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Jun 22, 2011


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UN agency backs NBN offload plan
THE United Nations telecommunications agency has backed the Gillard government's plan to eventually offload the National Broadband Network.
Telstra signs $11bn NBN deal
TELSTRA has signed definitive agreements that will see it sell its existing copper network into the country's new national broadband network.
UXC unified into UXC Connect
THE three infrastructure chunks of listed IT firm UXC Limited have been welded into one unit that will trade as UXC Connect.
Board flies in to sign $11bn deal
THE $11 billion deal for Telstra to transfer its fixed-line monopoly to the NBN Co is expected to be unveiled in Canberra today.
Telstra to remove asbestos for NBN
TELSTRA will bear most of the responsibility for removing asbestos from infrastructure it leases to the government for the NBN
Ballet points the way for digital presence
AUDIENCES are itching to get to the arts online, through mobile internet and social media.
UK hacker may be extradited to the US
A BRITISH teenager suspected of masterminding a global hacking plot may be extradited to the US.
Oracle buys website builder FatWire
US software giant Oracle has announced its acquisition of FatWire, whose software is used for developing corporate websites around the world.
Online video provider Hulu seeks buyers
ONLINE video provider Hulu is seeking interested buyers after apparently receiving an unsolicited takeover offer.
Indian police halt Google cars
Google's Street View cars have run foul of Indian authorities, with police banning the photo-taking vehicles 
K propels Japan to No.1 in computers
A SUPERCOMPUTER built by Fujitsu grabbed the title of world's best-performing machine, returning Japan to the top of the computer arms race.
Adobe growth forecast disappoints
ADOBE Systems' second-quarter profit rose 54 per cent, but a tepid growth forecast disappointed Wall Street.
Nokia launches 'MeeGo' buttonless phone
NOKIA'S new smartphone will act as a stop-gap measure before consumers see the product of its marriage to Microsoft.
LG's 3D phone on sale in Australia in July
THE world of 3D has arrived on smart phones in Australia, with LG unveiling its Optimus 3D handset which shoots and displays 3D video and photos.
Tougher cyber laws call after 'tragic' hack
By Claire Connelly MASSIVE hack affecting almost 5000 Australian websites prompts call for tougher cyber crime laws.

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Labor looks for NBN -Telstra deal boost: The Australian Capital Circle

Capital Circle Newsletter
Labor looks for NBN-Telstra deal boost

The Australian Business Briefing: Greece could pose global threat: Fed

Greece could pose global threat: Fed
Ben Bernanke UPDATED Michael Crittenden and Andrew Ackerman FEDERAL Reserve chairman Ben Bernanke says the risk of contagion if Greece defaulted on its debt was significant.
Wall St slides on cautious Fed outlook
Wall Street traders UPDATED Jonathan Cheng and Steven Russolillo US stocks snapped a four-day winning streak, stumbling in late trading after the Federal Reserve issued a cautious economic outlook.
Boutique brewers raise glass to takeover
Microbrewers Andrew Burrell AUSTRALIAN-owned boutique brewers could find themselves more appealing if SABMiller succeeds in its takeover bid for Foster's Group.
Qantas firms on Asian airline
Airlines Steve Creedy, Aviation writer QANTAS is pushing ahead with plans for an Asian-based full-service airline as part of wide-ranging moves to fix its international operations.
Power shortages threatens China growth
China's biggest coal fired power station in Zouxian, Shandong Michael Sainsbury CHINA'S worst summer of power cuts since 2004 threatens to disrupt the economy and add to inflationary pressures.
ANZ delays euro bond in tough market
anz Hannah Benjamin DIFFICULT markets have forced ANZ's New Zealand unit to postpone the launch of its planned inaugural euro-denominated covered bond.
BHP can buy more energy
Michael Yeager Matt Chambers, Resources BHP Billiton petroleum boss Michael Yeager says he is looking at acquisitions after the $US4.8bn purchase of Chesapeake Energy shale assets.
Floats: private equity sets pace
Katherine Woodthorpe Susannah Moran PRIVATE equity firms offer shareholders better value when it comes to floats, according to a recent research study.
Financial Markets
Wall St slides on cautious Fed outlook
Wall Street traders UPDATED Jonathan Cheng and Steven Russolillo US stocks snapped a four-day winning streak, stumbling in late trading after the Federal Reserve issued a cautious economic outlook.
Gold climbs near two-month high
Oil rises 1.3pc as inventories decline
Financial Markets Coverage
Mining & Energy
Gold climbs near two-month high
gold Tatyana Shumsky GOLD futures ended near a two-month high after the Federal Open Market Committee left monetary policy unchanged today.
Oil rises 1.3pc as inventories decline
Power shortages threatens China growth
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Inside Job - Charles Ferguson: FORA t.v. -The World is Thinking -

Stocks end down after Fed comments on economy: By Laura Mandaro - MarketWatch




By Laura Mandaro 

SAN FRANCISCO (MarketWatch) -- U.S. stocks ended with solid losses Wednesday after the Federal Reserve lowered its economic forecast and Chairman Ben Bernanke commented on the risks to the U.S. from a European debt default. After trading close to the flatline ahead of Bernanke's 2:15 p.m. news conference, the Dow Jones Industrial Average DJIA -0.66% ended the session down 80.3 points, or 0.7%, to 12,109.67. The S&P 500 SPX -0.65% slid 8.4 points, or 0.7%, to 1,287.14. The Nasdaq Composite COMP -0.67% lost 18.07 points, or 0.7%, to 2,669.19. Bernanke said U.S. banks' direct exposure to Greece was small but noted a disorderly sovereign default would likely roil global financial markets. He also said it was unclear how much of the U.S. slowdown was temporary or permanent. 

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Reuters - Reuters - Daily Investor Update: Wall Street falls after 4 up days on Fed's comments.

Wall Street falls after 4 up days on Fed's comments
NEW YORK (Reuters) - Stocks dropped on Wednesday after the Federal Reserve acknowledged the sluggish pace of the U.S. economic recovery without hinting at further plans for stimulus. | Full Article

Fed cuts GDP forecast; no hint of more support
June 22, 2011 04:19 PM ET
WASHINGTON (Reuters) - The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of further monetary support, saying growth should pick up soon. | Full Article
London Stock Exchange sweetens its TMX bid
June 22, 2011 04:20 PM ET
TORONTO (Reuters) - The London Stock Exchange sweetened its friendly bid for the operator of the Toronto Stock Exchange to $4.1 billion on Wednesday, topping a hostile offer from a Canadian consortium. | Full Article
Exclusive: OneWest gains a ray of hope for Paulson in glum times
June 22, 2011 11:36 AM ET
BOSTON/NEW YORK (Reuters) - John Paulson's roll of the dice on a lender that rose from the wreckage of the financial crisis is emerging as one of the few big winners for the hedge fund manager in what is shaping up as a downbeat year. | Full Article
FedEx profit jumps, expects robust 2012
June 22, 2011 12:59 PM ET
NEW YORK (Reuters) - FedEx Corp's quarterly profit and outlook beat forecasts as higher shipping rates and tight cost controls more than offset a slowing economic recovery and high fuel prices. | Full Article

CBS NEWS | Political Hotsheet Top Stories: Gingrich: "Big ideas" led to campaign defections

The CBS News Political Hotsheet newsletter

GOP presidential hopeful says staff left because of "different" philosophies; acknowledges ups and downs of campaigns
Read full story

Did the Palin bus tour run out of gas? Sarah Palin's "One Nation" tour is apparently on hold as questions arise (again) about former VP nominee's intentions

Obama to say Obama to say about 10,000 troops to withdraw this year and roughly 20,000 additional troops are expected to leave by Sept, 2012

Boehner cautions against sharp troop withdrawal Top Republican says he would back Obama if he listens to military, diplomatic officials advising on Afghanistan

Dem Hastings faces probe for alleged harassment Conservative group says independent Office of Congressional Ethics probing Democrat Hastings for alleged sexual harassment