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Apr 11, 2011

MarketWatch | MarketPulse: Japan rates Fukushima crisis at Chernobyl level

By Michael Kitchen 
TOKYO (MarketWatch) -- Japanese nuclear-safety authorities Tuesday raised their assessment of the crisis at the Fukushima Daiichi power plant to the same level as the 1986 Chernobyl disaster. Japan's nuclear safety regulators put the crisis at level 7, the highest possible rating which had so far only been assigned to the Chernobyl incident. The situation had been rated at level 5, on par with the U.S. nuclear accident at the Three Mile Island nuclear plant in 1979. On Monday, Japan widened the evacuation area around Tokyo Electric Power Co.'s (JP:9501 539.00, +39.00, +7.80%) (TKECY 7.75, +1.30, +20.16%) damaged Fukushima Daiichi plant on safety concerns over radiation leaking from the facility.

Financial & Forex Info | Reuters Technology Report

Apple's iPhone 5 isn't expected to hit the market until Christmas or early next year, according to Business Insider's Jay Yarow. Avian Securities said in a note, based on conversations with a "key component supplier" to Apple, that the the iPhone 5 should go into production in September and that Apple could also be developing a lower price/lower spec iPhone model, Yarrow writes.

The $214 billion cellphone industry is bracing for a hit to its supply of components as top phone makers get set to report quarterly earnings next week. “We believe the shortages will start to bite in the third quarter, when we'll get a clearer picture of who is most affected," said Ben Wood, head of research at CCS Insight.

On average analysts expect global cellphone sales volumes to have grown 10.8 percent in January-March, according to 18 analysts in a Reuters poll. The phone market has recovered from a slump in 2009, but growth is expected to have peaked in the first half of 2010, with a slowdown to 9 percent forecast for 2011, the Reuters poll showed.

Apple's iPad will continue to dominate the surging media tablet market for years, with Google playing catch-up, Gartner said. The research firm said it expects 70 million media tablets to be sold this year and 108 million in 2012, compared with 17.6 million in 2010. Apple's share of the market will gradually decline to 47 percent in 2015 from 69 percent this year, while Google's share will rise to 39 percent from 20 percent now.

Apple CEO Steve Jobs will allow best-selling author Walter Isaacson, who chronicled the lives of Albert Einstein and Benjamin Franklin, to publish his biography -- entitled "iSteve: The Book of Jobs", in early 2012. Jobs, who has battled a rare form of pancreatic cancer and undertook a liver transplant in 2009, granted exclusive interviews to the biographer over the course of three years.

Cameron and Tyler Winklevoss, who accuse Mark Zuckerberg of stealing their idea for Facebook, must accept a cash and stock settlement with Facebook that had been valued at $65 million, a U.S. appeals court ruled. The twins argued the deal was unfair because Facebook hid information from them during talks.

Facebook is evaluating the Internet market in China, but has not signed a business deal with any companies there, a source familiar with the matter told Reuters. There had been media reports that the social networking giant and Internet company Baidu had formed a partnership.

The Economist Online Selrcted New Articles: Vicker's Commission | InsideRadiation Zone .... |

The interim report of the Vickers commission: Bigger buffers, smaller banks

Inside the radiation zone: Lost horses

Commemorating Smolensk: A nation divided

Assassination in Kashmir: Even fundamentalists aren't safe

Donald Trump and abortion: Changing your stripes

Islamic and Indian art: The more the merrier

Daily chart: Manned spaceflight

Online debate: Are the costs of nuclear power too high?

Financial & Forex Info News | The Australian Business Briefing:

Hochtief CEO quits after Leighton loss
Herbert Luetkestratkoetter Hilde Messer THE CEO of Hochtief has resigned after the German company cut its earnings target on more bad news from its majority-owned Leighton Holdings.
IMF sees less growth, more jobs
IMF David Uren, Economics correspondent THE International Monetary Fund has downgraded its estimate of Australia's growth this year to 3 per cent.
Alcoa shares fall as sales disappoint
Alcoa HIGHER aluminium prices delivered a strong first quarter for Alcoa, the company said, slightly beating analysts' estimates.
Wall St mixed ahead of earnings season
Wall St Donna Kardos Yesalavich US blue-chip stocks eked out a slim gain but other market measures fell slightly as investors traded cautiously ahead of earnings season.
Kerry stoked by Seven West Media
Kerry Stokes Andrew Burrell KERRY Stokes is "extremely excited" about the creation of Australia's newest media giant, Seven West Media.
Barnett warns BHP: hands off Woodside
Woodside LNG platform Matt Chambers COLIN Barnett has publicly warned BHP Billiton not to bid for Woodside Petroleum, threatening to become a major obstacle.
Nickel price may have peaked for 2011
nickel Rhiannon Hoyle THE price of nickel may have already peaked this year, with fundamentals expected to turn increasingly sour over 2011, analysts say.
Five-minute chat sealed Ten CEO deal
james warburton James Chessell IT took a five-minute conversation with Lachlan Murdoch for James Warburton to convince hm he wanted the top job at Ten.
Financial Markets
Wall St mixed ahead of earnings season
Wall St Donna Kardos Yesalavich US blue-chip stocks eked out a slim gain but other market measures fell slightly as investors traded cautiously ahead of earnings season.
Oil slips below $US110 on demand risks
Nickel price may have peaked for 2011
Financial Markets Coverage
Mining & Energy
Glencore to unveil new board with IPO
Glencore David Robertson GLENCORE will announce a new board of directors this week when it is expected to confirm its intention to seek a $US60 billion flotation.
Alcoa shares fall as sales disappoint
Oil slips below $US110 on demand risks
More Mining & Energy Coverage

Financial & Forex Info | The australian Capital Market: Minister throws the book at Defence

Capital Circle Newsletter
Minister throws the book at Defence
Stephen Smith has launched a raft of inquiries designed to turn Defence upside down.

The PM's Diary: Julia Gillard is back from leave and is launching a documentary about the battle of Kapyong with Defence Personnel minister Warren Snowdon today. The documentary, marking  the 60th anniversary of the battle, will be launched in the theatrette about 11am. The PM will spend the rest of her day in Canberra.
Tony Abbott is in Sydney for a series of meetings today.
Taking to the skies: Wayne Swan flies to  the United States today to attend the G20 Finance Ministers' Meeting and the IMF and World Bank Spring Meetings in Washington DC. Foreign Minister Kevin Rudd will depart today to visit Vietnam where he will attend ceremonies to remember people who died in the Vietnam war and Berlin, to attend an International Security Assistance Force meeting.
Snapped up: Former ALP national secretary Karl Bitar has joined the Community Council for Australia as an advisor. Of the new role, he tells Capital Circle:  "I started today and I support the work they do. It allows me to continue to work in an area where I can make a contribution to society."
Desperately seeking spin doctors: Eight of the 22 members of the NSW government frontbench do not have a media adviser. Another five have interim message managers. And the vacancies are making one or two federal Coalition MPs nervous.
***Sign up to Capital Circle. Email Capital Circle***
Defence Minister Stephen Smith's decision to launch a raft of inquiries in the wake of the so-called "Skype sex scandal'' dominates front pages today.
The Australian reports that women will be allowed to serve in frontline combat roles after the Gillard government ordered the Australian Defence Force to bring forward the removal of bans that have stopped women from applying for the most dangerous and demanding military jobs. The paper <="" p="">
Peter Brent
Peter Brent
Expect the unexpected in a by-election
In this finely balanced federal parliament, a by-election could change everything. The most-considered scenario is naturally the Gillard government losing a seat, but...
More Peter Brent

Newman aids backers, axes foes
Campbell Newman Michael McKenna CAMPBELL Newman has moved to put his stamp on Queensland's state opposition with a frontbench reshuffle rewarding supporters of last month's coup.
Labor flags boost to LNG compo
Combat roles offered to women
Defence denies Houston threatened to walk
More National Affairs

ABCNews Australia | Business News: Magic Millions gets new boss

Magic Millions gets new boss
The Magic Millions on Queensland's Gold Coast has appointed racing industry veteran Vin Cox as its new managing director.

Miner's creek diversion plan creates water pollution fears
A north Queensland community says it is concerned local waterways could be contaminated if a mining company is allowed to divert a creek.

Vegie supplier goes bust
One of Australia's biggest suppliers of tomatoes, capsicums and zucchinis has been placed in receivership.

More Business Stories > 

Financial & Forex Info | Reuters - Daily Investor Update:


S&P, Nasdaq end down with energy shares
NEW YORK (Reuters) - U.S. stocks ended mostly lower on Monday as energy shares sold off on lower oil prices, and as earnings season begins with concern company outlooks may fall short of expectations. | Full Article

Alcoa reports strong first-quarter profit
April 11, 2011 04:37 PM ET
NEW YORK (Reuters) - Alcoa Inc reported a large first-quarter profit on Monday, after a loss a year ago as the price of aluminum, its primary product, rose sharply with demand for the metal. | Full Article
Nasdaq unbowed, D.Boerse unmoved in NYSE battle
April 11, 2011 04:33 PM ET
NEW YORK (Reuters) - Nasdaq OMX Group was unbowed on Monday after NYSE Euronext's board rejected its takeover offer in favor of a lower bid from Deutsche Boerse, while the German company looked set to stand pat as the battle for the Big Board intensified. | Full Article
Fed to stick with low rates, despite oil price rise
April 11, 2011 04:33 PM ET
NEW YORK (Reuters) - Two of the Federal Reserve's most powerful officials said on Monday the U.S. central bank should stick to its super-easy monetary policy, arguing inflation is not a threat and unemployment remains too high. | Full Article
Broker admits role in insider trading scheme
April 11, 2011 03:40 PM ET
NEWARK, N.J./NEW YORK (Reuters) - A mortgage broker who secretly recorded two friends who prosecutors say tried to cover up one of the biggest U.S. insider trading cases on record pleaded guilty to involvement in the 17-year scheme. | Full Article
Belarus leader says blast aimed at undermining stability
April 11, 2011 03:37 PM ET
MINSK (Reuters) - Belarusian President Alexander Lukashenko said on Monday that a blast at a metro station in the capital Minsk which he said had killed 11 people was aimed at undermining peace and stability in the country. | Full Article
Winklevoss twins must accept Facebook deal: court
April 11, 2011 03:13 PM ET
SAN FRANCISCO (Reuters) - Mark Zuckerberg won the latest legal battle against former Harvard classmates who accuse him of stealing their idea for Facebook, a multimillion-dollar feud made famous on the silver screen. | Full Article
Q+A: What's next in the budget fight?
April 11, 2011 04:27 PM ET
WASHINGTON (Reuters) - President Barack Obama's upcoming proposals to cut the U.S. deficit could produce "real" legislation and tangible results before the 2012 presidential election, the White House said Monday. | Full Article
Ivory Coast's Gbagbo held after French troops move in
April 11, 2011 03:17 PM ET
ABIDJAN (Reuters) - Ivory Coast's Laurent Gbagbo was captured and placed under the control of his presidential rival on Monday after French troops closed in on the besieged compound where he had been holed up for the past week. | Full Article
Rajaratnam's Galleon was a tight ship: witness
April 11, 2011 03:28 PM ET
NEW YORK (Reuters) - Raj Rajaratnam demanded discipline at his Galleon hedge fund, challenged his analysts at standing-room only morning meetings, and never asked any company for inside information, one of his former top lieutenants testified. | Full Article

Endo cuts patent risk with $2.6 billion American Medical
Common drug ineffective in early Alzheimer's-study
Drug resistance not a risk in acne treatment: study
Doctors won't always take their own advice: study
Health cuts loom in new U.S. budget fights

NYT | Afternoon Business News: Front-Runner for CBS Anchor Is '60 Minutes' Reporter


Front-Runner for CBS Anchor Is '60 Minutes' Reporter

Some of Scott Pelley's colleagues worry that becoming the anchor of the third-placed "CBS Evening News" would be a demotion.

German Exchange Doesn't Plan to Sweeten NYSE Offer

Deutsche Boerse does not plan to raise its bid for NYSE Euronext, because top managers of the German exchange operator are convinced that a rival bid has little chance of success.

Shake-Up at Renault Over 'Chain of Failures'

Carlos Ghosn, Renault's chief, escaped with his job Monday, but a debacle over false charges of industrial spying cost the carmaker's chief operating officer and six others their posts.

Renovation of an Airport Terminal, Keyed to San Francisco

A 1950s-era terminal at San Francisco International Airport now offers art, free Wi-Fi, 350 power outlets and upscale food.

Rajaratnam Lawyers Open Defense

Lawyers for the Galleon hedge fund chief seek to discredit Adam Smith, a government witness.

CBS | EveningNews with Kate Couric: Rising fuel prices send ripples through the economy

The CBS Evening News with Katie Couric newsletter



Hi everyone,
As Americans keep getting squeezed at the pump, our team of correspondents is taking a long, hard look at how rising fuel prices send ripples through the economy - including higher prices for food and consumer goods. Could this doom the economic recovery? Today, we get to see the fine print of that budget deal that was struck late Friday night. Nancy Cordes takes a magnifying glass to the agreement, to see which programs will be cut and by how much. For a while, it looked like a cease-fire deal had been worked out in Libya. Muammar Qaddafi seemed to agree to conditions set out by the African Union. But the rebels said no dice. They want all the Qaddafis out, period. Allen Pizzey is with the rebels in Benghazi. Polo may be the sport of kings - but it can be played by anyone. Our Steve Hartman tonight introduces you to only inner-city, African-American polo team in the country. Katie Couric

The Kentucky Derby contenders: A first look The first leg of The Triple Crown, the Kentucky Derby, is a month away; some contenders are ready, others, not so much

Gas prices spike, may threaten record high At an average of $3.74 per gallon and climbing, gas prices may hit 2008's record levels with ongoing Mideast crises

NATO grounding Qaddafi and Rebel air forces Sensitive to criticism it's favoring Libya's rebels, NATO insists the no-fly zone applies to both sides of the conflict

MarketWatch: Personal Finance Stories: Home-loan brokers face new limits on pay


Personal Finance Daily
APRIL 11, 2011

Monday's Personal Finance Stories

By MarketWatch

Don't miss these top stories:
New rules governing how mortgage-loan officers get paid are supposed to protect consumers from predatory lending practices, Amy Hoak writes today — but those same rules might end up costing home buyers more. Some think the rules put mortgage brokers at a competitive disadvantage and could push more business to the big banks. Others say it will be to consumers' advantage if the mortgage process is more competitive and transparent. Read more about this in Hoak's Home Economics column and take note of her suggestions about shopping carefully for home loans as these rules go into effect.

Also today, check out Ron Amadon's review of the 2011 Volvo S60 T6 AWD. He says there's a lot to like about his car, beyond safety and seats. But, he says, it doesn't really have enough soul to sway him from the Audi A4 or the BMW 3. And, he adds, "I can see Mikael Blomkvist driving one, but never Lisbeth Salander."

Anne Stanley , Managing Editor, Personal Finance

Home-loan brokers face new limits on pay

New rules now govern how mortgage-loan officers are paid. The rules are aimed at limiting predatory lending and protecting consumers, but some say they could bring new problems — and higher loan costs.
Read more: Home-loan brokers face new limits on pay.

2011 Volvo S60 T6 AWD: One for the fans

If you are a Volvo fan, perhaps even dating to when they all looked like '41 Fords, there is nothing in the new 2011 S60 T6 AWD to drive you away from the brand.
Read more: 2011 Volvo S60 T6 AWD: One for the fans.

Wal-Mart: Power to the people

By popular demand, the discounter is returning to its roots.
Read more: Wal-Mart: Power to the people.

Fed's Yellen attacks inflation charges

The surge in commodity prices over the past year will not have a lasting impact on growth or inflation, a top Federal Reserve policy maker said Monday in defending the central bank from charges it's fueling inflation.
Read more: Fed's Yellen attacks inflation charges.
Federal consumer bureau details plans for states

Branded by Republicans as having undue influence in bank foreclosure settlement talks, the top Obama administration adviser on a new consumer protection bureau detailed the ways the new agency will work together with attorneys general to enforce consumer protection laws.
Read more: Federal consumer bureau details plans for states.
Woes linger in economy, forecaster says

The U.S. economy will bounce back from a temporary soft patch in the first quarter, but lingering weakness will constrain growth, according to the Forecaster of the Month.
Read more: Woes linger in economy, forecaster says.

Mutual fund investors' tax holiday is ending

Many mutual funds did well enough in 2010 to chew up the bulk of their previously realized tax losses, which means that taxes are likely to become a story to fund investors, no matter which way the market heads this year.
Read more: Mutual fund investors' tax holiday is ending.
New CBOE volatility indexes gauge ETF risk

Investors are getting new ways to manage portfolio risk and measure sentiment using exchange-traded funds.
Read more:New volatility indexes gauge ETF risk.
Hedge funds enjoy record inflows in February

Managers pull in $34.9 billion in February as public pension plans allocate more in pursuit of higher returns, thus boosting hedge funds' assets to the highest level since October 2008, BarclayHedge and TrimTabs Investment Research say.
Read more: Hedge funds enjoy record inflows in February.
Bears, bugs still respect the bull

Despite resistance, top-performing veteran stock bears and gold bugs still respect this bull market.
Read more: Bears, bugs still respect the bull.

Global economy on the mend, IMF says

The global economic recovery should continue at around a 4.4% rate over the next two years and won't be undone by higher commodity prices or the earthquake in Japan, the IMF said in its latest World Economic Outlook
Read more: Global economy on the mend, IMF says.
China hits first quarterly trade deficit since ‘04

China swings to a trade deficit in January-March, fueling expectations that the nation's 2011 trade surplus will be much smaller than earlier expectations and in previous years.
Read more: China hits first quarterly trade deficit since ‘04.
U.K. re-arms for coming currency war

The British government will stock up on foreign currency reserves to defend the pound.
Read more: U.K. re-arms for coming currency war.