Jun 8, 2011
Breaking News Alert
The New York Times
Wednesday, June 8, 2011
U.S. Is Intensifying a Secret Campaign of Yemen Airstrikes
The Obama administration has intensified the American covert war in Yemen, exploiting a growing power vacuum in the country to strike at militant suspects with armed drones and fighter jets, according to American officials.
The acceleration of the American campaign in recent weeks comes amid a violent conflict in Yemen that has left the government in Sana, a United States ally, struggling to cling to power. Yemeni troops that had been battling militants linked to Al Qaeda in the south have been pulled back to the capital, and American officials see the strikes as one of the few options to keep the militants from consolidating power.
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The Economist | Selected New Articles: Syria Suffering / Chinese Censorship / America's Economy ... and more
Syria: Bloodshed and confusion
Chinese censorship: Fǎ Kè Yóu, River Crab
America's economy: Ben's big speech
Military camouflage: That old razzle dazzle
Housing markets: Subsidence problem
Daily chart: Military spending
Online debate: Does banking competition lead to innovation?
Financial & Forex Info | The Australian Capital Circle: Live cattle export ban draws fire from farmers, Indons.
|Live cattle export ban draws fire from farmers, Indons|
|The Gillard Government is giving farmers no guarantees of compensation, as Indonesia flags a complaint to the WTO.|
The PM's Diary: Julia Gillard begins her day in Darwin and will head to the Charles Darwin University mid-morning. She'll be back on the VIP this afternoon, flying to Canberra ahead of tomorrow's funeral for Lieutenant Marcus Case. Speaking to Fran Kelly this morning, the PM said she had met with cattle industry representatives about the live export ban, but refused to promise industry compensation. "They do want to see this trade last in the long term and so do I. In order to do that, we have to get this right,'' she said.
The PM rejected Indonesian suggestions Australia had breached trade rules: "What we have done does not breach the Wold Trade Organisation rules, we can under those rules make appropriate arrangement s for animal welfare and we have done that''. She also defended the pending refugee deal with Malaysia, saying the government was in "advanced discussions'' with Malaysia.
Tony Abbott is in Helensburgh, New South Wales and visiting the Peabody Metropolitan Mine at 11am to campaign against the carbon tax.
Treasurer Wayne Swan will hand down the Productivity Commission's report on international climate regimes at noon in Brisbane. He flagged on Tuesday the report shows seven of Australia's top-10 trading partners have adopted major policies to reduce pollution. The coal and gas industries have hit back already, arguing the report should look at the measures taken by Australia's competitors.
The press gallery ball is six days away and the annual charity auction has begun. On offer this year is dinner for six with Julia Gillard at The Lodge or Kirribilli House; a tennis lesson and brunch with Tony Abbott and Liberal MP John Alexander; tickets to watch the Brisbane Broncos play the Gold Coast Titans with Wayne Swan; a breakfa
Financial & Forex Info | Reuters - Technology Report: Technology Report: Apple, Google cloud can help curb online piracy: U.S.
Apple plans to build a circular "spaceship" building in hometown Cupertino -- and be the best office building in the world, CEO Steve Jobs said. The ailing Jobs, formally on leave from the company, made his second public appearance in two days late on Tuesday to show off plans to the Cupertino city council. Apple has grown "like a weed" Jobs said, and needs a place to put roughly 12,000 people. The massive new structure would be in addition to the main campus at 1 Infinite Loop.
Facebook is providing European regulators with information about its use of facial recognition technology, in response to concerns about the company's roll-out of the technology's availability outside of the U.S.. Facebook said there was no "formal investigation" under way. The move comes after comments by Gerard Lommel, a Luxembourg member of the so-called Article 29 Data Protection Working Party, who said the group would study Facebook's use of facial recognition technology for possible rules violations, according to a report in Bloomberg earlier on Wednesday.
EBay is hunting for acquisitions to speed up its development of image recognition and augmented reality features as the online retailer and auctioneer seeks to capitalize on the potential of mobile phones to help consumers make impulse purchases. Steve Yankovich, head of eBay mobile, told Reuters his division had the company's full support to spend money on innovative technology, as the fastest growing part of eBay which is helping to renew the 15-year-old company's image.
Research firm Gartner lowered its view on global PC market growth for 2011 to 9.3 percent this year, down from the 10.5 percent it previously forecast, due to economic uncertainties as well as a lack of compelling PC products.
For 24 hours on Wednesday, websites with more than 1 billion combined visits a day joined distribution companies to enable IPv6 -- a new Internet protocol with 4 billion times as many addresses as the nearly exhausted pool of Internet addresses used today -- on their main services. Google, Facebook, Akamai, Yahoo, Limelight Networks and Verisign were some of those taking part.
"IPv6 is fundamentally about allowing the Internet to scale to meet the expectations and demands of a global population of 7 billion, coupled with increased expectations of how many devices are expected to be able to connect to the Internet," said Matthew Ford of the Internet Society, a non-profit group dedicated to the open development of the Internet, which organized World IPv6 Day.
Prompted by the soaring cost of developing and marketing their medicines, drug companies are embracing the Internet in a bid to drive down costs. Pfizer, the world's biggest drugmaker, is pushing the envelope on clinical trials by conducting the first ever "virtual" study of a medicine, in which patients will be able to participate by using home computers and smartphones. At the same time, several large companies are changing the way they communicate and market their medicines to doctors by establishing new online services to answer product queries and let physicians order free samples.
Financial & Forex Info | Reuters Daily Investor Update: Growth worries hit Wall Street for a sixth day
|Growth worries hit Wall Street for a sixth day|
|NEW YORK (Reuters) - Stocks extended losses for the sixth straight day on Wednesday as investors worried that a slowing economy could deepen the market's retreat. | Full Article|
|OPEC oil talks collapse, no output deal|
|June 08, 2011 04:38 PM ET|
|VIENNA (Reuters) - OPEC talks broke down in acrimony Wednesday without an agreement to raise output after Saudi Arabia failed to convince the oil cartel to lift production. | Full Article|
|Fed: Default would be dangerous; Fitch may cut rating|
|June 08, 2011 04:20 PM ET|
|NEW YORK (Reuters) - A default would have severe reverberations in global markets, a top Federal Reserve official said just hours after Fitch Ratings warned it could slash credit ratings if the government misses bond payments. | Full Article|
|Growth slowed in spring but didn't stall: Fed|
|June 08, 2011 03:48 PM ET|
|WASHINGTON (Reuters) - Growth slowed in some U.S. regions during May as costlier food and energy as well as supply disruptions stemming from a major earthquake in Japan in March took a toll, the Federal Reserve said on Wednesday. | Full Article|
|Exxon has 3 deepwater Gulf of Mexico discoveries|
|June 08, 2011 03:38 PM ET|
|HOUSTON (Reuters) - Exxon Mobil Corp has made two big new oil discoveries and a natural gas find in the deepwater Gulf of Mexico, news that underscores the importance of the prolific basin to U.S. crude output. | Full Article|
|Financial transparency skin-deep at medical journals|
|More oppose than support Republican Medicare plan: poll|
|Germany defends E.coli response as death toll rises|
|"Silent" strokes less common in physically fit|
By CLIFFORD KRAUSS
Over the objections of Saudi Arabia, OPEC decided on Wednesday to maintain its crude oil output levels and may meet again within three months to discuss a possible production increase.
By JULIA WERDIGIER
But the British oil giant said there were no plans to sell its stake in the Russian joint venture TNK-BP.
By DUFF WILSON
The agency conducted a lengthy study and determined that an unusually high number of people suffered from muscle injuries when taking higher dosages.
By ELISABETH ROSENTHAL
Strong government incentives in European and Asian countries have given those countries the lead in clean energy technologies.
By LANDON THOMAS Jr.
Prime Minister George A. Papandreou had seriously considered a plan to transfer as much as 40 percent of its government debt to the European Central Bank. Now his focus is back on austerity.
Personal Finance Daily
JUNE 08, 2011
Watch out for your online image
- How to protect your online identity and image
- Don't let cheaper gas fool you into spending
- Don't sell a dull market short
- Why Groupon's IPO is no deal
This applies to rumors, and now even more so to personal and business information online. Marty Orgel writes about people who've run into problems regarding information about themselves or their businesses, ranging from simple mistakes and stuff that's old and irrelevant to blatant attacks. Read what the pros say about how to handle these issues and how to protect your online identity and image, as well as those of your business.
Oh, and be careful what you write. It'll be out there for a long, long time.
— Anne Stanley , managing editor, Personal Finance
How to protect your online identity and image
The best thing you can do if your online reputation has been jeopardized is to enlist the help of professionals.
Read more: How to protect your online identity and image.
Don't let cheaper gas fool you into spending
The recent drop in gasoline prices has consumers feeling more confident and ready to spend. But that confidence may be short-lived.
Read more: Don't let cheaper gas fool you into spending.
Don't sell a dull market short
Many worry that declining trading volume during the summer months is a drag on the market. But the historical data don't show that low trading volume is necessarily bearish.
Read more: Don't sell a dull market short.
Tablet war pushes PC makers to focus on R&D
Competition in the tablet market is pushing PC makers to focus more on R&D and ecosystems.
Read more: Tablet war pushes PC makers to focus on R&D.
OPEC's summer spoiler
Oil cartel's Vienna meeting pits price hawks against price doves, producing a "no decision" that dashes remote hopes for relief at the gas pump, writes Jim Jelter.
Read more: OPEC's summer spoiler.
Why Groupon's IPO is no deal
The overhyped IPO is just the latest sign of a new dot-com mania, writes Brett Arends.
Read more: Why Groupon's IPO is no deal.
ECONOMY AND POLITICS
Markets throw back Bernanke life preserver
Fed Chairman Ben Bernanke threw financial markets a life preserver, but the markets have thrown it back, disappointed that the U.S. central bank was not preparing another quantitative-easing ocean liner to come to its rescue, Fed watchers said.
Read more: Markets throw Bernanke a life preserver.
Emerging markets uncoordinated on IMF leader
Two days ahead of a key deadline, emerging-market nations have failed to coalesce around a candidate to be the next leader of the International Monetary Fund.
Read more: Emerging markets uncoordinated on IMF leader.
ECB expected to signal July rate hike
European Central Bank President Jean-Claude Trichet is expected to offer a reliable verbal signal that a rate hike is just a month away when he holds his June news conference Thursday.
Read more: ECB expected to signal July rate hike.
By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- U.S. stocks on Wednesday fell for a sixth straight session, marking the longest losing streak for the S&P 500 since February 2009, as investors culled positions in stocks most leveraged to economic growth, including resources and technology. The Dow Jones Industrial Average DJI -0.18% dropped 21.87 points, or 0.2%, to 12,048.94, led by more than 1% drops in Caterpillar, Inc. AA -0.34% , Alcoa, Inc. AA -0.34% and American Express Co. AXP -0.29% . It was the Dow's longest losing stretch since July. The S&P 500 SPX -0.42% ended down 5.38 points, or 0.4%, to 1,279.56, led by drops in materials and financial sectors. The Nasdaq Composite COMP -0.97% fell 26.18 points, or 1%, to 2,675.38.
CFTC Revokes Registrations of Texas-based M25 Investments, Inc. and M37 Investments, LLCWashington, DC - The U.S. Commodity Futures Trading Commission (CFTC) revoked the registrations of M25 Investments, Inc. (M25) and M37 Investments, LLC (M37), of Waxahachie, Texas, as registered Commodity Trading Advisors. The Initial Decision, issued on May 4, 2011 by a CFTC Administrative Law Judge (ALJ), resolves a CFTC statutory disqualification proceeding brought against M25 and M37 on February 23, 2011 (see CFTC Press Release 5991-11, February 24, 2011).In the Initial Decision, the ALJ entered a default judgment against M25 and M37 and found that M25 and M37 were unfit for registration based upon the entry of an order for permanent injunction, other equitable relief, and for civil penalties on October 25, 2010 in the U. S. District Court for the Northern District of Texas (see CFTC Press Release 5927-10, October 27, 2010).The federal district court’s October 25, 2010 order found that, from December 2007 to September 2009, the defendants and their representatives fraudulently solicited individuals, often targeting elderly persons through their churches, in West Virginia, Texas, Mississippi, Maryland and other states to trade forex and forex options. The order prohibits M25 and M37 from violating the Commodity Exchange Act as charged and from seeking registration with the CFTC in any capacity, among other sanctions. The district court also ordered M25 and M37, among other defendants, to jointly and severally pay restitution to defrauded customers of $7,404,036.56 and required M25 and M37 to jointly and severally pay a $7.1 million civil monetary penalty.CFTC Division of Enforcement staff members responsible for this case are Timothy M. Kirby, Brandon T. Tasco, Kevin K. Batteh, Kara Mucha, Gretchen L. Lowe and Phyllis J. Cela.Last Updated: June 7, 2011
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