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Apr 20, 2011

Financial & forex Info | Reuters Technology Report

Apple reported quarterly revenue of $24.67 billion on strong iPhone and Mac sales, racing past Wall Street estimates. In the quarter, the company sold 18.65 million iPhones and 3.76 million Macintosh computers. Analysts expected 16.3 million and 3.64 million, respectively. Sales of iPads and iPods fell short. The number of iPads sold was 4.69 million, shy of the 6.3 million expected. Sales of iPods were 9 million, versus expectations of 9.85 million.

Analysts said that the weaker-than-expected iPad sales will not detract from strong long-term demand. "We can attribute some of the weakness to stocking issues at some of the retail outlets and obviously the supply chain issue in Japan," said Capital Advisors Growth Fund's Channing Smith.

The next-generation iPhone will have a faster processor, look largely like the iPhone 4 and will begin shipping in September, three people with direct knowledge of the company's supply chain said.

AT&T survived the loss of its exclusive U.S. rights to sell the iPhone, eking out a slight increase in subscribers in the first quarter and surprising Wall Street, though some analysts said the growth came at too high a cost. The No. 2 U.S. mobile service provider, which is planning to buy T-Mobile USA, had its wireless service profit margin drop to 39 percent from 44.5 percent a year earlier.

EBay said it will buy Where, a company that delivers local advertising to mobile phones, in its latest push to allow more retailers to do business with customers through its services.

ABCNews Australia | Morning Business News: Carbon tax 'a scapegoat' for power bill rises

Carbon tax 'a scapegoat' for power bill rises
The Climate Institute says a $25 per tonne carbon price would cost the average household less than $4 a week on its electricity bill.

Clean-up still going on year after BP spill
Residents of coastal Louisiana in the United States are marking the first anniversary of the devastating BP oil spill in the Gulf of Mexico.

Tiger Airways safety under the spotlight
The air safety regulator has raised concerns about safety standards at budget airline Tiger Airways.

The Economist: Selected New Articles: Eastern Approaches | Democracy in America | Free Exchange| Jhonson | Prospero | Audio | Daily Chart | Upcoming Debate

Eastern approaches hears Poland complain publicly to the Lithuanian ambassador
Democracy in America calls for more comparisons of private- and public-sector pay
Free exchange pores over signs of a slowdown in China
Johnson notes the unintended ironies of America's newest plain-language campaign
Prospero watches a new film, "Habemus Papam"
Audio: Money talks
Daily chart: Numbers of legislators
Upcoming debate: Should Britain adopt the alternative vote?

Financial & Forex Info | Kitco New York Close Report

New York Market Close Apr 20/11 05:20 PM EDT

NYT: Afternoon Business News: Gold Tops $1500


Gold Tops $1,500 an Ounce in 'Flight to Quality'

Investors are worried about everything from global inflation to government debt to turmoil in North Africa and the Middle East.

Strong U.S. Earnings Give Markets a Lift

Several high-profile American companies delivered earnings that beat analysts' expectations. Housing data was also positive.

Prosecutors Describe 'Devastating Proof' of Rajaratnam's Guilt

In its closing argument, the government highlighted the secretly recorded conversations of Raj Rajartnam as "the most powerful evidence."
Bits Blog

3G Apple iOS Devices Store Users' Locations

A file was discovered on the Apple iPhone and 3G iPad that stores the device's location data.

Vote to Unionize Airport Screeners Goes to a Runoff

The nation's airport screeners voted to unionize, but federal officials said there would be a runoff because neither of the competing unions received a majority.

Financial & Forex Info | Reuters - Daily Investor Update | Change in earnings tune lifts Dow near 3-year high

Change in earnings tune lifts Dow near 3-year high
NEW YORK (Reuters) - Big earnings surprises gave a positive turn to investor sentiment on Wednesday, propelling U.S. stocks to their best day in a month and lifting the Dow industrials to their highest in almost three years. | Full Article

Apple crushes Street forecasts, revenue jumps
April 20, 2011 04:35 PM ET
SAN FRANCISCO (Reuters) - Apple Inc on Wednesday reported fiscal second-quarter revenue that blew past Wall Street expectations, fueled by solid demand for iPhones. | Full Article
American Express profit rises 33 percent
April 20, 2011 04:22 PM ET
NEW YORK (Reuters) - American Express Co's first-quarter profit rose 33 percent from a year ago, as its wealthy customers spent more on their credit cards. | Full Article
Existing home sales gain raises cautious hope
April 20, 2011 01:49 PM ET
WASHINGTON (Reuters) - Home resales volumes bounced back in March, a hopeful sign for recovery in the housing market, but prices continued to decline. | Full Article
Fiat sees "happiness" in Chrysler ownership
April 20, 2011 02:07 PM ET
MILAN (Reuters) - Fiat SpA is pushing ahead with plans to get 51 percent of U.S. No.3 carmaker Chrysler, a goal that boss Sergio Marchionne defined on Wednesday as "happiness" for the Italian car maker. | Full Article
Apple to ship new iPhone in September: sources
April 20, 2011 02:31 PM ET
HONG KONG (Reuters) - Apple's next-generation iPhone will have a faster processor and will begin shipping in September, three people with direct knowledge of the company's supply chain said. | Full Article
Politics, ideology overshadow debt limit talks
April 20, 2011 01:25 PM ET
WASHINGTON (Reuters) - In the looming fight over raising the debt limit, Washington will have its eye on two deadlines: July 2011 and November 2012. | Full Article
At Facebook headquarters, Obama seeks 2008 magic
April 20, 2011 03:47 PM ET
WASHINGTON (Reuters) - President Barack Obama takes early steps on Wednesday to recapture the magic of his exuberant 2008 campaign on a West Coast swing that starts at the nexus of social communications, Facebook headquarters. | Full Article
AT&T weathers loss of iPhone exclusivity
April 20, 2011 12:46 PM ET
NEW YORK (Reuters) - AT&T Inc survived the loss of its exclusive U.S. rights to sell the Apple Inc iPhone. | Full Article
Lobbying push targets lawmakers on debt vote
April 20, 2011 02:50 PM ET
WASHINGTON (Reuters) - They have been in Washington barely four months but the 85 first-term Republicans in the House of Representatives have found themselves the target of a massive lobbying campaign by Wall Street banks, big business and the Treasury. | Full Article

CBSNEWS | Political Hotsheet: Obama seeks friends at Facebook town hall

The CBS News Political Hotsheet newsletter

President heads to California for virtual town hall tied to his deficit-reduction push amid questions about his links to company
Read full story
Obama seeks friends at Facebook town hall

First lady's aborted landing classified as serious Michelle Obama airplane probe given FAA's most serious classification for operational errors; two investigations underway

Boehner: Politics shouldn't dictate Afghan war After trip to Afghanistan, Boehner urges president to "explain" how withdrawing troops would not undermine "tenuous progress" there

Obama outpacing challengers in Facebook As he heads to Facebook headquarters for town hall meeting, president dominates potential opponents on social networking site

Poll finds most can't name a 2012 GOP contender With little interest in the upcoming race and relatively little news coverage, most Americans don't know a single potential GOP candidate

MarketWatch | Personal Finance Daily: Freeport shares rally on results, dividend

Personal Finance Daily
APRIL 20, 2011

Wednesday's Personal Finance Stories

By MarketWatch

Don't miss these top stories:

Did your invitation from the Lord Chamberlain for the wedding of Britain's Prince William to Kate Middleton get lost in the mail? Don't worry, we have the whole schedule of how and when the big day (April 29) will be televised. And it's going to be televised a lot, Jennifer Waters writes. Not just the main event from London's Westminster Abbey, but hours and hours of coverage for a week or more leading up to it. Yes, we know. Everyone says they have no intention of sitting in front of their television set in the middle of the night to watch the tiara turn-out, and couldn't care less. But even the most conservative estimates peg viewership at or near 1 billion people, maybe even as much as a sixth of the planet's population. So you may want to take a look at our story, even if you're just planning to avoid the TV specials and coverage of all things House of Windsor. Avoiding it may be the hard part.

Anne Stanley , Managing Editor, Personal Finance


Where, when to watch the royal wedding on TV

Where and when to watch the extraordinary worldwide television coverage of the April 29 wedding of Britain's Prince William and Catherine Middleton in London.
Read more: Where, when to watch the royal wedding on TV.

William and Kate: Royal wedding preparation photos

The royal wedding will be watched by a billion or more people worldwide. Here's a selection of images, from palace to pub, leading up to the big day in London.
See photos: William and Kate: Royal wedding.


Google plays tour guide

Google's automatically generated walking tours are free, but will they send you anywhere worth seeing?
Read more: Google plays tour guide.

10 things the beauty industry won't tell you

Makeup and makeovers may not be as safe — or as effective — as you think.
Read more: 10 things the beauty industry won't tell you.


Obama to get face time on Facebook

President Obama on Wednesday planned to take questions from Facebook users during an Internet "town hall" in Silicon Valley during a trip out West to raise campaign cash and drum up political support.
Read more: Obama to get face time on Facebook.

A year later, BP fund process brings frustration

A year after its well exploded and poured millions of gallons of petroleum into the Gulf of Mexico, BP's $20 billion fund designed to compensate victims still prompts frustration among those most affected by the spill.
Read more: A year later, BP fund process brings frustration.

S&P's false negative: Downgrade gets rejected

China has called on the U.S. to take "responsible" policies and measures to protect the interests of its lenders after ratings agency Standard & Poor's downgraded its outlook on U.S. credit rating.
Read more: China urges ‘responsible' U.S. action on debt.


Freeport shares rally on results, dividend

Copper-and-gold miner cashes in on commodities boom with strong first quarter, gives back cash to shareholders.
Read more: Freeport shares rally on results, dividend.

S&P's false negative: Downgrade gets rejected

It's surprising that anyone takes seriously what Standard & Poor's says about anything, let alone the credit rating agency's views on the political process.
Read more: S&P's false negative: Downgrade gets rejected.

MarketWatch | Metals Stocks : Gold futures settle at record on weaker dollar

 SAN FRANCISCO (MarketWatch)— Gold futures settled at a record Wednesday as the U.S. dollar fell sharply and investors bought it as a hedge against inflation and economic uncertainty.
Gold for June delivery /quotes/comstock/21e!f:gc\m11 GCM11 +0.48%  rose $3.80, or 0.3%, to end at $1,498.90 an ounce on the Comex division of the New York Mercantile Exchange.
It traded as high as $1,506.20 an ounce, according to CME Group, which owns Comex. That is an intraday record for the metal.
Gold hit intraday and settlement records in the previous three sessions as well.
The dollar was weaker against most major currencies on Wednesday. The euro touched its highest against the U.S. currency since January 2010.
Fears of inflation as crude-oil prices rallied Wednesday also aided gold’s record run. Gold is considered the ultimate storer of wealth and as such gains when investors fear price increases and U.S. dollar debasement.
The International Monetary Fund on Wednesday piled in on the U.S. misfortunes. The French newspaper Le Monde quoted Olivier Blanchard, the fund’s chief economist, as saying there was reason to be concerned about the U.S. deficit, because the country has no credible to cut it.
The IMF issued a warning on Tuesday about the danger of overheating emerging economies, “with explicit reference to mounting inflationary pressure in these countries,” analysts at Commerzbank wrote in a note to clients. “It hardly comes as a surprise, but does reinforce the general concern about inflation, and makes gold increasingly attractive as a store of value.”
  Gold pushes to new record
Gold reaches a record price per ounce amid fears European nations may struggle to pay debt.
The rally for gold also lifted silver /quotes/comstock/21e!f1:si\k11 SIK11 +2.87% , with the May contract up 55 cents, or 1.3%, to settle at $44.46 an ounce. That is a 31-year high for the metal.
“With the U.S. dollar index hovering near its yearly lows, it should come as little surprise that both gold and silver are performing as well as they are, as investors continue to move assets into the precious-metals sector in order to divest from currencies — especially the greenback,” said Mike Zarembski, senior commodity analyst at optionsXpress, in a research note.
Metals got an extra boost from steep losses for the dollar against the euro /quotes/comstock/21o!x:seurusd EURUSD +1.23% , which earlier in the day reached a 15-month high on the greenback.
The dollar index /quotes/comstock/11j!i:dxy0 DXY -0.88% , which tracks the performance of the U.S. unit against a basket of rival currencies, dropped to 74.465, down from 75.038 late Tuesday. Read more on the dollar’s retreat.
Gold and the dollar tend to move in opposite directions. A lower dollar makes gold cheaper and therefore more attractive for holders of other currencies.
“Gold prices came under significant selling pressure at the start of the year on the back of a run of positive macroeconomic data,” analysts at Barclays Capital said in a research note.

NFA: News,Facts,Actions - Spring 2011

Financial & Forex Info | Money Show Daily Trading Alert®

Daily Trading Alert

Tips for Traders
Steel Stocks Not Holding Their Weight
, Greg Harmon
Options Idea
Protect Profits from Earnings Surprises
, Andrea Kramer
Charts in Play
Chinese Yuan Takes Global Stage
, Tom Aspray
Currency Corner
A Simple, Reliable Forex Technique
, Rick Wright
Trading Idea of the Day
Limited-Time-Only Abercrombie Trade
, Corey Rosenbloom
Daily Market Studies
Trading Outlook for Today: April 20
, Daniel Gramza Exclusive Interviews
Trading Safely in Volatile Times
, Brian Dolan

Santa Fe Gold Provides Update on Transaction with Columbus Silver and Cease Trade Orders


ALBUQUERQUE, New Mexico - April 20, 2011 - Santa Fe Gold Corporation (OTCBB: SFEG) ("Santa Fe") and Columbus Silver Corporation (CSC: TSX-V) ("Columbus Silver") jointly announced today that Santa Fe is continuing to use reasonable efforts to obtain a revocation of the cease trade orders against Santa Fe issued by the British Columbia and Ontario Securities Commissions in 2003 after Santa Fe did not make required Canadian regulatory filings.

Santa Fe's President and CEO, Pierce Carson, said, "We cannot take any steps in furtherance of the previously announced transaction with Columbus Silver until the cease trade orders have been revoked by the British Columbia and Ontario Security Commissions. However, although no assurances can be given that we will be successful, should the cease trade orders be revoked, we intend to pursue a transaction with Columbus Silver."

Robert F. Giustra, Columbus Silver's President and CEO, commented, "We remain supportive of Santa Fe's efforts. A potential business combination or strategic relation should deliver both near and long-term value to Columbus Silver and Santa Fe shareholders through existing production growth as well as significant development and exploration upside from a diverse portfolio of precious metal properties."

About Santa Fe Gold:
Santa Fe Gold is a U.S.-based mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral properties. Santa Fe controls: (i) the Summit mine and Lordsburg mill in southwestern New Mexico, which began processing operations in 2010; (ii) a substantial land position near the Lordsburg mill, comprising the core of the Lordsburg Mining District; (iii) the Ortiz gold property in north-central New Mexico; (iv) the Black Canyon mica deposit and processing equipment near Phoenix, Arizona; and (v) a deposit of micaceous iron oxide (MIO) in western Arizona. Santa Fe Gold intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals.
To learn more about Santa Fe Gold, visit

Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended June 30, 2010 and its most recent quarterly reports filed with the United States Securities Exchange Commission (the "SEC"), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via and its United States public disclosure filings may be accessed via  and readers are urged to review these materials.

W. Pierce Carson, President and Chief Executive Officer

This publication is an advertisement and/or a company update on behalf of Santa Fe Gold Corporation and may not be construed as investment advice.  This is not a solicitation to buy or sell securities and this does not purport to be a complete analysis of the company mentioned.  Investing in securities is speculative and carries a high degree of risk.  Past performance does not guarantee future results.  Readers should consult with their own independent tax, business and financial advisers with respect to any investment, including any contemplated investment in the advertised company. All information contained in this advertisement should be independently verified with the advertised company and by an independent financial analyst. You should independently investigate and fully understand all risks before investing. This email was prepared for and by Santa Fe Gold Corporation staff.  The information set forth herein was obtained from sources believed to be reliable, but there no guarantee to its accuracy or completeness. For further information on Santa Fe Gold Corporation, please contact R.J. Bommarito, director of shareholder communications at Current stock price and trading volume information is available from your broker and from online information services such as America Online, Yahoo and Bloomberg.  All projections, estimates, compilations of future earnings and/or market share represent the best estimate by management of the advertised company of the expected future growth of Santa Fe Gold Corporation and/or the industry as a whole.  While management of Santa Fe Gold Corporation believe all facts and figures are accurate, no assurances can be given that any of the projected figures will be attained. This publication contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996.  The words "believe, expect, estimate and project" and similar expressions define forward-looking statements, which speak only as of the date the statement was made.  Santa Fe Gold Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.  Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified.  Future events and actual results could differ materially from those set forth in, contemplated in, or underlie the forward-looking statements.  The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.

Financial & Forex Info | Reuters - Deals Today

More consolidation is on the way in the power industry as global power provider AES is buying smaller Ohio-based rival DPL for $3.5 billion. The acquisition will help the company beef up its regulated power business that tends to provide steady returns even during tough market conditions.

Just days after posting a sharp drop in first-quarter profit, Bank of America said it plans to spin off its last large private equity unit, BAML Capital Partners, which has more than $5 billion in assets. It’s the latest in a series of moves the bank has undertaken to comply with new U.S. regulations that limit how much of their own capital banks are allowed to invest.

U.S. based hard-drive manufacturer Seagate Technology is buying Samsung’s loss-making disk drive unit for $1.4 billion in an attempt to take on rival Western Digital, which bought Hitachi’s global hard-drive business last month.

Rupert Murdoch’s News Corp has started talks on forming a consortium to make a bid for Formula One motor racing, sources familiar with the matter told Reuters.

Watch the trailer for HBO’s Too Big to Fail, a star-heavy film adaptation of Andrew Ross Sorkin’s book about the financial crisis.

Financial & Forex Info | Reuters- Before the Bell: Stock index futures signal gains; Intel eyed


Stock index futures signal gains; Intel eyed
(Reuters) Stock index futures pointed to a stronger open on Wall Street on Wednesday, with futures for the S&P 500 up 0.8 percent, Dow Jones futures up 0.5 percent and Nasdaq 100 futures up 0.8 percent at 0847 GMT. | Full Article

AT&T subscriber growth weak without iPhone exclusive
April 20, 2011 07:46 AM ET
NEW YORK (Reuters) - AT&T Inc posted weak subscriber growth in the first quarter as it gave up exclusive U.S. rights to sell the Apple Inc iPhone. | Full Article
Gold breaks $1,500 as investors seek security
April 20, 2011 07:36 AM ET
LONDON (Reuters) - Gold shot up above $1,500 an ounce on Wednesday for the first time ever as worries over the health of the global economy boosted the metal as a safe haven. | Full Article
Nasdaq's profit up 70 percent, amid buyout battle
April 20, 2011 07:55 AM ET
NEW YORK (Reuters) - Nasdaq OMX Group's quarterly profit rose 70 percent, as the exchange operator battling to buy out crosstown rival NYSE was helped by robust European and derivatives trading. | Full Article
Spain, Portugal to offer debt
April 20, 2011 07:16 AM ET
LISBON/MADRID (Reuters) - Spain will sell up to 3.5 billion euros in bonds on Wednesday in an auction that should give clues on whether it can avoid the bailout contagion that has engulfed the much smaller economies of Greece, Ireland and Portugal. | Full Article
Intel and VMWare give downtrodden tech sector a lift
April 20, 2011 02:20 AM ET
SAN FRANCISCO (Reuters) - Strong results from a clutch of technology heavyweights, led by top global chip maker Intel Corp and "cloud computing" specialist VMware Inc, may give the battered U.S. tech sector a boost. | Full Article
Apple to ship new iPhone in September: sources
April 20, 2011 07:29 AM ET
HONG KONG (Reuters) - Apple's next-generation iPhone will have a faster processor and will begin shipping in September, three people with direct knowledge of the company's supply chain said. | Full Article
BofA to spin off $5 billion private equity unit
April 20, 2011 03:23 AM ET
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday. | Full Article
Obama defends U.S. deficit plan, sees common ground
April 19, 2011 05:44 PM ET
WASHINGTON (Reuters) - President Barack Obama drew a sharp line on Tuesday between Republican and Democratic plans to cut the deficit, but he said a deal could be reached despite ideological differences between the two sides. | Full Article
Libyan rebel leader in Paris, conflict deadlocked
April 20, 2011 07:42 AM ET
BENGHAZI, Libya (Reuters) - Libyan rebel chief Mustafa Abdel Jalil met French President Nicolas Sarkozy in Paris on Wednesday as Western powers struggle to break a deadlock in the two-month conflict. | Full Article

The Washington Post Today's Opinions

The Washington Post

newsletter header

Ruth Marcus

 Ruth Marcus

A dire debt warning

Standard & Poor’s could get the political class off the dime.

Dana Milbank

 Dana Milbank

Ten Commandments for 2012

Judge Roy Moore joins GOP gaggle of gadflies. Surely a few Republicans can find room in their hearts for him.

David Ignatius

 David Ignatius

Up the ante in Mideast

We should spend less on Afghanistan and more on Egypt.

Harold Meyerson

 Harold Meyerson

Where the money is

Taxing the income from Americans’ labor doesn’t yield what it once did.

Katrina vanden Heuvel

 Katrina vanden Heuvel

Shared sacrifices

The only budget Obama should support is a progressive one.