Japan stocks rally, yen resumes fall after G20

TOKYO (Reuters) - Japanese shares jumped closer to a four-year high as the yen slumped on Monday after Tokyo dodged direct criticism from G20 peers on the aggressive reflation plans that have weakened the currency.

The G20 opted not to single out Tokyo, but committed members to refrain from competitive devaluations and said monetary policy would be directed only at price stability and growth. Japan said this decision is a green light to pursue its expansionary policies.

The dollar soared 0.7 percent to 94.17 yen inching closer to its highest since May 2010 of 94.465 hit on February 11. The euro added 0.3 percent to 125.51 yen, still below its peak since April 2010 of 127.71 yen touched on February 6.

The Nikkei average <.n225> jumped 2.3 percent as exporters and banks led the pack on the softening yen. <.t/>

The market's focus is now on Prime Minister Shinzo Abe's nominee for the next Bank of Japan governor. Abe is expected to announce his choice in coming days.

Sources told Reuters that former top financial bureaucrat Toshiro Muto is leading the field of candidates to govern the bank. He is expected to intensify stimulus efforts to energize the economy.

"The G20's message is that monetary easing is OK, but not to imply anything about leading a currency weaker. The G20 effect is already seen in Abe's general comments on forex today which steered away from giving specifics on a preferred level or direction for the yen," said Yunosuke Ikeda, a senior FX strategist at Nomura Securities.

Abe said on Monday that the BOJ's monetary easing is aimed at beating deflation, not at manipulating the forex market and weakening the yen, and said correcting excessive yen rises would be an appropriate policy direction. Previously, Japanese officials have noted that the current yen selling was a correction to the past excessive yen strength.

The yen's weakness weighed on emerging Asian currencies while South Korean shares <.ks11> eased 0.3 percent on concerns about the eroding competitive edge for the country's exporters.

"Japan will keep seeking the current policy. The rest of Asia will not just wait and see. That will put more pressure on Asian currencies," said Yuna Park, a currency and bond analyst at Dongbu Securities in Seoul.

A weaker yen would make other currencies relatively stronger against the dollar and fuel speculation that other Asian countries could step in to curb the strength of their currencies, Ikeda said.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.2 percent. The pan-Asian index briefly hit a 18-1/2-month high on Friday and had its best performance since the week of January 6 with a 1.2 percent weekly gain.

On Friday, MSCI's all-country world index <.miwd00000pus>, a measure of global equity activity, traded down 0.26 percent, while European shares closed lower and U.S. stocks ended flat.

Australian shares rose 0.5 percent as miners gained on hopes that top customer China might start buying after the Lunar New Year holidays, while blue chips Commonwealth Bank of Australia and Telstra Corp Ltd dropped after trading ex-dividend.

Markets in China and Taiwan resumed trading after a week-long holiday.

STOCKS CONSOLIDATE

Data from EPFR Global on Friday underscored that a consolidation was underway in global equities after their recent rally. It showed investors worldwide pulled $3.62 billion from U.S. stock funds in the latest week, the most in ten weeks after taking a neutral stance the prior week. But demand for emerging market equities remained strong, with investors putting $1.81 billion in new cash into stock funds, the fund-tracking firm said.

Demand for commodities will likely be in focus as China returns to the market.

Investors are also expected to focus on fiscal talks in Washington, where policymakers are discussing a package of budget cuts set to kick in on March 1. Analysts say the austerity measures could hurt the U.S. economy.

U.S. crude fell 0.2 percent to $95.63 a barrel but Brent inched up 0.1 percent to $117.81.

Gold rebounded from a six-month low on Monday as bargain hunters resurfaced and jewelers in China returned to the physical market after the Lunar New Year holiday, but a firm U.S. dollar was likely to limit the upside.

(The story corrects Nikkei near 4-year high, not 33-month, in bullet and lead paragraph.)

(Additional reporting by Jongwoo Cheon; in Singapore; Editing by Shri Navaratnam and Eric Meijer)

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India Ink: Modern in Mumbai

Cecilia Morelli Parikh is still a woman on a mission. Nearly two years ago, with Julie Leymarie and Aurélie de Limelette, she opened Le Mill, a multibrand fashion and home store, in a converted warehouse in a gritty section of Mumbai, India, which brought a contemporary Western aesthetic to an affluent Indian shopper. Last November, Morelli Parikh and her co-founders (Leymarie is a former L’Oréal executive; de Limelette has designed numerous displays for Hermès) rolled out a second store, this one in the city’s decidedly fancier Breach Candy area. Morelli Parikh describes the first store’s location as the equivalent of New York’s “meatpacking district, 30 years ago,” while the new store’s surroundings are “the Upper East Side.”

At 1,900 square feet, the second Le Mill is much smaller than the 15,000-square-foot flagship store (which, as of next month, will carry only home products, including the store’s own furniture and tabletop lines, designed by de Limelette, as well as European brands like Carl Hansen & Son, Gervasoni and Gubi). In contrast to the flagship’s industrial look — the name Le Mill refers to the building’s early life as a rice mill — the new store is “more polished,” Morelli Parikh says. The entry floor is painted in a gray and white abstract geometric pattern; the cashier’s desk is a shipping container painted glossy white. It’s the perfect backdrop for the store’s sharply focused fashion offerings — from contemporary labels like 3.1 Phillip Lim, Alexander Wang, Erdem and the Row — as well as jewelry by Mawi, En Inde, Shourouk and Tom Binns, among others, and gift items and tableware.

This spare but sensual look — in design as well as fashion — is what Morelli Parikh and her co-founders want to bring to the Indian luxury goods market, which still lags well behind that of, say, China. It wasn’t that long ago that Indian women began to abandon traditional dress for Western fashion, and even then they often chose flashy over fashion-forward. Add India’s high import duties and the fact that affluent Indians, who travel frequently, prefer to shop in London, Dubai and New York, and the women behind Le Mill had their work cut out for them.

But none of this fazes the American-born, London-raised Morelli Parikh, who, after working at Bergdorf Goodman, married Rohan Parikh — who runs the real estate and construction branch of his family’s shipping company, Apurva Natvar Parikh Group, or A.N.P.G. — and settled in Mumbai two years ago. She noticed a lack of multibrand stores, and realized that while many Western fashion and home products are made in India, with its traditions of craftsmanship, those goods — and their contemporary aesthetic — were generally not available there. So she, Leymarie and de Limelette set about “bringing that heritage into the 21st century,” away from heavy and ornate toward a lighter, more modern take on tradition.

It is no surprise that the apartment that Morelli Parikh and her husband share, in an Art Deco building on Marine Road (which has one of the largest concentration of Art Deco buildings in the world), embodies her “more natural, raw, delicate” outlook. The 2,400-square-foot space’s monochromatic restraint is leavened by contemporary Indian artworks and luxurious touches like the master bedroom’s inlaid marble floor. The furnishings are a mix of de Limelette’s understated pieces for Le Mill, Western classics like a Carl Hansen & Son lounge chair and contemporary works like dining chairs by BDDW in New York (available by special order at Le Mill). The look is comfortable and stylish, but modern.

And that is exactly the direction that Morelli Parikh is taking with Le Mill’s second store. Now that younger, less mainstream designers have proven to be successful, Le Mill has introduced fashion from what Morelli Parikh calls “even edgier” labels like Peter Pilotto and Mary Katrantzou. Still, Morelli Parikh explains that there’s a market for more classic clothing, so this month Joseph will join the store’s designer roster. But its biggest move to date will be the addition of Azzedine Alaïa in March. Morelli Parikh explains that the designer already has a following among the store’s core customers, about 50 women who represent a good 60 percent of Le Mill’s ready-to-wear business. “Alaïa is sexy, but it’s so chic,” she says.

Le Mill is forging ahead with plans to open stores in other prosperous Indian cities, like Delhi and Bangalore, and an e-commerce site will make its debut next month: “There is lots of wealth in third- and fourth-tier cities where there are no shops,” Morelli Parikh says. Being a tastemaker in a brave new world is “incredibly challenging,” she adds, “but really fun.”

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Intel Israel more than doubles exports, mulls new investment

TEL AVIV (Reuters) – Intel‘s Israeli subsidiary more than doubled its exports in 2012 to $ 4.6 billion and is seeking to bring manufacturing of the company’s next generation of chips to Israel.

Intel’s exports, which rose 109 percent from $ 2.2 billion in 2011, were boosted by the start of production of chips using 22 nanometer technology at its Kiryat Gat plant in southern Israel, which is now operating at full capacity.

Intel, the world’s No. 1 chipmaker, will build chips over the next two to three years with features measuring just 14 nm in Ireland and the United States but the company is already thinking about where it will produce 10 nm chips. The narrower the features, the more transistors can fit on a single chip, improving performance.

Intel Israel executives said they would like to see 10 nm production in Israel.

“The average life of a technology is two to six years so we need to be busy to get the next technology, 10 nanometer,” Maxine Fassberg, general manager of Intel Israel, told a news conference on Sunday. “We need to get a decision far enough in advance to be able to upgrade the plant. So for 10 nanometer, decisions will need to be made this year.”

Fassberg said upgrading the existing Fab 28 plant in Israel would require a lower investment than building a new plant but would still involve several billion dollars.

Intel Israel has in the past received government grants to help with the costs of its investments and Fassberg told Reuters the company was “constantly in talks with the government”.

Intel has invested $ 10.5 billion in Israel in the past decade, including $ 1.1 billion in 2012, and has received $ 1.3 billion in government grants.

The company accounted for 20 percent of Israel’s high-tech exports last year and 10 percent of its industrial exports, excluding diamonds.

“If Intel had not increased its exports, Israel’s high-tech exports would have shrunk by 10 percent,” Intel Israel President Mooly Eden said.

Most of Intel Israel’s exports – $ 3.5 billion – came from its chip manufacturing activities.

Intel is Israel’s largest private employer, with 8,542 workers, up 10 percent from 2011. The company has two plants – in Jerusalem and Kiryat Gat – as well as four research and development centers.

Eden said Intel was also committed to investing in start-ups, having invested in 64 Israeli companies since 1996. In July its global investment arm Intel Capital said it would expand its operations in Israel.

(Reporting by Tova Cohen; Editing by Helen Massy-Beresford)

Tech News Headlines – Yahoo! News

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Beyoncé's Life Is But a Dream: The Best Moments

TV Watch

By Aaron Parsley

02/16/2013 at 11:05 PM EST

I am ... still singing!

Beyoncé's HBO documentary, Life Is But a Dream, aired Saturday night and it was a 90-minute whirlwind of music, dance and emotion. And though the singer, 31, has been everywhere recently (the Inauguration, the Super Bowl halftime show, Oprah's Next Chapter), the film was full of new and exciting moments. Here are my favorites:

Baby Bey: A home movie of Beyoncé as a little girl playing with bees made my jaw drop. The scene seems to prove what her fans believe: that she was born to be a superstar known as Queen B. I also loved seeing her singing – and being a typical, giggling teenager – with her sister Solange and Kelly Rowland.

The Heartbreak: From her frank discussion of firing her father as a manager to hearing "the saddest song" she's ever written after having miscarriage, the film – which Beyoncé produced and directed herself – had raw, emotional moments.

Mrs. Carter: Life is like a dream for Beyoncé and husband Jay-Z, who surprisingly shared intimate moments together – giddy over her pregnancy, singing Coldplay's "Yellow" to each other, enjoying solitude on a boat in an undisclosed, exotic location. You could feel the love when she toasted him on his birthday.

Blue Ivy: How cute is she?! When Beyoncé and Jay's baby girl, who turned 1 in January, appeared on the screen at the premiere of Life Is But a Dream at New York's Ziegfeld Theater, the crowd gasped and then let out a collective "aww." And I jammed my fingers on the TV screen the first time I watched, trying to pinch those cheeks. Seeing Beyoncé at home with a baby on her hip was a powerful reminder that the fierce superstar is human afterall.

The Music: Of course! Seeing her sing "Listen" with a gorgeously altered ending in a car convinced me of one thing: Beyoncé is definitely not human! I also loved seeing everything that went into her epic Billboard Music Awards performance of "Run the World (Girls)." I just wish I could do that dance. And is it me or does "Resentment" get grittier and angrier every time she performs it?

Praise Beysus and long live the Queen B!

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UN warns risk of hepatitis E in S. Sudan grows

GENEVA (AP) — The United Nations says an outbreak of hepatitis E has killed 111 refugees in camps in South Sudan since July, and has become endemic in the region.

U.N. refugee agency spokesman Adrian Edwards says the influx of people to the camps from neighboring Sudan is believed to be one of the factors in the rapid spread of the contagious, life-threatening inflammatory viral disease of the liver.

Edwards said Friday that the camps have been hit by 6,017 cases of hepatitis E, which is spread through contaminated food and water.

He says the largest number of cases and suspected cases is in the Yusuf Batil camp in Upper Nile state, which houses 37,229 refugees fleeing fighting between rebels and the Sudanese government.

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After decent rally, perhaps time for a pause

NEW YORK (Reuters) - Stocks could struggle to extend their seven-week winning streak as the quarterly earnings period draws to a close and the market bumps into strong technical resistance.

Many analysts say the market could spend the next few weeks consolidating gains that have lifted the benchmark Standard & Poor's 500 <.spx> by 6.6 percent since the start of the year.

The S&P 500 ended up 0.1 percent for the week, recovering from a late sell-off on Friday after a Bloomberg report about slow February sales at Wal-Mart triggered a slide in the retailer's shares. It was the index's seventh week of gains.

Odds of a pullback are increasing, with the market in slightly overbought territory, said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

"I do suspect the closing of the earnings season will lead to at least a pause and possibly a pullback," Zaro said. The S&P 500 could shave 3 to 5 percent between now and early April, he said.

Fourth-quarter earnings have mostly beaten expectations. Year-over-year profit growth for S&P 500 companies is now estimated at 5.6 percent, up from a January 1 forecast for 2.9 percent growth, and 70 percent of companies are exceeding analyst profit expectations, above the 62 percent long-term average, according to Thomson Reuters data.

On Thursday, Wal-Mart, the world's largest retailer, is due to report results, unofficially closing out the earnings period. Investors will be keen to see its quarterly numbers, especially after the Friday's news report that rattled investors.

The S&P 500 has gained 4.3 percent since Alcoa kicked off the earnings season on January 8.

The approaching March 1 deadline for across-the-board federal budget cuts unless Congress reaches a compromise adds another reason for caution, especially with recent economic data indicating the recovery remains bumpy.

Manufacturing output fell 0.4 percent last month, the Federal Reserve said on Friday, but production in November and December was much stronger than previously thought.

TESTING RESISTANCE

The S&P 500 has been trading near five-year highs, and it notched its highest level since November 2007 this week. But the gains have pushed the benchmark index almost as far as it is likely to go in the near term, with strong resistance hovering around 1,525 and 1,540, one analyst said.

As a result, the index is set to move sideways, said Dave Chojnacki, market technician at Street One Financial in Huntington Valley, Pennsylvania. "We just don't have the volume or the catalyst right now" to go above those levels, he said.

At the same time, other analysts say, the market has not shown significant signs of slowing, including a break below 15- and 30-day moving averages.

Such moves would be needed to show that momentum is slowing or that the market is at risk of a correction, said Todd Salamone, director of research for Schaeffer's Investment Research in Cincinnati, Ohio. The S&P 500's 14-day moving average is at 1,511 while the 30-day is at 1,494. The index closed Friday at 1,519.

Recent M&A activity, including news this week of a merger between American Airlines and US Airways Group , helped provide some strength for the market this week and optimism that more deals may be on the way.

In the coming days, the market will focus on minutes from the latest Federal Reserve meeting, due to be released on Wednesday, which could provide support if they suggest the Fed will remain on its current course of aggressive monetary easing.

The Fed minutes released in January spooked markets a bit when they revealed that some Fed officials thought it would be appropriate to consider ending asset purchases later in 2013. U.S. Treasury yields rose on that news, though market worries about a near-term end to quantitative easing have since faded.

Among other companies expected to report earnings next week are Nordstrom , Hewlett-Packard and Marriott International

(Reporting By Caroline Valetkevitch; Editing by Leslie Adler)

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Dismissed as Doomsayers, Advocates for Meteor Detection Feel Vindicated

For decades, scientists have been on the lookout for killer objects from outer space that could devastate the planet. But warnings that they lacked the tools to detect the most serious threats were largely ignored, even as skeptics mocked the worriers as Chicken Littles.

Jim Watson/Agence France-Presse — Getty Images

Dr. Edward Lu, a former NASA astronaut and Google executive, has warned about space threats.

No more. The meteor that rattled Siberia on Friday, injuring hundreds of people and traumatizing thousands, has suddenly brought new life to efforts to deploy adequate detection tools, in particular a space telescope that would scan the solar system for dangers.

A group of young Silicon Valley entrepreneurs who helped build thriving companies like eBay, Google and Facebook has already put millions of dollars into the effort and saw Friday’s shock wave as a turning point in raising hundreds of millions more.

“Wouldn’t it be silly if we got wiped out because we weren’t looking?” said Edward Lu, a former NASA astronaut and Google executive who leads the detection effort. “This is a wake-up call from space. We’ve got to pay attention to what’s out there.”

Astronomers know of no asteroids or comets that pose a major threat to the planet. But NASA estimates that fewer than 10 percent of the big dangers have been discovered.

Dr. Lu’s group, called the B612 Foundation after the imaginary asteroid on which the Little Prince lived, is one team of several pursuing ways to ward off extraterrestrial threats. NASA is another, and other private groups are emerging, like Planetary Resources, which wants not only to identify asteroids near Earth but also to mine them.

“Our job is to be the first line of defense, and we take that very seriously,” James Green, the director of planetary science at NASA headquarters, said in an interview Friday after the Russian strike. “No one living on this planet has ever before been hurt. That’s historic.”

Dr. Green added that the Russian episode was sure to energize the field and that an even analysis of the meteor’s remains could help reveal clues about future threats.

“Our scientists are excited,” he said. “Russian planetary scientists are already collecting meteorites from this event.”

The slow awakening to the danger began long ago, as scientists found hundreds of rocky scars indicating that cosmic intruders had periodically reshaped the planet.

The discoveries included not just obvious features like Meteor Crater in Arizona, but wide zones of upheaval. A crater more than a hundred miles wide beneath the Yucatán Peninsula in Mexico suggested that, 65 million years ago, a speeding rock from outer space had raised enough planetary mayhem to end the reign of the dinosaurs.

Some people remain skeptical of the cosmic threat and are glad for taxpayer money to go toward urgent problems on Earth rather than outer space. But many scientists who have examined the issues have become convinced that better precautions are warranted in much the same way that homeowners buy insurance for unlikely events that can result in severe damage to life and property.

Starting in the 1980s and 1990s, astronomers turned their telescopes on the sky with increasing vigor to look for killer rocks. The rationale was statistical. They knew about a number of near misses and calculated that many other rocky threats whirling about the solar system had gone undetected.

In 1996, with little fanfare, the Air Force also began scanning the skies for speeding rocks, giving credibility to an activity once seen as reserved for doomsday enthusiasts. It was the world’s first known government search.

The National Aeronautics and Space Administration took a lead role with what it called the Spaceguard Survey. In 2007, it issued a report estimating that 20,000 asteroids and comets orbited close enough to the planet to deliver blows that could destroy cities or even end all life. Today, with limited financing, NASA supports modest telescopes in the southwestern United States and in Hawaii that make more than 95 percent of the discoveries of the objects coming near the Earth.

Scientists lobbied hard for a space telescope that would get high above the distorting effects of the Earth’s atmosphere. It would orbit the Sun, peering across the solar system, and would have a much better chance of finding large space rocks.

But with the nation immersed in two wars and other earthly priorities, the government financing never materialized. Last year, Dr. Lu, who left the NASA astronaut corps in 2007 to work for Google, joined with veterans of the space program and Silicon Valley entrepreneurs to accelerate the asteroid hunt.

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Here’s a Cute Cat Watching Hockey

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Molly Sims: I Nursed a Little Vampire!

Mom & Babies
Celebrity Baby Blog

02/15/2013 at 01:00 PM ET

Following the birth of her baby boy, Molly Sims was ready to sink her teeth into breastfeeding.

The only problem? Her son Brooks Alan had beaten her to it.

“Early on in the hospital, they really want you to breastfeed, so I’m trying everything,” the model mama, 39, shared during a Wednesday appearance on Anderson Live.

“And I’m like, ‘Gosh, this really, really hurts.’ And they’re like, ‘Oh, we know.’”

Determined to find the root of the pain, Sims went searching in her newborn’s mouth — and was shocked at her discovery.

“I’m like, ‘Is there any way a baby could be born with a tooth?’” she recalls. “And they went, ‘Oh sweetie, I know you’re a model, but … babies aren’t born with teeth!’”

She continues: “Come to find out, my baby was born with a tooth!”

Courtesy ANDERSON LIVE

Despite countless attempts to successfully nurse — “I did nipple shields, nipple guards, supplemental nursing system, it was horrible,” the new mom says — Sims eventually decided to call it quits.

“He was literally like a vampire on me for three months — it was unbelievable,” she says with a laugh. “Cut to I’m not breastfeeding and I’m proud of it.”

Now Brooks, 7 months, has moved on to other milestones — including crawling — and is already taking after his dad, Scott Stuber.

“He has the hairline of my husband. It’s like an Eddie Munster kind of hairline. It’s not so attractive, but [he'll] end up growing into it,” Sims says.

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States' choices set up national health experiment

WASHINGTON (AP) — President Barack Obama's health care overhaul is unfolding as a national experiment with American consumers as the guinea pigs: Who will do a better job getting uninsured people covered, the states or the feds?

The nation is about evenly split between states that decided by Friday's deadline they want a say in running new insurance markets and states that are defaulting to federal control because they don't want to participate in "Obamacare." That choice was left to state governments under the law: Establish the market or Washington will.

With some exceptions, states led by Democrats opted to set up their own markets, called exchanges, and Republican-led states declined.

Only months from the official launch, exchanges are supposed to make the mind-boggling task of buying health insurance more like shopping on Amazon.com or Travelocity. Millions of people who don't have employer coverage will flock to the new markets. Middle-class consumers will be able to buy private insurance, with government help to pay the premiums in most cases. Low-income people will be steered to safety net programs like Medicaid.

"It's an experiment between the feds and the states, and among the states themselves," said Robert Krughoff, president of Consumers' Checkbook, a nonprofit ratings group that has devised an online tool used by many federal workers to pick their health plans. Krughoff is skeptical that either the feds or the states have solved the technological challenge of making the purchase of health insurance as easy as selecting a travel-and-hotel package.

Whether or not the bugs get worked out, consumers will be able to start signing up Oct. 1 for coverage that takes effect Jan. 1. That's also when two other major provisions of the law kick in: the mandate that almost all Americans carry health insurance, and the rule that says insurers can no longer turn away people in poor health.

Barring last-minute switches that may not be revealed until next week, 23 states plus Washington, D.C., have opted to run their own markets or partner with the Obama administration to do so.

Twenty-six states are defaulting to the feds. But in several of those, Republican governors are trying to carve out some kind of role by negotiating with federal Health and Human Services Secretary Kathleen Sebelius. Utah's status is unclear. It received initial federal approval to run its own market, but appears to be reconsidering.

"It's healthy for the states to have various choices," said Ben Nelson, CEO of the National Association of Insurance Commissioners. "And there's no barrier to taking somebody else's ideas and making them work in your situation." A former U.S. senator from Nebraska, Nelson was one of several conservative Democrats who provided crucial votes to pass the overhaul.

States setting up their own exchanges are already taking different paths. Some will operate their markets much like major employers run their health plans, as "active purchasers" offering a limited choice of insurance carriers to drive better bargains. Others will open their markets to all insurers that meet basic standards, and let consumers decide.

Obama's Affordable Care Act remains politically divisive, but state insurance exchanges enjoy broad public support. Setting up a new market was central to former Republican presidential candidate Mitt Romney's health care overhaul as governor of Massachusetts. There, it's known as the Health Connector.

A recent AP poll found that Americans prefer to have states run the new markets by 63 percent to 32 percent. Among conservatives the margin was nearly 4-1 in favor of state control. But with some exceptions, including Idaho, Nevada and New Mexico, Republican-led states are maintaining a hands-off posture, meaning the federal government will step in.

"There is a sense of irony that it's the more conservative states" yielding to federal control, said Sandy Praeger, the Republican insurance commissioner in Kansas, a state declining to run its own exchange. First, she said, the law's opponents "put their money on the Supreme Court, then on the election. Now that it's a reality, we may see some movement."

They're not budging in Austin. "Texas is not interested in being a subcontractor to Obamacare," said Lucy Nashed, spokeswoman for Gov. Rick Perry, who remains opposed to mandates in the law.

In Kansas, Praeger supported a state-run exchange, but lost the political struggle to Gov. Sam Brownback. She says Kansans will be closely watching what happens in neighboring Colorado, where the state will run the market. She doubts that consumers in her state would relish dealing with a call center on the other side of the country. The federal exchange may have some local window-dressing but it's expected to function as a national program.

Christine Ferguson, director of the Rhode Island Health Benefits Exchange, says she expects to see a big shift to state control in the next few years. "Many of the states have just run out of time for a variety of reasons," said Ferguson. "I'd be surprised if in the longer run every state didn't want to have its own approach."

In some ways, the federal government has a head start on the states. It already operates the Medicare Plan Finder for health insurance and prescription plans that serve seniors, and the Federal Employees Health Benefits Program. Both have many of the features of the new insurance markets.

Administration officials are keeping mum about what the new federal exchange will look like, except that it will open on time and people in all 50 states will have the coverage they're entitled to by law.

Joel Ario, who oversaw planning for the health exchanges in the Obama administration, says "there's a rich dialogue going on" as to what the online shopping experience should look like. "To create a website like Amazon is a very complicated exercise," said Ario, now a consultant with Manatt Health Solutions.

He thinks consumers should be able to get one dollar figure for each plan that totals up all their expected costs for the year, including premiums, deductibles and copayments. Otherwise, scrolling through pages of insurance jargon online will be a sure turn-off.

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