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May 7, 2015

FTC News Release - May 7, 2015: Federal Trade Commission and Department of Justice Support U.S. Patent and Trademark Office Efforts to Increase the Quality of Granted Patents.

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The Federal Trade Commission (FTC) and the Department of Justice (DOJ) submitted comments to the United States Patent and Trademark Office (PTO) in response to the PTO’s comprehensive initiative to increase the quality of granted patents. The PTO initiative focuses on excellence in work products, measuring patent quality, and customer service.

European Markets at Close Report by CNBC on May 7, 2015: Europe pares losses to close flat after weak US data

Europe pares losses to close flat after weak US data

European equities trimmed losses on Thursday and closed flat, rebounding from heavy selling earlier in the session, as weak data from the U.S. helped to curb expectations of a rate rise from the Federal Reserve.

Global selloff

FTSEFTSE 100 Index6902.63
DAXDAX Index11428.89
CAC 40CAC 40 Index4979.36
IBEX 35IBEX 35 Idx11205.00

FTC Consumer Updates - May 7, 2015: A friendly reminder.

Federal Trade Commission Consumer Information
by Aditi Jhaveri
Consumer Education Specialist, FTC

Just a friendly reminder...if you haven’t changed your passwords in a while, today is a great day to do it. Why? Because it’s Password Day!

Read more >

Bits | The Business of Technology Daily Report - May 7, 2015: Alibaba Names New Chief Executive and Reports Revenue Rise

Thursday, May 7, 2015
For the latest updates, go to »

Daily Report
Alibaba Names New Chief Executive and Reports Revenue Rise | The Chinese e-commerce giant Alibaba said Thursday that its revenue grew 45 percent compared with last year, meeting expectations, but it announced a new chief executive in the wake of concerns about inefficiency,

WP Opinions - May 7, 2015.

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American workers need a powerful voice, not mere bluster

Labor’s opposition to the most ambitious trade agenda in a generation fails U.S. workers.
E.J. Dionne Jr.

Populism could divide the Grand Old Party

Hillary Clinton’s lead in polls, despite bad publicity, owes much to Republicans’ branding problems.
George F. Will

Lincoln Chafee’s implausible campaign

The Rhode Island Democrat is not an obvious candidate to lead the vanguard of the proletariat.
Dana Milbank

‘Madmen Across the Water’

Elton John gets called to Capitol Hill for a highly unusual committee hearing.
Robert J. Samuelson

The ‘exorbitant privilege’ and its stubborn costs

The dollar’s status as dominant global currency is tough on American manufacturers.

How to revive the American Dream

Rebuilding our middle class won’t be easy.

Mining Daily News From Mineweb - May 7, 2015: Meet South 32

Mineweb   7 May 2015
Meet South32
We take a closer look at South32's assets.

Asian Markets at Close Report and U.S. Stock Market Future Indications by MarketWatch on May 7, 2015: Asia stocks fall after Yellen warning on valuation.

Asia stocks fall after Yellen warning on valuation



Stocks across Asia fell Thursday on concerns about the sluggish U.S. economy and overvalued equity markets, with Shanghai dropping the most and extending a deep two-day correction.
The Shanghai Composite Index SHCOMP, -2.77%  fell 2.7% at 4,112.86 after losing 5.6% in the past two sessions. In Japan, reopening after its golden week holiday, the Nikkei Stock Average NIK, -1.23%   fell 1.2% to 19,291.99, while Australia’s S&P ASX 200 XJO, -0.82%  and the Hang Seng Index in Hong Kong HSI, -1.27% were down 0.8% and 1.3%, at 5,645.70 and 27,289.97, respectively.
Overnight, U.S. Federal Reserve Chairwoman Janet Yellen warned about high stock valuations during a panel discussion with the head of the International Monetary Fund, Christine Lagarde. Earlier Wednesday, data showed a slowdown in U.S. job creation, which could encourage Fed officials to delay raising interest rates beyond their June meeting.
“The basic premise that the U.S. economy is good and European economies are bad is changing,” said Hideyuki Ishiguro, senior strategist at Okasan Securities. But he added that solid Japanese earnings results and the prospect of a recovery in consumption should support the Tokyo market.
Shares in mainland China and Hong Kong have rallied this year, but the charge has been halted in recent days. The Hang Seng Index suffered its sixth consecutive day of losses.
Australia, too, has seen its rally interrupted. There, the number of people in employment fell in April, breaking a pattern of strong jobs growth and helping to justify the central bank’s decision Tuesday to cut interest rates to a record low of 2%.
Asian currencies were mostly lower Thursday as well, with the Korean won offUSDKRW, +1.05%  as much as 0.9% and the Malaysian ringgit USDMYR, +0.8638% off 0.9% against the U.S. dollar. China’s central bank set its guidance for the yuanUSDCNY, +0.1032%   against the U.S. dollar at its strongest level since February 2014.
“This is quite a traditional scenario,” said David Gaud, senior fund manager at Edmond de Rothschild Asset Management. “The market is starting to anticipate a [U.S. Federal Reserve] tightening so economies which have been growing fast on external debt and U.S. denominated debt are starting to see the stress.”
Dominique Fong, Fiona Law and Kosaku Narioka contributed to this report.

U.S. stock futures tumble amid global stock selloff


Wall Street was poised for a deep-red open on Thursday, with futures tracking a selloff in global equity markets that was driven in part by sharply rising bond yields in Europe.
Also in focus are fresh jobless claims data and Friday’s highly anticipated nonfarm-payrolls report.
Stocks in Asia closed sharply lower following Federal Reserve Chairwoman’s Janet Yellen’s warning on stock valuation, while European markets slumped amidweakness in the bond market.
Mirroring these losses, futures for the Dow Jones Industrial Average YMM5, -0.37% slumped 116 points, or 0.7%, to 17,662, while those for the S&P 500 indexESM5, -0.34%  dropped 12.95 points, or 0.6%, to 2,061.25. Futures for the Nasdaq 100 index NQM5, -0.32%  lost 31.50 points, or 0.7%, to 4,341.75.

DealBook Today's Top Headlines - May 7, 2015: Some Choice Words for Buffett | Yellen Sees Stock Prices as 'Quite High' | Alexion to Buy Synageva for $8.4 Billion.

SOME CHOICE WORDS FOR BUFFETT When the activist investor Daniel S. Loeb decides to take on corporate chieftains, he usually does it in the form of a scathing letter to them. On Wednesday, however, he used the spotlight at the SkyBridge Alternatives Conference in Las Vegas to issue some pointed remarks about Warren E. Buffett, Berkshire Hathaway's chief executive, Alexandra Stevenson writes in DealBook. Mr. Loeb, who runs the $17.4 billion hedge fund Third Point, was aiming at Mr. Buffett's takedown of hedge funds during Berkshire Hathaway's annual meeting last weekend, during which Mr. Buffett pointed out that the S.&P. 500 had gained 63.5 percent since 2008, while an index of hedge funds had increased by 19.6 percent over the same period. 

NYT First Draft on Politics - May 7, 2015: A Distant Finish Line in a Crowded Republican Race.

A Distant Finish Line in a Crowded Republican Race

Attendees at the First in the Nation Republican Leadership Summit meeting in Nashua, N.H., last month. Ian Thomas Jansen-Lonnquist for The New York Times
MAY 7, 2015
By Maggie Haberman
Good Thursday morning from Washington. President Obama leaves for Oregon for his third Democratic fund-raiser of the week, while some New York politicians are making national news. As for Republicans, the number of candidates and changes to the nomination calendar could make for a protracted fight.

NYT | Today's Headlines - May 7, 2015: Top News | Editors' Picks | Today's Video | World | U.S. | Politics | Business | Technology | Sports .

The New York Times

Today's Headlines

Thursday, May 7, 2015

Top News
Arthur L. Caplan
Company Creates Bioethics Panel on Trial Drugs


Johnson & Johnson named the bioethicist Arthur L. Caplan to create a panel to decide on patients' requests for lifesaving medicines before they are approved.

The Telegraph City Briefing on May 7, 2015.

The Telegraph

Good morning. Here's our early look at today's news from the City:
The pain isn't over for the grocer, despite its wide-ranging price cuts over recent months. Like-for-like sales at Britain's fourth-biggest supermarket group fell by 2.9pc in the last 13 weeks, it has said this morning.
David Potts, the former Tesco executive who was put in charge after former boss Dalton Philips was ousted, has offered some hope to shareholders: he says underlying profits will improve in the second half of the year.

DealBook P.M. Edition on May 6, 2015: Top Story: Alexion to Buy Synageva BioPharma in $8.4 Billion Deal

Alexion to Buy Synageva BioPharma in $8.4 Billion Deal Alexion Pharmaceuticals has become one of the most valuable companies in the biotechnology industry on the strength of a single drug that treats two extremely rare diseases. Its secret: charging about $500,000 a year for the drug for each patient and scouring the planet for every potential patient. Now, the company hopes to repeat this process with a new drug. Alexion said Wednesday that it would pay about $9 billion to acquire Synageva BioPharma, another company specializing in rare diseases with one drug expected to come to market later this year.

WSJ | Biggest Gainers Closing on May 6, 2015.

Biggest Gainers Closing
Biggest Gainers
4:47 pm ET 05/06/2015
USANA Health Sciences (USNA)323,514$140.5123.4320.01
Walker&Dunlop (WD)1,568,32223.303.7118.94
Herbalife (HLF)7,896,62146.696.6016.46
Trinseo (TSE)607,69424.002.179.94
TRC Cos. (TRR)84,4008.230.749.88
Stillwater Mining (SWC)2,856,00614.371.158.70
NACCO Industries Cl A (NC)51,32452.353.968.18
PowerSecure International (POWR)745,61014.191.057.99
Zendesk (ZEN)1,302,66321.931.366.61
Globus Medical (GMED)2,106,43225.011.506.38
Global Cash Access Holdings (GCA)766,9007.780.466.28
John Bean Technologies (JBT)193,33937.272.176.18
Bio-Rad Laboratories Cl A (BIO)428,491142.998.306.16
Rosetta Stone (RST)302,2647.850.435.80
Inphi (IPHI)722,30421.481.175.76
Paycom Software (PAYC)768,54033.051.725.49
Invitae (NVTA)100,67612.070.605.23
WPX Energy (WPX)10,986,76713.960.685.12
ChannelAdvisor (ECOM)422,44611.360.555.09
Rogers Communications Cl B (RCI)1,238,71236.501.624.64
Axalta Coating Systems (AXTA)2,970,29632.301.414.56
Wausau Paper (WPP)165,5099.710.414.41
OCI Partners (OCIP)14,06218.560.784.39
Companhia Energetica de Minas Gerais-Cemig ADS (CIG)5,988,8465.250.224.37
Chesapeake Utilities (CPK)63,08547.521.984.35