Asian shares gain on improving sentiment, G20 eyed

TOKYO (Reuters) - Asian shares rose on improving risk sentiment while the yen steadied ahead of the weekend meeting of G20 finance and central bank officials, whose views on global growth and differences over currencies will be scrutinized by investors.

"Asian markets have extended gains with risk sentiment remaining resilient as markets continue to push to new highs. Ahead of the European open, we are calling the major bourses relatively flat with GDP numbers in focus," Stan Shamu, market strategist at IG Markets, said in a note.

Financial spreadbetters were predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open little changed ahead of European gross domestic data. U.S. stock futures were also steady, suggesting a similarly quiet Wall Street open. <.l><.eu><.n/>

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> extended gains, rising 0.6 percent as its materials sector <.mispjmt00pous> outperformed with a 1.6 percent increase partly on a jump in shares of top miners ahead of earnings news from Rio Tinto .

Australian shares rose 0.7 percent to their highest since September 2008, as a strong earnings season and receding fears about European and U.S. debt woes bolstered investor sentiment.

South Korean shares <.ks11> were flat after Wednesday's three-week closing high and biggest daily percentage gain since January 2 when investors cheered a pause in the yen's decline.

Market reaction was muted after monetary policy decisions from South Korea and Japan during Thursday's sessions.

The Bank of Korea held interest rates steady for a fourth straight month as expected, as global economies show signs of improvement and domestic inflation remains low. But the decision was not unanimous, its governor told a news conference.

The Bank of Japan also kept monetary policy steady and upgraded its economic assessment, as recent falls in the yen and signs of a pick-up in global growth give it some breathing space after expanding stimulus just a month ago.

A pause in the yen's rebound positively affected Japanese equities on Thursday, with the Nikkei average <.n225> advancing 0.7 percent after Wednesday's 1 percent slump when the firming yen prompted investors to take profits on exporters. <.t/>

"Usually the BOJ doing nothing causes a bit of disappointment, but since there are concerns about the flak Japan might get at the G20 this weekend for the weakening yen, standing pat will actually be a relief to the market," said Masayuki Doshida, senior market analyst at Rakuten Securities.

Markets in China and Taiwan remain shut for the Lunar New Year holiday but Hong Kong resumed trading on Thursday.

YEN IN SPOTLIGHT

The dollar recouped earlier losses to inch up 0.1 percent to 93.49 yen after marking its highest level since May 2010 of 94.465 on Monday. The euro steadied at 125.60 yen, below its peak since April 2010 of 127.71 yen touched last week.

The yen lost nearly 20 percent against the dollar between November and early February, and more than 20 percent against the euro.

The yen began its steady fall in mid-November as expectations built for a new government to take aggressive steps to bring Japan out of years of slump. Prime Minister Shinzo Abe is pushing for strong reflationary steps, pressuring the BOJ to take unprecedented expansionary measures.

The yen's rapid depreciation, after years of sharp appreciation, has drawn some criticism from overseas, with rhetoric heating up ahead of the Group of 20 nations meeting on Friday and Saturday in Moscow.

Russian Deputy Finance Minister Sergei Storchak told reporters on Wednesday in Moscow that the yen was "definitely overvalued" and that "there are no signs" that Japan's monetary authorities were intervening on the foreign exchanges.

Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo, said various interpretations this week over what the G20 may say about Japan's policy and a weak yen trend "have been used as an excuse to adjust positions ahead of the meeting, and I expect forex to be in ranges."

"Currency will be discussed but I think Russia wants the meeting to focus on broader economic issues involving emerging markets as it is the G20 gathering," he said.

Traders and analysts say 90-95 yen to the dollar appeared to be a comfortable range for now, unless upside surprises emerge in the U.S. economy or Japan quickly implements unexpectedly drastic reflationary policies, both of which will swing the dollar higher above the range.

They said the yen's upside was also capped around 87 yen, halfway between its slump from mid-November to early February.

Market reaction was muted to comments from Jack Lew, President Barack Obama's pick to run the Treasury Department, who on Wednesday said he would support a strong U.S. dollar, in line with longstanding U.S. policy.

Data published on Thursday showed Japan's economy shrank 0.1 percent in October-December from the previous quarter, falling for a third straight quarter.

U.S. crude was up 0.1 percent to $97.13 a barrel and Brent added 0.1 percent to $117.98.

London copper rose 0.2 percent to $8,240.50 a metric ton (1.1023 tons).

Gold regained some strength as recent losses attracted buying interest from Asian jewellers after the Lunar New Year break, but firmer equities could limit gains.

(Additional reporting by Joyce Lee in Seoul and Tomo Uetake in Tokyo; Editing by Eric Meijer and Richard Borsuk)

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India Ink: A Volatile Brahmaputra River Will Grow Only More So

ELOPA, Arunachal Pradesh — Amid a desert of volleyball-sized boulders, Jibi Pulu bounces his Tata jeep over a trickling nullah. In his childhood, just 30-odd years ago, this stream used to irrigate his family paddy fields right here in the flatlands and provide fresh water to his ancestral village in the hills above the floodplain of the Dibang River, a major tributary of the Brahmaputra.

Today, the paddy fields are gone, and the village is abandoned, fallen prey to hillside erosion and river siltation. “This plain was once a narrow band of huge trees,” said Mr. Pulu, who heads the Idu-Mishmi tribe’s Community Resource Management Committee. “Now it’s a stony wasteland stretching for farther than the eye can see.

“As a young boy, I could sit here and watch animals come down right there to the river to drink – sambar deer, barking deer, wild boars, tigers, leopards, herds of wild elephants. It was like an African safari park. Now all you see of the animals are occasional tracks and droppings.”

Experiences like Mr. Pulu’s give vivid life to the numeric inputs that fuel Professor Subashisa Dutta’s statistical models. Together with his fellow civil engineering professor Shyamal Ghosh at the Indian Institute of Technology in Guwahati, Mr. Dutta has published the most recent climate change models of the Brahmaputra River basin. Using the known flood characteristics of the basin, they plugged in regional rainfall projections under the climate change scenario that assumes warming over the Indian subcontinent because of greenhouse gas concentrations.

The results look grim. The Brahmaputra valley will experience “longer floods and more flood events outside the monsoon period,” Mr. Dutta predicted. Not only will peak flows increase, but so will the incidence of pre-monsoon floods, which could jeopardize key production phases in the agricultural cycle.

The worst threat, he added, will not come from cataclysmic once-in-a century floods, but rather from increasing year-to-year volatility. “Five-year-period floods will have more change than the 50-year-period floods,” Mr. Dutta said. And some of the biggest impacts will happen at the tributary level, rather than on the main channel of the Brahmaputra.

“Many tributaries on the North Bank are changing course or transforming from a meandering river to a braided river,” he said. This can only make the floods “flashier, drastically changing the hazards,” he warned.

Right across the Indian Institute of Technology’s expansive academic complex, Arupjyoti Saikia, a historian, has reached much the same conclusion from a far more anecdotal, almost personalized approach. Freshly returned from a fellowship at Yale University’s Agrarian Studies program, Mr. Saikia is now writing a kind of biography of the Brahmaputra.

It’s a short biography, in geologic terms. If the Brahmaputra were a person, it would be a tempestuous teenager who frequents all-night raves during the wet season. Its youthful temperament reflects the young geology of its Himalayan catchment basin as much as the heavy monsoon rainfall it receives.

Viewed on the human time scale, on the other hand, the Brahmaputra presents an immemorial landscape that is in peril. Though the plains in Assam have been settled for thousands of years, Mr. Saikia noted that only in the last hundred have people lived so close to the river.

Population pressure on the land, he explained, has pushed people to migrate into areas vulnerable to flood. In the past, those who cultivated in the flood plains always migrated to higher land during flood season. But nowadays, Assam is much too crowded for people to make these seasonal migration shifts.

To screen the encroaching population from river hazards, the government of India went on a misguided embankment-building spree between the late 1940s through the 1970s.

People believed – and still do – that the embankments would protect them against floods. But time and again, that hope has proved false. Just this past flood season over 60 embankments broke, sending surging water into thatched-roof villages.

For at least four decades it has been clear to the technocrats that embankments spelled trouble, only compounding the hazards of the river while failing to tame it. But by the 1970s, “it was already too late; there was no going back,” Mr. Saikia lamented. “It permanently jeopardized the rhythm of the water.”

Yet “the Brahmaputra is still free,” Mr. Saikia said, sighing. Come monsoon time, “it can still play with its rhythm and it can dance as it likes.”

Jibi Pulu, who remembers the flowing waters that fed the rice paddy of his youth, knows this firsthand in his home region of the Dibang basin.

“See that plinth over there,” he said, pointing to a crumbling block of concrete atop an undercut bank. “Some Hindus tried to tame the river by building a Shiva temple there.” But just last year, the Dibang danced right over Nataraja, the lord of the cosmic dance.

Brian Orland’s dispatches will appear regularly in India Ink. Last month, he wrote about population growth along the Brahmaputra.

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Verizon now rates apps by how much data, battery life they consume

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Westminster Names Affenpinscher Banana Joe Best in Show

People Pets

By Kiran Hefa & Alison Schwartz

02/12/2013 at 11:55 PM EST

Westminster has its top dog!

After two days of meticulous primping, prizes and the less-pretty realities of any spirited championship, the 137th Annual Westminster Kennel Club Dog Show came to its finale Tuesday night, declaring Affenpinscher Banana Joe the best in show.

The competition proved fur-rocious as the pint-sized, black-haired furball bested six other finalists (and 2,721 entries total) for the honor, including Old English Sheepdog Swagger, who was named the reserve best in show. It’s the first time the breed has ever taken home the top prize in Westminster history.

Earning top marks at Westminster is the latest accolade in Banana Joe's storied run. The paw-dorable pooch, who is 5 years old, has been named best in show 86 times in his career, and his Westminster win will go down as his last.

"It's all so indescribable. It's just a wonderful thing as a tribute for a small breed with such a big heart," handler Ernesto Lara said post-victory. "The plans for him now is for him to retire back home where he was born, and that's in the Netherlands."

Describing his little buddy, Lara praised the breed for its commendable qualities as a canine companion.

"An Affenpinscher is a very human-like dog," he said. "It's definitely a breed you don’t want to tame or train, in the proper sense."

"You want to befriend it," Lara continued. "Once you gain the friendship, they're loyal just like a human friend."

As for Banana Joe's big victory, "Nobody told him he's small," said Lara, "and I don't think he'll believe that."

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Study questions kidney cancer treatment in elderly

In a stunning example of when treatment might be worse than the disease, a large review of Medicare records finds that older people with small kidney tumors were much less likely to die over the next five years if doctors monitored them instead of operating right away.

Even though nearly all of these tumors turned out to be cancer, they rarely proved fatal. And surgery roughly doubled patients' risk of developing heart problems or dying of other causes, doctors found.

After five years, 24 percent of those who had surgery had died, compared to only 13 percent of those who chose monitoring. Just 3 percent of people in each group died of kidney cancer.

The study only involved people 66 and older, but half of all kidney cancers occur in this age group. Younger people with longer life expectancies should still be offered surgery, doctors stressed.

The study also was observational — not an experiment where some people were given surgery and others were monitored, so it cannot prove which approach is best. Yet it offers a real-world look at how more than 7,000 Medicare patients with kidney tumors fared. Surgery is the standard treatment now.

"I think it should change care" and that older patients should be told "that they don't necessarily need to have the kidney tumor removed," said Dr. William Huang of New York University Langone Medical Center. "If the treatment doesn't improve cancer outcomes, then we should consider leaving them alone."

He led the study and will give results at a medical meeting in Orlando, Fla., later this week. The research was discussed Tuesday in a telephone news conference sponsored by the American Society of Clinical Oncology and two other cancer groups.

In the United States, about 65,000 new cases of kidney cancer and 13,700 deaths from the disease are expected this year. Two-thirds of cases are diagnosed at the local stage, when five-year survival is more than 90 percent.

However, most kidney tumors these days are found not because they cause symptoms, but are spotted by accident when people are having an X-ray or other imaging test for something else, like back trouble or chest pain.

Cancer experts increasingly question the need to treat certain slow-growing cancers that are not causing symptoms — prostate cancer in particular. Researchers wanted to know how life-threatening small kidney tumors were, especially in older people most likely to suffer complications from surgery.

They used federal cancer registries and Medicare records from 2000 to 2007 to find 8,317 people 66 and older with kidney tumors less than 1.5 inches wide.

Cancer was confirmed in 7,148 of them. About three-quarters of them had surgery and the rest chose to be monitored with periodic imaging tests.

After five years, 1,536 had died, including 191 of kidney cancer. For every 100 patients who chose monitoring, 11 more were alive at the five-year mark compared to the surgery group. Only 6 percent of those who chose monitoring eventually had surgery.

Furthermore, 27 percent of the surgery group but only 13 percent of the monitoring group developed a cardiovascular problem such as a heart attack, heart disease or stroke. These problems were more likely if doctors removed the entire kidney instead of just a part of it.

The results may help doctors persuade more patients to give monitoring a chance, said a cancer specialist with no role in the research, Dr. Bruce Roth of Washington University in St. Louis.

Some patients with any abnormality "can't sleep at night until something's done about it," he said. Doctors need to say, "We're not sticking our head in the sand, we're going to follow this" and can operate if it gets worse.

One of Huang's patients — 81-year-old Rhona Landorf, who lives in New York City — needed little persuasion.

"I was very happy not to have to be operated on," she said. "He said it's very slow growing and that having an operation would be worse for me than the cancer."

Landorf said her father had been a doctor, and she trusts her doctors' advice. Does she think about her tumor? "Not at all," she said.

___

Online:

Kidney cancer info: http://www.cancer.net/cancer-types/kidney-cancer

and http://www.cancer.gov/cancertopics/types/kidney

Study: http://gucasym.org

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Firmer yen boosts Korean shares, underpins Asia stocks

TOKYO (Reuters) - Asian shares outside of Japan rose on Wednesday, led by South Korean exporters as the yen firmed amid conflicting interpretations of G7 comments about the currency's recent weakness.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> gained 0.9 percent.

Seoul shares <.ks11> outperformed with a 1.5 percent jump while Australian shares jumped 0.9 percent after record first-half earnings from the Commonwealth Bank of Australia boosted sentiment.

The Nikkei stock average <.n225> slumped 1.1 percent as the firming yen prompted investors to take profits on exporters. <.t/>

China, Taiwan and Hong Kong markets remain closed for the Lunar New Year holiday.

European markets will be mixed, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open between a 0.1 percent fall and a 0.4 percent gain. U.S. stock futures were up 0.1 percent to suggest a somewhat firmer Wall Street open. <.l><.eu><.n/>

Investors continued to seek cues from currency markets before a meeting of the Group of 20 finance ministers and central bankers in Moscow on Friday and Saturday, with growing international tensions over exchange rates.

At the center of the debate is Japan, where Prime Minister Shinzo Abe's government has made it clear that it will push for aggressive policies to beat stubborn deflation through drastic monetary expansion. Anticipation of much bolder Bank of Japan monetary policy has sent the yen into a steady decline, helping boost Japanese stocks to 33-month highs.

"The Japanese stock market may have rallied too strongly on expectations alone. I don't believe the Japanese government is manipulating currency rates, but it is maybe time that an equilibrium point may be sought for the yen's level given that some other countries may see weaker currencies as beneficial to their economies," said Yuuki Sakurai, CEO at Fukoku Capital Management in Tokyo.

The yen's respite from heavy selling eased concerns for investors in South Korea.

"The main board's rebound was driven by a break in the yen's weakness, following signs that the won's strength has abated somewhat," said Lim Dong-rak, an analyst at Hanyang Securities in Seoul.

The yen rallied on Tuesday, reversing the previous day's late selloff against the dollar and euro, after an official with the Group of Seven said it is worried about excess moves in the Japanese currency.

G7 governors and ministers reaffirmed their commitment that fiscal and monetary policies would not be directed at devaluing currencies, a statement meant to reassure investors that Tokyo was not aiming to guide the yen lower with its aggressive expansion of monetary policy.

"All these comments are merely stating the obvious and are not to be taken in the context of whether they are endorsing a weaker yen or not," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.

"What is being said is that monetary policy should be used to achieve domestic objectives and Japan is undertaking reflationary policies, not manipulating currency rates, and the result of that is a weak yen. What is asked for from Japan is to explain its policy clearly at the G20," Saito said.

The dollar dropped 0.6 percent to 92.95 yen after marking its highest level since May 2010 of 94.465 on Monday. The euro tumbled 0.6 percent to 125.01 yen, moving further away from its highest since April 2010 of 127.71 yen touched last week.

The BOJ ends a two-day policy meeting on Thursday, with markets expecting no fresh easing steps this time. But expectations are running high that further unprecedented measures will be taken under a new BOJ regime due to start next month after the terms of current top officials end.

"So far, the yen has been weakening on expectations for a bold monetary policy, and from now, Japan has to implement actual policy to justify such expectations," said Naohiko Baba, Japan chief economist at Goldman Sachs.

The euro steadied around $1.3450, keeping overnight gains made after European Central Bank President Mario Draghi said talk of a currency war was overdone, and that Spain was on the right track toward economic recovery.

In his annual State of the Union address, U.S. President Barack Obama proposed on Tuesday to hike the minimum wage by more than 20 percent, invest $50 billion on crumbling roads and bridges and spend $15 billion on a construction jobs program in a bid to boost economic growth.

U.S. crude was up 0.1 percent to $97.60 a barrel and Brent was steady around $118.61.

Palladium extended gains to a 17-month high as supply concerns sparked speculative buying, while gold edged up on demand from jewellers.

(Additional reporting by Joyce Lee in Seoul; Editing by Eric Meijer & Kim Coghill)

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IHT Rendezvous: IHT Quick Read: Feb. 13

NEWS In his State of the Union address, President Obama pledged to fight for a higher minimum wage, more government investment in schools and clean energy, and deficit reduction through spending cuts and tax increases. Mark Landler reports from Washington.

Whether or not Xi Jinping gets tough on North Korea could tell the United States what kind of leader he will be, and what kind of relationship he envisions with Washington. Jane Perlez reports from Beijing.

“It wasn’t one thing, but a whole combination of them” that caused Pope Benedict XVI to resign, a Vatican expert said. Scandals have battered the papacy relentlessly. Rachel Donadio reports from Vatican City.

Created five years ago to focus on training the armed forces of dozens of African nations and strengthening social, political and economic programs, the U.S. Pentagon’s Africa Command now finds itself on a more urgent mission: confronting a new generation of Islamist militants who are testing the United States’ resolve to fight terrorism without being drawn into a major conflict. Eric Schmitt reports from Niamey, Niger.

Seven top industrial nations, including the United States and Germany, pledged on Tuesday to let foreign exchange markets determine the value of their currencies. The statement eased fears in Japan, where officials had been under fire from some officials in Europe and the United States who said they were unfairly bringing down the yen’s value. James Kanter reports from Brussels and Annie Lowrey from Washington.

The Spanish Supreme Court ruled unexpectedly Tuesday that the previous government had gone too far in its pardon of Alfredo Sáenz, the chief executive of Banco Santander, reinstating his criminal record and throwing into question his continued tenure at the bank. Raphael Minder reports from Madrid.

Giuseppe Orsi of the the Italian state-controlled defense group Finmeccanica was arrested in an investigation centered on the sale of helicopters to the Indian government. David Jolly reports.

Ryanair, based in Dublin and Europe’s largest budget airline by number of passenger, said it had been informed at a meeting Tuesday with officials of the European Commission that Brussels “intends to prohibit” the airline’s nearly €700 million, or $942 million, bid for Aer Lingus. The company said its proposed concessions and remedies did not go far enough to allay antitrust concerns. Nicola Clark reports from Paris.

ARTS Valery Gergiev, the Russian conductor, is preparing to open the Mariinsky 2, his new theater for opera and ballet in St. Petersburg. Alison Smale reports.

FASHION In New York, collections are either beautiful expressions of a designer’s vision or forgettable shows suitable for those continuous loops in city cabs. Suzy Menkes reviews the shows.

SPORTS Wrestling, one of the earliest and most elemental Olympic sports, was dropped from the Summer Games on Tuesday in a stunning and widely criticized decision by the International Olympic Committee. Jeré Longman reports.

Jürgen Klopp has built a soccer club in Dortmund that consistently wins on an affordable payroll, so it is no surprise that many think he may soon head to one of the bigger clubs in Europe. Rob Hughes writes from London.

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Facebook stock slides after analysts’ downgrades

NEW YORK (AP) — Shares of Facebook Inc. fell Tuesday after two analysts downgraded the stock amid concerns about the company’s ability to grow ad revenue quickly enough, especially on mobile devices.

THE SPARK: Bernstein Research analyst Carlos Kirjner said that while Facebook’s advertising business still presents “significant untapped” opportunities, mobile ad revenue in the most recent quarter didn’t grow as fast as he’d expected. He cut his rating on the world’s largest online social network to “Market-Perform” from “Outperform” and lowered his target price to $ 27 from $ 33.

BTIG analyst Richard Greenfield, meanwhile, downgraded the stock to “Sell” from “Neutral.” He has a target price of $ 22.

ANALYST COMMENT: “Facebook management continues to focus investors on the increased ‘engagement’ with Facebook, as consumers shift from desktop usage to mobile usage,” Greenfield wrote in a note to investors.

That means people end up “touching” Facebook far more as they move to mobile use, since the Facebook app sends many of them notifications when their friends respond to their posts or for other reasons.

“Yet, the question Facebook has yet to answer is how mobile is affecting aggregate engagement, meaning total time spent on a monthly basis,” Greenfield added. “We suspect the more consumers shift to mobile, the less total time they are spending with Facebook.”

Facebook declined to comment. The company says it does not comment on stock price movements or analyst reports.

STOCK MOVEMENT: Facebook shares fell 89 cents, or 3.2 percent, to close at $ 27.37. The stock has lost close to 12 percent so far this month after enjoying an upswing since last October. Facebook went public at $ 38 last May and has not hit that price since.

Social Media News Headlines – Yahoo! News

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It's a Girl for John Cho

Mom & Babies
Celebrity Baby Blog

02/11/2013 at 06:30 PM ET

Paul Drinkwater/NBC

Surprise: Actor John Cho is a dad again!

The Go On star and his wife welcomed a daughter recently, Cho’s rep confirms to PEOPLE exclusively.

Baby girl is the second child for the couple, who are also parents to a son. No further details are available.

Cho currently stars alongside Jason Bateman in Identity Thief and will reprise his role as Hikaru Sulu in Star Trek Into Darkness in May.

He is also well known for his roles in American Pie and the Harold and Kumar films.

– Anya Leon with reporting by Julie Jordan

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Pope shows lifetime jobs aren't always for life

The world seems surprised that an 85-year-old globe-trotting pope who just started tweeting wants to resign, but should it be? Maybe what should be surprising is that more leaders his age do not, considering the toll aging takes on bodies and minds amid a culture of constant communication and change.

There may be more behind the story of why Pope Benedict XVI decided to leave a job normally held for life. But the pontiff made it about age. He said the job called for "both strength of mind and body" and said his was deteriorating. He spoke of "today's world, subject to so many rapid changes," implying a difficulty keeping up despite his recent debut on Twitter.

"This seemed to me a very brave, courageous decision," especially because older people often don't recognize their own decline, said Dr. Seth Landefeld, an expert on aging and chairman of medicine at the University of Alabama at Birmingham.

Age has driven many leaders from jobs that used to be for life — Supreme Court justices, monarchs and other heads of state. As lifetimes expand, the woes of old age are catching up with more in seats of power. Some are choosing to step down rather than suffer long declines and disabilities as the pope's last predecessor did.

Since 1955, only one U.S. Supreme Court justice — Chief Justice William Rehnquist — has died in office. Twenty-one others chose to retire, the most recent being John Paul Stevens, who stepped down in 2010 at age 90.

When Thurgood Marshall stepped down in 1991 at the age of 82, citing health reasons, the Supreme Court justice's answer was blunt: "What's wrong with me? I'm old. I'm getting old and falling apart."

One in 5 U.S. senators is 70 or older, and some have retired rather than seek new terms, such as Hawaii's Daniel Akaka, who left office in January at age 88.

The Netherlands' Queen Beatrix, who just turned 75, recently said she will pass the crown to a son and put the country "in the hands of a new generation."

In Germany, where the pope was born, Chancellor Angela Merkel, who is 58, said the pope's decision that he was no longer fit for the job "earns my very highest respect."

"In our time of ever-lengthening life, many people will be able to understand how the pope as well has to deal with the burdens of aging," she told reporters in Berlin.

Experts on aging agreed.

"People's mental capacities in their 80s and 90s aren't what they were in their 40s and 50s. Their short-term memory is often not as good, their ability to think quickly on their feet, to execute decisions is often not as good," Landefeld said. Change is tougher to handle with age, and leaders like popes and presidents face "extraordinary demands that would tax anybody's physical and mental stamina."

Dr. Barbara Messinger-Rapport, geriatrics chief at the Cleveland Clinic, noted that half of people 85 and older in developed countries have some dementia, usually Alzheimer's. Even without such a disease, "it takes longer to make decisions, it takes longer to learn new things," she said.

But that's far from universal, said Dr. Thomas Perls, an expert on aging at Boston University and director of the New England Centenarians Study.

"Usually a man who is entirely healthy in his early 80s has demonstrated his survival prowess" and can live much longer, he said. People of privilege have better odds because they have access to good food and health care, and tend to lead clean lives.

"Even in the 1500s and 1600s there were popes in their 80s. It's remarkable. That would be today's centenarians," Perls said.

Arizona Sen. John McCain turned 71 while running for president in 2007. Had he won, he would have been the oldest person elected to a first term as president. Ronald Reagan was days away from turning 70 when he started his first term as president in 1981; he won re-election in 1984. Vice President Joe Biden just turned 70.

In the U.S. Senate, where seniority is rewarded and revered, South Carolina's Strom Thurmond didn't retire until age 100 in 2002. Sen. Robert Byrd of West Virginia was the longest-serving senator when he died in office at 92 in 2010.

Now the oldest U.S. senator is 89-year-old Frank Lautenberg of New Jersey. The oldest congressman is Ralph Hall of Texas who turns 90 in May.

The legendary Alan Greenspan was about to turn 80 when he retired as chairman of the Federal Reserve in 2006; he still works as a consultant.

Elsewhere around the world, Cuba's Fidel Castro — one of the world's longest serving heads of state — stepped down in 2006 at age 79 due to an intestinal illness that nearly killed him, handing power to his younger brother Raul. But the island is an example of aged leaders pushing on well into their dotage. Raul Castro now is 81 and his two top lieutenants are also octogenarians. Later this month, he is expected to be named to a new, five-year term as president.

Other leaders who are still working:

—England's Queen Elizabeth, 86.

—Abdullah bin Abd al-Aziz al-Saud, king of Saudi Arabia, 88.

—Sabah al-Ahmad al-Jaber al-Sabah, emir of Kuwait, 83.

—Ruth Bader Ginsburg, U.S. Supreme Court associate justice, 79.

__

Associated Press writers Paul Haven in Havana, Cuba; David Rising in Berlin; Seth Borenstein, Mark Sherman and Matt Yancey in Washington, and researcher Judy Ausuebel in New York contributed to this report.

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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