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Jun 1, 2012

NYT Global Update: Worst U.S. Job Data in a Year Signals Stalling Recovery

Global Update


Worst U.S. Job Data in a Year Signals Stalling Recovery

Payroll growth that came in at less than half of what analysts had expected confirmed fears that the United States's recovery has markedly slowed, adding to a global economic pall.

Rights Council Requests Syria Massacre Inquiry

As the United Nations Human Rights Council called for an inquiry into the massacre in Houla, activists reported the execution-style killing of 11 factory workers.

Putin Sees Worsening Conflict in Syria but Rejects Outside Intervention

Vladimir V. Putin has emerged as the fulcrum in efforts by Western nations and Arab foes to force President Bashar al-Assad of Syria to step down.

Lens Blog

Signs of Syria

Oliver Hartung's photos evidence the omnipresence of the Assad dynasty in Syria and its psychological grip on the people.

Op-Ed Contributor

Long Live the Queens and Kings

Queen Elizabeth's Diamond Jubilee is a reminder that monarchies still flourish across Europe.

Obama Order Sped Up Wave of Cyberattacks Against Iran

Even after the Stuxnet computer worm became public, President Obama accelerated cyberattacks against Iran that had begun in the Bush administration, temporarily disabling 1,000 centrifuges.

Egypt Awaits Mubarak Verdict and Its Aftermath

The verdict in the police shootings could inject a powerful new variable into the race to elect Hosni Mubarak's successor.

Russian Church Is a Strong Voice Opposing Intervention in Syria

Leaders of the Russian Orthodox Church say protecting Syria's Christians means supporting the rule of Bashar al-Assad. It's a position the government cannot ignore.

Wall Street Falls 2% on Jobs Data

Stocks on Wall Street closed sharply lower and benchmark bond prices marched higher as the latest jobs data in the United States provided evidence that the economy was still struggling.

Obama Turns to Congress for Jobs Help

The president, stung by the new unemployment report, called on Congress to enact measures to shake the United States out of its torpor.

Wal-Mart Board Challenges Rebuffed

At the retailer's annual meeting, executives made a point of addressing concerns raised by a report that a bribery inquiry at its Mexican affiliate had been suppressed.

On Facebook, 'Likes' Become Ads

Many companies pay Facebook to generate ads when users click to "like" their brands or reference them in some other way.

Google to Alert Users to Chinese Censorship

The search giant has added a software twist to its Web pages in China that warns users when they type a search term whose results are likely to be blocked in China.

Research in Motion, Struggling, Ponders a Dim Future

After rejecting the idea of a sale for months, the BlackBerry maker said it was pondering a potential deal for all or parts of the company. But did it wait too long?

Dwyane Wade Loves His Jordans and His Body Lotion

The Miami Heat player lets us inside his off-season home.

Solitary Refinement: A Runner's Quest

Thousands of miles from home at a training compound in Senegal, the 400-meter world champion Amantle Montsho of Botswana pursues her Olympic dream.

Stephens Continues Impressive March at French Open

Sloane Stephens, a 19-year-old unseeded American, defeated Mathilde Johansson of France in straight sets to advance to the fourth round.

American Nuns Vow to Fight Harsh Criticism From the Vatican

After being condemned as failing to uphold Catholic doctrine, the sisters are sending representatives to Rome to speak with Vatican officials.

Suspect's Bond Is Revoked in Trayvon Martin Shooting

George Zimmerman was ordered to surrender to authorities after a prosecutor accused him of lying about his finances at a bail hearing.

Using Gospel Music's Secrets to Challenge Black Homophobia

A historian of black gospel music has written a book that intends to expose what he calls the hypocrisy of the black church's opposition to same-sex marriage.

The Doctor Who Wouldn't Vaccinate

Shakil Afridi's covert work for the C.I.A. as a doctor involved in a bogus vaccination campaign isn't just hurting U.S.- Pakistani relations. It's undermining health drives everywhere.
Op-Ed Columnist

The Segmentation Century

How do you govern a diverging world? The answer to that question might help in dealing with the economic crisis in Europe.
Op-Ed Contributor

Yemen Can't Do It Alone

The new president has made gains against Al Qaeda. But he has yet to win the hearts and minds of his countrymen, while a humanitarian crisis is looming.

DealBooK | DealB%K Afternoon Edition: As Lock-Up Expires, Groupon's Shares Plunge.

Friday, June 1, 2012
As Lock-Up Expires, Groupon's Shares Plunge Shares in the online coupon giant tumbled as much as 10 percent on Friday, and by midafternoon remained mired at about $9.65 a share, as a lock-up on insider selling expired.
    Rajat Gupta's Wealth in Spotlight at Trial A private banker's notes indicate that Rajat K. Gupta's net worth was $84 million in 2008, the year when prosecutors say he leaked confidential corporate information to Raj Rajaratnam.
    Deal Professor: Securities Law Ruling Creates Unintended Problems Steven M. Davidoff says that in a 2010 decision, the Supreme Court changed the rules for when a securities lawsuit could be brought by an investor against a foreign entity. In effect, it took a sledgehammer to decades of case law with a ruling that lower courts are still trying to sort out.
    Verizon to Buy Hughes Telematics for $612 Million Verizon Communications said on Friday that it had agreed to buy Hughes Telematics, a maker of wireless systems for vehicles, for $612 million in cash.
    Facing Unwanted Suitor, KPN Considers Selling German Unit The Dutch telecommunications company is considering the sale of its German unit, as it tries to fend off the advances of América Móvil, the Mexican telephone operator owned by the billionaire Carlos Slim Helú.
    Formula One May Delay $3 Billion I.P.O. in Singapore The racing group looks set to tap the brakes on a proposed listing in Singapore because of increasingly weak demand for new offerings globally.
    The Disappearing Drachma Twitter was a flutter on Friday with screengrabs from the Bloomberg terminal for a security called "Greek Drachma (post Euro)," which briefly appeared then disappeared. BusinessInsider notes that the Bloomberg help desk said it was "an internal function" that was "set up to test."
    BP to Seek Sale of Russian Venture TNK-BP The British oil company said it had been approached by potential buyers for the venture, which has provided steady income but also been a source of conflict with its Russian partners, Julia Werdigier and Andrwe E. Kramer reported for The New York Times.
    • The New York Times
    • DealBook Video
      Business Day Live: Global Gloom
      Business Day Live: Global Gloom A weak jobs report adds to global economic gloom. Social media gets intimate.

From The Desk of Nick Nicolaas - Mining interactive: Bralorne Appoints High Level Director

Bralorne Gold Mines LTD.
 TSXV - BPM; Frankfurt – GV7 (WKN A0B 75M); OTCQX – BPMSF


Click Here for the Detailed Press Release

Dear Friends,

Patrick Kinsella, the new Director is a very important addition to the Bralorne Board.  His expertise in corporate and government relations will be very beneficial indeed as the Company moves forward.  I have known him for many years here in British Columbia, Canada where he is well known for his advice and assistance to corporations as well as his tenacious work ethic.

Bralorne’s Board and Management Team is getting stronger by the day.  Congratulations!!


Bralorne, another Gold Corp in the making????

Stay Tuned - - - as the Bralorne Gold Production Story Continuous to Excite!!

Regards from Victoria on beautiful  Vancouver Island, British Columbia, Canada,
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"

Bralorne Gold Vein

For more Bralorne information contact:
Mining Interactive Corp.

Donna Werbes
(778) 968-1623

Nick L. Nicolaas
(604) 657-4058

Stocks and Markets in the News | Wall Street at Close: Stocks close tough week with worst day in 6 months

SAN FRANCISCO (MarketWatch) -- U.S. stocks fell more than 2% on Friday, their worst day in six months and lost ground for the week -- the fourth losing week in the last five. Slim May growth in U.S. jobs, following weak Europe and China manufacturing data, sent investors into U.S. Treasurys and gold in a bruising start to the new month. The Dow Jones Industrial Average ended down 274.88 points, or 2.2%, to 12,118.57. It's down 2.7% for the week and 0.8% for the year. The S&P 500 lost 32.29 points, or 2.5%, to 1,278.04. It's now 10% down from a closing, 52-week high reached April 2. It fell 3% in the past week. The Nasdaq Composite lost 79.86 points, or 2.8%, to 2,747.48, down 3.2% for the week.
Stocks close tough week with worst day in 6 months

MarketWatch | Personal Finance Daily: 10 overlooked retirement tips


By MarketWatch
Don’t miss these top stories:
Robert Powell writes in his retirement column today about 10 lesser-known tips that could help make your retirement planning easier and your retirement more relaxing. They include planning for tax-efficient income and when and how to take Social Security.
Also on MarketWatch today, our car slide show isn’t just cars: it includes a boat, a train, a plane and even a robotic dinosaur. Check out 10 of the craziest things on wheels.
Anne Stanley , Managing Editor, Personal Finance

10 overlooked retirement tips

From withdrawal rates to tax-efficiencies, don’t miss these often-overlooked tips for retirement savers.
Read more: 10 overlooked retirement tips.

10 of the craziest things on wheels

From the “Ghostbusters” car and the world’s tallest motorcycle to Robosaurus, check out 10 of the wildest and craziest vehicles you’d ever want to own and perhaps drive.
Read more: 10 of the craziest things on wheels.

Lending standards: Too lax to too tough

The mortgage underwriting pendulum has swung the other way, from totally lax credit standards where practically anyone who could fog a mirror could obtain financing, to standards so tight that only the most credit-worthy folks qualify.
Read more: Lending standards: Too lax too tough.


Why less talk can make you more money

The best leaders are good listeners. So are the best investors.
Read more: Why less talk can make you more money.
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BIV Business Today News: FortisBC's bid to pre-empt strike; Tsilhqot'in to rally at Taseko Mines' AGM; CP workers forced back to work

Mining and Energy

Natural gas flame

FortisBC takes pre-emptive measures against natural gas workers strike

FortisBC (TSX:FBC) is taking pre-emptive measures against a possible strike by applying to the BC Labour Relations Board to have unionized natural gas-sector staff declared essential service workers.

Tsilhqot'in to rally over planned New Prosperity mine outside Taseko’s AGM

The battle over Taseko Mines Ltd.'s  proposed $1.1 billion New Prosperty Mine continues today as Tsilhqot'in chiefs and community members plan to rally outside Taseko’s annual general meeting between noon and 2 p.m. in downtown Vancouver.

EastCoal buys Ukrainian coal mine

Vancouver junior coal miner EastCoal Inc. (TSX-V:ECX) has finalized the acquisition of a coal mine in Ukraine, after raising $17 million through a private placement.



CP rail workers forced back to work

Canadian Pacific rail workers will return to work today in response back-to-work legislation passed on Thursday.

Environment and Sustainability

New website helps rural BC invest in green energy

First Nations and rural communities in B.C. looking to profit from partnerships with renewable energy companies have a new resource tool.

Retail and Manufacturing


Call for level playing field on goods prices to reduce cross-border shopping

The Retail Council of Canada (RCC) and four border-community chambers of commerce have asked the federal government to eliminate import tariffs on finished goods, to enable Canadian retailers to offer more competitive prices and reduce cross-border shopping.

The Economist | New Selected Articles: Jobs, Mexico and death

Free exchange: Third time unlucky
Just as in past years, America's economy in a summer swoon
read more »
Banyan: How to hop out of a cauldron
Pakistan must realise that its terror networks are a liability
not an asset
read more »
Americas view: A handbrake-turn to the left
in the polls

The PRD moves into second place
read more »

Baobab: All locked up
Charles Taylor, Liberia's former president, is sent to jail
for 50 years

read more »
Schumpeter: From Russia, unloved
The troubled super-major says it will sell up its prime
Russian asset

read more »
Democracy in America: The path to decriminalisation
Will drugs go the way of gay marriage?
read more »
Babbage: To and from the grid
Net metering is the best thing to happen to solar power
read more »
Graphic detail: Death
Where are you most likely to die from disease?
read more »
Online debate: Mexican elections
Can any political alternative, from right or left, derail the campaign of the PRI?
read more »

Stokcks and Markets in the News | Europe - Middle. Europe ends sharply lower on PMIs, U.S. payrolls. East


For Spaniards, there’s no going back to the peseta For Gregorio Cifuentes and other vendors at a market in the Chamberi neighborhood of central Madrid, reminders of Spain’s crisis are daily as customers hit by the financial crisis spend less and less. Yet, for he and others, returning to the peseta is no option. 1:05 p.m. Today
Europe ends sharply lower on PMIs, U.S. payrolls European stock markets close the week sharply lower after U.S. payrolls fall short of expectations, and downbeat European PMI data throw clouds over the region’s manufacturing sector. 12:32 p.m. Today
FTSE 100 drops after weak global data U.K. stocks slump on Friday after manufacturing activity in Europe and China slide, while U.S. nonfarm payrolls numbers come in worse than expected. 12:32 p.m. Today

Europe-MiddleEast Headlines

Italian bonds reverse losses, 10-year yield drops FRANKFURT (MarketWatch) -- Italian government bonds reversed early losses to post solid gains in afternoon trade Friday, dragging down yields and leading a rally by Spanish government bonds, analysts said. Italy's 10-year bond yield fell 0.20 percentage point to 5.86%, while Spain's 10-year yield fell 0.07 percentage point to 6.51%, accordign to electronic trading platform Tradeweb. The euro erased a loss to trade at $1.2409, up from $1.2369 on Thursday. Growing speculation the European Central Bank will move to further inject liquidity into the euro-zone financial system or restart its dormant bond-buying program helped trigger a short covering rally, said Nick Stamenkovic, fixed-income economist at RIA Capital in Edinburgh. French bonds also jumped, pushing the 10-year yield down by 0.23 percentage point to 2.12%. French bonds have substantially outperformed German bunds since mid-May, even as German yields fell to record lows. Strategists said French and other non-German core bonds have benefited as yield-hungry investors seek safety, but spurn German debt due to its low return.
10:06 a.m. Today
In Egypt, only the Islamists can Some analysts think Egypt’s markets were disappointed by the voters’ failure to produce a decisive winner in the recent election and by the two candidates’ polarized backgrounds. Amotz Asa-El argues that between the secular Ahmed Shafiq and the Islamist Mohammed Morsi. only the fundamentalist can make the hard choices necessary to boost the nation’s economy.
10:03 a.m. Today
Spain regions post balanced budget in Q1 Spain’s government says Friday the country’s regions posted a balanced budget in the first quarter, even as fresh signs of strain are becoming evident in the euro zone’s fourth-largest economy.
9:23 a.m. Today
Europe stocks drop after U.S. payroll data LONDON (MarketWatch) - European stock markets turned sharply lower on Friday afternoon after U.S. nonfarm payrolls data fell short of market expectations. Data showed 69,000 jobs were added to the U.S. economy in May, the smallest increase in a year, and well below analysts' expectations of a 165,000 increase. The Stoxx Europe 600 index dropped 2.2% to 234.54. The German DAX 30 index trailed other major European bourses and plunged 3.6% to 6,040.39. In France, the CAC 40 index gave up 2.6% to 2,939.90, while the U.K. FTSE 100 index slumped 1.5% to 5,244.15. Spain's IBEX 35 index fell 0.6% to 6,048.50.
8:42 a.m. Today
Italy, Spain default insurance costs hit record FRANKFURT (MarketWatch) -- The cost of insuring Spanish and Italian government debt against default via instruments known as credit default swaps, or CDS, hit new records on Friday, according to data provider Markit. The spread on five-year Spanish CDS widened to 610 basis points from 596 basis points on Thursday. That means it would now cost $610,000 annually to insure $10 million of Spanish debt against default for five years, up $14,000 from the previous day. The spread on Italian CDS widened by 22 basis points to 579. Core euro-zone countries also saw a rise, with the French CDS spread widening by 8 basis points to 225 and Germany widening by 4 basis points to 106, Markit said.
6:47 a.m. Today
Irish voters seen backing EU fiscal pact: reports FRANKFURT (MarketWatch) -- Irish voters appear to have endorsed the European Union's fiscal treaty, news reports said Friday, citing initial tallies. Politicians on both sides of the debate said the treaty appears to have the support of around 55% of those who voted, Dow Jones Newswires reported. The vote count got under way at 9 a.m. Dublin time. Voters went to the polls on Thursday. Ireland's ISEQ General Index fell 0.6%, but outperformed sharper losses for major European indexes. The yield on 10-year Irish government bonds rose 0.07 percentage point to 7.46%, according to electronic trading platform Tradeweb.
6:36 a.m. Today
German 2-year yield dips into negative territory FRANKFURT (MarketWatch) -- The yield on two-year German government debt dipped into negative territory for a second day on Friday as investors proved willing to pay for the privilege of parking their money in a perceived safe haven amid rising uncertainty over the outlook for the euro zone. The yield on Germany's two-year note [de:2yr_ger], known as the Schatz, traded at minus 0.001% in recent action, according to electronic trading platform Tradeweb, after falling as low as minus 0.033% in earlier activity. Yields fall as bond prices rise. The yield on the 10-year Spanish governent bond rose 0.06 percentage point to 6.64%.
4:49 a.m. Today
Irish stocks rally after treaty referendum LONDON (MarketWatch) -- Irish stocks rallied on Friday morning as the country's referendum on the European Union's new fiscal treaty was likely to pass, Reuters reported. The Irish ISEQ General Index jumped 1% to 3,091.02 in an otherwise negative European stock market. The news organization said the Irish population voted "Yes" by more than a 60/40 margin, citing government sources who had access to polling data. Official results will be out later in the day. Ireland is one of the only countries in the EU to have held a referendum on the fiscal treaty, and Irish voters have previously rejected two European referendums. Prime Minister Enda Kenny ahead of the referendum urged the nation's voters to tick the "Yes" box on the ballot to safeguard access to further borrowing. Under the terms of the fiscal treaty member nations must limit their annual structural deficit to 0.5% of gross domestic product, but will in return receive guaranteed future use of the euro zone's permanent rescue fund, the European Stability Mechanism.
3:33 a.m. Today

Money Show Traders News Alert: Trading with Market Internal Indicators

Traders Daily Alert

Tips for Traders
Trading with Market Internal Indicators, Greg Capra

Options Idea
3 Cost-Effective Option Hedges That Work, Bill Luby

Charts in Play
2 Retail REITs with Surging Volume, Tom Aspray

Currency Corner
Trade Forex News in 5 Low-Risk Steps, James Stanley

Trading Idea of the Day
How to Use (and Misuse) the CCI Indicator, Brandon Wendell

Daily Market Studies
Trading Outlook for Today: June 1, Daniel Gramza

Today’s Featured Videos & Exclusive Interviews
A Common Mistake That’s Easy to Fix, Sandy Jadeja
The Best of Swing Charts, Marc Rivalland
The Best Market for Beginning Traders, Hubert Senters
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Emerging Markets FX Insight—The Search for Relative Value, Daniel Hwang