Sandy Sends Oil, Gasoline Prices in Opposite Directions

























It’s official: Hurricane Sandy is now the biggest tropical storm ever to hit the northeast U.S. Total damage is expected to rise into the billions and could rival the $ 15 billion of destruction caused by Hurricane Irene last August. The economic effects are already being felt, particularly in the energy sector.


The path of the storm is aimed directly at a major refining hub along the New Jersey coast, home to more than six large refineries. As a result, refiners are taking far more precaution this time around than they did in the face of Irene. As of Monday morning, two-thirds of the East Coast’s total refining capacity (1.2 million barrels per day) was scheduled to be shut down. Phillips 66, NuStar Energy, Philadelphia Energy Solutions, and Hess (HES) all announced varying degrees of plans to close refineries.





















The month-long decline in gasoline prices looks to be over, at least for now. Gasoline futures popped by 3.5 percent this morning in New York, according to Bloomberg. Although oil prices in New York fell on Monday, they rose in London. As of 11:30 Monday, the price of West Texas Intermediate was $ 85.89, down 39¢, in electronic trading on the New York Mercantile Exchange. While in London, Brent Crude was up 11¢, to $ 109.66 a barrel. As a result, the price differential between WTI and Brent is now $ 23.81, the widest it’s been in a year, and approaching its record high of $ 27.88 from last October.


Although the immediate effect of the hurricane has been an increase in gasoline prices, it could ultimately bring them back down again depending on how demand recovers in the densely populated Northeast. That’s a much different situation than what would happen were the storm headed for the Gulf Coast, which at 7.6 million barrels per day, is home to 45 percent of the total refining capacity in the U.S. Shutting down that capacity (as happened after Katrina) would likely have a much bigger impact on gasoline prices. Whereas shutting down demand in the Northeast could serve to dampen those effects.


Businessweek.com — Top News



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More than ever, Barca more than club for Catalans

























BARCELONA, Spain (AP) — Nearly 20 minutes into the latest clash between Spain’s most popular football teams, Barcelona‘s 98,000-seat Camp Nou stadium erupted into a deafening roar. Tens of thousands of Catalans in the city at the heart of their separatist movement chanted in unison: “Independence!”


More than ever, FC Barcelona, known affectionately as Barca, is living up to its motto of being “more than a club” for this wealthy northeastern region where Spain’s economic crisis is fueling separatist sentiment.





















Lifelong Barca club member Enric Pujol was at Camp Nou for this month’s game against Real Madrid, the team of Spain’s capital. Wearing his burgundy-and-blue Barca jersey, Pujol also held one of the hundreds of pro-independence “estelada” flags, featuring a white star in a blue triangle, which bristled throughout the stands.


“It was a beautiful emotion to see Camp Nou like that,” said Pujol. “Barca is more than a club because of the values it transmits. It is linked to Catalan culture. In this sense it is a club and a social institution that acts like our flag.”


Barca has been seen as a bastion of Catalan identity dating back to the three decades of dictatorship when Catalans could not openly speak, teach or publish in their native Catalan language. Barcelona writer Manuel Vazquez Montalban famously called the football team “Catalonia‘s unarmed symbolic army.”


Barca-Real Madrid matches have a nickname: “el clasico” — the classic — and they are one of the world’s most-watched sporting events, seen by 400 million people in 30 countries. But local passions run high. In Spain, where football has deep political and cultural connotations, many see the clashes of Spain’s most successful teams as a proxy battle between wealthy Catalonia and the central government in Madrid. If Barca is a symbol of Catalan nationalism, Real Madrid is an emblem of a unified Spain.


“Look, the truth is that ever since the Civil War there has always been tension in Spain,” said Pujol. “Having traveled in Spain, they always look at us as Catalans.”


Ahead of kickoff before any “clasico,” Camp Nou traditionally greets Real Madrid players with a huge mosaic of Barcelona’s burgundy-and-blue made up of colored cards. This year, for the first time, they held up cards forming the red-and-yellow striped Catalan “senyera” flag — an explicit nationalist message. (Barca says it can neither confirm nor deny reports that its away uniform next season will be modeled on the senyera.)


Then came the crowd’s collective shout for independence at 1714 hours — in reference to the year 1714 when Barcelona fell to the troops of Philip V in the War of Spanish Succession. It was organized by a pro-independence group through social media.


Barca fan David Fort sees his team as a vehicle to show the world that Catalonia has its own language and culture, which is distinct from what he called the “bulls and flamenco” associated with Spain.


“We have this love for Barca because we have the chance to be represented around the world,” said Fort, a 38-year-old architect from the southern Catalan town of Tarragona. “When we travel and they ask me if I am Spanish, I say not exactly, but when I mention Barca they say ‘Ah! The Catalan team’, and of course since they are champions you feel proud.”


Barca, like every institution in Spain, was marked by the Spanish Civil War of the late 1930s and resulting right-wing dictatorship that ended after Franco’s death in 1975.


Franco’s soldiers killed Barca’s club president in 1936, and the club was forced to change its name from a Catalan to a Spanish version. And while Real Madrid was identified with the regime, Barca, for many, came to represent Catalan anti-fascist resistance.


“Under Franco, people could not shout ‘Long Live Catalonia!,’ but they could shout ‘Long Live Barca!’ (¡Visca Barca!)” in Catalan, said Ernest Folch, a newspaper columnist who writes about Barca for El Periodico. The chant became a kind of code for expressing Catalan pride.


“Barca is an anomaly. There is no other club with its particular history,” said Folch. “It survived the Franco dictatorship, and has always been a focal point for protest and ferment where sport has mixed with politics.”


And politics is a very hot topic these days in Catalonia.


Voters will go to the polls on Nov. 25 in regional elections sure to be judged as a litmus test of the strength of the pro-independence movement that brought 1.5 million people to the streets of Barcelona on Sept. 11 in the largest rally since the 1970s.


Catalonia is heavily in debt and has in fact asked Spain for a euros 5.9 billion ($ 75 billion) bailout. Even so, regional lawmakers voted on Sept. 27 to hold a referendum on self-determination at a date still to be determined. And although it is still unclear that a “Yes” vote would win, Spain’s central government has called such a referendum unconstitutional and will surely try to stop it from taking place.


That all puts Catalonia, and therefore Barca, in the midst of Spain’s struggles to deal with consequences of back-to-back recessions, 25 percent unemployment, and high public debt that has drawn it into the euro crisis along with already bailed-out Greece, Ireland and Portugal.


Barca’s appeal, of course, transcends its regional identity. The team is beloved throughout the world, and a poll last year found that it had displaced Real Madrid as Spain’s most popular team. Barca has 546 fan clubs in Catalonia, and 841 in the rest of Spain. Some of these fans— even in Catalonia — disagree with what they perceive as the political turn the club has taken in recent years.


“It’s surreal to talk to talk about these ideas related to independence,” said fan Jamie Easton, 27, a Spaniard born in Barcelona to a British father and a mother of Catalan descent. “Barca is a Catalan and Spanish club because Barcelona is part of Spain, and fans can feel however they want.”


The upswing in separatist sentiment in Catalonia has forced both the club and its players— many of whom form the backbone of Spain’s world champion national side — to try a difficult balancing act between supporting their most fervent pro-independence fans without alienating the millions of others who are not.


“We are Barca. We represent Catalonia and we will support whatever Catalans want,” said Barca and Spain midfielder Xavi Hernandez. But he added: “We try to isolate ourselves from everything outside the game. We know the political issue is there, and the people have the right to express themselves however they wish, but we are here to play football and make sure people have fun.”


The glaring exception to the moderate tone is former coach Pep Guardiola, a hugely popular figure in Catalonia, who appeared in a video during the Sept. 11 march saying: “Here you have my vote for independence.”


Two weeks after the politically charged “clasico,” Barca president Sandro Rosell made his first official visit to southern Spain to cool tensions at a meeting of Barca fan clubs.


“I don’t know what information you are receiving here, but I preferred to come here and say on behalf of the club that Barca will never get mixed up in political issues,” Rosell told the 1,000 Spanish fans, promising that Barca would never display a mosaic of the separatist “estelada” flag at Camp Nou.


“This doesn’t mean that this isn’t a Catalan club and that of course we will defend our roots and origins, but one thing shouldn’t be mixed with the other. One thing is politics and the other is identity. Barca unites us all.”


___


AP Writer Jorge Sainz contributed to this report from Madrid.


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Verizon Wireless to sell Nokia’s new Lumia smartphones

























HELSINKI (Reuters) – Verizon Wireless will begin selling Nokia‘s new Lumia smartphones this autumn, helping the Finnish company to fight back against Apple and Samsung in the United States


The Nokia Lumia 822, which will run on Microsoft‘s Windows Phone 8 software, will include an 8 megapixel camera and allow for wireless charging, Nokia said on Monday. No details on pricing or exact sale dates were available.





















AT&T will start selling Nokia’s high-end Lumia 820 and 920 phones in early November.


Once the world’s biggest mobile phone maker, the Finnish company has fallen far behind in the lucrative smartphone market, where Apple’s iPhone and Samsung’s Galaxy models dominate. The new Lumia line is key to Nokia’s hopes for recovery.


With its cash reserves falling, analysts have said that Nokia needs to show a turnaround in the next several months if it is to survive.


Microsoft is due to unveil its Windows Phone 8 software later on Monday.


(Reporting by Helsinki Newsroom; Editing by David Goodman)


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Labrinth, Taylor Swift top UK music charts

























LONDON (Reuters) – Singer-producer Labrinth topped the British singles charts this week with the ballad “Beneath Your Beautiful” featuring Emeli Sande.


It was the first No. 1 as a solo artist for the British singer.





















Boy band JLS was new in at No. 6 with “Hottest Girl in the World”, the Official Charts Company said on Sunday.


The other new entry in the singles chart was “Wonder” by British rapper Naughty Boy, also featuring Sande, which took the 10th position.


Taylor Swift swept the album charts with her fourth full-length release “Red”. It is the first time the American country singer has topped the British charts.


British band Lawson, another new entry, scored fourth position with their debut studio album “Chapman Square”.


(Editing by Jon Hemming)


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Florida health department suspends compounding pharmacy

























(Reuters) – The Florida Department of Health has temporarily suspended compounding operations at a pharmacy, the latest in a growing number of closings since a deadly meningitis outbreak caused by contaminated drugs in a Massachusetts facility.


The Florida pharmacy, based in Boca Raton and called Rejuvi Pharmaceuticals, prepares injectable drugs and medications. The Florida health department said in a statement that it violated “a number” of statutes and rules.





















Rejuvi Pharmaceuticals’ website says it makes “bio identical hormones” and compounded medications. No other information on its products was available and Rejuvi was not immediately available for a comment.


Compounding pharmacies mix large quantities of prescription drugs, typically for use by doctors and clinics.


Regulators are scrutinizing these pharmacies after thousands of vials of contaminated injectable steroids were shipped from a New England compounding facility, leading to 25 deaths so far from fungal meningitis. Hundreds more patients were sickened from the steroid shots, which were used to treat back and neck pain.


U.S. Representative Edward Markey, a Massachusetts Democrat, said in a report on Sunday that the U.S. Food and Drug Administration needs more authority to oversee and regulate these compounding facilities. It has fallen mostly to state agencies to regulate them.


Massachusetts regulators shut down a third pharmacy on Sunday, saying a surprise inspection raised concerns about sterility of the drugs.


The Florida health department said in an October 26 statement that during a routine October inspection of Rejuvi it found that it had violated rules on “cleanliness of the prescription department, the dispensing of medications, the compounding of medications, and record keeping.”


It said a review of previous inspections showed Rejuvi had previously been notified of these violations and failed to correct them.


Rejuvi can have a hearing before final action is taken and the suspension is in effect until final disciplinary action, until the suspension is lifted, or until the case is successfully appealed, the Florida health department statement said.


The company had been permitted to prepare injectable drugs and medications that are injected or delivered through a specially coated pill into the intestine.


(Reporting By Caroline Humer. Editing by Andre Grenon)


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China halts project amid protests




























Demonstrators were thought to be calling for the release of people arrested during a protest on Saturday



Plans to expand a petrochemical plant in eastern China have been shelved after days of protests.


On Friday, crowds opposed to the expansion attacked police in the city of Ningbo in Zhejiang province.


Officials from Ningbo’s city government announced on Sunday evening that work on the project would now not go ahead.


Environmental protests have become more common in China. They come ahead of a once-in-a-decade change of national leaders in Beijing.


Protesters gathered again in Ningbo on Sunday, marching on the offices of the district government. They are opposed to the expansion of the plant by a subsidiary of the China Petroleum and Chemical Corporation.


“There is very little public confidence in the government,” protester Liu Li told the Associated Press.


“Who knows if they are saying this just to make us leave and then keep on doing the project,” she added.


Violent clashes


On Saturday, police dispersed more than 1,000 protesters in Ningbo.


Witnesses described scuffles and said a few people were arrested.


Local police accused protesters of throwing stones and bricks at officers. Residents, however, said the violence came after police used tear gas and made arrests.


Local officials met demonstrators later on Saturday to hear their demands.


The huge growth in China’s economy has come at a huge environmental cost.


Many Chinese are becoming more environmentally aware and are deeply concerned about pollution, correspondents say.


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Lithuania opens 2nd round of national election

























VILNIUS, Lithuania (AP) — Voting stations have opened in the second round of Lithuania’s parliamentary elections, with the results likely to determine whether the small East European nation continues tough austerity measures in an effort to join the euro zone.


Nearly half of Parliament’s 141 seats are at stake in single-mandate district voting, which takes place two weeks after the party-list round that failed to produce a clear favorite.





















Two center-left opposition parties took the most seats and have pledged to form a new coalition government, but the ruling conservative party, which came in third, still has a chance to emerge victorious as it has candidates in over half the 67 districts where voting will be held Sunday.


Opposition parties have vowed to increase social spending and postpone tentative plans to adopt the euro in 2014.


Europe News Headlines – Yahoo! News



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Future of Nokia hangs on Windows Phone 8 rollout

























HELSINKI (AP) — For Nokia, it comes down to this: Is Microsoft‘s new phone software going to get it back in the smartphone race, or is it going to be too late?


After being the top seller of cellphones in the world for 14 years, Nokia failed to meet the challenge when Apple in 2007 introduced the dazzling iPhone that caught the imagination of design-conscious customers and rattled mobile markets.





















The Finnish company hit a downward spiral that has led to shrinking sales and market share, plant closures, thousands of layoffs and downgrades by credit agencies to junk status.


On Friday, research firm IDC said that in the July-to-September period, Nokia slid for the first time off the list of the top five smartphone makers in the world. It’s still the second-largest maker of phones overall, but sales of non-smartphones are shrinking across the industry, and there’s little profit there.


The ailing company’s CEO, Stephen Elop, sees Microsoft’s new Windows Phone 8 software as a chance to reverse that trend, describing it as a catalyst for the new models.


On Monday, Microsoft Corp. is hosting a big launch event for the software at an arena in San Francisco. The first phones from Nokia, Samsung and HTC are expected to hit store shelves next month.


The launch of Windows Phone 8 follows on the heels of Windows 8 for PCs and tablets, which Microsoft released Friday. That operating system has borrowed its look from Windows Phone, meaning Microsoft now has a unified look across PCs and phones — at least if people take to Windows 8. The company has also made it easy for developers to create software that runs on both platforms with minor modifications.


Analysts are calling this a make-or-break moment for Nokia.


“Nokia is placing a huge bet on Microsoft and if the gamble doesn’t pay off, the losses can be high,” said Neil Mawston from Strategy Analytics, near London. “It’s putting all its eggs in one basket and that’s quite a high-risk strategy.”


In February last year, Nokia announced it was teaming up with Microsoft to replace its old Symbian and next-generation MeeGo software platforms with Windows. This move was made in the hope that it would rejuvenate the company and claw back lost ground.


Eight months later, they produced the first Nokia Windows Phone. Consumers didn’t warm to it, and it soon became clear that these phones, based on Windows Phone 7, were going to become obsolete. They can’t be upgraded to Windows Phone 8. Lumia sales slumped to 2.9 million units in the third quarter after reaching 4 million in the previous three months.


“Retailers withdrew marketing and promotion because no one wants to sell customers a device that ages in a few months,” says Michael Schroeder, analyst at FIM Bank Ltd. in Helsinki.


“Had there been a seamless transfer to Windows 8 from the old (Lumia) devices, sales figures would have been much higher last quarter.”


Mawston gives Nokia until April to prove it’s still in the race.


“If Nokia does not have more than 5 percent of the global smartphone market by the end of the first quarter 2013, alarm bells will be ringing,” Mawston said.


Analysts estimate Nokia’s current global smartphone market share to be some 4 percent — down from 14 percent a year ago. Meanwhile, uncertainty clouds its new venture with Microsoft.


“We’re a bit in the dark here,” Schroeder said. “Right now we can’t really say anything about Nokia’s future. Everything depends on how the new devices are received in the market.”


Nokia says its Lumia 920 and 820 phones are just the beginning of a new range of Windows Phone 8 devices, but early evaluations suggest they lack the “wow” effect necessary to make a dent in the smartphone market.


Also, Windows Phone 8 lags behind in the number of third-party applications available. There are some 100,000 available. Google’s and Apple’s stores have six or seven times as many.


“It’s a perception thing really,” Mawston of Strategy Analytics said. “Like in supermarket wars, if you have a store with lots of shelves with lots of apps, then consumers will choose you over a smaller store that has a smaller offering — even if you can’t use all those apps.”


Analysts expect 700 million smartphones to be sold worldwide this year. While network operators and retailers may welcome a third software system to challenge the dominance of Apple’s iOS and Google’s Android, it is the consumer who will ultimately decide Nokia’s and Windows Phone 8′s fate.


Beside the smartphone challenge, Nokia is feeling the pinch in the lower end with manufacturers in China and in Asia producing cut-rate non-smartphones — Nokia’s former domain. Earlier this year, Samsung overtook it as the world’s No. 1 mobile phone vendor, ending Nokia’s reign that peaked in 2008 with a 40 percent market share.


“Dumb” phones continue to be the backbone of Nokia operations, including in India where it’s a top seller. With strong and extensive distribution networks and a brand well-known in emerging markets, all might not be lost for the company that grew from making paper and rubber boots to being the biggest manufacturer of cellphones.


Mawston says that in theory, Nokia and Microsoft have a good chance of success as they offer an across-the-board system that stretches across home computers, mobiles, laptops, tablets as well as in the office, backed by Nokia’s strong distribution and hardware and Microsoft’s multi-platform software.


“If they can exploit that underlying market platform … and tie it all together in a good hardware portfolio, then potentially Microsoft and Nokia could be a very, very strong partnership — a bit like bringing together Batman and Robin,” Mawston said. “But, in practice, whether they can execute on that reality still is a great unknown and remains to be seen.”


Wireless News Headlines – Yahoo! News



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Reports: UK police arrest Gary Glitter

























LONDON (AP) — The sex abuse scandal surrounding the late BBC children’s television host Jimmy Savile widened on Sunday as police arrested former glam rock star and convicted sex offender Gary Glitter in connection with the case, British media said.


Police would not directly identify the suspect arrested Sunday, but media including the BBC and Press Association reported he was the 68-year-old Glitter.





















The musician made it big with the crowd-pleasing hit “Rock & Roll (Part 2),” a mostly instrumental anthem that has been a staple at American sporting events thanks to its catchy “hey” chorus. But he fell into disgrace after being convicted on child abuse charges in Britain and Vietnam.


On Sunday, the BBC and Sky News showed footage of Glitter, who wore a hat, a dark coat and sunglasses, being taken from his home by officers and driven away.


British police do not generally identify suspects under arrest by name until they are charged. When asked about Glitter, a spokesman said only that the force arrested a man in his 60s early Sunday morning in London on suspicion of sexual offenses in connection with the Savile probe. He remains in custody in a London police station, police said.


Hundreds of potential victims have come forward since police began their investigation into sex abuse allegations against Savile, the longtime host of popular shows “Top of the Pops” and “Jim’ll Fix It” who died at age 84 last year. Most allege abuse by Savile, but some said they were abused by Savile and others.


Glitter is the first suspect to be arrested in the scandal, which has raised questions about whether the BBC turned a blind eye to the alleged sexual crimes. It was not immediately clear if Glitter, whose real name is Paul Gadd, and Savile knew each other.


Glitter rose to fame in the 1970s with a string of U.K. hits and his look of shiny jumpsuits, silver platform shoes and bouffant wigs, but his music has often been shunned since his abuse convictions. In 2006, the NFL advised its football teams not to use the Glitter version of “Rock and Roll (Part 2)” at games.


Glitter was jailed in Britain in 1999 for possessing child pornography, and convicted in 2006 in Vietnam of committing “obscene acts with children” — offenses involving girls aged 10 and 11. He was deported back to Britain in 2008.


Police have said that though the majority of cases it is investigating related to Savile alone, some involved the entertainer and other, unidentified suspects. In addition, some potential victims who reported abuse by Savile also told police about separate allegations against unidentified men that did not involve the BBC host.


The scandal has horrified Britain with revelations that Savile cajoled and coerced vulnerable teens into having sex with him in his car, in his camper van, and even in dingy dressing rooms on BBC premises.


One witness told the BBC that she once saw Glitter having sex with a schoolgirl in Savile’s dressing room at the broadcaster’s TV center in the 1970s. Glitter has denied the allegations.


On Sunday, the chairman of the BBC Trust said he was committed to finding out the true scale of the scandal to save the broadcaster’s reputation.


“Can it really be the case that no one knew what he was doing? Did some turn a blind eye to criminality? Did some prefer not to follow up their suspicions because of this criminal’s popularity and place in the schedules?” Chris Patten wrote in The Mail on Sunday.


The BBC has set up an independent inquiry into the corporation’s culture and practices in the years Savile worked there. It also launched a separate inquiry into whether its journalists dropped an investigation into the allegations.


Entertainment News Headlines – Yahoo! News



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Facebook More Irresistible Than Sex?

























Reported by Dr. Julielynn Wong:


You may want to ask your date to turn off his or her phone. A new study suggests Facebook and email trump sex in terms of sheer irresistibility.





















The German study used smartphone-based surveys to probe the daily desires of 205 men and women, most of whom were college age. For one week the phones, provided by the researchers, buzzed seven times daily, alerting study subjects to take a quick survey on the type, strength and timing of their desires, as well as their ability to resist them.


While the desire for sex was stronger, the study subjects were more likely to cave into the desire to use media, including email and social networking platforms like Facebook and Twitter, according to the study.


“Media desires, such as social networking, checking emails, surfing the Web or watching television might be hard to resist in light of the constant availability, huge appeal, and apparent low costs of these activities,” said study author Wilhelm Hofmann, an assistant professor of behavioral science at the University of Chicago Booth School of Business.


The subjects were paid $ 28 at the start of the study and were eligible for extra incentives if they filled out more than 80 percent of the surveys. It’s no small wonder that more than 10,000 surveys were completed.


The urge to check social media was so strong that subjects gave in up to 42 percent of the time, according to the study published in the journal Psychological Science. One explanation is that it’s much more convenient to check email or Facebook than it is to have sex.


“The sex drive is much stronger but it’s also much more situational,” said Karen North, director of the Annenberg Program on Online Communities at the University of Southern California in Los Angeles, who was not involved with the study. “We’re training ourselves to check our messages every couple minutes.”


“People are constantly looking down to check their phones,” North added. “They can’t stop.”


One drawback of this study is that it failed to address whether the subjects had sexual partners.  So while some subjects might have been single, all of them had smartphones, North said. It’s also unclear whether the findings can be generalized to the general population.


While social media can help people stay connected, Hofmann said overuse can be damaging.


“Media desires distract us from getting work done,” he said. “People underestimate how much time they consume and the distractions they produce and that can be harmful.”


The study surprised media expert Bob Larose, a professor in the department of telecommunications, information studies, and media at Michigan State University, East Lansing, Mich.


“It’s surprising that self-regulation fails so much more often for media use than for sex, alcohol or food,” said Larose, who was not involved with the study. ”That speaks to the power of the instantly available, 24/7 media environment to disrupt our lives… Our failure to control media use can deplete our ability to control other aspects of our lives.”


For those who fear social media is taking over their personal or professional lives, there is hope.  North offers some tips.


“If it is interfering with social/business relationships, work, or school performance, then people should try to scale back and control or limit the behavior,” she said, describing how self-imposed “rules,” like no social media at the dinner table, can help curb the constant urge to check Facebook.


“People can use a self monitoring technique, such as charting when they use social media as a means of reducing it,” North added. “Some people find it helpful to set rewards for staying within use standards that they set for themselves.”


Health News Headlines – Yahoo! News



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