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Apr 25, 2013

Gerald Celente - Die MetallWoche - April 22, 2013

The New York Times Breaking News April 25, 2013.: Senate Approves Bill to Address Air Traffic Delays

The New York Times | BREAKING NEWS ALERT
BREAKING NEWS Thursday, April 25, 2013 9:01 PM EDT
Driven by bipartisan concerns over mounting airport delays, the Senate reached agreement Thursday night to give the secretary of transportation enough flexibility to bring the nation’s air traffic control system back up to full strength.
The legislation, which passed unanimously before the Senate left town for the next week, would allow as much as $253 million to be moved from other parts of the Transportation Department to the Federal Aviation Administration. Advocates said that should be enough to stop further furloughs and keep the air traffic control system operating at a normal pace through Sept. 30, the end of the current fiscal year.
But the impact of $85 billion in across-the-board spending cuts, which went into effect March 1, continues to ripple through other parts of the government, with a broader intervention nowhere in sight.

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http://www.nytimes.com?emc=na

The Economist I Editor's picks April 25, 2013: Politics and Business this week.

The Economist
Thursday April 25th, 2013
Editor's picks


Bjorn Kjos
Viking of low-cost airlines
For Bjorn Kjos, Norwegian Air Shuttle's boss, success may depend on ruthlessness
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Bad beehaviour
The strange case of the criminal bumblebees
To most people, bumblebees are charming, slightly absurd creatures that blunder through garden and meadow...
READ MORE »
Can economists understand people
Changing consumer-choice theory
A Nobel prizewinner argues for an overhaul of the theory of consumer choice
READ MORE »
Politics this week
Enrico Letta was set to become Italy's new prime minister, after being asked by Giorgio Napolitano, the president, to form a coalition government.
SEE ARTICLE »
Portugal unveiled an ambitious stimulus programme to revive its economy. The government wants to reduce corporation tax, produce incentives to attract more overseas companies, do away with much of the red tape that stops investment and provide cheap financing for smaller firms.

MORE FROM: POLITICS THIS WEEK »
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Business this week
Britain avoided a triple-dip recession, though the economy grew by a paltry 0.3% in the first quarter. It contracted by 0.3% in the last three months of 2012. The GDP figure brought some relief for George Osborne, the chancellor of the exchequer, after a politically difficult few days in which Fitch withdrew its triple-A rating for Britain (the second credit-rating agency to do so) and the IMF urged him to ease back on austerity.
SEE ARTICLE »
MORE FROM: BUSINESS THIS WEEK »

High and Low Finance From the Fed, a New Chill Toward Foreign Banks I BUSINESS I The New York Times Global Update April 25, 2013

The New York Times International Herald Tribune
April 25, 2013
Compiled 20:45 GMT

Global Update

TOP NEWS

U.S. Says It Suspects Assad Used Chemical Weapons

By MARK LANDLER
In letters released to Congressional leaders, the White House said United States intelligence agencies now assess, with "varying degrees of confidence," that the Syrian government has used chemical weapons.

Syria Plays on Fears to Blunt American Support of Rebels

By ANNE BARNARD
As Islamists increasingly fill the ranks of Syrian rebels, President Bashar al-Assad is waging an energized campaign to persuade the United States that it is on the wrong side of the war.

Iraqi Premier Urges Talks but Vows to Battle Insurgents

By TIM ARANGO
Prime Minister Nuri Kamal al-Maliki warned on Thursday that the growing sectarian conflict in Iraq could lead to a civil war like the one raging in Syria.
World

Video: Syria's Shifting Strategy

As the war continues, Syrian officials are trying to convince Western countries that they should not support rebel forces because, the officials contend, many are extremists allied with Al Qaeda.
Opinion

Op-Ed Guest Columnist

Learning From China, but What?

By YU HUA
Skeptics wonder if a new scholarship is really about doing business.
WORLD

Syria Claims Disruption of Rebel Supply Lines

By HWAIDA SAAD and ALAN COWELL
The government in Damascus claimed to have overrun a bitterly contested town east of Damascus, but rebels disputed these assertions.

Death Toll at 238 in Bangladeshi Building Collapse

By JULFIKAR ALI MANIK and JIM YARDLEY
Hundreds of people were believed trapped in the wreckage of the building, where several factories made clothes for European and American markets.

Parents Say Boston Bombing Suspects Are Innocent

By DAVID M. HERSZENHORN
At an emotional news conference, Anzor and Zubeidat Tsarnaev made accusations of a conspiracy theory and refused to accept the possibility that their children committed such an act.
BUSINESS
High & Low Finance

From the Fed, a New Chill Toward Foreign Banks

By FLOYD NORRIS
Foreign banks are pushing back against a Federal Reserve proposal to tighten rules on their American subsidiaries.

Doctors Denounce Cancer Drug Prices of $100,000 a Year

By ANDREW POLLACK
More than 100 influential cancer specialists argued in a journal that some drug prices are unsustainable and perhaps even immoral.
DealBook

System Failure Delays Options Exchange

By JULIE CRESWELL and BEN PROTESS
The Chicago Board Options Exchange opened after a delay of several hours because of a system failure.
TECHNOLOGY

New Technology Inspires a Rethinking of Light

By FELICITY BARRINGER
Beyond the energy and cost savings, new types of lighting are now envisioned as ways to heal, soothe, invigorate or protect people.

Streaming on Yahoo, It's 'S.N.L.'

By BRIAN STELTER
The Internet company signed a deal for exclusive streaming rights to past episodes of "Saturday Night Live" to gain an edge in a small market for digital video advertising.

Amazon Plans an Internet Video Device

By NICK WINGFIELD
The company is developing a television set-top box and is talking with content providers to distribute video services.
SPORTS

Dortmund Packs a Potent Sting, Too

By ROB HUGHES
Dortmund crushed Real Madrid, 4-1, in the Champions League, just a night after Bayern Munich beat Barcelona, 4-0.

Suárez Barred 10 Games for Biting Opponent

By ANDREW DAS
England's soccer association handed down one of its most severe penalties Wednesday after the Liverpool star Luis Suárez bit a Chelsea defender in Sunday's game.

Ascendant German Clubs Signal Shift in Continental Power

By JACK BELL
For the second consecutive day, a German club thoroughly outplayed a Spanish one. Borussia Dortmund defeated Real Madrid, 4-1, Wednesday, a day after Bayern Munich topped Barcelona, 4-0.
U.S. NEWS

Texas Fertilizer Plant Fell Through Regulatory Cracks

By MANNY FERNANDEZ and STEVEN GREENHOUSE
It is still unclear how much ammonium nitrate, the chemical linked to last week's deadly blast, was stored at a West, Tex., plant that operated in a regulatory patchwork.

Officer's Killing Spurred Pursuit in Boston Attack

By WENDY RUDERMAN, SERGE F. KOVALESKI and MICHAEL COOPER
The shooting of Officer Sean A. Collier was the first bloody altercation in a chain of events that ended with one suspect in the Boston bombings captured and the other dead.

Boston Bombing Suspects Talked of Times Square as Next Target, New York Officials Say

By J. DAVID GOODMAN
The surviving suspect told investigators of their intentions, the mayor and police commissioner said, but some federal officials discounted the notion.
OPINION
Op-Ed Contributor

A Different Balkan Story

By CATHERINE ASHTON
Last Friday's agreement between Kosovo and Serbia to normalize relations raises rare hopes for peace.
Editorial

Moving Past the Last Balkan War

By THE EDITORIAL BOARD
Though the European Union fumbled the euro crisis, the agreement it brokered between Serbia and Kosovo shows the good work it can do.
Op-Ed Columnist

Canada's Oil Minister, Unmuzzled

By JOE NOCERA
On a visit to New York and Washington, Joe Oliver has a few things to say to opponents of the Keystone XL oil pipeline.

MarketWatch I Wall Street at Close Report April 25, 2013: U.S. stocks rise after upbeat jobs data, earnings




By Wallace Witkowski and Polya Lesova, MarketWatch 

SAN FRANCISCO (MarketWatch)U.S. stocks ended up on Thursday, buoyed by corporate-earnings reports and data showing a sharp drop in weekly jobless claims. 

The S&P 500 index SPX +0.40% a broad measure of the stock market, closed up 6.37 points, or 0.4%, at 1,585.16, after hitting an intraday high of 1,592.64. 

Stocks, which had been trading near session highs for much of the day, pared gains in the afternoon following a report in the German daily Handelsblatt that Bundesbank President Jens Weidmann sent a letter to Germany’s constitutional court criticizing the European Central Bank’s Outright Money Transactions, or OMT. Weidmann, in his comments, said the OMT can affect the independence of central banks and devalues the sovereign debt of countries in the program. 

The OMT bond-buying program allows the ECB to step in to buy the debt of governments that apply for help from Europe’s rescue fund. 

U.S. stocks had maintained positive momentum for most of the day after the Labor Department reported the number of people who applied for new unemployment benefits last week fell by 16,000 to 339,000. However, the decline probably reflected some seasonal distortions tied to the Easter holiday. 

While the improved employment numbers certainly did not hurt stocks, Mark Luschini, chief investment strategist at Janney Montgomery Scott, thinks earnings reports are doing more to support stocks. 

“We’re really getting into earnings season in earnest,” Luschini said. “Better-than-expected numbers are coming in to a lowered bar even though some of the economic news over the past few weeks hasn’t been that good.” 

Many of the people who are buying stocks now are the same ones who were selling them a week ago on bad news, said Brian Belski, chief investment strategist at BMO Capital Markets, who compared the behavior to that of an old-fashioned bull market. “Unfortunately, for many investors, they haven’t seen this in over a decade,” Belski said. 

Nine out of 10 S&P 500 sectors were in positive territory with materials and telecoms leading the way and energy registering a slight loss on the day. 


Spain to ease austerity
As unemployment rises to 27.2% of the workforce, the Spanish government is about to introduce a budget that eases austerity measures. 


Akamai Technologies Inc. AKAM +17.71% was the top gainer in the S&P 500, with shares closing up nearly 18% after the company’s quarterly earnings rose 65%. 

Cliffs Natural Resources Inc. CLF +0.24% was close behind with a 15% gain after reporting better-than-expected quarterly results late Wednesday. 

S&P 500 options were affected Thursday after the Chicago Board Options Exchange halted trading after experiencing system problems. Trading resumed at 1 p.m. Eastern. 

The Dow Jones Industrial Average DJIA +0.17% finished up 24.50 points, or 0.2%, at 14,700.80, with 11 of its 30 components in negative territory. Earlier, the index traded as high as 92 points for an intraday high of 14,768.05. 

Verizon Communications Inc. VZ +2.74% was the best performer on the index with a 2.7% gain. Reuters reported the telecom major plans to bid $100 billion in cash and stock to buy out Verizon Wireless, which it jointly owns with Vodafone Group PLC VOD +2.82% UK:VOD +1.66% . A spokesperson for Verizon declined to comment on the Reuters report. 

American Express Co. AXP +1.05% shares gained 1.1%. 


Reuters Enlarge Image
Verizon is the top gainer on the Dow industrials.
3M Co. MMM -2.77% was the top decliner in the Dow. Its shares dropped nearly 3% after the industrial conglomerate lowered its full-year earnings estimate

Exxon Mobil Corp. XOM -1.52% also weighed on the Dow, with its shares down 1.5% after the oil major reported that its first-quarter earnings rose 0.5%, but revenue fell short of Wall Street estimates.
The Nasdaq Composite Index COMP +0.62% gained 20.33 points, or 0.6%, to close at 3,289.99. The index had reached an intraday high of 3,301.28 earlier. 

Gainers outnumbered advancers by about two to one on the New York Stock Exchange and Nasdaq. NYSE volume topped 746 million shares, while Nasdaq volume topped 470 million shares. NYSE composite volume was above 3.8 billion shares while Nasdaq Composite volume was above 1.9 billion shares by the close. 

Among individual stock movers, Dow Chemical DOW +5.60% shares closed up 5.6% after the company posted a first-quarter profit rise. 

Shares of Zynga ZNGA -6.54% dropped 6.5% after the social-games company swung to a profit but offered a weak forecast. 

The Dow industrials fell on Wednesday, while the S&P 500 erased gains during the last few minutes to close largely flat at 1,578.79. 

The U.S. dollar fell against other major currencies, with the ICE dollar index DXY -0.21% down 0.3% to 82.796. The British pound rallied 1% to $1.5432 after data showed that the U.K. avoided a triple-dip recession. 

Gold futures GCM3 +3.08% rallied to settle up $38.30, or 2.7%, at $1,462.00 an ounce on the New York Mercantile Exchange. 

Wallace Witkowski is a MarketWatch news editor in San Francisco. Follow him on Twitter @wmwitkowski. Polya Lesova is MarketWatch's New York deputy bureau chief. Follow her on Twitter @PolyaLesova.

DealBook P.M. Edition April 25, 2013: System Failure Delays Options Exchange


NYTimes.com Home |Business Day| Video The New York Times


Thursday, April 25, 2013
TOP STORY
System Failure Delays Options Exchange The Chicago Board Options Exchange opened after a delay of several hours on Thursday because of a system failure. By early afternoon, the options exchange, the nation's largest, said all of its systems were operating normally. But brokers who normally trade tens of thousands of options each day through the exchange sat on the sidelines for much of the morning, waiting for updates.
For the latest updates, go to dealbook.nytimes.com »
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DEALBOOK HIGHLIGHTS
Chief of Unit Overseeing Britain's Bailout Investments Resigns Jim O'Neil, who as chief of United Kingdom Financial Investments has been in charge of the British government's stakes in two bailed-out banks, will rejoin Bank of America Merrill Lynch.
K.K.R. Earnings Beat Expectations as Fee Profits Rise Kohlberg Kravis Roberts posted after-tax economic net income of $647.7 million for the first quarter, surpassing analysts' expectations, amid a relatively strong environment for the private equity industry.
Santander Earnings Slump on Weak Economy Banco Santander of Spain said first-quarter net profit fell 26 percent, hurt by continuing troubles in Spain and a slowdown in developing economies.
Breakingviews: Why Alibaba Could Be China's Next $100 Billion I.P.O. John Foley says that a back-of-the-envelope exercise in valuing the Hangzhou-based e-commerce giant should it seek to go public.
LOOKING AHEAD
Economic Reports Data to be released on Friday include first-quarter gross domestic product and the Thomson Reuters/University of Michigan consumer sentiment index for April.
Corporate Earnings Companies scheduled to release quarterly results on Friday include Burger King, Chevron, D.R. Horton, Goodyear Tire and Rubber, WellPoint and Weyerhaeuser.
In the United States On Friday, a House Science subcommittee will conduct a hearing on federal hydraulic fracturing research.
For the latest updates, go to dealbook.nytimes.com »

Quotation of the Day
"The recurrence of technology glitches in markets means we need not blindly accept that the whiz-bang machinery will always work as well as it should have."
Bart Chilton, a regulator at the Commodity Futures Trading Commission, on systems failures that delayed the opening of the Chicago Board Options Exchange.