Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.

Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.

The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.

The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.

"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."

The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.

The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.

That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.

MUTUAL FUND INVESTORS COME BACK

All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.

Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.

More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.

"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.

The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.

Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.

"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.

The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.

JOBS DATA MAY TEST THE RALLY

In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.

Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.

The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.

"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."

A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .

On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.

Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.

"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."

For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.

(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

Read More..

IHT Rendezvous: Which Companies' Sustainability Promises Do You Believe?

H&M, the Swedish clothing retail giant, has vowed to become greener and more sustainable when it comes to the water it uses to make its clothes.

“Water is a key resource for H&M, and we are committed to ensuring water is used responsibly throughout our value chain. We do this to minimize risks in our operations, protect the environment and secure availability of water for present and future generations,” said Karl-Johan Persson, the head of H&M, in a press statement released yesterday.

The World Wildlife Fund, the venerable environmental group, will monitor the effort and collaborate with H&M in a campaign called “Pioneering Water Stewardship for Fashion” over the next three years.

With 94,000 employees selling clothes in 48 countries and 750 direct suppliers, H&M is a significant global force in the garment industry.

WWF sees H&M’s commitment to changing all aspects of its water use — from cotton to the customer — as a chance to change the way an entire industry deals with water use and pollution.

“This partnership marks an evolution in the corporate approach to water,” said James P. Leape, Director General of WWF International, according to the statement.

Just two years ago Greenpeace U.K. condemned H&M for wasting water, shaming it with commitments Puma, Adidas and Nike had made to do better. At the time Greenpeace charged: “H&M had links to factories discharging a range of hazardous chemicals into China’s rivers.”

The German sportswear-maker Puma (owned by the French PPR) has been scoring points with environmentalists on several sustainability campaigns. Two years ago, the company introduced an accounting tool that measures the sustainability of products in terms of the greenhouse gases emitted and water consumed to make them. More visible to consumers, the company has received much praise for its environmentally friendly packaging.

Even the corporate behemoth Nike, which in the ’90s was forced to fight against the image of profiting from child labor, has long vowed to be a good and sustainable corporate citizen. In 2011, it announced it wanted to stop discharging hazardous chemicals by 2020.

Join our sustainability discussion. Do you trust these multinational companies when they announce sustainability plans? Or are such announcements more public relations and marketing than honest goals?

Read More..

Al Shabaab says enemies closed its Twitter account

MOGADISHU (Reuters) – Al Shabaab on Friday said its Christian enemies had closed its Twitter account, which the Somali militant group used to parade hostages, mock rivals and claim responsibility for bombings and assassinations.

The group’s official Twitter account, which has thousands of followers, was offline on Friday with a message saying “Sorry, that user is suspended”.

It was not immediately clear why the account, which was created in 2011 under the HSM PRESS Twitter handle, was suspended. The account was still unavailable as of 1233 GMT.

On Wednesday the al Qaeda-aligned rebels used the social media site to threaten to kill several Kenyan hostages and on January 17 announced the execution of a captive French agent after a French commando mission to rescue him failed.

“The enemies have shut down our Twitter account,” al Shabaab‘s most senior media officer, who refused to be named, told Reuters.

“They shut it down because our account overpowered all the Christians’ mass media and they could not tolerate the grief and the failure of the Christians we always displayed (online).”

Al Shabaab wants to impose their strict version of sharia, or Islamic law, across Somalia. However, it has lost significant territory in the southern and central parts of the country in the face of an offensive by African Union troops.

Twitter said it does not comment on individual accounts and the Kenyan government denied it had filed any request for the account to be taken down.

“It’s an emphatic no. We would not try to negotiate or have anything to do with the Al Shabaab. We didn’t even know the account was suspended,” said government spokesman Muthui Kariuki.

Al Shabaab posted on the account on Wednesday a link to a video of two Kenyan civil servants held hostage in Somalia, telling the Kenyan government their lives were in danger unless it released all Muslims held on “so-called terrorism charges” in the country.

“Kenyan government has three weeks, starting midnight 24/01/2013 to respond to the demands of HSM if the prisoners are to remain alive,” the group said.

Despite the closure of the Twitter account, al Shabaab said it would continue to “display the loss and grief of Christians no matter what means we use,” al Shabaab’s spokesman said.

Internet News Headlines – Yahoo! News

Title Post: Al Shabaab says enemies closed its Twitter account
Url Post: http://www.news.fluser.com/al-shabaab-says-enemies-closed-its-twitter-account/
Link To Post : Al Shabaab says enemies closed its Twitter account
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Adrienne Maloof's New Beau Has a Las Vegas Feast ... Without Her!

Caught in the Act

01/25/2013 at 11:00 AM EST

Sean Stewart

Mr Photoman/Splash News Online

Sean Stewart, who has been dating Real Housewives of Beverly Hills star Adrienne Maloof recently, popped up in Las Vegas Wednesday night without his reality star companion.

And he apparently brought his appetite!

Stewart, 32 and the son of rock icon Rod Stewart, who has drawn attention for dating Maloof, who at 51 is almost 20 years his senior, dined at the Planet Hollywood restaurant Meatball Spot with the hotel's CEO Robert Earl. Top Chef contestant Carla Pellegrino prepared Italian delights for the pair, which included starters such as baby arugula salad, the eatery's popular Garbage Salad (which features salami, pepperoni and two different cheeses), mushroom risotto and macaroni and cheese.

For the main course, the men enjoyed chicken meatballs with classic tomato sauce, classic meatballs with spicy meat sauce, veggie meatballs with pesto sauce and a half-tray of pizza topped with artichokes, parmesan, prosciutto and black olives. Stewart also took a half-tray of margherita pizza to-go.

Maloof, who finalized a divorce with former husband Dr. Paul Nassif in November after a contentious split, has said her connection with Stewart started as a business relationship and then it evolved into something more, telling PEOPLE their burgeoning relationship is "casual, real casual."
– Mark Gray

Read More..

Penalty could keep smokers out of health overhaul

WASHINGTON (AP) — Millions of smokers could be priced out of health insurance because of tobacco penalties in President Barack Obama's health care law, according to experts who are just now teasing out the potential impact of a little-noted provision in the massive legislation.

The Affordable Care Act — "Obamacare" to its detractors — allows health insurers to charge smokers buying individual policies up to 50 percent higher premiums starting next Jan. 1.

For a 55-year-old smoker, the penalty could reach nearly $4,250 a year. A 60-year-old could wind up paying nearly $5,100 on top of premiums.

Younger smokers could be charged lower penalties under rules proposed last fall by the Obama administration. But older smokers could face a heavy hit on their household budgets at a time in life when smoking-related illnesses tend to emerge.

Workers covered on the job would be able to avoid tobacco penalties by joining smoking cessation programs, because employer plans operate under different rules. But experts say that option is not guaranteed to smokers trying to purchase coverage individually.

Nearly one of every five U.S. adults smokes. That share is higher among lower-income people, who also are more likely to work in jobs that don't come with health insurance and would therefore depend on the new federal health care law. Smoking increases the risk of developing heart disease, lung problems and cancer, contributing to nearly 450,000 deaths a year.

Insurers won't be allowed to charge more under the overhaul for people who are overweight, or have a health condition like a bad back or a heart that skips beats — but they can charge more if a person smokes.

Starting next Jan. 1, the federal health care law will make it possible for people who can't get coverage now to buy private policies, providing tax credits to keep the premiums affordable. Although the law prohibits insurance companies from turning away the sick, the penalties for smokers could have the same effect in many cases, keeping out potentially costly patients.

"We don't want to create barriers for people to get health care coverage," said California state Assemblyman Richard Pan, who is working on a law in his state that would limit insurers' ability to charge smokers more. The federal law allows states to limit or change the smoking penalty.

"We want people who are smoking to get smoking cessation treatment," added Pan, a pediatrician who represents the Sacramento area.

Obama administration officials declined to be interviewed for this article, but a former consumer protection regulator for the government is raising questions.

"If you are an insurer and there is a group of smokers you don't want in your pool, the ones you really don't want are the ones who have been smoking for 20 or 30 years," said Karen Pollitz, an expert on individual health insurance markets with the nonpartisan Kaiser Family Foundation. "You would have the flexibility to discourage them."

Several provisions in the federal health care law work together to leave older smokers with a bleak set of financial options, said Pollitz, formerly deputy director of the Office of Consumer Support in the federal Health and Human Services Department.

First, the law allows insurers to charge older adults up to three times as much as their youngest customers.

Second, the law allows insurers to levy the full 50 percent penalty on older smokers while charging less to younger ones.

And finally, government tax credits that will be available to help pay premiums cannot be used to offset the cost of penalties for smokers.

Here's how the math would work:

Take a hypothetical 60-year-old smoker making $35,000 a year. Estimated premiums for coverage in the new private health insurance markets under Obama's law would total $10,172. That person would be eligible for a tax credit that brings the cost down to $3,325.

But the smoking penalty could add $5,086 to the cost. And since federal tax credits can't be used to offset the penalty, the smoker's total cost for health insurance would be $8,411, or 24 percent of income. That's considered unaffordable under the federal law. The numbers were estimated using the online Kaiser Health Reform Subsidy Calculator.

"The effect of the smoking (penalty) allowed under the law would be that lower-income smokers could not afford health insurance," said Richard Curtis, president of the Institute for Health Policy Solutions, a nonpartisan research group that called attention to the issue with a study about the potential impact in California.

In today's world, insurers can simply turn down a smoker. Under Obama's overhaul, would they actually charge the full 50 percent? After all, workplace anti-smoking programs that use penalties usually charge far less, maybe $75 or $100 a month.

Robert Laszewski, a consultant who previously worked in the insurance industry, says there's a good reason to charge the maximum.

"If you don't charge the 50 percent, your competitor is going to do it, and you are going to get a disproportionate share of the less-healthy older smokers," said Laszewski. "They are going to have to play defense."

___

Online:

Kaiser Health Reform Subsidy Calculator — http://healthreform.kff.org/subsidycalculator.aspx

Read More..

S&P 500 eyes best winning streak in eight years

NEW YORK (Reuters) - Stocks rose on Friday, buoyed by sturdy corporate earnings from Procter & Gamble and Honeywell, with the S&P 500 poised for its longest winning streak in more than eight years.

The strong start for the equity market this year has been attributed to solid corporate results, agreement in Washington to extend the government's borrowing power, encouraging signs from the global economy and seasonal inflows into stocks.

Those factors helped the S&P 500 rally for a seventh day on Thursday to a five-year peak. Still, the index struggled to climb convincingly above 1,500, a level it surpassed briefly Thursday for the first time since December 2007.

If the S&P 500 rises for an eighth day on Friday it will be its longest winning streak since late 2004, when it rallied for nine straight days.

"We are seeing a very broad-based rally and the ingredients are still in place," said Steve Goldman, principal at Goldman Management in Short Hills, New Jersey. "This is the lift-off phase and it's still significant."

Procter & Gamble , the world's top household products maker, said quarterly profit soared past expectations and raised its sales and earnings outlook for the fiscal year. Shares rose 3.5 pct to $72.93.

The Dow Jones industrial average <.dji> gained 27.45 points, or 0.20 percent, to 13,852.78. The Standard & Poor's 500 Index <.spx> rose 4.19 points, or 0.28 percent, to 1,499.01. The Nasdaq Composite Index <.ixic> added 8.63 points, or 0.28 percent, to 3,139.01.

Honeywell International Inc posted fourth-quarter earnings just above Wall Street estimates, reflecting the diversified U.S. manufacturer's campaign to boost profit margins in the face of sluggish sales growth. The shares rose 0.9 percent to $68.82.

Pointing to a rotation out of bonds, U.S. 30-year Treasury bonds traded more than a point lower in price on Friday, with yields touching session highs at 3.10 percent.

"You have had more confidence from fund managers to provide more allocations to equity markets," which looked more attractive than bonds or cash, said Rick Meckler, president of investment firm LibertyView Capital Management.

Recent company earnings have been encouraging. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings so far, 66.9 percent exceeded expectations, more than the 65 percent average over the past four quarters.

Microsoft Corp reported lower quarterly profit on Thursday as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company's shares down 0.2 percent to $27.51.

Apple stepped up audits of working conditions at major suppliers last year, discovering multiple cases of underage workers, discrimination and wage problems. The shares, which fell 12 percent Thursday after disappointing earnings, were little changed at around $450.93.

German business morale improved for a third consecutive month in January to its highest in more than half a year, providing further evidence that growth in Europe's largest economy was gathering speed after contracting late last year.

Echoing a more positive tone in Europe, ECB President Mario Draghi said on Friday he expects the euro zone economy to recover later this year, and that financial market improvements had not yet trickled into the general economy.

(Editing by Bernadette Baum)

Read More..

Britain Warns of ‘Imminent’ Threat to Westerners in Benghazi

LONDON — Days after the deadly hostage crisis in Algeria, Britain on Thursday announced a “specific, imminent threat to Westerners” in neighboring Libya and urged any British citizens in the eastern Libyan city of Benghazi to leave immediately.

Travel advice updated by the British Foreign Office also warned against “all but essential travel” to several other Libyan cities, citing a “high threat from terrorism” and a possibility of retaliatory attacks targeting Western interest in the region after the French military intervention in Mali, which preceded last week’s Islamist attack on a remote Algerian gas field near the Libyan border.

The Foreign Office did not describe the nature of the reported threat in Benghazi, where an attack on the United States diplomatic compound in September killed four Americans including Ambassador J. Christopher Stevens.

Since September, the British authorities have warned against all travel to Benghazi.

Earlier this week, a senior Algerian official said that several Egyptian members of the squad that attacked the Algerian gas complex were also among those who had attacked the American mission in Benghazi.

The Egyptians were among 29 kidnappers killed by Algerian forces during the four-day siege of the gas plant in which at least 37 foreign hostages and one Algerian died. Three militants were captured alive and one of them, under interrogation by Algerian security forces, recounted the Egyptians’ involvement in both attacks, the Algerian official said.

“We are aware of a specific, imminent threat to Westerners in Benghazi,” the Foreign Office advisory said. “We advise against all travel to Benghazi and urge any British nationals who are there against our advice to leave immediately.”

In other Libyan places, it said, “there is a high threat from terrorism. Attacks could be indiscriminate, including in places frequented by expatriates and foreign travelers.” The advisory did not specifically link its warnings to the kidnappings in Algeria.

Foreign Office officials declined to elaborate on the warnings.

As the crisis in Algeria unfolded, Prime Minister David Cameron of Britain repeatedly warned that Al Qaeda-linked extremists and other Islamist militants in North Africa presented a growing threat to Western interests.

“Just as we have reduced the scale of the Al Qaeda threat in other parts of the world, including in Pakistan and Afghanistan, so it has grown in other parts of the world,” he said. “We need to be equally concerned about that, and equally focused on it.”

During the Algerian hostage crisis, the kidnappers depicted their attack as linked to the French intervention in Mali, in turn provoked by a lightning advance south by Islamists who have turned Mali’s desert north into a separatist redoubt.

Read More..

Samsung’s iPad mini rival, the Galaxy Note 8.0 tablet, revealed in leaked images

While Samsung (005930) has had tremendous success over the past year with its Galaxy brand of smartphones, the company hasn’t been able to generated the same amount of buzz for its Galaxy tablet line just yet. But now SamMobile points us to the first leaked pictures of Samsung’s new Galaxy Note 8.0 that the company hopes will become its flagship tablet in 2013. The pictures, posted on Italian website DDAY, show an 8-inch white tablet that looks like a large Galaxy S III and features thicker side bezels than Apple’s (AAPL) recently released iPad mini. The pictures also show off the new tablet display’s 16:10 aspect ratio with a resolution of 1280 x 800 pixels, which packs more pixels per inch than the iPad mini display and its 1,024 x 768 resolution. We’ll get our first official glimpse of the Galaxy Note 8.0 when Samsung shows it off at Mobile World Congress next month.

[More from BGR: The ultimate humiliation: Dell now getting advice from the ‘Dell Dude’ on how to fix company]

This article was originally published on BGR.com

Gadgets News Headlines – Yahoo! News

Read More..

Sarah Paulson Is Freaked Out by Her Own Show, American Horror Story

TV Watch

By Tim Nudd

01/24/2013 at 10:35 AM EST

Sarah Paulson, on American Horror Story

Michael Yarish/FX

It's a good thing American Horror Story wrapped up its second season Wednesday night. One of its stars, Sarah Paulson, can sleep a little easier now.

"I can't watch it at night and I'm on it," the Emmy-nominated actress, 38, tells the Associated Press.

"There are some people who like to be scared and I understand that, but I am not one of those individuals. I like to cozy up with a nice book and a bath and a teddy bear. I am not interested in being terrified before I go to sleep."

It's been a breakout year for the FX horror show, and for Paulson personally. One highlight was when Miley Cyrus, a fan of the show, started following Paulson on Twitter. "@MsSarahPaulson I can't WAIT a whole week until the next episode!" the pop star wrote at one point.

"That was pretty wild," Paulson tells the Huffington Post. "I think I tweeted her back like, 'Are you kidding? Did you follow me?' Miley Cyrus watches American Horror Story? I couldn't understand."

Paulson also earned Emmy and Golden Globe nominations for her work on the HBO movie Game Change. She didn't win, but was still thrilled.

"It's okay to sit in the Golden Globe room and look around and think, 'Oh, Helen Mirren's a loser tonight, so is Nicole Kidman. Meryl Streep lost tonight. Jessica Lange didn't win.' If you're gonna be in the company of losers, that's the company to be in."

She adds: "I definitely have felt how wide-reaching this season has been in terms of people who have come up to me in restaurants and in New York, walking down the street. It's wild."

Read More..

Burger King drops supplier linked to horsemeat

LONDON (AP) — British and Irish burger fans could face a Whopper shortage. Burger King says it has stopped buying beef from an Irish meat processor whose patties were found to contain traces of horsemeat.

The fast food chain said in a statement Thursday that it had dropped Silvercrest Foods as a supplier for its U.K. and Ireland restaurants as a "voluntary and precautionary measure."

Last week Silvercrest, which is owned by ABP Food Group, shut down its production line and recalled 10 million burgers from supermarket shelves in Britain and Ireland after horse DNA was found in some beef products.

Burger King said the decision to drop the supplier "may mean that some of our products are temporarily unavailable." It stressed that "this is not a food safety issue."

The presence of horsemeat in beef is a sensitive issue in Britain and Ireland, which do not have a tradition of eating horses. The British tabloid The Sun reported the Burger King story under the headline "Shergar King," a reference to a famous racehorse.

Products from another Irish firm and one in Britain also were contaminated by horsemeat. Most had only small traces, but one burger of a brand sold by the British supermarket chain Tesco contained 29 percent horsemeat.

Irish food officials say an ingredient imported from an unspecified European country and used as filler in cheap burgers is the likely source of the horsemeat contamination.

Burger King says its patties are made from 100 percent beef.

Officials say the horsemeat poses no risk to human health, but the episode has raised food security worries.

More concern arose Thursday when lawmaker Mary Creagh, environment spokeswoman for Britain's opposition Labour Party, said that several horses slaughtered in the country last year had tested positive for phenylbutazone, an anti-inflammatory drug given to horses that can cause cancer in humans.

"It is possible that those animals entered the human food chain," she said.

The Food Standards Agency confirmed that meat from five horses had tested positive for the drug, but said none had been approved for sale in Britain. It said the relevant food safety authorities were informed in cases where the meat was exported to other countries.

The agency said no horsemeat in the current scandal contained phenylbutazone.

Very little horsemeat is sold in Britain but the country sends thousands of horses a year abroad to be killed for meat.

Read More..