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Mar 11, 2011

MarketWatch: - Market Pulse: NFL players union decertifies; lawsuit may follow



By Sam Mamudi 
 
NEW YORK (MarketWatch) -- The National Football League's players union said Friday that it has filed to decertify, signaling that labor talks with the league and owners are at an end. Decertification means the union will effectively disband, a move will allow the players to sue the league and owners under antitrust laws if there is a lockout. The players and the league have been negotiating for weeks to reach an agreement on a new Collective Bargaining Agreement which, after a one-week extension, is due to expire tonight.

Financial And Forex Info | Kitco New York Market Close Report







New York Market Close Mar 11/11 05:20 PM EST
Metals
Bid
Ask
Change
Low
High
Gold
1419.60
1420.60
8.50
0.6%
1403.80
1425.50
Silver
35.90
35.92
0.62
1.76%
34.00
36.20
Platinum
1777.00
1782.00
14.00
0.79%
1754.00
1791.00
Palladium
757.00
763.00
-11.00
-1.43%
740.00
773.00

NYT: Breaking News Alert: After N.F.L. Talks Fail, Union Decides to Decertify

Breaking News Alert
The New York Times
Fri, March 11, 2011
After N.F.L. Talks Fail, Union Decides to Decertify

Talks between the N.F.L. and the players union broke off
Friday, and the union took steps to dissolve itself, sending
the country's most popular sport into labor turmoil and
imperiling the 2011 season.

The union is expected to seek an injunction to prevent owners
from locking players out, and perhaps file antitrust lawsuits
against owners, using big-name players as plaintiffs. The
collective bargaining agreement expires at midnight, and
after 16 sessions with the federal mediator George Cohen, the
sides still remain far apart on the percentages of revenues
each would receive, the fundamental issue that divides them.

Read More:
http://www.nytimes.com?emc=na

Financial And Forex Info: Reuters - Daily Investor Update Wall Street up on energy shares after Japan quake





News

LATEST NEWS
Wall Street up on energy shares after Japan quake
NEW YORK (Reuters) - Big jumps in U.S. oil refining shares on Friday in reaction to Japan's massive earthquake could soon reverse as traders digest the impact of the disaster | Full Article

Shoppers shake off high gasoline costs in February
March 11, 2011 04:04 PM ET
WASHINGTON (Reuters) - Retail sales posted their largest gain in four months in February as shoppers stepped up purchases of autos, clothes and other goods even as they spent more for gasoline. | Full Article
Consumer sentiment at five-month low in March: survey
March 11, 2011 04:04 PM ET
NEW YORK (Reuters) - Consumer sentiment fell to its lowest level in five months in early March as gasoline prices rose, a survey released on Friday showed. | Full Article
Rajaratnam tapes to get lots of play at trial
March 11, 2011 02:45 PM ET
NEW YORK (Reuters) - Regardless of whether hedge fund chief Raj Rajaratnam ends up testifying at his criminal trial, jurors are going to hear a lot from him. | Full Article
AIG bid to buy back mortgage bonds may buoy market
March 11, 2011 03:42 PM ET
NEW YORK (Reuters) - American International Group's bid to take back $15.7 billion in risky mortgage bonds may inject fresh confidence in a market where investors had started to question a nearly two-year rally. | Full Article

Evening Market Wrap

Evening Market Wrap
Friday, March 11, 2011, 17:01
____________________________

Economic News
As expected, retail sales in the U.S. expanded for the eighth straight month in February, according to figures released by the Department of Commerce on Friday. Total retail sales came in at $387.1 billion in February, up 1 percent from January, precisely the increase that most economists had expected. January's figures were revised upward from the 0.3 percent growth originally reported to a notably stronger 0.7 percent increase. (Mar 11, 2011) Full Article
Business inventories in the U.S. increased by slightly more than economists had predicted in January, according to figures released by the Commerce Department on Friday, while sales continued to surge higher. Manufacturers' and trade inventories, seasonally adjusted, were estimated at $1.4531 trillion, up 0.9 percent from December. Economists had forecast an increase of 0.8 percent. (Mar 11, 2011) Full Article
Corporate News
AnnTaylor Stores Corp. (ANN), a specialty retailer of women's apparel, Friday reported higher fourth-quarter profit, driven by strong sales at its Ann Taylor and LOFT brands. Adjusted earnings per share as well as sales topped analysts' forecast. The retailer also announced an additional share buyback program and the decision to change its corporate name to Ann Inc. The company's first-quarter and fiscal 2011 sales expectations have come in above Street analysts' estimates. (Mar 11, 2011) Full Article
AnnTaylor Stores Corp. (ANN), a specialty retailer of women's apparel, Friday reported higher fourth-quarter profit, driven by strong sales at its Ann Taylor and LOFT brands. Adjusted earnings per share as well as sales topped analysts' forecast. The retailer also announced an additional share buyback program and the decision to change its corporate name to Ann Inc. The company's first-quarter and fiscal 2011 sales expectations have come in above Street analysts' estimates. The New York-based company's fourth-quarter net income was $7.97 million or $0.14 per share, compared with net income of 41 thousands or breakeven per share last year. Results for the 2010 quarter included after-tax restructuring charges of $3 million or $0.05 per share, compared with $2.5 million or $0.05 per share a year ago. On an adjusted basis, net income rose to $11 million or $0.19 per share from $2.5 million or $0.05 per share last year. On average, eighteen analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude one-time items. Quarterly net sales totaled $515.26 million, up from $469.14 million in the same quarter last year. Total company comparable sales increased 11 percent. Analysts projected sales of $515.14 million. In the sequentially preceding quarter, AnnTaylor earned $24.20 million or $0.41 per share, on sales of $505.28 million. The company's sales from the Ann Taylor brand rose to $234.9 million from $206.2 million in the fourth quarter of 2009. Total brand comparable sales increased 20.9 percent, reflecting the strength at Ann Taylor stores and Ann Taylor e-commerce channel and factory channels. At the LOFT brand, net sales were $280.4 million, higher than $263 million in the year-ago quarter. Total brand comparable sales growth was 3.5 percent, as increases in the LOFT e-commerce channel and LOFT Outlet channel was offset by a decline at LOFT stores. Gross margin reached 51.7 percent in the quarter, down from 52.5 percent a year ago, due to higher level of promotional activity at the LOFT brand. AnnTaylor also stated that its board has decided to expand its repurchase program by an additional $200 million. This makes the total amount available for buyback at nearly $260 million. In addition, the company has decided to change its corporate name from Ann Taylor Stores Corp. to Ann Inc. to better reflect the multi-channel focus of its business. Going forward, AnnTaylor expects first-quarter net sales to approach $510 million, with total comparable sales increasing in the mid-to-high single digits. Gross margin is projected to be about 58.5 percent. For fiscal 2011, AnnTaylor currently expects total net sales of about $2.18 billion and a total comparable sales increase in the mid-single digits. The company also projects a slight increase in gross margin to approximately 56 percent from fiscal 2010's 55.8 percent. Analysts estimate sales of $488.05 million for the first quarter and $1.98 billion for the year 2011. ANN closed Thursday's trading at $24.21. In pre-market trading, the company's shares rose 11.28 percent or $2.73 to $26.94. (Mar 11, 2011) Full Articl
Sporting goods retailer Hibbett Sports, Inc. (HIBB) Friday reported a higher fourth-quarter profit, driven by sales growth. Earnings per share topped analysts' estimate by a penny, but revenues disappointed. The company also offered outlook for fiscal 2012. Fourth-quarter net income was $12.46 million or $0.44 per share, compared with $11.75 million or $0.40 per share in the prior-year quarter. (Mar 11, 2011) Full Article
Citi Trends, Inc. (CTRN) posted fourth-quarter net income of $9.36 million or $0.64 per share, down from $11.25 million or $0.78 per share last year. Financial results for the latest quarter included an immaterial correction of an error related to an accounting policy. In the latest quarter, the company began to capitalize freight costs as a component of the cost of inventory. The impact of this adjustment in the fourth quarter was a non-recurring reduction in cost of sales of $2.7 million and a resulting increase in net income of $1.8 million, or $0.12 per share. (Mar 11, 2011) Full Article
Stella-Jones Inc.(SJ.TO), a Canada-based producer of pressure treated wood products, on Friday reported a profit for the fourth quarter that more than tripled from last year. Revenues more than doubled, reflecting contribution from the Tangent operations, demand for the company's core products and strong advanced deliveries of railway ties. Looking ahead, the company said that strong deliveries in the latter part of the fourth quarter are expected to slightly soften first-quarter results. In addition, the company's board declared a 20 percent increase in the semi-annual dividend. (Mar 11, 2011) Full Article
Marshalls Plc (MSLH.L) reported profit attributable to equity shareholders of the parent of 7.35 million pounds or 3.69 pence per share for fiscal 2010, compared to loss of 752 thousand pounds or 0.42 pence per share in the prior year. Pre-tax profit for the year was 9.21 million pounds versus pre-tax loss of 2.37 million pounds last year. (Mar 11, 2011) Full Article
Cable&Wireless Worldwide PLC (CW.L) said Friday that its Chief Financial Officer, Tim Weller, will be leaving the company in July. After playing a key role in establishing Cable&Wireless Worldwide as an independent listed company following its demerger in March last year, Tim and the Board have agreed that he will leave the company on the date of the annual general meeting on 21 July, 2011. (Mar 11, 2011) Full Article
COMMENTARIES
With traders shrugging off concerns about the economic impact of a massive earthquake in Japan, stocks moved mostly higher over the course of the trading day on Friday. The strength in the markets came on the heels of the sell-off that was seen in the previous session. (Mar 11, 2011) Full Article
CURRENCY
The dollar came under pressure Friday afternoon as the euro recovered and the yen whipsawed in reaction to a major earthquake in Japan overnight. Hopes that the European Union could work out a plan to end the region's sovereign debt crises prompted some late buying of the euro. (Mar 11, 2011) Full Article
Political News
Unidentified gunmen have shot dead the leader of a left-leaning farmers' outfit in northern Philippines in continuing violence against political activists there, a police spokesman has been quoted as saying in media reports on Friday. The attack on 61-year old Bonifacio Labasan took place at San Mateo town in Isabela province, 300 kilometers north of the capital Manila. Labasan, who headed the Union of Peasants in northern Cagayan Valley province, died on the spot after he suffered gunshot wounds to the head and abdomen. (Mar 11, 2011) Full Article
After seeing some improvement in the first two months of the year, Congress’ approval rating has dipped back below 20 percent, according to the results of a Gallup poll released on Friday. The poll showed that just 18 percent of Americans approve of the way Congress is handling its job, down from 23 percent in a February poll. (Mar 11, 2011) Full Article

NYT: Afternoon Business News: In Quake's Aftermath, Japanese Companies Try to Take Stock



BUSINESS

In Quake's Aftermath, Japanese Companies Try to Take Stock

By BETTINA WASSENER and CHRIS V. NICHOLSON
As Japanese companies scrambled to assess the impact of the earthquake, the Japanese central bank said it would "do its utmost" to ensure market stability.

New iPad Cover Opens to Instant Gratification

By MIGUEL HELFT
Apple's "smart cover" is like the refrigerator door: open it and the light goes on, revealing the inside.

Inflation in China Stays Above Comfort Zone

By DAVID BARBOZA
China said Friday that consumer prices had risen sharply again in February, suggesting that the government might have a difficult time taming inflation this year amid growing public anxiety.
Off the Charts

Borrowing Again, but Less on Credit Cards

By FLOYD NORRIS
The amount of outstanding nonrevolving consumer debt - term loans to pay for things like cars, education or vacations - rose $9.3 billion in January, to $1.617 trillion.

Banks' Fragility Hovers Over E.U. Meeting on Debt Crisis Support

By MATTHEW SALTMARSH
Failure to agree on a rescue mechanism could heap new financing problems upon lenders.

MarketWatch: Personal Finance Daily: Kiddie tax laws could cost you at tax time

MarketWatch

Personal Finance Daily
MARCH 11, 2011

Friday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:
The so-called kiddie tax laws were designed to catch rich families who transfer their stocks and bonds into their children's names and thus reduce the taxes on dividends, interest and capital gains, writes Eva Rosenberg in today's TaxWatch column. The trouble is, even kids who aren't child stars or whose families aren't rich can end up with some shocking tax obligations. Students who win taxable scholarships, for example, may have to pay tax on that at their parents' marginal tax rate. Read more from Rosenberg on how income should be reported and what counts as investment income.

Also in today's personal finance lineup, Lew Sichelman reviews mortgage-relief programs in his Realty Q&A column.

Anne Stanley , Managing Editor, Personal Finance

Kiddie tax laws could cost you at tax time

The general rule of thumb is that the kiddie tax applies to investment income. But the IRS's definition of investment income is much broader than most taxpayers realize, writes Eva Rosenberg.
Read more: Kiddie tax laws could cost you at tax time.


REAL ESTATE

Foreclosure programs: What you need to know

Lew Sichelman explains the government programs available to help people in danger of losing a home to foreclosure.
Read more: Foreclosure programs: What you need to know.


SPENDING & SAVING

Gas at $4 a gallon plus? Consumers say it's coming

Consumers are convinced gas prices will continue to rise, but they say they're unwilling to wait in long lines to save 10 cents a gallon, according to two new surveys.
Read more: Gas at $4 a gallon plus? Consumers say it's coming.


Consumers play blame game as gasoline nears $4

Consumers are pointing fingers as retail gasoline prices approach $4 a gallon.
Read more: Consumers play blame game as gasoline nears $4.


U.S. consumers survive oil shock, for now

So far, the hefty increase in gasoline prices hasn't crimped U.S. retail sales, but the worst is yet to come.
Read more: U.S. consumers survive oil shock, for now.


INVESTING

The Dow's plunge: Should you be worried?

Ouch. It was the biggest drop in the Dow Jones Industrial Average since August. Markets tumbled yesterday, while fears surged — about jobs, Spain and Saudi Arabia. But what does this mean for you, the investor?
Read more: The Dow's plunge: Should you be worried?


Earthquakes rarely shake the stock market

The stock market appears to be largely shrugging off news of the most powerful earthquake to hit Japan in more than 100 years. While this surprises some, a historical retrospective shows that we shouldn't be surprised.
Read more: Earthquakes rarely shake the stock market.


March Madness and your portfolio

An academic study found that investors tend to act irrationally following losses by their favorite sports teams. This should serve as a powerful reminder about how hard it is to keep our emotions out of our investing, especially during the March Madness tournament that begins next week.
Read more: March Madness and your portfolio.


ECONOMY & POLITICS

AIG and the Fed heading for showdown

The Fed may be better off keeping the securities if they are indeed undervalued, but it will also have to weigh the potential benefit of selling its AIG stake.
Read more: AIG and the Fed heading for showdown.


Economy ready to expand, forecaster says

After getting off to a slow start, the U.S. economy is now in the early stages of a multiyear expansion, says Ray Stone, winner of MarketWatch's Forecaster of the Month award.
Read more: Economy ready to expand, forecaster says.


Wider trade gap sign of better recovery

The widening in the U.S. trade gap is a plus for the overall tone of the U.S. recovery, because the gain in imports is fueled by stronger domestic spending.
Read more: Wider trade gap sign of better recovery.


Global trust in business is on the rise

Surveys show public around the globe is more trusting of all institutions again, but there will always be a place for healthy skepticism.
Read more: Global trust in business is on the rise.


EARTHQUAKE IN JAPAN

Airlines cancel flights after quake

Airlines reported hundreds of flight cancellations to and from Japan on Friday after a large earthquake rocked the island nation. Tokyo's Narita International and Haneda airports were closed following the 8.9-magnitude quake, the country's most powerful on record. The earthquake shook apart buildings, bridges and homes; caused a tsunami and killed more than 200 people. Haneda has since reopened, but operations at Narita appear to be hobbled. Public transportation to and from the airports were interrupted by the quake, leaving people stranded.
Read more: Airlines cancel flights after Japan quake


Yen's 1995 post-Kobe rally tough to repeat

Officials dealing with the tragic aftermath of Japan's earthquake may face added complications if the yen repeats the pattern seen in the wake of 1995's Kobe earthquake.
Read more: Yen's 1995 post-Kobe rally tough to repeat.

Financial And Forex Info: January Business Inventories rose relative Dec. 2010 and of the year




Economics and Statistics Administration Logo
January 2011 business inventories were $1,453.1 billion, up 0.9% from December and up 9.1% from one year earlier.  Sales were $1,177.8 billion, up 2.0% from December and up 10.8% from the previous year.

Financial And Forex Info News: February 2011 retail and food services sales were $387.1 billion, up 1.0% from January and an increase of 8.9% from February 2010.







Economics and Statistics Administration Logo

February 2011 retail and food services sales were $387.1 billion, up 1.0% from January and an increase of 8.9% from February 2010.  Excluding autos, retail and food services sales in February were $315.7 billion, up 0.7% from January and up 6.0% from one year ago.

Financial And Forex Info | Reuters Before The Bell: Futures fall after Japan quake and China data







News

LATEST NEWS
Futures fall after Japan quake and China data
NEW YORK (Reuters) - U.S. stock index futures fell on Friday after a massive earthquake hit Japan and Chinese inflation topped expectations unsettled investors. | Full Article

WikiLeaks: As AIG crumbled, China stepped in as broker
March 11, 2011 01:32 AM ET
NEW YORK (Reuters) - U.S. officials believe China's insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm's collapse in 2008, according to unpublished diplomatic cables. | Full Article
Portugal unveils new cuts ahead of euro summit
March 11, 2011 07:12 AM ET
BRUSSELS (Reuters) - Portugal announced new spending cuts on Friday to try to restore confidence in its finances before a euro zone summit expected to boost economic coordination but defer steps to strengthen a rescue fund. | Full Article
China inflation tops expectations, paves way for more
March 11, 2011 01:34 AM ET
BEIJING (Reuters) - Chinese inflation topped expectations in February at 4.9 percent and looks set to climb further in coming months, adding to pressure for another dose of monetary tightening. | Full Article
Rajaratnam paid for tips, ex-McKinsey man testifies
March 10, 2011 06:52 PM ET
NEW YORK (Reuters) - A disgraced former McKinsey & Co partner told jurors he leaked secrets about the elite consulting firm's clients in exchange for $1.75 million in hidden payments from onetime friend Raj Rajaratnam, the main defendant in the biggest U.S. insider trading trial in years. | Full Article

NYT: Morning Business News: U.S. Regulators and J.&J. Unit Reach a Deal on Plant Oversight



BUSINESS

The Burden of Pensions on States

By MARY WILLIAMS WALSH
In Wisconsin, new pension cost estimates are expected to show that contribution levels are too meager and more money will be needed from public workers.

Start-Ups Are in a Rush to Bring the Chat Room to the Smartphone

By JENNA WORTHAM
A wave of start-ups, including GroupMe, FastSociety and Beluga, are offering apps that allow multiple users to participate in smartphone text conversations.

U.S. Regulators and J.&J. Unit Reach a Deal on Plant Oversight

By REED ABELSON and NATASHA SINGER
Three plants operated by Johnson & Johnson's McNeil Consumer Healthcare unit have had quality problems for over a year.

The Economist: Articles By Subject ALert: Industry and Defense / Banking, pensions and financial regulatio .... and more



 Airline industry and defence From Economist.com, Friday March 11th 2011

The following have been newly published on Economist.com:
How to build greener airliners
How to build greener planes that airlines will actually want to fly ... more



Banking, pensions and financial regulation
Unbanked Americans
Tapping the market for financial outsiders ... more

Reforming public-sector pensions
A cleverly designed package of reforms will still arouse the unions' ire ... more
 

 Motor industry    

Doubts over the supposed foreign espionage at Renault
Doubts over the supposed foreign espionage at the French carmaker ... more

Even the makers of the most expensive cars are switching to electric
Even makers of the most expensive cars are switching to electric and hybrid power ... more


Computing and software

Two computer giants prepare for a world no longer dominated by the PC
Two computer giants prepare for a world no longer dominated by the PC ... more


 Energy and environment

How to build greener airliners
How to build greener planes that airlines will actually want to fly ... more

The oil price
Calls to draw on the world's strategic stockpiles should be resisted for now ...



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Click Here!

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Financial And Forex Info: Reuters - Morning Digest: Huge tsunami slams Japan, sweeps across Pacific basin





News

LATEST NEWS
Huge tsunami slams Japan, sweeps across Pacific basin
TOKYO (Reuters) - The biggest earthquake to hit Japan since records began 140 years ago struck the northeast coast on Friday, triggering a 10-meter tsunami that swept away everything in its path, including houses, ships, cars and farm buildings on fire. | Full Article

Gaddafi troops launch assault on Libya oil port
March 11, 2011 05:54 AM ET
TRIPOLI (Reuters) - Troops loyal to Libyan leader Muammar Gaddafi were fighting to retake the oil port of Ras Lanuf on Friday, intensifying their counter-offensive against the out-gunned insurgents. | Full Article
Global Markets: Asia stocks drop after big quake hits Japan
March 11, 2011 02:14 AM ET
HONG KONG (Reuters) - Asian shares dropped after a massive earthquake hit Japan, including the capital Tokyo, darkening an already bleak mood caused by weak economic data and unrest in Saudi Arabia. | Full Article
Google's YouTube to boost staff by 30 percent in 2011
March 10, 2011 06:03 PM ET
NEW YORK (Reuters) - YouTube, the popular video site owned by Google Inc, said on Thursday it is adding 200 jobs, boosting its staff by more than 30 percent in its biggest hiring year. | Full Article
Britain considers allowing 3-parent IVF technique
March 11, 2011 06:00 AM ET
LONDON (Reuters) - Britain is considering whether to approve a fertility treatment designed to prevent some incurable inherited diseases under which babies would be conceived from three biological parents. | Full Article
Bosh fires Heat to victory over Lakers
March 11, 2011 02:21 AM ET
MIAMI (Reuters) - Chris Bosh stepped up to help the star-studded Miami Heat snap a five-game losing streak with a 94-88 win over the two-time defending NBA champion Los Angeles Lakers on Thursday. | Full Article
Police search home of actor Charlie Sheen
March 11, 2011 02:51 AM ET
LOS ANGELES (Reuters) - Police searched the home of Charlie Sheen on Thursday looking for firearms that would have violated a court order against him, but they found only bullets and an antique rifle, a lawyer for the actor said. | Full Article
Bank robbery thwarted when teller says no
March 10, 2011 11:39 AM ET
NEW YORK (Reuters) - A would-be thief's attempt to rob a suburban New York bank was thwarted when the teller refused his demand for money. | Full Article

WSJ: China News -China Real Time Report: Taiwan Issues Tsunami Warning

CHINA REAL TIME REPORT MAIL
from the Wall Street Journal Online.

March 11, 2011
___________________________________

Taiwan Issues Tsunami Warning

Taiwan's Central Weather Bureau has issued a tsunami warning for the eastern coast of Taiwan.

http://blogs.wsj.com/chinarealtime/?p=13474?mod=djemChinaRTR_t

* * *

Hong Kongers Pony Up for Early iPad 2

Even without an official release date for the iPad 2 in Hong Kong, some residents will have the product in their hands by Sunday - two days after it launches in the U.S.

http://blogs.wsj.com/chinarealtime/?p=13473?mod=djemChinaRTR_t

* * *

Economists React: Inflation Higher Than Expected

Despite government efforts to rein in inflation, China's consumer price index in February rose 4.9% from a year earlier for the second straight month--well above the government's target of 4%--the National Bureau of Statistics said Friday. Analysts weigh in.

http://blogs.wsj.com/chinarealtime/?p=13472?mod=djemChinaRTR_t

* * *

China Watch: Dalai Lama Ditches Politics; Winter Brings Surprise Deficit

The Dalai Lama says he will formally leave his political role in the Tibetan government-in-exile, Lunar New Year cited as China reports its first deficit since March last year, a Chinese TV reporter appears to coach an interviewee, and more.

http://blogs.wsj.com/chinarealtime/?p=13471?mod=djemChinaRTR_t

* * *

Gome Management Shuffle: Gain for Bain?

The truce at Gome Electrical Appliances seems to have been a short-lived one for Bain Capital LLC , but could the new arrangement in fact lead to greater stability in the long run?

http://blogs.wsj.com/chinarealtime/?p=13470?mod=djemChinaRTR_t



Latest WSJ Stories from China
_________________________

China's Trade Heft Tests Global Partners

China is now the top trading partner for six G-20 economies and its rise as a trading power is felt in nearly every corner of the globe--in ways not always welcome. - U.S. Trade Gap Widens on Higher Oil Bill - Reconciling U.S., China Trade Headlines - Heard: China's Good News, Bad News

http://online.wsj.com/article/SB10001424052748704081604576144544050245566.html?mod=djemChinaRTR_t

* * *

Dalai Lama Cedes Role

The Dalai Lama announced plans to formally step down as political leader of the India-based Tibetan government-in-exile. - Video: Dalai Lama to Resign as Tibetan Political Leader - Photos: The Dalai Lama's Political Life

http://online.wsj.com/article/SB10001424052748703453804576191542646350586.html?mod=djemChinaRTR_t

* * *

Chinese Demand Fuels VW, BMW Net

Volkswagen and BMW reported record 2010 profits and signs of a strong first quarter on the back of surging Chinese auto sales, underscoring the outsized role China is playing in German car makers' bottom lines.

http://online.wsj.com/article/SB10001424052748704823004576192633533382572.html?mod=djemChinaRTR_t


___________________________________

VIDEO CENTER

A devastating 8.9-magnitude earthquake has struck Northern Japan. What are the implications for a country already coping with slow economic growth and political instability? WSJ's Jake Lee and Mariko Sanchanta, deputy Tokyo bureau chief, discuss.

http://online.wsj.com/video/asia-today-massive-earthquake-strikes-japan/79F03A5D-823D-4C77-83D2-F6FE0B8A9473.html?mod=djemChinaRTR_t

The Washington Post Today's Headlines & Columnists: | Today's Highlights | Politics | Nation | World | Metro | Business.





TODAY'S HIGHLIGHTS

Powerful earthquake, tsunami strike Japan; rising death toll, substantial damage feared
HIROSHIMA - A massive 8.9-magnitude earthquake and several powerful aftershocks struck the eastern coast of Japan on Friday afternoon, triggering tsunamis that devastated the coastline north of Tokyo.
(By Chico Harlan, The Washington Post)

U.S. to send aid team to eastern Libya; Clinton to meet rebel representatives
(By Karen DeYoung and Edward Cody, The Washington Post)

Wisconsin governor wins his battle with unions on collective bargaining
(By Karen Tumulty, The Washington Post)

Stocks sink amid concerns out of China and Europe, continued turmoil in Arab world
(By Neil Irwin, The Washington Post)

Rep. Peter King's Muslim hearing: Plenty of drama, less substance
(By David A. Fahrenthold and Michelle Boorstein, The Washington Post)

More Today's Highlights

POLITICS
New fronts open in abortion wars
The passage of the health-care overhaul opened new fronts in the fight over abortion. In many states, legislators are pondering bills that would make it illegal for any private insurance plan to cover the procedure.
(By N.C. Aizenman, The Washington Post)

Wisconsin governor wins his battle with unions on collective bargaining
(By Karen Tumulty, The Washington Post)

Rep. Peter King's Muslim hearing: Plenty of drama, less substance
(By David A. Fahrenthold and Michelle Boorstein, The Washington Post)

More Politics


NATION
Wisconsin governor wins his battle with unions on collective bargaining
Gov. Scott Walker wins his drive to enact a law to strip the state's government workers of nearly all of their collective-bargaining rights.
(By Karen Tumulty, The Washington Post)

Giffords hopes to attend husband's shuttle launch
(By RAMIT PLUSHNICK-MASTI, AP)

Ohio executes inmate using new, single-drug method in death penalty
(By Rob Stein, The Washington Post)

Quake hits Hawaii as residents brace for tsunami
(By JAYMES SONG, AP)

Rep. Peter King's Muslim hearing: Plenty of drama, less substance
(By David A. Fahrenthold and Michelle Boorstein, The Washington Post)

More Nation

WORLD
Powerful earthquake, tsunami strike Japan; rising death toll, substantial damage feared
HIROSHIMA - A massive 8.9-magnitude earthquake and several powerful aftershocks struck the eastern coast of Japan on Friday afternoon, triggering tsunamis that devastated the coastline north of Tokyo.
(By Chico Harlan, The Washington Post)

Dalai Lama says he will relinquish political role to democratically elected leader
(By Simon Denyer, The Washington Post)

U.S. to send aid team to eastern Libya; Clinton to meet rebel representatives
(By Karen DeYoung and Edward Cody, The Washington Post)

Yemeni president offers plan to amend constitution
(By Portia Walker, The Washington Post)

More World

METRO
Leslie Johnson seeks third delay of hearing
For the third time, Prince George's Council member Leslie Johnson (D-Mitchellville) has asked a judge to delay a scheduled preliminary hearing on federal evidence-tampering charges, saying she needs more time to investigate the allegations.
(By Maria Glod, The Washington Post)

Heavy rains flood Washington area Thursday
(By Clarence Williams, The Washington Post)

Pepco plans reliability reviews
(The Washington Post)

More Metro

BUSINESS
Stocks sink amid concerns out of China and Europe, continued turmoil in Arab world
New concerns about a widening U.S. trade gap and slowing Chinese growth combined Thursday with other signs of economic trouble to undercut some of the confidence about a recovery that has been building.
(By Neil Irwin, The Washington Post)

More Business