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)

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Report on Savile Sexual Abuse Scandal to Be Released

LONDON — British police and the country’s leading children’s charity were preparing on Friday to publish comprehensive details of the sexual abuse scandal involving former television host Jimmy Savile that has convulsed the nation’s public broadcaster, drawn in a mounting tally of suspects and raised questions about the protection of children from predators.

The report was expected to claim that children as young as 10 were among the victims of Mr. Savile, who died October 2011 at age 84. A few weeks later, “Newsnight,” a flagship current affairs program on the British Broadcasting Corporation, canceled an investigation into allegations of sexual abuse by Mr. Savile shortly before the BBC broadcast Christmas tributes to him.

As the scandal grew, it forced the resignation of the former director general of the BBC, George Entwistle. Police officials said last month that 589 people have made accusations related to the scandal, including 450 allegation of abuse by Mr. Savile, once depicted as a somewhat zany national treasure devoted to charitable works. The accusation include 31 of rape.

In addition, police investigations into abuse by Mr. Savile and other prominent figures in the entertainment industry have led to 10 men being interviewed about sexual accusations that they all deny. Six more men, who have not been identified by name, are under investigation.

The Guardian newspaper said on Friday that the report to be published by Scotland Yard and the National Society for the Prevention of Cruelty to Children would accuse Mr. Savile of abusing children as young as 10. The institutions where abuse took place included a hospice for the dying, several hospitals and prisons and BBC premises, British news reports said.

Before the report was published, John Cameron, the head of child protection for the children’s charity, told The Guardian: “It is very clear that Savile assaulted very young children and that he was a prolific pedophile, there is no doubt about that. We want this to mark a cultural shift so that if a child speaks out about someone, we take what they are saying seriously and we act upon it always in future.”

A report commissioned by the BBC concluded last month that lax leadership hampered by “rigid management chains” left the corporation “completely incapable” of dealing with the crisis.

A 200-page report by Nick Pollard, a veteran British broadcast executive, strongly criticized the editorial and management decisions that prompted the BBC to cancel the broadcast in 2011 that would have exposed decades of abuse.

But Mr. Pollard absolved top management of applying “undue pressure” in the decision to stop the broadcast.

The report also did not challenge the assertions of Mark Thompson, then head of the BBC, that he had no role in killing the Savile investigation and was unaware of the sexual abuse accusations until he left the BBC this September. Mr. Thompson is now president and chief executive of The New York Times Company.

The report’s central conclusion was that confusion and mismanagement, not a cover-up, lay at the heart of the decision to drop the Savile segment on “Newsnight.”

A second BBC inquiry into the culture of the BBC over decades of abuse is continuing.

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Native Canadians could block development, chief warns

OTTAWA (Reuters) – Native Canadians are so angry that they could resort to blocking resource development and bring the economy “to its knees” unless the Conservative government addresses their grievances, an influential chief said on Thursday.

Native Canadian chiefs are due to meet with Prime Minister Stephen Harper on Friday to discuss the poor living conditions facing many of Canada’s 1.2 million aboriginals.

“We have had enough. Our young people have had enough. Our women have had enough … . We have nothing left to lose,” said Grand Chief Derek Nepinak from the province of Manitoba.

Activists have already blockaded some rail lines and threatened to close Canada’s borders with the United States in a campaign they call “Idle No More.”

Canada has 633 separate native “bands,” each of which have their own communities and lands, and not all share the same opinions. The chief of the Assembly of First Nations, the aboriginal umbrella group, said his members had come to a tipping point, but he made no mention of damaging the economy.

“You cannot ignore what is happening with Idle No More… We will drive the final stake in the heart of colonialism and it will happen in this generation,” Shawn Atleo told a separate news conference.

“First Nations are not opposed to resource development, they are just not supportive of development at any cost,” he said.

Native Canadian leaders say they want more federal money, a greater say over what happens to resources on their land and more respect from the federal Conservative government.

“These are demands, not requests,” said Nepinak. “The Idle No More movement has the people – it has the people and the numbers – that can bring the Canadian economy to its knees. It can stop Prime Minister Stephen Harper’s resource development plan,” Nepinak told reporters in Ottawa.

“We have the warriors that are standing up now, that are willing to go that far. So we’re not here to make requests, we’re here to demand attention,” he said.

Aboriginal bands are unhappy about Enbridge Inc’s plans to build a pipeline from the oil sands of Alberta to the Pacific province of British Columbia, and some say they will not allow the project to go ahead.

Some aboriginal bands oppose the Enbridge pipeline on the grounds that it is too environmentally dangerous while others say the company did not do enough to consult them before applying for permission to go ahead with the project.

“DIPLOMATIC HAND”

Nepinak said he wants to extend a “diplomatic hand” toward resolving the issues and gave no details about what he meant by bringing the economy to its knees.

Nepinak and other Manitoba chiefs are also demanding that Ottawa rescind parts of two recent budget acts they say reduce environmental protection for lakes and rivers, and make it easier to sell lands on the reserves where many natives live.

“We’ve been working tirelessly to gain access through various channels into this Harper regime … . How do we trust the words of this prime minister?” Nepinak asked.

Successive Canadian governments have struggled for decades to improve the life of aboriginals.

Ottawa spends around C$ 11 billion ($ 11.1 billion) a year on its aboriginal population, yet living conditions for many are poor, particularly for those on reserves with high rates of poverty, addiction, joblessness and suicide.

As part of the Idle No More campaign, protesters blocked a Canadian National Railway Co line in Sarnia, Ontario, in late December and early January.

($ 1=$ 0.99 Canadian)

(Reporting by David Ljunggren; Editing by Peter Galloway, Xavier Briand and David Brunnstrom)

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Audrey Hepburn: Remembering the Private Legend

By Elizabeth McNeil

01/10/2013 at 07:35 PM EST

Audrey Hepburn with her son, Luca Dotti, in 1985

Audrey Hepburn Childrens Fund

She captivated the world with her doe-eyed beauty, but behind the Givenchy glamour, there was an Audrey Hepburn few people knew.

She thought her nose too big, her feet too large and her neck too long. She loved to shop for groceries (but not clothes), didn't wear makeup at home, never went to the gym and enjoyed two fingers of Scotch every night. 

"She was not this ethereal creature," says Robert Wolders, 76, the Dutch actor who was her companion for the last 13 years of her life. "She was an earthy woman with a ribald sense of humor."

What Hepburn had, adds Wolders, "was more than beauty. It was this extraordinary mystique."

Hepburn left Hollywood at age 34 at the height of her fame, moving into a 1732 farmhouse in Tolochenaz, a small Swiss village, where she found happiness raising two sons and purpose in her charity work for UNICEF. 

Two decades after her death from abdominal cancer at 63 on Jan. 20, 1993, her children and her last love remember the Audrey they adored. 

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Asian shares, Brent retreat after China CPI; yen slides

TOKYO (Reuters) - Asian shares and Brent crude futures fell on Friday as a pick-up in Chinese inflation prompted profit-taking, although an improving outlook for global economies curbed losses, while the yen slid on renewed expectations for bold monetary easing in Japan.

China's annual consumer inflation rate accelerated to a seven-month high of 2.5 percent in December on rising food prices, narrowing the scope for the central bank to boost the economy by easing monetary policy. The producer price index fell 1.9 percent in December from a year earlier, marking the 10th consecutive month of declines, but improved from November's 2.2 percent annual drop.

Brent crude futures fell 0.4 percent to $111.50 a barrel and U.S. crude trimmed earlier rises to trade nearly flat at 93.86.

"China's inflation was hotter than expected which might add a little bit of downside risk and some investors may be cashing in profits," said Ben Le Brun, market analyst at OptionsXpress.

MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.2 percent, erasing morning gains that brought the index near its highest level since August 2011 hit last week. The index looked set to end the week virtually flat after starting the first week of 2013 with a 2.4 percent jump.

Shanghai shares <.ssec> tumbled 1.3 percent, dragging Hong Kong shares <.hsi> into negative territory, while Australian shares <.axjo> ended down 0.3 percent.

"It's not the end of the world. We have been trending in overbought territory for more than a week anyway, so this higher headline inflation is a trigger for some profit-taking. We are in a consolidation phase," said Hong Hao, Bank of Communication International's chief equity strategist, based in Hong Kong.

Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo, said the China inflation data offered some positive signs but, given the market's rapid rally over the past month, it was probably used as an excuse to book profits.

"The slight pickup in inflation is still well below the 3.5 percent forecast by China, and may also reflect recovery in consumption," he said, adding that the data was unlikely to significantly dent an overall trend in improving risk appetite.

Unexpectedly strong Chinese trade data on Thursday buoyed hopes that demand from the world's second-largest economy will rise, while cautiously optimistic comments from European Central Bank President Mario Draghi eased anxiety over the euro zone debt problems.

European markets will likely sustain optimism. Financial spread-betters predicted London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open as much as 0.3 percent higher. U.S. stock futures were little changed, hinting at steady Wall Street start. <.l><.eu><.n/>

EPFR Global noted that equity mutual funds have brought in $6.8 billion of inflows over the last four business days, with equity flows exceeding bond flows.

In a sign of some stability, South Korea's central bank held interest rates steady for a third consecutive month on Friday as expected, to assess the effect from two cuts last year. However, the bank also revised down its outlook for South Korea's GDP growth in 2013 to 2.8 percent from 3.2 percent, which along with a sharp rise in the won hurt Seoul shares.

ABE FUELS NIKKEI BUYING

Japan's benchmark Nikkei stock average <.n225> closed up 1.4 percent at a 23-month high as the yen's further slide boosted exporters. Japanese financial markets will be closed on Monday for a public holiday. <.t/>

Prime Minister Shinzo Abe "is seen seriously committed to making the economy better as he is becoming more detailed, and investors are feeling it is possible under his government," said Kyoya Okazawa, head of global equities at BNP Paribas in Tokyo.

Japan's cabinet approved on Friday an economic stimulus package in the biggest spending boost since the financial crisis as Abe pursues an ambitious agenda to spur growth and end stubborn deflation.

The dollar jumped to 89.35 yen, its highest since June 2010, on strengthening speculation Abe will exert strong pressure on the Bank of Japan to pursue aggressive easing steps. Abe said in an interview with the Nikkei newspaper on Friday that the BOJ should consider maximizing employment as a monetary policy goal to help boost the economy.

The euro surged to 118.58 yen, its highest since May 2011.

The yen selling gained momentum after data on Friday showed Japan had logged a current account deficit in November for the first time in 10 months at 222.4 billion yen ($2.5 billion), overshooting a 3.5 billion yen deficit forecast.

"Fresh short-term players, who know nothing about Japan and have never traded the yen before, are now joining the yen selling, and these fresh faces are responding to headlines," said Yunosuke Ikeda, a senior FX strategist at Nomura Securities.

The euro was last at $1.3261 after earlier hitting a one-week high of $1.3280, helped by a smooth first bond sale of the year from Spain on Thursday, which pushed benchmark 10-year Spanish government bond yields to a 10-month low of 4.90 percent.

As the yen fell, Tokyo gold futures rallied to a record high on Friday to as high as 4,820 yen per gram, exceeding the previous record of 4,754 yen marked on September 7, 2011.

(Additional reporting by Ayai Tomisawa in Tokyo, Clement Tan in Hong Kong and Ramya Venugopal in Singapore; Editing by Shri Navaratnam, Paul Tait and Chris Gallagher)

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Censored Newspaper in China Returns to Publication Amid Struggles

GUANGZHOU, China — Propaganda officials in the southern province of Guangdong have agreed to loosen some controls over an embattled newspaper whose struggle against censorship has galvanized free-speech advocates across China, according to journalists at the newspaper. But the paper’s weekly Thursday edition went to press late partly because of internal disputes over content, one senior editor said.

The agreement, reached late Tuesday, was part of a compromise in which reporters and editors who had said they would strike continued to work to put out the newspaper, Southern Weekend, also known as Southern Weekly. It is an iconic liberal publication that has regularly challenged Communist Party officials and policies but has come under tighter control in recent years, particularly since the summer.

The publication delay on Thursday was due in part to a disagreement between the newspaper’s leadership and employees over whether to publish an editorial defending the newspaper and letters of support from readers, the senior editor said. The leadership chose not to publish the editorial or the letters in an effort to calm the crisis, he said.

In Beijing, talk of another newsroom in crisis emerged on Wednesday as reporters at Beijing News, a newspaper co-founded by the parent company of Southern Weekend, said propaganda officials forced the newspaper, against the judgment of its publisher and top editors, to run an editorial attacking Southern Weekend. Some journalists broke down in tears in the newsroom, according to various accounts, and the publisher, Dai Zigeng, threatened to resign, but was still in his job Wednesday night.

The deal in Guangzhou, the provincial capital, appeared to bring a tentative peace to a newsroom in turmoil, though journalists said they would have to see whether provincial officials followed through on their promises.

The journalists appeared to back down from their demands that the top provincial propaganda official, Tuo Zhen, leave his post. Newspaper employees have accused Mr. Tuo of putting in place much stricter censorship rules since he began his job in May; in particular, they said, he had a hand in the rewriting of a New Year’s editorial that was supposed to have been a call for enforcement of constitutional rights but that ended up being more of a paean to the current system. It is unclear what role Mr. Tuo played in the changes, which ignited the call last weekend among some journalists to carry out a strike.

Journalists at Southern Weekend said that under rules imposed by Mr. Tuo, propaganda officials regularly reviewed the content of the paper before it went to print and vetted reporting topics proposed by journalists. Those rules are supposed to be abolished under the new agreement.

Zeng Li, a veteran journalist who reviews articles in-house at Southern Weekend to guard against riling the censors, said, “Now things are calming down.”

“To publish a good paper is the hope of both the leaders and the staff,” he added.

Hu Chunhua, the new party chief of Guangdong, China’s most liberal province, helped mediate the settlement, journalists said. The clash over censorship is the first big test for Mr. Hu, 49, who is considered one of the party’s rising stars and a candidate to be the leader of China in a decade.

The battle at Southern Weekend also poses a challenge for the central authorities. Xi Jinping, the new party chief, made a trip to Guangdong late last year to stress the need to open the economy further. Analysts have wondered whether he will also call for greater political freedoms. Mr. Xi has made remarks, though, that underscore the need for China to remain true to its socialist roots.

Central propaganda officials appear to have taken a tough line on the censorship issue by demanding this week that the biggest news Web sites and some important publications print an editorial criticizing Southern Weekend that was originally published by Global Times, a populist newspaper, and widely derided by Chinese journalists. Beijing News ran a truncated version.

One journalist described the scene in the Beijing News office in a blog post: “Some people look sad; some burst into tears; some shout that they are going to quit.”

The post continued: “We don’t want to kneel down, but our knees have been shattered. We are kneeling down this one time while gnashing our teeth.”

Edward Wong reported from Guangzhou, and Jonathan Ansfield from Beijing. Mia Li contributed research from Guangzhou, and Shi Da from Beijing.

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Facebook to hold press event, stock passes $30

NEW YORK (AP) — Shares of Facebook are pushing above $ 30 for the first time since July after it sent out invitations to “come and see what we’re building” Tuesday at its headquarters in Menlo Park, Calif.

The company will say nothing more about the event. Speculation Wednesday ranged from a Facebook phone, something the company has consistently denied exists, to new search capabilities that would put it into direct competition with Google Inc.

The company emailed invitations to reporters and bloggers Tuesday and by Wednesday, shares passed the $ 30 mark for the first time since July.

Though still below its initial public offering price of $ 38, shares of Facebook Inc. have risen steadily since November as investors grow more confident that the social media site can make money through its growing mobile audience.

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Wall Street rises after Alcoa reports earnings

NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season.

Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness.

Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.

Herbalife Ltd stock rose 4.2 percent to $39.95 in its most active day of trading in the company's history after hedge fund manager Dan Loeb took a large stake in the nutritional supplements seller. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has denied.

Traders have been cautious as the current quarter shaped up like the previous one, with companies recently lowering expectations, said James Dailey, portfolio manager of Team Asset Strategy Fund in Harrisburg, Pennsylvania. Lower expectations leave room for companies to surprise investors even if their results are not particularly strong.

"The big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.

Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter are expected to have grown by 1.9 percent, according to Thomson Reuters data.

The Dow Jones industrial average <.dji> gained 61.66 points, or 0.46 percent, to 13,390.51. The Standard & Poor's 500 Index <.spx> rose 3.87 points, or 0.27 percent, to 1,461.02. The Nasdaq Composite Index <.ixic> gained 14.00 points, or 0.45 percent, to 3,105.81.

Facebook Inc shares rose above $30 for the first time since July 2012, trading up 5.3 percent at $30.59. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.

Clearwire Corp shares jumped 7.2 percent to $3.13 after Dish Network bid $2.28 billion for the company, beating out a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.

Apollo Group Inc slid after heavier early losses, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 7.8 percent at $19.32.

Volume was below the 2012 average of 6.42 billion shares traded per day, as 6.10 billion were traded on the New York Stock Exchange, NYSE MKT and Nasdaq.

Advancing stocks outnumbered declining ones on the NYSE by 2,014 to 963, while on the Nasdaq advancers beat decliners 1,603 to 859.

(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)

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Q. and A. With Gen. Stanley McChrystal

Brendan Hoffman for The New York Times

Retired U.S. Army Gen. Stanley McChrystal in his office on Saturday.

WASHINGTON — As the Obama administration weighs how many troops to keep in Afghanistan after 2014, Gen. Stanley A. McChrystal cautioned that the United States still needs to keep forces there to help stabilize the country and urged a continued effort to advise the Afghan military that appears to be more extensive than the White House has in mind.

“If we allow Afghanistan to become completely unstable, Pakistan’s stability is really difficult,” the former American commander in Afghanistan said in a recent interview. “So I think there’s a geostrategic argument for it.”

General McChrystal offered his analysis of Afghanistan in the interview, which coincided with the release of his book “My Share of the Task: A Memoir,” published by Portfolio/Penguin.

The general, who is retired from the Army, was fired by President Obama from his post in 2010 after an article in Rolling Stone quoted him and his staff as making dismissive comments about the White House.

His comments come as Hamid Karzai, the Afghan president, is scheduled to begin a series of high-level meetings this week in Washington.

Regarding Afghanistan, some analysts have urged that the United States rely mainly on small numbers of commandos to carry out raids against Al Qaeda and other terrorist groups.

But General McChrystal asserted that such “counterterrorism” operations work best when they are coupled with “counterinsurgency” efforts to build up the ability of the host nation to govern and bolster the capability of its forces.

He also noted that to carry out commando raids, the American military needs bases, an intelligence network and arrangements for medical evacuation. “But if you don’t have the support of the Afghan people, if you are just in there doing what you want to do on their terrain, there’s no reason for them to be supportive of this,” he said. “We’d be fighting our own war on their territory, and they’re just not that interested in that.”

On troop numbers, General McChrystal declined to say how many troops the United States might need to keep in Afghanistan after 2014. (The White House is considering retaining a force of 3,000 to 9,000 troops, which would be complemented by a much smaller number of troops from other NATO nations).

General McChrystal agreed that the American force, currently 66,000 troops, should be substantially reduced. But he cautioned advised against retaining too small a force.

“We had 7,500 in Afghanistan in the summer of 2002 when I was first stationed there,” he said. “And 7,500 wouldn’t do much.”

An important question for the NATO mission after 2014 is what level of the Afghan military hierarchy would allied nations advise. Under the largest of the troop options under consideration by the White House, it is generally expected that NATO would advise seven regional Afghan Army corps and several regional Afghan police headquarters.

It is unlikely that NATO officers will advise Afghan battalions on the battlefield under this option as that would require many more advisers than the alliance is likely to muster.

But General McChrystal suggested that a more extensive advisery effort was needed to make the Afghan military more effective. “My personal tendency would be to get advisers a little bit lower than corps; I’d want them down to battalion level,” he said.

General McChrystal said he voted for Mr. Obama in 2008 but declined to say whom he had voted for in 2012. He would not discuss the Rolling Stone article in detail but insisted that he had intended no disrespect for the president or his aides.

After the article was published, General McChrystal said that he arrived at his fateful meeting with Mr. Obama on June 23, 2010, with his resignation in hand. The decision whether to accept it was up to the president.

Nick Hubbard contributed research.

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Samsung’s big push for 2013: content, corporates

LAS VEGAS (Reuters) – Samsung Electronics, the global leader in consumer smartphones, is planning two major thrusts in 2013: bulking up mobile content and moving faster into the corporate market dominated by Research in Motion.

The South Korean electronics company is investing in devices that enterprise users like corporations will endorse, with a higher level of security and reliability than general users need. In doing so, Samsung is capitalizing on doubts about the longevity of the BlackBerry as its Canadian maker struggles to revive growth.

Samsung’s corporate market ambitions have advanced as the Galaxy SIII, its popular flagship smartphone, won the requisite security certifications from companies, said Kevin Packingham, chief product officer for Samsung Mobile USA.

As RIM prepares to launch its next-generation BlackBerry 10 this quarter, the company’s future remains shaky. Corporate technology officers have begun to explore other smartphones, such as those by Apple Inc or Samsung.

“The enterprise space has suddenly become wide open. The RIM problems certainly fueled a lot of what the CIOs are going through, which is they want to get away from a lot of the proprietary solutions,” Packingham said in an interview at the Consumer Electronics Show in Las Vegas. “They want something that integrates what they are doing with their IT systems. Samsung is investing in that area.”

“It’s been a focus for a long time but the products have evolved now that we can really take advantage of that,” he added. “We knew we had to build more tech devices to successfully enter the enterprise market. What really turned that needle was that we had the power of the GS3.”

Samsung in 2012 overtook Apple as the world’s largest maker of smartphones, with a vastly larger selection of cellphones that attacked different price points and proved popular in emerging markets.

German business software maker SAP provides employees with Samsung’s Galaxy S III, the larger Galaxy Note and the Galaxy Tab, SAP Chief Information Officer Oliver Bussmann said in an interview.

“The one clear trend in enterprise is the shift away from one device to multiple devices,” said Bussman, who makes 10 devices available to SAP employees for official use. The list includes Apple’s iPhone and iPad, Nokia Lumia and RIM’s Blackberry.

“Because of the fragmentation of the Android software, we decided to go with just one Android company and we went with Samsung,” he added.

Now, the Korean hardware specialist is beefing up its software – an area in which it has lagged arch-enemy Apple, which revolutionized the mobile phone from 2007 with its content-rich, developer-led iPhone ecosystem.

Packingham sees an area ripe for innovation – combining the mobile phone with Samsung’s strength, the TV, which has barely evolved in the past decade.

Still, the U.S.-based executive remained cagey about Samsung’s plans for content and enterprise.

“You are going to see from content services, we’ll start to integrate what’s happening on the big screen, what’s happening on the tablet,” he said.

“We know now that people like to explore content that they are watching on TV while they have a tablet in their lap, and that’s going to be a big theme for this year.”

(Editing by Richard Chang)

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