Jolly holiday shopping season already underway

Lilian Stoppa and Renata Rosa stepped out of Target in Midtown Miami with a cart piled high with holiday gifts.

Landing in Miami on Thursday morning for a five-day shopping spree, they already had spent $800 by mid-afternoon on presents for family members: toys for Rosa’s daughter, beauty items for Stoppa’s mother, plus lots of other stuff.

“This is just the start,” giggled Stoppa, 30, who works with Rosa, also 30, at a Sao Paulo telecom company. Their next stops: Sawgrass Mills, Aventura Mall and Bal Harbour Shops, if their money holds out. “We came to Miami to shop because it’s very much cheaper than in Brazil.”

Tourists like Stoppa and Rosa are exactly the reason retail experts predict Florida’s holiday shopping season will see its highest increase since the recession.

Across South Florida, stores are getting a head start on the holidays in hopes of cashing in. Sales are already underway everywhere from Neiman Marcus and Nordstrom, to Macy’s, Toys“R”Us and Anthropologie.

The Florida Retail Federation forecasts that Florida will see a 5.2 percent jump in holiday spending from $55 billion in 2011 to $58 billion this year, marking the highest percentage growth predicted since the economic slump began. Pre-recession, retail sales peaked at $54.3 billion in 2006.

“All of the indicators point to what we believe will be a very robust holiday shopping season,” said Florida Retail Federation President and Chief Executive Rick McAllister.

That also translates into more than 42,000 new retail jobs, he said.

Buoyed in large part by tourists and snowbirds, Florida is expected to outpace the nation in spending for the holiday season, as it did before the recession.

This year, the National Retail Federation is predicting holiday spending nationwide to rise 4.1 percent. On average, consumers are expected to spend about $750 each.

Economists point to strong consumer confidence as a major factor contributing to a stronger shopping season.

“By and large the consumer is very confident right now, and that usually leads to spending,” McAllister said.

Other indicators also point to a healthy season. ICSC, a trade association for the shopping center industry, this week released its ICSC-Goldman Sachs 2012 Holiday Spending Intentions Survey, which found that 19 percent of consumers plan to spend more, and 5 percent substantially more, on holiday gifts this year versus last year. It was the highest percentage of consumers reporting they intend to increase spending over the previous holiday season since ICSC began asking the question in 2004.

Retailers like West Elm are ready, beckoning gift givers. Stores are decked out with sparkly, eye-catching displays of items like candlesticks, ornaments and crystal paperweights.

“We’ve had lots of people shopping early, for several weeks,” said Ana Meza, an assistant manager at West Elm in Midtown Miami.

Without question, the holiday season is critical for retailers, a period when they typically generate 20 percent to 40 percent of the full year’s revenue.

This year brings an added bonus. With Thanksgiving falling early, the shopping season is stretched to 32 days, giving retailers more valuable time to rack up sales.

Shoppers like Jose Hernandez aren’t waiting for the last minute. Hernandez, who works as a civilian supervisor at the Naval Construction Battalion Center in Gulfport, Miss., and spends every other three months home in Miami, started his holiday shopping this week. He figures he spent $2,000 at Carter’s, GUESS, Marshalls and Target in Midtown, and plans to spend a total of $5,000 — up 40 percent from last year — before Christmas Day.

“The economy is going up,” said Hernandez, 44.

Yet experts say that many holiday revelers will avoid the stores all together, opting instead for online purchases.

Retail experts expect e-commerce to continue to post a dramatic increase this holiday season, up 15 percent. Though it still represents only about 5 percent of all shopping, online buying is the fastest-growing segment of the retail industry, McAllister said.

Many online sites are offering percentage discounts starting this weekend. Disney Store will offer a selection of “Magical Friday” deals on sale beginning Monday, at DisneyStore.com. Kohl’s is letting customers shop more than 500 “Early Bird specials” on Kohls.com starting Wednesday.

While apparel is expected to be the top category for purchases, gift cards are again projected to outsell any single article of merchandise. The National Retail Federation’s 2012 holiday consumer spending survey showed that 81.1 percent of shoppers will purchase at least one gift card, spending an average of $156.86 on them.

“Gift cards are the best invention ever,” said Jennifer Mayer, 44, a drug representative who has three daughters and lives in Miami Beach. “It’s not for everyone, but it’s great for those you don’t intimately know.”

This year, Mayer plans to buy gift cards at places like Starbucks, H&M, Forever 21 and Barnes & Noble.

“They’re great for bosses. They’re great for teenagers,” she said. “They’re a lifesaver.”

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Weather alert: Cool temperatures will stay into the weekend

Mild temperatures will continue into the weekend, with highs in the low-80s and lows in the mid-60s.

The weekend will remain partly cloudy, with a low chance of showers at 20 percent.

No advisories have been announced and wind will be low at 10 to 15 miles per hour each day.

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Sina banks on Weibo but weak fourth quarter guidance spooks investors

(Reuters) – Chinese Internet company Sina Corp said its fourth quarter will be hit by a softer economy and posted weaker-than-expected sales guidance, despite a stronger revenue contribution from its hot microblogging platform Weibo.

Shares in Sina fell 7 percent after it forecast adjusted net revenue of $ 132 million to $ 136 million in the current quarter, below analysts’ expectations for $ 151.9 million according to Thomson Reuters I/B/E/S.

Sina, which makes most of its revenue from online advertising both on its website and Weibo, is facing stiff headwinds as firms slash advertising budgets due to a worsening economic outlook.

“We are going to see a weaker quarter for advertising overall in the fourth quarter,” said Charles Chao, Sina’s chief executive on an earnings conference call. The firm forecast Q4 advertising revenues would rise 6-8 percent from a year earlier.

Chao said Weibo contributed 16 percent to total revenue in the third quarter, up from 10 percent in the previous quarter. The platform, which is very popular with white-collar workers, university students and celebrities, had 424 million registered users at the end of the quarter, up from 368 million three months earlier.

Advertisers, like luxury brands, that traditionally don’t advertise with Sina’s main portal website flocked to Weibo to test out the social platform, Chao said.

There were about 230,000 Weibo advertising accounts in the quarter, and Sina was in the process of rolling out a online payment system and new Weibo advertising product to increase monetization at the end of the fourth quarter.

“We believe a ‘promoted feed advertising’ will become one of the major forms of (Weibo) advertising going forward,” said Chao, adding that the product will be effective also on mobile platforms, allowing Sina to tap into Weibo’s growth on mobile devices.

Q3 PROFIT BEAT

For the third quarter, Sina’s net profit was $ 9.9 million compared with a loss of $ 336.3 million a year earlier, and slighly ahead of analysts’ expectations of $ 7.5 million.

Sina’s quarterly advertising revenue rose 19 percent to $ 120.6 million, while non-advertising revenue rose 9 percent to $ 31.8 million.

The company started monetizing Weibo by offering special services to business accounts and selling VIP memberships to regular users earlier this year.

For its mobile-value-added-services business, Sina said it expects revenue to continue to decline due to new regulatory policies.

The company was also affected by a spat between Japan and China over islands in the East China Sea as Japanese automakers cut back on advertising in China. Chao said he expected the impact to last into the fourth quarter.

“It did have an impact on our third quarter as well as our fourth quarter. We did see cancellations from customers related to Japanese automobiles in the month of September and it impacted the fourth quarter (too),” Chao said.

Sina shares fell 6.74 percent to $ 49.52 in extended trading. They closed at $ 53.10 on the Nasdaq on Thursday.

(Additional reporting by Aurindom Mukherjee in Bangalore; Editing by Sriraj Kalluvila and Richard Pullin)

Internet News Headlines – Yahoo! News

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Lindsay Lohan Good Morning American 2012 Interview

Lindsay Lohan appeared on Good Morning America today to talk about her role in Liz & Dick -- and while Amy Robach certainly covered the film, discussing the actresses' on-going legal woes was clearly her priority.

Especially since news broke yesterday that Michael Lohan discovered her fathered a child, now 17-years-old. Upon broaching the subject, Lohan, 26, exclaimed, "I didn't even hear that, so thanks for the news!" Clearly like her mother, Lindsay Lohan does her best to avoid the headlines despite constantly making them.

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But she sees Liz & Dick as a professional redemption, of sorts. "I hope my love for acting really shows through," she said. "I did the best that I could and I hope Elizabeth [Taylor] is happy, watching from above."

In fact, the presence of Taylor loomed large in Lohan's mind throughout the production. "It's really nerve-wracking to play someone who is such an incredible force. I was nervous to see what people would think about it. You can never actually be a clone of the person so you have to bring some of yourself into it. I'm lucky because I do relate to Elizabeth Taylor in a lot of ways."

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Not only that, but Lohan admits she stayed in character even when she wasn't filming! "My friends didn't come to my trailer a lot because I was Cleopatra and Virginia Woolf the entire time."

Looking ahead, Lohan just wants to keep working. "I keep calling my agents to say, 'Keep me on set!' It's safer that way."

Liz & Dick premieres on Lifetime November 25 at 9 p.m.

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Homeland Security Secretary Napolitano to return to NJ

MIDDLETOWN, NJ — US Homeland Security Secretary Janet Napolitano is slated to return to New Jersey to get an update on recovery efforts from Superstorm Sandy.

Napolitano oversees the Federal Emergency Management Agency.

Napolitano will be joined Friday by US Housing and Urban Development Secretary Shaun Donovan. Housing for those displaced by the storm is a major component of the recovery.

They're scheduled to hold a briefing at FEMA's Joint Information Center in Middletown.

Vice President Joe Biden on Sunday is scheduled to visit areas in New Jersey devastated by Sandy.

Steve White

Janet Napolitano

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FDA probing if deaths are linked to energy shots

WASHINGTON --
The Food and Drug Administration is investigating reports of 13 deaths possibly linked to so-called “energy shots” and cautioning consumers to talk to their doctors before they take them or other energy drinks.

The agency has received 92 reports that cite illnesses, hospitalizations and deaths after consumption of a product marketed as 5-Hour Energy. The FDA has also received reports that cited the highly caffeinated Monster Energy Drink in five deaths and one non-fatal heart attack.

Agency officials said the reports to the FDA from consumers, doctors and others don’t necessarily prove that the drinks caused the deaths or injuries, but said they are investigating each one.

In a statement, FDA officials said they will take action if they can link the deaths to consumption of the energy drink. Such action could include forcing the company to take the drinks, often found at convenience store checkout counters, off the market.

FDA spokeswoman Shelly Burgess said the agency is cautioning consumers that these “energy shots” or “energy drinks” are not alternatives to rest or sleep.

“If someone is thinking about taking one of these products, they should consult with their healthcare provider to ensure that there are no underlying or undiagnosed medical conditions that could worsen as a result of using them,” Burgess said.

The agency doesn’t individually regulate caffeinated drinks or supplements such as the energy shots but can take action if they are proven to do harm. Makers of caffeinated alcoholic drinks took those products off the market in 2010 after the FDA sent the companies warning letters saying that combinations of caffeine and alcohol in the drinks were a public health concern and could lead to alcohol poisoning, car accidents and assaults.

5-Hour Energy’s small size can also be dangerous to consumers with underlying conditions because it’s easier to take several of them or mix them with alcohol. Though it is liquid, the 5-Hour Energy “shot” is marketed not as a drink but as a dietary supplement. FDA regulations require supplement manufacturers themselves to be responsible for products’ safety.

A spokeswoman for the company that makes the product, Michigan-based Living Essentials, LLC, says 5-Hour Energy is a “compact-sized energy shot intended for busy adults — it is not an energy drink, nor marketed as a beverage.”

Elaine Lutz said the company is not aware of any deaths proven to have been caused by their product. She said the company’s website advises consumers to drink no more than two bottles of the shots per day, spaced several hours apart, and for new consumers to drink half a bottle to start.

The New York Times first reported that 13 deaths were linked to 5-Hour Energy.

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Feds capture suspect wanted for killing brothers in Little Haiti

U.S. Marshals have captured a wanted fugitive in Miami with help from a CBS4 viewer.

On October 29, CBS4 profiled the hunt for Barton Hill, 19, who was on the run from double-murder charges.

After seeing the story, a viewer thought he saw Hill and called U.S. Marshals late Wednesday night.

Officials set up surveillance at an apartment complex at Northwest 18th Terrace and 22nd Avenue where Hill was taken into custody around 5 Thursday morning.

Hill was wanted for a shooting spree in Little Haiti in September. Authorities said Hill and another man opened fire on four men who were watching Monday Night Football.

Two of those shooting victims, brothers, did not survive.

Barton Hill has a criminal past for violent crimes, including armed robbery and attempted murder, dating back to age 16.

Hill is being booked into the Miami-Dade County Jail

The tipster will receive a reward but the amount is unknown at this time.

This article will be updated as more information becomes available.

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Texas Instruments cuts 1,700 jobs, winds down tablet chips

NEW YORK/SAN FRANCISCO (Reuters) – Texas Instruments is eliminating 1,700 jobs, as it winds down its mobile processor business to focus on chips for more profitable markets like cars and home appliances.

Texas Instruments said in September it would halt costly investments in the increasingly competitive smartphone and tablet chip business, leading Wall Street to speculate that part of the company’s processor unit, called OMAP, could be sold.

The layoffs are equivalent to nearly 5 percent of the Austin, Texas-based company’s global workforce.

“A sale would have been better than a restructuring but a restructuring is certainly better than nothing,” Sanford Bernstein analyst Stacy Rasgon said.

TI has been under pressure in mobile processors, where it has lost ground to rival Qualcomm Inc. Leading smartphone makers Apple Inc and Samsung Electronics Co Ltd have been developing their own chips instead of buying them from suppliers like TI.

Instead of competing in phones and tablets, TI wants to sell its OMAP processors in markets that require less investment, like industrial clients like carmakers.

TI is expected to continue selling existing tablet and phone processors for products like Amazon.Com Inc‘s Kindle tablets for as long as demand remains, but stop developing new chips.

“This year, the Kindle runs on the OMAP 4 and next year’s Kindle is slated, we believe, for OMAP 5. We believe that program is well along to completion and do not expect that the termination of OMAP will disrupt those plans,” said Longbow Research analyst JoAnne Feeney.

Amazon had reportedly been in talks to buy the mobile part of OMAP.

TI said it expects to take charges of about $ 325 million related to the job cuts and other cost reduction measures, most of which will be accounted for in the current quarter. Its previously announced financial targets for the fourth quarter do not include these costs, TI said.

The company, which has 35,000 employees around the world, expects annualized savings of about $ 450 million by the end of 2013 from the action.

TI shares rose to $ 29 in after-hours trading after closing at $ 28.76, down 2 percent on Nasdaq.

(Reporting By Sinead Carew in New York and Noel Randewich in San Francisco; editing by Carol Bishopric)

Tech News Headlines – Yahoo! News

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House of Cards Trailer

It's a brave new world out there, and Netflix is leading the digital content revolution with House of Cards, the first original series from acclaimed director David Fincher (The Social Network, Seven, Panic Room, The Girl With the Dragon Tattoo).

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The new series (which will only be available on Netflix) stars Kevin Spacey as the ruthless and cunning Congressman Francis Underwood, who, along with his equally driven wife Claire (played by Robin Wright) will stop at nothing to conquer everything.

VIDEO FLASHBACK - Edie Falco's 1999 Emmy Win

Adapted from a British miniseries of the same name, House of Cards, is a biting and beautifully shot political drama that digs deep into the "shadowy world of greed, sex, and corruption in modern D.C.," according to the provider. Now, the first trailer has premiered, and like the series, it's only available to Netflix subscribers. But considering Cards looks aces and new installments of Arrested Development will also bow in 2013, I can't imagine anyone who won't be a member by 2013.

Click here to watch the trailer!

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Deadly Williamsburg hit and run

A woman is fighting for her life and another is dead after a hit and run accident in Williamsburg this morning, authorities said.

The accident happened on Borniquen Place near South 1st Street around 5:10 a.m. when a car came hit the two people and kept going, the FDNY and police said.

At least one of the victims was pinned under the car, officials said.

A man, still unidentified, died at the scene. The other victim was rushed to Elmhurst Hospital where she is in critical condition, said a spokesman for the FDNY.

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