NYT Global Update -November 13, 2012-: France Recognizes New Syrian Rebel Group, Hints It May Provide Weapons

November 13, 2012
Compiled 21:45 GMT

Global Update

TOP NEWS France Recognizes New Syrian Rebel Group, Hints It May Provide Weapons By STEVEN ERLANGER and RICK GLADSTONE France on Tuesday became the first European country to recognize the newly formed Syrian rebel coalition, going beyond other Western pledges of support. Complete Coverage » | Video Feature: Watching Syria's War News Analysis Petraeus Case Raises Fears About Privacy in Digital Era By SCOTT SHANE The F.B.I. investigation that toppled David H. Petraeus, the director of the C.I.A., underscores a danger that civil libertarians have long warned about. White House Supports Top U.S. Commander in Afghanistan By ELISABETH BUMILLER President Obama has faith in Gen. John R. Allen, the White House spokesman said. General Allen is under investigation for "inappropriate communication" with a woman linked to the Petraeus affair. Times Topics: David Petraeus | John R. Allen Global Edition Home Page »

U.S. Video: The Petraeus Scandal Widens TimesCast Politics: Gen. John Allen is linked to the investigation of David Petraeus. | Implications for national security. | Can Congress reach a deal during the lame duck? Opinion China Changes Leaders The U.S.-China Reset By MINXIN PEI The priority for both Beijing and Washington must be to defuse tensions and find common ground. Timeline: China's Communist Party Congresses

WORLD Concern Grows Over Top Military Officers' Ethics By THOM SHANKER David H. Petraeus's resignation comes during a year when a large number of senior officers were investigated and fired for poor judgment and sexual improprieties. Motives Questioned in F.B.I. Inquiry of Petraeus E-Mails Motives Questioned in F.B.I. Inquiry of Petraeus E-Mails By SCOTT SHANE and CHARLIE SAVAGE Law enforcement officials and legal experts said the citizen complaint about unwanted e-mails was handled "on the merits" but that it was more intriguing because the e-mails showed an inside knowledge of the C.I.A. director's activities. Competing Pressures for F.B.I. More World News » BUSINESS I.H.T. Special Report | Oil & Money After Years of Waiting, Virginia Wants to Make Its Name in Oil By ALISON FITZGERALD The state is making efforts to restore a lease sale for energy exploration that was canceled in 2010 after the oil spill in the Gulf of Mexico. Russia Anticipates Boom in Oil Extracted From Shale Fracking Still Controversial in Europe North American Energy Rebound Catches Industry's Attention Media Decoder New Editor for a Shrinking Washington Post By CHRISTINE HAUGHNEY Marcus Brauchli, hired in 2008 after working at The Wall Street Journal, is stepping down as top editor as The Post continues to grapple with the challenges of a difficult business environment for newspapers. Square Feet A Wounded Wall Street Is Expected to Stay Put By C. J. HUGHES The financial sector and its residents will probably remain in their downtown Manhattan canyons, despite the flooding sure to happen again in the future. Federal Aid for New York Faces Hurdle in Congress 8:10 PM ET Flood Insurance, Already Fragile, Faces New Stress 10:38 PM ET More Business News » TECHNOLOGY Bits Blog After Overhaul, Windows Chief Leaving Microsoft By NICK WINGFIELD Steven Sinofsky is departing just weeks after the release of Windows 8, the biggest makeover in decades of the company's flagship product. Facebook's False Faces Undermine Its Credibility By SOMINI SENGUPTA Fake accounts and fraudulent "likes" are an especially acute problem for Facebook as it has sought to distinguish itself as a place for real identity on the Web. Vodafone Writes Down Units in Spain and Italy By KEVIN J. O'BRIEN The company blamed southern Europe's economic woes, which has led to rising unemployment and economic stagnation in Spain and Italy, for the nearly $9.3 billion charge. More Technology News » SPORTS For Damon, a Last Hurrah or a Step Toward 3,000 By BENJAMIN HOFFMAN Johnny Damon, who was released by Cleveland in August and is 231 hits short of 3,000 for his career, will try to help Thailand qualify for the 2013 World Baseball Classic. Trout and Harper Voted Baseball's Top Rookies A Heart-Thumping Ride on a Racing Catamaran By ARON PILHOFER The writer, a guest on a catamaran during an America's Cup World Series race, never felt such acceleration on a sailboat. Organizers of the 2013 Cup are hoping speed will bring back interest in the sport. What Separates Messi and Pelé? The World Cup By ROB HUGHES Lionel Messi just surpassed the Brazilian great for most goals in a year, but they can't be compared in the same sentence until Messi wins a world title for Argentina. More Sports News » U.S. NEWS Farmworkers' Endless Worry: Tainted Tap Water By PATRICIA LEIGH BROWN Dozens of small and predominantly Latino communities in the Central Valley region of California continue to be plagued by contaminated drinking water. Free Online Courses to Be Evaluated for Possible College Credit By TAMAR LEWIN A pilot project is to determine whether some massive open online courses, or MOOCs, are similar enough to traditional college courses that they should be eligible for credit. Hospitals Ordered to Do More to Protect Kidney Donors By KEVIN SACK The United Network for Organ Sharing will require that volunteers be informed about risks, screened for medical and psychological suitability, and tracked for future health problems. More U.S. News » OPINION Counterpoint The Real China Model By MARK ELLIOTT China's ancient examination system was far from the "ladder of success" it is reputed to be. Op-Ed Columnist Obama the Dealmaker By DAVID BROOKS To build a great middle-class economy, President Obama must isolate those who distract with their partisan incentives and instead present a clear offer. Columnist Page More Opinion »

RTTNews Wall Street at Close Commentary -November 13, 2012-: Stocks Close Mostly Lower On Late-Day Weakness - U.S. Commentary

Stocks Close Mostly Lower On Late-Day Weakness - U.S. Commentary

11/13/2012 4:23 PM ET

After showing a lack of direction for much of the trading day on Tuesday, stocks moved to the downside going into the close, ending the session mostly lower. Lingering concerns about the looming fiscal cliff continued to weigh on investor sentiment.

The major averages ended the day firmly in negative territory, at their worst closing levels in over three months. The Dow fell 58.90 points or 0.5 percent to 12,756.18, the Nasdaq slid 20.37 points or 0.7 percent to 2,883.89 and the S&P 500 dipped 5.50 points or 0.4 percent to 1,374.53.

The lower close on Wall Street came as traders expressed continued concerns about whether lawmakers in Washington will be able to reach an agreement that will avoid the significant tax increases and government spending cuts currently set to take effect at the end of the year.

Leaders from both political parties have called for compromise on the issue, although a familiar battle over higher taxes on wealthier Americans could lead to continued gridlock on Capitol Hill.
Traders also kept an eye on developments in Europe, where finance ministers agreed to give Greece two extra years to meet its budget targets.

After a meeting in Brussels on Monday, Eurogroup chair Jean-Claude Juncker also revealed that the ministers will hold another meeting next week to decide on providing the next tranche of Greek aid.
Technology stocks helped to lead the markets lower in late-day trading, with software giant Microsoft (MSFT) posting a notable loss on the day.

Microsoft ended the session down by 3.2 percent after announcing that Windows and Windows Live President Steven Sinofsky will be leaving the company.

Meanwhile, a positive reaction to earnings news from well-known retailers helped to limit the downside for the markets, with shares of Home Depot (HD) showing a strong move to the upside.
Home Depot advanced by 3.6 percent after the home improvement retailer reported better than expected third quarter results and raised its guidance for the full year.
Dick's Sporting Goods (DKS) and TJX (TJX) also posted notable gains after reporting their quarterly results before the start of trading.
Sector News
With Microsoft helping to lead the way lower, software stocks saw considerable weakness on the day. Reflecting the weakness in the software sector, the Dow Jones Software Index fell 2.1 percent to its lowest closing level in five months.
Brokerage stocks also came under considerable selling pressure, dragging the NYSE Arca Broker/Dealer Index down by 1.6 percent. Charles Schwab (SCHW) and E*Trade (ETFC) turned in two of the sector's worst performances.

Networking, steel, and gold stocks also showed significant moves to the downside, with the weakness in the gold sector coming amid a decrease by the price of the precious metal.
Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Tuesday. Japan's Nikkei 225 Index edged down by 0.2 percent, while Hong Kong's Hang Seng Index fell by 1.1 percent.

Meanwhile, the major European markets turned higher over the course of the trading day. While the German DAX Index closed just above the unchanged line, the U.K.'s FTSE 100 Index rose by 0.3 percent and the French CAC 40 Index advanced by 0.6 percent.

In the bond market, treasuries ended the day modestly higher, extending a recent upward move. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.2 basis points to a two-month closing low of 1.589 percent.

Looking Ahead

Trading on Wednesday could be impacted by reaction to quarterly results from Cisco Systems (CSCO), with the networking giant releasing its fiscal first quarter results after the close of today's trading.

Additionally, Abercrombie & Fitch (ANF), Staples (SPLS), and Tyco (TYC) are among the companies due to release their quarterly results before the start of trading on Wednesday.

A batch of U.S. economic data may also attract attention, with traders likely to keep a close eye on a key report on retail sales. The Federal Reserve is also due to release the minutes of its most recent monetary policy meeting.

by RTT Staff Writer

DealBook Afternoon Edition -November 13, 2012.: Goldman Ponders a Leaner Future

Tuesday, November 13, 2012

TOP STORY

Under New Rules, Goldman Ponders a Leaner Future Goldman Sachs is looking for fewer touches, at least in one sense. The firm is relying more on technology and reducing expenses as it contends with new regulations and an uncertain market, said Lloyd C. Blankfein, Goldman's chief executive, at the Bank of America Merrill Lynch Banking & Financial Services Conference in Manhattan on Tuesday. In the firm's equities business, for instance, Mr. Blankfein said that 60 to 70 percent of shares are now traded through "low-touch" channels, without the direct involvement of people. Electronic execution accounts for significant portions of activity in the firm's cash fixed-income business as well, Mr. Blankfein said at the conference, which is intended to give Wall Street analysts a broad look at the industry. The commitment to new technology is part of a broader effort to streamline the investment firm. With regulators imposing stricter requirements on big firms, the former ways of Wall Street now look less desirable. "For the first time, it's clear that size and complexity come with a higher cost," Mr. Blankfein said.

• DEALBOOK »
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• DEALBOOK HIGHLIGHTS

  Winklevoss Twins Lead Investment in Start-Up Shopping Site Cameron and Tyler Winklevoss are using prodigious winnings from their legal settlement with Facebook to build a portfolio of investments in start-up Internet businesses.

  • DEALBOOK »

  Regulator to Press for Financial Response Team for Disasters Bart Chilton, a regulator at the Commodity Futures Trading Commission, plans on Tuesday to urge financial firms and federal authorities to bolster coordination in the face of future calamities.

  • DEALBOOK »

  Blackstone Enters $1.2 Billion Energy Partnership The alternative investment giant has announced a partnership with the oil producer LLOG Exploration to invest a combined $1.2 billion in offshore assets in the Gulf of Mexico.

  • DEALBOOK »

  LOOKING AHEAD

  Goldman Sachs names its newest class of partners. In Washington, the Senate Banking Committee holds a hearing about Basel III rules on Capital. And the minutes of the Federal Reserve policy meeting of Oct. 23 and 24 are released. 
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NYT Politics -November 13, 2012-: Democrats Like a Romney Idea on Income Tax

November 13, 2012

Politics

Democrats Like a Romney Idea on Income Tax

By JONATHAN WEISMAN

With both parties positioning for negotiations on tax cuts and spending reductions, Democrats are latching on to an idea to raise taxes on the rich through a cap on deductions.

Secret of the Obama Victory? Rerun Watchers, for One Thing

By JIM RUTENBERG

The Obama campaign found supporters by culling never-before-used data about viewing habits and combining it with more personal information.

More Politics

Top Candidates for State Dept. Are Both Facing Possible Hurdles

By MARK LANDLER

Senator John Kerry and Susan E. Rice, the United Nations ambassador, are considered front-runners to succeed Hillary Rodham Clinton as secretary of state.

Labor Leaders Have Obama's Back, and Are Ready to Help

By STEVEN GREENHOUSE

Unions say they will rally behind a broader agenda, seeking to counter business and conservative groups pushing for cuts in social programs and tax breaks for corporations and the wealthy.

White House Supports Top U.S. Commander in Afghanistan

By ELISABETH BUMILLER

President Obama has faith in Gen. John R. Allen, the White House spokesman said. General Allen is under investigation for "inappropriate communication" with a woman linked to the Petraeus affair.

• Times Topics: David Petraeus | John R. Allen

Push Expands for Legalizing Same-Sex Marriage

By ERIK ECKHOLM

Buoyed by victories in four states, advocates of same-sex-marriage rights plan to press their cause in Delaware, Hawaii, Illinois, Rhode Island, Minnesota, New Jersey and Oregon.

Diverse Backgrounds for 5 New Faces Sent to House

By RAYMOND HERNANDEZ

Chris Collins, Sean Patrick Maloney, Hakeem Jeffries and Grace Meng in New York, and Elizabeth H. Esty of Connecticut, represent an ideological mix.

The Caucus

Ryan Surprised by Voters in 'Urban Areas'

By MICHAEL D. SHEAR

Representative Paul D. Ryan of Wisconsin blamed Democratic turnout in "urban areas" for the loss by the Republican presidential ticket last week, saying he was surprised that he and Mitt Romney did not do better in the nation's big cities.

Support Waivers for Anti-Tax 'Pledge'

By JEREMY W. PETERS

Some incoming Congressional freshmen, and even some incumbents, seem to be backing away from the anti-tax "pledge" sponsored by Grover Norquist's group.

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Political Times

Will Obama Agree to Entitlement Cuts? He Already Has

By MATT BAI

President Obama, during his negotiations with House Speaker John A. Boehner in the summer of 2011, signed off on painful cuts to Medicare, Medicaid and Social Security.

• Democrats Like a Romney Idea on Income Tax
• Support Wavers for Anti-Tax 'Pledge'

Multimedia

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Results from the 2012 presidential, Senate and House Races.

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Slide Show: After Hard-Fought Campaign, a Victory for Obama

Americans went to makeshift sites in East Coast communities devastated by Hurricane Sandy and traditional voting booths in schools, libraries and town halls across the rest of the country.

Video Feature: President Obama's Election Night Speech

"Tonight you voted for action, not politics as usual," President Obama said after winning the election. "You elected us to focus on your jobs, not ours."

NYT Afternoon Update -November 13, 2012-: Petraeus Case Raises Fears About Privacy in Digital Era

November 13, 2012

Afternoon Update

TOP NEWS Petraeus Case Raises Fears About Privacy in Digital Era By SCOTT SHANE The F.B.I. investigation that toppled David H. Petraeus, the director of the C.I.A., underscores a danger that civil libertarians have long warned about. White House Supports Top U.S. Commander in Afghanistan By ELISABETH BUMILLER President Obama has faith in Gen. John R. Allen, the White House spokesman said. General Allen is under investigation for "inappropriate communication" with a woman linked to the Petraeus affair. Political Times Will Obama Agree to Entitlement Cuts? He Already Has By MATT BAI President Obama, during his negotiations with House Speaker John A. Boehner in the summer of 2011, signed off on painful cuts to Medicare, Medicaid and Social Security. Democrats Like a Romney Idea on Income Tax Support Wavers for Anti-Tax 'Pledge' A Heart-Thumping Ride on a Racing Catamaran By ARON PILHOFER The writer, a guest on a catamaran during an America's Cup World Series race, never felt such acceleration on a sailboat. Organizers of the 2013 Cup are hoping speed will bring back interest in the sport. France Recognizes New Syrian Rebel Group, Hints It May Provide Weapons By STEVEN ERLANGER and RICK GLADSTONE France on Tuesday became the first European country to recognize the newly formed Syrian rebel coalition, going beyond other Western pledges of support. • NYTimes.com Home Page »

U.S. Video: The Petraeus Scandal Widens TimesCast Politics: Gen. John Allen is linked to the investigation of David Petraeus. | Implications for national security. | Can Congress reach a deal during the lame duck? Opinion Opinionator Going in Circles With Hate Speech By STANLEY FISH As a new collection of essays on hate speech makes clear, there is no completely satisfying way to deal with the topic.

BUSINESS I.H.T. Special Report | Oil & Money After Years of Waiting, Virginia Wants to Make Its Name in Oil By ALISON FITZGERALD The state is making efforts to restore a lease sale for energy exploration that was canceled in 2010 after the oil spill in the Gulf of Mexico. Media Decoder New Editor for a Shrinking Washington Post By CHRISTINE HAUGHNEY Marcus Brauchli, hired in 2008 after working at The Wall Street Journal, is stepping down as top editor as The Post continues to grapple with the challenges of a difficult business environment for newspapers. Square Feet A Wounded Wall Street Is Expected to Stay Put By C. J. HUGHES The financial sector and its residents will probably remain in their downtown Manhattan canyons, despite the flooding sure to happen again in the future. Bits Blog Why Sinofsky Left: A Web Roundup By THE NEW YORK TIMES The announcement of Steven Sinofsky's ouster from Microsoft came late on Monday, so the story has only begun to be reported. Here is what various news organizations and bloggers are saying. Wall Street Loses Midday Gains By REUTERS Equities turned down on worries over budget cuts and tax increases scheduled to take effect in January. Home Depot Results Edge Up, Beating Expectations 11:08 AM ET • More Business News »