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Apr 16, 2013

Start-Up Lets Users Track Who Tracks Them: Technology I NYT Global Updates -April 16, 2013-.

The New York Times International Herald Tribune
April 16, 2013
Compiled 20:45 GMT

Global Update


Bomb Details Emerge in Boston Case

The day after two explosions at the Boston Marathon killed three people and injured 176, no arrests had been made, and no one had claimed responsibility.
The Lede

Neighbors Mourn Loss of 8-Year-Old

Bill Richard, the father of the 8-year-old boy who was killed Monday, offered thanks to "our family and friends, those we know and those we have never met, for their thoughts and prayers."

Obama Calls Blasts an 'Act of Terrorism'

President Obama labeled the Boston blasts a terrorist attack for the first time, but he said officials did not know whether it was the work of foreign or domestic groups or individuals.

Video: Sorting Through the Debris in Boston

Authorities are searching the cordoned streets near two explosions that struck Monday in an attempt to find any clues about what happened.

Op-Ed Contributor

Great-Power Myopia

Syria, North Korea and Iran pose equal threats to the great powers. So why do the powers dawdle?

Russian Activist and Protest Leader Girds Himself for Trial

The anticorruption blogger Aleksei A. Navalny is trying to etch a lasting image in the public imagination before his trial on embezzlement charges begins Wednesday.

U.S. Engaged in Torture After 9/11, Review Concludes

A nonpartisan review concluded that the use of torture had "damaged the standing" of the United States and "potentially increased the danger to U.S. military personnel."

Powerful Earthquake Strikes in Iran

A 7.8-magnitude earthquake struck near Iran's border with Pakistan, and it was felt as far away as India and the Middle East.

As Shareholder Fights Heat Up, Activists Aim at Bigger Targets

Shareholder activism is reaching further into corporate America, and the contests are much bigger and involve varied strategies.

American Airlines Computer Failure Halts Flights

The airline grounded all of its flights until 5 p.m. Eastern time after experiencing computer problems.
Economix Blog

Flaws Are Cited in a Landmark Study on Debt and Growth

A 2010 paper argued that countries with heavy debt loads tended to experience slower rates of growth. A new study argues that the paper was flawed, in part because of calculation errors.

India, Long the Home of Outsourcing, Now Wants to Make Its Own Chips

The Indian government has committed itself to buying half of its computing needs from domestic sources - though India manufactures few of those products.
Bits Blog

Start-Up Lets Users Track Who Tracks Them

The latest filtering application by Disconnect, a start-up, has found 2,000 separate companies that track your Web browsing history - and a way to block them.

Dish Offers to Buy Sprint, Joining Phone to TV Service

Dish Network offered $25.5 billion for Sprint Nextel, saying a merger could roll television, high-speed Internet and cellphone services into a single package.

On a Mission to Put Afghans on Bikes

The founder of a nonprofit organization that aids women in conflict zones noticed she was the only woman cycling in Afghanistan. She has set out to change that.

After 2 Decades of Creativity: Why Stop Now?

Francesco Totti first played with Roma in 1993, and only one person has scored more goals in Serie A.
N.H.L. Roundup

Maple Leafs Defeat Devils and Need Only 12 Shots to Do It

The Maple Leafs took just 12 shots, but still shut out the Devils, who lost for the 10th straight time.
News Analysis

Beside a Path to Citizenship, a New Path on Immigration

After tough negotiations, a group of eight senators planned to introduce a proposal on Tuesday that contains a 13-year pathway to citizenship for immigrants here illegally.

Immigration Overhaul Proposal Is Likely to Ignite Fierce Debate

Legislation by a bipartisan group of senators, set for introduction on Tuesday, would demand tough border controls but provide a 13-year path to citizenship for certain illegal immigrants.
Op-Ed Columnist

What You'll Do Next

Big Data and numbers know a lot. But they can't explain all the whys.
Op-Ed Columnist

The Locker and the Closet

The predicted coming-out of a gay player in one of the major sports isn't served by invocations of Jackie Robinson.

MarketWatch I Wall Street at Close Report -April 16, 2013-: Stocks rebound after hardest hit of 2013

By Kate Gibson, MarketWatch 
NEW YORK (MarketWatch) U.S. stocks closed with substantial gains Tuesday, rebounding from their hardest knock this year as first-quarter reports from companies including Coca-Cola Co. beat expectations and data had housing starts up 7% in March. 

“Earnings and the housing report were the key drivers to turn things around today,” said Andrew Fitzpatrick, director of investments at Hinsdale Associates Inc. in Hinsdale, Ill.
On Tuesday, the Dow Jones Industrial Average DJIA +1.08%  recouped a large chunk of its 265-point loss the prior day, rising 157.58 points to 14,756.78 for its best session in nearly seven weeks.
The S&P 500 index SPX +1.43%  added 22.21 points to 1,574.57, with materials leading the gains across all 10 of its major sectors. 

The Nasdaq Composite COMP +1.50%  rose 48.14 points to 3,264.63. 

For every stock falling nearly five gained on the New York Stock Exchange, where 743 million shares traded. Composite volume topped 3.6 billion. 

Treasury prices slid, with the yield on the benchmark 10-year note 10_YEAR +2.38%  used in determining mortgages and other consumer loans rising to 1.72%. 

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery GCM3 +0.39%  climbed $26.30 to finish at $1,387.40 an ounce, recovering a slight piece of what was lost after their steepest decline since 1983. The price of oil CLK3 +0.08%  gained marginally after a three-session drop, edging up 1 cent to $88.72 a barrel. 

Tuesday’s economic reports had U.S. housing starts rising 7% in March, paced by apartment-building construction, while consumer inflation fell 0.2% last month and industrial production increased 0.4%.

Goldman beats on profits
Goldman Sachs posts better-than-expected profit in the first quarter.

The upbeat housing report boosted building-related companies, with W.W. Grainger Inc. GWW -6.87%   up 7.2% and PulteGroup Inc. PHM +4.20%  up 4.2%. 

Share of Dell Inc. DELL 0.00%  were flat after the personal-computer maker said a special committee of its board had reached an agreement with billionaire investor Carl Icahn to cap his share ownership as Dell mulls takeover offers from Icahn’s firm as well as from a group led by CEO Michael Dell and from buyout specialist Blackstone Group. 

Goldman Sachs shares GS -1.61%  erased initial gains to end down 1.6% after the investment bank reported first-quarter results that beat Wall Street expectations, but trading revenue disappointed and Chairman and CEO Lloyd Blankfein took a cautious tone

Shares of Coca-Cola Co. KO -0.11% rose 5.7% after the beverage maker reported first-quarter results that beat expectations, while retailer Target Corp. TGT -0.15%  warned first-quarter earnings would come in below expectations, taking a toll on Target shares

The fact that Coca-Cola topped estimates a day after similar results from Citigroup Inc. C +0.17%   “conveys the global picture is not as bad as we may be thinking,” said Hinsdale Associates’ Fitzpatrick. 

BlackRock Inc. BLK +1.32% , the biggest U.S. provider of exchange-traded funds, topped Wall Street forecasts with a 10% rise in first-quarter profit. U.S. Bancorp USB -1.77% matched earnings forecasts, while revenue saw an unexpected drop. 

Reuters Enlarge Image
Yahoo is expected to report results after the close.
Johnson & Johnson JNJ -0.08% gained 2.1% after the maker of drugs and medical devices reported first-quarter revenue that beat expectations.
“Fundamentally we feel good about the earnings that are coming through, [and] it looks like it’s going to be the same as the last few quarters,” with roughly 60% beating expectations, 20% matching and 20% falling short, said Chip Cobb, portfolio manager at BMT Asset Management at the Bryn Mawr Trust Co. in Bryn Mawr, Pa. 

“We hope and pray that Boston is a singular event, and that’s all there is going to be,” Cobb said of Monday’s bombings at the Boston Marathon that killed three people and injured 176 others, with 17 still in critical condition. 

Kate Gibson is a reporter for MarketWatch, based in New York.

DealBook P.M. Edition -April 16, 2013-: Deal Professor: As Shareholder Fights Heat Up, Activists Aim at Bigger Targets Home |Business Day| Video The New York Times

Tuesday, April 16, 2013
Deal Professor: As Shareholder Fights Heat Up, Activists Aim at Bigger Targets Steven M. Davidoff says that shareholder activism is reaching further into corporate America, and the contests are much bigger and involve varied strategies.
For the latest updates, go to »

Europe Votes to Curb Banker Bonuses European politicians approved major new rules on Tuesday to cap the amount that bankers at the region's largest institutions can receive in bonuses.
Carl C. Icahn, the activist investor, at a fundraiser for New York's police in 2010.
Dell Reaches a Deal With Icahn A special committee of Dell's board has reached an agreement with Carl C. Icahn that limits his ownership stake in the company while allowing him to contact other shareholders about a possible bid for the computer maker.
Glencore's Takeover of Xstrata Gains Chinese Approval To ease Chinese antitrust concerns, Glencore said it would sell a Peruvian copper mine owned by Xstrata. Glencore also said Mick Davis would step down as chief executive of Xstrata soon as the takeover was completed.
Laurence D. Fink, chairman and chief of the money manager BlackRock.
BlackRock Earnings Rise 10% Net income in the first quarter was $632 million as investors put $39.4 billion of new money into BlackRock products, with most of that going into stock-related investments.
Investors are returning to equities as Wall Street continues its ascent.
Goldman Profit Reflects Bank Sector's Strength The firm reported a first-quarter profit of $2.19 billion, or $4.29 a share, up from the year-ago period and driven by investment banking and lending.
SoftBank Shares Drop After Dish's Competing Bid for Sprint SoftBank said its $20.1 billion offer for a 70 percent stake in Sprint still represented better value than Dish Network's offer, but investors disagreed, and Softbank shares closed down 6.8 percent.
UBS Lures European Deal Maker Away From Nomura William Vereker, the former joint head of global investment banking at Nomura, has joined UBS as head of corporate client solutions in Europe.
Breakingviews: Thermo Fisher's Deal Shows Life in Strategic Bids Richard Beales says that growing competition among buyers could make it a full-fledged seller's market.
Economic Reports Data to be released on Wednesday include the Federal Reserve's beige book.
Corporate Earnings Companies scheduled to release quarterly results on Wednesday include Abbott Laboratories, Bank of America, Mattel, American Express and eBay.
In the United States On Wednesday, the Senate Commerce Committee will hold a hearing about the future of passenger rail in the Northeast Corridor.
For the latest updates, go to »

Quotation of the Day
"The rules will put an end to the culture of excessive bonuses, which encouraged risk-taking for short-term gains."
José Manuel Barroso, president of the European Commission, on a vote to cap banker bonuses.

Debt elimination, tax freeze are key elements of Liberal platform: BIV Today's Business News -April 16, 2013-.

Politics and Policy

Exclusive: Telus’ BC Place bill cost taxpayers $15.2m

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Debt elimination, tax freeze are key elements of Liberal platform

Debt elimination and a freeze on taxes are core elements in the BC Liberal Party’s election platform, which ... READ MORE



NDP announces five-point forestry plan

The BC NDP party has developed a five-point plan to help keep the province’s forestry industry competitive, Adrian Dix announced ... READ MORE



Vancouver software startup lands WestJet founder as chairman

Vancouver software startup Jostle has followed up successful financing rounds by landing WestJet co-founder ... READ MORE

More News...


Troubled Vancouver biotech QLT announces US$200m dividend launched to encourage support for the mining industry

B.C. government launches PST review and education program

This Week's Issue


Fungus farmers set to reap crop worth $2,200 per kilo

First B.C. black Périgord truffle could seed rich investment harvest in province's agriculture sector ... READ MORE


Video on

BIV on Global BC: Cultivating truffles in B.C.

BIV has launched its video platform with clips of the team's daily appearances on Global BC Morning News. Here, Timothy Renshaw discusses the rise in truffle farming in B.C. ... CLICK HERE



Mike Klassen: Independent focus

CFIB director of provincial affairs for British Columbia Mike Klassen has been in the movie business, digital games production and politics; now he ... READ MORE