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Jun 29, 2012

NYT Global Update: Syrian Groups Say Bloody Day Left High Toll of Civilians.

Global Update

 
 
TOP NEWS

Syrian Groups Say Bloody Day Left High Toll of Civilians

By ROD NORDLAND and RICK GLADSTONE
Rebel fighters reported the deadliest 24-hour period of the uprising as Kofi Annan, the special envoy for the United Nations, said he was hopeful about talks on Saturday.

Europeans Agree to Use Bailout Fund to Aid Banks

By STEVEN ERLANGER and PAUL GEITNER
The agreement, reached early Friday after all-night talks, cheered financial markets, but analysts warned that crucial details needed to be worked out.
Common Sense

Conservatives See Silver Lining in Health Ruling

By JAMES B. STEWART
Despite the affirmation of the health care law, some opponents were buoyed by the Supreme Court's limiting of Congress's power under the commerce clause of the Constitution.
Multimedia

Video: TimesCast | The Sweet Spot

With the Fourth of July upon us, David Carr and A. O. Scott offer their own fireworks and a movie tip.
Opinion

Latitude

When the Lights Go Out

By HUMA YUSUF
The miseries of millions of Pakistanis trying to cope with repeated power outages are testament to the corruption and ineptitude of the Pakistani government.
WORLD

Morsi Wants to Free Sheik Who Plotted U.S. Terror

By DAVID D. KIRKPATRICK
Sheik Omar Abdel Rahman was jailed for plotting to bomb New York City landmarks, and the pledge by Mohamed Morsi, the Egyptian president-elect, is likely to complicate relations with the United States.

Strauss-Kahn and Wife Separate, French Tabloid Reports

By MAÏA de la BAUME
Closer, a tabloid magazine, says Dominique Strauss-Kahn has moved to a friend's place in Paris. Lawyers for the couple say they plan to sue the magazine for invasion of privacy.

Unesco Places Nativity Church on Endangered Site

By THE ASSOCIATED PRESS
A Unesco committee approved a Palestinian bid to place the Church of the Nativity in Bethlehem on its list of sites of world heritage in danger - a move seen by some as mixing politics and culture.
BUSINESS

Markets Soar on European Breakthrough

By CHRISTINE HAUSER and DAVID JOLLY
Stocks on Wall Street surged after European leaders agreed to use bailout funds to recapitalize struggling banks directly. Euro zone shares closed ahead 5 percent.
DealBook

After F.B.I. Arrest, Madoff's Brother Pleads Guilty

By PETER LATTMAN and BEN PROTESS
Peter B. Madoff, who was arrested early Friday, pleaded guilty to criminal actions that enabled his brother, Bernard L. Madoff, to carry out the largest Ponzi scheme in history.
DealBook

Brewer to Buy Remaining Stake in Grupo Modelo

By MARK SCOTT
Anheuser-Busch InBev has agreed to buy the half of Grupo Modelo it does not already own for $20.1 billion, the latest deal in the fast-consolidating global brewing industry.
TECHNOLOGY

In Setback, RIM Delays BlackBerry's Next Version

By IAN AUSTEN
Research in Motion, the company behind BlackBerry phones, also reported a $518 million loss for the first quarter.

On YouTube, Amateur Is the New Pro

By ROB WALKER
Exploring the art and commerce of homemade videos.
Bits

Will Google's Personal Assistant Be Creepy or Cool?

By JENNA WORTHAM
Google Now raises questions about the line between when tech is helpful and when it makes users uneasy. The service will do things like remind an Android owner that they have a lunch date - but also who it is with, how to get there and when they should leave, based on traffic.
SPORTS

Roof Changing Tenor -- and Outcomes -- at Wimbledon

By CHRISTOPHER CLAREY
There have been subtle changes Wimbledon, but the biggest change is the retractable roof that has become an increasingly significant factor in matches.

A New Hero Challenges Notions of Italianness

By ELISABETTA POVOLEDO
After scoring the two goals that put Italy into the finals of the European Championship, Mario Balotelli has become an icon of a country still struggling with notions of citizenship and legal rights.

Tour De France Shaping Up to Be a 2-Man Race

By JON BRAND
The 99th edition of cycling's premier race may prove to be one of the most compelling in recent years, thanks to a pair of English-speaking riders.
U.S. NEWS

Helpful Hands on Life's Last Segregated Journey

By KIM SEVERSON
When a black person dies in one of the rural counties around Madison, Ga., chances are the body will end up in the hands of Charles Menendez.

Supporters Slow to Grasp Health Law's Legal Risks

By PETER BAKER
Early confidence in the law's constitutionality, based on Supreme Court precedents, proved to be a miscalculation that put the White House on the defensive as its legal strategy evolved over the last two years.

With Wild West Spirit, Tombstone Fights for Its Water

By FERNANDA SANTOS
When the government placed restrictions on repairs to pipes on federal land, a volunteer posse set out to do the work by hand and make a point about a storied Arizona town.
OPINION
Op-Ed Contributor

Please Rise for the National Rap Song

By ALEX MARSHALL
What if governments tried to update national anthems?
Op-Ed Columnist

The Real Winners

By PAUL KRUGMAN
The Supreme Court ruling upholding Obamacare certainly is a big victory for the president, all right, but the real winners are people like you.
Op-Ed Columnist

Modesty and Audacity

By DAVID BROOKS
The self-restraint of Chief Justice John Roberts Jr. has allowed for a process of discovery and innovation to enter the health care debate.

MarketWatch | Personal Finance Daily: International stock funds in a world of hurt



By MarketWatch
Don’t miss these top stories:
As the U.S. markets wind down the second quarter today, the S&P 500 is closing in on a 3.8% loss for the quarter and the Nasdaq is sitting at a loss of 5.7%, despite being up 3% for the month. Oil’s down 20% since the start of the quarter. What’s an investor to do? Don’t go digging for gold; Mark Hulbert writes today that the gold market has been so frustrating of late that even some contrarians are throwing in the towel.
We have our quarterly funds and ETFs review and outlook on MarketWatch today. Take a look at our report on international stock funds, bond funds and U.S. stock funds.
Anne Stanley , Managing Editor, Personal Finance

INVESTING

Has a major bear market in gold begun?

Might gold’s continual failure to respond to positive sentiment conditions mean that bullion has entered into a major bear market? That possibility needs to be taken seriously.
Read more: Has a major bear market in gold begun?

International stock funds in a world of hurt

“Stop the world, I want to get off” must be a common refrain these days for international-stock-fund shareholders. A tumultuous quarter left bailed-out countries and burned out investors, writes Myra Saefong.
Read more: International stock funds in a world of hurt.

Bond funds ride to the rescue

The second quarter was downright dismal, as every major U.S. and international stock mutual-fund category lost money. It was left to bond funds to rescue investment portfolios yet again.
Read more: Bond funds ride to the rescue

It’s ‘duck’ season for U.S. stock fund investors

The old Wall Street adage to “Sell in May and go away” was a sound survival strategy for U.S. stock fund investors in an unforgiving second quarter.
Read more: It’s ‘duck’ season for U.S. stock fund investors . 
 
Page 1 Page 2

DealBook | DealB%K Afternoon Edition: Will the Whale Swallow JPMorgan's 2nd-Quarter Earnings?



Friday, June 29, 2012
TOP STORY
Will the Whale Swallow JPMorgan's 2nd-Quarter Earnings?
Will the Whale Swallow JPMorgan's 2nd-Quarter Earnings? While Jamie Dimon has given many assurances that the bank will report solid second-quarter profits, the botched derivatives trade could weigh on the bottom line.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    After F.B.I. Arrest, Madoff's Brother Pleads Guilty Peter B. Madoff, who was arrested early Friday, pleaded guilty to criminal actions that enabled his brother, Bernard L. Madoff, to carry out the largest Ponzi scheme in history.
    As I.P.O. Shows Life, ServiceNow Jumps on First Day Shares in the software services provider popped 32 percent above their offer price when they began trading on the New York Stock Exchange on Friday.
    The Beer Wars Heat Up With Modelo Deal Friday's deal for Grupo Modelo has added Corona Extra to Anheuser-Busch InBev's stable of beer brands, as the global brewing giant continues to compete with its rival, SABMiller, in a rush to consolidate the industry.
    Brewer to Buy Remaining Stake in Grupo Modelo Anheuser-Busch InBev has agreed to buy the half of Grupo Modelo it does not already own for $20.1 billion, the latest deal in the fast-consolidating global brewing industry.
    Credit Suisse Expects Profit in Second Quarter The Swiss financial giant moved to calm investors' fears on Friday by announcing it expected to report a second-quarter profit.
    Coty Files to Go Public Coty filed to go public on Friday, revisiting a strategic plan it had formed before trying to buy Avon Products for $10.7 billion this year.
    Melrose Agrees to Buy German Utility Meter Manufacturer for $2.3 Billion The British investment company has agreed to buy Elster Group, a German utility meter manufacturer, for $2.3 billion.
     
    DealBook Video
    Business Day Live: The Health Care Ruling and Commerce
    Business Day Live: The Health Care Ruling and Commerce European leaders reach an agreement on bailouts. Also, winning the battle, but losing the war with the health care ruling; and, is the hype over cloud computing justified?

NYT Afternoon Business News: Markets Soar on European Breakthrough




BUSINESS

Markets Soar on European Breakthrough

By CHRISTINE HAUSER and DAVID JOLLY
Stocks on Wall Street surged after European leaders agreed to use bailout funds to recapitalize struggling banks directly. Euro zone shares closed ahead 5 percent.
DealBook

After F.B.I. Arrest, Madoff's Brother Pleads Guilty

By PETER LATTMAN and BEN PROTESS
Peter B. Madoff, who was arrested early Friday, pleaded guilty to criminal actions that enabled his brother, Bernard L. Madoff, to carry out the largest Ponzi scheme in history.
DealBook

Brewer to Buy Remaining Stake in Grupo Modelo

By MARK SCOTT
Anheuser-Busch InBev has agreed to buy the half of Grupo Modelo it does not already own for $20.1 billion, the latest deal in the fast-consolidating global brewing industry.
News Analysis

Will the Whale Swallow JPMorgan's 2nd-Quarter Earnings?

By PETER EAVIS
While Jamie Dimon has given many assurances that the bank will report solid second-quarter profits, the botched derivatives trade could weigh on the bottom line.

In Health Care Ruling, Investors See a Mixed Blessing

By ANDREW POLLACK and KATIE THOMAS
The shares of major insurers suffered a modest dip on Thursday, while pharmaceutical and device companies fell slightly, and hospital stocks rose.

CBS NEWS | Political Hotsheet Top Stories: Poll: Americans split on health care ruling.

The CBS News Political Hotsheet newsletter

CBS POLITICAL HOTSHEET TOP STORIES    



   
Even split on Supreme Court ruling, with Republican-affiliated respondents much more likely to disagree with the Court
Read full story
Poll: Americans split on health care ruling

White House: Holder won't be prosecuted The court could take up the civil contempt proceeding but case may not be settled for years

GOP doubles down on health care repeal promise Republicans expect more opposition to health care in the wake of the Supreme Court ruling and say they could actually pull off a repeal if that opposition translates into success in November

Health care Republicans chief talking point against the health care law in the wake of court ruling could also be used against their own nominee

Does court ruling vindicate Obama's leadership? The court ruled on the constitutionality of the health care law on Thursday, but not on whether the president showed strong leadership getting it passed

Stocks and Markets in the News | Wall Street at Close: U.S. stocks rally on European agreements, MarketWatch

U.S. Markets

Trading Strategies: Brighter Days With the U.S. economy struggling and the difficulties facing the euro zone, it's a challenge to find a way to make money in this uncertain environment. But in this month's edition of Trading Strategies, our experts shine a light on some investment ideas that are great all by themselves. video content 7:20 p.m. Today
 
Investing in China's Slowing Economy China isn't the global growth engine it once was. Jeff Shen, head of the Asia-Pacific and emerging-market equity group at BlackRock tells MarketWatch's Jonathan Burton what he sees as the biggest threat to China's economy and investor confidence. video content 6:06 p.m. Today
 

J.P. Morgan lone decliner in financials rally Financial stocks cap off a strong week Friday, riding high on news that European Union leaders have taken concrete steps to ease bailout restrictions. Only J.P. Morgan sees its shares slip. 5:38 p.m. Today

U.S. Markets Headlines

U.S. President Barack Obama makes a statement about the Supreme Court's decision on his Administration's health care law in the East Room of the White House in Washington, June 28, 2012. REUTERS/Luke Sharrett (UNITED STATES - Tags: POLITICS HEALTH HEADSHOT)  - Reuters
Insurer stocks continue to fall after ruling Amid a broad market rally, shares of commercial health insurers gain some ground, but then slip back in wake of Supreme Court ruling on the health-care overhaul law.
5:10 p.m. Today
 
RIM shares slip, Seagate active after hours Research In Motion shares slip late Friday, slightly extending their sharp dayside drop as the BlackBerry maker’s bleak quarterly report prompts several analyst downgrades.
5:09 p.m. Today
 
Traders work on the floor of the New York Stock Exchange, August 5, 2011. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) - Reuters
U.S. stocks rally on European agreements U.S. stock rally reduces second-quarter losses after European Union leaders agree to steps to bolster the economies of the region’s more troubled nations.
4:47 p.m. Today
 
2013 Ford Fusion: Sleek design will differentiate Fusion from other sedans in the midsize segment, with class-leading fuel economy in gasoline, hybrid and plug-in hybrid variations. (01/09/12)
 2013 Ford Fusion: Sleek design will differentiate Fusion from other sedans in the midsize segment, with class-leading fuel economy in gasoline (37 mpg on the highway with the 1.6-liter EcoBoost engine), hybrid (at least 47 mpg in the city) and an all-new plug-in hybrid (with more than 100 MPGe). (01/09/12) -
Ford warning rattles analysts Deepening losses overseas prompt a raft of second-quarter revisions but most leave long-term buy recommendations unchanged.
4:31 p.m. Today
 
Friday’s biggest gaining and declining stocks A June 29 story by MarketWatch misstated the details of the deal for Crown Imports LLC. The story has been corrected.
4:31 p.m. Today
 
View of Anheuser-Busch InBev logo outside the brewery headquarters in Leuven June 25, 2012. Anheuser-Busch InBev, the world's biggest brewer and maker of Budweiser and Stella Artois beers, is in talks to buy the 50 percent of Corona beer maker Grupo Modelo that it does not already own, said a person familiar with the matter - in a potential deal that could top $10 billion. REUTERS/Francois Lenoir (BELGIUM - Tags: FOOD BUSINESS) -
Friday’s biggest gaining and declining stocks Team Health, Smith & Wesson, KB Home, and Tahoe Resources are among Friday’s biggest gaining and declining stocks.
4:25 p.m. Today
 
A worker examines the valve of a pump on an Oil and Natural Gas Corp (ONGC) well on the western Indian city of Ahmedabad March 1, 2012. Investors bid for less than 1 percent of ONGC shares on offer in the first two hours of an auction by the government, which is looking to raise at least $2.5 billion through the sale. REUTERS/Amit Dave (INDIA - Tags: BUSINESS ENERGY COMMODITIES EMPLOYMENT) - Reuters
Oil futures rally more than 9% after EU bank plan Crude futures soar as energy traders are in a buying mood in reaction to European leaders’ latest plan to address the region’s distressed banking sector.
4:22 p.m. Today
 
A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. The management of HP announced 324 jobs cut at its Belgian office because of poor sales resulting from the global financial crisis according to local media. REUTERS/Thierry Roge (BELGIUM - Tags: EMPLOYMENT BUSINESS) - Reuters Techs join broad rally, but RIM falls The tech sector joins a broad market rally sparked by new optimism in Europe, but shares of RIM fall on disappointing results.
4:21 p.m. Today

Stocks and Markets in the News | Europe - MiddleEast: Europe stocks post summit-inspired rally, MarketWatch

Europe-MiddleEast

ECB, Bank of England seen easing next week After a European-driven rally, analysts expect the European and British central banks to chip in next week.



Europe stocks post summit-inspired rally European stock markets jump and bond yields drop sharply on Friday, after European leaders struck a deal on a growth package and agreed to allow the euro zone’s rescue funds to recapitalize ailing banks. 12:22 p.m. Today

Europe-MiddleEast Headlines

Traders work on the floor of the New York Stock Exchange in New York, June 7, 2012. U.S. stocks jumped at the open on Thursday after China's central bank cut bank lending and deposit rates, fueling hopes of simultaneous action to aid a flagging global economy. REUTERS/Keith Bedford (UNITED STATES - Tags: BUSINESS) - Reuters
Stock futures soar on EU summit results U.S. stock index rally Friday, joining a global rally after European leaders reach agreements that ease worries of European bank failures.
9:17 a.m. Today
 
Pressure eases on Spanish bonds after EU plan LONDON (MarketWatch) -- Yields on 10-year Spanish government bonds dropped 47 basis points to 6.40% on Friday after European leaders agreed on a growth and bank recapitalization plan at a closely watched European Union summit. Spain's borrowing costs had lately surged amid worries over the country's deficit levels and troubled banking sector, with the 10-year yield flirting with the dangerous 7% level as recently as Thursday. Pressure also eased on the Spanish stock market, where the IBEX 35 index rallied 4%, mainly due to sharp moves for the banks. BBVA SA surged 7.7%, Banco Santander SA jumped 5.8% and CaixaBank SA gained 5.9%.
3:35 a.m. Today
 
Europe stocks rally after EU bank, growth plan LONDON (MarketWatch) -- European stock markets moved sharply higher on Friday after the European leaders struck a deal on a 120 billion euro ($149 billion) growth package and agreed that the euro zone's bailout funds should be able to directly recapitalize the region's ailing banks. European banks rallied on the news with the Spanish and Italian banking sector rising sharply. UniCredit SA surged 6.9%, BBVA SA jumped 6.7% and Banco Santander SA rose 6.1%. Spain's IBEX 35 index gained 3.5% to 6,953.40. The pan-European Stoxx Europe 600 index added 1.8% to 249.07, while U.K.'s FTSE 100 index took on 1.5% to 5,577.98. Oil firms were also higher in the U.K., as oil prices jumped. BP PLC rose 2.2%. In France, the CAC 40 index moved 2.6% higher to 3,130.03 and in Germany the DAX 30 index gained 2.4% to 6,295.17.
3:21 a.m. Today
 
Flames come out of chimneys at Repsol's oil refinery in Cartagena, eastern Spain February 15, 2012. Oil hit a six-month high near $120 a barrel on Wednesday as concern about supply from Iran, other Middle East producers and Africa outweighed those about the health of the global economy. Prices jumped after Iran's Press TV reported Iran had banned exports to six EU countries in retaliation for European Union sanctions against the Islamic state, only to pare gains after Iran's Oil Ministry denied the report. REUTERS/Francisco Bonilla (SPAIN - Tags: BUSINESS ENERGY POLITICS)  - Reuters
Oil at 8-month low on summit fears Crude futures pull back to lowest since early October as traders weigh the dollar, prospective demand for oil, and a summit of European leaders.
3:34 p.m. June 28, 2012
 
An antique-watch shop adjacent to Plaza Mayor in Madrid. - MarketWatch/Tim Rostan
Europe stocks drop as summit hopes fade Banking shares push European stock markets lower Thursday amid a widening interest-rate-manipulation scandal, and as investors fret about the latest euro-debt crisis summit.
12:18 p.m. June 28, 2012
 
A logo of Barclays bank is seen outside a branch in Altrincham, northern England April 26, 2012. Barclays posted a 22 percent rise in first-quarter profit, ahead of market forecasts, as a strong rebound in revenue from its investment banking arm and a drop in bad debt countered increased compensation for insurance mis-selling. REUTERS/Phil Noble (BRITAIN - Tags: BUSINESS EMPLOYMENT) - Reuters
Barclays weigh on U.K. stocks after Libor scandal Barclays PLC tumbles Thursday and adds pressure on the benchmark U.K. stock index amid worries of further consequences after a Libor manipulation scandal, while investors fret that a much-anticipated European Union summit would fail to contain the region’s debt problems.
12:16 p.m. June 28, 2012
 
German DAX 30 tanks 1.8% after unemployment data LONDON (MarketWatch) -- German stocks underperformed the rest of Europe on Thursday, after fresh unemployment numbers failed to meet analysts expectations. The DAX 30 index sank 1.8% to 6,113.46, while the pan-European benchmark index Stoxx Europe 600 index just down 1% to 243. 44. Data from the Federal Labor Office showed that the seasonally-adjusted number of unemployed German workers rose by 7,000 in June, while the unemployment rate held steady at 6.8%. Economists surveyed by Dow Jones Newswires had forecast no change in the total number of jobless, while the unemployment rate was expected to fall to 6.7%. Banks added pressure on the German stock index, with Commerzbank AG 7.2% lower and Deutsche Bank AG off 3.8%.
6:15 a.m. June 28, 2012
 
Confindustria pegs 2012 Italy GDP at minus-2.4% MILAN--Italy's business lobby Confindustria Wednesday sharply lowered its outlook for the country's economy, saying gross domestic product will shrink 2.4% in 2012 and 0.3% in 2013. The original forecast published by the organization in December saw Italy's GDP down 1.6% in 2012, but up 0.6% in 2013.
5:40 a.m. June 28, 2012

Video

RIM Posts Big Loss, Delays BlackBerry 10
  • RIM Posts Big Loss, Delays BlackBerry 10 2:38
    Facebook COO Sheryl Sandberg Joins the Board 2:19
    Colombian Stock Exchange Fishes for New Investors 5:59
    After Wall Street: Where Did The Jobs Go? 4:46
  • Bonds Are Not Dead, Even As Yields Are Low 4:46
    Film Clip: 'Peace, Love, & Misunderstanding' 2:11
    Trading Strategies: The Summer Slowdown 0:47
    Trading Strategies for June: The Summer Slowdown 4:44
  • Poland: a Proxy for Eastern Europe 3:26
    Turkey: the Next Trillion Dollar Economy? 1:59