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Feb 14, 2011

The Economist : New or updated articles February 14th 2011

United States: The budget act
The White House pretends its priorities matter
Full article

Europe and the Middle East: 1989 and all that
Why did Europe embrace the democratic revolutions in eastern Europe in 1989 but support dictatorships in the Arab world?
Full article

Europe: Not leaving just yet
Václav Havel—playwright, dissident and politician—embarks on a new career
Full article

Culture: Picasso's true grit
A new show at MoMA sheds light on the artist's studio practice
Full article

Economics: In search of a central banker
Axel Weber decides not to run for the ECB's top job
Full article

Culture: Bringing home the Bacon
Some auspicious signs in a very fickle art market
Full article

Daily chart: Drinking habits
A world map of alcohol consumption
Full article

Online debate: Global elite
Did the elite become so by doing things that were in their own interest, but which also benefited large numbers of other people?
Full article

Financial & Forex Info News: Kitco - New York Market Close Report

New York Market Close Feb 14/11 05:20 PM EST

Evening Market Wrap

Evening Market Wrap
Monday, February 14, 2011, 17:01


Stocks closed Monday's session on a mixed note, as a lack of first-tier economic reports left traders concentrating on the day's corporate news to guide movement. Meanwhile, the markets saw little reaction to the 2012 budget proposal issued by the Obama administration.Full Article
Corporate News

Ventana Gold Corp. (VEN.TO), Monday agreed to Brazilian billionaire investor Eike Batista's bid of C$13.06 per share to acquire the company. Batista already owns about 20 percent shares of Ventana. Shares of Ventana gained more than 4 percent following the news, on above average volumes. In a statement, Vancouver, Canada-based Ventana noted that it reached a verbal agreement in favor of the increased bid during the evening of Sunday, February 13, 2011, with AUX Canada Acquisition Inc., a company which is indirectly controlled by Batista. Full Article

Samsung, Apple's distant rival in the lucrative tablet computer market, unveiled Monday an updated version of its Galaxy Tab. While Apple's iPad has become nearly synonymous with the highly-portable tablet computer, Samsung's stylish new 10.1 inch Galaxy Tab should help the Korean electronics maker cement its number two position. The new tablet device runs on Google's Android 3.0 Honeycomb, and is powered by NVIDIA's dual-core Tegra 2 chipset. Full Article

Casino chain MGM Resorts International (MGM) on Monday reported a loss for the fourth quarter that narrowed from last year on lower expenses and one-time charges. The Las Vegas, Nevada-based company's net loss for the fourth quarter narrowed to $139.19 million or $0.29 per share from $433.92 million or $0.98 per share in the year-ago period. Full Article

Healthcare and physician services company Emergency Medical Services Corp. (EMS) Monday said it agreed to be acquired by private equity investment firm Clayton Dubilier & Rice LLC or CD&R for $3.2 billion. Under the definitive merger agreement, a CD&R affiliate, which was formed to complete the merger, will acquire Emergency Medical or EMSC. The company's stockholders and the holders of LP Exchangeable Units would receive $64 per share in cash. Full Article

Aircraft and marine engine manufacturer Rolls-Royce Group Plc (RYCEY.PK, RR.L) Monday said it had won a $2.2 billion TotalCare long term services contract from Emirates Airline, covering Trent engines for 70 Airbus A350XWB aircraft. The agreement will cover Emirates' Rolls-Royce powered fleet of 128 aircraft, both in service and on order. TotalCare offers a suite of engine support services such as proactive in-service engine management, overhaul shop maintenance and the collection and management of engine data. TotalCare long term service agreements are in place on 90 percent of all Trent engines. Full Article
Political News

In what is likely to be just the first salvo in a prolonged battle over the U.S. budget, President Barack Obama will reveal his budget request for fiscal year 2012 on Monday. Details of the budget proposal unveiled prior to its official released at about 10:30 am ET showed $3.73 trillion in government spending, down by $90 billion from the president's budget proposal last year. Full Article

A majority of Americans think China is the leading economic power in the world today, according to the results of a Gallup poll released on Monday, with a plurality of Americans also saying that China will still be the world economic leader in twenty years. The poll showed that 52 percent of Americans think China is currently the leading economic power in the world compared to 32 percent that think the U.S. is the world economic leader. Full Article

Congressman Jeff Flake, R-Ariz., announced Monday that he will seek the Republican nomination in the race to succeed retiring Senator Jon Kyl, R-Ariz. Flake, who has represented Arizona's 6th Congressional District since 2001, has been a vocal critic of wasteful spending and earmarks during his time in the House. Full Article
Stocks To Watch

Feb 14, 2011 Promising Packets...
This technology company has grown revenues by more than ten-fold from 2006 to 2009. Advancing to the next generation of internet protocols called Ipv6, this company is expanding its domestic and inter Full Article______________________________________________________________ 
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NYT: Afternoon Business News: Signs of Trouble as G-20 Ministers Prepare to Meet


Signs of Trouble as G-20 Ministers Prepare to Meet

Volatile capital flows, exchange rate pressures and rapidly growing foreign-exchange reserves have been gathering new momentum in emerging markets, threatening a new financial crisis.

Drumming Up More Internet Addresses

When Vint Cerf decided in 1977 to allocate 4.3 billion addresses for the Internet, it seemed like plenty. Now they're almost all used up.

After a Year of Disruptions, Seeing Value in Travel Insurance

The snowstorms, ash clouds and civil unrest over the last year has caused more people to buy travel insurance.
Smarter Than You Think

A Fight to Win the Future: Computers vs. Humans

As it becomes possible to design computers that dispense with humans, the impact could be significant.

G.M. Workers to Get $189 Million in Profit Sharing

General Motors said the payments, worth "upwards of $4,000" for hourly workers, were the largest profit-sharing checks in the automaker's history.

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Financial & Forex Info News:Wall Street edges up, slack volume points to top | Reuters Daily Investor Update


Wall Street edges up, slack volume points to top
NEW YORK (Reuters) - Energy and commodity shares lifted Wall Street to modest gains on Monday, but the lowest volume so far this year indicated the equity rally may be near a top. | Full Article

Obama budget attacks deficit, fight looming
February 14, 2011 04:26 PM ET
WASHINGTON (Reuters) - President Barack Obama on Monday pledged to halve the U.S. deficit by 2013 and axe $1.1 trillion over a decade through spending cuts and tax increases in a budget he called a "downpayment" on fiscal control. | Full Article
D.Boerse, NYSE dodge issues to seal deal outline
February 14, 2011 04:15 PM ET
NEW YORK/FRANKFURT (Reuters) - Deutsche Boerse and NYSE Euronext have an agreement in principle on broad outlines of a merger, but the exchanges are set to side-step thorny political issues when their boards vote on Tuesday, three sources familiar with the plan said. | Full Article
Ecuador court orders Chevron to pay $8 billion: lawyer
February 14, 2011 04:10 PM ET
LAGO AGRIO, Ecuador (Reuters) - A court in Ecuador's Amazon jungle ordered Chevron Corp to pay more than $8 billion in damages on Monday in a closely watched environmental suit, the plaintiffs' lawyer said. | Full Article

Starbucks, Green Mountain in partnership talks: source
February 14, 2011 04:34 PM ET
LOS ANGELES (Reuters) - Starbucks Corp and Green Mountain Coffee Roasters are in partnership negotiations, a source close to the talks told Reuters on Monday, sending Green Mountain shares surging. | Full Article

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Financial & Forex Info News: Telstra's wireless challenge to NBN: | The Australian Business Briefing

Telstra's wireless challenge to NBN
Telstra Mitchell Bingeman TELSTRA is embarking on a major upgrade of its mobile network  as it positions itself to capitalise on the explosive growth of mobile broadband.
Wall St mixed as Wal-Mart weighs
Wall St UPDATED Kristina Peterson US stocks traded in a tight range today, with a fall in Wal-Mart after its stock-investment rating was cut weighing on the broader market.
US budget avoids major challenges
US dollar fan ANALYSIS: Kathleen Madigan THE US budget avoids the major challenges facing the world's biggest economy and risks the bond markets losing patience.
Copper price a key battleground
copper Andrea Hotter OPINIONS are divided on the outlook for copper and other base metals, with Barclays Capital saying the metals are now at a "crossroads".
Foster's demerger proposal questioned
Foster's Michael Bennet THE "under siege" board of Foster's Group must say how separating its beer and wine businesses will result in higher profits.
US bonds face long-term bear market
Wall St Min Zeng A TOP Pimco fund manager has warned about the risk of a long-term bear market for US Treasuries, which could push up borrowing costs.
Portugal may slide back into recession
Portugal Patricia Kowsmann PORTUGAL'S economy contracted in the fourth quarter, raising fears the crisis-stricken country could slip back into recession.
Globe heading for oil drought: Shell
Oil refinery Sam Fleming THE global appetite for energy is likely to swell far more rapidly than available supply in coming decades as oil production hits a plateau.
Financial Markets
Wall St mixed as Wal-Mart weighs
Wall St UPDATED Kristina Peterson US stocks traded in a tight range today, with a fall in Wal-Mart after its stock-investment rating was cut weighing on the broader market.
Gap between oil prices hits record
Gold contained by stronger US dollar
Financial Markets Coverage
Mining & Energy
Gap between oil prices hits record
oil Jerry A. DiColo US oil prices fell to a two-month low today, as the gap between oil prices in the US and Europe increased to the widest on record.
Gold contained by stronger US dollar
Copper price a key battleground
More Mining & Energy Coverage


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FedEx slashes outlook over storms, fuel prices. MarketWatch - Market Pulse

By Wallace Witkowski

SAN FRANCISCO (MarketWatch) -- FedEx Corp. /quotes/comstock/13*!fdx/quotes/nls/fdx (FDX 93.31, -0.68, -0.72%) said late Monday that it cut its third-quarter outlook because of severe winter storms and higher-than-expected fuel prices. FedEx lowered its third-quarter earnings outlook to 70 cents to 90 cents a share, from a previous range of 95 cents to $1.15 a share. Analysts surveyed by FactSet Research estimate third-quarter earnings of $1.06 a share. "We experienced significant network disruptions in the U.S. and Europe and unusually high costs from severe winter storms," said Alan Graf, FedEx chief financial officer, in a statement. "In addition, fuel prices continued to escalate since we provided our earnings outlook in December."

More  about this story, click: 

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Financial And Forex Info News: Call for cabinet unity as PM flies to New Zealand| The Australian Capital Circle

Capital Circle Newsletter

Call for cabinet unity as PM flies to New Zealand
After bedding down her health deal, Julia Gillard leaves for New Zealand today amid warnings over cabinet leaks.

The PM's day, per the press office: Julia Gillard is flying to New Zealand later today. She will be visiting a school, giving a speech to a trans-Tasman business circle and meeting with New Zealand volunteers who helped in the Queensland floods. Ms Gillard will give a speech to New Zealand MPs tomorrow.
Tony Abbott is in Melbourne and will be on MTR radio at 8am. He will spend the rest of the day in Melbourne.
Baby boom: Opposition justice and customs spokesman Michael Keenan is about to join fellow Liberal MPs Jamie Briggs and Simon Birmingham as a proud new dad. Michael's wife Georgina is expecting a baby in the next two weeks. Best wishes to the Keenans.
Update: Following on from our piece yesterday about an apparent Labor mole attending the Menzies Research Centre conference on Friday, Capital Circle can report that an unsuccessful witch hunt took place in Wayne Swan's office yesterday to find the alleged snoop. We understand Swan enforcer Adam "Collo" Collins spent a decent portion of his day yesterday examining Capital Circle's report. And whilst our source is uncommonly reliable, in this case we'll take Collo at his word. Know more? Email
iEnvy 2.0: In another follow up, we've learned a bit more about Julia Gillard's special cabinet iPad. Sources say the non-3G device has also had it's wifi disabled, rendering it a secure electronic folder onto which the PM's secrets are loaded. We also hear she has another iPad that lets her connect to the information super highway her, including the Australian's iPad app. Thanks Julia.
On Q&A next week: John Pilger. Just joking - it's Anna Bligh, Tim Flannery, Barnaby Joyce and Gina Castelain
***Sign up to Capital Circle -- news from the beltway to your inbox***
Top of the agenda today is the national broadband network and next generation wireless internet. The Australian leads with a report from Read more...

Some jobs are surprisingly dangerous: MarketWatch - Personal Finance Daily


Personal Finance Daily
FEBRUARY 14, 2011

Monday's Personal Finance Stories

By MarketWatch

Don't miss these top stories:

Most people probably know that housekeeping can be back-breaking work, but did you know it's downright dangerous? So say the data from the U.S. Labor Department on occupational injuries and fatalities.

While some jobs are obviously risky, such as firefighting and police work, it turns out farmers, ranchers, housekeepers, bus drivers, tree-trimmers and even dental hygienists suffer a surprisingly high number of occupational injuries and illnesses, Ruth Mantell reports.

Plus, Bob Powell takes a close look at the 2010 Tax Relief Act and comes up with four great ways to take advantage of the legislation to maximize your retirement savings, including the Roth IRA conversion and charitable giving.

Anne Stanley , managing editor, Personal Finance


Jobs you never knew were dangerous

While there's no doubt being a cop or firefighter is a dangerous job, being a farmer is even riskier. Many jobs, bus driver and dental hygienist included, are surprisingly more dangerous that you might expect.
Read more: Jobs you never knew were dangerous.


Tax Relief Act: Four retirement moves to make

Here's a recap of four key areas where you can take advantage of retirement-planning opportunities presented by the 2010 Tax Relief Act.
Read more: Tax Relief Act: Four retirement moves to make.

Why it's worth paying for a tax professional

To save money last year, Anthony Fasano tried preparing his new business's first tax return on his own. Then reality sank in.
Read more: Why it's worth paying for a tax pro.


Porsche Cayenne redo: Daunting but hard to beat

The big changes came inside, where you're faced with a center console that may leave you wondering if you're driving a sport utility or piloting a small plane.
Read more: Porsche Cayenne redo: Daunting but hard to beat.

Four money rules you can break — for now

Never borrow against a 401(k). Avoid credit cards. Make a bigger down payment on a home purchase to avoid paying extra mortgage interest. These are among the tried-and-true financial rules consumers have been told to live by for years.
Read more: Four money rules you can break — for now.


Obama sends $3.7 trillion budget to Congress

President Barack Obama on Monday sent Congress a $3.7 trillion budget for fiscal 2012 that pours billions of dollars into infrastructure, renewable energy and other investments while attacking the record U.S. budget deficit.
Read more: Obama sends $3.7 trillion budget to Congress.

U.S. can't balance budget with chump change

None of the budget plans put forth by Republicans or Democrats would do diddly to fix our long-term budget mess, writes Rex Nutting.
Read more: U.S. can't balance budget with chump change.

Pentagon spending is budget blind spot

If you want to know if anyone is serious about the federal budget deficit, just see what they say about runaway defense spending.
Read more: Pentagon spending is budget blind spot .


The risk of Egypt and Mideast stocks, post-Mubarak

The risk of investing in the region now is so far outside the norm, it may outweigh the potential reward, at least in the near-term. But what if the contrarian buyers are right?
Read more: The risk of Egypt and Mideast stocks, post-Mubarak.

Motley Fool joins fund world, and is beating it

In presenting itself as an alternative to the traditional mutual-fund world, the Motley Fool — the Internet company turned investment firm — has done some good, but it also has co-opted some of the bad things it once decried.
Read more: Motley Fool joins fund world, and is beating it.

China ETFs' slump could weigh on U.S. stocks

The recent divergence of ETFs tracking U.S. and China stocks could be an early warning sign of weakness in the global economic recovery.
Read more: China ETFs' slump could weigh on U.S. stocks.


Triple blow to Queen Angela's designs

Axel Weber's decision to bow out deals a final blow to Germany's grand plans to control the European Union and the European Central Bank.
Read more:

More pain ahead for Indian telecom stocks

Until a couple of years ago, the Indian telecom industry was regarded as the poster child for the promise that the country held. But so much has changed.
Read more: More pain ahead for Indian telecom stocks.


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Obama's Skywalker moment: The Washington Post Afternoon Edition - 10 Most Read Opinions Columns

Washington Post

1) Obama's Skywalker moment

It's hard to pretend that he and Republicans live in the same political galaxy.

2) High-speed rail is a fast track to government waste

Federal support for high-speed rail is a waste.

3) A Valentine's Day wish for the lovelorn: Learn to pick up the phone

A Valentine's Day wish for the lovelorn: Learn to pick up the phone.

4) The upsides of Egypt's revolution

It's hard to imagine the country's foreign policy getting worse.

5) The GOP's defense budget mystery

Current defense spending cannot be defended until it is understood.

6) Getting the new health-care law before the Supreme Court

VIRGINIA ATTORNEY General Ken Cuccinelli II has asked the U.S. Supreme Court to take the extraordinary step of leapfrogging past federal appeals courts to decide the constitutionality of the new health-care law . In a petition filed last week, Mr. Cuccinelli argued that the law has so "roiled...

7) Chandra Levy's killer attacked me in Rock Creek Park. Now I'm finishing my run.

It's late afternoon in October, and I'm jogging in Rock Creek Park on a trail whose terrain is scorched in my memory. I am with my dad and my husband. It is a perfect day for a run, just like the last time I ran here, nine years ago.

8) The Donald trumps the pols at CPAC

CPAC's willingness to consider the flamboyant billionaire reveals desperation.

9) Five myths about the suburbs

In the early 1990s, I wrote a book called "Bomb the Suburbs" celebrating hip-hop culture and cities ("bomb" is slang for writing graffiti). The angry title captured the mood of many of my fellow Chicagoans: resentment at white flight and the asphyxiation of city and small-town life by chain stores...

10) Why other states should adopt Maryland's law on doctor self-referrals

DOCTORS ARE NOT permitted to sell the medicine they prescribe, and for an excellent reason: It would be a conflict of interest, creating financial incentive for physicians to peddle drugs of little or no benefit to patients. So why should doctors be allowed to both order and administer MRIs, CT...

Statement From Chairman Schapiro on Proposed Budget for SEC

The following is a statement from SEC Chairman Mary L. Schapiro regarding the President’s FY 2012 budget request of more than $1.4 billion for the SEC: “These funds will provide the SEC with the resources needed to carry out both our longstanding core mission as well as our new responsibilities over derivatives, hedge funds and credit rating agencies. By law, the 2012 funding is entirely offset by transaction fees such that the SEC budget will not add to the deficit.”
The quoted text can be read  in the link below:

Financial & Forex Info News | Kitco London Fix Market Report

London Fix Mon Feb 14 00:00:00 EST 2011
USD 1356.75 1365.00   30.16 1824.00
824.00 824.00
UK 847.97 851.16   18.85 1138.95
514.50 514.70
EURO 1008.06 1012.69   22.42 1353.60
611.50 611.95