TSX little changed, RIM positioning offsets banks






TORONTO (Reuters) – Canada‘s main stock index finished little changed on Monday, as gains in the financial group were partially offset by Research In Motion Ltd shares, which sagged ahead of its critical BlackBerry 10 launch this week.


The Toronto Stock Exchange‘s S&P/TSX composite index <.gsptse> was down 0.72 of a point at 12,815.91. Half of the index’s 10 key sectors climbed higher.</.gsptse>






(Reporting by Solarina Ho)


Wireless News Headlines – Yahoo! News





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IHT Rendezvous: Regulating the British Press

LONDON — News doesn’t just travel fast here. It happens fast, too. And once it has happened, new news overtakes the old: the dogs bark, as the old Middle Eastern adage has it, but the caravan moves on.

So it has seemed in the almost two months since the publication of the bulky Leveson Report into the culture and behavior of the British press. The land has been swamped by a procession of other front-page stories — British hostages in Algeria! Referendum on Europe! — and the urgency of Lord Justice Sir Brian Leveson’s call for statutory oversight of the rambunctious press here seems to have dissipated.

But a couple of developments in recent days have recalled some of the issues — quite apart from a steady trickle of arrests linked to the phone hacking and allied scandals that prompted the Leveson inquiry in the first place.

Page Two

Posts written by the IHT’s Page Two columnists.

One was the return from duty in Afghanistan of Prince Harry, the third in line to the British throne, who, as I describe in my latest column on Page Two of The International Herald Tribune, stirred a media frenzy by acknowledging that — no real surprise here — as the gunner co-pilot of an Apache attack helicopter, he was expected to fire on Taliban insurgents.

But there was a sub-plot.

Prince Harry’s aversion to the British media — equally unsurprising in light of the tangled relationship between his mother, Princess Diana, and the world’s newspapers, photographers and broadcasters — appears to be growing to the extent that he accused the British press of always writing “rubbish” about him.

A video report from Britain’s Channel 4 News shot during Prince Harry’s recent deployment to Afghanistan.

And yet, for the 20 weeks of Prince Harry’s deployment in Afghanistan, most news outlets in Britain had largely agreed with Buckingham Palace and the Ministry of Defense not to cover closely his role in the war, in return for guaranteed access at the end of his tour — a gesture of what the authorities would doubtless call responsibility on the part of that same press the prince dismissed.

The prince’s comments drew a tart response from Peter Barron, the editor of the regional Northern Echo. “It would have been nice if Prince Harry had resisted getting out his huge tar brush to blacken the entire British press and acknowledged that there are good and bad in every profession — including the armed forces,” he said.

The broader issue of how Britain regulates its media is still the object of closed-door talks among editors and executives and between politicians. But it could well resurface publicly next month.

“This is not about politicians determining what journalists do or do not write. The freedom of the press is essential,” Harriet Harman, the spokeswoman on media affairs for the opposition Labour Party, told a gathering in Oxford, England, last week. “But so is that other freedom: the freedom of a private citizen to go about their business without harassment, intrusion or the gross invasion of their grief and trauma. Those two freedoms are not incompatible.”

She challenged the government directly to set out its own proposals for the future regulation of the press.

“It is now time for the government to have the courage of its convictions,” she said, adding: “The public must be able to scrutinize the proposals. And Parliament — to whom Lord Justice Leveson trusted a key role in setting up the new system — must be able to decide.”

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Who are these guys at QB in Super Bowl?


NEW ORLEANS (AP) — Tom Brady is not playing in the Super Bowl. Neither is Ben Roethlisberger or either of the Mannings.


This Super Bowl has a pair of fresh faces in Colin Kaepernick and Joe Flacco, one of whom will leave New Orleans as the latest and greatest at football's glamour position.


For each, this is new territory.


Flacco, the only quarterback to win a playoff game in each of his first five NFL seasons, will lead the AFC champion Baltimore Ravens into Sunday's matchup with second-year QB Kaepernick and the NFC winners, the San Francisco 49ers. Not exactly a superstar matchup — yet.


It's the first time in a decade that neither Brady, Roethlisberger, Eli Manning or Peyton Manning has gotten to the Super Bowl.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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Well: Keeping Blood Pressure in Check

Since the start of the 21st century, Americans have made great progress in controlling high blood pressure, though it remains a leading cause of heart attacks, strokes, congestive heart failure and kidney disease.

Now 48 percent of the more than 76 million adults with hypertension have it under control, up from 29 percent in 2000.

But that means more than half, including many receiving treatment, have blood pressure that remains too high to be healthy. (A normal blood pressure is lower than 120 over 80.) With a plethora of drugs available to normalize blood pressure, why are so many people still at increased risk of disease, disability and premature death? Hypertension experts offer a few common, and correctable, reasons:


Jane Brody speaks about hypertension.




¶ About 20 percent of affected adults don’t know they have high blood pressure, perhaps because they never or rarely see a doctor who checks their pressure.

¶ Of the 80 percent who are aware of their condition, some don’t appreciate how serious it can be and fail to get treated, even when their doctors say they should.

¶ Some who have been treated develop bothersome side effects, causing them to abandon therapy or to use it haphazardly.

¶ Many others do little to change lifestyle factors, like obesity, lack of exercise and a high-salt diet, that can make hypertension harder to control.

Dr. Samuel J. Mann, a hypertension specialist and professor of clinical medicine at Weill-Cornell Medical College, adds another factor that may be the most important. Of the 71 percent of people with hypertension who are currently being treated, too many are taking the wrong drugs or the wrong dosages of the right ones.

Dr. Mann, author of “Hypertension and You: Old Drugs, New Drugs, and the Right Drugs for Your High Blood Pressure,” says that doctors should take into account the underlying causes of each patient’s blood pressure problem and the side effects that may prompt patients to abandon therapy. He has found that when treatment is tailored to the individual, nearly all cases of high blood pressure can be brought and kept under control with available drugs.

Plus, he said in an interview, it can be done with minimal, if any, side effects and at a reasonable cost.

“For most people, no new drugs need to be developed,” Dr. Mann said. “What we need, in terms of medication, is already out there. We just need to use it better.”

But many doctors who are generalists do not understand the “intricacies and nuances” of the dozens of available medications to determine which is appropriate to a certain patient.

“Prescribing the same medication to patient after patient just does not cut it,” Dr. Mann wrote in his book.

The trick to prescribing the best treatment for each patient is to first determine which of three mechanisms, or combination of mechanisms, is responsible for a patient’s hypertension, he said.

¶ Salt-sensitive hypertension, more common in older people and African-Americans, responds well to diuretics and calcium channel blockers.

¶ Hypertension driven by the kidney hormone renin responds best to ACE inhibitors and angiotensin receptor blockers, as well as direct renin inhibitors and beta-blockers.

¶ Neurogenic hypertension is a product of the sympathetic nervous system and is best treated with beta-blockers, alpha-blockers and drugs like clonidine.

According to Dr. Mann, neurogenic hypertension results from repressed emotions. He has found that many patients with it suffered trauma early in life or abuse. They seem calm and content on the surface but continually suppress their distress, he said.

One of Dr. Mann’s patients had had high blood pressure since her late 20s that remained well-controlled by the three drugs her family doctor prescribed. Then in her 40s, periodic checks showed it was often too high. When taking more of the prescribed medication did not result in lasting control, she sought Dr. Mann’s help.

After a thorough work-up, he said she had a textbook case of neurogenic hypertension, was taking too much medication and needed different drugs. Her condition soon became far better managed, with side effects she could easily tolerate, and she no longer feared she would die young of a heart attack or stroke.

But most patients should not have to consult a specialist. They can be well-treated by an internist or family physician who approaches the condition systematically, Dr. Mann said. Patients should be started on low doses of one or more drugs, including a diuretic; the dosage or number of drugs can be slowly increased as needed to achieve a normal pressure.

Specialists, he said, are most useful for treating the 10 percent to 15 percent of patients with so-called resistant hypertension that remains uncontrolled despite treatment with three drugs, including a diuretic, and for those whose treatment is effective but causing distressing side effects.

Hypertension sometimes fails to respond to routine care, he noted, because it results from an underlying medical problem that needs to be addressed.

“Some patients are on a lot of blood pressure drugs — four or five — who probably don’t need so many, and if they do, the question is why,” Dr. Mann said.


How to Measure Your Blood Pressure

Mistaken readings, which can occur in doctors’ offices as well as at home, can result in misdiagnosis of hypertension and improper treatment. Dr. Samuel J. Mann, of Weill Cornell Medical College, suggests these guidelines to reduce the risk of errors:

¶ Use an automatic monitor rather than a manual one, and check the accuracy of your home monitor at the doctor’s office.

¶ Use a monitor with an arm cuff, not a wrist or finger cuff, and use a large cuff if you have a large arm.

¶ Sit quietly for a few minutes, without talking, after putting on the cuff and before checking your pressure.

¶ Check your pressure in one arm only, and take three readings (not more) one or two minutes apart.

¶ Measure your blood pressure no more than twice a week unless you have severe hypertension or are changing medications.

¶ Check your pressure at random, ordinary times of the day, not just when you think it is high.

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Yahoo Earnings Beat Forecasts


SAN FRANCISCO — Yahoo reported earnings Monday that were considerably above Wall Street expectations.


Yahoo reported net income in the fourth quarter of $272 million, or 23 cents a share, compared to $295.6 million, or 24 cents a share, in the year-ago quarter.


But using a non-standard accounting method favored by Wall Street analysts, the net income was 32 cents a share. Analysts had expected 28 cents a share, according to a survey by Thomson Reuters.


The company said revenue was up 1.5 percent from the same quarter a year ago at $1.35 billion.


“I’m proud of Yahoo’s 2012 and fourth-quarter results,” Yahoo’s chief executive, Marissa Mayer, said in a company press release. “In 2012, Yahoo exhibited revenue growth for the first time in four years, with revenue up 2 percent year-over-year.”


Yahoo’s fourth-quarter earnings arrived at a critical juncture for Ms. Mayer, who joined the company six months ago.


Since then, her sheer presence at Yahoo headquarters seems to have jolted the company’s stock back to life. Yahoo’s stock is up more than 10 percent since July, and closed at its highest price since September 2008 on Thursday at $20.52.


Yahoo’s stock jumped more than 4 percent Monday in after-hours trading after closing at $20.31 in regular trading.


With Ms. Mayer’s honeymoon coming to an end, investors are eager to see whether she can deliver revenue growth.


Yahoo’s revenue has largely languished in an increasingly competitive landscape, in which it now finds itself vying with Facebook and Google for engineers, and for greater share of the online display advertising market.


The company’s search business, which Yahoo outsourced to Microsoft in 2009, is on its last legs, propped up only because of a revenue-guarantee clause in its contract with Microsoft that is set to expire in two months, though search revenue rose 4 percent in the fourth quarter to $482 million compared to $465 million for the year-ago quarter.


But as Ms. Mayer has acknowledged, Yahoo’s future growth may well depend on its mobile strategy. Without its own mobile hardware, browser or social platform of its own, Yahoo has a long way to go.


In the past, Ms. Mayer has said the company’s mobile growth may come from smaller-scale acquisitions of mobile app companies. Yahoo acquired Stamped, a mobile app, for an undisclosed sum last October. In December, Yahoo acquired OnTheAir, a small video-conferencing start-up, whose five-member team will focus on mobile products. Last week, it made its third acquisition with Snip.it, a San Francisco start-up. Like Stamped and OnTheAir, the service was immediately shut down. The team said it would be working in the “social news” area.


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Twitter launches advertising services in Middle East






DUBAI (Reuters) – Twitter Inc launched advertising services in the Middle East and North Africa on Sunday as the social media firm seeks to exploit a tripling of its regional subscriber base following its widespread use during the Arab Spring protests.


Digital advertising is relatively undeveloped in the region, accounting for an estimated 4 percent of its total advertising spending, but a young, tech-savvy population and rising Internet penetration points to significant potential for growth.






“The two are interconnected – the rapid growth of our user base with the timing of why we want to help brands connect with that audience,” said Shailesh Rao, Twitter vice-president for international operations.


Twitter does not provide a regional breakdown of its more than 200 million users worldwide, but Rao said its MENA subscriber base had tripled in the past 12 months.


The company has recruited Egypt’s Connect Ads, which is ultimately owned by Cairo-listed Orascom Telecom Media and Technology, to launch advertising initially in Egypt, Saudi Arabia, Pakistan, Kuwait and the United Arab Emirates.


Pepsi and Saudi telecom operator Etihad Etisalat (Mobily) are among its confirmed clients, the company said.


Twitter says the products it promotes typically have an audience response rate of 1 to 3 percent, significantly higher than traditional advertising rate of 0.1 to 0.5 percent.


“Social media advertising is totally different because it relies on what people say. It’s about two-way, not one-way, communication,” said Mohamed El Mehairy, Connect Ads managing director.


(editing by Jane Baird)


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Fire Sweeps Through Nightclub in Brazil; Scores Dead


Germano Rorato/Agencia RBS, via European Pressphoto Agency


A victim was carried from the scene of the nightclub fire in Santa Maria, Brazil.







RIO DE JANEIRO — A fire ignited by a flare from a band’s pyrotechnic spectacle swept through a nightclub filled with hundreds of university students early on Sunday morning in Santa Maria, a city in southern Brazil, killing at least 232 people, police officials said.




Health workers hauled bodies from the club, called Kiss, to hospitals in Santa Maria throughout Sunday morning. Some of the survivors were taken to the nearby city of Porto Alegre to be treated for burns. Valdeci Oliveira, a local legislator, said he saw piles of bodies in the nightclub’s bathrooms.


Col. Guido Pedroso de Melo, the commander of the city’s Fire Department, said security guards had locked exits, which intensified the panic as people in the club stampeded to the doors. One police investigator at the club, Elizabeth Shimomura, told a television news channel, “It is a scene of horror.”


Survivors described a scene of mayhem as patrons rushed for the main exit. “I only got out because I am strong,” Ezequiel Corte Real, 23, told reporters. He said he helped others escape the blaze.


The disaster in Santa Maria, which is in the relatively prosperous state of Rio Grande do Sul, shocked the country. President Dilma Rousseff canceled appointments at a summit meeting in Chile to travel to Santa Maria, a city of about 260,000 residents that is known for its cluster of universities.


The disaster ranks among the deadliest of nightclub fires, comparable to the 2003 blaze in Rhode Island that killed 100 people, one in 2004 in Buenos Aires in which 194 were killed, and a fire at a club in China in 2000 in which 309 people died.


The circumstances surrounding the blaze, including the use of pyrotechnics and the reports of the locked exits, are expected to raise questions about whether the club’s owners had been negligent. While it is not clear why patrons were initially not allowed to escape, it is common across Brazil for nightclubs and bars to have customers to pay their entire tab upon leaving, instead of on a per-drink basis.


More broadly, the blaze may focus attention on issues of accountability in Brazil and point to the relaxed enforcement of measures aimed at protecting citizens in an economy that is on solid footing. Preventable disasters still commonly claim lives in Brazil, as illustrated by Rio de Janeiro’s building collapses, manhole explosions and trolley mishaps.


“Bureaucracy and corruption also cause tragedies,” said Andre Barcinski, a columnist for Folha de São Paulo, one of Brazil’s largest newspapers.


Some of the survivors pointed to a heated argument over who was responsible. “Only after a multitude pushed down the security guards did they see the crap they had done,” Murilo de Toledo Tiecher, 26, a medical student who survived the fire, said in comments posted on Facebook.


Witnesses said the fire started about 2 a.m. after a rock band, Gurizada Fandangueira, began performing for an audience made up mostly of students in the agronomy and veterinary medicine programs at a local university.


At least one member of the five-person band, which is based in Santa Maria and had advertised its use of pyrotechnics, was said to have been killed. Many of the victims died of smoke inhalation, officials said.


“The smoke spread very quickly,” Aline Santos Silva, 29, one of the survivors, said in comments to the Globo News television network. “Those who were closest to the stage where the band was playing had the most difficulty getting out.”


Human rights officials focused Sunday on the grief in Santa Maria. “How many families are now searching for their young one?” asked Maria do Rosário Nunes, a cabinet minister who is Ms. Rousseff’s top human rights official.


Brazilian television stations broadcast images of trucks carrying corpses to hospitals where family members were gathering. Photographs taken shortly after the blaze and posted on the Web sites of local news organizations showed frantic scenes in which people on the street outside the nightclub pulled bodies from the charred debris.


The tragedy took place in a region of Brazil where Ms. Rousseff began her political career before rising to national prominence as a top aide to the former president, Luiz Inácio Lula da Silva, and running for president herself. Before leaving the summit in Chile, she appeared distraught, crying in front of reporters as she absorbed details of the blaze.


“This is a tragedy,” she said, “for all of us.”


Jill Langlois contributed reporting from São Paulo, Brazil.



This article has been revised to reflect the following correction:

Correction: January 27, 2013

A picture of a hallway strewn with shoes that accompanied a previous version of this online article was used in error. It showed the aftermath of a fire in Buenos Aires in 2004, not Saturday night’s fire in Santa Maria, Brazil.



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Djokovic completes Australian Open hat trick


MELBOURNE, Australia (AP) — No shirt ripping or bare-chested flexing this time.


Novak Djokovic completed his work before midnight, defeating Andy Murray in four sets for his third consecutive Australian Open title and fourth overall.


It was also the second time in three years Djokovic had beaten his longtime friend in this final. So the celebration was muted: a small victory shuffle, raised arms, a kiss for the trophy. No grand histrionics, although that's not to say the moment was lost on him.


"Winning it three in a row, it's incredible," Djokovic said after his 6-7 (2), 7-6 (3), 6-3, 6-2 victory Sunday night. "It's very thrilling. I'm full of joy right now. It's going to give me a lot of confidence for the rest of the season, that's for sure."


Nine other men had won consecutive Australian titles in the Open era, but none three straight years. One of them was Andre Agassi, who presented Djokovic with the trophy.


A year ago, Djokovic began his season with an epic 5-hour, 53-minute five-set win over Rafael Nadal at the Australian Open, the longest Grand Slam final. He tore off his shirt to celebrate, the TV replays repeated constantly at this tournament.


He mimicked that celebration after coming back to beat Stanislas Wawrinka in five hours in a surprisingly tough fourth-round victory this time.


Since then, he's looked every bit the No. 1 player. He said he played "perfectly" in his 89-minute win over fourth-seeded David Ferrer in the semifinals Thursday night. Murray struggled to beat 17-time major winner Roger Federer in five sets in the semifinals Friday night, and still had the bad blisters on his feet to show for it in the final.


In a final that had the makings of a classic when two of the best returners in tennis were unable to get a break of serve in the first two sets that lasted 2:13, the difference may have hinged on something as light as a feather.


Preparing for a second serve at 2-2 in the second set tiebreaker, Murray was rocking back about to toss the ball when he stopped, paused and then walked onto the court and tried to grab a small white feather that was floating in his view. He went back to the baseline, bounced the ball another eight times and served too long.


After being called for a double-fault, Murray knocked the ball away in anger and flung his arm down. He didn't get close for the rest of the tiebreaker and was the first to drop serve in the match — in the eighth game of the third set. Djokovic broke him twice in the fourth set, which by then had turned into an easy march to victory.


"It was strange," said Djokovic, adding that it swung the momentum his way. "It obviously did. ... He made a crucial double-fault."


Murray didn't blame his loss on the one distraction.


"I mean, I could have served. It just caught my eye before I served. I thought it was a good idea to move it," he said. "Maybe it wasn't because I obviously double-faulted.


"You know, at this level it can come down to just a few points here or there. My biggest chance was at the beginning of the second set — didn't quite get it. When Novak had his chance at the end of the third, he got his."


Djokovic had five break-point chances in the opening set, including four after having Murray at 0-40 in the seventh game, but wasn't able to convert any of them.


Then he surrendered the tiebreaker with six unforced errors. Murray appeared to be the stronger of the two at the time. He'd beaten Djokovic in their last Grand Slam encounter, the U.S. Open final, and had the Serb so off balance at times in the first set that he slipped to the court and took skin off his knee.


Murray held serve to open the second set and had three break points at 0-40 in the second game, but Djokovic dug himself out of trouble and held.


"After that I felt just mentally a little bit lighter and more confident on the court than I've done in the first hour or so," Djokovic said. "I was serving better against him today in the first two sets than I've done in any of the match in the last two years."


Djokovic said he loves playing at Rod Laver Arena, where he won his first major title in 2008. He now has six Grand Slam titles altogether. Federer has won four of his 17 majors at Melbourne Park, and Agassi is the only other player to have won that many in Australia since 1968.


Djokovic was just finding his way at the top level when Agassi retired in 2006, but he had watched enough of the eight-time major winner to appreciate his impact.


"He's I think one of the players that changed the game — not just the game itself, but also the way the people see it," Djokovic said. "So it was obviously a big pleasure and honor for me to receive the trophy from him."


Agassi was among the VIPs in the crowd, along with actor Kevin Spacey and Victoria Azarenka, who won the women's final in three sets against Li Na the previous night.


Murray broke the 76-year drought for British men at the majors when he won the U.S. Open last year and said he'll leave Melbourne slightly more upbeat than he has after defeats here in previous years.


"The last few months have been the best tennis of my life. I mean, I made Wimbledon final, won the Olympics, won the U.S. Open. You know, I was close here as well," he said. "No one's ever won a slam (immediately) after winning their first one. It's not the easiest thing to do. And I got extremely close.


"So, you know, I have to try and look at the positives of the last few months, and I think I'm going the right direction."


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Brain Aging Linked to Sleep-Related Memory Decline


Scientists have known for decades that the ability to remember newly learned information declines with age, but it was not clear why. A new study may provide part of the answer.


The report, posted online on Sunday by the journal Nature Neuroscience, suggests that structural brain changes occurring naturally over time interfere with sleep quality, which in turn blunts the ability to store memories for the long term.


Previous research had found that the prefrontal cortex, the brain region behind the forehead, tends to lose volume with age, and that part of this region helps sustain quality sleep, which is critical to consolidating new memories. But the new experiment, led by researchers at the University of California, Berkeley, is the first to directly link structural changes with sleep-related memory problems.


The findings suggest that one way to slow memory decline in aging adults is to improve sleep, specifically the so-called slow-wave phase, which constitutes about a quarter of a normal night’s slumber.


Doctors cannot reverse structural changes that occur with age any more than they can turn back time. But at least two groups are experimenting with electrical stimulation as a way to improve deep sleep in older people. By placing electrodes on the scalp, scientists can run a low current across the prefrontal area, essentially mimicking the shape of clean, high-quality slow waves.


The result: improved memory, at least in some studies. “There are also a number of other ways you can improve sleep, including exercise,” said Ken Paller, a professor of psychology and the director of the cognitive neuroscience program at Northwestern University, who was not involved in the research.


Dr. Paller said that a whole array of changes occurred across the brain during aging and that sleep was only one factor affecting memory function.


But Dr. Paller said the study told “a convincing story, I think: that atrophy is related to slow-wave sleep, which we know is related to memory performance. So it’s a contributing factor.”


In the study, the research team took brain images from 19 people of retirement age and from 18 people in their early 20s. It found that a brain area called the medial prefrontal cortex, roughly behind the middle of the forehead, was about one-third smaller on average in the older group than in the younger one — a difference due to natural atrophy over time, previous research suggests.


Before bedtime, the team had the two groups study a long list of words paired with nonsense syllables, like “action-siblis” and “arm-reconver.” The team used the nonwords because one type of memory that declines with age is for new, previously unseen information.


After training on the pairs for half an hour or so, the participants took a test on some of them. The young group outscored the older group by about 25 percent.


Then everyone went to bed — and bigger differences emerged. For one, the older group got only about a quarter of the amount of high-quality slow-wave sleep that the younger group did, as measured by the shape and consistency of electrical waves on an electroencephalogram machine, or EEG. It is thought that the brain moves memories from temporary to longer-term storage during this deep sleep.


On a second test, given in the morning, the younger group outscored the older group by about 55 percent. The estimated amount of atrophy in each person roughly predicted the difference between his or her evening and morning scores, the study found. Even seniors who were very sharp at night showed declines after sleeping.


“The analysis showed that the differences were due not to changes in capacity for memories, but to differences in sleep quality,” said Bryce A. Mander, a postdoctoral fellow at Berkeley and the lead author of the study. His co-authors included researchers from the California Pacific Medical Center in San Francisco; the University of California, San Diego; and the Lawrence Berkeley National Laboratory.


The findings do not imply that medial prefrontal atrophy is the only age-related change causing memory problems, said Matthew P. Walker, a professor of psychology and neuroscience at Berkeley and a co-author of the study.


“Essentially, with age, you lose tissue in this prefrontal area,” Dr. Walker said. “You get less quality deep sleep, and have less opportunity to consolidate new memories.”


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At Fed, Nascent Debate on When to Slow Asset Buying





WASHINGTON — The Federal Reserve has left little doubt about its plans for the next few months, and thus little mystery about the statement it will release Wednesday after the latest meeting of its policy-making committee. The economy remains weak. The Fed will keep buying bonds to hold down borrowing costs.




Inside the central bank, however, debate is once again shifting from whether the Fed should do more to stimulate the economy to when it should start doing less.


Proponents of strong action to reduce unemployment won a series of victories last year, culminating in December when the Fed announced that it would hold short-term interest rates near zero at least until the unemployment rate fell below 6.5 percent. The rate was 7.8 percent in December.


To accelerate that process, the Fed also said it would increase its holdings of Treasury securities and mortgage-backed securities by $85 billion each month until it sees clear signs of strength in the job market.


The Fed is expected to affirm both policies on Wednesday. The Fed’s chairman, Ben S. Bernanke, said this month that the persistence of high unemployment “motivates and justifies” the efforts.


The looming question is how much longer the asset purchases will continue.


The officials who led the push for stronger action have turned to defending the need to continue asset purchases for as long as possible, while those who opposed the policy are pressing for an early end date.


Eric Rosengren, president of the Federal Reserve Bank of Boston, was among the most outspoken advocates for asset purchases last year. In a speech earlier this month, he said that the Fed’s efforts to suppress interest rates were producing clear benefits, increasing sales of homes and cars.


“I consider it imperative that monetary policy continue to actively support the economy at present, since we continue to have an unacceptably high unemployment rate while, at the same time, inflation is undershooting the Federal Reserve’s 2 percent target,” said Mr. Rosengren, who holds a rotating seat this year on the 12-person Federal Open Market Committee.


Critics of the Fed’s efforts initially warned that the purchases would reduce the central bank’s ability to control inflation. Increasingly, they also have emphasized that the purchases could undermine the stability of financial markets.


Esther George, the president of the Federal Reserve Bank of Kansas City, said in a speech this month that the Fed’s efforts to push down interest rates were driving up the price of farmland, junk bonds and other risky investments.


Ms. George, who holds a vote on the policy-making committee this year, said that the eventual sale of the Fed’s holdings also could disrupt markets.


“Like others, I am concerned about the high rate of unemployment, but I recognize that monetary policy, by contributing to financial imbalances and instability, can just as easily aggravate unemployment as heal it,” she said.


Many prominent economists outside the Fed continue to argue that the central bank should be acting even more forcefully to stimulate the economy, but that view has gained little traction inside the central bank.


Narayana Kocherlakota, the president of the Federal Reserve Bank of Minneapolis, is the only official who has publicly endorsed stronger action.


“Monetary policy is currently not accommodative enough,” Mr. Kocherlakota said, noting that unemployment is too high while the pace of inflation is too low — below the 2 percent annual pace that the Fed considers healthy.


Mr. Kocherlakota said the Fed should announce its intention to keep short-term interest rates near zero until the unemployment rate falls below 5.5 percent, rather than the 6.5 percent threshold the central bank adopted in December.


The Fed deliberately left the duration of the asset purchase program as an open question, in contrast to the specific interest-rate threshold.


It said only that it wanted to see “substantial improvement” in the labor market, though officials have made it clear they also expect to suspend asset purchases well before the unemployment rate reaches the 6.5 percent line.


Mr. Bernanke explained at a December news conference that the Fed wanted to retain greater flexibility because asset purchases are a relatively untested strategy.


“We’ll be learning over time about how efficacious they are, about what costs they may carry with them in terms of unintended consequences,” he said.


But the discussion already has begun to swing toward informal thresholds.


Mr. Rosengren said last year that the Fed should certainly continue the purchases until the unemployment rate declines at least below 7.25 percent.


James Bullard, president of the Federal Reserve Bank of St. Louis and another voting member of the committee this year, wrote this month that “there is no simple answer to this question” of when the Fed should stop buying bonds.


Then he provided one, telling CNBC that he expected the unemployment rate to drop to near 7 percent by the end of the year and that it would then be appropriate for the Fed to consider suspending its program of asset purchases.


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