Israel's Lieberman says Palestinian peace accord impossible

JERUSALEM (Reuters) - Israel has no chance of signing a permanent peace accord with the Palestinians and should instead seek a long-term interim deal, the most powerful political partner of Prime Minister Benjamin Netanyahu said on Saturday.

The remarks by Avigdor Lieberman, an ultranationalist whose joint party list with Netanyahu narrowly won a January 22 election while centrist challengers made surprise gains, seemed designed to dampen expectations at home and abroad of fresh peacemaking.

A spring visit to Israel and the Palestinian territories by U.S. President Barack Obama, announced this week, has stirred speculation that foreign pressure for a diplomatic breakthrough could build - though Washington played down that possibility.

In a television interview, ex-foreign minister Lieberman linked the more than two-year-old impasse to pan-Arab political upheaval that has boosted Islamists hostile to the Jewish state.

These include Hamas, rivals of U.S.-backed Palestinian President Mahmoud Abbas, who control the Gaza Strip and spurn coexistence with Israel though they have mooted extended truces.

"Anyone who thinks that in the center of this socio-diplomatic ocean, this tsunami which is jarring the Arab world, it is possible to arrive at the magic solution of a comprehensive peace with the Palestinians does not understand," Lieberman told Israel's Channel Two.

"This is impossible. It is not possible to solve the conflict here. The conflict can be managed and it is important to manage the conflict ... to negotiate on a long-term interim agreement."

Abbas broke off talks in late 2010 in protest at Israel's settlement of the occupied West Bank. He angered Israel and the United States in November by securing a U.N. status upgrade that implicitly recognized Palestinian independence in all the West Bank, East Jerusalem and Gaza.

Israel insists it will keep East Jerusalem and swathes of West Bank settlements under any eventual peace deal. Most world powers consider the settlements illegal because they take up land seized in the 1967 Middle East war.

Lieberman, himself a West Bank settler, said the ball was "in Abu Mazen's (Abbas') court" to revive diplomacy.

Abbas has demanded Israel first freeze all settlement construction. With two decades gone since Palestinians signed their first interim deal with Israel, he has ruled out any new negotiations that do not solemnize Palestinian statehood.

Netanyahu's spokesman Mark Regev noted that Lieberman, in the Channel Two interview, had said he was expressing his own opinion.

Asked how Netanyahu saw peace prospects for an accord with the Palestinians, Regev referred to a speech on Tuesday in which the conservative prime minister said that Israel, while addressing threats by its enemies, "must also pursue secure, stable and realistic peace with our neighbors".

Netanyahu has previously spoken in favor of a Palestinian state, though he has been cagey on its borders and whether he would be prepared to dismantle Israeli settlements.

Lieberman's role in the next coalition government is unclear as he faces trial for corruption. If convicted, he could be barred from the cabinet. Lieberman denies wrongdoing and has said he would like to regain the foreign portfolio, which he surrendered after his indictment was announced last year.

(Writing by Dan Williams; Editing by Stephen Powell)

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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.

"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.

(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)

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Super Bowl blackout was caused by electrical relay

NEW ORLEANS (AP) — The company that supplied electricity to the Super Bowl says the blackout that halted the big game was caused by a device it installed specially to prevent a power failure.

But the utility stopped short of taking all the blame and said Friday that it was looking into whether the electrical relay at fault had a design flaw or a manufacturing defect.

The relay had been installed as part of a project begun in 2011 to upgrade the electrical system serving the Superdome in anticipation of the championship game. The equipment was supposed to guard against problems in the cable that links the power grid with lines that go into the stadium.

"The purpose of it was to provide a newer, more advanced type of protection for the Superdome," Dennis Dawsey, an executive with Entergy Corp., told members of the City Council. Entergy is the parent company of Entergy New Orleans, the city's main electric utility.

Entergy officials said the relay functioned with no problems during January's Sugar Bowl and other earlier events. It has been removed and will be replaced.

All systems at the Superdome are now working, and the stadium was to host a major Mardi Gras event Saturday night, said Doug Thornton, an executive with SMG, the company that manages the stadium for the state.

The relay was installed in a building near the stadium known as "the vault," which receives a line directly from a nearby Entergy substation. Once the line reaches the vault, it splits into two cables that go into the Superdome.

Sunday's power failure cut lights to about half of the stadium, halting play between the Baltimore Ravens and San Francisco 49ers and interrupting the nation's most-watched sporting event for 34 minutes.

Not long after the announcement, the manufacturer of the relay, Chicago-based S&C Electric Co., released a statement saying that the blackout occurred because system operators had put the relay's so-called trip setting too low to allow the device to handle the incoming electric load.

The equipment was owned and installed by Entergy New Orleans.

"If higher settings had been applied, the equipment would not have disconnected the power," said Michael J.S. Edmonds, vice president of strategic solutions for S&C.

In a follow-up statement, Entergy said that tests conducted by S&C and Entergy on the two relays at the Superdome showed that one worked as expected, the other did not.

Entergy spokesman Mike Burns said both relays had the same trip setting.

Entergy's announcement came shortly before company officials went before a committee of the City Council, which is the regulatory body for the company.

During the committee hearing, council member Susan Guidry asked Entergy executives whether they were "fairly certain" that the relay was faulty.

"That is correct," Dawsey said.

However, when asked if the outage was caused by the design or a defect in a part of the equipment, Entergy New Orleans CEO Charles Rice said that had not been determined.

"The equipment did not function properly," Rice said. "At this particular time, based upon our analysis, we cannot say definitively that there was a defect in design. What we do know is that the equipment for some unknown reason, at this particular time, did not react the way that it should have."

Asked if Entergy and SMG still plan to hire a third-party investigator to get to the bottom of the cause, Rice said that possibility remains open.

"We'll work closely with SMG, and if there is a need for a third-party investigation, we will do that," Rice said, adding that Entergy was also working with the relay manufacturer.

Shabab Mehraeen, an assistant professor of electrical engineering at Louisiana State University, said relays are common electrical fixtures in businesses and massive facilities such as the Superdome.

"They are designed to keep a problem they sense from becoming something bigger, like a fire or catastrophic event," he said.

The devices vary in size. Mehraeen, who was not familiar with the relay at the Superdome, said he "wouldn't be surprised if it was bigger than a truck."

The reasons the devices fail are the subject of much academic research into the interaction of relays with the complex electrical systems they regulate.

"It's not unusual for them to have problems," Mehraeen said. "They can be unpredictable, despite national testing standards recommended by manufacturers."

Entergy and SMG had both upgraded lines and equipment in the months leading up to the Super Bowl. Rice said the new gear, with the faulty relay, was installed as part of a $4.2 million upgrade by Entergy that included a new power line dedicated solely to the stadium.

In a separate project, SMG replaced lines coming into the stadium after managers expressed concerns the Superdome might be vulnerable to a power failure like the one that struck Candlestick Park during an NFL game in 2011.

Thornton stressed Friday that the dome was drawing only about two-thirds of its power capacity Super Bowl night. He said typical NFL games in late August or September can draw a little more.

Friday's announcement appeared to absolve Superdome officials of any missteps in the blackout.

City officials had worried that the Super Bowl outage might harm New Orleans' chances of getting another NFL championship game.

But NFL Commissioner Roger Goodell downplayed that possibility, saying the league planned to keep New Orleans in its Super Bowl plans. Mayor Mitch Landrieu said the city intends to bid for the game again in 2018.

___

Associated Press Writer Michael Kunzelman in New Orleans contributed to this report.

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Gun violence plans: What's in the works

STORY HIGHLIGHTS

• Connecticut school massacre prompts a number of proposals in Washington aimed at curbing gun violence


• They include a ban on assault weapons that insiders say has little chance of getting through Congress


• Some bipartisan support for proposals to expand background checks around gun purchases

Washington (CNN) -- December's school massacre in Newtown, Connecticut, has prompted congressional lawmakers and the White House to offer a number of proposals aimed at curbing gun violence.

Here are some of the measures garnering the most attention:

The White House plan

President Barack Obama signed 23 executive actions, which don't require congressional approval, to strengthen existing gun laws and take related steps on mental health and school safety.

He has also called on Congress to reinstate the Clinton-era assault weapons ban that expired in 2004, to restrict ammunition magazines to no more than 10 rounds, and to expand background checks to anyone buying a gun, whether at a store or in a private sale at an auction or convention.

Assault weapons ban revisited

A proposal by Sen. Diane Feinstein, D-California, would not ban ownership of assault weapons outright, but would prohibit new ones from being manufactured, sold or imported. It would also outlaw ammunition magazines that hold more than 10 rounds.

She said the goal is to "dry up the supply of these weapons over time." The measure, along with a companion bill in the House, is opposed by the nation's powerful gun lobby, led by the National Rifle Association.

Cracking down on straw purchases

Vermont Democrat Sen. Patrick Leahy, chairman of the Senate Judiciary Committee, has called for stronger background checks and a crackdown on so-called straw purchases, in which people who can pass background checks buy weapons for others. Leahy has proposed a measure to increase penalties for straw purchasers.

Curbing gun trafficking

A new House bipartisan gun control bill seeks to make gun trafficking a federal crime. It has some bipartisan support and mirrors a measure proposed in the Senate.

House Democratic efforts

A group of House Democrats, who were part of the chamber's Democratic Gun Violence Prevention Task Force, unveiled 15 proposals to address gun violence. The measures largely echoed those previously backed by the White House.

The package is similar to other Democratic measures that would address background checks, ban high capacity magazines, and crack down on gun trafficking.

House Majority Leader Eric Cantor, R-Viginia, told CNN that he supports beefed up background checks for gun sales.

Closing gun show loophole

A group of four senators working behind the scenes on a bipartisan bill to expand background checks on gun sales is making significant progress, according to sources in both parties familiar with their work.

The group includes Sen. Tom Coburn, R-Oklahoma, who has an A rating with the National Rifle Association, and Sen. Joe Manchin, D-West Virginia, a long time advocate of gun rights.

The legislation would effectively require background checks on private gun purchases made with non-licensed gun dealers, according to sources in both parties. That would include closing the so-called gun show loophole.

Political play

House Speaker John Boehner has said he has no plans to bring any measure up for a vote until the Senate acts first.

Republicans oppose any assault weapons ban and rural-state Democrats facing tough re-election fights are unlikely to support it as well, meaning that proposal has little chance of passing Congress.

There is some bipartisan support for expanded background checks, especially to keep guns out of the hands of people with mental illness. A number of lawmakers may also support limiting the size of ammunition magazines.

Some lawmakers have said that various gun proposals may be addressed in separate bills, rather than a comprehensive package, which could more easily be targeted by opponents.

The top Democrat in Congress, Senate Majority Leader Harry Reid of Nevada, has a good rating from gun rights groups and has said he would work to ensure that a variety of proposals are brought to the floor for consideration.

He opposed the 1994 assault weapons ban and has indicated support for expanding background checks but refuses to endorse a new weapons prohibition.

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Community says goodbye to slain teen

CAPTIONS

Hadiya Pendleton wake
Tanique Parker, 16, cries as she leaves the wake for friend and classmate Hadiya Pendleton at Calahan Funeral Home on Chicago's South Side. (Chris Sweda, Chicago Tribune /February 8, 2013)

By Bridget Doyle




Tribune reporter

7:41 p.m. CST, February 8, 2013

Friends and family gathered at Calahan Funeral Home on the South Side this afternoon for the wake of Hadiya Pendleton, the 15-year-old girl whose slaying last week became a national symbol of the gun violence in Chicago.

Hadiya’s body lay in an open casket, dressed in a purple dress embellished with sparkles. The inside of the casket was lined in a soft purple.

Visitors signed in a registry and wrote personal messages to Hadiya on a dedication board. Family gathered in the back of the room, some talking with visitors, others sitting in chairs.

Dozens of bouquets of flowers lined the room and a large photo of Hadiya was hung on display. A small TV played a picture slideshow of Hadiya smiling with family and friends.

John Burdette, a Hyde Park resident, said although he didn't know the Pendleton family, he wanted to pay his condolences.

“It helped put me at ease,” said Burdette, 64. "This poor young lady. Things are nuts out there and it's terrible. I don't leave my house after 4 p.m.”

Media trucks and police cars lined Halsted Street outside the funeral home, as Hadiya's death has garnered much attention on both a local and national scale.

The wake is scheduled from 2 to 9 p.m. Friday with the funeral to follow Saturday morning. First lady Michelle Obama is scheduled to attend.bdoyle@tribune.com

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China, Japan engage in new invective over disputed isles

BEIJING (Reuters) - China and Japan engaged on Friday in a fresh round of invective over military movements near a disputed group of uninhabited islands, fuelling tension that for months has bedeviled relations between the Asian powers.

An increasingly muscular China has been repeatedly at odds with others in the region over rival claims to small clusters of islands, most recently with fellow economic giant Japan which accused a Chinese navy vessel of locking radar normally used to aim weapons on a Japanese naval ship in the East China Sea.

China's Defence Ministry rejected Japan's complaint about the radar, its first comment on the January 30 incident. It said Japan's intrusive tracking of Chinese vessels was the "root cause" of the renewed tension.

A Japanese official dismissed the Chinese explanation for incident saying China's actions could be dangerous in the waters around the islets, known as Diaoyu in China and Senkaku in Japan, believed to be rich in oil and gas.

Japanese Prime Minister Shinzo Abe led his conservative party to a landslide election victory in December, promising to beef up the military and stand tough in territorial disputes.

On Thursday, another border problem was brought into focus when Japan said two Russian fighter jets briefly entered its air space near long-disputed northern islands, prompting Japan to scramble combat fighters. Russia denied the accusation.

The commander of U.S. forces in the Asia-Pacific said the squabble between Japan and China underlined the pressing need for rules to prevent such incidents turning into serious conflict.

"What we need in the South China Sea is a mechanism that prevents us turning our diplomacy over to young majors and young (naval) commanders ... to make decisions at sea that cause a problem (that escalates) into a military conflict that we might not be able to control," Admiral Samuel Locklear told a conference in the Indonesian capital.

China is in dispute with several Southeast Asian countries including the Philippines and Vietnam over parts of the South China Sea, which is potentially rich in natural resources.

Locklear said governments and their leaders had to understand the potential for things to get out of hand.

"In this case, I think that point has been made pretty clear," he said in reference to international reaction to the dispute between China and Japan.

"IRRESPONSIBLE"

China's Defence Ministry, in a faxed statement late on Thursday, said Japan's complaints did not "match the facts". The Chinese ship's radar, it said, had maintained regular alerting operations and the ship "did not use fire control radar".

The ministry said the Chinese ship was tracked by a Japanese destroyer during routine training exercises. Fire control radar pinpoints the location of a target for missiles or shells and its use can be considered a step short of actual firing.

Japan, the ministry said, had "made irresponsible remarks that hyped up a so-called China threat, recklessly created tension and misled international public opinion".

"Japanese warships and airplanes have often conducted long periods of close-range tracking and surveillance of China's naval ships and airplanes," the Chinese Defence Ministry said.

"This is the root cause of air and maritime security issues between China and Japan."

In Tokyo, Japan's Chief Cabinet Secretary Yoshihide Suga told a news conference Japan could not accept China's explanation and Japan's accusation came after careful analysis.

"We urge China to take sincere measures to prevent dangerous actions which could cause a contingency situation," Suga said.

Japanese Defence Minister Itsunori Onodera said this week that the radar incident could have become very dangerous very quickly, and it could have been seen as a threat of military force under U.N. rules.

Hopes had been rising recently for an easing of the tension, which was sparked, in part, by Japan's nationalization of three of the privately owned islets last September.

Fears that encounters between aircraft and ships could bring an unintended clash have given impetus to efforts to improve links, including a possible summit between Abe and Chinese leader Xi Jinping, who takes over as head of state in March.

(Additional reporting by Linda Sieg in TOKYO, Joathan Thatcher in JAKARTA; Editing by Ron Popeski and Robert Birsel)

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Wall Street ends lower on renewed euro zone fears

NEW YORK (Reuters) - Stocks declined on Thursday, taking a step back from their recent advance, prompted by comments by the ECB president on the euro and Europe's outlook.

The euro currency dropped against the safe-haven dollar and yen, spurring a retreat from risky assets such as stocks, after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability. Investors took that as a sign the bank is concerned about the euro's advance and its effect on the region's economy.

Growth sectors were among the weakest performers on the S&P 500: the S&P 500 materials index <.splrcma> was down 0.6 percent while the S&P energy index <.spny> was down 0.5 percent. Housing stocks also declined, with a housing sector index <.hgx> off 1.4 percent.

Despite the day's decline and weakness earlier this week, the stock market has been in an almost uninterrupted up trend for most of the year, with the S&P 500 up 5.8 percent so far for 2013.

Many analysts say some weakness at this point is no surprise.

"Given the amount the market moved in January, having a little bit of a pullback and some consolidation where the market goes sideways for a little while, we think would be a healthy sign," said Eric Marshall, director of research at Hodges Capital Management in Dallas.

Top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.

The Dow Jones industrial average <.dji> was down 42.47 points, or 0.30 percent, at 13,944.05. The Standard & Poor's 500 Index <.spx> was down 2.73 points, or 0.18 percent, at 1,509.39. The Nasdaq Composite Index <.ixic> was down 3.34 points, or 0.11 percent, at 3,165.13.

Shares of Apple helped to limit losses on the Nasdaq, the stock ending up 3 percent at $468.22. Fund manager David Einhorn's Greenlight Capital said it has sued Apple Inc and said the company needs to do more to unlock value for shareholders.

Though the earnings season is winding down, results continue to boost growth estimates for the fourth quarter. According to Thomson Reuters data through Thursday morning, of 317 companies in the S&P 500 that have reported earnings, 69 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies rose 5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Akamai Technologies Inc lost 15.2 percent to $35.26 as the worst percentage performer on the S&P 500 after the Internet content delivery company forecast current-quarter revenue below analysts' expectations.

Among retailers, Macy's Inc rose 2 percent to $40.27 after reporting January same store sales rose 11.7 percent.

But Ann Inc dropped 8 percent to $30.20 after forecasting fourth-quarter sales below analysts' expectations.

Economic data was mixed. Initial jobless claims dipped last week, with the four-week moving average falling to its lowest level since March 2008, signaling the economy continues to recover slowly.

A separate report said fourth-quarter productivity registered its biggest drop in nearly two years, while unit labor costs jumped 4.5 percent, more than economists expected.

Roughly 6.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Decliners outpaced advancers on the NYSE by nearly 4 to 3 and on the Nasdaq by about 5 to 3.

(Additional reporting by Angela Moon; Editing by Kenneth Barry and Nick Zieminski)

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No. 16 UNC women beat BC for Hatchell's 900th win

BOSTON (AP) — North Carolina coach Sylvia Hatchell earned her 900th career victory when the No. 16 Tar Heels beat Boston College 80-52 on Thursday night.

Xylina McDaniel had 15 points and seven rebounds for North Carolina (21-3, 9-2 Atlantic Coast Conference). The Tar Heels lost to No. 5 Duke on Sunday — their first home loss of the season — spoiling Hatchell's first chance to become the third women's coach in NCAA history to reach the milestone.

Hatchell joins Pat Summitt and Jody Conradt in the women's 900-win club. Hatchell is tops among active coaches, with Rutgers' C. Vivian Stringer two wins behind.

Only three men's coaches have reached the 900-win mark — Mike Krzyzewski, Jim Boeheim and Bob Knight.

Nicole Boudreau scored 16 points and Kristen Doherty added 13 with seven rebounds for Boston College (9-13, 3-8), which has lost six of its last seven games.

BC stayed close for about eight minutes before the Tar Heels went on a 15-2 run to turn a two-point lead into a double-digit advantage.

As the Tar Heels reserves dribbled out the last 10 seconds, Hatchell's assistant leaned over to give her a peck on the cheek and the referee leaned over toward the bench to say something. A handful of Carolina blue-clad fans in the sparse crowd stood to cheer when the public address announcer recognized the milestone.

Hatchell, 60, is 900-317 in 38 seasons, including a 628-237 record and the 1994 NCAA championship in 27 years at North Carolina. She was 272-80 in 11 seasons at Francis Marion.

Tierra Ruffin-Pratt scored 14 with six rebounds and six assists and Krista Gross had 12 points and eight rebounds for Carolina, which beat Boston College 77-46 last year but needed a last-second tip-in to beat BC the last time the teams met in Chestnut Hill, in 2011.

The Tar Heels led by as many as 17 points late in the first half, then used a 15-4 run early in the second to open a 27-point lead. They scored seven in a row to make it a 64-32 game with about 11 minutes left.

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Attorney: Poisoned lottery winner changed finances to benefit wife

Weeks before he died mysteriously from cyanide poisoning after winning a $1 million lottery jackpot, a North Side businessman inked a deal with his business partner to ensure that his share of several dry cleaning stores went to his wife in the event of his death.

The unusual agreement is sure to fuel the fight among heirs of Urooj Khan over his estate, once estimated at about $2 million.

The agreement means that Khan’s widow, Shabana Ansari, owns half of the dry cleaning business and its real estate, instead of those assets being divided among heirs in probate court, according to Ansari’s lawyer, Al-Haroon Husain.

Those business assets are worth more than $1 million, leaving only about $680,000 – including the $425,000 in lottery winnings -- to be split among Khan’s heirs, Husain contends.

“It’s a bit unusual,” Husain said of the agreement following a hearing Thursday in the Daley Center courthouse. “I just think he wanted to make sure his wife had a business and had attachment to the commercial property if something happened to him.”

Khan and his partner, Shakir Mohammed, a childhood friend from their native India, signed the agreement early last May, according to court documents. Khan, 46, won the lottery prize later in May and died suddenly in mid-July before he collected the check.

Husain said he didn’t believe Khan “thought he’d be passing away so soon thereafter.”

In addition to the business agreement, Khan had signed a real estate contract with his wife that entitles her to sole ownership of their Rogers Park home, which is valued at almost half a million dollars, Husain said.

Based on those changes, Husain filed amended papers Thursday in court, drastically lowering the value of Khan’s estate to the $680,000 figure, down from about $2 million a few weeks ago.

Khan's family has been fighting in probate court over his estate since his unexpected death at 46. His brother, Imtiaz, raised concerns that since Khan left no will, his 17-year-old daughter from a previous marriage would not get "her fair share" of the inheritance. Khan and Ansari did not have children together.

As the Tribune first revealed last month, the Cook County medical examiner's office initially ruled that Khan died from hardening of the arteries after no signs of trauma were found on his body and a preliminary blood test did not raise any questions.

But the investigation was reopened about a week later after a relative raised concerns that Khan may have been poisoned.
 
Chicago police became involved in September after further testing found cyanide in Khan's blood. By late November, more comprehensive testing showed lethal levels of the toxic chemical, leading the medical examiner's office to declare his death a homicide.
 
Last month authorities exhumed Khan's body in order to perform an autopsy and gather additional evidence for the homicide investigation. No results have been made public yet.
 
While a motive for Khan’s homicide has not been determined, police have not ruled out that he was killed because of his lottery win, a law enforcement source has told the Tribune.

Ansari has been questioned by Chicago police detectives in her husband’s death, but she has denied any wrongdoing.

jmeisner@tribune.com
jgorner@tribune.com

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Wall Street ends flat as investors pull back

NEW YORK (Reuters) - Stocks ended mostly flat on Wednesday, taking another pause in the recent rally that has driven the S&P 500 to five-year highs, as transportation and technology shares lost ground.

Transportation stocks were among the worst performers. Shares of CH Robinson Worldwide fell 9.7 percent to $60.50 and the stock was the biggest percentage loser on the Nasdaq 100 after the freight transport company posted a lower-than-expected adjusted quarterly profit.

Without a strong catalyst, the market could struggle to continue its rally, analysts said. The benchmark S&P 500 index has advanced 6 percent this year, reaching its highest since December 2007, while the Dow Jones industrial average <.dji> has risen above 14,000 recently.

Bank of America-Merrill Lynch analysts see a near-term pullback likely, based on strong equity inflows at the start of the year, said Dan Suzuki, the bank's equity strategist in New York.

"The fact that we've gone since November without seeing one, from a timing perspective, it wouldn't be a surprise to see one now."

With fourth-quarter earnings nearing an end, the market will be losing one of its big supports, said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago. "That's one thing that's been holding the market up," he said.

Shares of Time Warner Inc jumped 4.1 percent to $52.01 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.

The Dow Jones industrial average <.dji> was up 7.22 points, or 0.05 percent, at 13,986.52. The Standard & Poor's 500 Index <.spx> was up 0.83 points, or 0.05 percent, at 1,512.12. The Nasdaq Composite Index <.ixic> was down 3.10 points, or 0.10 percent, at 3,168.48.

Amazon.com shares, down 1.7 percent at $262.22, led the decline on the Nasdaq.

Also causing some strain on the market, investors have been speculating about leadership changes in Spain and Italy and watching for comments from European leaders, analysts said. European Central Bank policymakers are due to meet Thursday.

The Dow Jones Transportation average <.djt> was down 0.2 percent after hitting another record high on Tuesday. The average is up 10.7 percent for the year so far and has made a series of new highs since mid-January.

According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

Walt Disney Co's stock was up 0.4 percent at $54.52, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.

Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by roughly 17 to 12 and on the Nasdaq by about 13 to 11.

(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)

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