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Sep 9, 2013

NYT | Global Update September 09, 2013: Kerry Floats a Deal on Arms, and Russia and Syria Seize It

The New York Times International Herald Tribune
September 9, 2013
Compiled 20:45 GMT

Global Update


Kerry Floats a Deal on Arms, and Russia and Syria Seize It

The Russian reaction to Secretary of State John Kerry's suggestion that Syria surrender its chemical munitions appeared to represent a possible point of agreement.

On Syria, a Sharp Test of Democrats' Loyalty to Pelosi

In a chamber where her party is in the minority, Representative Nancy Pelosi is charged with rounding up votes for a measure opposed by most Americans.

U.N. Rights Chief Urges Negotiations to Halt Syria Violence

Navi Pillay said Monday that a military strike against the regime could ignite a regional confrontation.

Video: Urban, but Left Behind

In China, the timeline of the massive migration of 250 million rural residents into cities by 2025 is so rapid and far-reaching, there are concerns that some people will be left behind.

Rouhani's New Year

Hold the threats and explore the new Iranian president's opening.
News Analysis

Kerry's Comments on Syria Mark a Shift Over Strike

The secretary of state dangled the idea that Syria could avoid military action for the first time, though he was skeptical it could work.

Obama Tests Limits of Power in Syrian Conflict

President Obama's approach to Syria is likely to create an important precedent in the often murky legal question of when presidents or nations may lawfully use military force.

On Both Sides, Syrians Make Pleas to U.S.

As lawmakers prepare to debate a strike on the Assad government, Syrians on both sides of the issue work to influence Congress and the American public.
Leaving the Land

Picking Death Over Eviction

Some farmers commit suicide to protest eviction, a reminder of how China's new urbanization push is at times a violent struggle with a powerful state.

Glaxo to Sell Drink Brands for $2.1 Billion

The British pharmaceutical giant has agreed to sell two soft drink brands, Lucozade and Ribena, to Suntory Beverage and Food of Japan for £1.35 billion, or $2.1 billion.

Apple Is Set to Announce Two iPhones

One iPhone will feature a faster processor, and the other will be a less expensive model in a variety of colors aimed at markets like China and India.

A Quest to Save AM Before It's Lost in the Static

Already ailing, AM radio now is plagued by a new threat: rising interference from smartphones and consumer electronics that reduce many stations to little more than static.

Apple's Next Unveiling Could Make or Break a Business

The annual iPhone unveilings draw fans, entrepreneurs and technology executives who are praying that a new function does not make their company obsolete.

Worries That Microsoft Is Growing Too Tricky to Manage

Many feel that a more focused, nimble collection of mini-Microsofts could respond more effectively to the never-ending flow of disruptive technologies nibbling at its foundations.

Shots Fired to the Body Often Engender Shrugs Instead of Spats

Body shots have long been a common practice in tennis. But they seem to have become more controversial or at least more commented upon lately.

Unrest Behind the Dream Car

With the approach of the Monza race, Ferrari officials acknowledge, there has been the annual round of fractiousness among engineers, racing team officials and executives.
Soccer Roundup

Mexico's Coach Is Fired After Home Loss to Honduras

Mexico fired the coach of its national soccer team after Friday night's home loss to Honduras in World Cup qualifying.

In South Florida, a Polluted Bubble Ready to Burst

With heavy rain driving waters from Lake Okeechobee to estuaries in the east and west, devastating wildlife, officials are looking for solutions.

Immigration Reform Falls to the Back of the Line

With the Syria debate and the budget crowding the House agenda, any action on a bill overhauling the immigration system may be delayed until well into 2014.

Zimmerman's Wife: He Threatened With Gun

George Zimmerman's wife says on a 911 call that her estranged husband punched her father in the nose, grabbed an iPad out of her hand and smashed it and threatened them both with a gun.

India in Reverse

The country needs decisive reforms to revive growth, control inflation and support the rupee.
Op-Ed Columnist

Our New Isolationism

How does a president sell foreign involvement to a gun-shy public?

BIV Today's Business News September 09, 2013: Bitcoin ATM coming to Vancouver

Economy and Finance

Bitcoin ATM coming to Vancouver

A Vancouver store that deals in Bitcoin has ordered a kiosk that can allow users to buy, sell and redeem the digital currency ... READ MORE


Northern B.C.
business partnership procurement database launched

An online procurement database has been launched to help companies find industrial business partners in ... READ MORE



Arts Club sues sprinkler inspectors for flooding theatre

The Arts Club Theatre Society is suing a numbered company that does business as Vancouver Fire & Safety for allegedly causing a flood in ... READ MORE

Politics and Policy


Metro Vancouver in limbo over garbage proposal

Metro Vancouver's garbage and recycling committee narrowly defeated a proposal September 5 that the B.C. Chamber of Commerce feared would ... READ MORE

More News...


Ritchie Bros. has second record-breaking auction in two weeks

B.C. building permits decline in July: StatsCan

Finance committee announces public consultations for 2014 budget

This Week's Issue


New Prosperity, same Taseko, First Nations dispute

The fate of Taseko Mines’ (TSX:TKO) controversial New Prosperity project is now in the hands of the federal government and its review panel after ... READ MORE

DealBook P.M. Edition September 9, 2013: Icahn Calls Off Fight Over Dell's Sale.

Monday, September 9, 2013
Icahn Calls Off Fight Over Dell's Sale After months of fighting and a seemingly inexhaustible stream of sharp-tongued letters, Carl C. Icahn is ending his battle against Dell's proposed sale to its founder.
Breakingviews: The Tweet Goes On for Icahn Carl Icahn conceded defeat on Dell, but he has had better luck with Apple, says Richard Beales.
China Insider: Market Rebound in China Shows Beijing's Resolve Those predicting a sharp slowdown in China a couple of months ago appear to have underestimated the central government's determination to keep things on track, says Bill Bishop.
White Collar Watch: S.&P.'s Counterattack on the Government In its defense against a Justice Department lawsuit, Standard & Poor's argues that it was improperly targeted because it lowered the credit rating on federal debt two years ago. How far it will get with that argument is an open question, says Peter J. Henning.
At Goldman, a Paycheck No Longer Equals an Account For years, employees at Goldman Sachs automatically received a brokerage account. But in recent months, the firm has notified several employees, most of whom have assets valued at less than $1 million, that their accounts are being transferred to Fidelity.
Neiman Marcus operates 79 stores across the country.
Neiman Marcus Is Sold for $6 Billion The owners of the luxury retail chain agreed on Monday to sell it to a group led by Ares Management and a Canadian pension plan.
JPMorgan Chase Picks 2 for Board Seats JPMorgan Chase said its board intended to elect two new directors: Linda B. Bammann, who was deputy head of risk management at JPMorgan until her retirement in 2005, and Michael A. Neal, former chairman and chief executive of GE Capital.
Koch Industries to Buy Molex for $7.2 Billion The deal for Molex, a maker of electronic connectors, is one of the biggest-ever acquisitions by the giant privately held conglomerate.
KPN said the resignation of its chief financial officer, Eric Hageman, was due to personal circumstances.
Finance Chief Steps Down at KPN Royal KPN, the Dutch telecommunications company, said on Monday that its chief financial officer had resigned but that the move was not related to a takeover attempt by América Móvil.
Chinese Dairy Firm Plans $1.3 Billion I.P.O. China Huishan Dairy will test investors' appetite with its plans for a new share sale in Hong Kong, where the market for I.P.O.s has been weak since June, when several deals were shelved or sharply reduced in size.
Glaxo to Sell Drink Brands for $2.1 Billion The British pharmaceutical giant has agreed to sell two soft drink brands, Lucozade and Ribena, to Suntory Beverage and Food of Japan for £1.35 billion, or $2.1 billion.
Swedish Tissue Maker Bids $1.1 Billion for Chinese Peer Sweden's SCA Group offered to pay $1.1 billion on Monday for all of the shares in the Chinese paper hygiene products company Vinda International that it did not already own.
Buzz Tracker
Western Digital to Buy Virident Systems The maker of hard drive, said on Monday that it would buy a maker of flash memory for servers for $685 million in cash.
SunEdison Seeks to Spin Off Chip Unit The solar power company filed to spin off its semiconductor unit, SunEdison Semiconductor, through an initial public offering of up to $250 million.
Economic Reports Data to be released includes the National Federation of Independent Business Small Business Optimism report for August (Tuesday); wholesale inventories for July (Wednesday); weekly initial jobless claims and the import price index for August (Thursday); and the producer price index for August, retail sales for August, and the Thomson Reuters/University of Michigan preliminary consumer sentiment index for September (Friday).
Corporate Earnings Companies scheduled to release quarterly results include Restoration Hardware (Tuesday); Vera Bradley (Wednesday); Kroger (Thursday); and Pier 1 Imports (Friday).
In the United States Apple on Tuesday is expected to introduce the latest models of its iPhone at its headquarters in Cupertino, Calif. On Thursday, Dell shareholders are set to vote on the sweetened $13.88-a-share buyout offer by the company's founder, Michael S. Dell, left, and Silver Lake Partners.
Overseas The 65th Frankfurt International Motor Show opens Tuesday. On Thursday, Mario Draghi, the president of the European Central Bank, will speak at a conference in Latvia, while the Bank of England governor, Mark J. Carney, will testify about monetary policy that day at a parliamentary hearing. On Friday, the European Union finance ministers will gather in Vilnius, Lithuania, to discuss a proposal to build a banking union. 
Quotation of the Day
"The Dell board, like so many boards in this country, reminds me of Clark Gable's last words in 'Gone with the Wind,' they simply 'don't give a damn.'"
Carl Icahn ended his battle against Dell's proposed sale to its founder with a sharp-tongued letter.

MarketWatch | Wall Street at Close Report September 09, 2013.

U.S. stocks jump; Dow has best day in 8 weeks

By Kate Gibson, MarketWatch 
NEW YORK (MarketWatch)U.S. stocks climbed on Monday, with the S&P 500 extending its longest win streak since July, after Chinese exports beat projections and as investors anticipated the unveiling of Apple Inc’s new iPhone models. 

The Dow Jones Industrial Average rose nearly 166 points and finished up 140.62 points, or 0.9%, at 15,063.12, its best performance in more than eight weeks. Caterpillar Inc. CAT +0.18%  led gains that included all but one of the blue-chip index’s 30 members after the Chinese government reported exports rose 7.2% in August from the year-earlier period, topping forecasts for a 6% rise. 

“China came out with significantly better economic data over the weekend, and that’s important to us because the China demand story continues to be a very important piece of the global economic picture,” said Art Hogan, market strategist at Lazard Capital Markets. 

To continue reading click on the link below:

CNBC | Wall Street at Close Report September 09, 2013.

Stocks close near highs; Dow ends above 15000, posts best day in 2 months

Stocks kicked off the first trading day of the week with a bang, with the Dow having its best day in two months, lifted by upbeat economic data from China and despite ongoing worries over Syria.
"We've just gotten to the point where the markets are sick of worrying," said Bruce McCain, chief investment strategist at Key Private Bank. "We can obsess about the Syrian conflict or the beginning of QE tapering, but for the most part, things are looking a lot better than they have been—the economy's not going gangbusters, but the general trend has been toward some improvement."

  Name Price   Change %Change
DJIA Dow Jones Industrial Average 15063.12
140.62 0.94%
S&P 500 SandP 500 Index 1671.71
16.54 1.00%
NASDAQ Nasdaq Composite Index 3706.18
46.17 1.26%

The Dow Jones Industrial Average soared 140.62 points, or 0.94 percent, to close at 15,063.12, propelled by Caterpillar and Travelers.

The S&P 500 jumped 16.54 points, or 1 percent, to finish at 1,671.71, while the Nasdaq rallied 46.17 points, or 1.26 percent, to end at 3,706.18. The Nasdaq 100 rallied to hit its highest level since November 2000.

So far in September, the Dow has rallied more than 1.5 percent, while the S&P 500 and Nasdaq have jumped more than 2 percent each.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slid below 16.

All key S&P sectors finished higher, boosted by materials and techs.
(Read more: Mom and pop stilldon't believe in this market)

To read full report click link below.

CMI | Spot Prices as of close of trading in New York, September 09, 2013

 Spot Prices as of close of trading in New York
Monday, September 09, 2013
Updated 9/09/2013 Today Change Week Ago Month Ago Year Ago
GOLD $1,388.35 -$0.20 $1,396.40 $1,311.75 $1,730.00
SILVER $23.79 -$0.18 $23.52 $20.28 $33.66
PLATINUM $1,488.20 -$10.50 $1,531.10 $1,494.80 $1,606.10
PALLADIUM $683.70 -$9.50 $725.20 $741.80 $675.20

FTC | Annoncements of Appointees September 09, 2013.: FTC Announces Appointments to Agency Leadership Positions.

Federal Trade Commission Chairwoman Edith Ramirez announced three appointments to leadership positions in the agency.
“It’s gratifying to have such great additions to the FTC’s leadership team,” Ramirez said. “I know they will assist the agency in advancing its mission on behalf of American consumers.”
Martin Gaynor, who will serve as Director of the FTC’s Bureau of Economics starting October 1, joins the agency from Heinz College at Carnegie Mellon University, where he is a professor of economics and public policy and holds the E.J. Barone Chair in Health Systems Management. Gaynor has an extensive teaching background and has received numerous awards for research in health care economics. He earned doctoral and master’s degrees in economics from Northwestern University, and an honors degree in economics from the University of California, San Diego.
David B. Robbins has rejoined the agency as Executive Director, having been managing director/chief operating officer for the Federal Communications Commission and associate administrator for the Small Business Administration’s Office of Management and Administration. He previously served as an assistant director, attorney, and senior program manager in the FTC’s Bureau of Consumer Protection. Robbins earned a JD from Seton Hall University School of Law and a bachelor degree from Rutgers University. The Office of Executive Director is responsible for the administration and management of the Commission.
Thomas N. Dahdouh has been named Regional Director of the FTC’s Western Region offices in San Francisco and Los Angeles, having served as Assistant Regional Director from September 2012 to May 2013. He had been a staff attorney in the San Francisco office for 14 years, handling antitrust and consumer protection matters, and previously served as an Assistant to the Director of the FTC’s Bureau of Competition, and as an Attorney Advisor to former FTC Commissioners Dennis Yao and Christine Varney. Dahdouh is an honors graduate of Harvard Law School and Yale University.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.
Office of Public Affairs
More news from the FTC >>

The Economist | Selected New Articles September 09, 2013.

The Economist
Monday September 9th 2013
Editor's picks

A selection of new stories from
Game theory: Wrestling with the IOC
Babbage: PAX vobiscum
Pomegranate: Getting sucked in

All change down under
Tony Abbott will be Australia's next prime minister, after winning a handsome majority
Game theory:
Wrestling with the IOC
After a six-month probation, a staple pursuit is allowed back into the Olympic family
PAX vobiscum
The organisers of an enormous gamers' event have a blind spot
Getting sucked in
Israelis feel they can no longer stand aloof from events next-door in Syria
The Economist explains
Why would anyone want to host the Olympics?

Click Here!

The Economist Debates Series

Should the world be intervening militarily in Syria? Rebuttals are now live