Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.

The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.

Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.

An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.

"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

"What we're looking for is demand. Demand from small business owners, from consumers."

EARNINGS AND ECONOMIC EXPECTATIONS

Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.

Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.

Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.

The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.

Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.

HOUSING, INDUSTRIAL DATA ON TAP

Next week will also feature the release of a wide range of economic data.

Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.

Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.

Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.

"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."

POLITICAL ANXIETY

Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.

The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.

Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.

The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.

"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.

The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.

"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."

(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)

Read More..

Alabama's Lacy, Milliner, Fluker enter NFL draft

TUSCALOOSA, Ala. (AP) — Alabama tailback Eddie Lacy, cornerback Dee Milliner and right tackle D.J. Fluker are entering the NFL draft after helping lead the Crimson Tide to a second straight national title.

Lacy and Milliner announced their plans to skip their senior seasons Friday at a news conference. Fluker couldn't be there for the announcement because he was traveling.

It's another exodus of talented underclassmen for a team that has won three of the past four national championships. Most of the four first-round picks in each of the past two drafts that left Alabama were underclassmen.

"I appreciate what they've done for the University of Alabama but we also acknowledge the fact that from a business standpoint, these guys are making good decisions about their future and what they can do," coach Nick Saban said.

Unlike recent groups of departing juniors from Alabama, only Milliner is pegged as a sure first-round pick.

He was a Jim Thorpe Award finalist and unanimous All-American after recording two interceptions and 22 pass deflections. He and guard Chance Warmack, who was a senior, are projected as the Tide's top current prospects.

"I think while I was here, I met all the goals and team affirmations that I set for myself as a freshman by winning a championship, becoming an All-American, just being part of a team that always loved to win," Milliner said. "I think I fulfilled all my goals and am ready and prepared to go to the next level."

Lacy was MVP of the national championship game against Notre Dame after rushing for 140 yards and scoring two touchdowns. He said he wasn't 100 percent healthy all season until the title game Monday night, but Lacy still ran for 1,322 yards and 17 touchdowns while averaging 6.5 yards per carry.

"We don't have a lot of years to play this position, so you have to go while you can," Lacy said. "I would love to come back. This is a great place. We have the best fans, but I really didn't want to risk coming back and not having such a good year or maybe even risking injury. I've had my share of injuries this year. I feel like you've got to get out while you can."

Lacy thinks he "made a pretty solid statement" in the title game, when he made a spin move into the end zone on a TD catch and on another run pushed 248-pound linebacker Danny Spond away with one hand.

Lacy was recruited in the same class as Trent Richardson, last year's No. 3 pick by Cleveland, but redshirted and then spent two seasons as a backup. He's not widely projected to follow Richardson and 2009 Heisman Trophy winner Mark Ingram into the first round. Lacy said he was projected as a second- or third-round pick in feedback from the NFL, but was impressive in the finale. Ordinarily, Saban only recommends projected first-round picks leave early.

"I'm fully supportive of what Eddie's doing," Saban said. "It's a little bit of a different situation than we've had in the past, but it's a little bit unique as well. Every one of these situations is unique to that particular individual and what his situation is. "

The 6-foot-6, 335-pound Fluker started 35 games for the Tide and was a second-team Associated Press All-American.

He was one of the Tide's top-rated signees in 2009 but came in overweight at about 395 pounds and was redshirted.

"I certainly feel like this year has been his best year as a player, and I feel that he's made a good decision about what he wants to do," said Saban, adding that Fluker has improved as much as any player on the team.

The mammoth Fluker, who wears a size-22 shoe, said in a statement that leaving early "is never an easy decision when you are playing at a place like Alabama."

"''These four years in Tuscaloosa have been the best four years of my life and I appreciate everyone who helped me along the way," he said.

Quarterback AJ McCarron, All-America linebacker C.J. Moseley and guard Anthony Steen have already said they're returning for their senior seasons. Saban didn't rule out other juniors possibly declaring for the draft before Tuesday's deadline.

The Tide does have promising players who have logged plenty of playing time behind Lacy and Milliner, especially. Two freshmen — tailback T.J. Yeldon (1,108 yards, 12 touchdowns) — and cornerback Geno Smith saw significant action.

"You've got people that are going to go to the NFL each year and you've got people behind them that are going to do the same things when their time comes," Milliner said.

Read More..

Federal report: Warming is changing US daily life

WASHINGTON (AP) — A massive new federal scientific report says global warming is already changing America from sea to rising sea and how Americans live.

The government issued Friday a 1,146-page draft report that details in dozens of ways how climate change is already disrupting the health, homes and other facets of daily American life. It warns that those disruptions will increase in the future.

The blunt report takes a global environmental issue and explains what it means for different U.S. regions, for various sectors of the economy and for future generations.

The National Climate Assessment doesn’t say what should be done about global warming. White House science adviser John Holdren writes that it will help leaders, regulators, city planners and even farmers figure out what to do to cope with coming changes.

Science News Headlines – Yahoo! News

Title Post: Federal report: Warming is changing US daily life
Url Post: http://www.news.fluser.com/federal-report-warming-is-changing-us-daily-life/
Link To Post : Federal report: Warming is changing US daily life
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Ald. Sandi Jackson resigns from Chicago City Council

Chicago Tribune political editor Eric Krol phones in to discuss the resignation of Alderman Sandi Jackson and the future of the Chicago City Council. (Posted: January 11, 2013).

Ald. Sandi Jackson has resigned from the Chicago City Council.

The 7th Ward alderman submitted her resignation letter to Mayor Rahm Emanuel today. It is effective Tuesday.

"After much consideration and while dealing with very painful family health matters, I have met with my family and determined that the constituents of the 7th Ward, as well as you Mr. Mayor, and my colleagues in the City Council deserve a partner who can commit all of their energies to the business of the people. Therefore, it is with a heavy heart that I tender my resignation as Alderman of 7th Ward, effective January 15, 2013," reads the letter released by the mayor's office.

Ald. Jackson's resignation comes after her husband, Jesse Jackson Jr., resigned from Congress before Thanksgiving amid federal ethics probes and a diagnois of bipolar depression.

Talk swirled around City Hall that Ald. Jackson also would step down, but she remained on the council until Friday afternoon.

Emanuel put out a statement about the resignation.

"As Sandi takes this time to focus on her family, we give her our deepest thanks and support for her service to our City and the residents of her ward.  Her leadership has been greatly appreciated in the Chicago City Council," the statement read.

"The process to identify a replacement for Alderman Jackson to serve and represent the residents of Chicago’s 7th ward will be announced early next week."

A month ago, amid rumors that she was considering a run to replace her husband in Congress, Jackson denied she was interested in the job and said she wouldn’t resign from the City Council unless "something catastrophic happens.”
 
At the same time, she also said she was undecided about whether to move back to Chicago from Washington, D.C., where the couple lives with their children.

"I will finish my term. I intend to finish my term," Ald. Jackson said then. "Unless something catastrophic happens -- I could step outside and get hit by a bus today."

Her husband, in his resignation letter to House Speaker John Boehner in November, appeared to try to shield his wife in the federal ethics investigation. "I am doing my best to address the situation responsibly, cooperate with the investigators, and accept responsibility for my mistakes, for they are my mistakes and mine alone," the former congressman wrote. "None of us is immune from our share of shortcomings or human frailties, and I pray that I will be remembered for what I did right."
 
The former congressman paid his wife hundreds of thousands of dollars in campaign funds to act as his political consultant.

Ald. Jackson could not be reached for comment.

Rev. Jesse Jackson Sr., the former congressman’s father and the former council member’s father-in-law, was reached Friday afternoon by telephone, but had no comment on her resignation.

“I think that she has made a very personal decision that she feels is in the best interests of her family and her constituents,” said Ald. Patrick O’Connor, 40th, the mayor’s floor leader.

Emanuel will have 60 days to name a replacement, according to the Chicago Board of Election Commissioners.

"He is looking for someone who has a history of community involvement and engagement," Emanuel spokeswoman Sarah Hamilton said.

Former Mayor Richard M. Daley got to substantially shape the City Council during his two-decade tenure, appointing scores of aldermen who tended to be loyal to him in return. All told, Daley got to make 35 appointments.

Jackson's resignation marks Emanuel's first chance to appoint an alderman since taking office in May 2011.

Sandi Jackson was elected to the City Council in 2007, defeating then-Ald. Darcel Beavers, who had been appointed to succeed her father, William Beavers, who moved to the Cook County Board. Jackson defeated Darcel Beavers in a 2011 rematch.

Read More..

Obama, Karzai accelerate end of U.S. combat role in Afghanistan

WASHINGTON (Reuters) - President Barack Obama and Afghan President Hamid Karzai agreed on Friday to speed up the handover of combat operations in Afghanistan to Afghan forces, raising the prospect of an accelerated U.S. withdrawal from the country and underscoring Obama's determination to wind down a long, unpopular war.

Signaling a narrowing of differences, Karzai appeared to give ground in talks at the White House on U.S. demands for immunity from prosecution for any U.S. troops who stay in Afghanistan beyond 2014, a concession that could allow Obama to keep at least a small residual force there.

Both leaders also threw their support behind tentative Afghan reconciliation efforts with Taliban insurgents, endorsing the establishment of a Taliban political office in Qatar in hopes of bringing insurgents to inter-Afghan talks.

Outwardly, at least, the meeting appeared to be something of a success for both men, who need to show their vastly different publics they are making progress in their goals for Afghanistan. There were no signs of the friction that has frequently marked Obama's relations with Karzai.

Karzai's visit came amid stepped-up deliberations in Washington over the size and scope of the U.S. military role in Afghanistan once the NATO-led combat mission concludes at the end of next year.

"By the end of next year, 2014, the transition will be complete," Obama said at a news conference with Karzai standing at his side. "Afghans will have full responsibility for their security, and this war will come to a responsible end."

The Obama administration has been considering a residual force of between 3,000 and 9,000 troops - far fewer than some U.S. commanders propose - to conduct counterterrorism operations and to train and assist Afghan forces.

But a top Obama aide said this week that the administration does not rule out a complete withdrawal after 2014, a move that some experts say would be disastrous for the weak Afghan central government and its fledgling security apparatus.

Obama on Friday left open the possibility of that so-called "zero option," when he several times used the word "if" to suggest that a post-2014 U.S. presence was far from guaranteed.

Insisting that Afghan forces were "stepping up" faster than expected, Obama said Afghan troops would take over the lead in combat missions across the country this spring, rather than waiting until the summer, as was originally planned. NATO troops will then assume a "support role," he said.

"It will be a historic moment and another step toward full Afghan sovereignty," Obama said.

Obama said final decisions on this year's troop cuts and the post-2014 U.S. military role were still months away, but his comments suggested he favors a stepped-up withdrawal timetable.

There are some 66,000 U.S. troops currently in Afghanistan. Washington's NATO allies have been steadily reducing their troop numbers as well, despite doubts about the ability of Afghan forces to shoulder full responsibility for security.

"WAR OF NECESSITY"

Karzai voiced satisfaction over Obama's agreement to turn over control of detention centers to Afghan authorities, a source of dispute between their countries, although the White House released no details of the accord on that subject.

Obama once called Afghanistan a "war of necessity," but he is heading into a second term looking for an orderly way out of the conflict, which was sparked by the September 11, 2001 attacks by al Qaeda on the United States.

He faces the challenge of pressing ahead with his re-election pledge to continue winding down the war while preparing the Afghan government to prevent a slide into chaos and a Taliban resurgence once most NATO forces are gone.

Former Senator Chuck Hagel, Obama's nominee to become defense secretary, is likely to favor a sizable troop reduction.

Karzai, meanwhile, is eager to show he is working to ensure Afghans regain full control of their territory after an foreign military presence of more than 11 years.

Asked whether the cost of the war in lives and money was worth it, Obama said: "We achieved our central goal ... or have come very close to achieving our central goal, which is to de-capacitate al Qaeda, to dismantle them, to make sure that they can't attack us again."

He added: "Have we achieved everything that some might have imagined us achieving in the best of scenarios? Probably not. This is a human enterprise, and you fall short of the ideal."

Obama made clear that unless the Afghan government agrees to legal immunity for U.S. troops, he would withdraw them all after 2014 - as happened in Iraq at the end of 2011.

Karzai, who criticized NATO over civilian deaths, said that with Obama's agreement to transfer detention centers and the planned withdrawal of U.S. forces from Afghan villages, "I can go to the Afghan people and argue for immunity" in a bilateral security pact being negotiated.

Many of Obama's Republican opponents have criticized him for setting a withdrawal timetable and accuse him of undercutting the U.S. mission by reducing troop numbers too quickly.

Karzai and his U.S. partners have not always seen eye to eye, even though the American military has been crucial to preventing insurgent attempts to oust him.

In October, Karzai accused Washington of playing a double game by fighting the war in Afghan villages instead of going after insurgents who cross the border from neighboring Pakistan.

In Friday's news conference, Karzai did not back down from his previous comments that foreigners were responsible for some of the official corruption critics say is rampant in Afghanistan. But he acknowledged: "There is corruption in the Afghan government that we are fighting against."

Adding to tensions has been a rash of deadly "insider" attacks by Afghan soldiers and police against NATO-led troops training or working with them. U.S. forces have also been involved in a series of incidents that enraged Afghans, including burning Korans, which touched off days of rioting.

(Additional reporting by Roberta Rampton, Mark Felsenthal, Jeff Mason, Phil Stewart, Tabassum Zakaria, David Alexander; Editing by Warren Strobel and David Brunnstrom)

Read More..

Wall Street climbs as China data puts S&P back at five-year high

NEW YORK (Reuters) - Stocks rose on Thursday and the S&P 500 ended at a fresh five-year high as stronger-than-expected exports from China spurred optimism about global growth prospects.

Buying accelerated late in the day after the S&P 500 broke through technical resistance at 1,466.47, which was the market's closing level last Friday and the highest level since December 2007.

"Historically, January is a positive month for the market and you're seeing that play out," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.

Financial and energy stocks were the day's top gainers. The financial sector index <.gspf> rose 1.4 percent and the energy sector <.gspe> was up 1 percent.

Analysts cited economic data out of China as the day's catalyst, which showed the country's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown.

"It is being interpreted positively that they've stopped the downturn (in growth)," said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia.

"If they continue to produce good growth, that's going to be supportive of our global manufacturers."

Wall Street's fear gauge, the CBOE Volatility Index <.vix> suggested markets were relatively calm. The VIX was down 2.3 percent at 13.49.

At Thursday's close, the S&P sits about 6 percent below its all-time closing high of 1,565.15, hit in October 2007.

The Dow Jones industrial average <.dji> gained 80.71 points, or 0.60 percent, to 13,471.22. The Standard & Poor's 500 Index <.spx> rose 11.10 points, or 0.76 percent, to 1,472.12. The Nasdaq Composite Index <.ixic> added 15.95 points, or 0.51 percent, to 3,121.76.

Thursday's session had earlier included a dip that traders said was triggered by a trade in the options market that prompted a large amount of S&P futures to hit the market at the same time. That sent the S&P 500 index down rapidly but those losses were reversed through the afternoon.

Financials benefited from events this week that added clarity to mortgage rules and banks' potential exposure to the housing market.

The U.S. government's consumer finance watchdog announced mortgage rules on Thursday that will force banks to use new criteria to determine whether a borrower can repay a home loan.

Earlier this week, several big mortgage lenders reached a deal with regulators to end a review of foreclosures mandated by the government.

"It's a resolution. It's not hanging over their heads," said Brunner.

Bank of America gained 3.1 percent to $11.78, while Morgan Stanley was up 3.7 percent at $20.34, one day after sources said the bank plans to cut jobs.

Shares of upscale jeweler Tiffany dropped 4.5 percent to $60.40 after it said sales were flat during the holidays.

Herbalife Ltd stepped up its defense against activist investor Bill Ackman, stressing it was a legitimate company with a mission to improve nutrition and help public health. The stock ended down 1.8 percent at $39.24 after a volatile day.

After the closing bell, American Express said it would cut about 5,400 jobs, and take about $600 million in after-tax charges in the fourth quarter. The stock added 0.7 percent to $61.20 in after-hours trade.

Volume was above the 2012 average of 6.42 billion shares traded a day, with roughly 6.77 billion shares changing hands on the New York Stock Exchange, the Nasdaq and the NYSE MKT.

Advancers outnumbered decliners on the NYSE by 1,916 to 1,039, while advancers also outpaced decliners on the Nasdaq by 1,439 to 1,036.

(Editing by Nick Zieminski)

Read More..

Researchers: NFL's Seau had brain disease

When he ended his life last year by shooting himself in the chest, Junior Seau had a degenerative brain disease often linked with repeated blows to the head.

Researchers from the National Institutes of Health said Thursday the former NFL star's abnormalities are consistent with chronic traumatic encephalopathy, or CTE.

The hard-hitting linebacker played for 20 NFL seasons with San Diego, Miami and New England before retiring in 2009. He died at age 43 of a self-inflicted gunshot in May, and his family requested the analysis of his brain.

"We saw changes in his behavior and things that didn't add up with him," his ex-wife, Gina, told The Associated Press. "But (CTE) was not something we considered or even were aware of. But pretty immediately (after the suicide) doctors were trying to get their hands on Junior's brain to examine it."

The NIH, based in Bethesda, Md., studied three unidentified brains, one of which was Seau's, and said the findings on Seau were similar to autopsies of people "with exposure to repetitive head injuries."

"It was important to us to get to the bottom of this, the truth," Gina Seau added, "and now that it has been conclusively determined from every expert that he had obviously had CTE, we just hope it is taken more seriously. You can't deny it exists, and it is hard to deny there is a link between head trauma and CTE. There's such strong evidence correlating head trauma and collisions and CTE."

In the final years of his life, Seau had wild behavioral swings, according to Gina and to 23-year-old son, Tyler, along with signs of irrationality, forgetfulness, insomnia and depression.

"He emotionally detached himself and would kind of 'go away' for a little bit," Tyler Seau said. "And then the depression and things like that. It started to progressively get worse."

He hid it well in public, they said, but not when he was with family or close friends.

Seau joins a list of several dozen football players who were found to have CTE. Boston University's center for study of the disease reported last month that 34 former pro players and nine who played only college football suffered from CTE.

The NFL faces lawsuits by thousands of former players who say the league withheld information on the harmful effects of concussions. According to an AP review of 175 lawsuits, 3,818 players have sued. At least 26 Hall of Famer members are among the players who have done so.

The National Football League, in an email to the AP, said: "We appreciate the Seau family's cooperation with the National Institutes of Health. The finding underscores the recognized need for additional research to accelerate a fuller understanding of CTE.

"The NFL, both directly and in partnership with the NIH, Centers for Disease Control and other leading organizations, is committed to supporting a wide range of independent medical and scientific research that will both address CTE and promote the long-term health and safety of athletes at all levels."

NFL teams have given a $30 million research grant to the NIH.

The players' union called the NIH report on Seau "tragic."

"The only way we can improve the safety of players, restore the confidence of our fans and secure the future of our game is to insist on the same quality of medical care, informed consent and ethical standards that we expect for ourselves and for our family members," the NFLPA said in a statement.

"This is why the players have asked for things like independent sideline concussion experts, the certification and credentialing of all professional football medical staff and a fairer workers compensation system in professional football," it said.

Seau is not the first former NFL player who killed himself and later was found to have had CTE. Dave Duerson and Ray Easterling are the others.

Before shooting himself, Duerson, a former Chicago Bears defensive back, left a note asking that his brain be studied for signs of trauma. His family filed a wrongful-death suit against the NFL, claiming the league didn't do enough to prevent or treat the concussions that severely damaged his brain.

Easterling played safety for the Falcons in the 1970s. After his career, he suffered from dementia, depression and insomnia, according to his wife, Mary Ann. He committed suicide last April.

Mary Ann Easterling is among the plaintiffs who have sued the NFL.

Tyler Seau played football through high school and for two years in college. He says he has no symptoms of brain trauma.

"I was not surprised after learning a little about CTE that he had it," Tyler said. "He did play so many years at that level. I was more just kind of angry I didn't do something more and have the awareness to help him more, and now it is too late."

Gina Seau's son Jake, now a high school junior, played football for two seasons but has switched to lacrosse and has been recruited to play at Duke.

"Lacrosse is really his sport and what he is passionate about," she said. "He is a good football player and probably could continue. But especially now watching what his dad went through, he says, 'Why would I risk lacrosse for football?'

"I didn't have to have a discussion with him after we saw what Junior went through."

Her 12-year-old son Hunter has shown no interest in playing football.

"That's fine with me," she said.

Read More..

Largest Spiral Galaxy in Universe Revealed

Astronomers have crowned the universe’s largest known spiral galaxy, a spectacular behemoth five times bigger than our own Milky Way.

The title-holder is now NGC 6872, a barred spiral found 212 million light-years away in the southern constellation Pavo, researchers announced today (Jan. 10). The distance between NGC 6872′s two huge spiral arms is 522,000 light-years, compared to about 100,000 light-years for the Milky Way.

NGC 6872 has ranked among the largest known spiral galaxies for decades. But it has only now been crowned champion, after detailed study of data gathered by a number of instruments, including NASA’s Galaxy Evolution Explorer spacecraft, or GALEX.

“Without GALEX’s ability to detect the ultraviolet light of the youngest, hottest stars, we would never have recognized the full extent of this intriguing system,” lead scientist Rafael Eufrasio, of NASA’s Goddard Space Flight Center in Greenbelt, Md., and the Catholic University of America, said in a statement. [Photos: 65 All-Time Great Galaxy Hits]

Eufrasio presented the results today at the 221st meeting of the American Astronomical Society in Long Beach, Calif. He stressed that spirals bigger than NGC 6872 may be out there, still waiting to be spotted and studied in depth.

NCG 6872′s enormous size and odd appearance are the consequence of its gravitational interaction with a neighbor galaxy called IC 4970, which contains just 20 percent of NGC 6872′s mass, researchers said.

Computer simulations suggest that IC 4970 made its closest approach about 130 million years ago, stirring up a burst of activity in certain parts of NCG 6872.

“The northeastern arm of NGC 6872 is the most disturbed and is rippling with star formation, but at its far end, visible only in the ultraviolet, is an object that appears to be a tidal dwarf galaxy similar to those seen in other interacting systems,” Duilia de Mello, a professor of astronomy at Catholic University, said in a statement.

NGC 6872′s bar, which links the galaxy’s arms and its central regions, is also huge. With a radius of 26,000 light-years, it’s about twice as big as the bars of nearby spirals, researchers said. No evidence of recent star formation is apparent in NGC 6872′s bar, suggesting that it formed several billion years ago or more.

The $ 150 million GALEX mission launched in April 2003 to study the history of star formation in the universe. NASA stopped funding the mission in February 2011, and in May 2012 it handed the spacecraft’s reins over to the California Institute of Technology, which is keeping the mission going with private funds.

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

Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Space and Astronomy News Headlines – Yahoo! News

Title Post: Largest Spiral Galaxy in Universe Revealed
Url Post: http://www.news.fluser.com/largest-spiral-galaxy-in-universe-revealed/
Link To Post : Largest Spiral Galaxy in Universe Revealed
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Emanuel to unveil new Chicago gun control ordinance

Senator Dick Durbin met with some of Chicagos top law enforcement officials today to focus on preventing gun violence in Chicago.

Mayor Rahm Emanuel today indicated he will put forward his own city gun control ordinance in the next few days after state lawmakers did not reach agreement on the divisive issue.

Emanuel refused to give details about what specifically his proposal will address. But he said he isn't willing to wait until state lawmakers take up gun control. Last month, a federal appeals court tossed out the state's longstanding ban on carrying concealed guns in public. The court gave the state six months to set up new rules.

During his remarks today, Emanuel hit on several of the firearms regulations he has said he would like to see in place at the state level since the Sandy Hook Elementary School shootings in Connecticut.

"Waiting is not a strong suit of mine," Emanuel said when asked today about the General Assembly's failure to pass a proposed state ban on assault weapons. "First of all, I believe there's, I know there's a majority in the state, an overwhelming majority in the city for a ban on assault weapons, clips, and comprehensive background checks on all sales, wherever they take place, wherever the location may be. And there's also a majority in the legislature."

There was not, however, enough votes in the Illinois Senate last week to pass bans on assault weapons and high-capacity clips. A new legislature featuring greater numbers of Democrats was sworn in Wednesday.

Emanuel also has spoken in recent weeks about the need for laws requiring people to report if their guns are lost or stolen.

Emanuel said he will introduce his gun legislation to the City Council at its meeting next week. It would then have to receive a committee hearing before coming back to the full council for a vote at a later date. "I will not wait when it comes to protecting our neighborhoods, our communities, our children, the residents in the city of Chicago," he said.

The mayor has been dogged by rising gun violence during his first term. His predecessor, Richard Daley, saw a city handgun ban overturned by the U.S. Supreme Court. Even when Chicago banned handguns, the city continued to be plagued by shooting violence for decades.

Emanuel acknowledged the possibility of a court fight over his upcoming plan.

"We have run it through the (city) corporation counsel, we believe this stands the muster of the court," he said.

"I can do certain things in the city," Emanuel added. "We're going to take those steps and do that."

The mayor also nodded to the fact stronger gun regulations in Chicago will have limited impact if the state and federal governments don't also take action.

"I hope this will not only be the responsibility I take for what I control. I hope it will be a spur to action for Springfield to take the steps that are necessary for them," he said during remarks at the Budlong Woods library on the Northwest Side.

Read More..

String of bombings kill 101, injure 200 in Pakistan

QUETTA, Pakistan (Reuters) - At least 101 people were killed in bombings in two Pakistani cities on Thursday in one of the country's bloodiest days in recent years, officials said, with most casualties caused by sectarian attacks in Quetta.

The bombings underscored the myriad threats Pakistani security forces face from homegrown Sunni extremist groups, the Taliban insurgency in the northwest and the less well-known Baloch insurgency in the southwest.

On Thursday evening, two coordinated explosions killed at least 69 people and injured more than 100 in Quetta, the provincial capital of Balochistan, said Deputy Inspector of Police Hamid Shakil.

The first attack, in a crowded snooker hall, was a suicide bombing, local residents said. About ten minutes later, a car bomb exploded, they said. Five policemen and a cameraman were among the dead from that blast.

The attacks happened in a predominately Shia neighborhood and banned sectarian group Lashkar-e-Jhangvi claimed responsibility. The extremist Sunni group targets Shias, who make up about 20 percent of Pakistani's population.

Targeted killings and bombings of Shia communities are common in Pakistan, and rights groups say hundreds of Shia were killed last year. Militant groups in Balochistan frequently bomb or shoot Shia passengers on buses travelling to neighboring Iran.

The killers are rarely caught and some Shia activists say militants work alongside elements of Pakistan's security forces, who see them as a potential bulwark against neighboring India.

Many Pakistanis fear their nation could become the site of a regional power struggle between Saudi Arabia, source of funding for Sunni extremist groups, and Iran, which is largely Shia.

But sectarian tensions are not the only source of violence.

The United Baloch Army claimed responsibility for a blast in Quetta's market earlier in the day. It killed 11 people and injured more than 40, mostly vegetable sellers and secondhand clothes dealers, police officer Zubair Mehmood said. A child was also killed.

The group is one of several fighting for independence for Balochistan, an arid, impoverished region with substantial gas, copper and gold reserves, which constitutes just under half of Pakistan's territory and is home to about 8 million of the country's population of 180 million.

SWAT BOMBING

In another incident Thursday, 21 were killed and more than 60 injured in a bombing when people gathered to hear a religious leader speak in Mingora, the largest city in the northwestern province of Swat, police and officials at the Saidu Sharif hospital said.

"The death toll may rise as some of the injured are in critical condition and we are receiving more and more injured people," said Dr. Niaz Mohammad.

It has been more than two years since a militant attack has claimed that many lives in Swat.

The mountainous region, formerly a tourist destination, has been administered by the Pakistani army since their 2009 offensive drove out Taliban militants who had taken control.

But Talibans retain the ability to attack in Swat and shot schoolgirl campaigner Malala Yousufzai in Mingora last October.

A Taliban spokesman said they were not responsible for Thursday's bombing.

(Additional reporting by Jibran Ahmad in Peshawar, Pakistan; Writing by Katharine Houreld; Editing by Mark Heinrich and Jason Webb)

Read More..