Microsoft defends frayed PC ecosystem with $2 billion Dell loan

SEATTLE/SAN FRANCISCO (Reuters) – Microsoft Corp is playing defense with a $ 2 billion loan to help Dell Inc’s founder buy back the world’s No.3 PC maker as it seeks to shore up support for Windows and beat back the march of Google Inc’s Android.

The investment in the landmark $ 24 billion buyout led by Michael Dell marks the latest step in Microsoft‘s plan to gain more influence over the hardware supply chain – a departure from the decades-old, software-centric philosophy that helped it dominate the computing world but is now increasingly under threat.

It is far from clear, however, if this strategy will be successful, while the world’s largest software maker risks upsetting other computer producers.

“It doesn’t mean it’s a bad move, but it’s definitely defensive. Microsoft is realizing it must be much more engaged in the hardware business than it used to be, it needs to be making bets and forming relationships,” said Andrew Bartels, an analyst at Forrester Research.

The company that built its fortune on making high-priced software to go in other companies’ computers is inching closer to Apple Inc’s belief that software and hardware must be closely integrated for the sake of the user experience.

Microsoft struck a deal to pay Nokia to make phones running Windows software in 2011 and a year later invested in Barnes & Noble‘s Nook e-reader. It then launched its own computer, the Surface tablet, in October, which rankled some PC makers initially.

In the face of declining PC sales and the onslaught of Apple‘s iPad, “Microsoft has taken more unconventional measures than they would have in the past,” said Sid Parakh, an analyst at investment firm McAdams Wright Ragen.

This time, Microsoft made extra efforts not to alienate its other PC makers, talking to them before inking the deal, said sources familiar with Microsoft‘s relations with its partners, and holding off from an ownership stake.

“Microsoft reached out (at the highest levels) a bit before all of it came out,” one of the people said. “There were multiple conversations. Clearly they put some thought into it and definitely a schedule was pulled together.”

Even so, world No.1 PC maker Hewlett-Packard Co (HP) issued a statement critical of the deal.

Dell “faces an extended period of uncertainty and transition that will not be good for its customers,” HP said, adding that Dell’s ability to invest in products and services will be extremely limited with its debt load.

Lenovo Group Ltd said it remains focused on products and customers rather than “distracting financial maneuvers and major strategic shifts.”

Microsoft, advised by Lazard Ltd, declined to comment on the terms of the Dell loan, or what exactly it gets in return, but made it clear it would look for “opportunities to support” companies that buy in to Windows, in whatever form. That suggests this may not be its last third-party investment.

Still, there is no guarantee that Microsoft‘s loan will give it any sway over Dell at all. One former Microsoft executive said the deal was pointless.

“I know Michael (Dell), he will continue to run his empire the way he has always done – without any outside influence,” said Joachim Kempin, once Microsoft‘s top executive in charge of its relationships with PC makers, who left the company in 2002.

PLATFORM WARS

Chief Executive Steve Ballmer made it clear last year that he sees Microsoft as a “devices and services” company with an explicit interest in hardware, whoever it is made by.

“Microsoft has every interest to keep such a key player in its ecosystem alive and well,” said Al Hilwa, an analyst at tech research firm IDC. “Dell supplies a large number of Microsoft customers with hardware, and it is important that their confidence is bolstered in the overall Microsoft ecosystem.”

Dell decided last year to focus its tablet strategy on the new Windows 8 operating system, in contrast to rivals such as Samsung, Asus and Lenovo, which are hedging or leading with Google‘s Android system, and HP which said this week it would make a Google Chromebook.

Dell did experiment with Android with its Streak tablet in 2010, but it flopped.

“This investment might help Microsoft influence whether Dell adopts Android or not, that is likely the goal behind this,” said Parakh.

The loan, negotiated by Microsoft‘s Chief Financial Officer Peter Klein, takes the form of a 10-year subordinated note and will pay 7 percent to 8 percent interest, according to sources familiar with the deal.

It is not clear how much sway Microsoft will have on Dell’s strategy, but the two have been close partners for 25 years, and will likely build on that.

“I don’t think Microsoft is going to run Dell at any time or have a dispositive say in what Dell does,” said one source familiar with Microsoft‘s thinking, who asked not to be named. “Microsoft wants to continue to have a strong and ever deepening relationship with Dell and you can take it as the expectation on both sides.”

PCs are clearly in decline, with sales falling last year for the first time in a decade as the popularity of tablets surges.

Some analysts suggest Microsoft got involved in the deal to learn more from Dell about selling to businesses and individuals.

“Dell is one of the best at building hardware and putting an operating system on it,” said Michael Cherry, an analyst at Directions on Microsoft, an independent consultancy.

With the rise of Google trying to sell into enterprises, it should help Microsoft to have some influence over one of the largest IT vendors, said Parakh.

Microsoft has not always been successful in its tech investments.

Its multi-billion dollar bets on cable firms AT&T Inc and Comcast Corp in the late 1990s did not yield success. Its $ 150 million in a struggling Apple in 1997 ended a long-running patent spat between the two companies, but saved Apple and put it on course to eclipse Microsoft financially.

“Apple is the model, and Microsoft can’t become Apple overnight,” said Bartels at Forrester. “But it needs to have really good partners.”

(Additional reporting by Greg Roumeliotis, Poornima Gupta, Nadia Damouni; Editing by Ryan Woo)

Wireless News Headlines – Yahoo! News

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Jillian Michaels: My Son Phoenix Is 'Fiery' Like Me

Mom & Babies
Celebrity Baby Blog

02/04/2013 at 03:00 PM ET

Gregg DeGuire/WireImage

Jillian Michaels‘ son Phoenix is already taking after his mama — just not the expected one!

Although The Biggest Loser trainer expected her baby boy to inherit her partner’s laidback approach to life — Heidi Rhoades delivered their son in May — the 8-month-old’s budding personality is the polar opposite.

“He wants to walk and he gets really pissed about it when he can’t. He gets frustrated,” Michaels, 38, told PEOPLE at the recent TCAs.

“He’s a fiery little sucker, he’s just like me. I’m like, ‘You were supposed to be like Heidi!’ But he’s not. It’s not good, not good.”

Admitting she is “terrified for when he’s a teenager,” Michaels has good reason to be: Recently she spotted her son — who is “crawling aggressively” — putting his electrician skills to the test in the family room.

“He’s into everything, which is kind of a nightmare to be totally honest,” she says. “We have an outlet in the floor in the living room and I caught him eating the outlet on the floor … I was like, ‘Mother of God!’”

Phoenix’s big sister Lukensia, 3, has also been busy keeping her mamas on their toes. “Lu just had her first ski trip and she had a little crush on her teacher, Ollie,” Michaels shares.

“At first I was like, ‘Oh my God, we’re letting our baby go!’ The second day we took her she ran right to him — loves Ollie.”

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Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

___

Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Asian shares drop on euro zone worry, soft U.S. data

TOKYO (Reuters) - Asian shares slid on Tuesday as investors saw opportunities to cash in from recent strong rallies in the face of weak U.S. data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> tumbled 0.8 percent, dragged lower by a steep 1.8 percent fall in Hong Kong shares <.hsi>.

The euro took the brunt of renewed focus on the euro zone problems, having risen 2.3 percent so far this year against the U.S. dollar, up about 5.4 percent against sterling and 1.8 percent higher against the Australian dollar.

The euro eased 0.1 percent to $1.3496, retreating further from Friday's 14-1/2-month peak of $1.3711, ahead of the European Central Bank's policy meeting on Thursday.

The euro's fall helped euro/crosses recover, underpinning such currencies as the Australian dollar against the U.S. unit.

Aussie eased 0.1 percent to $1.0423 after the Reserve Bank of Australia kept its cash rate steady at 3.0 percent, as expected, having just cut in December.

Spain's opposition party on Sunday called for Prime Minister Mariano Rajoy to resign over a corruption scandal, an allegation Rajoy denies, pushing Spanish 10-year bond yields to six-week highs.

In Italy, 10-year Italian government bond yields hit their highest since late December, as chances of former prime minister Silvio Berlusconi regaining power raised worries about Rome's ability to fix its fiscal problems.

"Markets have been increasingly comfortable with European risks over the past few months and are largely not positioned for this increase in political problems. The outcomes in Spain and Italy are far from certain and may represent stumbling blocks for further expansion in risk appetite," Barclays Capital said in a research note.

The yen took a breather, firming from lows against a broad range of currencies.

The dollar was down slightly at 92.31 yen after scaling its highest since May 2010 of 93.185 on Monday, while the euro eased 0.1 percent to 124.61 yen, off its loftiest since April 2010 of 126.97 hit on Friday.

"Markets are broadly undergoing a correction and the euro is definitely facing profit-taking, given the pace of its climb. Worries about the euro zone debt crisis always remain a downside risk for the euro, and could push it lower to $1.32-$1.33," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo. "But the trend is still upward for dollar/yen, cross/yen. The dollar could reach 95 yen by the end of the month."

As long as markets hold out expectations for the Bank of Japan to implement aggressive monetary easing to beat decades of deflation in Japan, the yen will stay pressured. Any correction to the dollar's rise against the yen was also be seen as shallow, with many traders and analysts seeing a firm floor around 87-88 yen.

Relatively positive data from China on Tuesday failed to change the bearish mood, weighed down by a fall in overnight U.S. equities, which have rallied 6 percent so far this year, on discouraging U.S. factory orders and euro zone jitters.

The HSBC services purchasing managers' index rose to a four-month high of 54 in January from December's 51.7, underlining confidence in the world's second-biggest economy, which is expected to grow 8.1 percent this year, off a 13-year low of 7.8 percent hit in 2012.

"The data globally is unquestionably better but the recovery still seems gradual. (China) hit the bottom and they had a bit of a bounce but nothing much else happened. We don't really seem to have preconditions for a much stronger bounce than that (8 percent growth)," said Richard Yetsenga, Head of Global Markets at ANZ Research.

Japan's benchmark Nikkei stock average <.n225> fell 1.3 percent, after scaling a 33-month high on Monday. <.t/>

U.S. stocks slid on Monday, leaving the Standard & Poor's 500 Index <.spx> at its worst day since November after the index rose just 60-odd points away from its all-time intraday high of 1,576.09 on Friday.

(Editing by Eric Meijer)

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U.S. Memo Details Views on Killing Citizens in Al Qaeda

WASHINGTON — Obama administration lawyers have asserted that it would be lawful to kill a United States citizen if “an informed, high-level official” of the government decided that the target was a ranking figure in Al Qaeda who posed “an imminent threat of violent attack against the United States” and if his capture was not feasible, according to a 16-page document made public on Monday.

The unsigned and undated Justice Department “white paper,” obtained by NBC News, is the most detailed analysis yet to come into public view regarding the Obama legal team’s views about the lawfulness of killing, without a trial, an American citizen who executive branch officials decide is an operational leader of Al Qaeda or one of its allies.

The paper is not the classified memorandum in which the Justice Department’s Office of Legal Counsel signed off on the killing of Anwar al-Awlaki, a radical Muslim cleric who was born in New Mexico and who died in an American drone strike in Yemen in September 2011. But its legal analysis — citing a national right to self-defense as well as the laws of war — closely tracks the rationale in that document, as described to The New York Times in October 2011 by people who had read it.

The memo appears to be a briefing paper that was derived from the real legal memorandum in late 2011 and provided to some members of Congress. It does not discuss any specific target and emphasizes that it does not go into the specific thresholds of evidence that are deemed sufficient.

It adopts an elastic definition of an “imminent” threat, saying it is not necessary for a specific attack to be in process when a target is found if the target is generally engaged in terrorist activities aimed at the United States. And it asserts that courts should not play a role in reviewing or restraining such decisions.

The white paper states that “judicial enforcement of such orders would require the court to supervise inherently predictive judgments by the president and his national security advisers as to when and how to use force against a member of an enemy force against which Congress has authorized the use of force.”

It also fills in many blanks in a series of speeches by members of the Obama legal team about the use of force in targeted killings, including remarks by Attorney General Eric H. Holder Jr. at Northwestern’s law school in March. He asserted that the Constitution’s guarantee of “due process” before the government takes a life does not necessarily mean “judicial process” in national security situations, but offered little specific legal analysis.

Hina Shamsi, director of the American Civil Liberties Union’s National Security Project, called the paper “a profoundly disturbing document,” and said: “It’s hard to believe that it was produced in a democracy built on a system of checks and balances. It summarizes in cold legal terms a stunning overreach of executive authority — the claimed power to declare Americans a threat and kill them far from a recognized battlefield and without any judicial involvement.”

The release of the white paper comes as President Obama’s counterterrorism adviser and nominee as C.I.A. director, John O. Brennan, awaits a confirmation hearing before the Senate Intelligence Committee on Thursday. Pressure has been growing on the administration to make public, or at least provide the Intelligence Committees, with more of the secret legal documents.

On Tuesday, eight Democratic and three Republican senators, including some Intelligence Committee members, wrote to Mr. Obama asking for the legal opinions authorizing the killing of Americans. The letter followed one sent by Senator Ron Wyden, Democrat of Oregon, a member of the Intelligence Committee who has long sought access to the legal opinions.

The senators wrote that they needed the legal opinions to judge “whether the president’s power to deliberately kill American citizens is subject to appropriate limitations and safeguards.”

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Popular Windows app emulator Wine coming to Android

Great news for anyone who wants to bring more PC capabilities to their Android smartphone or tablet: The Next Web reports that popular Windows app emulator Wine will soon be coming to Android. According to The Next Web, chief Wine developer Alexandre Julliard has been working on porting the emulator to Google’s (GOOG) open source mobile operating system and started showing off how Wine would work on Android over the weekend in Belgium. Although The Next Web says that the port probably won’t be ready “for some time,” this will definitely be something to follow for Android fans who want to bring their favorite PC apps over to their mobile devices.

[More from BGR: iOS 6.1 untethered jailbreak now available for download, compatible with iPhone 5 and iPad mini]

This article was originally published on BGR.com

Linux/Open Source News Headlines – Yahoo! News

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

Stylewatch
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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Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

___

Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Asian shares advance after U.S. jobs, ISM

TOKYO (Reuters) - Asian shares advanced on Monday, drawing momentum from U.S. data showing some promise of a credible recovery, supported by Federal Reserve's easing plans and solid manufacturing data from Europe and China.

The yen took a break from heavy selling against the U.S. dollar and the euro, but fell to its lowest since August 2008 against the Australian and New Zealand dollars early on Monday on confidence of bold monetary support from the Bank of Japan to overcome the country's stubborn deflation.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.6 percent after posting a weekly gain of 0.7 percent.

"Asian shares are likely to take the cues from the rise in U.S. equities and prices of risk assets are generally expected to face upward pressures," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.

The Dow Jones industrial average <.dji> rose to 14,000 for the first time since October 2007 and the Standard & Poor's 500 Index <.spx> hit its highest point since December of that year.

U.S. data showed on Friday payrolls rose by 157,000 last month, with upward revisions for November and December, while the Institute for Supply Management said its index of national factory activity rose to its highest since April.

China followed with positive news over the weekend, saying growth in its official purchasing managers' index (PMI) for the non-manufacturing sector ticked up in January for the fourth straight monthly rise, confirming the world's second-largest economy was showing a modest recovery.

Resources-reliant Australian shares <.axjo> steadied after jumping 0.9 percent to a 21-month high on Friday. Positive economic news from China, Australia's largest export destination, usually boosts Australian investor sentiment.

South Korean shares <.ks11> were up 0.3 percent while Hong Kong shares <.hsi> added 0.7 percent.

NIKKEI MAY BE PEAKING

Japan's benchmark Nikkei stock average <.n225> rose 0.5 percent after climbing to a fresh 33-month high earlier as the yen declined. The index logged its 12th straight week of increases last week, the longest run of weekly gains since 1959. <.t/>

Nikkei has been moving in tandem with the yen's two-month-long losing streak with investors eyeing the change in the BOJ's top personnel in April for clues on the degree of the bank's reflationary policy.

"The Nikkei may be nearing its peak for now as we may get a specific name of the most likely candidate for the next BOJ governor soon. That may provide an opportunity to close long dollar/yen positions, while a firming yen will then likely spur investors to book profits on Japanese stocks," said Tetsuro Ii, the chief executive of Commons Asset Management.

The dollar eased 0.1 percent to 92.72 yen after scaling its highest since May 2010 of 92.97 on Friday, while the euro fell 0.3 percent to 126.32 yen, still near its loftiest since April 2010 of 126.97 touched on Friday.

In early Monday trade, the yen plunged to its lowest since August 2008 against both the Australian dollar, at 96.78 yen, and against the New Zealand dollar at 78.74 yen.

The euro inched down 0.1 percent to $1.3624, off Friday's 14-1/2-month peak of $1.3711 hit after data showed euro zone factories had their best month in January in nearly a year.

On Friday, the dollar index measured against a basket of key currencies fell to a 4-1/2-month low of 78.918 <.dxy>. The index was up 0.2 percent on Monday.

As economic optimism rose and concerns about the euro zone's debt difficulties eased, investors took on more risk.

Research provider TrimTabs Investment Research said on Saturday investors poured a record $77.4 billion in new cash into stock mutual funds and exchange-traded funds in January, surpassing the previous monthly record of $53.7 billion in February 2000.

In the oil market, tension across the Middle East put Brent crude on track to its biggest weekly gain since mid-November, and U.S. crude rose for an eighth straight week, although it eased 0.2 percent to $97.56 a barrel on Monday.

With the rise in equities on recovering appetite for riskier assets, safe-haven appeal waned, pushing up yields of U.S. Treasury bonds. The U.S. 10-year Treasury yield hit a nine-month high of 2.052 percent in Asia on Monday.

A weekly gauge of sentiment in the Japanese government bond market deteriorated sharply, remaining in negative territory for a fifth straight week as rising global appetite for risk sapped demand for bonds, the latest Reuters poll showed on Monday.

(Editing by Eric Meijer)

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India Ink: 'Lalla Roukh' at the Rose Theater

Richard Termine for The New York Times

Lalla Roukh Marianne Fiset and Emiliano Gonzalez Toro starred in this work presented by Opera Lafayette on Thursday at the Rose Theater.

On Thursday evening Opera Lafayette presented a graceful and witty production of Félicien David’s “Lalla Roukh” at the Rose Theater. This opéra-comique set in Mughal India had fallen into oblivion since its wildly successful premiere in 1862, well ahead of the wave of other French operas like Bizet’s “Pêcheurs de Perles,” Delibes’s “Lakmé” or Meyerbeer’s “Africaine.”

Operas like these, in which the West’s flirtation with distant locales is colored with condescension, can bring on a toothache in the stage director who has to choose between an unreconstructed eye-candy approach or a Splenda version that leaves an aftertaste of postcolonial embarrassment.

Here the director, Bernard Deletré, devised an unusual solution when he brought in an Indian fashion designer, Poonam Bhagat, and the exquisite Kalanidhi dance troupe choreographed by Anuradha Nehru to add vibrant touches of authenticity to the dress and movement of characters who otherwise seem less rooted in South Asia than in commedia dell’arte. The spoken dialogue was edited down to its dramatic essentials and delivered with great clarity by the glowing cast of singers, most of whom were native French speakers. Together with Ryan Brown, who conducted with a fine ear for flow and comic timing, they made a solid case for “Lalla Roukh” as an overlooked gem of more than historical interest.

The heroine is a princess from Delhi who travels to Bukhara to marry its king. On a mountain pass in Kashmir she is waylaid by a silver-tongued poet with whom she falls in love. She arrives at the court determined to throw over the royal match in favor of the penniless poet, but it turns out that he was in fact the king disguised to test Lalla Roukh’s heart.

The opera contains exquisite musical moments, like the ballet in Act I in which the chorus evokes the starry sky reflected in a clear mountain lake with filigree woodwind solos against caressing choral lines. The following ballet of bayadères is carried by lively rhythms on an array of exotic percussion instruments, here joined by the ankle bells of the dancers.

Although David’s Orientalism is never authentic, it is still rich in naturalistic touches. As a young man he spent two years in Cairo and his familiarity with non-Western modes comes through in finely wrought oboe solos, alluring chromatic vocal lines and, in one aria, pizzicato passages meant to imitate the sound of a guzla.

Marianne Fiset sang the title role with a glowing, well-supported soprano that brought out the Jane Austen-like independence and likability of her character. The tenor Emiliano Gonzalez Toro was outstanding as the poet-king Noureddin, bringing a scintillating array of nuances to a character who is by turns comic, regal and wistful. The role of Lalla Roukh’s quick-witted maid, Mirza, was sung by Nathalie Paulin with a honeyed soprano. Mr. Deletré, the director, stepped into the buffoonish role of Baskir, the king’s chamberlain, with conviction and comic abandon.

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