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Sep 3, 2013

RTAmerica September 03, 2013: AT&T partners with DEA to spy on Americans.

RTAmerica September 3, 2013: Obama woos lawmakers over Syrian strike

House Speaker Backs Obama's Call for Strike Against Syria: NYT | Global Update September 03, 2013.

The New York Times International Herald Tribune
September 3, 2013
Compiled 20:45 GMT

Global Update


House Speaker Backs Obama's Call for Strike Against Syria

Speaker John A. Boehner on Tuesday said he would support President Obama's "call to action," giving him a crucial ally in the quest for votes in the House of Representatives.

Allies' Intelligence on Syria All Points to Assad Forces

The United States and its allies differ on some intelligence estimates when it comes to chemical weapons use in Syria, but all agree that only the Assad government had the means to launch attacks.

Officials Make Case for Strike Before Senate Panel

Two secretaries and the chairman of the Joint Chiefs sought to persuade senators on the Foreign Relations Committee to support military action against Syria.
Fashion & Style

Video: Intersection: Siam Shopping Style

In Bangkok's Siam neighborhood, a choreographer describes a local trend involving contact lenses.

Op-Ed Columnist

Red Lines Matter

The credibility of the U.S. as a global power underwrites the world's security.

Israel and U.S. Conduct Missile Test in Mediterranean

The testing of the Sparrow target missile caused concern in Russia and Syria, given the tensions over a possible American military strike on Syria.

U.N. Chief Reaffirms Opposition to Strike on Syria

Ban Ki-moon, the secretary general, said he welcomed President Obama's efforts to engage Congress but insisted that the Security Council should approve any military action.

Attacks Delayed, Syrians Juggle Anticipation With Attempts at Normalcy

The delay in an expected missile strikes left Syria struggling to return to normalcy, with the military and rebels still bracing and everyone uncertain whether an attack would happen at all.

Microsoft to Buy Nokia Units and Acquire Executive

The $7.2 billion all-cash deal is meant to turn the Finnish mobile phone pioneer into the engine for Microsoft's mobile efforts. Stephen Elop, the former Microsoft executive who was running Nokia, will rejoin Microsoft.

Verizon Seals Long-Sought $130 Billion Deal to Own Wireless Unit

Verizon, which is buying out Vodafone of Britain, views gaining full control of its wireless business as essential to addressing new competition and consumers desire for new services.

Japanese Phone Firm Sees Export Market in Older Users

Fujitsu is pursuing an export push aimed at older consumers, who, the company says, are not always served adequately by mainstream offerings.
Bits Blog

Microsoft-Nokia Could Woo Buyers Trading Up to Smartphones

Microsoft could help Nokia keep customers who are transitioning from lower-end feature phones, rather than let them escape to an Apple iPhone or Google Android ecosystem.
Bits Blog

The End of an Era in Mobile

The introduction of the iPhone was the first blow to Nokia. Then it failed to respond quickly with a comparable product, beginning a slide from which it has been unable to recover.
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For BlackBerry, Bad News in the Microsoft-Nokia Marriage

Now that Microsoft has thrown its financial muscle behind Nokia, BlackBerry is left to find another suitor.

K.H.L., Global Alternative to N.H.L., Extends Its Reach

Despite its turbulent history and uncertain finances, the Kontinental Hockey League, based in Russia, is set to open its sixth season with 28 teams in 8 nations and 9 time zones.

Federer Tumbles to Earliest Exit in 10 Years

Roger Federer, seeded seventh, lost to 19th-seeded Tommy Robredo of Spain, 7-6 (3), 6-3, 6-4, in a fourth-round stunner at Louis Armstrong Stadium.

A Transfer That Will Make or Break Özil's Career

Arsenal finally opened up its purse strings to acquire a top player in Mesut Özil, who will face questions from the start about his endurance in the rough-and-tumble Premier League.

National Gun Debate Hits Close to Home in Colorado Recall Vote

Two recall elections in the state are being watched closely as a litmus test of how voters respond to new measures where gun culture is ingrained.

Big Dreams, but Little Consensus, for a New Detroit

Detroit's bankruptcy gives an American city a rare chance to reinvent itself from top to bottom, but questions about how it should proceed loom as large as the answers.

Recession Reverses California Airport's Growth

Analysts say a change in how airlines operate has also affected business at Ontario International Airport.
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Red Lines Matter

The credibility of the U.S. as a global power underwrites the world's security.
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Traveling Without Seeing

In our digital cocoons, we go everywhere and nowhere.
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Fighting Poverty, and Critics

Jeffrey Sachs is trying to help villages in Africa, but is his work making a difference?

DealBook P.M. Edition September 03, 2013: For Microsoft, Nokia Deal Was Long and Arduous

Tuesday, September 3, 2013
For Microsoft, Nokia Deal Was Long and Arduous The prospect of Nokia shedding its core business - the longtime pride of Finland - weighed heavily on the potential deal.
    White Collar Watch: JPMorgan Case Tests U.S. Law on Buying Influence Abroad The inquiry of JPMorgan's hiring in China will test how broadly the law applies to almost commonplace conduct by firms seeking to win business from foreign governments, says Peter J. Henning.
    Texas Hedge Fund Takes a Big Stake in J.C. Penney J. Kyle Bass, the outspoken Texas hedge fund manager, has accumulated a 5.2 percent stake in J.C. Penney.
    AMC Aims to Raise $400 Million in I.P.O. An initial public offering would be the latest corporate maneuver for AMC Entertainment, the second-largest movie theater owner in North America.
    Datto, a Data Backup Service, Raises $25 Million in Round Led by General Catalyst The financing of Datto, which provides both local and cloud-based data backup, is the latest bet that cloud computing will help transform data backup and recovery.
    Bank of America Seeks Up to $1.5 Billion for China Construction Bank Stake Bank of America is following other Wall Street banks in seeking to cash out of investments in China's sprawling and state-controlled banking industry.
    Former Chinese Railroad Official Indicted on Bribery Charges A former high-ranking Chinese railroad official, whose daughter's employment at JPMorgan Chase is a focus of an antibribery investigation in the United States, has been formally indicted on bribery charges in a Beijing court.
    Breakingviews: AT&T Should Resist Buying Spree Vodafone's sale of its 45 percent stake in Verizon Wireless could tempt AT&T to make a big move overseas now. But the fat margins at home and the perils of cross-border M.&A. make a stronger case for discipline, says Robert Cyran.
    Buzz Tracker
    Eventbrite Strikes First Two Deals, Buying Startups Abroad Eventbrite announced its first-ever acquisitions on Tuesday, months after the online ticketing start-up raised $60 million in venture capital financing from the likes of Tiger Global and T. Rowe Price. The company purchased Lanyrd, a social conference directory based in London, and Eventioz, an Argentine ticketing concern. Terms weren't disclosed
    Jarden Buys Yankee Candle for $1.75 Billion The publicly traded consumer products company whose products include Mr. Coffee and First Alert announced on Tuesday that it would buy Yankee Candle from the private equity firm Madison Dearborn Partners.
    Economic Data Information to be released this week includes the United States trade deficit for July, the Federal Reserve's beige book regional economic report, and the Challenger, Gray & Christmas report on job cuts in August (Wednesday); weekly jobless claims, ADP employment for August, and factory orders for July (Thursday); and the United States unemployment report for August (Friday).
    Corporate Earnings Companies scheduled to report results include Dollar General (Wednesday); Smith & Wesson (Thursday); and Smithfield Foods (Friday).
    In the United States On Wednesday, automakers are scheduled to report on North American vehicle sales in August.
    Overseas On Thursday, the Group of 20 nations will begin its annual two-day conference in St. Petersburg, Russia; and the Bank of England and the European Central Bank will issue decisions on interest rates and monetary policy.
  • DealBook Video
    Ballmer on Microsoft's Nokia Deal Steven A. Ballmer, Microsoft's chief executive, told CNBC that the Nokia deal was incremental to the company's transformation to focus on the Windows phone ecosystem.

Wall Street at Close Report by MarketWatch September 03, 2013: U,S. Stocks Edge up, Syria Neutralizes Data.

U.S. stocks edge up; Syria neutralizes data

By Kate Gibson, MarketWatch 
NEW YORK (MarketWatch) U.S. stocks rose modestly on Tuesday after upbeat data on global manufacturing and as the White House lobbied Congress for a U.S. military response to Syria’s use of chemical weapons. 

Microsoft Corp. MSFT -0.16%  and Verizon Communications Inc. VZ +0.21%  weighed on the Dow Jones Industrial Average following major acquisitions by both industry giants.

“We’re looking at two days of trading wrapped into one. This morning we caught up with what world markets had done in our absence, the pent-up celebration of economic data out of Europe and Asia,” Art Hogan, market strategist at Lazard Capital Markets, said of the morning jump that had the Dow industrials DJIA +0.16%  rising 123 points. 

Microsoft to buy Nokia mobile unit
Paul Vigna joins the News Hub with a look at today's market action, including three stocks to watch. Photo: AP. 

But stock indexes significantly cut their gains as President Barack Obama called for a quick congressional vote on his proposal for limited U.S. military action against Syria. 

The Dow industrials rose 23.65 points, or 0.2%, to 14,833.96. 

Microsoft shares fell 4.6% after the Dow component and software giant agreed to pay $7.2 billion for Nokia Corp.’s NOK +0.20%  main handset business. Nokia’s Stephen Elop will return to the U.S. firm as head of its wireless-devices business amid talk he could replace Microsoft’s retiring CEO Steve Ballmer. Shares of Nokia rallied 31%. 

Verizon fell 2.9% a day after the telecommunications company and Dow component agreed to buy Vodafone Group PLC’s VOD -1.05%   UK:VOD -5.02%  45% stake in Verizon Wireless for $130 billion.

Stephen Elop, CEO of Nokia, (left) and Steve Ballmer, CEO of Microsoft Corp.
Up for a third session in four, the S&P 500 index SPX +0.42%  climbed 6.80 points, or 0.4%, to 1,639.77, with consumer discretionary leading sector gains and telecommunications the poorest performer.
CBS Corp. CBS -0.06%  rallied 4.7% and Time Warner Cable Inc. TWC -0.13%  gained 1.8% after the network and cable operator reached agreement ending a month-long blackout of CBS and other channels in major cities. 

The Nasdaq Composite COMP +0.63%  added 22.74 points, or 0.6%, to 3,612.61.
For every seven shares falling, roughly eight gained on the New York Stock Exchange, where nearly 781 million shares traded. 

Composite volume approached 3.7 billion. Read how trading volume has fallen to a 15-year low.
The yield on the 10-year Treasury note 10_YEAR +0.04% used in determining mortgage rates and other consumer loans rose 7 basis points to 2.856%. 

The dollar DXY +0.09%  gained against the currencies of major U.S. trading partners, excluding the yen USDJPY +0.01%  but not the euro EURUSD +0.01%

On the New York Mercantile Exchange, crude futures CLV3 +0.73%  rose 89 cents, or 0.8%, to $108.54 a barrel and gold futures CLV3 +0.73% rose $15.90, or 1.1%, to $1,412 an ounce, settling higher for the first trading session in four. 

On Capitol Hill, Secretary of State John Kerry and Defense Secretary Chuck Hagel testified before a Senate Committee hearing on Syria. 

“In general, markets go down until the missiles fly and then rebound,” noted Hogan from Lazard Capital Markets. 

“We’re more worried about Syria. The markets reacted very well to economic data out of China and Europe over the weekend and yesterday, and our data was pretty good as well, but it looks like we started fading from early gains as Obama was talking about his goals for Syria,” said Paul Nolte, managing director at Dearborn Partners. 

“It hasn’t gone well for us in that region,” said Nolte of U.S. military intervention in the Middle East.
Speaking Tuesday during a meeting with congressional leaders at the White House, Obama called on lawmakers to promptly weigh in on a U.S. response to Syria’s use of chemical weapons that killed more than 1,400 civilians last month. House Speaker John Boehner voiced support for Obama’s request, with the Ohio Republican saying “the use of these weapons has to be responded to and only the U.S. has the capability.” 

The debate over the U.S. response to the attack in a Damascus suburb two weeks ago overshadowed better-than-expected economic reports. 

The Institute for Supply Management’s manufacturing index rose to 55.7 in August from 55.4, illustrating its most rapid expansion in more than two years.
A separate report had construction spending rising 0.6% in July, with both better than expected.
“We’re looking at an economy that is continuing to do reasonably well, and it looks as though we’ll see tapering with the September meeting,” said Nolte of the Federal Open Market Committee gathering on Sept. 17-18. 

Thoughts of the Federal Reserve scaling back its $85 billion in monthly bond purchases “is still causing stocks to be volatile, and certainly bonds are, but as we go through time, stock investors are getting more comfortable with it,” Nolte added. 

Global stocks climbed on Monday, a U.S. holiday, after reports had Chinese manufacturing rising in August and euro-area factory production expanding at a more rapid pace than first estimated in August. 

Wall Street on Friday capped its worst month since May 2012 as investors considered a possible U.S. strike against Syria. 

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

Wall Street at Close Report by CNBC September 03, 2013: Stocks eke out gains, but Syria worries weigh; Microsoft slumps, Nokia Surges.

Stocks eke out gains, but Syria worries weigh; Microsoft slumps, Nokia surges

Stocks finished the first trading session of September in the black, thanks to a handful of upbeat economic reports, but ongoing worries over Syria kept a lid on gains.
"The possible escalation of unrest in Syria adds uncertainty to a short-term investment outlook already muddied by talk of a shift in Fed policy and turmoil in Egypt," wrote Sameer Samana, international strategist at Wells Fargo Advisors. "Along with the Federal Reserve's stated intention to start tapering bond purchases in the near future, this additional headwind may lead markets to tread water in the near-term."
 (Read more: Watch Art Cashin: Two reasons stocks faltered)
Name Price Change %Change
DJIA Dow Jones Industrial Average 14833.96
23.65 0.16%
SandP 500 S&P 500 Index 1639.77
6.80 0.42%
NASDAQ Nasdaq Composite Index 3612.61
22.74 0.63%

The Dow Jones Industrial Average squeezed out a small gain, led by United Technologies. Earlier, the Dow component rallied more than 120 points before reversing its gains. Microsoft led the laggards. The blue-chip index swung in a wide 155-point range.
The SandP 500 and the Nasdaq also ended in positive territory. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 17.
Among key SandP sectors, consumer discretionary and financials closed higher, while telecoms lagged.
(Read more: As markets fall, investors run ... toward risk?)
Marc Faber: Why a correction is coming soon
Find out why Marc Faber thinks the S&P is about to correct, with CNBC's Jackie DeAngelis and the Futures Now Traders.
"The market got oversold last week and it needs to rally back some, but we won't see any gains as long as we have this overhang of military action," said Keith Bliss, senior vice president at Cuttone & Co. During a meeting with congressional leaders at the White House, President Barack Obama called for a prompt vote on Capitol Hill and reiterated that the U.S. plan would be limited in scope and not repeat the long wars in Iraq and Afghanistan. House Speaker John Boehner said he would support Obama's call for military action in Syria and urged his colleagues in Congress to do the same. Stocks came off their highs in midday trading after Boehner's remarks. Nancy Pelosi, Democratic leader in the House of Representatives, said she believes Congress will support a resolution authorizing the use of U.S. military force against Syria. (Read more: If US bombs Syria,here's how high oil could go) Meanwhile, a Russian news agency reports that two "ballistic objects" had been launched towards the eastern Mediterranean revived concerns about a U.S.-led strike on Syria. Israel's Ministry of Defense confirmed that Israeli forces and the U.S. Missile Defense Agency had carried out a missile test and said Israel would release further information about the launch soon. Apple gained after the tech giant issued an official invitation for an event on Sept. 10. Analyst widely expect the company to unveil a new iPhone. On the M&A front, Verizon announced on Monday it will pay $130 billion to acquire Vodafone's 45-percent stake in their Verizon Wireless joint venture, marking the third-largest deal in corporate history. Vodafone's CEO told CNBC that he will use the cash earned from the deal to accelerate investment in Vodafone's own wireless networks, and to return $84 billion in cash and shares to shareholders. (Read more: Vodafone CEO: We will spend cash pile on our networks) "We are fortunate enough that the size of the deal itself allows us to return a large percentage to shareholders. But even the remaining 21 percent is large enough to strengthen the company and to allow us to accelerate our strategy," CEO Vittorio Colao said.
Microsoft said it will buy Nokia's handset business for $7.2 billion. Nokia CEO Stephen Elop, a former Microsoft executive, will rejoin the company and is now seen by some as a candidate to replace retiring CEO Steve Ballmer. Meanwhile, Time Warner Cable and CBS reached and agreement Monday, ending a month-long blackout, returning the broadcast network's programming to millions of subscribers in Los Angeles, New York and Dallas. CBS rallied to lead the S&P 500 gainers.  (Read more: Who really won the CBS-Time Warner Cable standoff) On the economic front, the manufacturing sector grew last month to 55.7 in August, its fastest pace in more than two years, according to the Institute for Supply Management. A reading above 50 indicates expansion in the sector. And construction spending gained 0.6 percent to an annual rate of $901 billion, according to the Commerce Department, topping expectations for a gain of 0.3 percent. The Japanese Nikkei led Asian stocks higher, after better-than-expected manufacturing data from Europe and China lifted hopes that a global economic recovery was in progress. Data out on Monday showed Chinese manufacturing hit a four-month high in August and euro zone factory activity rose at its fastest pace since May 2011. On Tuesday, data revealed that the U.K.'s construction sector expanded at its fastest pace in almost six years in August.
By CNBC's JeeYeon Park (Follow JeeYeon on Twitter:

NYT | Opinion Today September 3, 2013: Debating the Case for Force September 03, 2013

The New York Times

September 3, 2013

Opinion Today


'No Ordinary Passenger'

Stan Dibben, a winner of the World Sidecar Championship in 1953, recounts the thrills and perils of his profession.
Op-Ed Contributors

How a Cabal Keeps Generics Scarce

The critical shortage of generic drugs continues unabated.
How to Make New York City More Livable
Room for Debate

How to Make New York City More Livable

Electricity, flooding, waste management, housing, rezoning, development. Where should the next mayor of New York start?
Opinionator | Draft

My Filthy Secret

I was allegedly a novelist, a crime writer, no less, but I couldn't make stuff up.
Women in Philosophy? Do the Math
Opinionator | The Stone

Women in Philosophy? Do the Math

We don't need harassment to keep women and minorities from succeeding in philosophy - alienation, bias and outright discrimination will do the job.
Opinionator | The Great Divide

Who Will Prosper in the New World

Who will prosper in the new, increasingly automated world?

Debating the Case for Force

President Obama needs to explain why limited military strikes against Syria would be effective.

The Storm on New York's Horizon

In the race to succeed Mayor Bloomberg, the campaigns seem to be avoiding any talk of unpleasant budgetary realities.
Editorial | The Rural Life

Empty Barn-Rafters

The swallows have moved on yet again. How did they know it was time to leave?

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
Nicholas D. Kristof Blog

How a Bookworm Broke a Hiking Record

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Joe Nocera Blog

The Gun Report: Labor Day Weekend Edition

A weekend in the life of armed America.
Frenzied but Steadfast

Frenzied but Steadfast

If last week Israelis seemed panicky, this week they seem dissatisfied that military action against Syria has been postponed.