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May 10, 2013

Carbon Dioxide Level Passes Long-Feared Milestone: The New York Times Global Update May 6, 2013.

The New York Times International Herald Tribune
May 10, 2013
Compiled 20:49 GMT

Global Update

TOP NEWS

Carbon Dioxide Level Passes Long-Feared Milestone

By JUSTIN GILLIS
The amount of the gas in the air has not been this high for at least three million years, and scientists believe the rise portends large changes in the climate and sea level.

Woman Rescued in Bangladesh Rubble 17 Days After Building Collapse

By JULFIKAR ALI MANIK and JIM YARDLEY
Rescuers working amid the rubble of the toppled garment factory on Friday said they spotted a pipe moving and heard a woman shouting, "Save me!"

3 Ultra-Orthodox Men Arrested in Confrontation at Western Wall

By JODI RUDOREN
Thousands of ultra-Orthodox Jews joined a protest at the Jerusalem holy site, creating a standoff with a group of women praying there in garments traditionally worn by men.
Opinion

Op-Ed Contributor

Playing Chinese Chess

By ROBYN MEREDITH
In return for leaning on North Korea, China wants the United States to lean on Japan.
World

Slide Show: Removal of Gravestones Stirs Emotions Among Mexicans

More than 500 urban gravestones have been built in the city of Culiacán over the past five years.
WORLD

In Its Efforts to Integrate Roma, Slovakia Recalls U.S. Struggles

By ANDREW HIGGINS
Eastern Slovakia's elementary schools are a microcosm of one of Europe's biggest challenges: how to bring its most disadvantaged minority into the mainstream.

Benghazi Debate Focuses on Interpretation of Early E-Mail on Attackers

By MARK LANDLER
The intensity of a fight between House Republicans and the Obama administration came down to a single word.

Pakistan Orders Times Reporter to Leave

By RICK GLADSTONE
The New York Times has protested an election-eve expulsion order for Declan Walsh, a veteran correspondent.
BUSINESS
Common Sense

How Cooper Union's Endowment Failed in Its Mission

By JAMES B. STEWART
Cooper Union recently announced that it would begin charging tuition, a decision made after decades of bad financial choices and recent treacherous markets.

Student Debt Slows Growth as Young Spend Less

By ANNIE LOWREY
The anemic economy has left millions struggling to get ahead. Student debt is making it even harder for many of them, as they delay purchases of things like homes and cars.
DealBook

Icahn and Southeastern Ready Rival Bid for Dell

By ANDREW ROSS SORKIN and MICHAEL J. DE LA MERCED
The billionaire Carl C. Icahn and Southeastern Asset Management, two of Dell's biggest shareholders, seek to offer an alternative to a $24.4 billion takeover that they have criticized as "the great giveaway."
TECHNOLOGY

Facebook Said to Be in Talks With Mobile Map Service

By VINDU GOEL
If a deal for Waze is concluded, it would give Facebook the ability to better deliver tailored ads and content to its 1.1 billion users.
You're the Boss Blog

One Social Media Start-Up Rises From the Ashes of Another

By EILENE ZIMMERMAN
When Storably failed, the founders hunkered down and developed 70 other ideas on how to spend money from their investors.
SPORTS

Drummer Keeps the Beat on Another Kind of Track

By BRAD SPURGEON
Q. & A. with Nick Mason, drummer for the British rock band Pink Floyd and longtime auto-racing enthusiast.

From Winter Testing to Spring Race, a Changed Barcelona Circuit

By BRAD SPURGEON
Preseason tests are run there, but track conditions -- including higher temperatures -- present new car-setup challenges for the Spanish Grand Prix.

There's No Clear Path for Racing Drivers on the Way Up

By BRAD SPURGEON
The road to Formula One has become more complicated for today's young drivers, with too little practice time and too many lower series.
U.S. NEWS

Citrus Disease With No Cure Is Ravaging Florida Groves

By LIZETTE ALVAREZ
Efforts to find a way to stop the spread of citrus greening have failed, and the damage is growing increasingly extensive, especially to oranges.

After Plant Explosion, Texas Remains Wary of Regulation

By IAN URBINA, MANNY FERNANDEZ and JOHN SCHWARTZ
Last month's devastating blast in West, Tex., did little to shake local skepticism of government regulations, and recent efforts to push for more oversight have faced strong resistance.

Bombings Make a Bitter Bookend for F.B.I.'s Director

By SHERYL GAY STOLBERG and MICHAEL S. SCHMIDT
As hearings into the Boston bombings begin, the tenure of Robert S. Mueller III is facing new scrutiny, months from his plans to step down.
OPINION
Op-Ed Columnist

Bernanke, Blower of Bubbles?

By PAUL KRUGMAN
With all the talk about financial bubbles lately, do current bond and stock prices make sense?
Op-Ed Columnist

Started at the Bottom

By DAVID BROOKS
Four Hispanic young people peel back the curtain into a different wiring of aspirations and loyalties than those held by the empirical kids I described in March.
Op-Ed Contributor

Elections in a Time of Taliban

By LYSE DOUCET
Pakistan's elections pit youthful hopes and a new star against Taliban threats.

MarketWatch I Wall Street at Close Report May 10, 2013: U.S. stocks rise for third week; records set


By Kate Gibson, MarketWatch 
 
NEW YORK (MarketWatch)U.S. stocks rose Friday as Wall Street racked up a third week of record-setting gains while considering global monetary easing and as finance ministers started a two-day meeting. 

The Dow Jones Industrial Average DJIA +0.24%  added 35.87 points to 15,118.49, its highest close ever. 

Also finishing at an all-time high, the S&P 500 index SPX +0.43%  added 7.03 points to 1,633.70, with health care the best performing and energy the worst performing among its 10 sectors.

Week ahead: Retailers in focus
Next week's economic calendar includes retails sales and retailer earnings reports, plus possible Android news from Google. Polya Lesova joins MoneyBeat. Photo: Getty Images.


“My sense is that we will see some weakness in the very short term, but that weakness will set up the markets for the next push higher, eventually carrying the S&P 500 towards the 1,700 mark by July,” said Jeffrey Saut, chief investment strategist at Raymond James & Associates.
 
Gap Inc. GPS +5.62%  shares gained 5.6% after the clothing retailer projected first-quarter profit above expectations. 

A steep decline in commodity prices slammed shares of energy and natural-resources companies, while the dollar DXY +0.52%  rose to a four-and-a-half-year high against the Japanese yen USDJPY +1.02%

Energy companies including Tesoro Corp. TSO -2.94%  fell as oil prices CLM3 -0.48%  dropped 35 cents to $96.04 a barrel. 

Shares of Hess Corp. HES -2.34% declined 2.3% after the oil-and-gas company said it would strip CEO John Hess of his chairman title after its annual meeting next week. 

The Nasdaq Composite index COMP +0.80% rose 27.41 points to 3,436.58, with the index drawing a lift a day after Nvidia Corp. NVDA +0.07%  and Priceline.com Inc. PCLN +3.78%  reported quarterly profits that beat estimates. 

The benchmark indexes all settled with weekly gains, with the Dow up 1%, the S&P 500 ahead 1.2% and the Nasdaq Composite rising 1.7% from last Friday’s close. 

The rise has short sellers scrambling to cover bearish bets this week on high-profile stocks including Tesla Motors Inc. TSLA -0.10% and Groupon Inc. GRPN -0.16%


Getty Images Enlarge Image
Fed chairman Ben Bernanke.
For every five stocks that fell nine gained on the New York Stock Exchange, where 619 million shares traded.
Composite volume approached 3 billion.


April surplus

On the Comex in New York, gold futures GCM3 -1.49%  retreated $32 to end at $1,436.60 an ounce, leaving them down nearly 2% for the week. 

In its monthly budget statement released Friday afternoon, the Treasury reported the U.S. tallied its largest budget surplus in five years last month, when tax payments come due. 

Treasury prices fell, with the yield on the benchmark 10-year note 10_YEAR +4.91%  used in determining mortgages and other consumer loans rising to 1.899%. 

In Chicago, Federal Reserve Chairman Ben Bernanke detailed efforts to regulate risk in the financial markets. 
 
Speaking at the Chicago Fed’s yearly gathering on bank structure and competition, Bernanke said the U.S. central bank is keeping a close eye on the potential risks that come with interest rates being so low. 

Vietnam and Sri Lanka reduced their interest rates on Friday, the latest such moves by global central banks, according to Bloomberg News. 

On Thursday, U.S. equities tallied mild losses, even as data showed weekly jobless claims at a five-year low and as the dollar USDJPY +1.0029%  surged above 100 Japanese yen for the first time in more than four years. 

The yen’s decline follows recent large stimulus moves by the Bank of Japan, with U.S. Treasury Secretary Jack Lew on Friday telling CNBC that he would tell Japan to play by the rules to avoid competitive devaluations. 

Lew spoke from the sidelines of a two-day meeting of the Group of Seven finance ministers, which started Friday in Britain. 

“Yesterday’s stutter-step seemed to be caused by a sharp reversal in the dollar, which spiked on the upside, combined with a downside reversal on the Treasury bond,” noted Saut. 

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

What Sentiment Says About the Market, Gary Tanashian: MoneyShow Traders Daily Alert May 10, 2013.


Traders Daily Alert

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Today's Featured Videos & Exclusive Interviews

BIV Today's Business News May 10, 2013: Exclusive: Surrey Liberal candidate contesting medical lawsuit



Law

Exclusive: Surrey Liberal candidate contesting medical lawsuit

Dr. Amrik Singh Tung, the BC Liberal candidate in the Surrey-Green Timbers riding, is among four doctors named in a negligence lawsuit ... READ MORE

Economy and Finance

 

Latest B.C. job numbers prompt conflicting party messages

After shedding 15,000 jobs in March, B.C. showed gains in employment in April, Statistics Canada reported today ... READ MORE

 

B.C. First Nations want access to municipal finance authority

Seven First Nations in various stages of self-government are lobbying the provincial government – whomever that may be following next week's ... READ MORE

Forestry

 

Forestry firms must get ready for global lumber supercycle – or miss the boat: PwC

A forestry analyst is warning that companies who can’t adjust quickly to take advantage of surging lumber markets are going to ... READ MORE

More News...

   

Surrey prospector sues for $16m finder’s fee

Teck increases stake in True Gold

Avcorp sees decline in revenue after loss of Cessna contract

This Week's Issue

 

Competitive pulp market prompts partial mill shutdown

Pulp and paper company Domtar (UFS:TSX) says its inability to compete globally with other pulp producers is behind the decision to ... READ MORE

The Conscience of a Liberal Same As They Ever Were, by Paul Krugman: The New York Times I Opinion Today May 10, 2013.

The New York Times

May 10, 2013

Opinion Today

Op-Ed Contributor

The Next Pandemic: Not if, but When

The new, aggressive pathogens in China and Saudi Arabia may or may not carve a deadly path to the West. But sooner or later, you can be sure, one will.
Op-Ed Contributor

The Next Contagion: Closer Than You Think

When public health officials warn about the threat of a new virus, they aren't crying wolf.
The Wilderness Next Door
Opinionator

The Wilderness Next Door

Every region has a Mount St. Helens of its own - something that does not respond to human will, something with the potential to do harm but also bring out the universal Huck Finn.
ADVERTISEMENT
Op-Ed Contributor

How to Heal Balkan Wounds for Good

Minority rights are the key to dissolving the enmity between Serbia and Kosovo.
In the Servants' Quarters
Latitude

In the Servants' Quarters

It's time for Brazil to concern itself with the comfort of the poor.
Exploring Environmental Issues With Students in Japan
Dot Earth Blog

Exploring Environmental Issues With Students in Japan

High school students in Japan discuss journalism and the environment with a blogger in New York.

Editorial

The Republicans' Benghazi Obsession

While they focus on the attack that killed four Americans in September, Libya is unraveling.
Editorial

How to Generate Distrust on Drones

A former administration lawyer says secrecy makes the program seem illegal.
Editorial

The N.L.R.B.'s Contested Poster

A federal appeals court dominated by conservative judges rules against a requirement that employers post notices about union rights.
Editorial Observer

A Sandy Hook Parent Finds His Voice in Moving Beyond 'the Darkest Horror of It All'

Through grief, a father finds a way to make a difference.

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
Does the Pentagon Take Sexual Assault Seriously?
Taking Note

Does the Pentagon Take Sexual Assault Seriously?

It's too hard for victims to get compensation and treatment.
Same As They Ever Were
The Conscience of a Liberal

Same As They Ever Were

When bad things happen to bad people.
The Obligations of Obamacare Opponents
Evaluations

The Obligations of Obamacare Opponents

Do supporters of "repeal and replace" have a moral duty to let Obamacare be implemented?