Iran hedges on nuclear talks with six powers or U.S.

MUNICH (Reuters) - Iran said on Sunday it was open to a U.S. offer of direct talks on its nuclear program and that six world powers had suggested a new round of nuclear negotiations this month, but without committing itself to either proposal.

Diplomatic efforts to resolve a dispute over Iran's nuclear program, which Tehran says is peaceful but the West suspects is intended to give Iran the capability to build a nuclear bomb, have been all but deadlocked for years, while Iran has continued to announce advances in the program.

Iranian Foreign Minister Ali Akbar Salehi said a suggestion on Saturday by U.S. Vice President Joe Biden that Washington was ready for direct talks with Iran if Tehran was serious about negotiations was a "step forward".

"We take these statements with positive consideration. I think this is a step forward but ... each time we have come and negotiated it was the other side unfortunately who did not heed ... its commitment," Salehi said at the Munich Security Conference where Biden made his overture a day earlier.

He also complained to Iran's English-language Press TV of "other contradictory signals", pointing to the rhetoric of "keeping all options on the table" used by U.S. officials to indicate they are willing to use force to keep Iran from obtaining a nuclear weapon.

"This does not go along with this gesture (of talks) so we will have to wait a little bit longer and see if they are really faithful this time," Salehi said.

Iran is under a tightening web of sanctions. Israel has also hinted it may strike if diplomacy and international sanctions fail to curb Iran's nuclear drive.

In Washington, Army General Martin Dempsey, the top U.S. military officer, said in an interview broadcast on Sunday that the United States has the capability to stop any Iranian effort to build nuclear weapons, but Iranian "intentions have to be influenced through other means."

Dempsey, chairman of the Joint Chiefs of Staff, made his comments on NBC's program "Meet the Press," speaking alongside outgoing Defense Secretary Leon Panetta.

Panetta said current U.S. intelligence indicated that Iranian leaders have not made a decision to proceed with the development of a nuclear weapon.

"But every indication is they want to continue to increase their nuclear capability," he said. "And that's a concern. And that's what we're asking them to stop doing."

The new U.S. secretary of state, John Kerry, has said he will give diplomacy every chance of solving the Iran standoff.

THE BEST CHANCE

With six-power talks making little progress, some experts say talks between Tehran and Washington could be the best chance, perhaps after Iran has elected a new president in June.

Negotiations between Iran and the six powers - Russia, China, the United States, Britain, France and Germany - have been deadlocked since a meeting last June.

EU officials have accused Iran of dragging its feet in weeks of haggling over the date and venue for new talks.

Salehi said he had "good news", having heard that the six powers would meet in Kazakhstan on February 25.

A spokesman for EU foreign policy chief Catherine Ashton, who coordinates the efforts of the six powers, confirmed that she had proposed talks in the week of February 25 but noted that Iran had not yet accepted.

Kazakhstan said it was ready to host the talks in either Astana or Almaty.

Salehi said Iran had "never pulled back" from the stuttering negotiations with the six powers. "We still are very hopeful. There are two packages, one package from Iran with five steps and the other package from the (six powers) with three steps."

Iran raised international concern last week by announcing plans to install and operate advanced uranium enrichment machines. The EU said the move, potentially shortening the path to weapons-grade material, could deepen doubts about the peaceful nature of Iran's nuclear program.

Prime Minister Benjamin Netanyahu said on Sunday that Israel's mission to stop its arch-enemy from acquiring nuclear weapons was "becoming more complex, since the Iranians are equipping themselves with cutting-edge centrifuges that shorten the time of (uranium) enrichment".

"We must not accept this process," said Netanyahu, who is trying to form a new government after winning an election last month. Israel is generally believed to be the only country in the Middle East with nuclear weapons.

(Additional reporting by Myra MacDonald and Stephen Brown in Munich, Dmitry Solovyov in Almaty, Yeganeh Torbati in Dubai and Jim Wolf in Washington; Editing by Kevin Liffey and Will Dunham)

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Xbox Hoax Leads Armed Cops to Family

Members of a Florida family were shocked to be awakened in the middle of the night to find their house surrounded by police with guns drawn shouting at them to put their hands up.

Police Lt. Mike Beavers said the commotion was “very rare” for the small town of Oviedo, about 20 miles northeast of Orlando.

“This is the first time I’ve heard of it happening in our little town,” Beavers told ABCNews.com.

The frightened family did not want to be identified but recounted the ordeal to ABC News’ Orlando affiliate WFTV.

“I heard the doorbell ring,” the father of two told WFTV. “We couldn’t see anybody at the front of the door. All we saw was the rifle barrel.”

The man said he and his wife originally believed they were being robbed.

“They have rifles, they have guns, and I said, ‘Let’s get out of the house,’ so we ran down the hallway and got our two boys up,” the father said.

“We were told to freeze and put our hands over our heads,” he recalled. “They said, ‘We’re the police,’ so that was a big relief.”

What the family didn’t realize was that an Xbox hoax had led the Oviedo police to its house. The police said they were responding to a call from AT&T saying it had received online messages from a person who said he was hiding inside the house, claiming that someone had been killed there and that others were being held hostage.

But when police arrived, all they found was a very surprised and confused family.

Upon investigation, police learned that the confusion all started when an Oviedo teenager living in another house called police saying his Xbox had been hacked.

The teenager said the hackers had threatened to call in bomb threats to his home if he did not meet their demands for gaming information.

When the teenager refused, the hackers sent fake messages reporting the killing and hostage taking at the teenager’s former home. His previous address, where police showed up, was still connected to his Xbox.

The teenager did some of his own investigating, police said, and provided authorities with some possible identifying information on the hackers.

“The caller gave information to officers regarding two possible suspects, including IP addresses, Twitter and Facebook accounts and a possible name of one of the suspects,” according to the police report. “The information provided to the officers revealed that both suspects were located in different states.”

The information has been turned over to Oviedo detectives for further investigation.

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What Football Game? Beyoncé Rocks the Superdome in Leather & Lace

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Style News Now

02/03/2013 at 09:06 PM ET

One thing was certain going into Super Bowl XLVII: Beyoncé was going to put on a killer halftime show, and she was going to look amazing doing it. And if she practiced until her feet bled, there was no sign of it as she danced in her towering heels.

To strut out onstage during ‘Crazy In Love,’ the star wore an uncharacteristically demure belted lamé mini with wide lapels, but she quickly tore it away to reveal a leather bodysuit with a black lace skirt worn over her signature fishnets. She completed the look with thigh-highs and sexy black booties.

Destiny’s Child fans missing the trio’s epic matching outfits were given a treat when Kelly Rowland and Michelle Williams proved the rumors true, joining Beyoncé onstage for a medley that included ‘Bootylicious’ and ‘Single Ladies.’ Their costumes echoed Bey’s: Rowland wore a revealing V-neck Emilio Pucci bodysuit, while Williams was glam in a tough-girl ribbed leather mini.

And to ensure that Beyoncé’s hair was supremely whip-able (as demonstrated during ‘Baby Boy’ and ‘Halo’), stylist Kim Kimble gave her a “soft glam” look by curling it, then brushing out the curls and smoothing them with Kimble Hair Care Brazilian Nut and Acai serum. She sprayed it with L’Oréal’s classic Elnett hairspray to ensure it wouldn’t budge no matter what the superstar put it through.

Tell us: What did you think of Beyoncé’s Super Bowl outfit — and the Destiny’s Child reunion looks?

–Alex Apatoff

PHOTOS: VOTE ON MORE STAR STYLE HERE!

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New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

Read More..

"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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Turkey says tests confirm leftist bombed U.S. embassy

ISTANBUL (Reuters) - A member of a Turkish leftist group that accuses Washington of using Turkey as its "slave" carried out a suicide bomb attack on the U.S. embassy, the Ankara governor's office cited DNA tests as showing on Saturday.

Ecevit Sanli, a member of the leftist Revolutionary People's Liberation Army-Front (DHKP-C), blew himself up in a perimeter gatehouse on Friday as he tried to enter the embassy, also killing a Turkish security guard.

The DHKP-C, virulently anti-American and listed as a terrorist organization by the United States and Turkey, claimed responsibility in a statement on the internet in which it said Turkish Prime Minister Tayyip Erdogan was a U.S. "puppet".

"Murderer America! You will not run away from people's rage," the statement on "The People's Cry" website said, next to a picture of Sanli wearing a black beret and military-style clothes and with an explosives belt around his waist.

It warned Erdogan that he too was a target.

Turkey is an important U.S. ally in the Middle East with common interests ranging from energy security to counter-terrorism. Leftist groups including the DHKP-C strongly oppose what they see as imperialist U.S. influence over their nation.

DNA tests confirmed that Sanli was the bomber, the Ankara governor's office said. It said he had fled Turkey a decade ago and was wanted by the authorities.

Born in 1973 in the Black Sea port city of Ordu, Sanli was jailed in 1997 for attacks on a police station and a military staff college in Istanbul, but his sentence was deferred after he fell sick during a hunger strike. He was never re-jailed.

Condemned to life in prison in 2002, he fled the country a year later, officials said. Interior Minister Muammer Guler said he had re-entered Turkey using false documents.

Erdogan, who said hours after the attack that the DHKP-C were responsible, met his interior and foreign ministers as well as the head of the army and state security service in Istanbul on Saturday to discuss the bombing.

Three people were detained in Istanbul and Ankara in connection with the attack, state broadcaster TRT said.

The White House condemned the bombing as an "act of terror", while the U.N. Security Council described it as a heinous act. U.S. officials said on Friday the DHKP-C were the main suspects but did not exclude other possibilities.

Islamist radicals, extreme left-wing groups, ultra-nationalists and Kurdish militants have all carried out attacks in Turkey in the past.

SYRIA

The DHKP-C statement called on Washington to remove Patriot missiles, due to go operational on Monday as part of a NATO defense system, from Turkish soil.

The missiles are being deployed alongside systems from Germany and the Netherlands to guard Turkey, a NATO member, against a spillover of the war in neighboring Syria.

"Our action is for the independence of our country, which has become a new slave of America," the statement said.

Turkey has been one of the leading advocates of foreign intervention to end the civil war in Syria and has become one of President Bashar al-Assad's harshest critics, a stance groups such as the DHKP-C view as submission to an imperialist agenda.

"Organizations of the sectarian sort like the DHKP-C have been gaining ground as a result of circumstances surrounding the Syrian civil war," security analyst Nihat Ali Ozcan wrote in a column in Turkey's Daily News.

The Ankara attack was the second on a U.S. mission in four months. On September 11, 2012, U.S. Ambassador Christopher Stevens and three American personnel were killed in an Islamist militant attack on the U.S. Consulate in Benghazi, Libya.

The DHKP-C was responsible for the assassination of two U.S. military contractors in the early 1990s in protest against the first Gulf War, and it fired rockets at the U.S. consulate in Istanbul in 1992, according to the U.S. State Department.

It has been blamed for previous suicide attacks, including one in 2001 that killed two police officers and a tourist in Istanbul's central Taksim Square. It has carried out a series of deadly attacks on police stations in the last six months.

Friday's attack may have come in retaliation for an operation against the DHKP-C last month in which Turkish police detained 85 people. A court subsequently remanded 38 of them in custody over links to the group.

(Writing by Nick Tattersall; Editing by Mark Heinrich)

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Nebraska Lieutenant Governor Sheehy resigns over phone scandal

(Reuters) – Nebraska Lieutenant Governor Rick Sheehy, the leading candidate to replace the current governor in the next election, resigned on Saturday after a newspaper investigation raised questions about improper cell phone calls made to women.

The Omaha World-Herald investigation found that the 53-year-old Republican made about 2,000 late-night calls to four women, other than his wife, on his state-issued cell phone over four years. The newspaper plans to publish results of the investigation on Sunday.

Colleen Sheehy, his wife of 28 years, filed for divorce in July 2012, according to the newspaper.

Governor Dave Heineman announced the resignation of Sheehy, a rising star in state politics, at a news conference. The governor said he was “deeply disappointed” and that Sheehy had done good work, but “trust was broken.”

“Public officials are rightly held to a higher standard,” Heineman said at the news conference, provided on the Omaha World-Herald website.

Heineman will leave office in 2015 and Sheehy had announced that he would run for governor. He was considered a leading candidate. Heineman selected Sheehy as lieutenant governor in 2005 after moving into the governor’s office to replace Mike Johanns, who was tapped as U.S. agriculture secretary.

Heineman and Sheehy were elected to their first full term in 2006 and re-elected to a second term in 2010.

(Reporting by Mary Wisniewski; editing by Gunna Dickson)

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Busy Philipps Feels No Pressure to Bounce Back After Baby

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Busy Philipps may be willing to dish out style advice to fellow expectant mamas — but she’s not about to start breaking out the postpartum weight loss lectures.

Currently pregnant with her second child, the Cougar Town star admits that while her celebrity status opens her up for public scrutiny, she’s not planning a big bounceback after baby.

“Like most things in this business, I think that you have to do what’s right for you and you can’t be too concerned about what some magazine is going to write about you,” Philipps, 33, tells HuffPost Celebrity.

“We’re in a business where a lot of people are blessed with pretty incredible bodies, that they work hard for or comes naturally, and not everybody has the same body.”

According to Philipps, staying healthy is priority during pregnancy and women “should be given a break” when it comes to packing on the extra pounds — especially by those dubious doctors!

“It’s interesting when people make comments about celebrities’ weight gain or lack of weight gain as if they’re a medical professional that’s treating that celebrity,” she notes. “Like, ‘This doctor does not treat Jessica Simpson, but thinks her weight is unhealthy.’ If you don’t treat her, then how do you know?”

After the arrival of daughter Birdie Leigh, now 4, the actress took her time regaining her post-baby bod — a journey, she says, lasted almost a year — preferring to instead instill a positive attitude (and approach) in her little girl.

“I wanted to be healthy for her and have a healthy body image so that she hopefully grows up to see that her self worth isn’t defined by how thin she is,” Philipps explains.

“Thrilled to be expecting another baby with husband Marc Silverstein, Philipps wasn’t sure if expanding their tight-knit trio was even in the cards for the couple. No one, however, was more ecstatic over the news than the big sister-to-be, whose wish is finally coming true.

“My daughter is very excited … it’s actually something that she has asked for for quite some time,” she says. “My husband and I were on the fence about whether or not we were going to add to our family, but now that we’re on our road, we’re really excited.”

– Anya Leon

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New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

Read More..

"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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