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May 20, 2010

NASDAQ: Latest Forex News / Feature Forex Commentary. May 20th, 2010

 NASDAQ

Latest Forex News

MarketWatch: Personal Finance Daily.- May 10th, 2010

MarketWatch

Personal Finance Daily
MAY 20, 2010

Thursday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

The stock market is doing its volatile best to scare buy-and-hold investors and retirement savers. The Dow Jones Industrial Average ($INDU) lost 376 points Thursday, losing 3.6%, and the S&P 500 Index ($SPX) dropped about 43 points, also closing down almost 4%. With both indexes falling 10% or more from their closing highs in April, this marks the first official correction of the bull market that started on March 9, 2009.

What's a long-term investor to do? That'll depend a lot on who you are. You could note that stocks are a lot cheaper today than they were yesterday -- good news if you're dollar-cost-averaging into the market. On the other hand, if this volatility is setting your teeth on edge, it might be time to reconsider your investment choices.

Not that there are lots of good options out there right now. Read Robert Powell's Your Portfolio column for a look at where some investment experts are stashing their cash these days. (Hint: For some of them, it's not bonds.)

-- Andrea Coombes , Personal Finance editor

Bogle's in bonds, but should you be?

Jack Bogle and Chris Davis agree on many things, but they are at opposite ends of the spectrum when it comes to investing.
See Robert Powell's Your Portfolio.


REAL ESTATE

Mortgage rates fall to lowest level this year

Mortgage rates dropped again this week, with both the 15-year, fixed-rate mortgage and the 5-year, adjustable-rate mortgage falling to record lows, according to Freddie Mac's weekly survey of conforming mortgage rates.
See Mortgages.


INVESTING

Seven big mistakes people make when hiring advisers

I have given countless talks over the last 15 years to groups of people interested in hiring financial advisers or working better with the helpers they have, and I typically poll my audience to learn about their experiences.
See Chuck Jaffe.


Nuclear investing a tough sell, but can pay off

For investors who can push aside a troubled history, and their own squeamishness, the complex nuclear industry can offer a global play on the rising costs of commodities and increasing energy demand.
See Special Report: The Nuclear Option.


Fund industry reform is overdue, Bogle says

Jack Bogle, founder of the Vanguard Group, said the mutual-fund industry must take steps to improve itself and serve the investing public better, with money managers caring more about shareholders, corporate governance and long-term investing.
See FundWatch.


Treasury yields fall to lowest levels of 2010

Treasury prices rose on Thursday, pushing yields down to the lowest level in more than five months, as renewed uncertainty about policy actions in Europe and the impact on global economic growth weighed on U.S. stocks, increasing the relative attractiveness of U.S. debt.
See Bond Report.


PERSONAL TECH

Google unveils TV service in bid to expand into new market

Google Inc. (GOOG) on Thursday unveiled its widely anticipated Google TV service, a blending of television programming and Internet content that marks another attempt to expand into larger advertising markets.
See story on Google unveils TV service in bid to expand into new market.


ECONOMY & POLITICS

Commentary: Free-market forces have politicians on the run

Less than 20 months after unregulated derivatives trading almost destroyed the global financial system, and less than 20 days after unexplained electronic-trading systems gave the U.S. stock market a 1987-crash-like scare, the siren song of free-market capitalism is fully back in the driver's seat when it comes to regulation. Politicians the world over are on the run, and investors should be scared.
See David Callaway.


Senate clears bank-reform bill for a vote

The Senate voted narrowly Thursday to close off debate on a sweeping bank-reform bill, setting the stage for a vote on legislation that would change the rules of American capitalism.
See story on Senate clears bank-reform bill for a vote.


Jobless claims jump by 25,000

The number of people applying for unemployment benefits shot up 25,000 in the latest week, indicating continued weakness in the U.S. job market, government data showed.
See Economic Report.


Deepwater Horizon disaster now marks one month

The daily volume of oil being collected from the leak at the floor of the Gulf of Mexico is now around 5,000 barrels, BP PLC (BP) said Thursday, as the environmental disaster marks one month since the Deepwater Horizon rig exploded in a fireball.
See story on Gulf of Mexico disaster.


Banks post best profit in two years in first quarter, FDIC says

The Federal Deposit Insurance Corporation said on Thursday that the banks and thrifts it insures earned $18 billion in the first quarter, well above the $5.6 billion they earned a year ago, and the highest profit since the first quarter of 2008.
See story on banks post best profit in two years.


TRAVEL

10 great trips you've probably never heard of

As the economy shows signs of life, more people are pulling their bags out of closets and returning to the road.
See story on 10 great trips you've probably never heard of.

CNBC: Latest Stories: Stocks to Tumble Another 20%, Cash the Safest Place: Roubini . May 20th, 2010

LATEST STORIES


»click here to see the latest top stories from CNBC.com

Forbes Asia: Latest Stories.- Prospects For The U.S.-China Summit. May 20th, 2010


FORBERS ASIA

Latest Stories

Prospects For The U.S.-China Summit

Prospects For The U.S.-China Summit
What a difference a year makes.
Read More Read More

Beware Of Americans Proselytizing Chinese Economic Models

Beware Of Americans Proselytizing Chinese Economic Models
China's re-embrace of greater central planning will be brief.
Read More Read More

BYD's Electric Taxis Hit Shenzhen's Streets

BYD's Electric Taxis Hit Shenzhen's Streets
The automaker's deal with the city of Shenzhen blurs the lines between public and private.
Read More Read More

Coke, Pepsi Or Kong

Coke, Pepsi Or Kong
Taiwanese beverage company goes after the soda kings in China.
Read More Read More

Lessons From Japan's Trade Policies

Lessons From Japan's Trade Policies
China could take a tip from the easy access Japan granted foreign businesses.
Read More Read More
Click for updates: forbes.com/asia

RTTYNews: Evening Market Wrap: Stocks Sink To Three Month Lows As European Debt Concerns Remain - U.S. Commentary. May 20th, 2010

Evening Market WrapThu May 20 17:01 2010  

Commentary

May 20, 2010 Stocks Sink To Three Month Lows As European Debt Concerns Remain - U.S. Commentary Stocks saw heavy losses on Thursday, as the markets once again focused on the long-reaching impact of European financial woes. Some disappointment on the U.S. economic front also prompted selling pressure in the volatile markets. The major averages ended firmly lower, at their worst closing levels in three months. Full Article
May 20, 2010 Major Averages Sink To Three Month Lows As European Debt Concerns Remain Stocks saw heavy losses on Thursday, as the markets once again focused on the long-reaching impact of European financial woes. Some disappointment on the U.S. economic front also prompted selling pressure in the volatile markets. The major averages ended firmly lower, at their worst closing levels in three months. The Dow fell over 376 points, adding to yesterday's 66 point drop. Full Article

Economic News

May 20, 2010 Jobless Claims Unexpectedly Show Biggest Increase In Three MonthsAfter falling for four consecutive weeks, first-time claims for unemployment benefits unexpectedly showed a notable increase in the week ended May 15th, according to a report released by the Labor Department on Thursday. Full Article
May 20, 2010 Leading Economic Index Falls For First Time In Over A YearThursday morning, the Conference Board released its report on leading economic indicators in the month of April, showing that its leading economic indicators index unexpectedly declined for the first time in more than a year. Full Article
May 20, 2010 Philly Fed Index Points To Continued Expansion In Regional ManufacturingManufacturing activity in the mid-Atlantic region has continued to expand in May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of activity in the manufacturing sector increasing by more than anticipated. Full Article

Corporate News

May 20, 2010 Staples Q1 Profit Rises, Tops Street ViewOffice products company Staples Inc. (SPLS) Thursday reported a higher profit for the first quarter of fiscal 2010, driven by improved sales across all three business segments. Earnings per share surpassed analysts' forecast by a penny. Full Article
May 20, 2010 Computer Sciences Posts Lower Q4 ProfitComputer Sciences Corp. (CSC), a provider of information technology services, Thursday reported a decline in profit for the fourth quarter of fiscal 2010, reflecting favorable tax audit settlements in the year-ago quarter and higher expenses in the current quarter. Full Article
May 20, 2010 Ross Stores Q1 Profit Surges 56%, Lifts 2010 OutlookOff-price retail chain Ross Stores, Inc. (ROST) reported Thursday a 56% year-over-year surge in profit for the first quarter, boosted by strong margin expansion and a 14% quarterly sales growth. Comparable store sales were up 10%. Full Article
May 20, 2010 Patterson Companies Q4 Profit Rises, Tops View; Guides 2011 Profit In LineDental and veterinary products distributor Patterson Companies, Inc. (PDCO) reported Thursday a 14.5% year-over-year increase in profit for the fourth quarter, boosted by margin expansion and a 4% sales growth. Full Article
May 20, 2010 Sears Holdings Q1 Profit Declines On Lower MarginsBroadline retailer Sears Holdings Corp. (SHLD) Thursday reported a decline in earnings for the first quarter, impacted mainly by lower margin rates. The Hoffman Estates, Illinois-based company's net income for the quarter attributable to shareholders was $16 million or $0.14 per share. Full Article
May 20, 2010 National Grid FY10 Pre-tax Profit Rises; To Raise About GBP 3.2 Bln Through Rights IssueElectricity and gas company National Grid Plc (NG.L, NGG) Thursday reported a 12% increase in fiscal 2010 pre-tax profit, reflecting lower operating costs, despite a decline in yearly revenues. The profit growth also reflects a gain from exceptional items, remeasurements and stranded cost recoveries. Full Article
May 20, 2010 Ursula Burns Succeeds Anne Mulcahy As Xerox ChairmanOffice equipment manufacturer Xerox Corp. (XRX) announced Thursday at the annual meeting of shareholders that Chief Executive Officer Ursula Burns has assumed the additional role of chairman, effective today. Burns succeeds Anne Mulcahy, who retired from the company today. Full Article
May 20, 2010 GameStop Q1 Profit Tops Estimate; Guides Q2 Below ViewVideo game and entertainment software retailer GameStop Corp. (GME) on Thursday reported a 7% increase in profit for the first quarter, boosted by higher sales of new video game software, including "Battlefield Bad Company 2" and "God of War III". Both earnings per share and revenue for the quarter topped analysts' expectations. Full Article
May 20, 2010 Dollar Tree Q1 Profit Beats Street View; Lifts FY10 ForecastDiscount retailer Dollar Tree Inc. (DLTR) Thursday reported higher profit for the first quarter of fiscal 2010, helped by growth in sales that reflected increases in traffic and average ticket. Adjusted earnings per share rose nearly 40% from last year and exceeded analysts' estimate by a wide margin. Full Article

Commodities

May 20, 2010 Oil Continues Decline On European Woes Oil prices suffered another decline Thursday as euro-zone fiscal worries continued to drive investors away from risky assets. An unexpected increase in US weekly jobless claims also added to doubts about global economic growth. However, the prices recovered from day's lows after the euro bounced back against the dollar. Full Article

Forex Top Story

May 20, 2010 Dollar Widely Mixed Amid European Contagion FearsThe dollar was hammered by the resurgent yen, but surged to a new yearly high versus the sterling as traders fled riskier assets amid growing fears that the Eurozone debt crisis could pose a systemic risk to the global economic recovery. Full Article

Political News

May 20, 2010 Financial Reform Hits Speedbump As Democrats DefectEfforts to end debate on financial regulatory reform in the Senate hit a speedbump Wednesday, as two Democrats voted against a cloture motion. Senators Russ Feingold, D-Wis., and Maria Cantwell, D-Wash., joined with all but two Republicans in voting against cloture, leaving the final vote at 57-42. Full Article
May 20, 2010 Senate Votes To End Debate On Wall Street ReformFinancial regulatory reform took another step towards becoming reality Thursday, when the Senate voted to end debate on the massive Wall Street overhaul legislation. The 60-40 vote was the second time that Senate Democrats tried to end debate on the legislation. Full Article
May 20, 2010 House Republicans Send Letter To Fiscal Commission Opposing Value-Added TaxRepresentative Joe Pitts, R-Penn., Thursday led 154 House Republicans in sending a letter to Erskine Bowles and Alan Simpson, Co-Chairs of the National Commission on Fiscal Responsibility and Reform, asking them to oppose a new value-added tax. Full Article
May 20, 2010 Lincoln Receives Support From Bill Clinton In Re-Election BidAs she enters into a run-off election in Arkansas' U.S. Senate race with Bill Halter, Senator Blanche Lincoln, D-Ark., has received the endorsement of former President Bill Clinton. Lincoln is set to launch her "Countdown to Victory" tour on May 28th in the Little Rock-North Little Rock area. Full Article
May 20, 2010 Senate Democrats Urge Obama To Order Inspections Of All Offshore Oil RigsWith the Deepwater Horizon oil spill now threatening Florida and possibly the East Coast, Senate Democrats are urging President Barack Obama to order inspections of all offshore oil rigs. Full Article

US Treasury Markets

May 20, 2010 Treasuries Close Sharply Higher As EU Debt Worries Dominate Sentiment Treasuries surged higher on Thursday, as uncertainty regarding the economic future of the European Union once again drove traders to the safety of government backed bonds, while riskier investments such as stocks suffered on the day. Some disappointment on the U.S. economic front also may have prompted additional buying interest in the securities markets. Full Article

Financial: Your Million-Dollar Gift To Wall Street

Having trouble reading this e-mail? Click here for mobile version.
Forbes.com
 
 

FORBES.COM FINANCIAL NEWSLETTER MAY 20, 2010

Your Million-Dollar Gift To Wall Street
Richard A. Ferri
Ignore this article if you enjoy giving your money to millionaires.

Rothify Your 401(k)
Ashlea Ebeling
Got an ex-employer retirement account sitting around? You can convert it--and maybe your current 401(k), too--into a Roth IRA.

The Problem With Absolute Return Funds
David K. Randall
Mutual fund outfits are selling the glamour and mystique of hedge fund strategies. You'd be better off with a plain old balanced fund.

States Become Fiscal Hawks
Stephane Fitch and Christopher Steiner
With state and local finances at the breaking point, citizens are pushing for a profound political realignment. So profound that it may one day bring fiscal sanity even to Washington.

How To Save On Taxes And Brokerage Costs
William Baldwin
Never miss a chance to cut taxes and trading expenses. Here's a case study.

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THE WALL STREET JOURNAL: Stocks Fall as Strains Accumulate . May 20th, 2010


THE WALL STREET JOURNAL

Stocks Fall as Strains Accumulate 

Stocks tumbled as investors' fears over euro-zone debt grew, pushing key market measures below their 200-day moving averages and on pace for technical corrections.
The broad retreat came on mounting worries over Europe's will to address its debt woes as unions went on strike in Greece and investors fretted that trading regulations like those introduced this week in Germany could be adopted in other countries.
In the U.S., stocks linked to commodities and smaller companies bore the brunt of the selling.
"Fear is elevating at this point," said Adam Sarhan, chief executive of Sarhan Capital. "A lot of people are concerned, if the European Union stepped up and gave $1 trillion, and it wasn't enough, how much is?"
The Dow Jones Industrial Average was down 258 points, or 2.5%, to 10184, in recent trading. The Standard & Poor's 500 index fell 31 points, or 2.8%, to 1085. The selling intensified after the measures broke below their 200-day moving averages, at 10258 and 1102, respectively.
"The fact that they broke below them today after finding support there two weeks ago after the 'flash crash' suggests the bears are getting stronger," Mr. Sarhan said.
In addition, 1100 was a key psychological level for the S&P 500, and traders said the drop below it fueled more selling.
The S&P 500 was also on pace to post a correction of 10% from its 2010 high last month, along with the Nasdaq Composite, which was recently down 73 points, or 3.2%, at 2225. If the S&P 500 remains below 1096 through the close, and the Nasdaq is still below 2278, the measures will be down more than 10% from their 52-week closing highs reached in late April.
The industrial, energy and materials sectors were getting hit hardest, in what Mr. Sarhan described as a broad move "away from the pro-growth story." The Dow's leading decliners included Alcoa, which dropped 2.8%, Caterpillar, which fell 2.5%, and Boeing, which slid 4.4%.
Reflecting the market's heightened unease, the CBOE Market Volatility Index jumped to its highest point since April 2009, gaining 24% to reach an intraday high above 43.
New data added to the worries about the economy. The Labor Department said that initial claims for jobless benefits rose by 25,000 to 471,000 in the week ended May 15. Economists had predicted claims would fall by 4,000. In addition, the Conference Board's index of leading economic indicators fell in April for the first time since March 2009.
"Now we're starting to see a little bit of a change in the tenor of these economic figures," Mr. Sarhan said. "If the U.S. is going to begin to slow down after such a strong rally, and Europe is slowing down, that begs the question who's going to help us?"
The euro fell to $1.2347 from $1.2391 late Wednesday and the cost of insuring European corporate bonds against default rose sharply following comments by Jean-Claude Juncker, chairman of the Eurogroup forum of euro-zone finance ministers. He played down speculation that the authorities would intervene to arrest the euro's decline, saying he doesn't believe there is any need for immediate action. Rumors of possible intervention had prompted the euro to bounce off four-year lows Wednesday.
The euro was also weighed down by uncertainty over whether other euro-zone countries would follow Germany's ban on naked short sales of certain investments. The European Commission, the European Union's executive arm, suggested Germany acted peremptorily on an issue that would be discussed by all EU finance ministers on Friday.
Markets are also awaiting a crucial vote Friday in the German parliament over its contribution to the European Union/International Monetary Fund rescue package.
The U.S. Dollar Index, reflecting the U.S. currency against a basket of six others, rose 0.1%. Treasurys also advanced, pushing the yield on the 10-year note down to 3.24%. Crude-oil futures fell, as did gold futures.

THE WALL STREET JOURNAL: Merkel Pushes G-20 for financial Reform. mAY 20TH, 2010

THE WALL STREET JOURNAL

Merkel Pushes G-20 for Financial Reform

BERLIN—German Chancellor Angela Merkel said Thursday she will push her Group of 20 counterparts to accelerate steps to tighten political control over financial markets and add new taxes on banks.
Ms. Merkel also said she will push G-20 leaders to coordinate their strategies as they look to withdraw stimulus measures enacted during the financial crisis.
Michael Sohn/Associated Press
German Chancellor Angela Merkel speaks at the German Finance Ministry in Berlin on Thursday.
2merkel0520
2merkel0520
The German leader was speaking at a conference of finance ministers from a number of the G-20 nations to discuss new financial regulations the group will consider at a June summit in Toronto.
"I am very concerned that we will be able to agree on a similarly coordinated—as we did stimulus measures—international agreement on exit strategies," said Ms. Merkel.
She also pushed for a financial-transaction tax on banks, or a financial-activities tax, which would be applied to financial institutions' profits and bonus payments. These would come on top of the bank levy that Germany plans to implement, party officials said.
Germany's cabinet has recently proposed an annual levy on banks' balance sheets, excluding customers' deposits, that could generate up to €1.2 billion ($1.49 billion) annually. "We will lobby in Canada for the financial market to be taxed in addition to the levy," Ms. Merkel said, referring to next month's meeting.
She warned that Europe would insist on pushing for achieving sustainable economic growth that isn't based on budget deficits that are too high, and she criticized the U.K. and U.S. approach of waiting for the labor market to stabilize before cutting deficits.
WORLD AT A GLANCE from The Wall Street Journal

May 20, 2010 -- 11:15 a.m. EDT

___________________________________
WORLD

German Chancellor Angela Merkel said she will push her Group of 20 counterparts to accelerate steps to tighten political control over financial markets and add new taxes on banks. She also said she will push G-20 leaders to coordinate their strategies as they look to withdraw stimulus measures enacted during the financial crisis.

http://online.wsj.com/article/SB10001424052748703559004575256051573932296.html?mod=djemWorldAtGlance

U.S. stocks took an early dive as concerns over the euro zone prompted a broad retreat from risky assets and sent the main market indexes on pace to post technical corrections. Worries mounted over Europe's will to address its debt woes as unions went on strike in Greece and investors fretted that new trading regulations in Germany could spread, sparking a broad retreat from many markets. In the U.S., stocks linked to commodities and smaller companies bore the brunt of the selling.

http://online.wsj.com/article/SB10001424052748703559004575255961695406510.html?mod=djemWorldAtGlance


In a troubling sign for the U.S. labor market, the number of workers filing new claims for unemployment benefits unexpectedly surged last week to wipe out most of the recent declines. The Labor Department said in its weekly report that initial claims for jobless benefits rose by 25,000 to 471,000 in the week ended May 15.

http://online.wsj.com/article/SB10001424052748703559004575256112299027150.html?mod=djemWorldAtGlance

A lone thief stole five paintings possibly worth hundreds of millions of euros, including major works by Picasso and Matisse, police and prosecutors said, in a brazen overnight heist from the Paris Museum of Modern Art.

http://online.wsj.com/article/SB10001424052748703559004575255903983038016.html?mod=djemWorldAtGlance

China urged restraint after South Korea formally accused North Korea of sinking one of its warships two months ago, spotlighting the country's decisive role in what happens next. South Korean markets and its currency fell after North Korea issued a swift, bellicose denial.

http://online.wsj.com/article/SB10001424052748703691804575255162754594880.html?mod=djemWorldAtGlance


BUSINESS

After months of negotiations, Dubai World said it has agreed in principle with its main creditors to restructure $23.5 billion of debt, lifting a cloud of uncertainty that hung over the emirate's economy. The government-owned conglomerate will now seek a final deal with all of its creditors by the end of June, said Aidan Birkett, chief restructuring officer of Dubai World.

http://online.wsj.com/article/SB10001424052748703559004575255590951351192.html?mod=djemWorldAtGlance

Google co-founder Sergey Brin said the Internet giant "screwed up" by collecting personal data through wireless networks and promised new oversight as European officials pledged to open investigations of the data collection.

http://online.wsj.com/article/SB10001424052748703691804575254410223351460.html?mod=djemWorldAtGlance


As the U.S. stock market spiraled out of control two weeks ago, two major firms that handle trades for retail brokerages suffered trading breakdowns. One, the big Chicago hedge-fund firm Citadel Investment, stopped taking orders for a number of securities, according to an internal email and people familiar with the matter. Shortly after the market plunged, Citadel asked clients, including discount brokers such as E*Trade Financial and TD Ameritrade Holding, to route orders elsewhere.

http://online.wsj.com/article/SB10001424052748704691304575254842975842532.html?mod=djemWorldAtGlance


The U.K.'s Court of Appeal overturned an injunction that prevented a strike by cabin crew at British Airways, clearing the way for industrial action. Unite, the union that represents cabin crew, called for negotiations with the U.K. flag carrier and said it wouldn't strike before Monday.

http://online.wsj.com/article/SB10001424052748703559004575255924153223824.html?mod=djemWorldAtGlance

In one of its toughest moves yet, the U.K. Financial Services Authority fined former stockbroking executive Simon Eagle £2.8 million ($4 million) and banned him from working in the financial-services industry. The FSA said Eagle in 2003 and 2004 used SP Bell, a stockbroking company he owned, to "embark on a course of market abuse" to ramp up the share price of Fundamental-E Investments, a company listed on London's junior Alternative Investment Market.

http://online.wsj.com/article/SB10001424052748703559004575255883398100018.html?mod=djemWorldAtGlance

THE WALL STREET JOURNAL World at Glance. May 20th, 2010

THE WORLD STREET JOURNAL

WORLD AT A GLANCE from The Wall Street Journal

May 20, 2010 -- 11:15 a.m. EDT
WORLD

German Chancellor Angela Merkel said she will push her Group of 20 counterparts to
accelerate steps to tighten political control over financial markets and add new taxes on
banks. She also said she will push G-20 leaders to coordinate their strategies as they look
to withdraw stimulus measures enacted during the financial crisis.

http://online.wsj.com/article/SB10001424052748703559004575256051573932296.html?mod=
djemWorldAtGlance

U.S. stocks took an early dive as concerns over the euro zone prompted a broad retreat from
 risky assets and sent the main market indexes on pace to post technical corrections. Worries
mounted over Europe's will to address its debt woes as unions went on strike in Greece and
investors fretted that new trading regulations in Germany could spread, sparking a broad
retreat from many markets. In the U.S., stocks linked to commodities and smaller companies
bore the brunt of the selling.

http://online.wsj.com/article/SB10001424052748703559004575255961695406510
.html?mod=djem
WorldAtGlance

In a troubling sign for the U.S. labor market, the number of workers filing new claims for
unemployment benefits unexpectedly surged last week to wipe out most of the recent declines
. The Labor Department said in its weekly report that initial claims for jobless benefits rose
by 25,000 to 471,000 in the week ended May 15.

http://online.wsj.com/article/SB10001424052748703559004575256112299027150.html?mod=djemWorldAtGlance

A lone thief stole five paintings possibly worth hundreds of millions of euros, including major
works by Picasso and Matisse, police and prosecutors said, in a brazen overnight heist from
the Paris Museum of Modern Art.

http://online.wsj.com/article/SB10001424052748703559004575255903983038016.html?mod=djemWorldAtGlance

China urged restraint after South Korea formally accused North Korea of sinking one of
its warships two months ago, spotlighting the country's decisive role in what happens next.
South Korean markets and its currency fell after North Korea issued a swift, bellicose denial.
http://online.wsj.com/article/SB10001424052748703691804575255162754594880.html?mod=djem
WorldAtGlance

BUSINESS

After months of negotiations, Dubai World said it has agreed in principle with its main
creditors to restructure $23.5 billion of debt, lifting a cloud of uncertainty that hung over
the emirate's economy. The government-owned conglomerate will now seek a final deal
with all of its creditors by the end of June, said Aidan Birkett, chief restructuring officer
of Dubai World.

http://online.wsj.com/article/SB10001424052748703559004575255590951351192.html?mod=djem


Google co-founder Sergey Brin said the Internet giant "screwed up" by collecting personal
data through wireless networks and promised new oversight as European officials pledged to open investigations of the data collection.

http://online.wsj.com/article/SB10001424052748703691804575254410223351460.html?mod=djemWorldAtGlance
As the U.S. stock market spiraled out of control two weeks ago, two major firms that handle
trades for retail brokerages suffered trading breakdowns. One, the big Chicago hedge-fund
firm Citadel Investment, stopped taking orders for a number of securities, according to an
internal email and people familiar with the matter. Shortly after the market plunged, Citadel
asked clients, including discount brokers such as E*Trade Financial and TD Ameritrade
Holding, to route orders elsewhere.
http://online.wsj/arti/SB10001424052748704691304575254842975842532.html?mod=djemWorldAtGlance

The U.K.'s Court of Appeal overturned an injunction that prevented a strike by cabin crew at British Airways, clearing the way for industrial action. Unite, the union that represents cabin crew, called for negotiations with the U.K. flag carrier and said it wouldn't strike before Monday.

http://online.wsj.com/article/SB10001424052748703559004575255924153223824
.html?mod=djem
WorldAtGlance

In one of its toughest moves yet, the U.K. Financial Services Authority fined former
stockbroking executive Simon Eagle £2.8 million ($4 million) and banned him from working
in the financial-services industry. The FSA said Eagle in 2003 and 2004 used SP Bell,
a stockbroking company he owned, to "embark on a course of market abuse" to ramp up
the share price of Fundamental-E Investments, a company listed on London's junior
Alternative Investment Market.

http://online.wsj.com/article/SB10001424052748703559004575255883398100018
.html?
mod=djemWorldAtGlance

Merkel Pushes G-20 for Financial Reform

Deals Today

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Good Morning Fernando, THU 20 May 2010 
MF Global's new CEO would have had a far harder time slashing costs this way at his last job. As Governor of New Jersey, Jon Corzine faced huge budget deficits, an unwieldy management structure and stagnant income – arguably far worse conditions than exist at the futures and options trading brokerage he is running now.

While it might be nasty, if not cynical, to suggest he was happy about putting up to 15 percent of his workforce out on the street, he would have certainly enjoyed an immediately satisfying impact. "We are weeding out low-performing businesses," he said on a conference call with investors, enjoying the power of voters being shareholders rather than employees. MF is also freezing new hiring, reducing compensation, and eliminating or postponing initiatives that are not central to the company's direction.

MF Global could see net benefits of $59 million to $75 million, or 22 cents to 28 cents per share, from cost-cutting in 2011, according to an analyst note from Ticonderoga Securities. The stock was up by late morning, reversing a sharp early loss and defying the gravity of a sharp retreat in the overall market. Even if it took traders an hour or two to decide the decisive action outweighed surprising news of a first-quarter loss, at least he didn't have to wait for a poll.

--Chris Kaufman

 
Symantec to buy VeriSign security business
Up to 20 bidders interested in Novell: report
Dubai World in $23.5 billion debt deal with core banks
One U.S. IPO rises in debut, one falls
Private equity firms hungry for Unilever's Findus: report
Draft rules to hamper hedge fund access to Europe: lobby group
BASF eyes larger takeovers in Asia: exec in paper
Peabody spurned, but still hunting in Australia
BHP, Origin circle Australia's Alinta assets: sources
Pernod CEO does not exclude China buys

Symantec to buy VeriSign security business
May 20, 2010 08:00 AM ET
SAN FRANCISCO (Reuters) - Symantec Corp agreed to buy VeriSign Inc's widely used technology for securing payments over the Internet in a deal worth $1.28 billion, the companies said on Wednesday.

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Up to 20 bidders interested in Novell: report
May 20, 2010 07:18 AM ET
NEW YORK (Reuters) - As many as 20 bidders are interested in buying software company Novell Inc , which has put itself up for sale and is this week accepting bids, the Wall Street Journal reported on Wednesday.

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Dubai World in $23.5 billion debt deal with core banks
May 20, 2010 11:22 AM ET
DUBAI (Reuters) - Dubai World, the state-owned conglomerate, has reached a deal to restructure $23.5 billion in debt with its core lenders, addressing the most immediate of a string of problems facing investors in Dubai.

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One U.S. IPO rises in debut, one falls
May 20, 2010 10:51 AM ET
NEW YORK (Reuters) - Shares of healthcare revenue management company Accretive Health Inc rose in its market debut on Thursday while shares of Internet marketing company ReachLocal Inc fell.

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