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Nov 6, 2012

NYT Global Update -November 6, 2012-: U.S. Presidential Campaigns' Last Task: Get Out the Vote

The New York Times International Herald Tribune
November 6, 2012T

Global Update


U.S. Presidential Campaigns' Last Task: Get Out the Vote

Voters in the United States on Tuesday collectively began writing the ending to a long presidential race that centered on the role of government and who would heal the battered economy.
Changing of the Guard

In China, Spending on Industrial Projects Stirs Growing Resistance

After recent protests, the Chinese government has backtracked on some new plants and appeared to be slowly shifting its focus toward a greater reliance on consumption.

Scene of South African Mine Shooting May Have Been Altered, Inquiry Is Told

Evidence presented to a panel investigating the police shooting of striking platinum miners in Marikana in August strongly suggests that weapons were placed next to the bodies of dead miners, lawyers representing victims' families said.

Interactive Feature: Instagramming the Election

A selection of readers' photos of Election Day scenes, portraits and objects, submitted via Instagram. Tag your own on Instagram with #NYTelection.

Campaign Stops

The View From Nairobi

For many Kenyans, the 2012 presidential campaign has been a curious experience, to say the least.

Greece to Vote on $23 Billion in New Cuts

The new austerity measures, which include further cuts to pensions, civil service salaries and social benefits, are required to unlock $40 billion in rescue financing.

Putin Fires Defense Minister Linked to Real Estate Investigation

The firing of Anatoly E. Serdyukov, a longtime Putin ally, is one of the highest-level dismissals connected to a corruption case in recent memory in Russia.

China's Security Ministry Suspected Slain Businessman Was a Spy

The murder of the British businessman, Neil Heywood, is still seen as stemming from a financial dispute, but the intelligence links add an enticing subplot to his death.

Suzuki, Maker of Small Cars, Failed to Make It Big in the U.S.

Suzuki is strong in emerging markets, but has long had weak sales in the United States, where it will now stop selling its automobiles.

Rochdale in Rescue Talks After Errant Apple Trade

Rochdale Securities, which is known for employing the banking analyst Dick Bove, is in negotiations to sell itself or receive a cash infusion from outside investors, according to a person with direct knowledge of the talks.

Advocates Hope Geothermal Energy Gets Second Look After Storm

Digging geothermal wells can be expensive and difficult, and the systems have been slow to catch on in New York City, but the benefits may eventually outweigh the costs.

Hacking of Tax Records Has Put States on Guard

The theft of tax information from a South Carolina computer system appears to have been the largest cyberattack ever on a state government.

Apple Patent Suit Is Dismissed

A federal judge on Madison, Wis., threw out Apple's suit that licensing practices by Google's Motorola unit were unfair, saying she was unsure she had the authority to hear the claim.

Two Players With a Flair for Scoring

Neymar, a Brazilian who plays in his home country's league, and Luis Suárez, a Uruguayan who plays for Liverpool, deserve the respect they have earned.

At Breeders' Cup, Soul-Stirring Results

Two days of horse races, including Royal Delta's victory in the Ladies' Classic, added weight to the argument that the caliber of the Breeders' Cup is on par with the Kentucky Derby or the Belmont Stakes.

Former Stars Bring Back Fall Tennis To New York

The PowerShare Series is using retired stars like Andre Agassi and Pete Sampras to bring new tennis events to several United States cities, including some abandoned by top-level events.

Georgia's Voters Will Decide on Future of Charter Schools

A ballot measure in Georgia asks voters to decide on a statewide commission that could authorize new charter schools.

Pretrial Hearing Starts for Soldier Accused of Murdering 16 Afghan Civilians

Staff Sgt. Robert Bales, 39, an 11-year-military veteran, could face the death penalty if found guilty of the most serious charges.

Michigan Judge Temporarily Blocks Health Law Mandate on Birth Control

The judge said a business owner need not, at least for now, offer insurance coverage for contraceptives to employees because it infringes on his religious beliefs.
Campaign Stops

The View From Nairobi

For many Kenyans, the 2012 presidential campaign has been a curious experience, to say the least.
Op-Ed Columnist

The Spirit of America

At the close of this presidential campaign it is worth recalling that America is an idea, and one that dies when hope and possibility disappear.
Op-Ed Columnist

The Heart Grows Smarter

A study that has followed a set of men from 1938 to the present time confirms that emotional intelligence is critical to leading a contented life.

NYT Politics -November 6, 2012-: Live Coverage of Election Day

The New York Times

November 6, 2012


Live Coverage of Election Day

Americans went to the polls on Tuesday and Times reporters around the country will be providing live updates, analysis and results throughout the day.
Voters cast ballots at Reedurban United Presbyterian Church in Massillon, Ohio.

Two Sides' Last Task: Get Out the Vote

Voters on Tuesday collectively began writing the ending to a long presidential race that centered on the role of government and who would heal the battered economy.

More Politics

In Long Beach, N.Y., Ted Hommel voted at Lindell Elementary School.

Long Lines Form at Polling Places as Displaced Residents Find Ways to Vote

In New York and New Jersey, the combination of storm recovery and heavy morning turnout yielded long lines, confusion, frustration and anger.
IOWA Ray Benter, an Obama volunteer, canvassed on Monday in Des Moines. For six days he has opened up his home for volunteers to use as a headquarters for the get-out-the-vote efforts.
Political Memo

Clues Could Come Early in State-by-State Battle

A guide to know who is up, who is down and if court challenges and recounts could be in the works.
Volunteers set up voting machines at Legend Elementary School in Newark, Ohio.

In Case of a Recount, a Long Wait for Ohio

Ohio is set apart from other states with its large number of provisional ballots and rules about when they may be counted.
The Rev. Al Sharpton Jr. on MSNBC, which a recent Pew Research study found gave Mitt Romney very little positive coverage.
News Analysis

Dueling Bitterness on Cable News

The partisan anger on MSNBC and Fox News this election season has never been as stark - and in some ways, as silly or small.
Alexis Greco at the campaign headquarters for Representative Mazie K. Hirono in Honolulu.

Politics 101, Without the Classroom

Occidental College students who are allowed to spend a semester working on a political campaign get hands-on experience that no classroom can match.

The Caucus

Election Day Coverage at a Glance

The New York Times will provide live, comprehensive coverage of Election Day on the Web and mobile devices and in print.

In New Hampshire, Romney's Last Pre-Election Rally

At his final rally before Election Day, Mitt Romney took the stage after 11 p.m. after a brief performance by Kid Rock. The crowd shouted "U-S-A" and waved "Romney-Ryan" and "Women for Mitt" signs. The Republican candidate took it all in.

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.
Nov. 5: Late Poll Gains for Obama Leave Romney With Longer Odds
President Obama appears to have gained ground in the closing days of the race: among 12 national polls published on Monday, he led Mitt Romney by an average of 1.6 percentage points.


Interactive Feature: The Words of a Nation
Choose a word to fit your election day mood.
Interactive Feature: Instagramming the Election
A selection of readers' photos of Election Day scenes, portraits and objects, submitted via Instagram. Tag your own on Instagram with #NYTelection.
Graphic: In Their Words: Imagining the Next Inaugural Address
Why wait two months to hear how Democrats and Republicans should come together? Using previous speeches from each candidate, two inaugural addresses were assembled.
Interactive Graphic: Swing State Tracker
Watching nine swing states, minute by minute, with polls from FiveThirtyEight, daily calendar and reports from the ground.

NYT Opinion Today -November 6, 2012-: The Man or the Platform?

Opinion Today

The Man or the Platform?
Campaign Stops

The Man or the Platform?

The president, whoever he is, will frequently disregard party principles. That's a good thing.
Opinionator | Draft

The Political Speechwriter's Life

We don't get to use our names, but we do get to fight for our beliefs.
Op-Ed Contributor

The Real Loser: Truth

Romney has wagered that facts can be ignored with impunity.
A poster of Barack Obama hangs in Kogelo village, Kenya, where President Obama's father was born.
Campaign Stops

The View From Nairobi

For many Kenyans, the 2012 presidential campaign has been a curious experience, to say the least.
Op-Ed Contributor

How Obama Lost the Europe Primary

The Continent was full of hope at the president's election. And then...nothing happened.
A Woman With Flare
Opinionator | Disunion

A Woman With Flare

How a penniless Philadelphia widow revolutionized naval signalling technology.
Op-Ed Contributor

My Old Kentucky Conservatism

The meaning of the term, as I understand it - keeping and preserving the land - runs counter to the model presented by the Republican establishment.
The Pope and the President

The Pope and the President

Approval from the new head of the Coptic Church could be the best boost to Mohamed Morsi's democratic credentials.

Election Day Choices

Here is a reminder of The Times's picks in the presidential race and other important contests in New York and Connecticut.

The Battle for the Senate

Republican hopes for control of the United States Senate have been curtailed by rigid or unappealing candidates.

End the Death Penalty in California

A ballot initiative, Proposition 34, provides the chance to shut down the state's costly and broken system of capital punishment.

A Texas Injustice

The killings of two Guatemalans by a state sharpshooter raises many questions about policies on shooting at vehicles and the handling of human- and drug-trafficking cases.

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
Taking Note

A Shooting in Broad Daylight, Rationalized

In an online forum for right-wing discussion, the commentariat is divided over how best to respond to a fatal border shooting in La Joya.
Prediction Time: Obama Survives

Prediction Time: Obama Survives

In which I predict that the president wins the narrowest of narrow re-elections.
Macro Manners
The Conscience of a Liberal

Macro Manners

How rude should we be?
How Natural Gas Kept Some Spots Bright and Warm as Sandy Blasted New York City
Dot Earth Blog

How Natural Gas Kept Some Spots Bright and Warm as Sandy Blasted New York City

New York City's other grid, natural gas lines, allowed some places to stay warm and bright despite Sandy.

Money Show Investors Daily Alert -November 6, 2012-: New Fuel More Fantasy Than Reality,

Investors Daily Alert


The Daily Guru

Jim Jubak on

Today's Top Pros' Top Picks

Today's Gurus' Views & Strategies

Today's Charts in Play Exclusive Interviews
Elephants on the March, Steve Forbes

Ideas from Around the World

Today's Featured Videos & Exclusive Interviews
Who Ate My Cheese?, Fausto Pugliese

Wall Street at Close Report | MarketWatch -November 6, 2012: U.S. stocks end sharply higher on Election Day er 6, 2012-:

By Polya Lesova

NEW YORK (MarketWatch) -- U.S. stocks rallied on Election Day, as Wall Street embraced the notion Tuesday that the uncertainty that came with the presidential campaign soon would be over. The Dow Jones Industrial Average DJIA +1.02% rose 133.24 points, or 1%, to 13,245.68, with Hewlett-Packard Co. 

HPQ +2.78% and United Technologies Corp. UTX +2.66% leading gainers in the blue-chip index. The S&P 500 index SPX +0.79% climbed 11.13 points, or 0.8%, to end at 1,428.39, with energy the best-performing sector among its 10 major industries. The Nasdaq Composite COMP +0.41% gained 12.27 points, or 0.4%, to 3,011.93.

ADVFN III Evening Euro Markets Bulletin -November 6, 2012-.

ADVFN III Evening Euro Markets Bulletin  
Daily world financial news

Tuesday, 06 November 2012

London Market Report
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London close: Markets in bullish mood ahead of US election results
    Market Movers
    techMARK 2,111.86 +0.77%
    FTSE 100 5,884.90 +0.79%
    FTSE 250 12,081.55 +0.42%
- Markets gear up for climax of presidential race
- Economic data disappoints
- Corporate earnings impress, Resolution leads risers after upgrade

The UK stock market shrugged off some disappointing economic data to finish Tuesday's session with decent gains as a barrage of updates and results from some heavy hitters impressed.

However, the mood was cautious with all eyes turning to the eagerly-awaited presidential election which comes to an end today. Polls show a tight race between current Democratic President Barack Obama and Republican candidate Mitt Romney. Whoever wins will have to urgently address the 'fiscal cliff' as spending cuts and tax increases are scheduled to come into effect in the next few months.

Jason Hollands, the Managing Director at Bestinvest, said that the conclusion of the election could herald the first step towards "renewed business confidence". He said: "A resolution of the 'fiscal cliff' would create the potential for a relief rally in US equities. We think a deal will ultimately happen: probably by reinstating Bush-era tax cuts. Much US business activity has simply been put on hold for months, from hiring through to M&A activity.

"With high levels of cash on their balance sheets, US companies look well positioned to either engage in corporate activity once some of the political and economic uncertainty is removed. If they can't find better uses for their cash, then expect a continued improvement in dividend pay-outs, which makes the US a potentially more interesting place for income seekers." 
UK and European data paints a gloomy picture
UK industrial production registered a contraction of 1.7% month-on-month in September (-2.6% year-on-year), missing consensus estimates for a fall of just 0.6%m/m (-1.6% y/y). Meanwhile, UK retail sales rose by 1.5% m/m in October, but fell by 0.1% y/y, in value and like-for-like terms, according to the latest data from the British Retail Consortium (BRC).

Meanwhile, the Eurozone service-sector PMI fell from 46.2 to 46.0 in October, below expectations of a flat reading. Meanwhile, the composite PMI, which measures services and manufacturing combined, fell from 45.8 to 45.7.

Market analyst Michael Hewson from CMC Markets said: "Given that most of today's European
economic data has been nothing short of woeful you could be forgiven for thinking that markets would be trading lower today.

"Fortunately investors appear to be focusing on the better-than-expected performances of companies that have been reporting their latest numbers today with the stand-out performer being BMW latest numbers as the company posted a record Q3 profit, boosted by sales in China and Japan. Better-than-expected numbers from high street retailers Marks & Spencer and Primark have also helped."

FTSE 100 - Risers
Resolution Ltd. (RSL) 236.60p +6.96%
Evraz (EVR) 255.80p +5.57%
Lloyds Banking Group (LLOY) 44.91p +4.80%
G4S (GFS) 270.00p +3.53%
Legal & General Group (LGEN) 144.20p +2.78%
Marks & Spencer Group (MKS) 398.70p +2.78%
International Consolidated Airlines Group SA (CDI) (IAG) 175.00p +2.52%
Barclays (BARC) 242.55p +2.13%
ARM Holdings (ARM) 709.50p +2.09%
Croda International (CRDA) 2,220.00p +2.07%

FTSE 100 - Fallers
Babcock International Group (BAB) 954.50p -3.49%
Eurasian Natural Resources Corp. (ENRC) 316.90p -1.37%
Admiral Group (ADM) 1,053.00p -1.31%
Standard Chartered (STAN) 1,468.50p -0.98%
Tullow Oil (TLW) 1,429.00p -0.69%
Weir Group (WEIR) 1,824.00p -0.38%
Wood Group (John) (WG.) 859.00p -0.29%
Petrofac Ltd. (PFC) 1,566.00p -0.25%
Tate & Lyle (TATE) 736.50p -0.20%
British Sky Broadcasting Group (BSY) 750.00p -0.20%

FTSE 250 - Risers
Savills (SVS) 425.50p +4.14%
Man Group (EMG) 87.20p +3.93%
JD Sports Fashion (JD.) 774.50p +3.82%
Homeserve (HSV) 235.30p +3.57%
Michael Page International (MPI) 374.50p +3.42%
Yule Catto & Co (YULC) 153.30p +3.30%
Hikma Pharmaceuticals (HIK) 758.00p +2.99%
F&C Asset Management (FCAM) 102.80p +2.80%
PayPoint (PAY) 847.50p +2.79%
New World Resources A Shares (NWR) 264.50p +2.64%

FTSE 250 - Fallers
Smith (DS) (SMDS) 206.60p -3.82%
Stobart Group Ltd. (STOB) 110.40p -2.82%
London & Stamford Property (LSP) 114.00p -2.56%
Interserve (IRV) 383.10p -2.47%
Spirent Communications (SPT) 140.70p -2.22%
Bank of Georgia Holdings (BGEO) 1,142.00p -2.14%
Premier Oil (PMO) 352.60p -2.08%
Kentz Corporation Ltd. (KENZ) 405.60p -1.84%
RPS Group (RPS) 238.20p -1.77%
Carpetright (CPR) 677.00p -1.74%

Europe Market Report
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Europe midday: Markets rebound as investors await US election results
FTSE-100: +0.62%
Dax-30: +0.56%
Cac-40: 0.48%
FTSE Mibtel 30: +0.55%
Ibex 35: +0.14%
Stoxx 600: +0.52%

European equities manage to rebound after yesterday's 1% drop as markets take a "wait and see" approach to the day's session.

Headlines are filled with the US elections that get in full-swing tonight and bets are equal on which candidate will walk away with the presidency. The latest poll posted in The Wall Street Journal shows Barack Obama with a slight lead over Republican rival Mitt Romney of 48.8% to 48.1%.

It's clearly anyone's race and European markets "should" awake tomorrow with the results in hand. However, The New York Times' warning is well worth noting: "should there be delayed counts, recounts and court challenges, Election Day becomes Election Week or — gasp! — Month."

Speaking of waiting, events in Athens are at a standstill as Greeks have begun a two-day strike to protest reforms. The Hellenic Parliament is expected to vote on the austerity package tomorrow and then the 2013 budget on Sunday. Yesterday afternoon reports indicated that nothing would go through in time for the meeting of Eurozone finance ministers on Monday.

Meanwhile, Spain, the other major player in the current chapter of the European debt crisis, has also decided not to give any new information for the markets to digest. At the same time that reports indicate that the European Commission will be officially announcing tomorrow much direr forecasts for the peripheral country, Prime Minister Mariano Rajoy seems content to stand pat. In an interview this morning, he simply repeated that deficit reduction was Spain's first priority and his government has yet to make a decision about requesting a bailout.
Eurozone services sector continues to contract

The latest data on the Eurozone's service sector released on Tuesday morning shows that the European economic slowdown continues its course.

The Eurozone's Purchasing Managers' Index (PMI) for the services sector, compiled by Markit Economics fell to 46.0 points in October from 46.2 points, remaining below the 50-point threshold that indicates recession.

It's also worth mentioning that region's heavyweights Germany and France showed deterioration while peripheral countries such as Spain and Italy managed a slight improvement.
Other markets

The euro/dollar managed a slight rebound (+0.08% to the 1.2808) after recent losses.

Front month Brent crude futures currently trade up by 0,80% to $108.59.

US Market Report

Stocks have moved to the upside in early trading on Tuesday, adding to the gains posted in the previous session. The major averages have all climbed into positive territory, further offsetting last Friday's substantial losses.
The major averages have recently pulled back off their highs for the young session but are currently holding on to gains. The Dow is up 60.27 points or 0.5 percent at 13,172.71, the Nasdaq is up 2.93 points or 0.1 percent at 3,002.59 and the S&P 500 is up 4.76 points or 0.3 percent at 1,422.02.
The early strength on Wall Street comes despite continued uncertainty about the outcome of today's elections, although trading activity is likely to be relatively subdued as voting gets underway.
The outcome of the presidential race between President Barack Obama and Republican Mitt Romney as well as key congressional races will not be known until much later tonight at the earliest.
A lack of major U.S. economic data may also keep traders on the sidelines, although some investors will be willing to make bets on particular sectors based on their expectations for the outcome of the elections.
A win for Obama is expected to be good news for the alternative energy, telecom, and housing sectors, while a win for Romney could benefit the defense, resource, and financial sectors.
Steel stocks are seeing notable strength in early trading, with the NYSE Arca Steel Index up by 1.2 percent. AK Steel(AKS) and U.S. Steel (X) are turning in two of the sector's best performances.
Natural gastobacco, and banking stocks are also seeing early strength, although most of the major sectors are showing only modest moves.
Among individual stocks, Intel (INTC) is moderately lower on the heels of a report from Bloomberg News indicating that Apple (AAPL) is preparing to replace Intel processors in its Mac personal computers with a version of its own chip technology used in the iPhone and iPad.
Shares of CVS Caremark (CVS) have also moved to the downside even though the drugstore operator and pharmacy benefits manager reported better than expected third quarter results. The company also raised its full-year earnings guidance.
On the other hand, Office Depot (ODP) is posting a strong gain after the office supplies retailer reported adjusted earnings that exceeded analyst estimates but on weaker than expected revenues.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance on Tuesday. While Australia's All Ordinaries Index inched up by 0.2 percent, Japan's Nikkei 225 Index dipped by 0.4 percent and Hong Kong's Hang Seng Index edged down by 0.3 percent.
Meanwhile, the major European markets have all moved to the upside on the day. The French CAC 40 Index has risen by 0.4 percent, while the U.K.'s FTSE 100 Index and the German DAX Index are both up by 0.6 percent.
In the bond market, treasuries have given back some ground after moving notably higher over the course of the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, has edged up by 1.4 basis points to 1.698 percent.

FTSE 100: Resolution gets boost from Merrill Lynch
Resolution was the standout performer in the sector today after Bank of America Merrill Lynch raised its rating on the stock from 'neutral' to 'buy'. The US broker cited an attractive dividend yield as one of the reasons behind the move. Sector peer Admiral has continued to lose steam after disappointing with its third-quarter revenues at the end of last week.

Lloyds was also rising on the back of reports the company is looking to sell its 60% stake in St James's Place, a move that would raise around £1bn.

Security group G4S was in demand after saying its financial position continues to be strong and it "remains on track to meet its cash conversion target of 85% of PBITA [profit before interest, tax and amortisation] for the full year."

Chip designer ARM jumped after saying that it is leading a consortium which is to acquire the patent portfolio of MIPS Technologies, the US semiconductor design company, in order to reduce the risk of expensive patent infringement suits in the chip design industry.

Babcock's share price took a hit today despite the engineering support services group reporting a solid set of broadly 'in-line' first-half numbers. With shares performing extremely well in the year-to-date, analysts believe that the stock is now up with events.

High Street bellwether Marks & Spencer rose after announcing that second-quarter revenue gained 2.5%, driven by a strong performance from food sales and a handy contribution from the group's international stores.

Emerging markets bank Standard Chartered was a heavy faller after Credit Suisse downgraded the stock from 'neutral' to 'underperform' and cut its target from 1,460p to 1,340p.
FTSE 250: Hikma rises on Panmure upgrade
Hikma Pharmaceuticals got a boost after Panmure Gordon upgraded the stock from 'hold' to 'buy' and lifted its price target from 720p to 825p. Jefferies kept its 'buy' rating on the stock and retained a 890p target.

Recycled packing firm DS Smith dropped despite saying it continues to expect substantial year-on-year EPS growth and views the remainder of the year with confidence. Investec this morning downgraded the stock to 'hold', saying that while its recent strong share price performance was warranted, it's time to "pause for now".

Talvivaara continued to fall following its announcement on Monday that is has suffered a leakage in the gypsum pond at its mine site, meaning that metals production is temporarily suspended.

Stobart Group was also moving lower, despite the fact it is going ex-dividend on Wednesday.

London & Stamford Property dropped after announcing that it is in 'advanced discussions' to merge with Metric Property Investments. The FTSE-250 property company has offered an all-share deal for Metric, which has a market cap of £176m.
Broker Tips
Broker tips: M&S, Babcock, DS Smith
Seymour Pierce has raised its target for High Street retail giant Marks & Spencer from 325p to 265p after a better-than-expected set of interim figures.

However, with the stock having outperformed the FTSE All Share index by almost 20% this year, the broker keeps its 'hold' rating on the shares.

Babcock's share price took a hit on Tuesday morning despite the engineering support services group reporting a solid set of broadly 'in-line' first-half numbers.

With shares performing extremely well in the year-to-date, analysts believe that the stock is now up with events. Investec has downgraded its rating on the stock from 'buy' to 'hold' but has maintained its long-term positive stance on the business.

Investec has also downgraded its rating for industrial group DS Smith from 'buy' to 'hold', saying that while its recent strong share price performance was warranted, it's time to 'pause for now'.

"Whilst DS Smith offers excellent EPS [earnings per share] growth and potential upside, we think after the strong run the stock has had, it is likely to pause for breath until the pre-close update during April 2013."