user: Q: Verizon Changes the TV Conversation

Hey, TV networks: Two can play at this game.

That may be the not-so-subliminal message underlying Verizon Communications’ move to offer subscribers smaller bundles of TV channels through its FiOS TV service. Under the new plans, customers get broadcast channels and a handful of other “base” networks. They can then select from among channel packs organized around themes, such as children’s channels, sports and news and information.

A: Verizon’s new FiOS TV offering, including smaller bundles of channels, should win it fans among consumers. But it is ruffling feathers at ESPN.


Q: UPDATE 3-Macy's cuts full-year sales forecast, forms China venture

* Second-quarter sales down 2.6 percent, fourth drop in 6 quarters

* Same-store sales take surprise 1.5 percent fall

* Macy's expects $50 million in sales from China in 2016

Aug 12 (Reuters) - U.S. retailer Macy's Inc lowered its full-year sales forecast on Wednesday and reported weaker-than-expected quarterly results, hurt by heavy discounts and a strong dollar that curbed spending by foreign tourists.

The company, whose shares fell 4 percent, also said it formed a joint venture in China, Macy's China Ltd, that will start by selling products on Alibaba Group Holdings Ltd's Tmall Global marketplace.

Chief Financial Officer Karen Hoguet said earnings in the second quarter ended on Aug. 1 were below the company's expectations as consumers spent more on restaurants, recreational services, healthcare and electronics rather than general merchandise, apparel and furnishings.

"Our performance in the first half of the year was not as strong as we had hoped, but we are cautiously optimistic about our ability to improve this sales trend in the fall season," she said.

Hoguet said the company lowered its full-year sales forecast primarily because of the weaker-than-expected performance in the first half.

Macy's said it now expected total fiscal-year sales to fall about 1 percent, compared with a previous outlook for growth of about 1 percent. The company forecast flat sales at stores open at least a year, including licensed departments.

Macy's also said it would invest $25 million in its Chinese joint venture with Hong Kong-based Fung Retailing in the next 18 months. Macy's will own 65 percent of the venture and expects sales of about $50 million from China in 2016.

Hoguet said the company was not planning to open stores in China but might consider doing so later.

Macy's also said it would sell part of its nine-storey Fulton Street store in Brooklyn to real estate company Tishman Speyer for $170 million. Macy's will get an additional $100 million over three years and continue to own and operate four floors.

Pressured by investor Starboard Value to consider spinning off its real estate, Macy's said it had hired advisers to study the portfolio.

Same-store sales fell 1.5 percent in the second quarter. Analysts on average had expected a 1.3 percent rise, according to research firm Consensus Metrix.

Net income fell 26 percent to $217 million, or 64 cents per share. Analysts on average had expected 76 cents per share, according to Thomson Reuters I/B/E/S.

Net sales declined 2.6 percent to $6.10 billion, the fourth drop in six quarters. The analysts' average estimate was $6.23 billion.

(Reporting by Sruthi Ramakrishnana in Bengaluru and Nandita Bose in Chicago, Editing by Kirti Pandey and Lisa Von Ahn)

A: *Macy's expects $50 million in sales from China in 2016. Aug 12- U.S. retailer Macy's Inc lowered its full-year sales forecast on Wednesday and reported weaker-than-expected quarterly results, hurt by heavy discounts and a strong dollar that curbed spending by foreign tourists. The company, whose shares fell 4 percent, also said it formed a joint venture in China,...


Q: Pictures in the News | December 6, 2011

Moscow — A member of the pro-Kremlin youth movement Stal (Steel) wearing a Darth Vader mask participates in a post-election rally. Prime Minister Vladimir Putin said Tuesday he was satisfied with the performance of his party in Russia's parliamentary election even though it lost a significant number of seats, adding that a drop in support is "inevitable" for any ruling party.

PHOTOGRAPH BY: Sergey Ponomarev / Associated Press

Moscow — Supporters of the ruling United Russia Party celebrate election results at a rally. United Russia retained solid control of parliament despite obtaining a shade less than half the vote in the election.

PHOTOGRAPH BY: YURI KOCHETKOV / European pressphoto agency

Moscow — Police detain an activist during a rally protesting the election results and government policies. Opposition leaders organized a second mass protest in two days against Vladimir Putin's 12-year rule despite warnings of a police crackdown and the jailing of one of the organizers.

PHOTOGRAPH BY: SERGEI KARPUKHIN / Reuters

Szymbark, Poland — Children wait for sweets to be tossed out during the eighth National Santa Claus Congress organized under the auspices of Children's Ombudsman Marek Michalak at the Center for Education and Regional Promotion.

PHOTOGRAPH BY: BARBARA OSTROWSKA / European Pressphoto Agency

Vilnius, Lithuania — People walk past a Christmas tree erected on Cathedral Square in the Lithuanian capital.

Maierhoefen, Germany — An art installation of Bavarian costumes made of red plastic stands out against blowing snow as winter weather takes hold in Germany's western Allgaeu region.

PHOTOGRAPH BY: KARL-JOSEF HILDENBRAND / European pressphoto agency

Wahiawa, Hawaii — A soldier holds a girl as members of the 25th Infantry Division returning from Iraq are greeted by family and friends at Wheeler Army Airfield. Communities in Hawaii are welcoming soldiers home from overseas deployment while preparing to commemorate the 70th anniversary Wednesday of the attack on Pearl Harbor.

PHOTOGRAPH BY: Kent Nishimura / Getty Images

New Delhi — Shia Muslim women grieve ceremonially during a religious procession of the Ashura mourning period in New Delhi. Hundreds of Muslims in New Delhi and thousands around India took part in processions marking the 10th day of the Islamic month of Muharram, when they remember the killing of Imam Hussain, grandson of the Prophet Muhammed, who was martyred at the Battle of Karbala.

PHOTOGRAPH BY: Daniel Berehulak / Getty Images

Karachi, Pakistan — A Pakistani Sunni Muslim spits fire during an Ashura procession.

PHOTOGRAPH BY: RIZWAN TABASSUM / AFP / Getty Images

Manchester, England — Artist Stephen Maxwell Campbell works on his latest canvas in the Castlefield industrial heritage area of Manchester. Campbell paints his scenes using his own homemade paint and uses a distorted photographic perspective to some of his work. He has been commissioned by art galleries, libraries and private collectors.

PHOTOGRAPH BY: Christopher Furlong / Getty Images

Madrid — A Spanish military officer participates in the raising of the Spanish flag during celebrations of the 33rd anniversary of the adoption of the national constitution.

PHOTOGRAPH BY: Daniel Ochoa de Olza / Associated Press

Drenas, Serbia — Kosovar laborers work on a new construction site at the Drenas Business Park. Serbia has recognized Kosovo's independence by accepting an EU-brokered agreement on joint management of disputed border crossings.

PHOTOGRAPH BY: ARMEND NIMANI / AFP / Getty Images

Kabul, Afghanistan — A woman screams amid the dead and injured after an explosion at a shrine in central Kabul where Shia Muslims were marking the Day of Ashura.

PHOTOGRAPH BY: MASSOUD HOSSAINI / AFP / Getty Images

A:

assistant: Pictures in the News from around the world.