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Oct 8, 2012

The New York Times Global Update -October 8, 2012-: Romney Says White House Botched Response to Benghazi Attack

The New York Times International Herald Tribune
October 8, 2012

Global Update



TOP NEWS
The Caucus

Romney Says White House Botched Response to Benghazi Attack

By TRIP GABRIEL
As Mitt Romney gave his foreign policy speech, his campaign and President Obama's allies battled over primacy on foreign policy issues.

U.S. Panel Calls 2 Chinese Firms 'National Security Threat'

By MICHAEL S. SCHMIDT, KEITH BRADSHER and CHRISTINE HAUSER
The House Intelligence Committee said telecommunications equipment from Huawei Technologies and ZTE could be used for spying in the United States.

Syria Accuses Turkey of Imperialist Delusions as Border Shelling Resumes

By RICK GLADSTONE
Both insurgent sympathizers and the Syrian government described an extremely violent day in the nearly 19-month-old uprising in the country, with unverified accounts of killings and destruction.
Business

Interactive Feature: For Software, Cracks in the Patent System

When the nation's patent system was born, many inventions were mechanical. Some say the patent system is ill suited for today's digital world, where innovations like software are often based on abstract concepts.
Opinion

Op-Ed Columnist

How to Die

By BILL KELLER
A death in the family brings some lessons about how we can best approach our final days.
WORLD

Chávez Wins New Term in Venezuela, Holding Off Surge by Opposition

By WILLIAM NEUMAN
President Hugo Chávez won re-election on Sunday, facing down the strongest electoral challenge of his nearly 14 years in office and gaining a new mandate to deepen his socialist revolution.

Israel Launches Airstrikes After Attacks From Gaza

By ISABEL KERSHNER and FARES AKRAM
Israeli warplanes responded to rocket fire from Gaza on Monday by launching airstrikes, in a flare-up that began Sunday when Israel fired missiles against two suspected members of jihadist groups.
BUSINESS

A Guided Path Through Customs Blocked

By SUSAN STELLIN
Some applications for Global Entry and other trusted traveler programs have been rejected for a minor brush with law enforcement or customs inspectors.
The iEconomy

The Patent, Used as a Sword

By CHARLES DUHIGG and STEVE LOHR
Alongside the impressive technology advances of the last two decades, many see a destructive use of software patents corrupting the marketplace for ideas.
DealBook

UnitedHealth to Buy Control of Brazilian Company for $4.9 Billion

By MARK SCOTT
With the deal for the health care provider Amil Participações, UnitedHealth is aiming to capitalize on the favorable demographics of Brazil, which is enjoying a strong economy and a growing middle class.
TECHNOLOGY

Campaigns Use Social Media to Lure Younger Voters

By JENNA WORTHAM
If the presidential campaigns of 2008 were dipping a toe into social media like Facebook and Twitter, their 2012 versions are well into the deep end.

Romney and G.O.P. Make Inroads in Silicon Valley

By SOMINI SENGUPTA
While President Obama is widely seen as a friend of the tech industry, and has gotten far more donations, the excitement of his 2008 campaign has ebbed among investors and executives.

YouTube to Serve Niche Tastes by Adding Channels

By CLAIRE CAIN MILLER
YouTube, now carrying more polished output, will announce more original channels to the 100 it has introduced in the last year.
SPORTS

Messi and Ronaldo: 2 Stars in Their Own Universe

By ROB HUGHES
The score of the latest Real Madrid-Barcelona game was 2-2, but you could also say the final tally was Cristiano Ronaldo 2, Lionel Messi 2.

Report to Reveal Key Details in Armstrong Drug Case

By JULIET MACUR
The United States Anti-Doping Agency is preparing to unveil a new report that includes witness testimony from top cyclists claiming that Lance Armstrong used performance-enhancing drugs.

Vonn Seeks 'One Chance' to Race Against Men

By KELLEY McMILLAN
The champion skier Lindsey Vonn has asked the sport's world governing body for the chance to compete against the best male ski racers in the world.
U.S. NEWS

Marijuana Only for the Sick? A Farce, Some Angelenos Say

By NORIMITSU ONISHI
While the federal government cracks down on dispensaries of medical marijuana, Los Angeles repealed a recent ban on them.

Detroit Police Chief Resigns Amid Sex Scandal

By STEVEN YACCINO
Officials said Ralph L. Godbee Jr. had decided to step down after news emerged last week that he was having an affair with an internal affairs officer in the department.

Study Shows Children With Autism Tend to Stray

By RONI CARYN RABIN
Those at greatest risk of wandering off were autistic children with severe intellectual deficits and those who do not respond to their names.
OPINION
Latitude

Remembering Politkovskaya

By MASHA GESSEN
On the day Vladimir Putin celebrated his birthday, it was his slain critic many of us were thinking of.
Op-Ed Columnist

Truth About Jobs

By PAUL KRUGMAN
The data show an improving economy, and that's what the right wing can't handle.

DealBook Afternoon Edition -October 8, 2012.: White Collar Watch: How Pennies Add Up in a Securities Fraud Case



Monday, October 8, 2012
TOP STORY
White Collar Watch: How Pennies Add Up in a Securities Fraud Case Peter J. Henning says that the Justice Department last week charged two former brokers with secretly adding a few pennies to the cost of securities trades processed by the firm to generate $18.7 million in gains, but proving the case will not be an easy task.
  • DEALBOOK »
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    DEALBOOK HIGHLIGHTS
    SolarCity Seeks Up to $201 Million in I.P.O. SolarCity, a provider of solar power to retail customers, formally disclosed its initial public offering prospectus on Monday. The company said that it plans to raise up to $201.3 million, though it gave no price range.
    BP to Sell Texas City Refinery to Marathon Petroleum BP said that it will sell its Texas City refinery and other assets to Marathon Petroleum for $2.5 billion, as the British oil company nearly finishes up an aggressive plan to pare back assets.
    UnitedHealth to Buy Control of Brazilian Company for $4.9 Billion With the deal for the health care provider Amil Participações, UnitedHealth is aiming to capitalize on the favorable demographics of Brazil, which is enjoying a strong economy and a growing middle class.
    Buzz Tracker
    A Buyer's Market in M.&.A. Jonathan Rowley of UBS notes in an opinion article in The Financial Times that businesses are still being auctioned. But, he writes, "the timetable and due diligence process - both of which were carefully controlled by the seller in an auction environment, have become more determined by the buyer. This has meant deeper scrutiny and due diligence towards selling companies than I can remember in a long time."
    LOOKING AHEAD
    Overseas On Tuesday, Treasury Secretary Timothy F. Geithner will embark on two days of bilateral meetings in New Delhi and Mumbai; the International Monetary Fund and the World Bank will begin six days of meetings in Tokyo; and the International Monetary Fund will release its global financial stability report.
    In the United States On Tuesday, a jury trial is scheduled to begin in the Securities and Exchange Commission's lawsuit against the Reserve Primary Fund, its chairman and his son.
    Corporate Earnings Companies scheduled to report quarterly earnings on Tuesday include Alcoa and Chevron.


The New York Times Politics -October 8, 2012-: Romney Strives to Stand Apart in Global Policy

The New York Times

October 8, 2012

Politics



Romney Strives to Stand Apart in Global Policy

Mitt Romney has yet to explain how he would conduct policy toward the Middle East, or to resolve deep ideological rifts within the Republican Party.
Republican Senator Olympia Snowe of Maine announced that she would not seek re-election in February 2012.

In Congress, a Shrinking Pool of Moderates

A combination of redistricting, retirements and campaign spending by special interests is pushing out moderate Democrats and Republicans.

More Politics

Republican presidential candidate Mitt Romney delivered a foreign policy speech at Virginia Military Institute in Lexington, Va., on Monday.
The Caucus

Romney Says White House Botched Response to Benghazi Attack

As Mitt Romney gave his foreign policy speech, his campaign and President Obama's allies battled over primacy on foreign policy issues.
Vice President Joseph R. Biden Jr. greeting a crowd late last month in Boca Raton, Fla.

With Biden Up Next to Debate, Obama's Aides Plot Comeback

Central to the effort by President Obama's team to recover momentum is a renewed effort to win the three remaining debates, starting with Thursday's vice-presidential face-off.
He's no President Obama. He's no Mitt Romney. But this bird was big enough to serve as a stand-in on

Spinning Gaffes Into Gags: Live From New York, It's Debate Night

NBC, usually protective about the process of putting together Saturday Night Live, allowed access to the show's writers, stars and rehearsals this week as they prepared their debate sketch.
Mitt and Ann Romney stopped by the Tin Fish restaurant in Port St. Lucie, Fla., after a rally on Sunday. He was on a three-day swing through the state.

Romney Works to Build Momentum in Florida, a State Critical to Victory

The Republican nominee rallied crowds and his volunteers blanketed the state to register new voters, while President Obama raised money in California.
Each campaign is using social media as another means to reach voters, particularly younger ones, who may not watch television or read the paper but spend plenty of time on the social Web.

Campaigns Use Social Media to Lure Younger Voters

If the presidential campaigns of 2008 were dipping a toe into social media like Facebook and Twitter, their 2012 versions are well into the deep end.

Romney and G.O.P. Make Inroads in Silicon Valley

While President Obama is widely seen as a friend of the tech industry, and has gotten far more donations, the excitement of his 2008 campaign has ebbed among investors and executives.
Kathy George, a volunteer for John Koster, the Republican candidate for the House in Washington's First Congressional District, waited for a parade to start in Granite Falls on Saturday.

It's Big. It's Confusing. And It's Anybody's Race.

Washington State's newly drawn First Congressional district is considered fair if unpredictable in the upcoming election.

The Caucus

For Both Campaigns, Time to Fine-Tune Their Messages

The debate, events in the Middle East and the better-than-expected jobs numbers on Friday are forcing the two campaigns to adjust to a new reality in the final month before Election Day.

On Fund-Raising Tour, Obama Admits Poor Debate Showing

The president acknowledged before a star-studded fund-raiser on Sunday night that he may have flubbed the face-to-face standoff with Mitt Romney last week.

Axelrod Says Obama Will Review Tape of Debate

President Obama's adviser said the candidate would "look at that tape" of his debate performance and "make the adjustments that he thinks are necessary."

Romney Ad Says Obama Distorts Tax Cut Plan

The Romney campaign returned to one of the most contentious issues of the presidential debate to accuse President Obama of falsely claiming Mitt Romney would cut $5 trillion in taxes.
Stewart and O'Reilly Share Stage in Political Joust

Stewart and O'Reilly Share Stage in Political Joust

Sharing a stage to entertain and - dare they say it? - even educate, Jon Stewart and Bill O'Reilly squared off on some of the most serious policy issues facing the nation.
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Election 2012 iPhone App

A one-stop destination for the latest political news, from The Times and other top sources around the Web. Plus opinion, polls, campaign data and video.
FiveThirtyEight
Oct. 7: National Polls Show Signs of Settling
The polls released on Sunday did not tell quite as optimistic a story for Mitt Romney as those released in the debate's immediate aftermath.
Wives Take the Campaign to Newsstands
Coverage of Michelle Obama and Ann Romney - and sometimes their husbands - in women's and celebrity magazines is eagerly sought and closely watched.

Multimedia

Interactive Feature: The Presidential Campaign on Social Media
It's not enough for the presidential candidates Barack Obama and Mitt Romney to kiss babies, shake hands and lunch at small-town diners to win over voters. In 2012, they also need to cozy up to citizens online.
Interactive Feature: The First Presidential Debate
Follow along with this interactive replay of the debate, using fact checks and graphics take a closer look at the candidates' assertions and attacks.
Photographs: The 2012 Presidential Campaign, Week by Week
Every week during the 2012 presidential campaign, The Times will be posting a new slide show recapping the events of the past seven days.
Graphic: State of the Race for the Senate
Updated analysis by The New York Times and details on the six races considered tossups.
Interactive Map: House Race Ratings
A New York Times analysis of the most competitive House races in the 2012 election. Ratings are based on a variety of factors, including polling, previous election results and the political landscape in each state.

Money Show Investors Daily Alert -October 8, 2012-: 3 'Uplifting' Metals Stocks

Investors Daily Alert


The Daily Guru

Jim Jubak on MoneyShow.com

Today's Top Pros' Top Picks
2 Stocks with Rising Margins, Richard Moroney

Today's Gurus' Views & Strategies
The System Is Falling Apart, G. Edward Griffin

Today's Charts in Play

SavageMoney Blog

Ideas from Around the World

Today's Featured Videos & Exclusive Interviews
Making Money with MLPs, Elliott Gue

Wall Street at Close Report | MarketWatch -October 8, 2012-: Stocks fall with third-quarter expectations

By Kate Gibson, MarketWatch 

NEW YORK (MarketWatch)U.S. stocks on Monday retreated from near five-year highs as investors braced for what’s expected to be a weak earnings season.
 
“We’ve probably managed to set the bar low enough that we can get over the top of it,” Bill Stone, chief investment strategist at PNC Asset Management Group, said of lowered estimates for coming results, which could have American corporations breaking an 11-quarter streak of year-over-year gains in earnings. 

Halting a three-session win streak, the Dow Jones Industrial Average DJIA -0.19%  fell 26.50 points, or 0.2%, to 13,583.65. 


Are Alcoa’s results a barometer? Historically, Alcoa has acted as a barometer for how the rest of the market has performed during past earnings seasons. 

Dow component and aluminum producer Alcoa Inc. AA +0.33%  is slated to release quarterly results after the close of regular U.S. trading Tuesday. See: Brace for worst earnings since recession rebound.
Personal-computer maker Hewlett-Packard Co. HPQ -1.83%   has already warned its 2012 profit will come in below analysts’ estimates, and shipper FedEx Corp. FDX -0.12%  has trimmed its yearly earnings outlook as well. 

But Mark Luschini, chief investment strategist at Janney Montgomery Scott, also played down any notion that third-quarter results would include any shocks major enough to send Wall Street into a tailspin.
A correction of 3% to 5% is due in any event in light of Wall Street’s climb that has pushed the S&P 500 Index SPX -0.35%  nearly higher 16% this year, Luschini noted. 

“Expectations have been sufficiently lowered, so it probably leads to a low hurdle for companies to exceed dumbed-down expectations,” he said. 

Falling for a second session, the S&P 500 index SPX -0.35%   declined 5.05 points, or 0.4%, to 1,455.88, with technology and telecommunications hit the hardest among its 10 sectors.
Also extending its slide into a second session, the Nasdaq Composite COMP -0.76% lost 24.58 points, or 0.8%, to 3,111.61. 

Apple Inc. AAPL -0.20%  shares fell 2.2% after a China Labor Watch report that a Foxconn factory in China had been crippled by a strike. The Taiwanese company and Apple contractor denied the report by the labor-watchdog group. See: Apple shares lose their iPhone 5 bounce 
 
Facebook Inc. FB -2.44%   slipped 2.4% after BTIG LLC downgraded the social network.
Netflix Inc. NFLX +10.46%   gained more than 10% after Morgan Stanley upgraded the video-subscription service.
For every two stocks rising three fell on the New York Stock Exchange, where a measly 464 million shares traded in light Columbus Day volume. Composite volume just topped 2.3 billion.
With relatively sparse personnel in today, that’s another reason to follow on the heels of Europe,” Stone said of the federal holiday that had the both the government and bond market closed.
In Luxembourg, euro-area ministers gathered as investors looked for any signals that Spain would ask for rescue funds. Read related story on the stance taken by Germany’s finance minister toward a Spanish bailout. 
 
Asia’s slowing economic growth and Europe’s unresolved fiscal issues reinforced market thoughts of reduced demand for oil, with the November crude futures CLX2 -0.21%  finishing below $90 a barrel on the New York Mercantile Exchange. See: Oil falls on thoughts of less global demand.
The World Bank on Monday reduced its forecast for the East Asia and Pacific region, while cautioning the slowdown in China could get worse. See: Europe crisis poses major Asia threat. 
 
Kate Gibson is a reporter for MarketWatch, based in New York.