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Aug 5, 2013

Qaeda Leader's Edict to Yemen Affiliate Is Said to Prompt Alert: NYT | International Herald Tribune Global Update Ausgust 05, 2013.

August 5, 2013
Compiled 20:45 GMT

Global Update




TOP NEWS

Qaeda Leader's Edict to Yemen Affiliate Is Said to Prompt Alert

By ERIC SCHMITT and MARK MAZZETTI
The head of Al Qaeda in Pakistan ordered the leader of its affiliate in Yemen to carry out an attack as early as this past Sunday, according to American officials.

Turkish Court Hands Down Sentences in Coup Plot

By SEBNEM ARSU
A local court sentenced 10 defendants, including a former army chief of staff, to life in prison for their role in plotting to overthrow Prime Minister Recep Tayyip Erdogan.
Listening Post

U.S. Trade Suffers, Envoys Say, for Want of Jet Fare

By MARK LANDLER
Trade negotiators fly hundreds of thousands of miles just doing their jobs, meaning that a cut of $5 million could effectively ground much of its 250-person work force.
Science

Video: A Year on Mars

One year ago, the rover's arrival on Mars ushered in a new era of exploration. Since then, it has been inching toward a mountain that could yield fascinating insights.
Opinion

Op-Ed Columnist

The Euro's Morality Lesson

By ROGER COHEN
Of little Greek envelopes, German moral philosophy and the currency that tried to bridge them.
WORLD

In a West Bank Culture of Conflict, Boys Wield the Weapon at Hand

By JODI RUDOREN
For Palestinian young men and boys, throwing stones at Israeli soldiers and settlers is a rite of passage.

Israeli Decree on West Bank Settlements Will Harm Peace Talks, Palestinians Say

By JODI RUDOREN
The decision involving the settlements highlighted the fragility of the Washington-brokered effort to resume peace negotiations.

Former Envoy to Syria Said to Be Choice for Cairo Post

By MICHAEL R. GORDON
Secretary of State John Kerry recommended Robert S. Ford, who most recently served as a link to the Syrian opposition in the civil war, officials said.
BUSINESS

In Germany, Union Culture Clashes With Amazon's Labor Practices

By NICK WINGFIELD and MELISSA EDDY
Unions say the company has imported American-style business practices that stand at odds with European norms.
DealBook

Hedge Fund Urges EADS to Sell Dassault Stake

By NICOLA CLARK
EADS, the parent company of Airbus, confirmed Monday that it had received a letter from London-based TCI urging it to sell its 46 percent stake in Dassault Aviation.
TECHNOLOGY

New Zealand Dairy Giant Apologizes Over Tainted Formula

By JONATHAN HUTCHISON
Executives at the company, Fonterra, stressed that the source of contaminated batches of a milk formula ingredient with a strain of bacteria that can cause botulism had been fixed.

Federal Regulator Seeks $28 Million Fine From BP Over Market Manipulation Claim

By REUTERS
The Federal Energy Regulatory Commission on Monday ordered BP to respond to allegations of natural gas market manipulation.
SPORTS

M.L.B. Suspends Rodriguez and 12 Others for Doping

By STEVE EDER
Yankees star Alex Rodriguez is suspended through the 2014 season, pending a possible appeal, while the others accept 50-game bans to end their seasons.

Filling In the Details of Rodriguez's Suspension

By DAVID WALDSTEIN
Some questions, and answers, about the status of Yankees third baseman Alex Rodriguez, who was suspended by Major League Baseball on Monday.
U.S. NEWS

Hog Farms Battling to Contain Deadly Virus

By STEVEN YACCINO
A virus deadly only to young pigs, with no danger for humans, appeared in the United States last spring in Ohio and in weeks had spread to four other states.

Victims to Again Face Gunman in Fort Hood Trial

By MANNY FERNANDEZ
Staff Sgt. Alonzo M. Lunsford Jr., who was shot seven times by Maj. Nidal Malik Hasan during an attack at the Fort Hood Army base in 2009, will confront his attacker during his testimony.
OPINION
Op-Ed Columnist

Republicans Against Reality

By PAUL KRUGMAN
The party has fallen victim to its own big con.
Editorial

Mixed Blessings

By THE EDITORIAL BOARD
Early detection of cancer helps some patients but not others.
Op-Ed Contributor

The Price of 'Made in China'

By PETER NAVARRO
Products manufactured in China and purchased in the United States steal American jobs and harm the environment, among other hidden costs.

The Economist New Selected Articles August 05, 2013:



Monday August 5th 2013 Editor's picks
A selection of new stories from Economist.com
Schumpeter: Well oiled
Prospero: Not ticking


Baobab:
A tarnished victory
Western governments cast doubt on Robert Mugabe's win
READ MORE »
Analects:
City chickens and country eggs
There is a link between urbanisation and growth, no doubt. But which causes which? And does it matter?
READ MORE »
Schumpeter:
Well oiled
Italy is less exposed to flighty capital than before, but the
sheer scale of it debt remains daunting
READ MORE »
Erasmus:
Ancient after all?
A strange turn in a highly sensitive court case over a contested object
READ MORE »
Prospero:
Not ticking
An unusual clock from Conrad Shawcross, a British sculptor, goes on display in London
READ MORE »

Click Here!

The Next Big Biotech Bull Market?: MoneyShow Investors Daily Alert Ausguts 5, 2013.


INVESTORS DAILY ALERT
The Daily Guru
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
GURUS' VIEWS & STRATEGIES
CHARTS IN PLAY
IDEAS FROM AROUND THE WORLD
Today's Featured Videos

U.S. stocks end mostly lower; Nasdaq gains: Wall Street at Close Report by MarketWatch August 05, 2013.

U.S. stocks end mostly lower; Nasdaq gains


By Kate Gibson, MarketWatch 
 
NEW YORK (MarketWatch) U.S. stocks mostly fell on Monday, with benchmark index pulling away from record highs, as Wall Street considered a report indicating better-than-expected growth in the service sector and a Fed official’s remarks that the central bank is closer to curbing its asset purchases. 

Equities are “due for a pause or a period of consolidation, as we digest recent gains and as we gain visibility into upcoming headwinds,” said Terry Sandven, chief equities strategist at U.S. Bank Wealth Management. 

Fed Bank of Dallas President Richard Fisher, one of the more ardent critics of quantitative easing, told an audience in Portland, Ore., that investors should not count on the Fed to continue its $85 billion in monthly bond purchases indefinitely. 

“Fed officials are reporting what we already know, that they are entertaining when to ease quantitative easing,” said Sandven. 

Fisher’s speech followed an upbeat report on U.S. service industries in July. The Institute for Supply Management’s nonmanufacturing index jumped to 56.0% in July from 52.2% the prior month.
“The economy in general continues to show pockets of strength,” and the services index at a five-month high, along with last week’s manufacturing reading, “suggest we are seeing improving conditions,” offered Sandven. 

Recouping from what began as a 73.53-point fall from Friday’s record finish, the Dow Jones Industrial Average DJIA -0.30%  lost 46.23 points, or 0.3%, to 15,612.13. United Technologies Corp. UTX -1.05%   paced the losses that included two thirds of the index’s 30 components. 


Veto of Apple ruling likely to upend big patent battles

The Obama administration's decision to overturn an international trade ruling against Apple promises to upend long-running battles over intellectual property in the smartphone market. Brent Kendall has more. Photo: Getty Images. 

The S&P 500 index SPX -0.15% shed 2.53 points, or 0.2%, to 1,707.14. Utilities and industrials paced sector declines, while technology and consumer staples performed the best among the index’s 10 major industry groups. 

Cliffs Natural Resources Inc. CLF +2.04%  rose 2% after the mining company late Friday said it had reached a tentative deal with the United Steelworkers Union on a three-year labor contract covering about 300 workers at its Bloom Lake mine in Fermont, Quebec. 

Tyson Foods Inc.’s TSN +4.14%  shares jumped 4.1% after the meat processor reported third-quarter profit that exceeded Wall Street’s expectations and projected 2014 sales above estimates.
Fossil Group Inc. FOSL -6.04%  fell 6% after Barclays downgraded the fashion-accessories maker to underweight from equal weight. 

Qualcomm Inc. QCOM -0.75% retreated 0.8% after Piper Jaffray Cos. downgraded the supplier of semiconductors for mobile phones to neutral from overweight. 

Facebook Inc. FB +0.11%  climbed 3% after Piper Jaffray hiked its price target for shares of the social-networking company to $46 from $38. 

The Nasdaq Composite COMP +0.09% added 3.36 points, or nearly 0.1%, to 3,692.95. 

For every two shares gaining, roughly three fell on the New York Stock Exchange, where almost 533 million issues exchanged hands. Composite volume surpassed 2.5 billion.

Fed fodder

Fisher “has a tendency to be a little less dovish than [Federal Reserve Chairman Ben] Bernanke,” Randy Frederick, managing director of active trading and derivatives at Charles Schwab, said, tongue-in-cheek, of Fisher, after the central banker’s comments Monday. 

Fisher’s remarks “could create another bit of angst among people concerned about tapering,” Frederick added of the continuing debate over the timing and pace of possible reductions in the Fed’s $85 billion in monthly bond purchases. 

The dollar DXY -0.10%  edged higher against the currencies of major U.S. trading partners and the yield on the 10-year Treasury note 10_YEAR +0.19%  climbed 4 basis points to 2.642%. 

Crude-oil futures CLU3 -0.47%  declined 38 cents, or 0.4%, to $106.56 a barrel and gold futures GCZ3 -0.56%  slipped $8.10, or 0.6%, to finish the session at $1,302.40 an ounce on the New York Mercantile Exchange. 

Ahead of Monday’s open, Hub International Ltd., a global insurance brokerage, said it would be acquired by funds advised by private-equity investment firm Hellman & Friedman LLC in a deal valued at $4.4 billion. Read announcement

Wall Street on Friday had the Dow industrials and S&P 500 hitting record-high closes as bonds rallied and the dollar fell. 
 
Kate Gibson is a reporter for MarketWatch, based in New York.

Dow, S&P 500 pull back from record highs; Apple ends higher: Wall Street at Close Report by CNBC August 05, 2013.


Dow, S&P 500 pull back from record highs; Apple ends higher

Stocks finished in negative territory in thin trading Monday, with the Dow and S&P 500 retreating from all-time highs, as investors looked for catalysts to further propel the recent market gains.
(Read more: After-hours buzz: American Eagle, Washington Post, DSW & More)
Name Price Change %Change
DJIA Dow Jones Industrial Average 15612.13
-46.23 -0.30%
S&P 500 S&P 500 Index 1707.14
-2.53 -0.15%
NASDAQ Nasdaq Composite Index 3692.95
3.36 0.09%

The Dow Jones Industrial Average declined 46.23 points to close at 15,612.13, dragged by Travelers and United Technologies. The blue-chip index traded in a narrow 70-point range all day, but had its worst decline in over a month.

The S&P 500 slipped 2.53 points to end at 1,707.14. The Nasdaq eked out a small gain of 3.36 points to finish at 3,692.95. The Nasdaq briefly hit a fresh 13-year high earlier in the session. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slipped below 12.
Most key S&P sectors closed lower, dragged by energy and utilities.

(Read more: Retail investorsmost bearish in 7 months: TD Ameritrade)

SandP on the road to 2,000: Strategist
Large amounts of money shifting from fixed-income investments into the stock market means the bull market has a lot more upside, Craig Johnson of Piper Jaffray says.
On the economic front, the pace of growth in the U.S. services sector accelerated in July, picking up from a three-year low as new orders surged to their highest level in five months, an industry report showed on Monday. The Institute for Supply Management (ISM) said its services index rose to 56 from 52.2 in June, easily topping economists' expectations for 53. A reading above 50 indicates expansion in the sector.   Meanwhile, Dallas Fed President Richard Fisher said the Federal Reserve is closer to winding down its $85 billion-a-month asset-purchase program following the July employment data, adding that the central bank does not seem to have achieved much in terms of job creation with the QE program. Last week's closely-awaited U.S. jobs number came in worse-than-expected, with 162,000 non-farm payroll jobs created in July, down from 188,000 in June. Still, Wall Street ended modestly higher, with the S&P 500 and Dow hitting new closing highs. (Read more: Jobs numbers miss the real story)
Apple gained to a four-month high after the Obama administration overturned an international trade ruling that said some sales of older iPhones and iPads should be banned because they infringe a Samsung Electronics patent. The iPhone maker's stock is up more than 20 percent from its 52-week low of $385 in April. (Read more: Ban on sales of certain Apple products overturned) Facebook continued to trade higher after the social-networking giant closed above its IPO price of $38 a share last week for the first time it went public. Piper Jaffray raised its target price on the company to $46 from $38. (Read more: What to do with Facebook stock amid mobile gains) Among earnings, Tyson Foods rallied after the meat processor blew past earnings expectations, as strong demand for chicken and beef more than made up for a drop in sales of pork. In addition, the company said it sees 2014 sales above average analyst forecasts. Warren Buffett's Berkshire Hathaway edged higher after the company said second-quarter profit rose 46 percent. At least three brokerages raised their price targets on the firm. High-profile companies scheduled to post earnings this week include Disney, Time Warner, Tesla Motors, Dean Foods and Priceline.com. So far, nearly 80 percent of the S&P 500 companies have reported second-quarter results, with 68 percent topping earnings expectations and 55 percent beat revenue estimates, according to the latest data from Thomson Reuters. If all remaining companies report earnings in line with estimates, earnings will be up 4.2 percent from last year's second quarter. In Asia, Japan's Nikkei index skidded 1.4 percent on Monday, while Australia's S&P ASX 200 hovered around 5,110 points in cautious trade and South Korea's Kospi ended below 1,920 points. However, the Shanghai Composite bucked the trend, hitting a new two-week high, after positive services sector data was released over the weekend. The non-manufacturing purchasing managers' index (PMI) rose to 54.1 in July, well above the key 50-level that demarcates expansion from contraction. (Read more: This week in Asia, watch China data and central banks)
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter:

The Conscience of a Liberal Nate Silver, Superstar by Paul Krugman: NYT | Opinion Today August 05, 2013.

August 5, 2013

Opinion Today



Op-Ed Contributor

End of Life, at Birth

By APRIL R. DWORETZ
Parents at risk of having preterm or disabled babies need guidance.
The demolition of the old Port Clinton Middle and Jefferson Elementary Schools in Port Clinton, Ohio.
Opinionator | The Great Divide

Crumbling American Dreams

By ROBERT D. PUTNAM
The deepest ro0t of the crumbling of the American dream is our shriveled sense of "we."
Op-Ed Contributor

The Price of 'Made in China'

By PETER NAVARRO
Products manufactured in China and purchased in the United States steal American jobs and harm the environment, among other hidden costs.
Op-Ed Contributors

A Plan to Avert the Pension Crisis

By RICHARD J. RIORDAN and TIM RUTTEN
Washington should create a public employee pension reform program that serves as an insurance agency.
Opinionator | The Stone

Born Again in a Second Language

By COSTICA BRADATAN
To abandon your native tongue and adopt another is to dismantle yourself, piece by piece, and then to put yourself together again in a different form.
When to Burst Your Friend's Bubble
Room for Debate

When to Burst Your Friend's Bubble

Huma Abedin's friends aren't the only ones who face this situation: Should you speak up when you disapprove of a friend's romantic choices?
The Tyranny of the Minority
Latitude

The Tyranny of the Minority

By SHMUEL ROSNER
A small change to Israel's electoral rules may transform its political life.
ADVERTISEMENT
Editorial

Mixed Blessings

By THE EDITORIAL BOARD
Early detection of cancer helps some patients but not others.
Editorial

The Long Stall

By THE EDITORIAL BOARD
The economy is still years away from a strong recovery.
Editorial

Florida Ignores the Supreme Court

By THE EDITORIAL BOARD
If a state chooses to put a man to death, it should at the very least adhere to the Constitution.
Editorial

Teachers' Union v. City Hall

By THE EDITORIAL BOARD
A suit over a plan to open new schools is the union's way of sending a message to the next mayor of New York.

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
East Midtown Rezoning: Still a Bad Idea
Taking Note

East Midtown Rezoning: Still a Bad Idea

By ELEANOR RANDOLPH
Scott Stringer offered his "conditional approval" of the plan - a disappointment for many New Yorkers.
Nate Silver, Superstar
The Conscience of a Liberal

Nate Silver, Superstar

By PAUL KRUGMAN
Cutting out the middleman is problematic.
Joe Nocera Blog

Weekend Gun Report: August 2-4, 2013

By JENNIFER MASCIA
A weekend in the life of armed America.