As U.S. momentum stocks take beating, some sectors benefit

Traders work on the floor of the New York Stock ExchangeBy Ryan Vlastelica and David Gaffen NEW YORK (Reuters) – Investors in some of the past year's hottest U.S. stocks have been given a savage lesson in the risks of so-called "momentum trading". A group of 24 such companies compiled by Credit Suisse has lost $63 billion in market value, or almost 19 percent, so far in March. One of them, streaming video service Netflix, has declined on 15 of the last 17 trading days, while another, online travel service Priceline, is on pace to for its worst month in nearly two years, while Twitter on Wednesday sank below its November first-day closing price for the first time since December, when the company had publicly traded for less than a month. The sell off may well have further to go, investors warn.

Banish the Diet

For health reasons, we should all abandon the word “diet. … The sad news is that only 20% of people who attempt a diet lose weight and maintain the … They drastically restrict calories; eliminate food groups; reduce the amount of …

GSK lifts emerging market bet with full control of Indonesia arm

The logo of GlaxoSmithKline is seen on its office building in ShanghaiGlaxoSmithKline is betting more on Indonesia by taking full control of its consumer healthcare unit in the country, underscoring a drive by the drugmaker to build up its presence in fast-growing emerging markets. GSK has paid 465 billion rupiahs ($40 million) to Sarasvati Venture Capital for the 30 percent of the Indonesian consumer healthcare operation it did not previously own, giving it 100 percent of a business that sells non-prescription products like Panadol painkillers and Sensodyne toothpaste. At the same time, GSK has sold its non-core local Insto eye drops brand to Pharma Healthcare and agreed to divest its factory at Bogor, Indonesia, to PT Pharma Healthcare for a combined total of 133 billion rupiahs. "This transaction is a further example of GSK focusing its business in strategically important growth markets such as Indonesia.

North Korea envoy tells U.N. rights forum ‘mind your own business’

North Korea's ambassador to the U.N. So Se Pyong addresses session of Human Rights Council on report of Commission of Inquiry on Human Rights in North Korea in GenevaNorth Korea's ambassador told the United Nations Human Rights Council on Friday to "mind your own business" during a debate on crimes against humanity documented in his country by U.N. investigators. So Se Pyong, North Korea's ambassador to the U.N. in Geneva, speaking in response to unprecedented criticism of its human rights record, also said that "cooperation can never be compatible with confrontation".

Rescue of Rio slums shaky on failed promise of basic services

Soccer square in bad condition is seen at the Cantagalo slum in Rio de JaneiroBy Paulo Prada RIO DE JANEIRO (Reuters) – In the three years since hundreds of police stormed the hills that her family calls home, Caroline Oliveira has been waiting for things to get better. True, the drug gangs that once controlled her Rio de Janeiro neighborhood are less dominant than they once were. As for the promise of nearby schools and health services, she will believe it when she sees it. "Not much has changed," says the 20-year-old mother of two, who has spent recent weeks seeking donations with neighbors to set up a community day-care center in their small corner of the Complexo do Alemão, a vast series of bare-brick shacks, open sewers and garbage heaps just north of central Rio.

Fukushima worker killed in accident, cleanup halted

A banner that reads "Fukushima" is placed in front of a giant symbolic Japan's national flag to mark the third year anniversary of the March 11, 2011 earthquake and tsunami, at the European Parliament in StrasbourgBy Mari Saito TOKYO (Reuters) – A worker at Japan's wrecked Fukushima nuclear plant died on Friday after being buried under gravel while digging a ditch, prompting the operator to suspend cleanup work for safety checks. Tokyo Electric Power Co said it was the first time a laborer had died as a direct result of an accident inside the plant since the nuclear disaster in March 2011, the world's worst since Chernobyl in 1986. "In the three years since the disaster, we had not had any worker deaths caused by work (inside the plant). The fact that such a serious accident has occurred is deeply regrettable," said Tepco spokesman Masayuki Ono.

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