or managing finances better, about 87 percent of Americans will make resolutions for 2013 and there are plenty of apps to help them achieve their goals.


Nearly half of New Year’s resolutions are about setting health-related goals, which is the most popular category, according to a recent survey by online broker TD Ameritrade.






Rather than jumping into a rigorous fitness routine, a new app called 5K Runner suggests it might be better to ease into things slowly and focus on building sustainable habits. The iPhone app helps couch potatoes ramp up their running distance to 5 km over the course of eight weeks.


“You’re slowly building this routine into your daily life with a lot of success and after eight weeks you’re literally running 5K, which is pretty big if (initially) you’re not running at all,” said David-Michel Davies, the executive director of The Webby Awards, an annual ceremony honoring Internet companies.


The app guides runners through each run, alternating periods of running and walking for 35 minutes.


Davies also recommends Nike+ Running and RunKeeper, two popular and free fitness apps, which use GPS to track distance traveled, speed and calories burned. Both apps are available for iOS and Android devices.


Diet is another component of good health and a focus of many apps. Fooducate is an iPhone and Android app that helps shoppers make healthier purchases at the supermarket by allowing them to scan the barcodes of products and get insight into how healthy the product is.


Their database, which contains over 200,000 products, displays a grade for the product and information on its contents. It can show whether there are hidden additives or the probability of containing genetically modified ingredients.


“There are a lot of healthy people out there who unknowingly buy products that have an inordinate amount of salt in them,” Davies said.


DietBet is an app for people with a competitive streak. Available for iPhone and on the Web, it allows its users to join in a four-week weight loss challenge to lose 4 percent of weight. Everyone bets money, which goes into a fund, and submits proof of weight lost. People who meet the challenge split the money.


“It comes back again to how people get motivated,” Davies said. “Gamification is something that technology has really enabled and for some people it really works.”


To stay on top of finances, Davies recommends Mint, which provides a visual view of all financial accounts and is available for iOS, Android and on the Web.


(Reporting by Natasha Baker in Toronto; Editing by Patricia Reaney and Eric Beech)


Tech News Headlines – Yahoo! News





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Bethenny Frankel: 'Marriage Doesn't Come Easily for Me'






TV News










12/26/2012 at 09:00 AM EST







Bethenny Frankel and husband Jason Hoppy with daughter Bryn


Jae Donnelly/INF


After calling this their "toughest year ever," reality star Bethenny Frankel announced on Dec. 23 that she and Jason Hoppy, her husband of nearly three years, were separating.

Having said earlier this year that the two were fighting for their marriage (her show Bethenny Ever After focused on the struggle), Frankel, 42, had revealed her concerns to PEOPLE during an interview in May.

"Nothing comes easily for me," she said at the time. "Being successful in business doesn't come easy for me. Marriage doesn't come easily for me. You have to fight for everything."

Regarding her relationship with Hoppy, "Our core issues are wanting the other person to be somebody they are not," she said. "Jason is more balanced. He doesn't want to work 24 hours a day. He wants to play golf and go out with his friends."

She added, "The irony is, we chose each other for who the person is – and then sometime you want it both ways."

Although much of what the couple went through ended up on TV ("Money, family, gender roles, we just keep fighting over them," she said. "It's almost like a scab that you keep picking at"), she insisted that having their lives in the spotlight did not worsen the situation.

"Our issues are our issues, and I can't say reality TV exacerbates that," she said. "We had our issues when we were dating. We always had the struggle to accept one another."

Their basic issue? "He feels there are so many people who have a piece of me," she said. "The core issues are he wants me to open up to let me in, and my basic thing is, I don’t want to be in a situation where I can't say what I feel. I have to be in a relationship where I can say what I feel even if it's wrong – so we can work through it."

Ideally, she said, "I just wanted to be able to say something, without him saying I am a bad person for having those feelings. What can I be, besides honest?"

In the end, emphasizing that the happiness of 2½-year-old daughter Bryn remained her chief concern, Frankel said, "I've often thought that if I didn't make it work, I would end up alone and that I would never want to be married again."

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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Yen on defensive on U.S. fiscal worry, helps Nikkei

TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday.


The dollar rose to a 20-month high of 84.965 yen early on Tuesday in Asia, as Japanese markets caught up with global investors who had reacted overnight to incoming Japanese Prime Minister Shinzo Abe's weekend comments that raised the pressure on the Bank of Japan.


During a meeting on Tuesday with officials from Japan's major business lobby, Keidanren, Abe reiterated calls on the BOJ to conduct bold monetary easing to beat deflation by setting an inflation target of 2 percent.


The head of Abe's coalition partner said on Tuesday the coalition party and Abe had agreed to set a 2 percent inflation target and compile a large stimulus budget to help the economy return to growth and overcome deflation.


The yen has come under pressure as a result of expectations that the BOJ will be compelled to adopt more drastic monetary stimulus measures next year.


The dollar was expected to stay firm this week as investors repatriate dollars, and as the U.S. fiscal impasse is likely to continue to sap investor appetite for risky assets and raise the dollar's safe-haven appeal.


"The dollar is seen relatively well bid, with all focus on the fiscal cliff," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.


"Negotiations may be carried over the weekend, but markets still expect a deal to be struck by December 31. It is unthinkable that the U.S. will risk driving its economic growth sharply lower by not agreeing to avoid it."


U.S. lawmakers and President Barack Obama were on Christmas holiday and talks were unlikely to resume until later in the week.


House of Representatives Speaker John Boehner failed to gain support for a tax plan at the end of last week, raising fears that the United States may face the "fiscal cliff" of some $600 billion in automatic spending cuts and tax increases set to start on January 1.


Japan's Nikkei stock average <.n225> resumed trading after a three-day weekend with a 1.1 percent gain, recapturing the key 10,000 mark it ceded on Friday after Boehner's failure sparked a broad market sell-off and the Tokyo benchmark closed down 1 percent. The Nikkei was likely to be supported as long as the yen stayed weak. <.t/>


"Ongoing optimism about the weak yen is lifting hopes that exporters' earnings will be better than expected," said Hiroichi Nishi, general manager at SMBC Nikko Securities.


Analysts say a near-term correction may be possible as the index is now in "overbought" territory after gaining 16.2 percent over the last six weeks, hitting a nine-month high last Friday. Its 14-day relative strength index was at 72.34, above the 70 level that signals an overbought condition.


MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> nudged up 0.1 percent, driven higher by surging Shanghai shares, as most Asian bourses were shut for Christmas.


The Shanghai Composite Index <.ssec> soared over 2 percent to five-month highs as investors bought property stocks on mounting optimism about the sector. Taiwan shares <.twii> jumped 1.3 percent on gains in technology and financial shares.



Asset performance in 2012: http://link.reuters.com/muc46s


2012 commodities returns: http://link.reuters.com/faz36s


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U.S. HOLDS 2013 KEY


Goro Ohwada, president and CEO at Japan-based fund of hedge funds Aino Investment Corp, said investors were likely to focus on economic fundamentals and the United States for cues on investment direction in 2013.


"There is a feeling that an investment strategy based on economic fundamentals may finally work next year, with asset prices more closely reflecting fair value. The problem is, we don't know yet which asset is a better bet than others," Ohwada said, adding that oil and gold appeared to be near their highs.


Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory, said commodities and energy prices will likely move in tight ranges in 2013, with investors eyeing political events, including the U.S. fiscal cliff outlook, Italian parliamentary election set for February 24-25, and Germany's elections in September.


"The macroeconomic policies taken this year around the world to support growth are expected to result in a moderate recovery in 2013 to reduce an excessive downside risk to prices. This will likely keep commodities, gold and energy prices near their highs," Niimura said.


(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Edmund Klamann and Daniel Magnowski)



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Egyptians fret over economy after rancorous vote on constitution


CAIRO (Reuters) - Egypt prepared to announce on Tuesday the result of a vote on a new constitution that Islamist President Mohamed Mursi hails as a step toward stability in a country beset by political and economic crisis.


But critics say that by ramming through the basic law, Mursi has angered his liberal, leftist and Christian opponents, and may have squandered any chance of building a broad consensus on tax rises needed to rein in a crushing budget deficit.


Unofficial tallies from Mursi's Muslim Brotherhood showed the charter was approved by a 64 percent majority. The electoral commission will announce the official result at 1700 GMT, with the final numbers widely expected to confirm earlier estimates.


Mursi believes the constitution will end a protracted period of turmoil that has haunted the most populous Arab nation since the fall of military-backed strongman Hosni Mubarak in 2011.


But ordinary people and some commentators worry that Mursi's approach in pushing through the contentious text will only galvanize his rivals to capitalize on any public backlash against austerity rather than help sell reforms to the nation.


Hossam El-Din Ali, a 35-year-old newspaper vendor in central Cairo, said he agreed the new constitution would help bring some political stability but like many others he feared the possible austerity measures lying ahead.


"People don't want higher prices. People are upset about this," he said. "There is recession, things are not moving. But I am wishing for the best, God willing."


If the "yes" vote is confirmed, a parliamentary election will follow in about two months, setting the stage for Islamists to renew their struggle with more liberal-minded opponents.


On the political front, tensions remain high. The opposition says the constitution, crafted mostly by Mursi's Islamist allies, fails to guarantee personal freedoms and the rights of women and minorities. The government denies this.


ECONOMIC WORRIES


Once a darling of emerging market investors, Egypt's economy has taken a hammering since Mubarak's fall.


The budget deficit surged to a crippling 11 percent of gross domestic product in the financial year that ended in June 2012 and is forecast to exceed 10 percent this year.


In a further worrying sign, Egypt has made it illegal for travelers to carry more than $10,000 in cash in or out of the country amid growing fears the government may not be able to get its fragile finances under control.


Reflecting investor concerns, Standard and Poor's cut Egypt's long-term credit rating this week and said another cut was possible if political turbulence worsened.


Adding fuel to people's worries, the central bank also said it was taking steps to safeguard bank deposits, in a statement which emerged after some Egyptians said they had taken out cash out of concern their accounts would be frozen by authorities.


Without broad support, Mursi will find it hard to implement reforms needed to secure a $4.8 billion loan from the International Monetary Fund.


Shortly before the referendum, Mursi enraged many by introducing hikes on the sales tax on goods and services that ranged from alcoholic beverages, cigarettes and mobile phone calls to automobile licenses and quarrying permits.


In an embarrassing policy U-turn, he withdrew them within hours under criticism from his opponents and the media.


Facing public anger, the Muslim Brotherhood's party, which propelled Mursi to office in an election earlier this year, may now also face a tougher fight in the parliamentary election.


(Writing by Maria Golovnina; Editing by Alistair Lyon)



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Mundie, one of Gates’ successors, to retire from Microsoft






NEW YORK (Reuters) – Craig Mundie, one of two Microsoft Corp executives who took over Bill Gates‘ role at the company, has relinquished control of Microsoft’s large research organization and is to retire from the company in 2014.


Mundie is taking on a new role as a senior adviser to Chief Executive Steve Ballmer, according to a memo circulated internally earlier this month but only made public on Monday.






Eric Rudder, another Microsoft veteran, is taking on responsibility for Microsoft Research, Trustworthy Computing, and the Technology Policy Group, which were all run by Mundie.


A 20-year Microsoft veteran, Mundie was one of two men hand-picked by co-founder Gates to take over leadership of the technical side of Microsoft when he retired from day-to-day work at the company in 2008.


Mundie took over responsibility for the company’s long-term research activities, while Ray Ozzie became chief software architect. Ozzie left Microsoft in 2010. According to Ballmer’s memo, Mundie will retire from Microsoft in 2014, when he will be 65.


Mundie’s new role was first reported on Monday by the All Things D tech blog.


(Reporting By Bill Rigby; Editing by Steve Orlofsky)


Tech News Headlines – Yahoo! News





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