Apple announces iPad with double storage capacity

(Reuters) – Apple Inc said on Tuesday that it will sell a version of its iPad tablet computer with 128 gigabytes of storage, which is twice the capacity of its existing models.

Apple, which has sold more than 120 million iPads so far, said that the new iPad will go on sale February 5, in black or white, for a suggested retail price of $ 799 for the iPad with just Wi-Fi model, and $ 929 for the version that also has a cellular wireless connection.

(Reporting By Sinead Carew; Editing by Gerald E. McCormick)

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Two New Breeds to Compete at Westminster Kennel Club Dog Show

People Pets

01/29/2013 at 03:00 PM EST

Treeing Walker Coonhound and a Russell Terrier

Astrid Stawiarz/Getty

Looks like there will be some new furry faces at this year's Westminster Kennel Club Dog Show.

The American Kennel Club recently announced the inclusion of two new breeds for the 2013 competition, the Russell Terrier and the Treeing Walker Coonhound.

Per a description on Westminster's official site, new breeds are considered for addition when they've reached a significant number and distribution across the United States, as well as when a breed's parent club shows a growing interest.

Praised for being "athletic, intelligent, and fiercely loyal, the Russell Terrier is well-regarded for its hunting abilities, while the Treeing Walker Coonhound – bred to track and tree wild raccoons, hence its name – takes pride in its "clear, ringing bugle voice" and "intelligent, confident and sociable" nature.

Before these new breeds take their first bow at the show, to be held on Feb. 11 and 12 in New York City, tell us: Will you be watching?

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Soldier looks forward to driving with new arms

BALTIMORE (AP) — A soldier who lost all four limbs in a roadside bombing in Iraq says he's looking forward to driving and swimming with new arms after undergoing a double-arm transplant.

"I just want to get the most out of these arms, and just as goals come up, knock them down and take it absolutely as far as I can," Brendan Marrocco said Tuesday.

The 26-year-old New Yorker spoke at a news conference at Johns Hopkins Hospital, where he was joined by surgeons who performed the operation.

After he was wounded, Marrocco said, he felt fine using prosthetic legs, but he hated not having arms.

"You talk with your hands, you do everything with your hands, basically, and when you don't have that, you're kind of lost for a while," he said.

Marrocco said his chief desire is to drive the black Dodge Charger that's been sitting in his garage for three years.

"I used to love to drive," he said. "I'm really looking forward to just getting back to that, and just becoming an athlete again."

Although he doesn't expect to excel at soccer, his favorite sport, Marrocco said he'd like to swim and compete in a marathon using a handcycle.

Marrocco joked that military service members sometimes regard themselves as poorly paid professional athletes. His good humor and optimism are among the qualities doctors cited as signs he will recover much of his arm and hand use in two to three years.

"He's a young man with a tremendous amount of hope, and he's stubborn — stubborn in a good way," said Dr. Jaimie Shores, the hospital's clinical director of hand transplantation. "I think the sky's the limit."

Shores said Marrocco has already been trying to use his hands, although he lacks feeling in the fingers, and he's eager to do more as the slow-growing nerves and muscles mend.

"I suspect that he will be using his hands for just about everything as we let him start trying to do more and more. Right now, we're the ones really kind of holding him back at this point," Shores said.

The procedure was only the seventh double-hand or double-arm transplant ever done in the United States.

The infantryman was injured by a roadside bomb in 2009. He is the first soldier to survive losing all four limbs in the Iraq War.

Marrocco also received bone marrow from the same donor to minimize the medicine needed to prevent rejection. He said he didn't know much about the donor but "I'm humbled by their gift."

The 13-hour operation on Dec. 18 was led by Dr. W.P. Andrew Lee, plastic surgery chief at Hopkins.

Marrocco was being released from the hospital Tuesday but will receive intensive therapy for two years at Hopkins and then at Walter Reed National Military Medical Center in Bethesda.

After a major surgery, human nerves regenerate at a rate of an inch per month, Lee said.

"The progress will be slow, but the outcome will be rewarding," he added.

___

Associated Press Writer David Dishneau contributed to this story from Hagerstown, Md.

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Defensive stocks extend rally as caution sets in

NEW YORK (Reuters) - Stocks rose on Tuesday, led by defensive sectors, in a sign the cash piles recently moving into the market are being put to use by cautious investors to pick up more gains.

The S&P 500 is on track to post its best monthly performance since October 2011 and its best January since 1997 as investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record.

Among rising defensive shares, which are companies relatively immune to economic swings, were drugmaker Pfizer, up 1.2 percent to $27.16 after posting earnings and AT&T , 1.5 percent higher at $34.64.

"Cyclicals were moving very nicely, now you see balance with some of the defensives. Many managers use that as an internal hedge in equity portfolios," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

She said the market is cautious ahead of Wednesday's statement following the Federal Reserve's two-day meeting. In addition, defensive stocks would hold up better if Friday's payrolls report surprises on the downside.

The S&P hovered near 1,500, and market technicians say the benchmark is at an inflection point which will determine the overall direction in the near term.

"The public is pouring in now," said Carter Worth, chief market technician at Oppenheimer & Co in New York. "It reflects complacency and that typically leads to hubris, and hubris leads to trouble. Everyone's buying."

The Dow Jones industrial average <.dji> rose 70.27 points or 0.51 percent, to 13,952.2, the S&P 500 <.spx> gained 6.62 points or 0.44 percent, to 1,506.8 and the Nasdaq Composite <.ixic> dropped 3.52 points or 0.11 percent, to 3,150.77.

The top performing sectors on the S&P 500 were healthcare <.spxhc> and telecom services <.splrcl>, so-called defensives, both up more than 1 percent.

The energy sector also advanced, on the back of strong earnings from Valero Energy Corp and a hedge fund move to break up Hess Corp to boost investor returns.

Valero shares jumped 10.3 percent to $42.82 and Hess gained 8.5 percent to $67.80.

The equity gains have largely come on a strong start to earnings season, though results were mixed on Tuesday with Pfizer rising but Ford Motor Co down after its report.

Both companies reported profits that topped expectations, but Ford also forecast a wider loss in its European segment. Ford dropped 5.6 percent to $13.01 as one of the biggest percentage losers on the S&P 500.

Thomson Reuters data showed that of the 174 companies in the S&P 500 that have reported earnings this season, 68.4 percent have been above analyst expectations, which is a higher proportion than over the past four quarters and above the average since 1994.

Disappointing outlooks from Seagate Technology and BMC Software pressured their shares. Seagate lost 9.6 percent to $33.82 and BMC fell 8.5 percent to $40.70.

Software maker VMware Inc lost 21 percent to $77.71 also after a cautious 2013 outlook.

Amazon was the biggest drag on the Nasdaq with a 2.1 percent drop to $270.17 before its results, expected after the closing bell.

U.S. home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend, but consumer confidence fell to its lowest level in more than a year in the wake of higher taxes for many Americans.

(Reporting by Rodrigo Campos; Editing by Nick Zieminski)

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Violence flares in Egypt after emergency law imposed

CAIRO (Reuters) - A man was shot dead on Monday in a fifth day of violence that has killed 50 Egyptians and prompted the Islamist president to declare a state of emergency in an attempt to end a wave of unrest sweeping the biggest Arab nation.

Emergency rule announced by President Mohamed Mursi on Sunday covers the cities of Port Said, Ismailia and Suez. The army has already been deployed in two of those cities and ministers agreed a measure to let soldiers arrest civilians.

A cabinet source told Reuters any trials would be in civilian courts, but the step is likely to anger protesters who accuse Mursi of using high-handed tactics of the kind they fought against to oust his military predecessor Hosni Mubarak.

Egypt's politics have become deeply polarized since those heady days two years ago, when protesters were making the running in the Arab Spring revolutions that sent shockwaves through the region and Islamists and liberals lined up together.

Although Islamists have won parliamentary and presidential elections, the disparate opposition has since united against Mursi. Late last year he moved to expand his powers and pushed a constitution with a perceived Islamist bias through a referendum. The moves were punctuated by street violence.

Mursi's national dialogue meeting on Monday to help end the crisis was spurned by his main opponents.

They say Mursi hijacked the revolution, listens only to his Islamist allies and broke a promise to be a president for all Egyptians. Islamists say their rivals want to overthrow by undemocratic means Egypt's first freely elected leader.

Thousands of anti-Mursi protesters were out on the streets again in Cairo and elsewhere on Monday, the second anniversary of one of the bloodiest days in the revolution which erupted on January 25, 2011 and ended Mubarak's iron rule 18 days later.

"The people want to bring down the regime," they chanted Alexandria. "Leave means go, and don't say no!" they shouted.

VOLLEYS OF TEARGAS

Propelled to the presidency in a June election by the Muslim Brotherhood, Mursi has lurched through a series of political crises and violent demonstrations, complicating his task of shoring up the economy and of preparing for a parliamentary election to cement the new democracy in a few months.

Instability in Egypt has raised concerns in Western capitals, where officials worry about the direction of a key regional player that has a peace deal with Israel.

In Cairo on Monday, police fired volleys of teargas at stone-throwing protesters near Tahrir Square, cauldron of the anti-Mubarak uprising. A car was torched on a nearby bridge.

A 46-year-old bystander was killed by a gunshot early on Monday, a security source said. It was not clear who fired.

"We want to bring down the regime and end the state that is run by the Muslim Brotherhood," said Ibrahim Eissa, a 26-year-old cook, protecting his face from teargas wafting towards him.

The political unrest has been exacerbated by street violence linked to death penalties imposed on soccer supporters convicted of involvement in stadium rioting in Port Said a year ago.

As part of emergency measures, a daily curfew will be imposed on the three canal cities from 9 p.m. (1900 GMT) to 6 a.m. (0400 GMT). Residents have said they will defy it.

The president announced the measures on television on Sunday: "The protection of the nation is the responsibility of everyone. We will confront any threat to its security with force and firmness within the remit of the law," Mursi said, angering many of his opponents when he wagged his finger at the camera.

He offered condolences to families of victims. But his invitation to Islamist allies and their opponents to hold a national dialogue was spurned by the main opposition National Salvation Front coalition. Those who accepted were mostly Mursi's supporters or sympathizers.

SENDING A MESSAGE

The Front rejected the offer as "cosmetic and not substantive" and set conditions for any future meeting that have not been met in the past, such as forming a government of national unity. They also demanded that Mursi declare himself responsible for the bloodshed.

"We will send a message to the Egyptian people and the president of the republic about what we think are the essentials for dialogue. If he agrees to them, we are ready for dialogue," opposition politician Mohamed ElBaradei told a news conference.

The opposition Front has distanced itself from the latest flare-ups but said Mursi should have acted far sooner to impose security measures that would have ended the violence.

"Of course we feel the president is missing the real problem on the ground, which is his own policies," Front spokesman Khaled Dawoud said after Mursi made his declaration.

Other activists said Mursi's measures to try to impose control on the turbulent streets could backfire.

"Martial law, state of emergency and army arrests of civilians are not a solution to the crisis," said Ahmed Maher of the April 6 movement that helped galvanize the 2011 uprising. "All this will do is further provoke the youth. The solution has to be a political one that addresses the roots of the problem."

Rights activists said Mursi's declaration was a backward step for Egypt, which was under emergency law for Mubarak's entire 30-year rule. His police used the sweeping arrest provisions to muzzle dissent and round up opponents, including members of the Brotherhood and even Mursi himself.

Heba Morayef of Human Rights Watch in Cairo said the police, still hated by many Egyptians for their heavy-handed tactics under Mubarak, would once again have the right to arrest people "purely because they look suspicious", undermining efforts to create a more efficient and respected police force.

"It is a classic knee-jerk reaction to think the emergency law will help bring security," she said. "It gives so much discretion to the Ministry of Interior that it ends up causing more abuse, which in turn causes more anger."

(Additional reporting by Yasmine Saleh in Cairo, Yusri Mohamed in Ismailia and Abdelrahman Youssef in Alexandria; Editing by Giles Elgood, Peter Millership and Alastair Macdonald)

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Crucial, long-overdue BlackBerry makeover arrives

TORONTO (AP) — The maker of the BlackBerry smartphone is promising a speedy browser, a superb typing experience and the ability to keep work and personal identities separate on the same phone, the fruit of a crucial, long-overdue makeover for the Canadian company.

Thorsten Heins, chief executive of Research In Motion Ltd., will reveal the first phone with the new BlackBerry 10 system in New York on Wednesday. Repeated delays have left the once-pioneering BlackBerry an afterthought in the shadow of Apple’s trend-setting iPhone and Google’s Android-driven devices.

Now, there’s some optimism. Previews of the software have gotten favorable reviews on blogs. Financial analysts are starting to see some slight room for a comeback. RIM‘s stock has nearly tripled to about $ 16.30 from a nine-year low in September, though it’s still nearly 90 percent below its 2008 peak of $ 147.

Most analysts consider a BlackBerry 10 success to be crucial for the company’s long-term viability.

“The old models are becoming obsolete quickly,” BGC Financial analyst Colin Gillis said. “There is still a big user base but it’s going to rotate off. The question is: Where do they rotate to?”

The BlackBerry, pioneered in 1999, has been the dominant smartphone for on-the-go business people. Corporate information-technology managers like the phones because they’re relatively secure and easy to manage.

The BlackBerry has also crossed over to consumers. President Barack Obama couldn’t bear to part with it when he took office. Oprah Winfrey declared it one of her “favorite things.” People got so addicted that the device was nicknamed “the CrackBerry.”

But when the iPhone came out in 2007, it showed that phones can do much more than email and phone calls. They can play games, music and movies. Android came along to offer even more choices. Though IT managers still love BlackBerrys, employees were bringing their own devices to the workplace — a trend Heins acknowledged RIM was slow to adapt to.

Suddenly, the BlackBerry looked ancient.

Even as BlackBerry sales continued to grow in many parts of the world, many BlackBerry users in North America switched to iPhones and Android devices. BlackBerry’s worldwide subscriber based peaked at 80 million in the quarter that ended Sept. 1, before dropping to 79 million in the most-recent quarter. In the U.S., according to research firm IDC, shipments of BlackBerry phones plummeted from 46 percent of the market in 2008 to 2 percent in 2012.

RIM promised a new system to catch up, using technology it got through its 2010 purchase of QNX Software Systems. RIM initially said BlackBerry 10 would come by early 2012, but then the company changed that to late 2012. A few months later, that date was pushed further, to early 2013, missing the lucrative holiday season. The holdup helped wipe out more than $ 70 billion in shareholder wealth and 5,000 jobs.

Although executives have been providing a glimpse at some of BlackBerry 10′s new features for months, Heins will finally showcase a complete system at Wednesday’s event. Devices will go on sale soon after that.

RIM redesigned the system to embrace the multimedia, apps and touch-screen experience prevalent today.

“Historically there have been areas that have not been our strongest points,” Rick Costanzo, RIM’s executive vice president of global sales, said in an interview. “Not only have we caught up, but we may even be better than some of the competition now.”

Costanzo said “no one else can touch” what RIM’s new system offers.

The new operating system promises better multitasking than either the iPhone or Android. Simply swipe a finger across the phone’s display screen to switch to another program.

All emails and notifications from such applications as Twitter and Facebook go to the BlackBerry Hub, a nerve center accessible with a finger swipe even if you have another application open. One can peek into it and open an email, or return to the previous application without opening the email.

“You are not going in and out of applications; you’re flowing through applications with one simple gesture of your finger,” Costanzo said. “You can leave applications running. You can effortlessly flow between them. So that’s completely unique to us.”

That said, multitasking will be limited and won’t allow for extensive use of apps side by side, as is typically permitted on traditional computers. If you’re watching a video, it will still run while you check for email. But it will pause if you decide to open an email and resume when you are done.

The BlackBerry’s touch-screen keyboard promises to learn a user’s writing style and suggest words and phrases to complete, going beyond typo corrections offered by rivals. See the one you want, and flick it up to the message area. Costanzo said that “BlackBerry offers the best keyboard, period.”

Gus Papageorgiou, a Scotiabank financial analyst who has tried it out, agreed with that assessment and said the keyboard even learns and adjusts to your thumb placements.

The first BlackBerry 10 phone will have only a touch screen. RIM has said it will release a version with a physical keyboard soon after that. That’s an area RIM has excelled at, and it’s one reason many BlackBerry users have remained loyal despite temptations to switch.

Another distinguishing feature will be the BlackBerry Balance, which allows two personas on the same device. Businesses can keep their data secure without forcing employees to get a second device for personal use. For instance, IT managers can prevent personal apps from running inside corporate firewalls, but those managers won’t have access to personal data on the device.

With Balance, “you can just switch from work to personal mode,” Papageorgiou said. “I think that is something that will attract a lot of people.”

RIM is also claiming that the BlackBerry 10′s browser will be speedy, even faster than browsers for laptop and desktop computers. According to Papageorgiou, early, independent tests between the BlackBerry 10 and the iPhone support that claim.

Regardless of BlackBerry 10′s advances, though, the new system will face a key shortcoming: It won’t have as many apps written by outside companies and individuals as the iPhone and Android. RIM has said it plans to launch BlackBerry 10 with more than 70,000 apps, including those developed for RIM’s PlayBook tablet, first released in 2011. Even so, that’s just a tenth of what the iPhone and Android offer. Papageorgiou said the initial group will include the most popular ones such as Twitter and Facebook. But RIM will have to persuade others to make a BlackBerry version, when they are already struggling to keep up with both the iPhone and Android.

Like many analysts, Papageorgiou recently upgraded RIM’s stock, but cautions that longtime BlackBerry users will have to get used to a whole new operating system.

He said RIM can be successful if about a third of current subscribers upgrade and if the company can get 4 million new users overseas, especially in countries where the BlackBerry has remained popular. IDC said smartphone shipments grew 44 percent in 2012. If those trends continue, it will be possible for the BlackBerry to grow even if iPhone and Android users don’t switch.

“This doesn’t have to be the best smartphone on the planet to be a success for RIM,” he said. “I think the big question though is, if it fails, is it just too late? Are the other two ecosystems just so advanced that no one can catch up? That’s a big risk.”

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Justin Bieber: 'I'm Not in the Happiest Place' After Selena Gomez Split

By Maggie Coughlan

01/28/2013 at 02:30 PM EST

Breaking up is hard to do – even for Justin Bieber.

After his on-again, off-again relationship with Selena Gomez, the 18-year-old pop sensation tells Billboard how he's been handling single life.

"There's so many rumors. People say I call Selena every day and she won't pick up the phone or I'm chasing her down, and these are all fake stories," he says.

He continues: "I don't go on blogs or anything like that. I hear things. People tell me if something happens on the Internet. It gets back to me, definitely."

But when asked if he's "pretty heartbroken," Bieber admits he's hasn't been having the easiest time following his split.

"I'm not in the happiest place that I've ever been. I'm trying to get through what I'm going through. Like I said, I have my really close friends to cheer me up and keep me going," he says.

Bieber – who says his song "Nothing Like Us" is about his breakup with Gomez, 20 – says he relies on his music for emotional release.

"I'm 18. I have a great team around me," he says. "I have great friends. We have a blast. They keep me occupied and keep my mind off negative things. It's funny when people are like 'You're 18. What have you really gone through?' I'm thinking, 'What do you mean? When you were 18, you don't think you went through that stuff?' When you are 18, you're going through that transition. You have a high school girlfriend, you might not. Going to college. Figuring yourself out, leaving home."

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Soldier who lost 4 limbs has double-arm transplant

The first soldier to survive after losing all four limbs in the Iraq war has received a double-arm transplant.

Brendan Marrocco had the operation on Dec. 18 at Johns Hopkins Hospital in Baltimore, his father said Monday. The 26-year-old Marrocco, who is from New York City, was injured by a roadside bomb in 2009.

He also received bone marrow from the same dead donor who supplied his new arms. That novel approach is aimed at helping his body accept the new limbs with minimal medication to prevent rejection.

The military is sponsoring operations like these to help wounded troops. About 300 have lost arms or hands in the wars.

"He was the first quad amputee to survive" from the wars in Iraq and Afghanistan, and there have been four others since then, said Brendan Marrocco's father, Alex Marrocco. "He was really excited to get new arms."

The Marroccos want to thank the donor's family for "making a selfless decision ... making a difference in Brendan's life," the father said.

Surgeons plan to discuss the transplant at a news conference with the patient on Tuesday.

The 13-hour operation was led by Dr. W.P. Andrew Lee, plastic surgery chief at Johns Hopkins, and is the seventh double-hand or double-arm transplant done in the United States. Lee led three of those earlier operations when he previously worked at the University of Pittsburgh, including the only above-elbow transplant that had been done at the time, in 2010.

Marrocco's "was the most complicated one" so far, Lee said in an interview Monday. It will take more than a year to know how fully Marrocco will be able to use the new arms, Lee said.

"The maximum speed is an inch a month for nerve regeneration," he explained. "We're easily looking at a couple years" until the full extent of recovery is known.

While at Pittsburgh, Lee pioneered the novel immune suppression approach used for Marrocco. The surgeon led hand transplant operations on five patients, giving them marrow from their donors in addition to the new limbs. All five recipients have done well and four have been able to take just one anti-rejection drug instead of combination treatments most transplant patients receive.

Minimizing anti-rejection drugs is important because they have side effects and raise the risk of cancer over the long term. Those risks have limited the willingness of surgeons and patients to do more hand, arm and even face transplants. Unlike a life-saving heart or liver transplant, limb transplants are aimed at improving quality of life, not extending it.

Quality of life is a key concern for people missing arms and hands — prosthetics for those limbs are not as advanced as those for feet and legs.

Lee has received funding for his work from AFIRM, the Armed Forces Institute of Regenerative Medicine, a cooperative research network of top hospitals and universities around the country that the government formed about five years ago. With government money, he and several other plastic surgeons around the country are preparing to do more face transplants, possibly using the new minimal immune suppression approach.

Marrocco expects to spend three to four months at Hopkins, then return to a military hospital to continue physical therapy, his father said. Before the operation, he had been living with his older brother in a handicapped-accessible home on New York's Staten Island built with the help of several charities.

The home was heavily damaged by Superstorm Sandy last fall.

Despite being in a lot of pain for some time after the operation, Marrocco showed a sense of humor, his father said. He had a hoarse voice from a tube in his throat during the long surgery, decided that he sounded like Al Pacino, and started doing movie lines.

"He was making the nurses laugh," Alex Marrocco said.

___

AP writer Alex Dominguez contributed to this report.

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S&P 500 slips after rally, but Apple lifts Nasdaq

NEW YORK (Reuters) - The S&P 500 edged lower on Monday as a four-week rally stalled, while a rebound in Apple shares helped buoy the Nasdaq.

Caterpillar shares helped cap losses in the Dow industrials even as the company posted a 55 percent drop in quarterly profit due to a charge connected with accounting fraud at a Chinese subsidiary and weak demand among its dealers. Caterpillar's shares, down 2.2 percent in the past three sessions, rose 1.5 percent Monday to $96.97.

The S&P 500 is coming off a streak of eight sessions of gains, the longest in eight years. On Friday, the major U.S. stock indexes closed a fourth straight week of gains with the S&P 500 ending the session above 1,500 for the first time in more than five years.

The rally has left the market vulnerable to a short-term pullback of up to 3 percent in the S&P 500 as bullish sentiment continues to rise, according to Richard Ross, Auerbach Grayson's global technical strategist.

"Still," Ross said, "we have a lot of momentum and nice seasonality, and technicals support the long-term bull market."

Data on Monday pointed to growing economic momentum as companies sensed improved consumer demand.

Thomson Reuters data showed that of the 150 companies in the S&P 500 that have reported earnings so far, 67.3 percent have beaten analysts' expectations, which is a higher proportion than over the past four quarters and above the average since 1994.

The Dow Jones industrial average <.dji> fell 9.02 points or 0.06 percent, to 13,886.96, the S&P 500 <.spx> lost 1.5 points or 0.1 percent, to 1,501.46 and the Nasdaq Composite <.ixic> added 8.46 points or 0.27 percent, to 3,158.17.

Bargain hunters lifted Apple after the tech giant's stock dropped 14.4 percent in the previous two sessions. With Apple's stock up 2.4 percent at $450.29, the iPad and iPhone maker regained the title as the largest U.S. company by market capitalization as Exxon Mobil fell 0.9 percent to $90.94 and slipped back to second place.

"I think there is more downside in Apple if you did get a broad market pullback," Auerbach Grayson's Ross said.

"I'd be patient unless you're a trader. It might not be the most attractive entry point."

U.S. durable goods orders jumped 4.6 percent in December, a pace that far outstripped expectations for a rise of 1.8 percent. Pending home sales unexpectedly dropped 4.3 percent. Analysts were looking for an increase of 0.3 percent.

Equities have also gained support from a recent agreement in Washington to extend the government's borrowing power. On Monday, Fitch Ratings said that agreement removed the near-term risk to the country's 'AAA' rating.

Hess Corp shares shot up 5.3 percent to $62.02 after the company said it would exit its refining business, freeing up to $1 billion of capital. Separately, hedge fund Elliott Associates is looking for approval to buy about $800 million more in Hess stock.

Keryx Biopharmaceuticals Inc said a late-stage trial of its experimental kidney disease drug met the main study goal, and its shares soared 67 percent to $5.75.

(The story fixes extraneous guides at bottom)

(Editing by Jan Paschal and Nick Zieminski)

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Nightclub fire kills at least 232 in Brazil

SANTA MARIA, Brazil (Reuters) - A fire in a nightclub killed at least 232 people in southern Brazil on Sunday when a band's pyrotechnics show set the building ablaze and fleeing partygoers stampeded toward blocked and overcrowded exits in the ensuing panic, officials said.

The blaze in the university town of Santa Maria was started by a band member or someone from its production team igniting a flare, which then set fire to the ceiling, said Luiza Sousa, a civil police official. The fire spread "in seconds," she said.

Local fire officials said at least one exit was locked and that bouncers, who at first thought those fleeing were trying to skip out on bar tabs, initially blocked patrons from leaving. The security staff relented only when they saw flames engulfing the ceiling.

The vast majority of the victims, most of them university students, died from asphyxiation, officials said. Others were crushed in the stampede.

"We ran into a barrier of the dead at the building's exit," Colonel Guido Pedroso de Melo, commander of the Santa Maria fire squad, said of the scene firefighters found on arrival. "We had to clear a path to get to the rest of those that were inside."

An estimated 500 people were in the Boate Kiss nightclub when the fire broke out at around 2:30 a.m., police said. Witnesses said the club, which has a 2,000-person capacity, was always busy on weekends but wasn't any more crowded than usual.

The death tally was lowered slightly, with police saying at midafternoon that 232 people had been killed, down from an initial figure of 245.

When the fire began, many revelers were unable to find their way out amid the chaos, confusing restroom doors for exits and finding resistance from bouncers when they did find an exit door.

"It all happened so fast," survivor Taynne Vendrusculo told GloboNews TV. "Both the panic and the fire spread rapidly, in seconds."

Once security guards realized the building was on fire, they tried in vain to control the blaze with a fire extinguisher, according to a televised interview with one of the guards, Rodrigo Moura. He said patrons were getting trampled as they rushed for the doors, describing it as "a horror film."

Television footage showed people sobbing outside the club before dawn, while shirtless firefighters used sledge hammers and axes to knock down an exterior wall to open up an exit.

SAFETY STANDARDS IN SPOTLIGHT

Rescue officials moved the bodies to a local gymnasium, where the deceased were segregated by gender. Male victims were easier to identify, they said, because most of them, unlike the women, whose purses were left scattered in the devastated nightclub, had identification on them.

One of the club's owners had already surrendered to police for questioning, GloboNews reported.

President Dilma Rousseff, who started her political career in the Rio Grande do Sul state where the fire happened, cut short a visit to Chile to return to visit the scene. Before leaving Chile, she broke out in tears as she pledged government help for the victims and their families.

"We are trying to mobilize all possible resources to help in the rescue efforts," Rousseff said. "All I can say at the moment is that my feelings are of deep sorrow."

The disaster recalls other incidents including a 2003 fire at a nightclub in West Warwick, Rhode Island, that killed 100, and a Buenos Aires nightclub blaze in 2004 that killed nearly 200. In both incidents, a band or members of the audience ignited fires that set the establishment ablaze.

Brazil's safety standards and emergency response capabilities are under particular scrutiny as it prepares to host the 2014 World Cup soccer tournament and the 2016 Olympics.

Santa Maria, with a population of more than 275,000, is about 186 miles west of the state capital of Porto Alegre.

Rio Grande do Sul state's health secretary, Ciro Simoni, said emergency medical supplies from all over the state were being sent to the scene.

(Additional reporting by Guillermo Parra-Bernal, Gustavo Bonato, Jeferson Ribeiro, Eduardo Simões and Brian Winter; Writing by Paulo Prada; Editing by Todd Benson, Kieran Murray and Eric Beech)

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