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Jun 5, 2012

CBS News | Politics: CBS News projects Gov. Walker will win Wis. recall election

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June 05, 2012


CBS News projects Gov. Walker will win Wis. recall election
 
CBS News projects that first-term Republican Gov. Scott Walker will defeat Democratic challenger Tom Barrett in the Wisconsin recall election as the vote counting continues. Polls closed in the race at 9:00 p.m. Eastern Time.
Read more


NYT Global Update: Drone Strike Killed No. 2 in Al Qaeda, U.S. Official Says

Global Update


TOP NEWS

Drone Strike Killed No. 2 in Al Qaeda, U.S. Official Says

By DECLAN WALSH and ERIC SCHMITT
Abu Yahya al-Libi, the Qaeda deputy leader who escaped American custody in 2005, was killed in Monday's drone strike in Pakistan's tribal belt, according to an American official.

European Union Proposes Central Banking Regulator

By JACK EWING and JAMES KANTER
The plan could spread out the cost of bank rescues and show that countries were willing to cede power to centralized institutions to stablize the currency union.

Spain Warns on Borrowing as G-7 Discusses Crisis

By DAVID JOLLY
The Group of Seven finance ministers and central bankers met by conference call Tuesday as the Spanish Treasury minister said the moment was nearing when Spain could not borrow on the bond market.
Dining & Wine

A Good Appetite

Grassy, Sweet and in Season

By MELISSA CLARK
Green garlic, available in late spring and early summer, is best distinguished by its scent.
Opinion

Latitude

Chessmate

By HARTOSH SINGH BAL
Let chess players use computers during championships: it'll improve their game, their sense of their limitations and their understanding of the world.
WORLD

Putin Arrives in China for Regional Talks

By JANE PERLEZ
President Vladimir V. Putin of Russia and President Hu Jintao of China are expected to discuss Syria, Iran and efforts to squeeze the United States out of Central Asia, analysts said.

Syria Bars 17 Western Diplomats

By J. DAVID GOODMAN and NICK CUMMING-BRUCE
Syria's Foreign Ministry said on Tuesday that more than a dozen Western envoys were no longer welcome, a response to the coordinated expulsions last week of 11 Syrian diplomats.

Myanmar Newspaper Warns of Tensions Between President and Nobel Laureate

By THOMAS FULLER
Myanmar's state-run newspaper expressed concerns that the ''hard-won trust'' between President Thein Sein of Thailand and Daw Aung San Suu Kyi, the Nobel laureate, could "vanish."
BUSINESS

Europe's Fade Becomes Drag on Sales for U.S. Companies

By NATHANIEL POPPER
After weathering the first two years of Europe's economic crisis fairly well, some companies in the United States are warning investors that their sales on the Continent are slowing down.

Nervous Europeans Snap Up London Property

By STEPHEN CASTLE
From Italy, Greece, Spain and other countries in the euro zone, the affluent are moving money into hard assets valued in something other than euros.

Australia Trims Rate to Ward Off Global Troubles

By REUTERS
The central bank cut its benchmark interest rate for a second consecutive month in a bid to shore up confidence at home, citing a weaker outlook abroad and only modest domestic growth.
TECHNOLOGY

New San Francisco Tech Boom Brings Jobs but Also Worries

By NORIMITSU ONISHI
The influx has raised fears about the tech industry's growing political clout and its spillover economic effects.
Bits Blog

Napster Founders Unveil a Video Chat Service

By JENNA WORTHAM
Sean Parker and Shawn Fanning are unveiling Airtime, a social video service that lets people chat with their Facebook friends and strangers online.
Out There

Mystery of Big Data's Parallel Universe Brings Fear, and a Thrill

By DENNIS OVERBYE
The world's bank of digital information is growing at a rate of five trillion bits a second, and there's a lot going on inside that we don't know about.
SPORTS

Djokovic and Federer Survive to Set Up Semifinal Clash

By CHRISTOPHER CLAREY
Roger Federer rallied from two sets down to defeat Juan Martín del Potro, and Novak Djokovic saved four match points against Jo-Wilfried Tsonga to advance to the semifinals of the French Open.

Stosur and Errani Breeze Into Semifinals

By CHRISTOPHER CLAREY
This will be the third French Open semifinal in four years for Samantha Stosur of Australia, but until this year Sara Errani of Italy had won just one match in the Open's main draw.

Want to Beat Spain? Limit Its Passing and Hope for the Best

By ROB HUGHES
No team has outplayed Spain in a competitive match over the past four years, and the team is unlikely to change a winning formula for the Euro 2012 tournament.
U.S. NEWS

Wisconsin Votes on Recall of Governor

By MONICA DAVEY
A large turnout is predicted in a contest that pits the governor against the mayor of Milwaukee.

Senate Republicans Again Block Pay Equity Bill

By JENNIFER STEINHAUER
Republicans united against a bill that would make it easier for women to sue employers for pay discrimination.

Abortion Qualms on Morning-After Pill May Be Unfounded

By PAM BELLUCK
Some abortion opponents say emergency contraception pills may block fertilized eggs from implanting, but scientists say there is no evidence the pills work that way.
OPINION
Op-Ed Contributor

A Spear to the Heart of South Africa

By KAREN MACGREGOR
A controversy over a painting reveals the tensions that still run deep.
Op-Ed Contributor

Ousting Greece Will Not Bring Catharsis

By SIMON TILFORD
If mishandled, a Greek exit from the euro zone would collapse the euro.
Latitude

Independence Days

By SHMUEL ROSNER
A proposal to make Israel's Independence Day celebrations less dependent on the Hebrew calendar would make the state a little less Jewish.

MarketWatch | Personal Finance Daily: Tech stocks to buy until Facebook is cheap enough

By MarketWatch
Don’t miss these top stories:
While Facebook Inc. and other one-time social-media darlings stumble, Walter Price, co-manager of the $1 billion Allianz RCM Technology Fund, looks to established technology companies with what he calls attractive earnings growth. Read the FundWatch column on MarketWatch by Jonathan Burton and check out which tech stocks to buy until Facebook FB -3.83%  is cheap enough.
In other investment news, Mark Hulbert notes that some sentiment measures are now showing more gloom and doom than at any time in almost two years. Hey, that’s great news; according to contrarian analysis, he writes, this correction is close to being over.
But bear with the following, Jon D. Markman writes on the Trading Deck: Opinions will differ, but it certainly looks as if institutional investors are hunkering down for a bear market and recession. They may be wrong or they may be right, but that’s what their actions say.
Either way, you’ll find lots of investment analysis and commentary on MarketWatch.
Anne Stanley , managing editor, Personal Finance

INVESTING

Tech stocks to buy until Facebook is cheap enough

Facebook’s stock offering may have killed the next wave of IPO stars and burned individual investors, but one veteran technology-sector investor is willing to give the social-media icon a second chance — at $20 a share.
Read more: Tech stocks to buy until Facebook is cheap enough.

Correction close to being over

A tradable low is close at hand, at least according to contrarian analysis.
Read more: Correction close to being over.

Is the bear around the corner?

Opinions will differ, but it certainly looks as if institutional investors are hunkering down for a bear market and recession. They may be wrong or they may be right, but that’s what their actions say.
Read more: Is the bear around the corner?
Page 1 Page 2

Stocks and markets in the News | After Hours: Mattress Firm shares stumble after hours

By Carla Mozee, MarketWatch 

LOS ANGELES (MarketWatch) — Shares of Mattress Firm Holding Corp. dropped more than 10% Tuesday evening, with the company’s quarterly sales falling short of Wall Street’s projection. 

Mattress Firm MFRM -1.34% , a retailer that sells its own brand of mattresses along with lines including Sealy and Simmons, saw its stock slump 12% at $30.90 in active volume. The company said first-quarter revenue rose 38% to $209.8 million from $151.9 million a year ago, but the most recent result was below the Thomson Reuters consensus estimate of $212 million. 

 
Casinos place bets on the mall The continuing expansion of casinos has included racetracks, riverboats, urban centers and a reclaimed steel mill. Now there's a first: a casino in an existing shopping mall. Alexandra Berzon has details. (Photo: Getty Images) 

Adjusted earnings of 31 cents a share were ahead of Wall Street’s call of 25 cents a share. Profit was $9.7 million, or 29 cents a share, compared with $1 million or 5 cents a share in the year-earlier period.
Mattress Firm increased its full-year earnings forecast to a range between $1.46 and $1.50 a share, and backed its full-year sales outlook. Analysts currently expect earnings of $1.51 a share. Read more about Mattress Firm's quarterly results, forecast. 
 
During the regular session, U.S. stocks finished higher, aided by a better-than-expected report about activity in the services sector. The Dow Jones Industrial Average DJIA +0.22%  logged its first win in five sessions, closing up 26 points, or 0.2%, to 12,127.95. The S&P 500 Index SPX +0.57%  rose 0.6% to 1,285.50 and the Nasdaq Composite Index COMP +0.66%  gained 0.7% to 2,778.11.
Carla Mozee is a reporter for MarketWatch, based in Los Angeles.

NYT Afternoon Business News: E.U. Proposes Centralized Banking Regulator



BUSINESS
Bits Blog

Napster Founders Unveil a Video Chat Service

By JENNA WORTHAM
Sean Parker and Shawn Fanning are unveiling Airtime, a social video service that lets people chat with their Facebook friends and strangers online.

E.U. Proposes Centralized Banking Regulator

By JACK EWING and JAMES KANTER
The plan could spread out the cost of bank rescues and show that countries were willing to cede power to centralized institutions to stablize the currency union.

Senate Republicans Again Block Pay Equity Bill

By JENNIFER STEINHAUER
Republicans united against a bill that would make it easier for women to sue employers for pay discrimination.
DealBook

MF Global Trustee Says Claims May Exceed $3 Billion

By BEN PROTESS
Louis J. Freeh, the trustee overseeing the bankruptcy of MF Global, estimates that creditors, including banks, big investors and service providers, could have more than $3 billion in claims against the failed brokerage.
Media Decoder Blog

Clear Channel and Taylor Swift's Label Agree to Reinvent Royalty System

By BEN SISARIO
The deal allows Clear Channel to save money in the fast-growing, but unpredictable, world of Internet radio, while giving Taylor Swift and her label access to an income stream in traditional radio they have long coveted.

CBS NEWS | Political Hotsheet Top Stories: Jill Biden: Joe would be a great president

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CBS POLITICAL HOTSHEET TOP STORIES


Congressman Issa: Senior DOJ officials made "false and misleading" statements
Read full story
Issa: DOJ officials

In Wis., reports of voter suppression efforts As voters head to the polls in Wisconsin recall election, reports of misleading robocalls and mailings

Jill Biden: Joe would be a great president Vice President's wife says "Joe would make a great president"

Crossroads GPS blasts Obama on debt in new ad Karl Rove-linked group spends $7 million on ads attacking Obama for "growing our debt faster than our economy"

Wisconsin recall: Will Scott Walker survive? $63.5 million spent in fight to unseat Wisconsin governor who pushed through law cutting public employee bargaining rights

Stocks and Marketsin the News | Wall Street at Close: U.S. stocks lifted by ISM services index

U.S. Markets

U.S. stocks lifted by ISM services index U.S. stocks rise, with the Dow Jones Industrial Average closing higher for the first time in five sessions, after better-than-expected data in the services sector.

DealBook | DealB%K Afternoon Edition: To Avoid Raising Capital, MF Global Moved Around Sovereign Debt


Tuesday, June 5, 2012
TOP STORY
To Avoid Raising Capital, MF Global Moved Around Sovereign Debt Facing pressure last summer to increase its capital cushion, MF Global moved some of its risky European debt holdings to an unregulated entity in an effort to avoid having to raise the extra money, according to a new report by the bankruptcy trustee.
MF Global Trustee Says Claims May Exceed $3 Billion Louis J. Freeh, the trustee overseeing the bankruptcy of MF Global, estimates that creditors, including banks, big investors and service providers, could have more than $3 billion in claims against the failed brokerage.
DEALBOOK HIGHLIGHTS
Pedestrians reflected in a window near a display of the share price for Facebook in May.
In Silicon Valley, Weighing the Fallout From Facebook As shares of the giant social network have slumped, several top industry players are warning that entrepreneurs could face strong headwinds.
Oracle Buys Collective Intellect to Bolster Social Media Analysis The technology giant said it had acquired Collective Intellect, a social media analysis firm, just a day after Salesforce.com agreed to buy Buddy Media for $689 million.
Thomas H. Lee Takes Stake in Party City in $2.69 Billion Deal The private equity firm Thomas H. Lee Partners announced on Tuesday that it would buy a majority stake in the party goods retailer Party City in a deal valued at $2.69 billion.
BUZZ TRACKER
Hedge Fund Hires Former Fed Governor Kroszner EQA Partners, a Chicago-based hedge fund, said on Tuesday that it had hired Randall Kroszner, a former governor of the Federal Reserve whose mandate included bank supervision and regulation. Mr. Kroszner, who will join EQA as a partner and chief economist, will continue to teach at the University of Chicago.
Shareholders Approve Venoco Buyout Venoco, a California oil company, said on Tuesday that a majority of outstanding shares had been voted in favor of a $770 million buyout being led by the company's chairman and chief executive, Timothy M. Marquez. The Deal Professor took a look at the deal last month.
Google to Buy Meebo Google has agreed to buy the social media platform Meebo for an undisclosed sum, the start-up announced on its Web site on Monday. AllThingsD, the industry blog, reported that the price was in the "$100 million neighborhood."
LOOKING AHEAD
Economic Reports Data released on Wednesday will include revised first-quarter productivity and the Federal Reserve's beige book.
Corporate Earnings Companies scheduled to report results on Wednesday include Hovnanian Enterprises.
Overseas The European Central Bank will issue a decision on interest rates on Wednesday. Michel Barnier, Europe's commissioner for financial services, will publish a draft law on cross-border cooperation to handle failing banks.

Money Show Investors Daily Alert: Jim Jubak Explains How to Profit from a Resurgent Dollar

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Jim Jubak on MoneyShow.com

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NYT Breaking News: Deputy Qaeda Leader Abu Yahya al-Libi Killed in Drone Strike, U.S. Official Says

Breaking News
The New York Times
Tuesday, June 5, 2012
-----

Deputy Qaeda Leader Abu Yahya al-Libi Killed in Drone Strike, U.S. Official Says

The official, speaking on condition of anonymity to discuss intelligence matters, described Abu Yahya al-Libi as one of Al Qaeda’s “most experienced and versatile leaders,” and said he had “played a critical role in the group’s planning against the West, providing oversight of the external operations efforts.”

The official, speaking on condition of anonymity to discuss intelligence matters, did not give details about how Mr. Libi’s death had been confirmed.

Read More:
http://www.nytimes.com/?emc=na

BIV Business Today News: Billionaire puts James Island on sale for $75 million




Real Estate and Development

Billionaire puts James Island on sale for $75 million

Telecommunications entrepreneur and billionaire Craig McCaw, whose brother John McCaw formerly owned the Vancouver Canucks, is selling B.C.’s James Island for $75 million.

B.C., Vancouver building permits up in April

Construction intentions in B.C. rose 15.2% to $856 million in April, year over year, according to Statistics Canada numbers released today.

Hospitality and Tourism

 

B.C. tourism sector will need 101,000 more workers by 2020: report

Most of the 101,430 workers that tourism industry employers will have to recruit and train by 2020 will be for jobs vacated by retiring baby boomers, according to a new Tourism Labour Market Strategy produced by tourism resource organization go2.

Tourism campaign sells B.C. to North America

Launched under the province's tourism strategy, the 100 B.C. Moments marketing campaign is trying to sell North America on visiting B.C.

Mining and Energy

 

Canada is world’s top destination for mining, metals deals: Ernst & Young

Canada topped the global mining and metals sector as the largest target destination by total deal value in the first quarter of 2012, according to Ernst & Young.

BC Hydro seeks public input on long-term power plan

BC Hydro is seeking public input on a draft plan for how to deal with the 50% jump in electricity demand that it expects within 20 years, as a result of resource development in northern B.C.