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Jan 6, 2012

NYT Global Update: U.S. Economy Gains Steam as 200,000 Jobs Are Added



TOP NEWS

U.S. Economy Gains Steam as 200,000 Jobs Are Added

By SHAILA DEWAN
The United States added a robust 200,000 new jobs last month, the Labor Department said, in a sign that the economic recovery was gaining momentum.

Explosion in Syrian Capital Leaves 25 People Dead

By ANTHONY SHADID
A blast shook a densely populated neighborhood in Damascus in the second attack in Syria's capital in two weeks, state media said.
The Lede Blog

U.S. Navy Rescues Iranians Who Were Captured by Pirates

By J. DAVID GOODMAN and ROBERT MACKEY
The U.S.S. Kidd rescued thirteen people whose fishing vessel was seized in the North Arabian Sea in November, the Pentagon said on Friday.
Multimedia

Video: TimesCast | January 6, 2012

A bomb kills at least 25 people in a Damascus neighborhood | The United States adds 200,000 new jobs in December.
Opinion

Op-Ed Contributor

Joan of Arc: Enduring Power

By KATHRYN HARRISON
Six hundred years after her birth, Joan of Arc continues to captivate the imagination. Why?
WORLD

Political Role for Militants Worsens Fault Lines in Iraq

By JACK HEALY and MICHAEL S. SCHMIDT
A move by Iraq's government to welcome a deadly insurgent group into its political system is adding to sectarian tensions and could tilt the nation's center of gravity closer to Iran.
Immigration Upended

Migrants' New Paths Reshaping Latin America

By DAMIEN CAVE
In Mexico and Latin America, old migratory patterns are changing as migrants move to a wider range of cities and countries, creating regional challenges and opportunities.

Prosecutors in Egypt Call for Mubarak to Be Hanged

By DAVID D. KIRKPATRICK
In their closing arguments at the trial of former President Hosni Mubarak of Egypt, prosecutors said he was ultimately responsible for the killings of hundreds of peaceful protesters.
BUSINESS

More Time to Buy in Italy, but Is That a Good Thing?

By ELISABETTA POVOLEDO
A stimulus measure by the new prime minister, Mario Monti, allows shopkeepers to set their own hours, but while some praise the move, others say it will harm mom-and-pop stores.

S.E.C. Changes Policy on Firms' Admission of Guilt

By EDWARD WYATT
Companies settling civil securities charges will no longer be allowed to say they "neither admit nor deny" civil charges in cases where criminal guilt has already been established.

Data Show Euro Area Downturn Deepened at Year-End

By REUTERS
Retail sales fell and sentiment soured, but the first improvement in the business climate in 10 months offered hope that an expected recession may be mild.
TECHNOLOGY

Top 1% of Mobile Users Consume Half of World's Bandwidth, and Gap Is Growing

By KEVIN J. O'BRIEN
The gap between extreme users and the rest of the population is widening, according to Arieso, a company that advises mobile operators.
DealBook

Barnes & Noble Considers Spinning Off Its Nook Unit

By JULIE BOSMAN and MICHAEL J. DE LA MERCED
The company said that it is beginning "strategic exploratory work" to separate the Nook division to help the e-reader business grow. But a spinoff would raise questions about Barnes & Noble's ultimate fate.

Nook From Barnes & Noble Gains More E-Book Readers

By BRIAN X. CHEN
When the iPad hit the market, some people predicted that it would wipe out e-reader devices. But Barnes & Noble says its Nook is flourishing.
SPORTS

Who Will Be the Champions of 2012?

By CHRISTOPHER CLAREY
What teams and athletes will have success in the coming year? Christopher Clarey takes his best shot at naming the winners.

European Leagues Get Back to Business After a Holiday Focused on Britain

By ROB HUGHES
The Spanish and Italian leagues are back in play this weekend, while in England the F.A. Cup takes precedence.
On Soccer

It's Not Time to Panic for United, but It Is Time to Worry

By ROB HUGHES
Manchester United lost its second consecutive game Wednesday, 3-0 against Newcastle, and there is a sense of brooding uncertainty looming over the club at midseason.
U.S. NEWS
Makah Indian Reservation Journal

Washington Outpost Draws Those Hungry for Slap of Sea Spray

By WILLIAM YARDLEY
On the remote Makah reservation, visitors can experience an area's stormy euphoria and gloom - and still catch the ferry home for dinner.

Easier Route to Green Card to Be Proposed for Some

By JULIA PRESTON
The Bureau of Citizenship and Immigration Services is proposing to correct a bureaucratic Catch-22 that separated families for as long as a decade.

Big Study Links Good Teachers to Lasting Gain

By ANNIE LOWREY
Effects on students' lives beyond academics, in areas as varied as teenage-pregnancy and adult earnings, are cited.
OPINION
Op-Ed Contributors

Iran's Self-Destructive Gamble

By ALIREZA NADER and JAMES DOBBINS
Tehran needs to see that a nuclear weapons capability would be against its own interests.
Op-Ed Contributor

Down, but Not Out, in Paris

By CHRIS SPENCE
Short of cash? Credit cards maxed out? At least the folks at Crédit Municipal might accept your watch.
Op-Ed Contributor

Games and Gimmicks in the Senate

By LAURENCE H. TRIBE
Pro forma Senate sessions present an unconstitutional interference with the president's irreducible power and duty.

CBS News | Political Hotsheet Top Stories: Herman Cain to make "unconventional endorsement"

The CBS News Political Hotsheet newsletter

CBS POLITICAL HOTSHEET TOP STORIES    



   
Former presidential candidate to make endorsement on January 19 - though he is hinting he won't back a specific candidate
Read full story
Herman Cain to make

Romney surges in South Carolina poll Former Massachusetts governor sees his support jump to 37 percent in early January from 20 percent in December

NAACP leader blasts Gingrich food stamp comment Group's president and CEO calls the former House speaker's statement "inaccurate and divisive"

Santorum made millions after the Senate Former Pennsylvania senator found lucrative career in Washington after losing Senate seat in 2006 landslide

Paul campaign: Anti-Huntsman video Huntsman lashes out at web video showing him speaking Mandarin to adopted daughter posted by person identified as Paul supporter

DealBooK | DealB%K Afternoon Edition: European Banks Stash Extra Cash With Central Bank



Friday, January 6, 2012
TOP STORY
European Banks Stash Extra Cash With Central Bank Figures released on Friday showed that the European Central Bank had received 455 billion euros, or $578 billion, of overnight deposits from European banks, the highest figure since the euro zone was created in 1999.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    British Regulator Fines PWC $2.2 Million British authorities announced on Friday that they had fined accountancy firm PricewaterhouseCoopers 1.4 million, or $2.2 million, for failing to safeguard client assets at JPMorgan Chase's securities business in London.
    Citigroup's Deal to Sell OneMain Collapses
    Citigroup's Deal to Sell OneMain Collapses Citigroup's effort to sell a consumer-lending business has collapsed in recent days, as wobbly markets and a lackluster economy shut down hopes for a deal.
    BUZZ TRACKER
    S.E.C. Changing Policy on Admissions of Guilt The Securities and Exchange Commission is making a major change in how it settles some securities fraud cases, telling companies that they will no longer be allowed to say they neither admit nor deny the commission's civil charges when, at the same time, they admit to or have been convicted of criminal violations, Edward Wyatt of The New York Times reports.
    Will the Real Bob Diamond Please Stand Up? Federal records show that Robert Diamond, registered as the "president" of Barclays, donated $220 to Michele Bachmann's campaign in June, according to the Financial News. But it's not the Robert Diamond, the chief executive of the British bank, rather an imposter who lists an address that is "a high-rise block of flats next to a busy highway" in the Bronx.
    Wait Until Next Year? The euro currency can survive 2012, Christine Lagarde, the managing director of the International Monetary Fund, told reporters in South Africa, Reuters reported. "Will 2012 be the end of the euro currency? I seriously don't think so. It's a young currency, it's a solid one as well," she said.
    LOOKING AHEAD
    Economic Reports Data released on Monday will include consumer credit data for November.
    Corporate Earnings Companies reporting on Monday will include Alcoa.
    In Europe Chancellor Angela Merkel of Germany meets President Nicolas Sarkozy of France to discuss the eurozone debt crisis.
    For the latest updates, go to dealbook.nytimes.com » 

NYT Afterniin Business News: S.E.C. Changes Policy on Companies' Admission of Guilt




BUSINESS

S.E.C. Changes Policy on Companies' Admission of Guilt

By EDWARD WYATT
Companies settling civil securities charges will no longer be allowed to say they "neither admit nor deny" the commission's civil charges in cases where criminal guilt has already been established.

Former Chief Ends His Bid to Overhaul Olympus

By HIROKO TABUCHI
Michael C. Woodford, ousted after exposing accounting fraud at the company, said he had failed to win support in a proxy battle from Japanese institutional investors and creditors.
Bits Blog

HTC's Decline Is Samsung's Gain

By BRIAN X. CHEN
Both Samsung and HTC have been aggressive advocates of Google's Android operating system. Samsung's profits rose while HTC's profits sank. Their divergent performances illustrate the vast effort it takes to remain successful in the highly competitive mobile industry.
Bits Blog

Symantec Confirms 'Segment' of Source Code Was Stolen

By NICOLE PERLROTH
Hackers have stolen some of the programming code for two of Symantec's antivirus products for businesses, but the company said the products involved - which were Symantec Endpoint Protection 11.0 and Symantec Antivirus 10.2 - were four and five years old.

Fitch Joins Others in Cutting Hungary Debt to Junk Status

By BLOOMBERG NEWS
The third such downgrade in six weeks increases pressure on Prime Minister Viktor Orban to obtain an International Monetary Fund backstop.

MarketWatch | Weekly Roundup: top 10 stories Jan. 3 - 6


MarketWatch

Weekly Roundup
JANUARY 06, 2012

MarketWatch top 10 stories Jan. 3 - 6

By MarketWatch



NEW YORK (MarketWatch) — U.S. stocks ended the first week of 2012 in the green after a strong opening day performance on Tuesday was enough to outweigh jitters later in the week.

The Dow Jones Industrial (DJIA) average closed the week up 1.2%, while the broader S&P 500 Index (SPX) added 1.6%.

The tech-laden Nasdaq (COMP) was the big winner, adding more than 2.5% during the holiday-shortened 4-day week.

Greg Morcroft, assistant managing editor.

U.S. economy created 200,000 jobs in December

The U.S. economy gained 200,000 jobs in December and the unemployment rate fell to 8.5%, the Labor Department said Friday. Economists surveyed by MarketWatch had forecast the U.S. would add 150,000 jobs last month, with the jobless rate edging up to 8.7% from an initially reported 8.6% in November. Subtracting another decline in government jobs, the private sector boosted payrolls by 212,000. Read MarketWatch coverage of jobs report

6 stocks set to advance in 2012

I'm no bottom fisher, but there are several names on my watch list which have undergone meaningful corrections and the dust appears to finally be settling. Unlike a ‘Dogs of the Dow' type of review based solely on mean reversion, these are stocks which are starting to show some positive changes which bode well for higher prices in 2012. Read MarketWatch look at a half dozen interesting stock ideas

The dividend stock of the decade

After watching a busy night of politicians slinging you know what, I wondered if any of them ever took the time to visit the dividend stock of the decade? This fertilizer company has delivered some very sweet returns to investors for the last decade. Terra Nitrogen is a Master Limited Partnership traded on the New York Stock Exchange. Its assets consist mainly of a nitrogen manufacturing facility in Verdigris, Okla. I guess they don't want the headquarters in Deerfield, Ill., too close to the plant. Read about a dividend winner, on MarketWatch

Not buy-and-hold, but buy-and-sell rarely

As investment strategies go, it's pretty simple one. Even better, it's one that will improve, according to the authors of a newly published paper, the risk-adjusted return of your portfolio without much fuss.No, it's not a buy-and-hold strategy. Rather, call it a market-valuation-based-tactical asset allocation strategy. Or, if you prefer, and with apologies to the authors of the paper, call it the buy-and-sell-twice-a-decade strategy, when market valuations — as measured by the PE 5 (a version of Yale University Prof. Robert Shiller's PE 10 ratio) — are either very high or very low. Here's how it works Read Robert Powell's Your Portfolio column, on MarketWatch

What would it take to burst gold's price?

No one ever said gold was an asset for the faint-hearted. Or indeed, for anyone who doesn't enjoy an argument.To some it is the only true form of money, a king over the water just waiting to be re-installed on its rightful throne once the impostors are cleared out of the way. To others, it remains, as the economist John Maynard Keynes described it, a "barbarous relic," of no more relevance to the 21st century that the canal or the telegraph.Still, even by its usual standards, it was more contested than ever as 2011 closed out. Read MarketWatch Trading Deck item on gold

10 themes for 2012

Last year was full of meaningful moments.We witnessed an Arab Spring, a Japanese earthquake, a summer crash, and a royal wedding. Wall Street was occupied, and the U.S. credit rating downgraded. We paid respects to icons such as Steve Jobs, Joe Frazier, Elizabeth Taylor, Clarence Clemons, and Al Davis.The financial markets, however, never look back — they discount the probabilities of what will happen in the future. As such, in no particular order, here are 10 themes that could evolve as the year unfolds. Read MarketWatch report on 10 themes for 2012

Big Gateway pipeline hearings starting B.C.

Lights, cameras ... testimony. What's being called "the mother of all public hearings" begins next week in tiny Kitimat, B.C., over Enbridge's proposed Northern Gateway pipeline from Alberta's oil fields to tiny Kitimat, where an oil-tanker terminal would be built to get all that crude to foreign markets — mostly China. With the southward-bound Keystone-XL pipeline already very much in the public spotlight, this Canada-only pipeline is also causing major battle lines — and media strategies — to be drawn. Over 4,000 individuals and groups have signed up to testify in two dozen planned hearings across the province. Major Enbridge supporters have just come forth this week — four major oil companies with oil-sands operations. Read MarketWatch preview of fight over Oil Sands pipeline

China faces unrest from housing woes

Irate Chinese homeowners are among the top policy concerns for Beijing this year, according to analysts who say weakening house prices are stoking serious tensions.Financial author and CSLA Singapore managing director Fraser Howie calls it the "real unknown" of 2012, as there's no track record of how this newly emerged class of homeowners would react if the current softening in residential housing prices turns into a prolonged decline."It's too difficult to analyze what's going to happen," he said, citing the difficulty in sourcing accurate statistics on the property market and the short history of property ownership in China. Read about China's brewing homegrown housing crisis, on MarketWatch

Obama recess appoints Cordray to head CFPB

President Barack Obama on Wednesday employed a rarely used presidential maneuver to appoint his candidate to run a controversial new consumer-watchdog bureau, bypassing Republican opposition in the Senate and opening the door to legal and political attacks at the agency.The White House recess appointed Richard Cordray, a former Ohio attorney general, to head the Consumer Financial Protection Agency, a bureau charged with writing rules for mortgages and other consumer credit products.Obama said in a Wednesday speech in suburban Cleveland that Cordray would start working immediately to "make sure millions of Americans are treated fairly by mortgage brokers, payday lenders and debt collectors." Read MarketWatch coverage of Cordray appointment

How Kodak might emerge from bankruptcy

At one point in its storied 131-year history, Eastman Kodak (EK) had a stranglehold on just about anything related to photography. Those days are long gone. Over the decades, the company has slowly slipped out of the public consciousness as digital photography has swept aside virtually all remnants of Kodak's once-dominant presence. Its shares slid to the point where it was booted off the Dow in 2004, leading it to its current share price of 40 cents. And now it appears the company will declare bankruptcy. If that happens, and Kodak emerges, consumers can kiss the remaining remnants of the company's photographic business good bye. Read about Kodak's likely fate, on MarketWatch

ABC News Australia Morning Edition: Deadly bombing hits Syrian capital

ABC News


Top Stories

 

Deadly bombing hits Syrian capital

A suicide bomber has struck Syria's capital, Damascus, killing 26 people and wounding dozens more, state media said.
Angry residents were at the scene shouting and denouncing the bombing as the work of "terrorists".
But the Muslim Brotherhood has accused president Bashar al-Assad's regime of orchestrating the attack.
More »

 More Top Stories »

The Drum


The global equation: Growth = Debt

The constant complaint over the global financial crisis and ongoing recessions focuses on debt.
There is a key problem with this way of looking at global and local capitalism and the current crises we find ourselves in.
It is that capitalist growth equals monetary debts: the greater the growth, the greater the debt.
More »

More Analysis »


  

Australia





Rain may ease SA bushfire risk

Authorities hope rain forecast for the Flinders Ranges this afternoon will help fire crews battling a blaze in South Australia's Mid North.
More »


 More Australia »

White House proposes raise for federal workers: The Washigton Post | Politics Afternoon Edition

The Washington Post

Politics Afternoon Edition

HEADLINES

  1. White House proposes raise for federal workers

    The White House will propose a 0.5 percent pay increase for civilian federal employees as part of its 2013 budget proposal, according to two senior administration officials familiar with the plans.
    » Read full article
  2. Poll: Romney takes a big lead in South Carolina

    A new poll in South Carolina shows former Massachusetts governor Mitt Romney opening up a big lead, but former Pennsylvania senator Rick Santorum is catching on quickly in the Palmetto State.
    » Read full article
  3. Obama introduces Cordray to consumer bureau

    President Obama introduced Richard Cordray as the new director of a federal consumer watchdog agency, telling workers that they now have the full tools available under the law to protect ordinary Americans from Wall Street's abuses of recent years.
    » Read full article
  4. Rick Santorum can't seem to stop talking

    Now that voters are finally listening to the former Pennsylvania senator, he keeps talking, and talking, and talking.
    » Read full article
  5. Justice Department expands definition of rape

    The Obama administration on Friday announced a significant expansion of the FBI's definition of rape, which will now cover several forms of sexual assault and include male rape.
    » Read full article

MarketWatch | Personal Finance Daily: Why outlet malls are cheaper


MarketWatch

Personal Finance Daily
JANUARY 06, 2012

Why outlet malls are cheaper

By MarketWatch



Don't miss these top stories:

Do you love those deals you find at outlet malls? There's a reason why those clothes cost less — and you may not like it. Seems that retailers are taking a few shortcuts with the products they make for those stores. For more details, plus tips on how to navigate outlet malls to find the best deals, read Jennifer Waters's Consumer Confidential column today.

Plus don't miss Jonathan Burton's Weekend Investor for a look at 10 top money-making investment ideas for the year ahead.

Speaking of investing, are you ready to test your stock-picking skills against the pros and MarketWatch's own experts? Sign up now to play in MarketWatch's quarterly earnings-focused stock competition, in which you can use virtual money to win real prizes — including an iPad — over the coming four weeks. Go here to pick, trade, and win!

Andrea Coombes , Personal Finance editor

How to find the best deals at outlet malls

Should you make the trek to the outlet mall? It's not just last year's fashions anymore. Here's how to find the best deals.
Read more: How to find the best deals at outlet malls.


Co-signing a mortgage for a grandchild

Lew Sichelman explains a grandfather's options for helping his granddaughter and her husband obtain a mortgage.
Read more: Co-signing a mortgage for a grandchild.


Gasoline prices start the year with a bang

Gasoline prices at the pump start the year off with a bang — at the highest level ever recorded for the start of a new year, and analysts expect a particularly volatile 2012.
Read more: Gasoline prices start the year with a bang.


The truth about Kim Kardashian's taxes

Californian pressure group makes Kim Kardashian the poster girl for higher taxes. The only problem? They got their facts wrong. But apparently nobody cares.
Read more: The truth about Kim Kardashian's taxes.


INVESTING

10 money-making investment ideas for 2012

As you review your investments, think about how this year might be different from 2011 and ways it could bring more of the same. Tune out the noise, turn on the head lamps, and consider these 10 ways to position your portfolio in 2012.
Read more: 10 money-making investment ideas for 2012.


Fund investors uncork a new year

Already, a chorus of Wall Street pundits and prognosticators is making ominous "Year of Living Dangerously" rattles about 2012. Noise, noise and more noise. Sure, this year will be challenging for investors — what year isn't?
Read more: Fund investors uncork a new year.


Silly politics begs for market discipline

American politics is so filled with nonsense, it is high time we apply some basic market discipline. Americans should be allowed to invest in Romney or Obama futures.
Read more: Silly politics begs for market discipline.


ECONOMY & POLITICS

Jobs report, jobless claims tell similar tale

The week's economic data show improving rates of job creation as well as declining filings of first-time claims for unemployment insurance. But not all the employment data is so rosy. Take a look at the charts.
Read more: Jobs report, jobless claims tell similar tale.


1.36 million full-time workers say economy better

While we have a long way to go before everyone who wants a job has one, it's getting harder to deny that the U.S. labor market is improving.
Read more: 1.36 million full-time workers say economy better.


U.S. gains 200,000 jobs in December

The U.S. added 200,000 jobs in December and the unemployment rate fell for the fourth month in a row, to 8.5%, in a fresh sign the economy is picking up and businesses are more willing to hire, government data showed.
Read more: U.S. gains 200,000 jobs in December.


Jobs data shows healing economy: White House

Economists, Wall Street analysts and lawmakers react to Friday's nonfarm payrolls report, which showed that the U.S. added 200,000 jobs in December and the unemployment rate fell to 8.5%.
Read more: Jobs data shows healing economy.


Key Fed official keeps up housing push

The Federal Reserve keeps up its push for increased steps to lift the struggling housing market, as a key Fed president calls for more mortgage refinancing as well as principal reductions for hard-hit borrowers.
Read more: Key Fed official keeps up housing push.