Doubt on Fed easing hits shares, commodities

LONDON (Reuters) - World share markets fell and the dollar and safe-haven assets rose on Thursday, a day after minutes of the Federal Reserve's last policy meeting cast doubts over how much longer the U.S. central bank would stick to its stimulus plan.

After the minutes were released the euro skidded to a six-week low against the dollar of $1.3235, Asian shares experienced their worst day in seven months and gold hit its lowest price since last July, at $1,554.49 an ounce.

"Disagreement over the current path is causing concern for a market that demands certainty," Ben Taylor, a trader at CMC Markets, said of evidence Fed officials were divided on policy.

MSCI's world equity index <.miwd00000pus>, which only on Wednesday had touched a 4-1/2 year high, fell 0.5 percent as the benchmark S&P 500 index <.spx> suffered its steepest daily percentage decline since mid-November.

European markets joined in the selloff with the FTSE Eurofirst 300 index <.fteu3> shedding 0.5 percent, led lower by the banks <.sxip>, which have been at forefront of recent gains. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were all down as much as 0.7 percent.

However, market sentiment could get some support from the release of first reading from February Purchasing Managers' Indexes (PMIs) from across Europe later in the day.

The euro-zone composite PMI is expected to have risen for a fourth consecutive month in February to around 49.0, adding to evidence that economic conditions across the recession-hit region are gradually improving.

The PMI reading would still leave the composite index below the 50 mark which separates expansion from contraction and analysts estimate it would be consistent with a small fall in GDP for a fourth consecutive quarter.

In the fixed income market, German bonds, normally considered a safe haven, saw prices rise with the main Bund futures contract up 30 ticks to 142.85. The move reversed a fall seen on Wednesday but kept the contract within a narrow band before an Italian general election this weekend.

Spain was set to test market sentiment for peripheral euro zone debt with the sale of up to four billion euros of new paper.

The dollar followed up a big gain on Wednesday against a basket of major currencies to add a further 0.1 percent, although it dipped slightly against the yen to 93.41.

Among commodities, London copper struck its lowest in nearly two months, at $7,880 a metric ton, while crude oil extended losses after posting its biggest daily fall so far this year on Wednesday.

(Reporting by Richard Hubbard; Editing by Alastair Macdonald)

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Bulgarian Government Is Reported Set to Resign

The government of Bulgaria will resign Wednesday afternoon following a week of sometimes violent protests, Prime Minister Boyko Borisov said in a surprise announcement to Parliament. "The people gave us power and today we are returning it," he said, according to local news reports.

The mass protests were triggered by electricity price increases and corruption scandals, including one over the nominee to head the state electricity regulatory commission, which sets rates. She was alleged to have sold cigarettes illegally online and her nomination was later withdrawn.

Protests in cities around the country on Sunday night were believed to be the biggest the country had seen in 16 years.

Trying to appease the protesters, the prime minister said Tuesday that the license of the Czech utility CEZ, which provides power to many residential customers in Bulgaria, would be withdrawn.

Opposition political parties had been attempting to exploit public anger over the government’s austerity measures as general elections planned for July approached. They are now likely to be held earlier.

Mr. Borisov citied beatings of protesters Tuesday by the police as one reason for his decision.

"Every drop of blood for us is a stain," he said. "I can’t look at a Parliament surrounded by barricades, that’s not our goal, neither our approach, if we have to protect ourselves from the people."

Mr. Borisov said he would not participate in an interim government.

After the announcement, members of his party left Parliament and the speaker called a recess because of the lack of a quorum.

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What's Next for Mindy McCready's Two Young Boys?

By Steve Helling

02/19/2013 at 07:00 PM EST

Mindy McCready's apparent suicide on Sunday has left her two young sons in custodial limbo.

The boys – Zander, 6, and Zayne, 10 months – had been in state custody since Feb. 7, when McCready called police to ask for help in making her father and stepmother leave her home. When police arrived, McCready appeared to be intoxicated, according to a Department of Human Services report.

In a subsequent petition, the singer's father, Tim McCready, asked the court to order her to undergo mental health and substance abuse evaluation and treatment, alleging that his daughter, who had recently lost her boyfriend, "hasn't had a bath in a week ... screams about everything ... [is] very verbally abusive to Zander."

After a judge granted the petition, the children were quickly removed and placed into foster care. Although McCready was released from treatment, the boys remained in state custody.

At the time, Zander's father, Billy McKnight, requested custody of his son. "My son needs me," he told PEOPLE on Feb. 8. "I'm married, working and successful. I'm on the right track and proud of it. I've been sober for years. I just want my son."

But McCready's mother and stepfather, Gayle and Michael Inge, also want custody of the children – and authorities seem to agree.

In a proposed order sent to Circuit Judge Lee Harrod, the Department of Human Services proposed that the Inges might be a better fit for the children, claiming that they have "a substantial relationship." The Inges had custody of Zander for much the past few years, during McCready’s rehab and jail stints.

With McCready's death, the judge will have to determine what is in the children's best interest. A custody hearing has been scheduled for April 5.

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Drug overdose deaths up for 11th consecutive year

CHICAGO (AP) — Drug overdose deaths rose for the 11th straight year, federal data show, and most of them were accidents involving addictive painkillers despite growing attention to risks from these medicines.

"The big picture is that this is a big problem that has gotten much worse quickly," said Dr. Thomas Frieden, head of the Centers for Disease Control and Prevention, which gathered and analyzed the data.

In 2010, the CDC reported, there were 38,329 drug overdose deaths nationwide. Medicines, mostly prescription drugs, were involved in nearly 60 percent of overdose deaths that year, overshadowing deaths from illicit narcotics.

The report appears in Tuesday's Journal of the American Medical Association.

It details which drugs were at play in most of the fatalities. As in previous recent years, opioid drugs — which include OxyContin and Vicodin — were the biggest problem, contributing to 3 out of 4 medication overdose deaths.

Frieden said many doctors and patients don't realize how addictive these drugs can be, and that they're too often prescribed for pain that can be managed with less risky drugs.

They're useful for cancer, "but if you've got terrible back pain or terrible migraines," using these addictive drugs can be dangerous, he said.

Medication-related deaths accounted for 22,134 of the drug overdose deaths in 2010.

Anti-anxiety drugs including Valium were among common causes of medication-related deaths, involved in almost 30 percent of them. Among the medication-related deaths, 17 percent were suicides.

The report's data came from death certificates, which aren't always clear on whether a death was a suicide or a tragic attempt at getting high. But it does seem like most serious painkiller overdoses were accidental, said Dr. Rich Zane, chair of emergency medicine at the University of Colorado School of Medicine.

The study's findings are no surprise, he added. "The results are consistent with what we experience" in ERs, he said, adding that the statistics no doubt have gotten worse since 2010.

Some experts believe these deaths will level off. "Right now, there's a general belief that because these are pharmaceutical drugs, they're safer than street drugs like heroin," said Don Des Jarlais, director of the chemical dependency institute at New York City's Beth Israel Medical Center.

"But at some point, people using these drugs are going to become more aware of the dangers," he said.

Frieden said the data show a need for more prescription drug monitoring programs at the state level, and more laws shutting down "pill mills" — doctor offices and pharmacies that over-prescribe addictive medicines.

Last month, a federal panel of drug safety specialists recommended that Vicodin and dozens of other medicines be subjected to the same restrictions as other narcotic drugs like oxycodone and morphine. Meanwhile, more and more hospitals have been establishing tougher restrictions on painkiller prescriptions and refills.

One example: The University of Colorado Hospital in Aurora is considering a rule that would ban emergency doctors from prescribing more medicine for patients who say they lost their pain meds, Zane said.

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Stobbe reported from Atlanta.

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Online:

JAMA: http://www.jama.ama-assn.org

CDC: http://www.cdc.gov

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

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Asian shares hit 18-month high on growth hopes

LONDON (Reuters) - European share markets were little changed on Wednesday, awaiting further signs of improving global economic recovery after a big rise in the previous session fuelled by encouraging German data.

The FTSE Eurofirst <.fteu3> index of top European shares was down 0.1 percent in early trading, having gained 1.1 percent on Tuesday, its best day for three weeks <.fteu3>.

London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were all close to flat. <.eu/>

"I see no reason why we can't consolidate the gains and possibly move higher," said Michael Hewson, an analyst at CMC Markets.

Global share markets surged on Tuesday after forecast-beating German sentiment data pointed to an accelerating recovery in Europe's largest economy.

The data comes ahead of more important euro zone flash Purchasing Managers Indexes on Thursday and a German business sentiment survey on Friday that could show whether the region's recovery is taking hold.

The rising hopes of recovery have been supported on Wall Street by a surge in merger activity that has sent U.S. benchmark shares indexes close to record highs. <.n>.

In Asia, share markets outside Japan are at 18-month highs <.miapj0000pus>, as the relatively stronger growth outlook compared with Europe and the United States has drawn in foreign investors.

The rise in equities has weighed on assets perceived as safe havens, with German Bund futures down 25 ticks in early trade to 142.57, though news that Spain may be about to issue a U.S. dollar bond supported sentiment.

In the currency markets the euro rose 0.2 percent to $1.3413 but sterling fell to its lowest in nearly 16 months against a trade-weighted basket of currencies.

Currency traders have their eyes on central banks and the minutes of policy meetings at the Bank of England and the U.S. Federal Reserve that are due to be published later in the day.

The Bank of England minutes at 0930 GMT may reiterate a tolerance for higher inflation or greater disagreement among policymakers over the value of restarting the bank's asset purchase program.

Commodities markets mostly followed equities higher, with spot gold inching up 0.2 percent to $1,605.90 an ounce but stuck near a six-month low.

London copper edged up 0.2 percent to $8,067.75 a metric ton, off Tuesday's three-week lows but Brent crude was little changed at $117.47 a barrel.

(Additional reporting by Masayuki Kitano in Singapore and Thuy Ong in Sydney; Editing by Eric Meijer)

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IHT Rendezvous: Women Killed as 'Witches,' in Papua New Guinea, in 2013

BEIJING — “They’re going to cook the sanguma”, or witchcraft, “mama!”

This terrifying cry by Papua New Guinean children opens “It’s 2013, and They’re Burning ‘Witches’,” a long and eloquent report in The Global Mail, an Australia-based online news site.

It was published last week before news shot around the world on Tuesday that the police in Papua New Guinea, in another case, had charged two people with torturing and killing a 20-year-old mother, Kepari Leniata, whom they accused of being a witch. Ms. Leniata was “stripped, tortured with a hot iron rod, doused in gasoline and set alight on a pile of car tires and trash” earlier this month in front of a crowd of hundreds of people, including young children, The Associated Press reported.

Why?

“Leniata had been accused of sorcery by relatives of a 6-year-old boy who had died in a hospital. Ware and Watea are believed to be the boy’s mother and uncle, police said in a statement,” The A.P. reported.

The year 2013 or not, such violence against women is not that uncommon in Papua New Guinea, where “witches” (in reality just women, often older ones) may be blamed when things go wrong, a reflection of the powerful belief in sorcery in the Pacific nation just north of Australia. A key reason for identifying a woman as a witch and attacking her is when a man, or child, dies unexpectedly.

But there may be other reasons. As the Australian international television station Australia Network reported, in a resource-rich country undergoing a boom, accusing her of being a witch is an easy way to take her land.

Dame Carol Kidu, a Papua New Guinean politician, told the station: “There are other things involved nowadays, like greed, acquisition of people’s properties and land, and all sorts of things might be all tied up in all of this, using – killing the sorcerers as a reason to acquire land. So it needs to be investigated and we need to work out how we can deal with it. It is a very complex issue.”

The United Nations also found that accusations of sorcery can be used to kill women for a range of motives: “The U.N. Human Rights agency says they’ve seen an increase in these types of killings as well as torture and rape. They say the accusations are often used to deprive women of land and property,” U.N. radio reported recently.

What lies behind the ferocity? Traditional beliefs, alcohol and drug use among men, and uneven development in a country that is in the middle of a mining boom where, as The Global Mail wrote, “the wealth bypasses the vast majority.”

It writes: “enduring tradition widely resists the notion that natural causes, disease, accident or recklessness might be responsible for a death. Rather, bad magic is the certain culprit.”

The dead person if often a man; the culprit is a woman. Or, a “witch.”

“When people die, especially men, people start asking ‘Who’s behind it?’ not ‘What’s behind it?’” said Philip Gibbs, a longtime resident, anthropologist, sorcery specialist and Catholic priest who was quoted by The Global Mail.

But in its report, the news site was careful to point out that while many Papua New Guineans believe in sorcery to some degree, that doesn’t mean they support the lynchings.

“In the words of the editor of the national daily Post Courier, Alexander Rheeney, city and country folk alike overwhelmingly ‘recoil in fear and disgust’ at lynch mobs pursuing payback, and at the kind of extremist cruelty that Sister Gaudentia was about to witness,” it wrote, referring to the “cooking” that the children were shouting about.

That’s Sister Gaudentia, a Swiss nun who tries to save “Angela,” a woman accused of witchcraft in the Global Mail article. The article includes powerful photos of accused “witches” (warning – they are graphic, showing machete injuries or healed, hacked-off limbs.)

Hearing the children shout that a witch was about to be cooked, Sister Gaudentia rushed after them. “Two days earlier, she had tried to rescue Angela (not her real name), an accused witch, when she was first seized by a gang of merciless inquisitors looking for someone to blame for the recent deaths of two young men.”

“Angela” was luckier than Ms. Leniata.

She had no male relatives to protect her (a common profile for accused “witches”) and was horribly tortured, but lived, the article says. A “sorcery survivor,” today she is in hiding with her small son.

“Those victims who lived to tell the tale owe their lives either to individual police members or to a strong church leader who intervened for them,” Mr. Gibbs, the anthropologist and priest, told the Global Mail.

“In effect it means that, if sufficiently motivated to act, the power of the police and civil authorities, or the power of the church, can be enough to defend a person who is otherwise powerless,” he said.

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Mindy McCready: Under Police Scrutiny at Time of Suicide?

By Steve Helling and Mike Fleeman

02/18/2013 at 06:00 PM EST

Mindy McCready and David Wilson

Courtesy Mindy McCready

When Mindy McCready talked to police in recent weeks, her account of how her boyfriend came to be found with a fatal gunshot wound to the head concerned police, a law enforcement source tells PEOPLE.

"At first, she said she hadn't heard the gunshot because the TV was too loud. Then she said she had heard the gunshot," the source says. "So obviously there were a lot of questions, and the Sheriff was asking for clarification."

But before investigators could re-interview her, the long-troubled country singer also would die under eerily similar circumstances, her body discovered at the same Heber Springs, Ark., house just feet away from where David Wilson died.

McCready's death was blamed on what "appears to be a single self-inflicted gunshot wound," the Cleburne County Sheriff's Office said in a statement.

This differed from how the sheriff characterized Wilson's case. His cause and manner of death still have not been established by the coroner. It was McCready's publicist, and not a law enforcement official, who announced that Wilson had died of a self-inflicted gunshot wound.

After Wilson's death, McCready, 37, spoke to investigators three times, but they didn't feel as if they were through with her.

"At no point did [police] tell her she was a suspect, and she wasn't officially one," says the source. "But she knew that some of her answers didn't stand up to questioning. She was very cooperative, but she just wasn't making a lot of sense."

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Hip implants a bit more likely to fail in women

CHICAGO (AP) — Hip replacements are slightly more likely to fail in women than in men, according to one of the largest studies of its kind in U.S. patients. The risk of the implants failing is low, but women were 29 percent more likely than men to need a repeat surgery within the first three years.

The message for women considering hip replacement surgery remains unclear. It's not known which models of hip implants perform best in women, even though women make up the majority of the more than 400,000 Americans who have full or partial hip replacements each year to ease the pain and loss of mobility caused by arthritis or injuries.

"This is the first step in what has to be a much longer-term research strategy to figure out why women have worse experiences," said Diana Zuckerman, president of the nonprofit National Research Center for Women & Families. "Research in this area could save billions of dollars" and prevent patients from experiencing the pain and inconvenience of surgeries to fix hip implants that go wrong.

Researchers looked at more than 35,000 surgeries at 46 hospitals in the Kaiser Permanente health system. The research, published Monday in JAMA Internal Medicine, was funded by the U.S. Food and Drug Administration.

After an average of three years, 2.3 percent of the women and 1.9 percent of the men had undergone revision surgery to fix a problem with the original hip replacement. Problems included instability, infection, broken bones and loosening.

"There is an increased risk of failure in women compared to men," said lead author Maria Inacio, an epidemiologist at Southern California Permanente Medical Group in San Diego. "This is still a very small number of failures."

Women tend to have smaller joints and bones than men, and so they tend to need smaller artificial hips. Devices with smaller femoral heads — the ball-shaped part of the ball-and-socket joint in an artificial hip — are more likely to dislocate and require a surgical repair.

That explained some, but not all, of the difference between women and men in the study. It's not clear what else may have contributed to the gap. Co-author Dr. Monti Khatod, an orthopedic surgeon in Los Angeles, speculated that one factor may be a greater loss of bone density in women.

The failure of metal-on-metal hips was almost twice as high for women than in men. The once-popular models were promoted by manufacturers as being more durable than standard plastic or ceramic joints, but several high-profile recalls have led to a decrease in their use in recent years.

"Don't be fooled by hype about a new hip product," said Zuckerman, who wrote an accompanying commentary in the medical journal. "I would not choose the latest, greatest hip implant if I were a woman patient. ... At least if it's been for sale for a few years, there's more evidence for how well it's working."

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Online:

Journal: http://www.jamainternalmed.com

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Philippine, Aussie shares at new peaks; yen firms

TOKYO (Reuters) - Philippine and Australian shares scaled new heights on Tuesday but other Asian shares were mixed, with worries about the risk of an inconclusive outcome in Italy's election and about U.S. budget talks limiting the upside after strong rallies in early February.

European markets looked set to inch higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up 0.1 percent. <.l><.eu/>

U.S. stock futures rose 0.1 percent to suggest Wall Street will reopen with a firmer tone after the President's Day holiday on Monday. <.n/>

"Markets have become top-heavy after rallying through early February on signs of economic recovery in the United States and Europe, and investors now await fresh factors to push prices higher from here," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo.

"The broad sentiment is underpinned by a lack of tail risks, but investors are turning to some potentially worrying elements such as Italian elections and U.S. budget talks," he said.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> edged up 0.1 percent. Earlier in the day it had touched a 18-1/2-month high. The index has gained 3.5 percent this year.

Shares in the Philippines <.psi>, where a strong economic growth has led to rising interest in the country as an investment destination, hit a record. The Thai index <.seti> was also up 0.3 percent after recent data showed robust fourth-quarter economic numbers.

Australian shares ended 0.4 percent up at a 4-1/2 year high, continuing a recent rally on better-than-expected corporate earnings.

But Hong Kong shares <.hsi> fell 0.2 percent and Shanghai shares <.ssec> shed 1.1 percent, with real estate and financials leading the declines on concerns that rising property prices would lead to fresh restrictions on the sector.

Tokyo's Nikkei stock average <.n225> ended down 0.3 percent, after surging on Monday to approach its highest level since September 2008 of 11,498.42 tapped on February 6. <.t/>

The concerns about Italy's election this weekend and the talks in Washington over a package of budget cuts set to kick in March 1, also helped limit gains in commodities and also weighed on the euro.

The dollar's strength against a basket of currencies <.dxy> capped gains in gold, with the spot price up 0.2 percent at $1,613.01 an ounce.

London copper steadied at $8,122.50 a metric ton as Monday's three-week low drew bargain hunting given prospects for a slowly improving global economic recovery. Unease over China's limp return to the market from a week-long break held back upside momentum, however.

"I think we've already had the nicest rally that we're going to get this year," Singapore-based Credit Suisse analyst Ivan Szpakowski said. "You can still get some more mild upturns, but frankly as you move to the second half of the year industrial metals are going to trend down.

U.S. crude fell 0.5 percent to $95.43 a barrel while Brent steadied around $117.37.

The euro was steady around $1.3348.

YEN JITTERY

Bank of Japan minutes revealed board members had discussed buying longer-dated government debt at their January meeting, sending the yield on five-year Japanese government bonds to record low.

The yen firmed, however, after Finance Minister Taro Aso told reporters Japan has no plans to buy foreign currency bonds as part of monetary easing and as attention remained focused on who will be the next Bank of Japan governor.

The dollar fell 0.3 percent to 93.61 yen, but remained near its highest since May 2010 of 94.465 hit on February 11. The euro eased 0.4 percent to 125.00 yen, below its peak since April 2010 of 127.71 yen touched on February 6

The yen, which has dropped 20 percent against the dollar since mid-November, fell further at the start of the week after financial leaders from the G20 promised not to devalue their currencies to boost exports and avoided singling out Japan for any direct criticism.

The choice of the next BOJ governor and two deputies has drawn attention as a gauge of how strongly Prime Minister Shinzo Abe is committed to reflating the economy. The G20's message was that as long as Japan pursues aggressive monetary easing to achieve that goal, a weaker yen as a result of such domestic monetary policy will be tolerated, analysts say.

"But that means that some other economy's monetary conditions have been tightened," said Barclays Capital in a note.

"Japan hasn't even changed its policy stance thus far, and the effect of expectations of a looser setting have led to limited moves in domestic interest rates, but the sell-off of the JPY has been marked and has clearly caused unease in other economies," the note said.

(Additional reporting by Melanie Burton in Singapore; Editing by Edwina Gibbs)

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IHT Rendezvous: Romanian Film Takes Top Prize at the Berlinale

10:46 a.m. | Updated

BERLIN — “Child’s Pose,” a film by the Romanian director Calin Peter Netzer, took the top prize, the Golden Bear, at the 63rd Berlin International Film Festival on Saturday.

The story of a privileged woman whose maternal instincts kick into overdrive when her son kills a teenage boy in a car accident, “Child’s Pose” shares several hallmarks of the recently revitalized Romanian cinema, not least a focus on institutional malaise and corruption. It was written by Mr. Netzer and Razvan Radulescu, who also collaborated on the screenplays of many other acclaimed Romanian films, including “The Death of Mr. Lazarescu” and “4 Months, 3 Weeks, 2 Days.”

The runner-up prize, the Silver Bear, went to another Eastern European social drama, “An Episode in the Life of an Iron Picker.” Directed by the Bosnian filmmaker Danis Tanovic (best known for the Oscar-winning “No Man’s Land”) and based on actual events, the film recounts an impoverished Roma family’s struggles with an unjust health care system, and enlists the real-life couple to re-enact their plight. The male lead, Nazif Mujic, won the best actor prize.

Paulina García, the star of Sebastián Lelio’s “Gloria,” about the romantic reawakening of a Chilean divorcee, won the tightly contested best actress category. David Gordon Green won best director for “Prince Avalanche,” a buddy comedy starring Paul Rudd and Emile Hirsch. And best screenplay went to Jafar Panahi and Kamboziya Partovci for one of the most talked-about films in the competition, “Closed Curtain,” a confessional, self-reflexive drama about an artist and his demons. It is the second movie, after “This Is Not a Film” (2010), that Mr. Panahi has made in defiance of a ban on filmmaking by the Iranian authorities.

The Alfred Bauer Prize for innovation, named for the founder of the Berlinale, went to perhaps the most eccentric film in the competition, the French Canadian director Denis Côté’s “Vic and Flo Saw a Bear,” a darkly comic and melodramatic lesbian love story. The Australian director Kim Mordaunt won the best first feature award for “The Rocket.” And the Teddy Award for best gay-themed film went to the Polish director Malgoska Szumowska’s “In the Name of …,” about a Catholic priest struggling with his homosexuality.

Led by the Hong Kong director Wong Kar-wai, whose new film, “The Grandmaster,” opened the festival, this year’s Berlinale jury included the actor Tim Robbins; the filmmakers Susanne Bier, Andreas Dresen and Athina Rachel Tsangari; the cinematographer Ellen Kuras; and the artist Shirin Neshat.

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