Search This Blog


Search Tool

Feb 11, 2013

NYT | Global Update February 11, 2013.: Frail Pope Breaks Tradition and Resigns by Rachel Donadio-

The New York Times International Herald Tribune
February 11, 2013
Compiled 21:45 GMT

Global Update


Frail Pope Breaks Tradition and Resigns

Pope Benedict XVI, saying his health is deteriorating, shocked Roman Catholics on Monday by announcing he would retire after nearly eight years on Feb. 28, becoming the first pope to do so in six centuries.

With Pope's Resignation, Focus Shifts to a Successor

Vatican experts argued that vision, rather than geography, would likely determine Pope Benedict XVI's replacement, and that the ability to communicate with a distracted world would be important.
The Lede

Latest Updates on the Pope's Resignation

The Lede is providing updates on Pope Benedict XVI's announcement on Monday that he intends to resign.

Video: The Resignation of Pope Benedict XVI

The Times's Rachel Donadio reports from Rome. | John T. McGreevy, a professor at Notre Dame, on challenges in the United States for the Roman Catholic Church.

Op-Ed Contributor

Blood Ivory

Elephant poaching must be stopped with a clear, permanent ban on ivory trading.

Catholics React With Shock, Sympathy and Muted Criticism

The news that Pope Benedict XVI would step down drew an immediate outpouring of tributes matched only by speculation about his health and the future of a church in transition.

Last Pope to Resign Did So in Midst of Vatican Leadership Crisis

Pope Benedict XVI's announcement on Monday put him among the small handful of popes in history who have stepped down as the leader of the Roman Catholic Church.

Deadly Stampede at Hindu Festival That Draws Millions

As many as 36 people were reported killed in India during a dash to get to the Hindu festival of Kumbh Mela, which was expected to draw 80 million pilgrims.

Speculative Bets Prove Risky as Savers Chase Payoff

Brokers used to promote bad investments mainly to people trying to get rich quick, but with traditional portfolios losing value, more ordinary retirement savers are being duped.

E.U. Ministers at Odds Over Strength of the Euro

The currency's rise is making exports more expensive. France is seeking measures to stem the tide, but Germany would oppose intervention.

British Regulators to Investigate Accounting at Autonomy

The move comes after accusations from Hewlett-Packard that Autonomy inflated its sales and carried out improper accounting practices before its acquisition by H.P.

Stalled Out on Tesla's Electric Highway

Tesla Motors has opened fast-charging stations between Washington and Boston that would, in theory, allow an E.V. road trip along the East Coast. But a test of that theory in a Model S also involved a tow truck.

E-Mails of Reporters in Myanmar Are Hacked

Several journalists who write about Myanmar have received warnings from Google that their Gmail accounts may have been hacked by "state-sponsored attackers."

Germany Fails to Qualify for Olympics in Hockey

The German men beat Austria, 3-2 in overtime, but failed to qualify for next year's hockey tournament at the Winter Olympics for the first time.

Fan Violence at Greek Cup Basketball Final

Fans stormed the court and tore seats apart at the Greek Cup basketball final. Police used stun grenades. The game was suspended for an hour before Panathinaikos beat Olympiakos.

Figure Skater Mao Asada Wins Four Continents

The two-time world champion Mao Asada won figure skating's Four Continents title in Osaka, Japan.

Rising Voice of Gun Ownership Is Female

Amid the national debate over regulation, women's participation in shooting sports has surged in the last decade, while many gun dealers said the number of female customers went up in 2011.

Young, Liberal and Open to Big Government

In a trend that is surprising pollsters and jangling the nerves of Republicans, a majority of young people embraces President Obama's notion that government can be a constructive force.

With Inquiry, an Attempt to Reassure Los Angeles

As a manhunt continues, a new inquiry is intended to ease concerns about police misdeeds in Los Angeles.
Op-Ed Columnist

Why 'Zero Dark Thirty' Works

The charge of inaccuracy is a poor thing measured against the potency of artistic truth.
Op-Ed Columnist

The Ignorance Caucus

The G.O.P. refuses to live in an evidence-based world.

The Economist | New Selected Articles February 11, 2013.: Pope Benedict XVI resigns

Newsbook: Vatican ragged
Benedict XVI has not been the ruthless operator his detractors feared. In fact he has probably been too passive
read more »

Prospero: A blast from the futuristic past
Kraftwerk makes a rare live appearance in London
read more »
Analects: China's history in Myanmar
Knotty problems of today lead back to a most disorderly period
read more »

Baobab: Nigerian heroes
Nigeria triumphs in the Africa Cup of Nations
read more »
Daily chart: How long to be a millionaire
How long does it take to earn $1m in different countries
read now »
Online debate: Fracking
Is fracking getting a bad rap?
read more »

Stocks end lower on year’s lightest volume: MarketWatch | Wall Street at Close Report February 11, 2013

By Wallace Witkowski and Polya Lesova, MarketWatch 

SAN FRANCISCO (MarketWatch)U.S. stocks finished slightly lower Monday on the lightest volume trading day of 2013, as energy and retail shares underperformed and investors reassessed a rally that’s lifted benchmark indexes 6% this year. 

Week ahead: State of the Union, G20
President Obama will give his State of the Union address on Tuesday, and later in the week, G20 leaders convene in Moscow. 

The Dow Jones Industrial Average  DJIA -0.16%  never rose above its Friday close and ended down 21.73 points, or 0.2%, to finish at 13,971.24, with 16 of its 30 components ending down. The index traded within a narrow 53-point range throughout the session. 

On the Dow, shares of Home Depot Inc. HD +0.02%  and UnitedHealth Group Inc. UNH -1.07%  led the decline, falling about 1%. Shares of blue-chips Microsoft Corp. MSFT +1.13%  and Pfizer Inc. PFE +0.97%  gained about 1%.

DealBook P.M Edition February 11, 2013: R.B.S. Executives Testify in Rate-Rigging Case Home |Business Day| Video The New York Times

Monday, February 11, 2013
R.B.S. Executives Testify in Rate-Rigging Case British politicians grilled current and former executives of the Royal Bank of Scotland on Monday about the management failures that led to the rate-manipulation scandal.

White Collar Watch: The Temptation to Trade on Confidential Information Peter J. Hennig says that two recent insider trading cases seem to indicate that the desire for quick profits is simply clouding our judgment.
Goldman Names a New Co-Head of M.&A. Goldman Sachs has named Gregg R. Lemkau as a new co-head of global mergers and acquisitions, according to an internal memorandum reviewed by DealBook.
British Regulators to Investigate Accounting at Autonomy The move comes after accusations from Hewlett-Packard that Autonomy inflated its sales and carried out improper accounting practices before its acquisition by H.P.
Hakon Invest to Buy Stake in Nordic Retailer for $3.1 Billion The Swedish company Hakon Invest has agreed to buy the remaining stake in the Nordic retailer ICA that it does not already own for $3.1 billion.
Breakingviews: Alternatives to Dell Deal Come With Too Little Certainty Robert Cyran and Richard Beales say that Michael S. Dell and Silver Lake Partners have made a low-ball offer for the PC maker. Yet, it's at a respectable 25 percent premium, and the company's shares haven't topped the $13.65-a-share deal price in months.
Another View: S.&P. Lawsuit Draws New Line in the Sand David Zaring, an assistant professor at the Wharton School of Business, says that the government's lawsuit against Standard & Poor's over credit ratings suggests that we may see fewer settlements and more court cases involving financial institutions in the future.
Corporate Earnings Companies scheduled to report results on Tuesday include Coca-Cola, Goodyear Tire and Rubber and McGraw Hill.
In the United States On Tuesday, Douglas Elmendorf, the director of the Congressional Budget Office, will testify about its outlook before the Senate Budget Committee. He will similarly testify before the House Budget Committee on Wednesday.

Quotation of the Day
"No one envisaged Libor could be fiddled by a cartel of traders at a number of banks."
Johnny Cameron, a former executive at the Royal Bank of Scotland, testifying in a rate-rigging case.

GATA THE GATA DISPATCH February 16, 2013.: New York Sun: The State of the Dollar

New York Sun: The state of the dollar

3:06p ET Monday, February 11, 2013

As President Obama prepares to deliver his State of the Union address Tuesday night, the New York Sun says the state of the dollar should overwhelm all other subjects.

The Sun says: "Particularly in an age of fiat money, where there is no gold or silver backing for our national currency and the only basis of it is the economic good fortune of the nation ... well, particularly in such an age, the state of the dollar can be seen as a proxy for the state of the Union itself. If so, the state of the Union is at a historic low."

The Sun's editorial is headlined "The State of the Dollar" and it's posted here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

NYT | Opinion Today February 11, 2013.: A Tax to Pay for War by R. Russell Rumbaugh

The New York Times

February 11, 2013

Opinion Today

Op-Ed Contributor

A Tax to Pay for War

The budget talks offer an opportunity to impose a war tax. By tying military action to additional revenue, the president would have a freer hand in deciding when to use force.
A retired port worker faces eviction from his lifelong home in the Zhabei district of Shanghai to make way for new apartment towers.
Opinionator | The Great Divide

In China, a Vast Chasm Between the Rich and the Rest

The gulf between China's booming cities and its poor countryside has become a major source of social unrest.
A Pope Lets Go
Frank Bruni's Blog

A Pope Lets Go

Pope Benedict XVI's course of action is a startling departure from that of the pope before him.
Opinionator | Anxiety

Guilt Trip

Guilt is our inner police force, but if we give it too much emotional power, we risk turning into a police state.
Op-Ed Contributor

Gridlock on the Rio Grande

Instead of further militarization of our southern border, we need to invest in the movement of people and goods through our land ports.
Older and Out of Work
Room for Debate

Older and Out of Work

How can the experience of people in their 50s and 60s who are out of work be put to good use? Should older people do internships?

Money Show Investors Daily Alert February 11, 2013 : How to win the global currency wars


Jim Jubak on

ADVFN III Evening Markets Bulletin February 11, 2013.

ADVFN III Evening Euro Markets Bulletin
Daily world financial news Monday, 11 February 2013

London Market Report
Para ver las gráficas agregue a su lista de contactos
FTSE 100EuronextDax perfCAC 40
Enable images to view FTSE 100 chart Enable images to view Euronext chart Enable images to view Dax perf chart Enable images to view CAC 40 chart
Please click on the images to view our interactive charts
London close: Subdued finish to a quiet day
Market Movers
  • techMARK 2,288.32 -0.06%
  • FTSE 100 6,277.06 +0.21%
  • FTSE 250 13,373.63 -0.01%
The FTSE 100 was swinging between gains and losses for most of Monday's session with markets across Europe lacking direction on a quiet day.

"Global markets are trading lower today which may be related to the significant strength within the markets within 2013," said market analyst Craig Erlam from Alpari.

"An overall lack of noteworthy market worthy news and data has allowed traders the freedom to base their trading decisions more upon previous sentimental convictions, along with more technical trading. The Chinese absence from the market also removes many of the more optimistic minded traders."

Meanwhile, senior market analyst Michael Hewson from CMC Markets said that markets are "sitting tight" ahead of the conclusion of today's meeting of European finance ministers, "where the topic of conversation is likely to be the recent rise in the value of the euro."

It is also predicted that the Eurogroup will discuss the contentious bailout of Cyprus and its banks, estimated to be around 17.5bn, though no final decision is expected to be made.

In other news, Goldman Sachs cut global equities from 'overweight' to 'neutral' on a three-month view (though it remains 'overweight on a 12-month view). The bank said on Friday: "some US fiscal uncertainty remains and the European sovereign situation could deteriorate again, but we see risks as smaller than last year."

ADVFN III World Daily Markets Bulletin February 11, 2013.

ADVFN III World Daily Markets Bulletin
Daily world financial news Monday, 11 February 2013

US Market
Stocks Regain Ground But Remain Modestly Lower
After moving to the downside in early trading, stocks continue to see modest weakness in late morning trading on Monday. The major averages have climbed well off their lows for the session but remain stuck in negative territory.
The modest weakness on Wall Street comes as some traders cash in on the recent strength in the , with the Nasdaq giving back some ground after ending last Friday's trading at a twelve-year closing high. The S&P 500 is pulling back off its best closing level in over five years.
Traders are also keeping an eye on developments in Europe, where Eurogroup finance ministers are meeting in Brussels.
While most of the major sectors are showing only modest moves, gold stocks are under pressure amid a decrease by price of the precious metal. With gold for April delivery sliding $17.70 to $1,649.20 an ounce, the NYSE Arca gold Bugs Index is down by 2.1 percent.
Insurance and healthcare provider stocks are also moving lower following recent strength, with the Morgan Stanley Healthcare Payor Index and the Morgan Stanley Healthcare Provider Index both pulling back off record closing highs.
The major averages have climbed further off their lows in recent trading but remain in the red. The Dow is down 19.61 points or 0.1 percent at 13,973.36, the Nasdaq is down 3.00 points or 0.1 percent at 3,190.87 and the S&P 500 is down 0.52 points or less than a tenth of a percent at 1,517.41.

Canadian Market
To view the charts please add to your contact list
Enable images to view CADUSD chart Enable images to view Oil chart Enable images to view Gold chart Enable images to view Allbanc chart
Please click on the images to view our interactive charts
TSX Flat Amid Cautious Trade - Canadian Commentary
Canadian stocks were lingering in the red Monday morning as traders turned cautious ahead of the euro zone finance ministers meet in Brussels later today, with commodities struggling to sustain recent gains.

Tesco rises in London after broker upgrade: MarketWatch | London Markets February 11, 2013.

By Sara Sjolin, MarketWatch 

LONDON (MarketWatch)U.K. stocks kicked off the week higher on Monday, with Tesco PLC among gainers after a broker upgrade and banks benefiting from positive trading sentiment. 

The FTSE 100 index UK:UKX +0.21%  rose 0.2% to close at 6,277.06, adding to a 0.6% gain from Friday.

Tesco TESO -1.06% UK:TSCO +1.46%  picked up 1.5% after Exane BNP Paribas lifted the food retailer to neutral from underperform, citing better sales performances. 

British Land Co. UK:BLND +0.53%  gained 0.5% after the real-estate investment trust said it bought a portfolio of properties in London from Wereldhave NV NL:WHA +1.70%  for 183.8 million pounds ($289.6 million). See: British Land buys London properties for £183.8M 
Risk-sensitive sectors, such as banks and resource firms, were also on the rise, benefiting from investors’ willingness to take on more risk. 

Tesco shares rise after a broker upgrade.
Shares of Barclays PLC UK:BARC +0.97% BCS -0.16%  rose 1% ahead of the bank’s full-year earnings report scheduled for Tuesday, with expectations it will 

Royal Bank of Scotland Group PLC UK:RBS +0.35%   RBS -1.02%  added 0.4% and Standard Chartered PLC UK:STAN +0.59%  put on 0.6%.

Among energy firms, shares of BG Group PLC UK:BG +0.81%  added 0.8% and Royal Dutch Shell PLC UK:RDSB +0.85%   RDS.B -0.20%  gained 0.9%. Oil prices were higher. See: Oil holds steady with Asia on holiday