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May 31, 2011

Financial & Forex Info | Kitco Market Hourly Report

New York Market Close May 31/11 05:22 PM EDT

Financial & Forex Info | Reuters - Daily Investor Upadte: Greece hopes buoy Wall Street but investors still wary

Greece hopes buoy Wall Street but investors still wary
NEW YORK (Reuters) - Wall Street bulls took the upper hand with a 1 percent rally on Tuesday as hopes for a new plan to deal with Greece's debt crisis relieved some investor worry, but grim economic data suggested more hurdles ahead as the S&P 500 closed out its worth month since August. | Full Article

Weak data point to sluggish economy
May 31, 2011 03:52 PM ET
NEW YORK (Reuters) - A double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy's soft patch could become protracted. | Full Article
Gas prices likely dampened May retail sales
May 31, 2011 03:50 PM ET
NEW YORK (Reuters) - U.S. retailers are expected to show a moderate increase in May sales, as high gas prices likely tempered consumer demand for summer clothing and other discretionary items. | Full Article
Nokia drops targets and shares slump to 13-year low
May 31, 2011 01:02 PM ET
HELSINKI (Reuters) - Mobile phone maker Nokia Oyj abandoned hope of meeting key targets just weeks after setting them, raising questions over whether its new boss can deliver on the turnaround he promised in February. | Full Article
Greece moves on austerity deal, opposition wants more
May 31, 2011 02:44 PM ET
ATHENS (Reuters) - Greece appears to have agreed a tax cut with its international lenders, aimed at forging a broad consensus for more austerity to avoid a debt default, but the opposition said on Tuesday this would still not win its support. | Full Article
U.S. files new charges against September 11 accused
May 31, 2011 02:52 PM ET
MIAMI (Reuters) - U.S. military prosecutors have filed new charges against the self-described mastermind of the September 11 attacks in 2001, Khalid Sheikh Mohammed, and four alleged co-conspirators held at the Guantanamo detention camp. | Full Article
Yemen truce ends in blasts, stokes civil war worries
May 31, 2011 03:53 PM ET
SANAA (Reuters) - Street fighting raged in Yemen's capital on Tuesday ending a tenuous ceasefire between tribal groups and forces loyal to President Ali Abdullah Saleh and edging the impoverished Arab state closer to civil war. | Full Article
Libya's Gaddafi: I will not leave my country
May 31, 2011 03:05 PM ET
TRIPOLI (Reuters) - Muammar Gaddafi is emphatic he will not leave Libya, South African President Jacob Zuma said on Tuesday after talks with the Libyan leader that left prospects for a negotiated end to the conflict looking dim. | Full Article
Palin tour: campaign prelude or publicity stunt?
May 31, 2011 02:47 PM ET
WASHINGTON (Reuters) - Sarah Palin is going rogue again, confounding the press and delighting fans on a family bus tour that could be a prelude to an unconventional White House campaign -- or a branding exercise for Palin Inc. | Full Article
Egypt's Mubarak unfit for prison move: prosecutor
May 31, 2011 08:50 AM ET
CAIRO (Reuters) - Egypt's public prosecutor said on Tuesday that ousted President Hosni Mubarak was in no condition to be transferred to a prison hospital and would remain in a health facility in a Red Sea resort for the time being. | Full Article
WHO says cell phone use "possibly carcinogenic"
Smoking could kill 8 million a year by 2030: WHO
Killer bacteria claims victims in Germany, Sweden
Kids with stubborn asthma may have food allergy
Mouse virus doesn't cause chronic fatigue: reports

The washington Post | Post Politics Afternoon Edition: The Take: Sarah Palin rewrites the rulebook

The Washington Post

Politics Afternoon Edition


  1. The Take: Sarah Palin rewrites the rulebook

    Sarah Palin continues to thumb her nose at political convention. But to what end?
    » Read full article
  2. 2chambers: Allen West: More defense spending needed

    An outspoken GOP House freshman is calling for more, not less, defense spending.
    » Read full article
  3. Supreme Court: Ashcroft can’t be sued over post-9/11 detention

    By a 5-3 vote, the court said the former attorney general did not violate the rights of an American Muslim who was never charged.
    » Read full article
  4. Obama picks former oil executive to head Commerce Department

    President Obama nominated former energy company executive John Bryson as his new commerce secretary Tuesday.
    » Read full article
  5. RNC takes back seat on redistricting

    The Republican State Leadership committee will fill much of the national committee’s traditional role.
    » Read full article

CBS NEWS | : Political Hotsheet Top Stories : Palin bus tour treats reporters like paparazzi

The CBS News Political Hotsheet newsletterCBS Political


Has decision not to tell media where she is headed become a "dangerous" cat and mouse game?
Read full story
Palin bus tour treats reporters like paparazzi

Romney gives himself better than 50-50 odds The GOP presidential candidate and former governor calls Barack Obama a "failed" president

Weiner hires lawyer after Twitter incident Democratic Congressman Anthony Weiner is considering civil or criminal charges after his Twitter account was allegedly hacked

Palin: GOP 2012 field At a stop in Gettysburg, Sarah Palin promises "unconventional" campaign style...if she runs

Obama to Joplin: There are heroes all around us President's remarks at Joplin, Mo., memorial service for tornado victims

MarketWatch | Personal Finance Daily: Sales data signal double-dip in housing

Personal Finance Daily
MAY 31, 2011

Sales data signal double-dip in housing

By MarketWatch

Don't miss these top stories:

Far from a real recovery, the U.S. housing market has entered a double-dip recession, as evidenced by data released Tuesday. U.S. home prices fell in March for the eighth straight month, and home prices in 20 major U.S. cities dropped 0.8% in March on a non–seasonally adjusted basis, according to the Case-Shiller home-price index released by Standard & Poor's. The data are new, but the story's been hanging over our heads for some time. In fact, MarketWatch real-estate columnist Amy Hoak wrote about the looming double dip in our spring home-buying and selling special report. Home for sale this spring? Better luck next year.

MarketWatch commentary editor Rex Nutting writes today in his First Take analysis on the home-price news: Housing is still holding back the economy, nearly five years after the bubble began to deflate. And there's no end in sight. Nutting says there's been a lot of debate during the past two years about "why this economic recovery has been so awful." The biggest reason, he says, is housing — specifically, housing debt.

He writes: "Unfortunately, falling prices only make the debt burden tougher to handle. But lower prices are needed to revive the industry. Mortgage lenders and servicers need to face the facts: You lent out too much money and you will never, ever be repaid. You need to get serious about loan modifications, so you, the homeowners and the rest of the economy can move on. Otherwise, it's going to be years before housing stops being an anchor weighing us down."

Don't miss the story on the housing data, or Nutting's First Take column.

Anne Stanley , managing editor, personal finance

Housing in double-dip decline as prices fall again

U.S. home prices fall in March for the eighth straight month, pushing the index into double-dip downturn, according to the Case-Shiller home-price index released by Standard & Poor's.
Read more: Housing in double-dip decline as prices fall again.

Say goodbye to the office cubicle

Companies are increasingly creating offices where workers can be more productive and collaborative, where ever-important natural light shines on the masses and people are generally happier to go to work.
Read more: Say goodbye to the office cubicle.

Treating Medicare's ills — and yours

There is plenty that current and future Medicare beneficiaries can do now and in the future to make sure they have adequate health-care coverage after age 65.
Read more: Treating Medicare's ills — and yours.


Housing still holding us back

Housing is still holding back the economy, nearly five years after the bubble began to deflate, and there's no end in sight, writes Rex Nutting.
Read more: Housing is still holding back the economy.

Latest ‘soft patch' catches economists off-guard

Now that the current quarter is two-thirds finished, it is rapidly becoming apparent that, for the second quarter in a row, pundits overestimated the pace of economic activity, writes Irwin Kellner.
Read more: Latest ‘soft patch' catches economists off-guard.

Update on inflation-deflation battle

The top-performing investment advisers persist in their bet from early January in believing that inflation will win out over deflation this year — despite sporting losses in each of the mutual funds they were highly recommending at the time.
Read more: Update on inflation-vs.-deflation battle.

Why no jail time for Wall Street CEOs?

It's the most-asked question to come out of the financial crisis: Why aren't any Wall Street CEOs in jail? Columnist David Weidner has the answers.
Read more: Why no jail time for Wall Street CEOs?


Congress plans symbolic vote on U.S. debt ceiling

The House is expected to reject a bill Tuesday that would let the heavily indebted U.S. government borrow more money without any strings attached. Conservatives hope its failure sends a message to President Obama that he needs to support deep spending cuts.
Read more: Congress plans symbolic vote on debt ceiling.

U.S. consumer confidence declines in May

Consumer confidence fell in May as Americans grew slightly more pessimistic about job prospects and future business conditions, according to a closely followed survey.
Read more: U.S. consumer confidence declines in May.

Chicago manufacturing gauge nosedives

A Chicago-area manufacturing gauge dropped by the largest amount in nearly 2 ½ years in May — a further sign that the rise in oil prices and the Japanese earthquake have affected activity.
Read more: Chicago manufacturing gauge nosedives.

Moody's puts Japan on review for downgrade

Ratings agency places Japanese bond ratings on review due to long-term fiscal concerns.
Read more: Moody's puts Japan on review for downgrade.

China developers to write down asset values

Falling land prices may prompt Chinese property developers to write down the value of their assets, forcing a sober reassessment for those with vast land holdings, according to a new survey.
Read more: China developers to write down asset values.

FDIC: Financial Institution Letter: Electronic Filing by Banks Reporting to the FDIC Under The Securities Exchange Act of 1934 and Part 335 of the FDIC's Regulations

Financial Institution Letter
Electronic Filing by Banks Reporting to the FDIC Under The Securities Exchange Act of 1934 and Part 335 of the FDIC's Regulations
Voluntary Transition Period for Publicly Owned FDIC-Supervised Banks
May 31, 2011

Summary: FDIC-supervised banks and associated parties are encouraged to use FDICConnect to access an electronic filing system for Securities Exchange Act filings and submit periodic reports, proxy materials, other securities disclosure documents, and related correspondence to the FDIC. Publicly available securities disclosure documents filed via FDICConnect generally will be immediately accessible on the FDIC's Web site.

Statement of Applicability to Institutions under $1 Billion in Total Assets: With respect to electronic filing, this Financial Institution Letter applies only to FDIC-supervised banks, including community banks, that have a class of equity securities registered with the FDIC under the Securities Exchange Act. The publicly available securities disclosure filings by such FDIC-supervised banks may be of interest to all institutions.

MarketWatch | Market Pulse: U.S. home prices in double-dip recession after 0.8% March drop: Case-Shiller

WASHINGTON (MarketWatch) -- The prices of single-family homes in 20 major cities fell for the eighth straight month and confirmed that there is a double-dip in the housing market, according to the S&P/Case-Shiller home price index released Tuesday by Standard & Poor's. Home prices fell a non-seasonally adjusted 0.8% in March. Prices have moved down 3.6% in the past year. Home prices declined in 18 of the 20 metropolitan areas tracked by Case-Shiller in March compared with February. Washington D.C. and Seattle were the only markets where home prices increased in March.

The Washington Post Today's Opinions

The Washington Post
newsletter header

Fred Hiatt

 Fred Hiatt

Which Burma to engage?

We can either deal with its brutal rulers or the forces working for democracy.

Eugene Robinson

 Eugene Robinson

Self-demolition derby

Sarah Palin’s bus trip points up a big problem for the GOP’s 2012 field.

Michael Gerson

 Michael Gerson

Rescuing Medicare

Three things for the GOP to keep in mind if it wants to mend entitlements.

Richard Cohen

 Richard Cohen

What sparks evil?

Hard times don’t produce hardened criminals.
Tom Toles

The Washington Post | Post Politics | News & Analysis: In N.C., GOP worries over 2012 and Obama

The Washington Post
newsletter header
Top Stories
**MUST CREDIT** Lenell Miller of Kinston, N.C. leads a rally of State Employees who called on the Legislature to pass a budget that will preserve their jobs on Saturday April 30, 2011on the Bicentennial Plaza across the Legislature in Raleigh, N.C. (Photo by Robert Willett/The News & Observer)

In N.C., GOP worries over 2012 and Obama

If GOP activists in N.C. feel confident heading into the 2012 election season, you wouldn’t know it by what they’re doing and saying. The dynamics are on display elsewhere in the South, too.
A view of the US Capitol Building on Capitol Hill April 6, 2011 in Washington, DC. A top White House ally in the US Senate said Wednesday he saw 'a glimmer of hope' that hard-fought negotiations on spending cuts could yield a deal to avert a partial government shutdown looming at week's end. 'There is a glimmer of hope,' Democratic Senator Chuck Schumer told NBC television a day after after talks on funding the government to October 1 stretched into the night with the clock fast ticking down to a midnight Friday deadline. AFP PHOTO/Brendan SMIALOWSKI (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)

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Behind the showdown

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Congressional votes database
Browse every vote in the U.S. Congress since 1991.

RTTNews Morning Market Briefing

Morning Market Briefing

With traders expressing optimism about further financial assistance for Greece, stocks are likely to show a strong move to the upside at the start of trading on Tuesday. The major index futures are currently pointing to a sharply higher open, with the Dow futures up by 96 points. The upward momentum for the markets comes amid reports regarding the likelihood of another round of financial aid for Greece, which has been struggling to deal with its massive debt burden. (May 31, 2011) Full Article

Economic News
Industrial output in Japan was up 1.0 percent in April compared to the previous month, the Ministry of Economy, Trade and Industry said on Tuesday, continuing to reflect the results of the devastating earthquake and tsunami on March 11. (May 31, 2011) Full Article
Moody's Investors Service on Tuesday placed the Japanese government bond ratings on review for a possible downgrade on concerns about weak policy response to the faltering economic outlook. (May 31, 2011) Full Article
India's economic growth eased more than expected during the January to March period of fiscal year 2010-11, government data showed Tuesday. (May 31, 2011) Full Article
Swiss economy expanded at a weaker pace in the first quarter, reflecting a decline domestic demand, data from the State Secretariat for Economic Affairs, or SECO, showed Tuesday. (May 31, 2011) Full Article
Eurozone inflation slowed from a 30-month high in May, but it continues to hover above the central bank's threshold limit, official data revealed Tuesday. (May 31, 2011) Full Article
Germany's unemployment declined further in May to a record low and the figure dropped below the 3-million mark, official figures showed Tuesday. (May 31, 2011) Full Article
Earnings News
Bank of Nova Scotia (BNS, BNS.TO), or Scotiabank, said Tuesday second-quarter profit increased year-over-year, primarily reflecting gains from acquisitions recorded at fair value as per new Canadian accounting standards. (May 31, 2011) Full Article
Nokia Corp. (NOK) Tuesday reported trimming its second-quarter sales and operating margin expectations for the Devices & Services business as a result of lower than expected average selling prices and mobile devices volumes. The second-quarter results are anticipated on July 21, 2011. (May 31, 2011) Full Article
Corporate News
Canada-based Fortis Inc. (FTS.TO) announced Monday agreeing to acquire Central Vermont Public Service (CV), or CVPS, for $700 million in cash which includes $230 million of debt. The deal is expected to complete in six to 12 months and may contribute to Fortis's earnings in the first full-year thereafter. (May 31, 2011) Full Article
Ashland Inc. (ASH) Tuesday reported inking an agreement that sees it acquire privately-held chemical industry peer International Specialty Products Inc., or ISP, for $3.2 billion in cash. The deal is expected to complete by the end of the September quarter. The company anticipates “immediate” contribution to its earnings. (May 31, 2011) Full Article

Financial & Forex Info | Reuters - Before The Bell


Stock futures climb on Greece bailout hopes
NEW YORK (Reuters) - U.S. stock index futures advanced on Tuesday as the euro rose against the dollar and commodity prices jumped on optimism that new aid for Greece from the European Union was in the offing. | Full Article

Japan recovery takes hold, but debt downgrade looms
May 31, 2011 06:57 AM ET
TOKYO (Reuters) - Japan's economy offered more signs of recovery from the deadly March earthquake on Tuesday, but Moody's ratings agency warned both growth and government action may fall short of what is necessary to bring Tokyo's ballooning debt back under control. | Full Article
Europe weighs options for new Greek package
May 31, 2011 07:17 AM ET
BERLIN (Reuters) - Europe stepped up efforts to draft a second bailout package for Greece on Tuesday, with private sector participation still seen as an option to help relieve the country of its massive debt burden. | Full Article
Goldman traded $1.3 billion in Libyan funds: report
May 31, 2011 01:45 AM ET
(Reuters) - Goldman Sachs invested more than $1.3 billion from Libya's sovereign-wealth fund in currency bets and other trades in 2008 and the investment lost more than 98 percent of its value, the Wall Street Journal reported, citing internal Goldman documents. | Full Article
VW motors ahead with MAN-Scania truck merger plan
May 31, 2011 07:34 AM ET
FRANKFURT (Reuters) - German carmaker Volkswagen formally launched its bid for MAN on Tuesday, in a move toward creating Europe's biggest truckmaker. | Full Article
Yemen truce ends with blasts, stokes civil war worries
May 31, 2011 06:47 AM ET
SANAA (Reuters) - Street fighting raged across the Yemeni capital on Tuesday after a tenuous truce broke down between tribal groups and forces loyal to President Ali Abdullah Saleh, edging the impoverished Arab country closer to civil war. | Full Article
Zuma says Gaddafi refuses to leave Libya
May 31, 2011 07:37 AM ET
JOHANNESBURG (Reuters) - Libyan leader Muammar Gaddafi is not prepared to leave Libya but will press efforts to find a political solution to the country's conflict, South African President Jacob Zuma said on Tuesday. | Full Article
Lagarde pledges IMF reform in bid to woo Brazil
May 30, 2011 08:33 PM ET
BRASILIA (Reuters) - French Finance Minister Christine Lagarde pledged to push reforms to give Brazil and other emerging economies more influence at the International Monetary Fund as she kicked off a worldwide tour on Monday to win support for her candidacy to lead the global lender. | Full Article
Egypt's Mubarak unfit for prison move: prosecutor
May 31, 2011 07:57 AM ET
CAIRO (Reuters) - Egypt's public prosecutor said on Tuesday ousted President Hosni Mubarak was not in a condition to be transferred to a prison hospital and would remain in a hospital in Sharm el-Sheikh for the time being. | Full Article
Mladic may be extradited within 24 hours
May 31, 2011 07:08 AM ET
BELGRADE (Reuters) - Accused war criminal Ratko Mladic may be sent to The Hague in the next 24 hours, Serbian officials said on Tuesday, after he was allowed to go to his daughter's grave and his grandchildren visited prison. | Full Article
Smoking could kill 8 million a year by 2030: WHO
Germany E.coli cucumber death toll rises to 14
More evidence that PTSD, heart disease linked
Vaccine alliance seeks $3.7 bln from London meeting
Stress doesn't raise risk of MS: study