Business Topics Overviews

Automatically compiled digests of BUSINESS news stories
(originally aggregated by the Google News)

Thursday

May-17 -- Asian Stocks, Oil, Yen Fall on Greek Talks, Japan Orders
The MSCI Asia Pacific Index (MXAP) rose 0.4 percent to 114.77 as of 12:36 p.m. in Tokyo, after falling as much as 0.2 percent.
Greece will hold new elections after President Karolos Papoulias failed to form a ruling coalition, threatening spending cuts required to secure 240 billion euros ($306 billion) in bailouts. More...

May-17 -- Singapore Economy Expands 10%, But Warns on 'Disorderly' Europe
The problems in the U.S. and Europe will have an impact on the trade-dependant economy and quarter-on-quarter annualized growth could be close to zero," said Robert Prior-Wandesforde, the regional economist at Credit Suisse.
Separately, the Ministry of Trade and Industry said that the economy grew 10.0% in the January-March period compared with the previous quarter, revising an earlier estimate of 9.9% expansion released last month. More...

May-17 -- Short-seller Einhorn targets Amazon and Martin Marietta
NEW YORK (Reuters) - Investor David Einhorn built his reputation as a hedge fund industry superstar through targeted presentations that took on companies like Lehman Brothers, MBIA ( MBI.N ) and Green Mountain Coffee Roasters ( GMCR.O ).
Einhorn also said Martin Marietta Materials shares are overvalued, benefiting from a one-time stimulus. More...

May-17 -- Greece worries weigh on US stocks
U.S. stock futures on Tuesday rose after investors received some encouraging news about the German economy and awaited a deluge of economic reports from the U.S., including the closely watched consumer-price-inflation and retail-sales numbers.
The FTSEurofirst closed down 4.89 points, or 0.5 percent, at 992.81, falling for a third consecutive trading day and hovering around 4-1/2 months lows. More...

May-17 -- Fed officials open to more efforts to stimulate economy if recovery worsens
According to the minutes of the Federal Reserve meeting held on April 24-25, 2012, " several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough ".
Fed officials also said Europe's financial problems pose a significant threat to the economy -- and that was before the latest concerns about political and financial disarray in Greece. More...

May-17 -- 'London Whale' Said to Be Leaving JPMorgan
The London-based trader at the center of JPMorgan Chase 's $2 billion trading loss will be leaving the bank, according to reporting by The New York Times , although he still remains employed there .
Born in France, Iksil started working for JPMorgan in London in 2005, becoming a trading force in the so-called City. More...

May-17 -- JC Penney stock has worst fall ever
The move pushed the stock well below the $30.11 closing price on June 13, the day before it named Apple Inc ( AAPL.O ) retail store head Ron Johnson as chief executive.
Per the deal, J. C. Penney acquired the global rights for the Liz Claiborne portfolio of brands and the U.S. and Puerto Rico rights for Monet, a fashion jewelry brand, for $267.5 million. More...

May-17 -- Last-Minute Investors Shut Out Of Facebook IPO
Investors who want Facebook Inc shares when the No. 1 online social network goes public later this week may have lost the opportunity.
More...

May-17 -- Skechers agrees to $40 million settlement for claims about shoes' benefits
"The FTC's message, for Skechers and other national advertisers, is to shape up your substantiation or tone down your claims," FTC consumer protection bureau director David Vladeck said in a statement.
The study did not produce the results claimed in the ad, the FTC said. More...

May-17 -- Growth figures show Japan on recovery track
A key driver in the quarterly growth data released Thursday was public investment, which rose 5.4 percent, amid strong reconstruction spending, while exports rose 2.9 percent on quarter.
While an annualised growth rate of 4.1 per cent is striking -- more than three times better than forecast 2012 real average growth in the G10 economies -- Japan is unlikely to keep it up, say analysts. More...

May-17 -- North Korea 'resumes work' on light water reactor
Commercial satellite images, taken on April 30 and analyzed by Johns Hopkins University's US-Korea Institute, showed advances at the site of a new reactor at the Yongbyon complex with added concrete, steel and roof work.
The GeoEye image shows progress in construction of the containment building for the light-water reactor at the Yongbyon facility, according to the institute, but that the reactor is unlikely to become operational before 2014 or 2015. More...

May-17 -- Oil rises above $93 as traders mull Europe turmoil
Brent crude, which helps set the price of oil imported into the U.S., fell by 87 cents to $110.58 per barrel in London.
The first sweet crude on offer from the long-awaited first of several pipelines to ease the Cushing glut has compressed the price difference between Mars sour, a light sour blend with Louisiana Light Sweet. More...

May-17 -- LIFELONG HEALTH- PSAs Ill-Advised in Men of Warren Buffett's Age
Berkshire Hathaway, the investment firm of 81-year-old mega market mogul Warren Buffett, has enough faith in General Motors to pull the buying trigger for 10 million shares of the company's stock.
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May-17 -- Target Shines, but Forecasts Are Dim for 2 Other Retailers
Including the significant items above, reported first quarter earnings per share were $0.41 compared to $0.50 last year; operating income was $293.2 million compared to $216.8 million last year; and net income was $124.6 million compared to $165.2 million last year.
The company expects to report second quarter EPS of $0.40 to $0.45 and between $2.63 and $2.83 for the full year. More...

May-17 -- FBI keeping NYPD out of the loop on terror
FBI Director Robert Mueller told the Senate Judiciary Committee the bureau has launched a preliminary investigation into JPMorgan Chase & Co. following its disclosure of a $2 billion trading loss.
Certain that the mutineers have damaged the barbs. More...

May-17 -- Judge May Permit Wiretaps as Evidence in Insider Case
The judge presiding over Rajat Gupta's trial for insider trading said he's inclined to let prosecutors introduce a secretly recorded July 2008 phone call.
Mr. Rajaratnam is serving an 11-year jail term at a federal prison in Massachusetts. More...

May-17 -- Clash Among Ultra-Orthodox at a Rally
NEW YORK (CBSNewYork) The controversial fundraiser that became a divisive issue in the Hasidic community was held Wednesday night in Brooklyn.
Weberman's attorney said everyone is entitled to a strong defense. More...

May-17 -- Leading insurer pays $109M for dog bite claims
State Farm Insurance, one of the nation's largest home insurers, paid more than $109 million on about 3,800 dog bite claims nationwide last year, spokesman Eddie Martinez said Wednesday.
More than a third of all homeowners insurance claims are from dog bite incidents, according to the Insurance Information Institute. More...

Wednesday (Update 2)

May-17 -- US STOCKS-Europe drags down Wall Street a fourth day
U.S. stock futures on Tuesday rose after investors received some encouraging news about the German economy and awaited a deluge of economic reports from the U.S., including the closely watched consumer-price-inflation and retail-sales numbers.
The Nasdaq Composite Index fell 8.82 points, or 0.30 percent, to close at 2,893.76. More...

May-17 -- Several on FOMC Said Easing May Be Needed If Recovery Slows
Central bank officials overall thought the U.S. economy was still on a path of "moderate" growth that would gradually pick up, according to minutes of the Federal Open Market Committee's April 24-25 meeting, released after the customary three-week lag.
About half of the participants expected that the rates would continue to be low at least through late 2014. More...

May-17 -- FTC: Skechers deceived consumers with shoe ads
Kim Kardashian was part of the Skechers ad campaign called "deceptive" by the FTC. Skechers, the company that makes those extremely popular Shape-ups toning shoes, has agreed to pay $40 million in refunds to settle charges of deceptive advertising brought by the Federal Trade Commission.
The federal settlement is part of a broader agreement that resolves an investigation conducted by 44 states and the District of Columbia. More...

May-17 -- ECB presses Athens over banks
The ECB, too, has much at stake.
Canadian stocks erased gains and traded weaker after the latest news from Europe, led by declines in banks and other financial services companies. More...

May-17 -- OIL FUTURES: Crude Down 1.2% To New 2012 Low Of $92.81 A Barrel
Transatlantic arbitrage widens by 64 cents By Janet McGurty NEW YORK, May 16 (Reuters) - U.S. cash crude differentials were slightly stronger with the exception of Light Louisiana Sweet, which fell ahead of the reversal of the Seaway pipeline expected to begin on Thursday, with some traders wondering weakness in West Texas Intermediate pricing will spread to the Gulf Coast cash crudes.
The first sweet crude on offer from the long-awaited first of several pipelines to ease the Cushing glut has compressed the price difference between Mars sour, a light sour blend with Louisiana Light Sweet. More...

May-17 -- Boyd Gaming to Buy Peninsula Gaming for $1.45 Billion
NORTHWOOD, IA -- Las Vegas-based Boyd Gaming Corporation announced today they've agreed to buy the company that owns Diamond Jo Casino and several other casinos.
"Acquiring Peninsula Gaming is a transformative transaction that fits perfectly into our growth strategy by expanding our Company's scale, diversifying our platform, strengthening our financial profile, and generating meaningful value for our shareholders," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. More...

May-17 -- Fund managers reveal "best ideas" at Ira Sohn event
Herbalife stock fell 20 percent on May 1 after Greenlight Capital's Einhorn showed up on the company's conference call and asked questions about its business model and distributor groups.
Who made him the puppet master of Wall Street? This Einhorn affiar says more about the idiots trading stock than about the actual world of business. More...

May-17 -- 'London Whale,' Who Lost $2 Billion, to Leave JPMorgan
The London-based trader at the center of JPMorgan Chase 's $2 billion trading loss will be leaving the bank, according to reporting by The New York Times , although he still remains employed there .
Last week, JPMorgan revealed the trading loss in the bank's 10-Q filing. More...

May-17 -- Virgin Atlantic to let passengers on some flights use cellphones
Beyond the technical reasons for not allowing cellphone use in-flight in the United States is that passengers and crew alike have made it clear the skies are the last escape they have from constant conversation.
Passengers will be able to send text messages, make a call or access email on mobile devices. More...

May-17 -- JC Penney Stock Drops As Questions On Strategy Grow
Jan Rogers Kniffen, J. Rogers Kniffen Worldwide founder, discusses re-invigorating the customer to turn the stock around.
The loss was worse than even Wall Street's already-low estimates and illustrates just how risky the strategy is. More...

May-17 -- CREDIT MARKETS: Fed Raises Stimulus Hopes, Treasurys Soar
Opinion polls show the vote would favor anti-austerity, left-wing parties which do not plan to adhere to Greece's bailout conditions.
Central banks, led by the Fed, have also taken Treasuries out of the market. More...

May-17 -- Legg Mason Rises Most in Two Years After KKR Repurchase
Legg Mason said it has drawn about $250 million from a revolving credit facility, and plans to use other debt and cash to buy back the $1.25 billion of convertible senior notes that private equity firm Kohlberg Kravis Roberts & Co. holds.
Legg Mason's Board of Directors has authorized $1.0 billion for additional share repurchases. More...

May-17 -- YPF will replace auditors, avoid NYSE delisting
The suit was filed on Tuesday by Repsol and another YPF shareholder, U.S. firm Texas Yale Capital, a Repsol spokesman told AFP. Argentine President Cristina Kirchner on May 4 signed a bill expropriating 51 percent of YPF's stock from Repsol, its majority shareholder, arguing Repsol had failed to make agreed investments needed to expand domestic production.
Repsol said the Treaties of Investment Promotion and Protection involve "measures containing clauses designed to protect, in terms of international law, the investments made by investors" in states. More...

May-17 -- Southwest Delays 30 Jet Deliveries to Save $1 Billion
DALLAS - Southwest Airlines Co. is doubling its $500 million share buyback program to $1 billion and raising its quarterly dividend to 1 cent per share.
Southwest in December agreed to buy 208 Boeing 737s with a list value of $19 billion, the largest aircraft order ever and the first to include the more fuel efficient MAX model. More...

May-17 -- Judicial States Continue to Skew Foreclosure Statistics
WASHINGTON, D.C. May 16, 2012 (RealEstateRama) The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 7.40 percent of all loans outstanding as of the end of the first quarter of 2012, a decrease of 18 basis points from the fourth quarter of 2011, and a decrease of 92 basis points from one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.
Mortgage delinquencies normally fall during the first quarter of the year, but the declines we saw were even greater than the normal seasonal adjustments would predict, so delinquencies are clearly continuing to improve. More...

May-17 -- Investors want Chesapeake annual meeting delayed
The company has arranged for a $3 billion unsecured loan from Goldman Sachs ( NYSE:GS ) and affiliates of Jefferies Group ( NYSE:JEF ).
McClendon and Chief Financial Officer Nick Dell'Osso talked about Chesapeake's financial situation in a conference call Monday morning before the market opened. More...

May-17 -- Spain Urges EU to Provide More Support
Greece's political stalemate and Spain's ailing banking sector heightened investor fears about a fresh eruption of the euro zone debt crisis, hiking Spanish 10-year yields 18 basis points to 6.21 percent.
France is still rated triple-A by Moody's and Fitch, but was downgraded to AA+ by Standard & Poor's in January as part of a mass downgrade of euro zone states. More...

May-17 -- Coty Picks Underwriters for IPO
On April 2, Coty announced an unsolicited offer of $23.25 per share, which Avon rejected as inadequate, and on May 9 lifted the bid to $24.75, or $10.7 billion.
Avon has rebuffed or sidestepped Coty's past courtship efforts. More...

May-17 -- Industrial output rebounds
Production at mines rose 1.6 percent, and the output of utilities gained 4.5 percent after unseasonably warm weather in the first quarter held down demand for heating.
Economists surveyed by Dow Jones Newswires had forecast an 0.6% rise in output and capacity utilization of 79.0%. More...

Wednesday (Update 1)

May-16 -- Housing starts, industrial production both rose in April
Despite a sluggish economy and high levels of unemployment, home builders are feeling more optimistic.
In a speech Tuesday, Federal Reserve Gov. Elizabeth Duke cited several positive signs for the housing market, including stabilization in home prices and a decline in newly delinquent borrowers. More...

May-16 -- US energy independence is no longer just a pipe dream
We will continue to spare no effort in getting our customers energy fit by insulating homes, installing smart meters and providing advice that makes a real difference.
Already, U.S. electricity generation from natural gas has jumped 12 percent in the past year. More...

May-16 -- Stocks to weigh Greece, US economy
U.S. stock futures on Tuesday rose after investors received some encouraging news about the German economy and awaited a deluge of economic reports from the U.S., including the closely watched consumer-price-inflation and retail-sales numbers.
Japan's Nikkei share average fell 0.8 percent to a 3-1/2 month closing low on Tuesday, weighed by exporters with exposure to Europe after Greece struggled to form a coalition government, raising fears that it may exit the euro zone. More...

May-16 -- Industrial Production in US Climbs More Than Forecast
Production at mines rose 1.6 percent, and the output of utilities gained 4.5 percent after unseasonably warm weather in the first quarter held down demand for heating.
Manufacturing output increased 0.6 percent in April after having decreased 0.5 percent in March. More...

May-16 -- Needy States Use Housing Aid Cash to Plug Budgets
The bills were proposed by state Attorney General Kamala Harris, who helped secure $18 billion for California in the bank settlement, and are awaiting action in a conference committee.
The $410 million now being tussled over is the cash portion of the settlement. More...

May-16 -- BMC Investor Elliott Nominates Directors to Push for Sale
Elliott has also notified the company of its intent to nominate a slate of five nominees to stand for election at the company's 2012 Annual Meeting of Stockholders.
With respect to the consideration of director candidates, the Corporate Governance & Nominating Committee of BMC's Board of Directors will follow the Company's policies and procedures for considering director candidates recommended by stockholders and will respond in due course. More...

May-16 -- Staples international sales fall on weak Europe demand
Total company sales for the first quarter of 2012 were $6.1 billion, a decrease of 1 percent in U.S. dollars and flat on a local currency basis compared with the first quarter of 2011, Staples said in a press release .
In the fourth quarter of the last fiscal year, net income rose 3.2% from the year earlier, while the figure increased 13.1% in the third quarter of the last fiscal year, 36% in the second quarter of the last fiscal year and 5% in the first quarter of the last fiscal year. More...

May-16 -- Atlanta: World's busiest airport opens new international terminal
ATLANTA, May 15, 2012 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) flight 295 to Tokyo-Narita will become the first flight to depart Concourse F at the new Maynard H. Jackson Jr. International Terminal when it opens tomorrow at Atlanta's Hartsfield-Jackson International Airport.
Both domestic and international passengers will use the same airport stop. A shuttle bus will take passengers from the airport MARTA station to the international terminal. More...

May-16 -- US Treasurys Hold At Session Lows After Housing Report
The inability of the U.S. government to reduce record debt and deficits is being rewarded in the bond market.
"Treasuries are higher as fears about new political realities in Germany and Greece, global growth, and Spanish banks drive investors into safe-haven debt markets," said William O'Donnell, managing director and head of U.S. Treasury strategy at RBS Securities in Stamford, Connecticut. More...

May-16 -- Target Raises Profit Outlook
As for the numbers, TGT earned $697 million, or $1.04 per share, in the first quarter ending in April, which is up from $689 million, or 99 cents per share, the previous year.
Analysts are currently looking for earnings of 99 cents, according to a survey conducted by Thomson Reuters. More...

May-16 -- Deere fiscal 2Q profit rises, beats expectations
Net sales of equipment operations rose to $9.4 billion from $8.33 billion a year earlier.
The quarter was Deere's eighth consecutive record quarter as the equipment manufacturer has taken advantage of the farm cash boom in the U.S. and worldwide. More...

May-16 -- IMF says Italy on right track, must not let up on reform
Italy has pulled out of the near-terminal spiral it was caught in late last year when soaring borrowing costs threatened to push it to a Greek-style meltdown.
Monti agreed on Wednesday that "much remains to be done to deal with the delays which have built up for years, and with the structural weaknesses. More...

May-16 -- Rajoy warns Spain faces lock-out from markets
MADRID -Spain's prime minister warned Wednesday that the country faced the danger of being locked out of international markets as investors continued to fret about the future of the euro and Greece's place in the 17-country eurozone.
Madrid, May 16 (Xinhua-ANI): Spanish Prime Minister Mariano Rajoy on Wednesday called on the European Union (EU) to speak out in defense of the euro. More...

May-16 -- GE Capital Resumes Paying Dividend to Parent
Multinational conglomerate General Electric Company ( ]] ]] ) on Wednesday announced its finance arm, GE Capital, will resume its quarterly dividend payout to its parent company.
GE historically received a dividend from GE Capital, but halted that practice in the fourth quarter of 2008, when the business was hard-hit by the global credit crisis. More...

May-16 -- Spain's Repsol sues Argentina over YPF takeover
BUENOS AIRES (Reuters) - Argentina's Petersen Group will not make a roughly $400 million syndicated loan payment to banks that helped it buy a stake in energy company YPF ( YPFD.BA ), a source with direct knowledge of the situation said on Tuesday.
May 15 (Bloomberg) -- Eton Park Capital Management LP, the hedge fund run by Eric Mindich, raised its stake in YPF SA in the first quarter before Argentina took. More...

May-16 -- Oil falls to 6-month low near $92 on US supplies
Coming up: EIA oil stocks data 10:30 a.m. EDT Wednesday (Adds API oil data paragraphs 3-4, 17-19) By Robert Gibbons NEW YORK, May 15 (Reuters) - Brent oil edged higher on Tuesday, snapping three days of declines and lifting its premium to slumping U.S. crude back above $18 a barrel, as supportive German economic growth helped counter political turmoil in Greece.
Nymex crude for June delivery fell below $93 a barrel, reaching a six-month low ahead of a closely watched Department of Energy survey of weekly U.S. oil stockpiles, due at 1430 GMT. More...

May-16 -- Ahead of the Bell: GM stock on the rise
It's not a large stake for Buffett's Berkshire Hathaway, which also announced it currently holds 10 million shares of GM, but it could be an indication that Buffett and his team believe there is growth potential in Viacom stock, which is down 5.9% in the last year.
The Berkshire investment is a just a tiny slice of the 1.57 billion GM shares outstanding. More...

May-16 -- J.C. Penney Declines After Posting Loss Amid Slumping Sales
"We do not claim to have extremely creative minds," Lejuez says, "so we are sure J.C. Penney management will come up with ideas that surprise us--maybe all of us."
Yesterday, as the aging department-store chain reported a $163 million loss on a steep sales decline, execs were forced to admit that getting rid of coupons likely drove a 10-percent drop in customer traffic. More...

Wednesday

May-16 -- US energy independence is no longer just a pipe dream
We will continue to spare no effort in getting our customers energy fit by insulating homes, installing smart meters and providing advice that makes a real difference.
The most important number may be $70 -- the estimated cost to produce a barrel of oil from shale or tar sands, the heart of the new U.S. supplies. More...

May-16 -- Needy States Use Housing Aid Cash to Plug Budgets
The bills were proposed by state Attorney General Kamala Harris, who helped secure $18 billion for California in the bank settlement, and are awaiting action in a conference committee.
Some attorneys general disagreed over the scope of the final mortgage accord, including California Attorney General Kamala Harris. More...

May-16 -- Global stocks drop as Greece heads to another election
U.S. stock index futures pointed to a lower open on Wall Street on Monday, with S&P 500 futures down 1 percent and contracts for the Dow Jones and Nasdaq 100 down 0.9 percent at 0853 GMT. European shares hit new four-month lows on Monday as Greece's failure to form a government heightened fears it could quit the euro zone, while signs that China was struggling to shore up its economy cast a shadow on global growth prospects.
The PHLX housing index rose 1.8 percent. More...

May-16 -- Penney has 1Q loss as new pricing repels shoppers
"We do not claim to have extremely creative minds," Lejuez says, "so we are sure J.C. Penney management will come up with ideas that surprise us--maybe all of us."
Shares are down 12% in late trading at $29.20. More...

May-16 -- China's Stocks Fall for 4th Day on Economy Concern, Greek Crisis
Asian stocks fell, with a regional index posting its worst week in five months, amid concern Greece could be forced out of the euro and that austerity plans needed to contain the eurozone debt crisis will be derailed.
Gold stocks fell after gold futures for June delivery dropped 1.5 percent to US$1,561 an ounce in New York, the contract's lowest since December 29. More...

May-16 -- Oil Drops a Fourth Day on Rising US Supplies, Greek Elections
Benchmark West Texas Intermediate crude gave up 80 cents to end the day at $93.98 per barrel in New York.
Brent oil for June settlement gained 67 cents, or 0.6 percent, to end the session at $112.24 a barrel on the London- based ICE Futures Europe exchange. More...

May-16 -- Treasury Yield Is 10 Basis Points From Low on Greece
Despite Tuesday's dip in prices, investors were the most bullish on U.S. Treasuries holdings since late February as Greece's political turmoil fed safe haven demand for less risky U.S. and German bonds, a survey released on Tuesday showed.
NEW YORK (Dow Jones)--U.S. Treasury bonds fell on Tuesday, stung by a round of U.S. data that eased worries over the economic outlook. More...

May-16 -- Harold A. Poling, 86, a Chairman of Ford, Dies
"Red Poling was an extraordinary leader who had a profound impact on Ford Motor Company and everyone who worked with him," Ford executive chairman Bill Ford Jr. said.
In 1950, Poling worked at Ford on a summer internship. More...

May-16 -- Petrobras Quarterly Profit Beats Estimates on Oil Export Growth
Brazilian oil and gas producer Petroleo Brasileiro SA (PBR, PETR4.BR) may "rapidly" raise its oil and gas reserves to 30 billion barrels of oil equivalent as a result of massive presalt oil discoveries, a Petrobras executive said Tuesday.
RIO DE JANEIRO, May 15 (Reuters) - Brazil's state-led oil company Petrobras is unable to predict how much oil it will produce this year, Chief Financial Officer Almir Barbassa told reporters in Rio de Janeiro on Tuesday. More...

May-16 -- As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them
Hedge fund managers on the other side of the trades that resulted in over $2 billion in losses at JPMorgan Chase are worried about reports that the Justice Department is investigating the matter, according to a person familiar with the matter.
In filings that represent a snapshot of each fund's holdings at the end of the first quarter, or March 31, Moore Capital Management reported it bought roughly 6.5 million JPMorgan shares worth a total of $297.3 million. More...

May-16 -- Buffett's Berkshire invests in GM, boosts Wal-Mart stake
It's not a large stake for Buffett's Berkshire Hathaway, which also announced it currently holds 10 million shares of GM, but it could be an indication that Buffett and his team believe there is growth potential in Viacom stock, which is down 5.9% in the last year.
Buffett makes most of Berkshire's investment decisions, but the filing may show what the company's two new investment managers, Todd Combs and Ted Weschler, have been buying and selling. More...

May-16 -- THQ slips into the red in fourth quarter, more pain ahead
For fiscal year 2012, THQ reported a net loss of $240 million, or $3.51 per share, compared with a net loss of $136 million, or $2 per share, for 2011.
The Los Angeles-based company is trimming staff and whittling down non-core businesses. More...

May-16 -- Sina Swings to Loss
Actual vs. Wall St. Expectations: Sina Corporation beat the mean analyst estimate of a loss of 27 cents per share.
Sina noted that non-GAAP revenue was $101.5 million, consistent with guidance of $101 million to $104 million. More...

May-16 -- Americans spending a bit more as gas prices fall
WASHINGTON May 15 (Reuters) - U.S. consumer prices were flat in April as households paid less for gasoline and natural gas, possibly giving the U.S. Federal Reserve more room to help economic growth should the recovery stumble.
Sales at clothing stores dropped 0.7%. More...

May-16 -- Chesapeake's Permian assets get a look from Anadarko
Chesapeake plans to repay the new loan by the end of December with proceeds from the sale of oilfields in Texas' Permian Basin and a joint-venture to develop the Mississippi Lime formation that straddles the Oklahoma-Kansas border.
The price of the company's junk-rated bonds dropped sharply in heavy trading, as bondholders digested the steep interest rates on the new loan and the large funding gap that led Chesapeake to agree to it. More...

May-16 -- Relational Investors Reveals Nearly $600 Mln Stake In PepsiCo
NEW YORK -- Activist investor Ralph Whitworth says his firm has taken a $600 million stake in PepsiCo Inc., a move that could ramp up pressure on the company to make changes.
PepsiCo, home to Tropicana orange juice, Gatorade sports drink and Frito-Lay snacks, came under fire late last year as many on Wall Street were dismayed with its stagnant stock price and a domestic soda business that was losing market share to rival Coca-Cola Co ( KO.N ). More...

May-16 -- Los Angeles adopts 'responsible banking ordinance'
According to the ordinance, tents in parks pose health and safety issues, "cause visual clutter and blight," and can ruin the experience for other park visitors.
Some homeless advocates worry that the ban could have broader implications beyond keeping the protesters from returning. More...

May-16 -- GE to buy Australia mining supplier Industrea
The industrial conglomerate also agreed to acquire privately held equipment maker Fairchild International, a U.S. mining supplier, for an undisclosed amount.
GE Transportation signed a binding Letter of Intent (LOI) to acquire Virginia-based, independently owned and operated Fairchild International. More...

Tuesday (Update 2)

May-16 -- Greek Woes Pressure Stocks in Choppy Session
U.S. stock index futures pointed to a lower open on Wall Street on Monday, with S&P 500 futures down 1 percent and contracts for the Dow Jones and Nasdaq 100 down 0.9 percent at 0853 GMT. European shares hit new four-month lows on Monday as Greece's failure to form a government heightened fears it could quit the euro zone, while signs that China was struggling to shore up its economy cast a shadow on global growth prospects.
NEW YORKConcerns about Greece's possible exit from the single-currency euro area helped push U.S. stocks to three-month lows, as the Dow industrials lost ground for the eighth time in nine sessions. More...

May-16 -- Warren Buffett's Berkshire Hathaway Adds GM to Holdings
I saved my favorite U.S. bank stock for last.
If you have not yet heard of him, I suspect that you will. More...

May-16 -- JC Penney Posts Loss; Stock Slumps
"We do not claim to have extremely creative minds," Lejuez says, "so we are sure J.C. Penney management will come up with ideas that surprise us--maybe all of us."
On average, analysts expect the retailer to post a loss of $0.10 a share, way down from the year-ago quarter's profit of $0.30. More...

May-16 -- US energy independence is no longer just a pipe dream
We will continue to spare no effort in getting our customers energy fit by insulating homes, installing smart meters and providing advice that makes a real difference.
Customers are starting to worry about higher prices, so you need to compare and switch gas and electricity supplier quickly before everyone else has the same idea. More...

May-16 -- Geithner Says Regulators to Take Close Look at JPMorgan
Treasury Secretary Timothy F. Geithner said JPMorgan Chase & Co (JPM) ( JPM )'s. $2 billion trading loss was a "pretty significant risk-management failure" and will prompt close scrutiny by regulators.
"And we're going to make sure that we meet that basic test." More...

May-16 -- Park Avenue co-op sells for record $52.5 million
The duplex was owned by Courtney Sale Ross, the widow of the late Time Warner CEO Steve Ross.
The couple paid $52.5 million for the eight bedroom, 10 bathroom spread in 740 Park Avenue. More...

May-16 -- After Coty Bid Dies, Avon Faces Hard Slog
Avon Products said Sunday it will respond to Coty Inc.' s latest offer within a week, more time than Coty's Monday deadline to decide whether to hold talks on a possible deal.
Coty Inc. offered $23.25 for Avon on March 30, or about $10 billion. More...

May-16 -- News Summary: Summer travel expected to be slightly more active in 2012
Washington (CNN) -- Drivers are expected to encounter jam-packed highways during the upcoming Memorial Day holiday weekend, according to a survey released Tuesday by AAA. Approximately 30.7 million Americans plan to drive to their destination this year, an increase of more than 500,000 travelers on the road compared to 2011, according to the organization, which provides roadside and travel services.
The number of people traveling by air is expected to decline 5.5 percent from last year's 2.7 million air travelers. More...

May-16 -- Groupon Shares Surge On 1Q Results, Though Questions Remain
Groupon Inc.' s stock jumped more than 16 percent Tuesday as its first-quarter revenue and its customer base grew.
Benchmark analyst Clayton Moran noted that international segments proved profitable for the first time, with an operating profit of more than $27 million. More...

May-16 -- Ex-Ford chairman, CEO Harold (Red) Poling dies; he turned losses into boom ...
"Red Poling was an extraordinary leader who had a profound impact on Ford Motor Company and everyone who worked with him," Ford executive chairman Bill Ford Jr. said.
Poling was elected chairman on March 1, 1990, after almost 11 years on the board of directors. More...

May-16 -- Boeing says prepping for further US budget cuts
Once we get to 10, we'll look at where we want to go from there."
Boeing Co. (BA) said it was prepared for more steep Pentagon spending cuts, though it expects to maintain the profitability of its big military business by securing more overseas sales. More...

May-16 -- Treasury Yields Dip Toward Historic Lows On Greece
If Greek political leaders cannot agree on a coalition, a fresh election is likely next month, which opinion polls have shown will favor anti-austerity, left-wing parties which do not plan to adhere to Greece's bailout conditions.
The March 2015 bond traded on Friday at around 3.6 percent. More...

May-16 -- Inflation in Seattle area climbs, while national price index shrinks
The report, from the Labor Department, showed that the overall consumer price index, or CPI, remained unchanged in April after advancing 0.3 percent in March, matching economists estimate.
Fed Chairman Ben Bernanke contends that the boost in inflation should be temporary and will recede as energy prices retreat. More...

May-16 -- Yahoo, AOL veteran Garlinghouse takes helm of startup YouSendIt
YouSendIt Inc. said Tuesday it has hired former AOL products chief Brad Garlinghouse as CEO. He will replace long-time CEO Ivan Koon, who left the Campbell-based company in April.
Dropbox, which is focused on consumers, has snagged a $4 billion valuation. More...

May-16 -- Relational expected to disclose PepsiCo stake: source
PepsiCo has faced investor dissatisfaction in recent years over its underperforming stock price and loss of market share to Coca-Cola Co. That's led to ongoing speculation that CEO Indra Nooyi will step down and that the company will split up its soda and snacks businesses.
PepsiCo Inc. (PEP) ( PEP ) said activist shareholder Ralph Whitworth has taken a stake in the company and has held "constructive" meetings with executives. More...

May-16 -- Repsol moves toward arbitration in dispute with Argentina
BUENOS AIRES, May 15 (Reuters) - Argentina's Petersen Group will not make a roughly $400 million syndicated loan payment to banks that helped it buy a stake in energy company YPF, a source with direct knowledge of the situation said on Tuesday.
"Argentina has violated the obligation to ensure a "fair and equitable treatment" to investments…the measures taken have completely altered the legal framework and economic investment in Repsol YPF, and Repsol and Repsol YPF Repsol Butano Gas. More...

May-16 -- April retail sales hint at slower spending pace
April sales at furniture and home furnishing stores increased 7.6 year over year, and total retail sales excluding food and auto rose 6.1 percent, seasonally adjusted.
U.S. retail and food services sales for the month, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $408 billion, an increase of 0.1% from the previous month and 6.4% above the year-ago period. More...

May-16 -- EU finance ministers agree on new bank rules
The amendments will be part of the EU assembly's negotiation position in talks with governments on the legislation.
"I think in general terms today's compromise does achieve that balance." More...

Tuesday (Update 1)

May-15 -- April retail sales hint at slower spending pace
Retail sales edged up 0.1 percent, held back by a decline in receipts from building materials and clothing stores, the Commerce Department said on Tuesday.
So-called core retail sales, which exclude autos, gasoline and building materials, rose 0.3 percent after increasing 0.6 percent in March. More...

May-15 -- Retail sales show weak growth in April, price index flat
The report, from the Labor Department, showed that the overall consumer price index, or CPI, remained unchanged in April after advancing 0.3 percent in March, matching economists estimate.
WASHINGTON May 15 (Reuters) - U.S. consumer prices were flat in April as households paid less for gasoline and natural gas, possibly giving the U.S. Federal Reserve more room to help economic growth should the recovery stumble. More...

May-15 -- Stock Futures Gain As European Economic Data Tops Views
U.S. stock futures on Tuesday rose after investors received some encouraging news about the German economy and awaited a deluge of economic reports from the U.S., including the closely watched consumer-price-inflation and retail-sales numbers.
NEW YORKConcerns about Greece's possible exit from the single-currency euro area helped push U.S. stocks to three-month lows, as the Dow industrials lost ground for the eighth time in nine sessions. More...

May-15 -- Home Depot sales disappoint
Home Depot shares fell more than 2% in early Tuesday trading.
The company expects sales to pick up later in the year. More...

May-15 -- With Avon not calling, Coty slams the door
Coty Inc withdrew its $10.7-B takeover bid for Avon Products Inc Monday, the stated reason; the World's largest cosmetics direct seller missed the deadline to start discussing a deal Coty proposed in March.
Last month Avon rejected Coty's original bid of about $10 billion, saying the offer undervalued the company. More...

May-15 -- Dick's Sporting 1st-qtr beats market expectations
"We had an exceptionally strong first quarter as we generated record earnings with a 50 percent increase in earnings per share on 15 percent sales growth," Edward W. Stack, chairman and chief executive officer, said in a prepared statement.
In a report to the council, Weir said under the city's Economic Development Incentive Policy Guidelines, the maximum amount the city can share with any business is 50 percent and the longest the pact can run is a decade. More...

May-15 -- Soybeans, Wheat, Corn Called to Open Higher on Weather
The notion of feeding wheat to livestock is an apostasy in Iowa, but it is common practice in most of the world.
Feed and residual use is projected at 230 million bushels, up 50 million from the 2011/12projection as favorable wheat prices relative to corn and larger HRW supplies boost summer quarter wheat feed and residual disappearance. More...

May-15 -- Europe dodges recession
Despite sovereign debt worries and unemployment raising to 10.9% in the eurozone, the EU and eurozone avoided falling into recession in the first quarter.
Lahnstein told Healey that the idea of a fixed exchange rate arrangement (then called the European Monetary System) was that other European countries, with higher rates of wage increases, would progressively become uncompetitive relative to the German export machine. More...

May-15 -- Carlyle Group 1Q Economic Earnings Down 26.5%
The Carlyle Group reports Q1 earnings.
WASHINGTON -- The Carlyle Group LP, which went public earlier this month, said Tuesday that its first-quarter net income fell 30 percent as expenses climbed and revenue fell. More...

May-15 -- Saks 1Q Net Rises 13%, Sales Growth Less Than View
The year-over-year earnings improvement was driven by a 4.8% comparable store sales increase, on top of a 10.2% comparable store sales increase in last year's first quarter, and continued gross margin rate improvement.
Adjusted earnings per share beat analysts' estimates, while revenues missed their estimates. More...

May-15 -- Google's offshore wind cable moves forward
After conducting a comprehensive review of input from stakeholders and the public, the U.S. Department of the Interior (DOI) has announced a major step forward for the development of the Atlantic Wind Connection (AWC), an offshore transmission system proposed for the Mid-Atlantic coast that would allow the integration of up to 7 GW of offshore wind energy onto the power grid.
The project would provide 7,000 megawatts of renewable energy to the heavily used power grid between Washington, D.C. and New York City. More...

May-15 -- EU Ministers Reach Deal To Boost Bank Capital Rules
The amendments will be part of the EU assembly's negotiation position in talks with governments on the legislation.
Under one model, Britain would be able to raise a bank's minimum capital from the 7 percent core tier 1 capital ratio - set by the so-called Basel III code - to 12 percent. More...

May-15 -- Hungary Heads for Recession as Austerity Shackles Growth
"So I expect the second quarter is going to be worse."
BRITAIN: Exports rose a sharp 5.8 percent in March, outpacing a 4.2 percent increase in imports, but the trade balance figure was little changed from February at -£8.6bn. More...

May-15 -- Intesa's risky loan provisions jump
The downgrade, which Moody's pinned on a weakening operating environment made worse by Prime Minister Mario Monti's tough austerity cure, came amid growing calls within the euro zone for a shift towards growth after months of strict fiscal discipline.
Two banks, UniCredit and Intesa Sanpaolo, together account for almost one-third of the Italian market. More...

May-15 -- SEC halts trading in 379 stocks to cut shell-company fraud
The trading suspensions, the most by the SEC in a single day, stem from the work of an agency task force that identified clearly dormant microcap stocks in 32 states and at least six countries, the SEC said today in a statement.
Federal stock regulators suspended trading in three Kansas City area companies’ stocks on Monday amid a crackdown on investment fraud. More...

May-15 -- Groupon shares jump on upbeat Q1 results
Its revenue surpassed Wall Street's expectations, and Groupon's stock shot up 17 percent after hours.
Groupon options are very expensive, implying about a 20 percent move in either direction on the earnings report. More...

May-15 -- US May Empire State Manufacturing Index (Text)
The New York Fed noted that the future indexes remained positive but were generally lower, suggesting a less optimistic outlook for the next six months.
Future indexes were noticeably lower than last month, indicating a positive but somewhat less optimistic view of the six-month outlook. More...

Tuesday

May-15 -- Coty withdraws $10.7 bln offer to buy Avon
Avon Products said Sunday it will respond to Coty Inc.' s latest offer within a week, more time than Coty's Monday deadline to decide whether to hold talks on a possible deal.
"We would expect Avon's step in breaking the stalemate to provide some (at least short-term) relief to the stock." More...

May-15 -- Market Preview: Risk Appetite Spoiled
U.S. stocks futures were trading lower, pointing to a weaker start on Wall Street as political gridlock continued in Greece, shaking investors' confidence in the troubled monetary union even as Germany's ruling conservative party lost a state election, underpinning widespread discontent among people in the euro-zone.
May 14 (Bloomberg) -- U.S. stock futures dropped, indicating the Standard & Poor's 500 Index will extend a two- month low, as Greece struggled to form a government amid growing speculation the nation may leave the euro region. More...

May-15 -- Groupon Soars Afterhours; China Rebounds and Mobile Rockets
The revenue figure exceeded the company's previously disclosed guidance of $510 million to $550 million.
Sales rose 89% to $559.3 million, up from $295.5 million a year earlier. More...

May-15 -- SEC halts trading in 379 stocks to cut shell-company fraud
The trading suspensions, the most by the SEC in a single day, stem from the work of an agency task force that identified clearly dormant microcap stocks in 32 states and at least six countries, the SEC said today in a statement.
The SEC named the three companies among 379 that it found to be “clearly dormant shell companies” that were “ripe for potential fraud. More...

May-15 -- Asian Stocks, Oil, Euro Fall on Europe Debt
Asian stocks fell, with a regional index posting its worst week in five months, amid concern Greece could be forced out of the euro and that austerity plans needed to contain the eurozone debt crisis will be derailed.
Chongqing Taiji Industry, Henan Topfond Pharmaceutical Co, and NanJing Pharmaceutical Co all surged the daily limit of 10 percent to 8.14 yuan, 7.50 yuan and 5.08 yuan respectively. More...

May-15 -- Oil Falls for Third Day as U.S. Stockpiles Seen Rising in Survey
Concerns that headwinds facing two major global economies, Europe and China, sent oil dropping in Asia early Tuesday.
June heating oil futures fell 3.41 cents to settle at $2.9295 a gallon, the lowest since Dec. 29, 2011. More...

May-15 -- Mid-Atlantic wind transmission line clears hurdle
After conducting a comprehensive review of input from stakeholders and the public, the U.S. Department of the Interior (DOI) has announced a major step forward for the development of the Atlantic Wind Connection (AWC), an offshore transmission system proposed for the Mid-Atlantic coast that would allow the integration of up to 7 GW of offshore wind energy onto the power grid.
The project would provide 7,000 megawatts of renewable energy to the heavily used power grid between Washington, D.C. and New York City. More...

May-15 -- Ex-Sprint partner LightSquared files for bankruptcy
WASHINGTON: Lightsquared, a firm whose an ambitious high-speed wireless broadband venture was thwarted by U.S. regulators, filed for bankruptcy protection on Monday, documents showed.
LightSquared, the ill-fated USD7 billion open-access Long Term Evolution (LTE) spearheaded by hedge-fund manager Philip Falcone, is teetering on the brink of bankruptcy, the Wall Street Journal (WSJ) reports, after talks with the start-ups lenders faltered. More...

May-15 -- Best Buy Chairman steps down after CEO probe
NEW YORK -- Best Buy said Monday its founder Richard Schulze is stepping down as chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and failed to alert the audit committee.
The electronics retailer also unveiled the results of an "independent' investigation into the allegations that Dunn had an improper relationship with a female employee. More...

May-15 -- Chesapeake Energy's Chief, Under Investor Pressure, Seeks to Win Over Skeptics
Chesapeake plans to repay the new loan by the end of December with proceeds from the sale of oilfields in Texas' Permian Basin and a joint-venture to develop the Mississippi Lime formation that straddles the Oklahoma-Kansas border.
McClendon didn't have much choice but to look for a lifeline. More...

May-15 -- Gold briefly touches 4-1/2 month low on euro
Gold prices fell to a 4-1/2-month low on Monday, hit by concerns about a worsening debt crisis in the euro zone following political deadlock in Greece which fuelled risk aversion and put pressure on the euro.
Now, however, the U.S. dollar is slowly but surely emerging as the go-to instrument for risk-averse investors. More...

May-15 -- Moody's Says More Offshore Funding Risk For Australian Banks
The agency also downgraded the hybrid ratings of Axis Bank and ICICI Bank to Ba3 from Ba2.
Kirsten Knight, a Moody's spokeswoman, said that the firm's schedule for "concluding bank rating reviews" hadn't changed. More...

May-15 -- Adobe Adds Cisco, Comcast Executives To Board
The company said on Monday that it added Cisco Systems Inc chief financial officer Frank Calderoni, Comcast Venture's managing director, Amy Banse, and Laura Desmond, global head of the Starcom MediaVest Group, to the board.
Adobe Systems Inc. (ADBE) added three more directors from the technology field to its board, including Cisco Systems Inc.' s (CSCO) finance chief and a senior vice president at Comcast. More...

May-15 -- Government approves 4 cities for new DC flights
DOT said Monday, American Airlines is trading a round-trip flight from Washington to Dallas for a flight to Los Angeles, Delta Airlines will trade a flight to LaGuardia for a round-trip flight to Salt Lake City, United Airlines will trade a flight to Chicago for a flight to San Francisco and U.S. Airways will trade a flight to Dallas for a trip to San Diego.
Alaska Air Group Inc., JetBlue Airways Corp., Southwest Airlines Co. and Virgin America were granted rights to each start a single daily flight. More...

May-15 -- Francesca's CFO fired over use of social media
Francesca's Holdings Corporation (Nasdaq: FRAN ) today announced that it has terminated for cause the employment of Chief Financial Officer Gene Morphis, based on an investigation by the Board of Directors with the assistance of outside counsel, which has found that he improperly communicated Company information through social media.
On Facebook, Morphis refers to himself as "a long-time financial guy" who has held chief financial officer positions at "eight (!) companies." More...

May-15 -- Rubber Plunges to 4-Month Low as Greek Impasse Saps Demand
Japan's Nikkei share average inched up 0.2 percent.
The president must call a new election if a compromise isn't reached, putting Athens closer on the brink of bankruptcy and possibly out of the euro bloc. More...

May-15 -- Chicagoans like Emanuel's job performance, though not overwhelmingly
Military land at O'Hare Airport acquired by the city in 1996 for private development that never happened will finally get the international cargo center that former Mayor Richard M. Daley envisioned when he made that $104 million investment.
Aeroterm LLC, the city's designated developer, will contribute $130 million to the project. More...

Monday (Update 2)

May-15 -- Groupon Earnings Top Forecast; Shares Jump
Analysts predicted a strong quarter for the deals company and pegged revenue at $530 million and operating profit, or earnings after operating costs, at $32.7 million.
According to FactSet, Street consensus is for second-quarter revenue of $560.3 million. More...

May-15 -- LightSquared Files Chapter 11 "To Resolve Regulatory Issues"
LightSquared has until 5 p.m. ET today to work out a deal with lenders that would keep it from being forced into bankruptcy, but reports say the company is drawing up its own plans for voluntary Chapter 11 bankruptcy protection in case those negotiations falter.
Falcone also had served on LightSquared's board. More...

May-15 -- Wall Street Gripped by Euro Dread; S&P Hits February Closing Low
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012, as political tension in Greece heightened concern about Europe 's debt crisis and JPMorgan Chase & Co. opnbrktJPMclsbrkt 's $2 billion trading loss weighed on shares of banks.
Shortly after Friday's opening bell, JPMorgan Chase & Co. shares dropped more than 9 percent, while Citigroup Inc. shares fell 4 percent. More...

May-15 -- Icahn turns up the heat on Chesapeake Energy
"We will get our assets sales done," Chief Executive Aubrey McClendon told analysts and investors on a conference call.
Last year, Chesapeake sold gas assets to Australian mining firm BHP Billiton for $4.75 billion. More...

May-15 -- Ally aims to end mortgage woes with ResCap filing
Fallen subprime mortgage lender Residential Capital LLC filed for Chapter 11 bankruptcy protection Monday as parent Ally Financial Inc., an auto lender that's majority-owned by U.S. taxpayers, struggles to pay back its $17.2 billion bailout.
Ally also will make the first bid on up to $1.6 billion worth of troubled mortgages that will be auctioned. More...

May-15 -- Avon Products to mull Coty's $10.7 billion takeover bid
Avon Products said Sunday it will respond to Coty Inc.' s latest offer within a week, more time than Coty's Monday deadline to decide whether to hold talks on a possible deal.
Besides, the revenue from Asia Pacific fell to 15.4 per cent in first quarter of 2012 from 23 per cent in same period last year. More...

May-15 -- Groupon Generates 89% Leap in Sales, 1Q EPS Beat
Online deals company Groupon is reporting a smaller net loss and sharply higher revenue for the first quarter, helped by increased demand from a growing customer base.
"Revenue came in much higher than expected and margins were higher," said Sameet Sinha, an analyst at B. Riley & Co. "The domestic side of Groupon's business did well," he added. More...

May-15 -- SEC Halts Trades in 379 Shell Companies in Fraud-Prevention Push
Posted by Paul Murphy ]] Paul Murphy on May 14 16:35.
Once a company is suspended from trading, it cannot be quoted again until it provides updated information including accurate financial statements. More...

May-15 -- 'Au'-sterity for gold as prices plunge
Gold has all but lost its shine with the yellow metal plunging to $1,559 per ounce this afternoon, a day after witnessing its worst weekly drop this year.
Crude oil futures prices were solidly lower Monday and hit another 4.5-month low of $93.65 overnight. More...

May-15 -- Best Buy founder to step down as chairman
The Richfield, Minn. -based retail giant said Schulze is stepping down as a reflection of that and will be replaced by 14-year Best Buy director and current audit committee chairman Hatim Tyabji at the conclusion of Best Buy's annual meeting on June 21.
The board publicly released the results of an independent investigation into personal conduct allegations involving former CEO Brian Dunn, who resigned in April. More...

May-15 -- Stronger greenback drives oil prices lower
Oil fell to the lowest price in almost five months in New York and Brent crude slid in London after Saudi Arabia's oil minister said the European benchmark grade should trade at about $US100 a barrel.
In 2035, the average real price of crude oil in the Reference case is about $145 per barrel in 2010 dollars, or about $230 per barrel in nominal dollars. More...

May-15 -- Mid-Atlantic wind transmission line clears hurdle
After conducting a comprehensive review of input from stakeholders and the public, the U.S. Department of the Interior (DOI) has announced a major step forward for the development of the Atlantic Wind Connection (AWC), an offshore transmission system proposed for the Mid-Atlantic coast that would allow the integration of up to 7 GW of offshore wind energy onto the power grid.
Hayes and other officials have urged Congress to extend a production tax credit for wind energy that expires at the end of the year. More...

May-15 -- Coca-Cola tries again with mid-calorie sodas
The Coca-Cola Co. is trying out mid-calorie versions of its Sprite and Fanta sodas months after competitor PepsiCo Inc. launched its own limited-calorie Pepsi Next.
To accomplish the calorie cut, the beverages will be sweetened with sugar (presumably from HFCS), Truvia and artificial sweeteners. More...

May-15 -- Dominion to face extra oversight at Va nuke plant
The North Anna nuclear power plant in Louisa County faces increased oversight from the U.S. Nuclear Regulatory Commission as the result of a violation of low to moderate safety significance linked to the maintenance of the plant's emergency diesel generators.
Neither type of Green energy will ever replace a coal or gas or nuclear plant. More...

May-15 -- Corn, Soybean, Wheat Seeding Accelerates on Drier US Weather
Some traders who are turning bearish on Corn may perhaps wish to explore bear spreads in Corn futures for example, buying December 2012 Corn and selling July 2012 Corn.
December wheat futures traded on ICE were down 2-3/4 cents at $6.32-3/4 a bushel. More...

May-15 -- US airlines March on-time rate down from February
There were no tarmac delays of more than four hours on international flights in March.
Chicago's No. 3 carrier, Southwest Airlines, performed far better. More...

May-15 -- Banks set to argue MBIA split was unreasonable
As I feared, the entire three-hour kick-off hearing was consumed with arguments on what shape the special state-law proceeding, known as Article 78, should take, as well as tedious back-and-forth about whether certain evidence should be admitted.
The bank could well be right. More...

Monday (Update 1)

May-14 -- Euro Worries Knock Stocks Lower
Financial spreadbetters expected Britain's FTSE 100 to open 39 to 43 points lower, or as much as 0.8 percent.
Germany has not opposed the idea but insists it cannot be funded by extra government spending that would drive debt back up. More...

May-14 -- Best Buy Probe Finds Dunn Didn't Misuse Funds
Best Buy admitted in the release that Dunn violated company policy "by engaging in an extremely close personal relationship with a female employee that negatively impacted the work environment."
The Board also publicly released the results of an independent investigation into personal conduct allegations involving former CEO Brian Dunn, who resigned in April. More...

May-14 -- Crude Hits New 2012 Low
At the time, WTI was trading at just under $100 while Brent Crude, which makes up 60 percent of the world oil market, was trading $20 higher.
The price of oil fell Friday after reports that China's economy appears to be slowing down. More...

May-14 -- Avon Rallies as Board Requests Week to Respond to Coty
AVON said last night it is considering Coty's $10.7bn (£6.66bn) takeover bid and expects to respond to the smaller firm's advances within a week.
Coty sent Avon a letter raising the price about 6.5% to $24.75 a share, or almost $10.7 billion. More...

May-14 -- Mexico March Industrial Output Growth Slows Sharply
The figures stood in contrast with German data last week showing output in the eurozone's largest economy up 2.8% for the month, underlying the division in the bloc.
Economists polled by Reuters last week estimated the euro zone economy shrank 0.2 percent in the first quarter, after shrinking 0.3 percent in the fourth quarter of last year. More...

May-14 -- Ally's mortgage unit files for bankruptcy
Ally Financial, a bank holding company that is 74 percent owned by the U.S. Treasury as part of a $17.2 billion bailout, said the company expects to lose $1.3 billion as part of ResCap's bankruptcy restructuring.
Ally still owes the government about $12 billion, counting dividend payments by the lender and sale of some securities by the Treasury. More...

May-14 -- Golfsmith Agrees To $97M Buyout By Canada's Golf Town
TORONTO and AUSTIN, Texas, May 14, 2012 (GLOBE NEWSWIRE) -- Golf Town, Canada's largest specialty golf retailer, and Golfsmith International Holdings, Inc. (Nasdaq:GOLF), announced today that they have signed a definitive merger agreement, pursuant to which Golf Town will acquire Golfsmith, a leading specialty golf retailer in the United States, for U.S. $6.10 per share in cash.
Sue Gove, President, COO and CFO of Golfsmith will become the President and COO of the combined company and Ron Hornbaker will assume the role of EVP-Stores. More...

May-14 -- US stocks drop sharply as Europe woes deepen
NEW YORK - U.S. stock futures dipped Monday as Europe wrestles with what to do next about the financial crises in Greece and more disconcerting economic data emerges from China.
More...

May-14 -- Spain Raises Nearly $3.8 Billion In Debt Auction
MADRID (AP) -- Spain managed to raise 2.9 billion ($3.8 billion) in a short-term bond auction on Monday, but concerns over the future of the euro currency union pushed investors to demand higher interest rates to lend the money and caused the Madrid stock market to plummet.
The country's benchmark Ibex stock index plunged 2.8 per cent in morning trade. More...

May-14 -- Gannett Searches For New Financial Chief As Saleh Resigns
Saleh will report to CSC President and CEO Mike Lawrie, and will be responsible for CSC's global financial operations.
Before joining Walt Disney, Saleh had a 12-year career at Honeywell, Inc. (HON) where he was vice president and treasurer from 1994 to 1997 and held other various leadership positions in finance, treasury, investor relations, strategic planning and operations. More...

May-14 -- US STOCKS-S&P 500 faces key test, Wall St set to slide
U.S. stock index futures pointed to a lower open on Wall Street on Monday, with S&P 500 futures down 1 percent and contracts for the Dow Jones and Nasdaq 100 down 0.9 percent at 0853 GMT. European shares hit new four-month lows on Monday as Greece's failure to form a government heightened fears it could quit the euro zone, while signs that China was struggling to shore up its economy cast a shadow on global growth prospects.
U.S. Stocks: Wall Street fell driving the Standard & Poor's 500 Index to a 2 month low, as an early decline in banks led by JPMorgan (NYSE:JPM) Chase & Co.' s $2-B trading loss overshadowed an increase in a gauge of consumer confidence. More...

May-14 -- BMC Software rebuffs Elliott with poison pill
Elliott has also notified the company of its intent to nominate a slate of five nominees to stand for election at the company's 2012 Annual Meeting of Stockholders.
Houston-based BMC Software , the developer of IT management software, is looking to stave off what looks like a hostile takeover of the company this morning. More...

May-14 -- Silver Wheaton profit jumps 20%
The company, which helps finance mine construction by giving miners upfront cash in exchange for receiving a portion of the asset's future silver production at a set price, said quarterly revenue had risen 26 percent to $199.6 million.
Silver equivalent sales were 6.1 million ounces, higher than 5.9 million ounces of silver a year ago. More...

May-14 -- China Yuan Down Late On PBOC Guidance; Investors Turn Bearish
SHANGHAI stocks may rise this week as the People's Bank of China cut the amount of cash that banks must set aside as reserves, pumping money into the financial system to bolster a slowing economy.
Bank of America-Merrill Lynch has cut China's second-quarter GDP growth forecast to 7.6percent, from the previous 8.5percent. More...

May-14 -- Chesapeake Energy receives $3 billion loan
Chesapeake plans to repay the new loan by the end of December with proceeds from the sale of oilfields in Texas' Permian Basin and a joint-venture to develop the Mississippi Lime formation that straddles the Oklahoma-Kansas border.
Prices have risen 32 percent as power generators used it as a substitute for coal. More...

May-14 -- Brazil Real Opens Weaker As Euro-Zone Troubles Rattle Markets
Tombini told O Estado de Sao Paulo that Brazil's economy, which almost slid into recession in late 2011, is entering a warm-up phase and should pick up steam in the second half of 2012, but a recently worsened outlook abroad will hurt exports.
SAO PAULO (Dow Jones)--Financial market analysts and economists reduced their forecasts for the benchmark Selic interest rate for the end of this year and also for the next year, as the monetary authority gave strong signs that it will continue reducing the base rate. More...

May-14 -- Stocks fall in Europe, Asia amid Greek turmoil
Wall Street also appeared set for a lower opening, with Dow Jones industrial futures down 0.8 percent to 12,686 and S&P 500 futures losing 0.9 percent to 1,337.30.
Copper declined to a four-week low on concerns China's bank reserve cut signaled a slowdown in the world's second-largest economy may be steeper than expected and amid speculation Greece may exit from the euro area. More...

May-14 -- J.P. Morgan shares extend drop, pulling down banks
Besides marking a weekly decline of 11.5%, it also wiped $14.4 billion off the company's market value.
The total market capitalization reached $141.26 billion. More...

Monday

May-14 -- Big Changes Ahead for Yahoo After the CEO Resigns
Ross Levinsohn, the company's global media head, has been appointed as interim CEO. Fred Amoroso was also named as Yahoo's nonexecutive chairman, replacing Roy Bostock.
The appointment of the new directors ends a potentially disruptive battle with Loeb, who was waging a campaign to gain four seats on the company's board. More...

May-14 -- China May Cut Reserve Ratio Further To Boost Economy - Paper
Beijing, May 13 (TruthDive) : China took a decision to cut banks reserve requirement ratio (RRR), effective from May 18.
BEIJING, May 14 (Xinhua) -- The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, opened at 725.52 points on Monday, up 0.62 percent from the previous close. More...

May-14 -- FOREX-Euro hits 4-month low on Greece uncertainty
BRUSSELS - The European Union says that a recession brought on by a crippling debt crisis could give way to a modest recovery later this year - provided governments persevere on the tough austerity track.
Greek withdrawal "is not necessarily fatal, but it is not attractive," European Central Bank Governing Council member Patrick Honohan said in Tallinn on May 12. More...

May-14 -- China RRR Cut May Limit Oil's Fall This Week: Survey
At the time, WTI was trading at just under $100 while Brent Crude, which makes up 60 percent of the world oil market, was trading $20 higher.
IEA also said that increased production in Iraq, Nigeria and Libya helped boost world oil supplies by 600,000 barrels per day in April. More...

May-14 -- Stocks: A Facebook effect?
As Facebook winds down an obligatory pre-IPO road show and prepares for its first day of public stock trading May 18 as "FB" on the NASDAQ exchange, investors and potential investors are thinking way beyond just how high the stock price will jump on the first day.
On Friday of course, all eyes will be on the Nasdaq when trading in Facebook stock is expected to kick off. More...

May-14 -- Asian Shares Mixed After China Easing; Euro Drops On Political Worries
HONG KONG May 14 (Reuters) - Hong Kong shares could start the week higher on Monday, with China growth proxies in focus after the Chinese central bank moved to bolster lending to counter signs of a slowdown in the economy.
Asian stocks fell, with a regional index posting its worst week in five months, amid concern Greece could be forced out of the euro and that austerity plans needed to contain the eurozone debt crisis will be derailed. More...

May-14 -- Sub-Saharan Africa's `Strong' Growth to Risks, IMF Says
JOHANNESBURG (Reuters) - Sub-Saharan Africa's economies will expand at a slower rate in 2012 than earlier projected, undermined by global financial distress and a sluggish recovery in South Africa, the International Monetary Fund (IMF) said on Monday.
Economies reliant on non-renewable resources are experiencing faster growth but are also suffering the worst volatility in exports, revenues and GDP expansion, the IMF said. More...

May-14 -- Florida postal worker says Yemen mystery package made him ill
ORLANDO, Fla. A postal worker says a mysterious leaking package from Yemen has left him seriously ill, but the U.S. Postal Service denies the package existed.
Within two weeks of the Feb. 4, 2011, incident, Lill came down with flu symptoms. More...

May-14 -- Spain short-term debt costs to stay high after bank plan
MADRID, May 13 (Reuters) - Spanish banks unveiled fresh funds on Sunday to meet new government demands aimed at cleaning up the country's sickly property market and easing international markets' concerns about the troubled financial sector.
The jitters reflect wider fears over the state of Spain's banking system and the council's nervousness after it was hit by the Icelandic banks' collapse in 2008. More...

May-14 -- Report: Fire at Cuba charter flight company in South Fla. was deliberately set
The Coral Gables Fire Department said in a report that investigators found a disposable lighter, the remains of a green bottle, and a piece of asphalt after the April 27 fire at the Airline Brokers Co. Those items indicate the "potential use of a projectile to breach the building window, and the use of a liquid accelerant incendiary device in this fire," the report says.
Coral Gables fire officials referred all inquiries to the state fire marshal's office, which did not return requests for comment by phone or e-mail Sunday. More...

May-14 -- Avon to consider Coty's $10.7 bln takeover bid
REUTERS - Avon Products Inc ( AVP.N ) on Sunday said it told Coty Inc that it would consider the smaller company's $10.7 billion takeover bid and it expected to respond within a week.
Avon had rejected all prior offers from Coty, saying the company's value could rise under a new CEO rather than as part of Coty. More...

May-14 -- LightSquared Moves Toward Bankruptcy
There were also a number of other terms separating the two sides, the people said.
Hedge-fund manager Philip Falcone's LightSquared Inc. venture was preparing Sunday to file for bankruptcy protection after negotiations with lenders to avoid a potential debt default faltered, said people familiar with the matter. More...

May-14 -- Questions and answers about Horseshoe Casino Cleveland
Joshua Gunter, The Plain Dealer The Horseshoe Casino Cleveland is approaching opening day, and some compulsive gamblers are worried about having table games and slot machines close at hand.
As the public face of the state's first casino, Glover has become a regular fixture at gatherings around town, talking up the tables, the casino's role in the community and much-discussed job potential. More...

May-14 -- Infineon Names Reinhard Ploss To Succeed Peter Bauer As CEO
The supervisory board of Infineon Technologies AG named Reinhard Ploss as Peter Bauer's successor to the post of CEO. Ploss is a member of the Infineon Management Board and is currently responsible for production, development, technology and human resources.
Infineon Technologies AG (IFX), Europe's second-largest semiconductor maker, said Chief Executive Officer Peter Bauer will step down because of "severely worsening" osteoporosis and appointed a board member as successor. More...

May-14 -- Japan May Face Power Shortages This Summer
TOKYO (Kyodo) -- The government is considering asking companies and households in wide areas of central and western Japan to cut electricity use by around 5 percent of the maximum demand recorded during the very hot summer of 2010, sources close to the issue said Saturday.
The recent signing of the contract by the Prime Minister with the French company EDF for the Hinkley nuclear reactor is a welcome indication of the Government's intent to make clear that low carbon nuclear power is high on the Government's energy policy agenda. More...

May-14 -- Total CEO Says UK North Sea Gas Leak Could End Within Days
LAGOS, Nigeria -- French oil company Total SA said Sunday it stopped a natural gas leak at one of its plants in Nigeria's crude-rich southern delta after 54 days, an emergency that forced the firm to shut down the field and evacuate the area.
Washingtologists consistently post thought-provoking, timely comments on events, communities, and trends in the Washington area. More...

May-14 -- Unit of Ally, ResCap, Said to Plan Bankruptcy
ALLY Financial's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said yesterday, in a move that could help the U.S. taxpayer-owned car lender shed its troubled mortgage business but also spur drawn-out legal fights.
ResCap has secured a so-called debtor-in-possession loan of about $1.45 billion from Barclays PLC, which would allow it to keep operating under bankruptcy protection while it works to sell assets. More...

May-14 -- Habitat workers mark National Women Build Week
Saws, drills and hammers were brand new concepts for some Habitat for Humanity volunteers.
Habitat is always looking for volunteers and always need donations. More...

May-14 -- Nigeria fines mobile phone carriers Airtel, Etisalat, Globacom and MTN $7.3M ...
Nigeria has fined four mobile phone carriers a total of $7.3 million over poor service and call quality in Africa's dominant market.Reuben Muoka of the Nigeria Communications Commission said Sunday that Bharti Airtel Ltd. of India, Abu Dhabi-based Etisalat, local firm Globacom Ltd. and South Africa-based MTN Group Ltd. all had been fined.
The fines come for poor service, dropped calls and bad line quality in March and April, Muoka said. More...

Sunday (Update 2)

May-14 -- Yahoo confirms CEO is out after resume scandal
Fred Amoroso will take over as chairman of the company's board in place of Roy Bostock.
Third Point LLC, a hedge fund that owns 5.8% of Yahoo's common stock, was the most aggressive at trying to get Thompson ousted. More...

May-14 -- Global Economy Weekahead: Back into the euro-zone storm
BRUSSELS - The European Union says that a recession brought on by a crippling debt crisis could give way to a modest recovery later this year - provided governments persevere on the tough austerity track.
The European Commission downgraded growth forecasts for Spain and Greece; China reported weak retail sales, bank lending and industrial output; and India's industrial output slumped for the first time in five months. More...

May-14 -- Graduates get a degree in debt
Just a few years prior, borrowing money for school was at an all-time low at 3.4 percent, which many perceived as a good investment, especially when compared with other types of investments at the time, according to Mary Bruce in the ABC News article, "Obama Highlights "Good News' In Jobs Report, Renews Student Loan Push."
On April 25, 2012, the unprecedented debt of American students surpassed the trillion-dollar mark. More...

May-14 -- WSJ: As Beijing Moves To Spur Growth, Its Tools Are Limited
Beijing, May 13 (TruthDive) : China took a decision to cut banks reserve requirement ratio (RRR), effective from May 18.
Whatever Beijing's fiscal response, few expect stimulus spending modeled on the 4 trillion yuan ($635 billion) splurge unveiled in the wake of the 2008-09 global financial crisis, which buoyed growth but triggered spikes in inflation and real estate speculation that the government spent two years correcting. More...

May-14 -- Apple-Dow 30 marriage? One's too hot for the other
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012, as political tension in Greece heightened concern about Europe 's debt crisis and JPMorgan Chase & Co. opnbrktJPMclsbrkt 's $2 billion trading loss weighed on shares of banks.
Banks continued to lose ground following Thursday's announcement of a $2 billion trading loss from JPMorgan. More...

May-14 -- Amid Signs of Economic Weaknesses, China to Free Cash for Lending
China also said Friday that the consumer price index, the main gauge of inflation, rose 3.4 percent year on year in April, easing from 3.6 percent in March.
China's economy had grown 8.1 percent in the first quarter, the weakest pace since 2009. More...

May-14 -- Saudi says $100 per barrel great price for oil
At the time, WTI was trading at just under $100 while Brent Crude, which makes up 60 percent of the world oil market, was trading $20 higher.
Real GDP grew by 6.8 per cent last year compared to 4.6 per cent in 2010, the report said, adding that the sharp expansion in nominal and real terms was driven by the surge in oil prices, higher crude production, robust domestic demand, and prudent macroeconomic policies. More...

May-14 -- Cosmetics seller Avon says it's now considering buyout offer from smaller Coty ...
"Avon's Board expects to respond within a week."
The fragrance and beauty company first unveiled a $10 billion bid for Avon in early April. More...

May-14 -- Postal worker claims Yemen package leaked, made him sick -- but Post Office ...
ORLANDO, Fla. -- A postal worker says a mysterious leaking package from Yemen has left him seriously ill, but the U.S. Postal Service denies the package ever existed.
Lill headed toward the center of the sorting floor -- an area workers call "the belly" -- to investigate. More...

May-14 -- A Facebook effect?
After last weekend's elections in Greece yielded political chaos there, global investors are worried that instability could jeopardize Greece's bailout agreement and its place in the eurozone.
More...

May-14 -- EU's Rehn: Spain banking plan should dispel doubts
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
As well as concerns about Spain's deficit, the forecasts are likely to show unemployment in the country, already hovering just below 25 percent, is set to go on climbing at least in the short-term, compounding the recession. More...

May-14 -- Infineon CEO to step down over health troubles
I feel that I have a duty to my health, my family and the company to step down from my current position.
"Peter Bauer stands for the turnaround of Infineon," said Sandeep Deshpande, an analyst at JPMorgan in London. More...

May-14 -- LightSquared edges closer to bankruptcy filing: sources
Negotiations between LightSquared and its lenders remained "far apart" over the weekend, leaving the beleaguered would-be data carrier likely to file for bankruptcy protection Monday, The Wall Street Journal reported Sunday, citing anonymous sources involved in the negotiations.
The deadline has been extended twice. More...

May-14 -- Spaniards keep up anniversary rally against crisis
Masses of chanting "indignant" activists poured into the streets across Spain on Saturday in a vast show of strength one year on from igniting a global protest against economic injustice.
Spanish indignant protesters take part in a "siesta" nap at the Cibeles square in Madrid during a national strike in March. More...

May-14 -- Women build and celebrate Mother's Day
Women volunteers worked on nine new Habitat for Humanity houses in Liberty City, Saturday.
Mortgage payments made by families are then used to build more homes in the community. More...

May-14 -- Japan Facing Power Shortfall This Summer
The government plans to ask households and businesses in the service areas of four electric power companies in western Japan to cut electricity consumption by 5 percent this summer to assist in supplying surplus electricity to Kansai Electric Power Co., according to government sources.
If things had reached that level, not only would the public have had to face hardships but Japan's very existence would have been in peril." More...

May-14 -- New Rules May Curtail Some Fees in Mortgage
Some experts say the rules could end up backfiring on borrowers.
The CFPB's interest in Corinthian is likely to draw plenty of attention, mostly because of expectations by consumer advocates (and fears of for-profit officials) that the agency would pursue the sector. More...

May-14 -- Nvidia Soars After Forecast Tops Estimates: San Francisco
Currently, Tegra makes up only 14 percent of the company's overall revenue.
On the strength of the company's current business practices Nvidia expected Q2 sales of $990 million to $1.05 billion, that number would beat analyst expectations of $976 million. More...

Sunday (Update 1)

May-13 -- It's Time to Solve the Student Loan Crisis
Just a few years prior, borrowing money for school was at an all-time low at 3.4 percent, which many perceived as a good investment, especially when compared with other types of investments at the time, according to Mary Bruce in the ABC News article, "Obama Highlights "Good News' In Jobs Report, Renews Student Loan Push."
College pricing is complicated by constant tuition increases, a vast array of grants and loans and a financial-aid system that discounts tuition for most students based on opaque formulas. More...

May-13 -- China moves to spur growth
Analysts said the cut should help pump an additional 400 billion yuan ($63 billion) of liquidity into the economy.
"We are still optimistic that China will pick up later in the year, especially since low inflation gives policymakers room to loosen policy further," said Daniel Martin, an economist with Capital Economics in Singapore. More...

May-13 -- Apple-Dow 30 marriage? One's too hot for the other
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012, as political tension in Greece heightened concern about Europe 's debt crisis and JPMorgan Chase & Co. opnbrktJPMclsbrkt 's $2 billion trading loss weighed on shares of banks.
Stocks closed lower after JPMorgan's surprise $2 billion trading loss. More...

May-13 -- Facebook IPO Said to Get Weaker-Than-Forecast Demand
May 7 (Bloomberg) -- Arvind Bhatia, an analyst at Sterne Agee & Leach Inc., talks about the outlook for Facebook Inc.' s initial public offering, the company and its shares.
Facebook has arranged a meeting in Palo Alto , California , for the end of the week. More...

May-13 -- Naimi: Brent better around $100 a barrel
At the time, WTI was trading at just under $100 while Brent Crude, which makes up 60 percent of the world oil market, was trading $20 higher.
Oil supply outweighs demand by 1.3 million to 1.5 million barrels a day, al-Naimi said today. More...

May-13 -- Etisalat Nigeria: lack of power, sabotage affects service
LAGOS, Nigeria (AP) -- Regulators in Nigeria have fined four mobile phone carriers a total of $7.3 million over poor service in a nation that depends on cellular phones for communications, a spokesman said Sunday.
Airtel, Etisalat, MTN and Glo are expected to pay up the fines by May 21 or face further pernalties of N2.5 million daily, according to the Vanguard. More...

May-13 -- Euro was troubled from birth, experts say
Now the crisis can best be viewed in macro terms - the European future is being delineated with a broad brush.
European officials identified Greece as a problem from Day One of eurozone discussions. More...

May-13 -- Wholesale prices down
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
The core index has increased 2.7 percent during the 12 months ended in April, down only slightly from March.Modest wholesale inflation reduces pressure on manufacturers and retailers to raise prices. More...

May-13 -- Newton hosts bike ride to benefit Habitat for Humanity
PITTSFIELD -- Forget bouquets -- dozens of locals honored their mothers this weekend with dirt.
Women Build is a program that encourages women to learn construction skills. More...

May-13 -- Speak up on mortgage points and fees
Some experts say the rules could end up backfiring on borrowers.
The CFPB has managed to put up some good information on mortgages, credit cards and student debt. More...

May-13 -- Osberg out as PMN CEO, Hall in
Gregory J. Osberg stepped down as publisher and chief executive of Philadelphia Media Network on Friday afternoon, less than six weeks after the company was purchased by a group of local owners.
More...

May-13 -- What Yahoo CEO's false bio tell us about resume fraud
Saying that "we take no joy in witnessing this carnage," activist investor Daniel Loeb repeated his demand Wednesday that Yahoo dump CEO Scott Thompson over discrepancies in his academic record and replace him with an interim CEO. "It appears very clear to us - and to many corporate governance experts, Yahoo! employees, and fellow Yahoo! shareholders - that Mr. Thompson's fantasy degree was in no way an 'inadvertent error,' " Loeb said in a letter from his Third Point LLC hedge fund addressed to Yahoo's board of directors.
Yahoo CEO apologizes over degree misstatement as angry investor demands more information. More...

May-13 -- Dying TV Biz: Panasonic Views $10B Annual Net Loss
The $9.67 billion shortfall, one of the worst-ever losses for a non-financial Japanese firm, comes as the consumer electronics giant reshuffles its boardroom and overhauls its business in a bid to return to profitability.
Returning to profitability is the first priority for Energy Company, which will shift to a profitable management structure. More...

May-13 -- Walgreen's Loss Is CVS's Gain
THE QUARTER: Overall, Express Scripts earnings fell 18 percent compared to last year's first quarter.
Motley Fool newsletter services have recommended buying shares of Express Scripts Holding and SXC Health Solutions. More...

May-13 -- Nvidia Soars After Forecast Tops Estimates: San Francisco
Currently, Tegra makes up only 14 percent of the company's overall revenue.
On the strength of the company's current business practices Nvidia expected Q2 sales of $990 million to $1.05 billion, that number would beat analyst expectations of $976 million. More...

May-13 -- Gas drillers wrangle over NY limitations; opponents argue for more limits or ...
The report, " Marcellus Shale and Local Collection of State Taxes: What the 2011 Pennsylvania Tax Data Say ," suggests that areas of shale development outperform sales tax collections in countries with little or no drilling activity.
The average rise in income in high-activity Marcellus counties was fueled by increases in salaries and wages (3.3 percent); rights, royalties and patents (441.5 percent), which reflects gas lease and royalty payments; and net profits (1.4 percent). More...

May-13 -- Kaiser Permanente, unions agree to 3-year national contract
MANHATTAN BEACH, Calif. -- SEIU-UHW members are celebrating a tentative national agreement reached with Kaiser Permanente early this morning that provides raises and maintains workers’ full benefits, but also contains unique new provisions to promote better health among Kaiser employees as a way of lowering costs and modeling healthy lifestyles to the public.
The agreement, struck about 3 a.m., affects some 100,000 members of the Coalition of Permanente Unions, including nurses, pharmacists, service workers, technicians, psychologists and lab scientists, according to a joint statement from the company and its unions. More...

Sunday

May-13 -- Student loan blues
Just a few years prior, borrowing money for school was at an all-time low at 3.4 percent, which many perceived as a good investment, especially when compared with other types of investments at the time, according to Mary Bruce in the ABC News article, "Obama Highlights "Good News' In Jobs Report, Renews Student Loan Push."
The Chancellor's 'charge more' instate tuition skyrocketed fees by an average 14% per year from 2006 to 2011-12 academic year. More...

May-13 -- Amid Signs of Economic Weaknesses, China to Free Cash for Lending
China also said Friday that the consumer price index, the main gauge of inflation, rose 3.4 per cent year on year in April, easing from 3.6 per cent in March.
China's trade with foreign countries has also slowed recently, feeling the impact of Europe's woes and the U.S. economy's sluggish growth. More...

May-13 -- Dow Suffers Worst Week This Year
Dow up 0.05 pct, S&P up 0.11 pct, Nasdaq up 0.52 pct By Ryan Vlastelica NEW YORK, May 11 (Reuters) - U.S. stocks were little changed on Friday but remained on track for a second week of declines after JPMorgan Chase & Co revealed a trading loss of at least $2 billion from a failed hedging strategy.
The news sent shares of the Dow component down 8 percent to $37.47 in premarket trading, and is the latest hurdle for a sector already besieged by the sovereign debt crisis in Europe and fears of slowing growth globally. More...

May-13 -- Investment community gives Tesla Motors vote of confidence
Tesla Motors ( TSLA ) isn't expected to turn a profit for a year.
As Of June 30, 2011, Tesla Had Lost $522.8 Million, has borrowed $465 million from the dept of energy and now we are going to subsidize the purchase of the vehicles to the tune of $7500 each?? Wow, that's a business plan that only the federal government could love. More...

May-13 -- Here's Why Procter & Gamble Is Moving Its Beauty Business From The US To Singapore
Cincinnati-based P&G, whose products include Olay creams and cleansers, CoverGirl makeup, Secret deodorant and SK-II skin-care, said it was making the move to be closer to Asia's booming beauty market, according to Fox News .
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May-13 -- Spain, France get EU budget alert, Greece agonises
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
Compared to the autumn forecast, annual growth has been revised down by 1.8 pps. to 0.5% for the current year and by 1.1 pps. to 1.9% in 2013. More...

May-13 -- Speak up on mortgage points and fees
Some experts say the rules could end up backfiring on borrowers.
The CFPB has managed to put up some good information on mortgages, credit cards and student debt. More...

May-13 -- Kaiser Permanente, unions agree to 3-year national contract
The three-year agreement, reached between Kaiser Permanente and the Coalition of Kaiser Permanente Unions (CKPU), provides for annual pay raises of 3 percent, maintains fully paid family health coverage, defined-benefit pensions, and retiree healthcare for the life of the agreement, and improves dental care.
Use of this Site constitutes acceptance of our User Agreement (updated 3/14/12) and Privacy Policy (updated 3/14/12). More...

May-13 -- CREDIT MARKETS: Global Firms Sell Bonds As Treasury Rally Ends
NEW YORK: U.S. Treasuries prices fell on Thursday, pulling benchmark yields up from three-month lows, as the flow of bad news from Europe eased and a lower-than-expected number of claims for U.S. jobless benefits dimmed the allure of low-risk government bonds.
Thirty-year Treasury yields dropped three basis points to 3.01 percent. More...

May-13 -- Contingency plan for Southern California power back on track
San Diego Gas & Electric and Southern California Edison will pay $2.5 million a month for electricity capacity from the Huntington Beach plant operated by AES Corp., the California ISO reported.
A thorough review by the NRC, which regulates nuclear plant safety in the United States, typically isn't required unless the company running the plant concludes that the changes create a safety risk. More...

May-13 -- Wholesale prices down
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
The core index has increased 2.7 percent during the 12 months ended in April, down only slightly from March.Modest wholesale inflation reduces pressure on manufacturers and retailers to raise prices. More...

May-13 -- US sees surge in corn stocks, fewer soybeans
The reason for the projection of lower prices is right out of Econ 101; while U.S. and world corn supplies have been tight the last two years, leading to record prices in the U.S., expected surges in production here and abroad are likely to almost double U.S. surplus stocks to 1.9 billion bushels after the 2012 crop is harvested.
Some analysts are now predicting that 2012/13 world wheat ending stocks will be equal to or slightly higher than 2011/12 ending stocks. More...

May-13 -- Rate on 30-year mortgage hits record 3.83 percent
The scaled-down pay package came in response to mounting political pressure over controversial multi-million dollar salaries given to executives at the companies, which have soaked up about $151 billion in taxpayer aid.
In some higher cost areas, borrowers may be tempted to take an FHA mortgage which now has higher loan limits up to $729,500. More...

May-13 -- Asia Currency Options Least Bearish in Year on Yuan Risk
Asian stocks fell, with a regional index posting its worst week in five months, amid concern Greece could be forced out of the euro and that austerity plans needed to contain the eurozone debt crisis will be derailed.
Sony Corporation (6758) propped 11% to the lowest in more than 30 years following the maker of PlayStation game consoles and Bravia televisions predict profit that wrapped analyst projections by half. More...

May-13 -- What Yahoo CEO's false bio tell us about resume fraud
Saying that "we take no joy in witnessing this carnage," activist investor Daniel Loeb repeated his demand Wednesday that Yahoo dump CEO Scott Thompson over discrepancies in his academic record and replace him with an interim CEO. "It appears very clear to us - and to many corporate governance experts, Yahoo! employees, and fellow Yahoo! shareholders - that Mr. Thompson's fantasy degree was in no way an 'inadvertent error,' " Loeb said in a letter from his Third Point LLC hedge fund addressed to Yahoo's board of directors.
Producing a crisp, clear explanation should have taken all of five minutes, if that. More...

May-13 -- Local women join Habitat for Humanity's 'Women Build Week'
The leader for the local Women Build project is Habitat volunteer coordinator JoAnne Gorski.
More than 50 women in Columbus showed off their handyman skills all for a good cause. More...

May-13 -- Nvidia Soars After Forecast Tops Estimates: San Francisco
Currently, Tegra makes up only 14 percent of the company's overall revenue.
The company will make a 10-year, one-time donation to Stanford Hospital of $25 million. More...

May-13 -- Argentina's renationalization of YPF: A push to manage oil on its own terms
HIGHER PRICES HELPED: Spanish oil company Repsol's first-quarter profits rose 12.4 percent to €643 million ($833 million), excluding results from YPF and Repsol YPF Gas, the units nationalized by Argentina.
Investment treaties provide protection to foreign investors by guaranteeing national and most-favoured nation treatment, and usually protect against expropriation without compensation. More...

Saturday (Update 2)

May-13 -- A Generation Hobbled by the Soaring Cost of College
Just a few years prior, borrowing money for school was at an all-time low at 3.4 percent, which many perceived as a good investment, especially when compared with other types of investments at the time, according to Mary Bruce in the ABC News article, "Obama Highlights "Good News' In Jobs Report, Renews Student Loan Push."
To counter another financial bubble bursting, Sharif offers Moody Analytics advice of limiting the debt burden by selecting demand careers, and completing degrees on time. More...

May-13 -- Banks hit by JPMorgan; Wall Street ends week lower
U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012, as political tension in Greece heightened concern about Europe's debt crisis and JPMorgan Chase & Co. (JPM) ( JPM )'s $2 billion trading loss weighed on shares of banks.
The Nasdaq was up, outperforming the broader market, as Nvidia Corp shares rose 7.5 percent to $13.34 after the company reported adjusted first-quarter earnings that beat expectations. More...

May-13 -- Investment community gives Tesla Motors vote of confidence
Tesla Motors ( TSLA ) isn't expected to turn a profit for a year.
The new contract to supply components for an electric Mercedes-Benz model may be worth more than $280 million, Chief Financial Officer Deepak Ahuja said on a conference call. More...

May-13 -- Four years after crash, many new rules aren't yet in effect
As Matt Yglesias explained , "Remember the 'Volcker Rule' that was supposed to stop systemically significant financial institutions from racking up huge losses on proprietary speculative bets? Well.
Dimon is one of the leading critics of Frank's landmark Dodd-Frank Bill regulating Wall Street. More...

May-13 -- China acts to boost loans, bolster flagging economy
China also said Friday that the consumer price index, the main gauge of inflation, rose 3.4 percent year on year in April, easing from 3.6 percent in March.
The nation is more likely to pursue market-friendly policies without Bo's influence, Lee said. More...

May-13 -- P&G to Move Skin Care, Cosmetics Group to Singapore
Cincinnati-based P&G, whose products include Olay creams and cleansers, CoverGirl makeup, Secret deodorant and SK-II skin-care, said it was making the move to be closer to Asia's booming beauty market, according to Fox News.
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May-13 -- Chesapeake Energy receives $3 billion loan
Prior to the new deal, the Oklahoma City-based company had paid nearly $1 billion in investment banking fees since 2000, with Jefferies taking in $118 million of that money.
"We urge the company to take action in three areas: debt targets, management focus and strategic options," Hawkins wrote. More...

May-13 -- Tam net profit falls 22%
Fuel costs rose 19.8 percent, to 1.27 billion reais.
The company saw spending on fuel rise 19 percent to 1.27 billion reais, while plane rental costs soared 26 percent year-on-year. More...

May-13 -- China risks fresh demand downturn, trade data shows
Analysts expect more measures following the release of Thursday's data.
Chinese stocks reversed gains following the report, while the yuan weakened a fifth day. More...

May-13 -- US sees surge in corn stocks, fewer soybeans
The reason for the projection of lower prices is right out of Econ 101; while U.S. and world corn supplies have been tight the last two years, leading to record prices in the U.S., expected surges in production here and abroad are likely to almost double U.S. surplus stocks to 1.9 billion bushels after the 2012 crop is harvested.
For close to two and a half weeks the charts illustrated wheat was cheaper than corn. More...

May-13 -- What Yahoo CEO's false bio tell us about resume fraud
Saying that "we take no joy in witnessing this carnage," activist investor Daniel Loeb repeated his demand Wednesday that Yahoo dump CEO Scott Thompson over discrepancies in his academic record and replace him with an interim CEO. "It appears very clear to us - and to many corporate governance experts, Yahoo! employees, and fellow Yahoo! shareholders - that Mr. Thompson's fantasy degree was in no way an 'inadvertent error,' " Loeb said in a letter from his Third Point LLC hedge fund addressed to Yahoo's board of directors.
A special committee of the Yahoo board is investigating the situation in which a fake computer science degree somehow got on the resume of the former president of eBay's PayPal payments unit and later into official Yahoo regulatory filings. More...

May-13 -- Panasonic Posts Record Annual Net Loss
TOKYO (Reuters) - Shares in Japan's consumer electronics giant Sony Corp ( 6758.T ) slipped quietly to a quarter century low this week, a sign of how the Walkman and PlayStation maker has lost its innovative edge and fallen far behind rivals Apple ( AAPL.O ) and Samsung Electronics ( 005930.KS ).
Hirai, who succeeded Welsh-born Howard Stringer last month, hopes to reduce Sony's TV costs after exiting a joint LCD panel venture with Samsung. More...

May-13 -- Publisher of 2 Philadelphia newspapers steps down
Even as the publications have been decimated by layoffs and declining revenues, the Inquirer and Daily News have won Pulitzer Prizes, journalism's highest honor, in the past two years.
Osberg isn't going anywhere, at least not yet. More...

May-13 -- CREDIT MARKETS: Global Firms Sell Bonds As Treasury Rally Ends
Benchmark 10-year Treasury notes were trading 7/32 higher in price to yield 1.86 percent, down from 1.89 percent late Thursday, while 30-year bonds were yielding 3.05 percent compared with a high yield of 3.09 percent in a bond auction on Thursday.
Thursday's $16 billion auction of 30-year bonds met with firm demand, at a yield below market expectations at the final round of this week's $72 billion of debt sales this week under the Treasury's quarterly refunding. More...

May-13 -- Nvidia Announces Quarterly Results, Profits Dropped by 55%
Currently, Tegra makes up only 14 percent of the company's overall revenue.
Nvidia's "consumer graphics" revenue was down almost 7%, quarter over quarter, as the company said demand for the Kepler processors outstripped supply, and that revenue in notebook computer graphic, while still a record, was contained by limits in the supply of chips with 28-nanometer features at Taiwan Semiconductor (TSM), Nvidia's manufacturing supplier. More...

May-13 -- NYMEX-Crude dips, posts biggest 2-wk loss since Sept 2011
The Energy Information Administration said that increased oil imports and weaker domestic demand for petroleum helped boost U.S. oil inventories last week to 379.5 million barrels, the highest since 1990.
Analysts were expecting crude oil inventories to gain 2 million barrels last week. More...

May-13 -- New Rules May Curtail Some Fees in Mortgage
Some experts say the rules could end up backfiring on borrowers.
Structure and Leadership Richard Cordray, former Ohio Treasurer and Attorney General, leads the CFPB. The leadership team includes former leaders and experts from the Federal Reserve, Fannie Mae, the White House, various state and federal regulatory agencies and private firms in the financial services industry. More...

May-13 -- Producer Prices in U.S. Decrease for First Time in Four Months
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
Modest wholesale inflation reduces pressure on manufacturers and retailers to raise prices. More...

Saturday (Update 1)

May-12 -- Banks hit by JPMorgan; Wall Street ends week lower
Dow up 0.05 pct, S&P up 0.11 pct, Nasdaq up 0.52 pct By Ryan Vlastelica NEW YORK, May 11 (Reuters) - U.S. stocks were little changed on Friday but remained on track for a second week of declines after JPMorgan Chase & Co revealed a trading loss of at least $2 billion from a failed hedging strategy.
For the week, the S&P is down 1.1 percent, the Dow is off 1.8 percent and the Nasdaq is down 1.2 percent. More...

May-12 -- Chesapeake shares fall 2 pct
Chesapeake faces a funding gap that Fitch Ratings estimated at $10 billion this year.
Over that period, Chesapeake's stock has plunged 41 percent. More...

May-12 -- Investment community gives Tesla Motors vote of confidence
Tesla Motors ( TSLA ) isn't expected to turn a profit for a year.
The car's $57,400 base price, before a $7,500 U.S. tax credit, is half that of the Roadster, which Tesla has sold since 2008. More...

May-12 -- Stanchart's Li Says China Is 'Gearing Up' Pro-Growth Policy
LOWER THAN expected industrial output data in China, ebbing retail sales and weak growth in fixed asset investment, coming on top of weak trade data earlier in the week, combined to paint a gloomy picture for the world's second largest economy.
The world's second-largest economy witnessed industrial production growth of 9.3 percent last month - the lowest in three years - while retail sales growth slowed to 14.1 percent year-on-year from 15.2 percent in March. More...

May-12 -- P&G to Move Skin Care, Cosmetics Group to Singapore
Cincinnati-based P&G, whose products include Olay creams and cleansers, CoverGirl makeup, Secret deodorant and SK-II skin-care, said it was making the move to be closer to Asia's booming beauty market, according to Fox News.
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May-12 -- Analysis: Turning point emerges for Chinese central bank's market operations
As the economy has slowed, the central bank has been less accommodating, cutting the RRR only twice to 20.5 percent and injecting less than 800 billion yuan.
Chinese banks lent 242.7 billion yuan (S$47.3 billion) worth of property loans between January and March, down 54 per cent from a year earlier. More...

May-12 -- Monster Worldwide soars on sale report
Silver Lake, Stone Key Partners and Bank of America had no immediate comment.
Professional social network LinkedIn (LNKD) reportedly has "expressed interest" in buying up Monster (MWW), sending the job-board company's shares up 19% Friday. More...

May-12 -- News Summary: PBM Express Scripts details 1st-quarter prescription growth ...
THE QUARTER: Overall, Express Scripts earnings fell 18 percent compared to last year's first quarter.
Express also reiterated that it expected $1 billion in cost savings once Medco was fully integrated. More...

May-12 -- U.S. wholesale energy prices dip
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
Energy prices were down by -1.4%, with crude goods at -4.4%. More...

May-12 -- Third Point Asks Yahoo to Replace Thompson With Interim
Saying that "we take no joy in witnessing this carnage," activist investor Daniel Loeb repeated his demand Wednesday that Yahoo dump CEO Scott Thompson over discrepancies in his academic record and replace him with an interim CEO. "It appears very clear to us - and to many corporate governance experts, Yahoo! employees, and fellow Yahoo! shareholders - that Mr. Thompson's fantasy degree was in no way an 'inadvertent error,' " Loeb said in a letter from his Third Point LLC hedge fund addressed to Yahoo's board of directors.
regulatory filings at two companies where Mr. Thompson is a director, Splunk Inc. and F5 Networks, also list only the accounting degree. More...

May-12 -- Consumer Sentiment in U.S. Climbed in May to Four-Year High
In a potential harbinger of increased spending, consumers' buying plans for vehicles and durable goods improved at the beginning of the month, with 65 percent saying buying conditions were favourable, the highest level in more than a year.
WASHINGTON -- Consumer sentiment edged higher in May to the best reading since the beginning of the recession, as declining gasoline prices appear to have offset slowing growth in job markets. More...

May-12 -- Commodity prices retreat on eurozone, China woes
The Energy Information Administration said that increased oil imports and weaker domestic demand for petroleum helped boost U.S. oil inventories last week to 379.5 million barrels, the highest since 1990.
Crude prices fell below $112 a barrel after a weak reading of industrial growth in China sparked worries that demand may slow from the world's No. 2 oil consumer. More...

May-12 -- LegalZoom.com files to raise up to $120 million in IPO
Online legal services company LegalZoom filed an S-1 form this morning declaring its intention to raise up to $120 million in an IPO.
The Glendale, California-based company said it had previously submitted its registration statement to the U.S. Securities and Exchange Commission on a confidential basis under the Jumpstart Our Business Startups (JOBS) Act. More...

May-12 -- Spain, France get EU budget alert, Greece agonises
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
Despite the higher figure, Rehn said the commission has "full confidence in the determination of the Spanish government" to meet the deficit target. More...

May-12 -- US sees surge in corn stocks, fewer soybeans
The reason for the projection of lower prices is right out of Econ 101; while U.S. and world corn supplies have been tight the last two years, leading to record prices in the U.S., expected surges in production here and abroad are likely to almost double U.S. surplus stocks to 1.9 billion bushels after the 2012 crop is harvested.
The projected size of the current Argentine corn harvest was unchanged from the forecast of last month, while the projected size of the Brazilian crop was increased by almost 200 million bushels (8 percent). More...

May-12 -- German Finance Minister eyes growth measures for Greece
"The future of Greece in the euro zone now lies in Greece's hands," German Foreign Minister Guido Westerwelle said in a speech in the lower house of parliament in Berlin today.
The danger of contamination for other countries in the eurozone have become weaker and the eurozone as a whole has become more resistant." More...

May-12 -- Publisher of 2 Philadelphia newspapers steps down
Even as the publications have been decimated by layoffs and declining revenues, the Inquirer and Daily News have won Pulitzer Prizes, journalism's highest honor, in the past two years.
Osberg isn't going anywhere, at least not yet. More...

Saturday

May-12 -- CORRECT: Dow Drops After JP Morgan Trading Loss; Consumer Sentiment Rises
The initial weakness on Wall Street came on the heels of troubling news from JP Morgan (JPM), which revealed a $2 billion trading loss after an "egregious" failure at the Chief Investment Office that manages the bank's synthetic credit portfolio.
Even the subject of whether the trades that produced the losses were hedges, and whether they would comply with the Volcker rule's ban on proprietary trading, is the subject of debate. More...

May-12 -- Goldman Moves to Comply With Volcker Rule
Wall Street reforms ushered in with the Dodd-Frank Act limit risk associated with the big banks by requiring larger capital cushions and shining a light on trading of derivatives, which are currently unregulated.
When asked if had any message for J.P. Morgan Chief Executive Jamie Dimon, Merkley said, "If you want to be the head of a hedge fund, be a hedge fund." More...

May-12 -- Chesapeake Energy Might Delay Asset Sales
Prior to the new deal, the Oklahoma City-based company had paid nearly $1 billion in investment banking fees since 2000, with Jefferies taking in $118 million of that money.
Even Janney Capital, which rates it neutral, admits Chesapeake Midstream had a strong first quarter thanks to a "strong start" in Pennsylvania's Marcellus shale and "a healthy level of well connections." More...

May-12 -- JPMorgan and the politics of financial reform
U.S. Representative Barney Frank said Friday that JPMorgan Chase's disclosure that it lost more than $2 billion from a flawed hedging strategy underscores the need for tighter federal regulation of trading by banks.
Four existing banks -- JPMorgan Chase, Bank of America, Citigroup and Wells Fargo -- are currently above the size cap, and would need to be shrunk down if the bill became law, according to Miller's office. More...

May-12 -- Asian Stocks Post Worst Week Since November on Europe, China
Asian stocks fell, with a regional index posting its worst week in five months, amid concern Greece will be forced out of the euro and that austerity plans needed to contain the Europe's debt crisis will be derailed.
Analysts expect the Nikkei to keep gaining, finishing the year up 30 percent and snapping a two-year losing streak lengthened by the effects of the disastrous earthquake and tsunami in March 2011. More...

May-12 -- Producer Prices: Cheaper Gas Drives US Wholesale Index Lower
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
Excluding the volatile food and energy sectors, the so-called "core" wholesale prices rose 0.2 percent in April from the previous month. More...

May-12 -- 'Geopolitical Risks' Keep Oil Expensive, but Plentiful
The Energy Information Administration said that increased oil imports and weaker domestic demand for petroleum helped boost U.S. oil inventories last week to 379.5 million barrels, the highest since 1990.
Refining fell to 9.03 million barrels a day last month, the least since October, according to Bloomberg calculations from a statement by the National Bureau of Statistics in Beijing today. More...

May-12 -- Spain, France get EU budget alert, Greece agonises
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
Compared to the autumn forecast, annual growth has been revised down by 1.8 pps. to 0.5% for the current year and by 1.1 pps. to 1.9% in 2013. More...

May-12 -- EXCLUSIVE - Monster deal heats up, LinkedIn to pass - sources
Silver Lake, Stone Key Partners and Bank of America had no immediate comment.
What: Shares of job matchmaker Monster Worldwide ( NYS: MWW ) are roaring higher today by upward of 23% on reports that the company has attracted potential buyers. More...

May-12 -- Panasonic Posts Record Annual Net Loss
TOKYO (Reuters) - Shares in Japan's consumer electronics giant Sony Corp ( 6758.T ) slipped quietly to a quarter century low this week, a sign of how the Walkman and PlayStation maker has lost its innovative edge and fallen far behind rivals Apple ( AAPL.O ) and Samsung Electronics ( 005930.KS ).
Sony said it may lose about 80 billion yen selling TVs, a ninth straight year of losses in that business. More...

May-12 -- CREDIT MARKETS: Fallout From JP Morgan Losses Dominates Action
NEW YORK: U.S. Treasuries prices fell on Thursday, pulling benchmark yields up from three-month lows, as the flow of bad news from Europe eased and a lower-than-expected number of claims for U.S. jobless benefits dimmed the allure of low-risk government bonds.
Additional note: If you are curious what I mean by riding the yield curve, consider reading an article I wrote in January, " Trading the Yield Curve ." More...

May-12 -- China Gets Surprise Slowdown
The Producer Price Index, the factory-gate measurement of inflation and a harbinger of consumer prices, lost 0.7 percent in April, following a decrease of 0.3 percent in March.
China has cut the required reserve ratio by 100 basis points from a record high of 21.5 percent in two steps, the last a 50 bp cut in February. More...

May-12 -- Nvidia Soars After Forecast Tops Estimates: San Francisco
Currently, Tegra makes up only 14 percent of the company's overall revenue.
Revenue for the quarter declined 4 percent to $924.88 million from $962.04 million in the prior-year period, but beat analysts' consensus estimate of $916.17 million. More...

May-12 -- Publisher of 2 Philadelphia newspapers steps down
Even as the publications have been decimated by layoffs and declining revenues, the Inquirer and Daily News have won Pulitzer Prizes, journalism's highest honor, in the past two years.
In April, the media properties were bought for $55 million by a group headed by influential New Jersey business executive George Norcross III, former New Jersey Nets owner Lewis Katz and cable TV mogul H.F. "Gerry" Lenfest. More...

May-12 -- PRECIOUS METALS: Gold At 2012 Low On Slow Inflation, Dollar Gains
NEW YORK (Reuters) - Gold dropped below $1,600 an ounce in heavy trading on Wednesday, nearly wiping out gains for 2012 as political uncertainty in Greece and Spanish bank worries prompted investors to sell bullion for a third straight daily decline.
O'Neill said the $1,630 area should provide technical support, and the metal could rebound if it held above the resistance level which was in line with recent lows. More...

May-12 -- Brazil's TAM profit drops as financial expenses rise
Fuel costs rose 19.8 percent, to 1.27 billion reais.
"The reduction in cargo capacity expansion reflects a more challenging demand and competitive environment in the global cargo markets," Lan said. More...

Friday (Update 2)

May-12 -- JP Morgan Losses Raise Questions On Large Banks, Mayo Says
The initial weakness on Wall Street came on the heels of troubling news from JP Morgan (JPM), which revealed a $2 billion trading loss after an "egregious" failure at the Chief Investment Office that manages the bank's synthetic credit portfolio.
The case may well bring into focus once more how bank VaR models can hinder as well as aid risk management. More...

May-12 -- Chesapeake Shares Crunched After Filing Warns Of Delayed Asset Sales
The Oklahoma City-based natural gas exploration and production company has been in the news under less-than-stellar headlines since it came to light that CEO Aubrey McClendon had taken more than $1 billion in loans using his stakes in Chesapeake wells as collateral.
May 9 (Bloomberg) -- A Chesapeake Energy Corp. shareholder accused the company of underreporting the use of company corporate jets by executives and directors for. More...

May-12 -- Exclusive: Monster deal heats up, LinkedIn to pass: sources
The company's model of job ads is facing new competition from social media such as Facebook and LinkedIn, and the company said in January it would cut 7 percent of its staff, or 400 jobs.
More...

May-12 -- GLOBAL MARKETS-Stocks, euro slip as Europe concerns mount
U.S. stock index futures are pointing to a lower open on Wall Street today as investors fretted about Greece's political deadlock and disappointing Chinese trade data.
The FTSEurofirst index of top European stocks pared losses to trade near break-even, up 0.05 percent to 1019.59 points. More...

May-12 -- American to cut flights 1.5% next month
The No. 3 U.S. airline is weighing a transaction with U.S. Airways or another suitor and has agreed with creditors to investigate whether the merger will create more value than if American were to remain a standalone company, according to a report by Reuters, citing a person close to the matter.
While Friedman said the changes and upgrades would cost "hundreds of millions of dollars, each year" the company isn't disclosing the exact price tag for the improvements. More...

May-12 -- CNBC Explains: Dodd-Frank Act
As Matt Yglesias explained , "Remember the 'Volcker Rule' that was supposed to stop systemically significant financial institutions from racking up huge losses on proprietary speculative bets? Well.
Given how many hedge fund managers and other investment pros dislike the mega-banks, Romney probably wouldn't even take a fundraising hit. More...

May-12 -- News Summary: EU hopeful for European recovery from recession, provided budget ...
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
The budget shortfall will widen to 8.4 percent of gross domestic product in 2013 from a projected 7.3 percent this year, compared with a target deficit of 4.6 percent, the European Commission said in a report today. More...

May-12 -- Early-May Reuters/UMich Sentiment Up To 77.8 From 76.4 In Late-April
The Thomson Reuters/University of Michigan's preliminary May reading on the overall index on consumer sentiment improved to 77.8 from 76.4 in April, topping forecasts for a small decline to 76.2.
The Standard & Poor's 500 Index climbed 0.3 percent to 1,362.09 at 12:28 p.m. in New York. More...

May-12 -- Spain in new bid to clear property assets
The hangover from the property sector crash extends across the financial sector.
Spain wants lenders to set aside more money to protect against losses on loans that are currently sound but may slip into default in a deteriorating economy, financial sources and a government source told Reuters late on Tuesday. More...

May-12 -- Option Watch: Express Scripts Risk Reversal
THE QUARTER: Overall, Express Scripts earnings fell 18 percent compared to last year's first quarter.
The conference highlighted our industry-leading Drug Trend Report, which provided cost -- cutting-edge solutions for most effectively managing a pharmacy benefit. More...

May-12 -- Treasury Bonds Post Longest Weekly Winning Streak Since 1998
NEW YORK: U.S. Treasuries prices fell on Thursday, pulling benchmark yields up from three-month lows, as the flow of bad news from Europe eased and a lower-than-expected number of claims for U.S. jobless benefits dimmed the allure of low-risk government bonds.
The bank announced a $2 billion trading loss, prompting a rush to the exits. More...

May-12 -- China's Economy May Soon Get a Loosening
The Producer Price Index, the factory-gate measurement of inflation and a harbinger of consumer prices, lost 0.7 percent in April, following a decrease of 0.3 percent in March.
The government said China's urban fixed asset investments rose 20.2 percent in the first four months of 2012 compared with a year earlier, weakening from 20.9 percent in the first three months. More...

May-12 -- Nvidia's New Graphics Chip Drives Strong 1Q Results
Currently, Tegra makes up only 14 percent of the company's overall revenue.
Overall revenue for Nvidia's consumer products business rose 21% to $132.6 million compared to Q4 2011, while revenue in the desktop and notebook sector fell by 6.7% to $579.7 million. More...

May-12 -- Cheaper gas drives US wholesale price index lower
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
Remember that Keynesian economists have been howling about deflation for years now, and central bankers have been listening and pumping masses of liquidity into the global economy. More...

May-12 -- Again? Wal-Mart's rep takes another beating
Wal-Mart declined to comment on the possibility of an independent monitor and said it was committed to cooperating with ongoing federal investigations.
The Washington Post recently reported that the U.S. Department of Justice has been conducting a criminal investigation since December. More...

May-12 -- More Bad News For Jamie Dimon, Fitch Clips JPMorgan Credit Rating
May 11 - Fitch Ratings has taken the following rating actions on Banco Pine S.A. (Pine): --Long-term foreign and local currency Issuer Default Ratings (IDRs) upgraded to 'BB' from 'BB-'; Outlook Stable; --Short-term foreign and local currency IDRs affirmed at 'B'; --Viability rating upgraded to 'bb' from 'bb-'; --Support rating affirmed at '5'; --Support rating floor affirmed at 'NF'; --Long-term national rating upgraded to 'A+(bra)' from 'A(bra)'; Outlook Stable; --Short-term national rating affirmed at 'F1(bra)'; --Banco Pine S.A. USD 125 million Subordinated notes to 'B+' from 'B'.
Absent deleveraging equity offerings, Fitch expects Mack-Cali's metrics to weaken going forward though remain consistent with the rating. More...

May-12 -- Baker Hughes: Weekly US Gas Rig Count Falls By 8 To 598
NEW YORK May 11 (Reuters) - The number of rigs drilling for natural gas in the U.S. fell by eight to a 10-year low of 598, data from oil services firm Baker Hughes showed on Friday.
Front-month gas futures hit a 10-year low of $1.90 per mmBtu three weeks ago, a level that makes most dry gas drilling uneconomic, but have since rebounded to about $2.50. More...

May-12 -- Chicago's Metra rail service plans strict security during NATO summit: No ...
Inbound trains (except Blue Island trains) are scheduled to arrive downtown until noon, with the following stations closed: On the main line, trains will not stop at 111th Street (Pullman), 107th Street, 103rd Street (Rosemoor), 95th Street (Chicago State University), 91st Street (Chesterfield), 87th Street (Woodruff), 83rd Street (Avalon Park), 79th Street (Chatham), 75th Street (Grand Crossing), 63rd Street, 47th Street (Kenwood), 27th Street, McCormick Place, 18th Street and Museum Campus/11th Street.
During the three days of the summit, all Metra riders will be allowed to carry only one bag and it cannot exceed 15 inches square and 4 inches deep. More...

Friday (Update 1)

May-11 -- Dow Slips as JPMorgan Plunges 9%
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
S&P 500 Index futures dropped 1.5 points to 1349.50, while Nasdaq 100 futures fell 9 points to 2610.25. More...

May-11 -- Wholesale prices drop in April on falling gas prices
WASHINGTON (Reuters) - Producer prices unexpectedly fell in April as energy costs dropped by the most in six months, a sign of easing inflation pressures that could give the Federal Reserve more room to help the economy should growth weaken.
Lower inflation also gives the Federal Reserve room to hold interest rates at record-low levels. More...

May-11 -- FOREX-Euro near 3-1/2 month low vs dlr as Greece wrangles
The Hang Seng China Enterprises Index (HSCEI) of mainland stocks, known as the H-share index, dropped 1.2 percent to 10,231.05.
The China Enterprises Index of top mainland listings in Hong Kong was indicated to start up 0.52 percent. More...

May-11 -- P&G Unit Bids Goodbye to Cincinnati, Hello to Asia
Cincinnati-based P&G, whose products include Olay creams and cleansers, CoverGirl makeup, Secret deodorant and SK-II skin-care, said it was making the move to be closer to Asia's booming beauty market, according to Fox News.
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May-11 -- Spain and France raise budget flags, Greek talks stall
The 2012-13 spring forecasts, to be issued at 5:00 a.m. EDT (0900 GMT), will set out expectations on growth, inflation, employment and public finances for each state individually, as well as the aggregate expectations for the EU and euro zone.
BRUSSELS -- The European Union says that a recession brought on by a crippling debt crisis could give way to a modest recovery later this year -- provided governments persevere on the tough austerity track. More...

May-11 -- Spain to approve new financial reform
May 11 (Bloomberg) -- Spain will force the country's banks to increase provisions against losses on real estate loans by 30 billion euros ($38 billion) and will hire two auditors to gauge all the assets of lenders in the government's fourth attempt to clean up the financial system.
Troubled Spanish lender Bankia is to be partly nationalised, the central bank has confirmed . More...

May-11 -- China Industrial Output Boosts Easing Odds: Economy
The Producer Price Index, the factory-gate measurement of inflation and a harbinger of consumer prices, lost 0.7 percent in April, following a decrease of 0.3 percent in March.
The government said China's urban fixed asset investments rose 20.2 percent in the first four months of 2012 compared with a year earlier, weakening from 20.9 percent in the first three months. More...

May-11 -- Panasonic loss balloons for record red ink
TOKYO (Reuters) - Shares in Japan's consumer electronics giant Sony Corp ( 6758.T ) slipped quietly to a quarter century low this week, a sign of how the Walkman and PlayStation maker has lost its innovative edge and fallen far behind rivals Apple ( AAPL.O ) and Samsung Electronics ( 005930.KS ).
The projection missed the 106 billion- yen average of 18 analyst estimates compiled by Bloomberg. More...

May-11 -- Italy one-year debt costs fall at auction
Italy also sold 3 billion euro of a three-month bill at an average 0.87 percent rate, down from 1.249 percent a month ago.
Spain will tap bond markets on Thursday. More...

May-11 -- Nvidia Revenue, Outlook Beat Street; Shares Jump
"Supply is still constrained," a company executive told analysts, noting that Nvidia and its manufacturing partner TSMC ( 2330.TW ) had not planned for enough 28 nanometer capacity.
From time to time, we will send you e-mail announcements on new features and special offers from The Wall Street Journal Online. More...

May-11 -- Digital 'wallets' proliferate at CTIA cellphone show
Billed as a new global offering for banks, merchants and other partners, the service is said to make it faster and easier for customers to make purchases in stores or online.
In about 2 hours, we're going to be demonstrating the PayPass Wallet Services to probably a few thousand people as part of Gary Flood's keynote here at the conference. More...

May-11 -- Dismal data from China, India, signal slowing growth for emerging economies
SHANGHAI -- Dismal data from China and India on Friday may signal a further weakening of the global recovery, undermining hopes the dynamic emerging economies of Asia can help prop up growth.
On Friday Chinese retail sales for April are expected to come in flat at around 15.3 percent year on year versus 15.5 percent last year. More...

May-11 -- Supply/demand report bullish for soybeans
CHICAGO -- Corn futures fell about 2% on Thursday, after the U.S. government unexpectedly raised its forecast for near-term corn supplies and projected a record corn harvest this autumn.
While U.S. farmers have approached current yield estimates in the past, indeed yields were 165 bu. More...

May-11 -- Oil Heads for Weekly Drop on Chinese Output, Europe Debt
The agency said global oil supply rose 600,000 barrels per day (bpd) to 91 million bpd in April and was now 3.9 million bpd over year ago levels, with 90 percent of the increase coming from OPEC. Saudi Arabia has said it pumped 10.1 million bpd last month, its highest for more than 30 years, in a bid to meet growing demand and curb oil prices, which hit a three-and-a-half-year high in March.
Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed 320,000 barrels per day (b/d) to 31.71 million b/d in April from 31.39 million b/d in March, a just-released Platts survey of OPEC and oil industry officials and analysts showed. More...

May-11 -- CORRECT: Nissan Expects Another Strong Year On Record Global Sales
Nissan Motor Co. (IW 1000/29) on Friday reported a $4.28 billion full-year net profit and record sales as the Japanese automaker shrugged off the devastating impact of last year's natural disasters on production.
Profits at Nissan jumped sharply in the January to March quarter as the carmaker pushed aggressively into fast-growing markets. More...

May-11 -- Cisco: The fault lies in the stars, not the man
Shares in the company, which relies on government and corporate spending on Internet gear, slid more than 8 percent after hours, despite beating analysts' third-quarter earnings estimates by a penny.
Shares of Cisco Systems ( CSCO ) retreated 8% Thursday morning as Wall Street frowns at the tech bellwether's gloomy guidance. More...

May-11 -- Ford says CEO Alan Mulally won't retire soon
The automaker March 14 declared a second- quarter dividend of 5 cents a share payable June 1 to shareholders of record on May 2.
Jane Garcia of Detroit, whom Bill Ford described as a "human dynamo" in the community, thanked Ford for being a strong company and taxpayer. More...

Friday

May-11 -- JPMorgan Loses $2 Billion as 'Mistakes' Trounce Hedges
JPMorgan Chase & Co. (JPM) ( JPM ) Chief Executive Officer Jamie Dimon said the firm suffered a $2 billion trading loss after an "egregious" failure in a unit managing risks, jeopardizing Wall Street banks' efforts to loosen a federal ban on bets with their own money.
Spencer Platt/Getty Images A massive trading bet left J.P. Morgan Chase with at least $2 billion in trading losses; its chief executive, James Dimon, called the trade an 'egregious, self-inflicted,' mistake. More...

May-11 -- Asian Stocks Lower as Traders Eye Greece, China
China's Shanghai Composite index fell 1.7 percent ahead of trade, inflation and industrial output data due in the next two days, while Hong Kong's Hang Seng index ended 0.8 percent lower.
Asian economies are stabilizing. More...

May-11 -- China Inflation Eases In April; Provides Room For Easing
The key food component of inflation rose 7 percent year on year - contributing more than two percentage points to overall inflation - but eased from a 7.5 percent rise in March.
Trade data on Thursday highlighted the risks to China's factory-focused economy of a fresh downturn in demand, with annual export growth of just 4.9 percent in April, below a forecast of 8.5 percent, while headline import growth stalled. More...

May-11 -- P&G to move some beauty units to Singapore
The decision shows a shift in the fortunes of two high profile women at P&G--Henretta, who has guided Asia to strong results, and Drosos, 49, who has been one of Fortune's Most Powerful Women for some time but who has struggled as the beauty business in developed economies has slowed.
Procter & Gamble and other consumer goods companies are increasingly looking to emerging markets in Asia and elsewhere for growth as developed markets like North America slow. More...

May-11 -- Monti Seeks Mediator Role in Europe
Germans have a deep-seated aversion to inflation stemming from the national experience of hyperinflation in the 1920s and the Bundesbank has traditionally pushed for tighter ECB monetary policy to choke off price pressures.
The ECB said it expects a "gradual recovery" in the Eurozone over the coming year, and cited foreign demand as a major contributor to the recovery process in the 17-member Euro bloc. More...

May-11 -- Facebook's IPO Already Oversubscribed: Source
'There's that much buzz that people are going to trip over themselves to get in.' Top hedge fund manager Anthony Scaramucci says much the same.
Don't compare Facebook with the recent LinkedIn ( LNKD ) offering a year ago. More...

May-11 -- Cisco, Jobless Claims Could Sway Market as Investors Watch Europe
The tech industry bellwether reported profits of 48 cents per share on revenue of $11.59 billion, while analysts had forecast 47 cents per share on earnings of $11.58 billion, according to Thomson Reuters.
The data was better than economists had expected, with a forecast of the deficit climbing to $53 billion. More...

May-11 -- Riding With the Cisco Skid
The results released Wednesday also may help ease worries that Cisco Systems Inc.' s comeback might be derailed by a sluggish economy, particularly in Europe.
Cisco is having trouble closing major sales with corporate customers who are becoming more concerned about the state of the economy, particularly in Europe. More...

May-11 -- Bernanke warns lawmakers on looming fiscal risks
Bernanke said, some analysis has indicated that, all else being equal, banks with lower supervisory ratings tend to lend less ; so the Fed has directed supervisors to issue appropriate upgrades promptly.
Notwithstanding the various headwinds, credit conditions in the United States have improved significantly in a number of areas. More...

May-11 -- China moves to local control of foreign auditors
"Foreign firms auditing U.S. issuers should not be permitted to shield themselves from regulatory scrutiny to the detriment of U.S. investors," said Robert Khuzami , Director of the SEC's Division of Enforcement.
Lauren Mistretta, a Deloitte spokeswoman, said that Chinese law prohibits the firm from handing over documents to a foreign regulator without approval from the government. More...

May-11 -- Sony Falls to 31-Year Low as Forecast Misses Estimates
Kazuo Hirai, 51, who took over as chief executive officer last month, is eliminating about 10,000 jobs, or 6 percent of the workforce, at Japan's largest electronics exporter after losing customers to Samsung Electronics Co. opnbrkt005930clsbrkt and Apple Inc. opnbrktAAPLclsbrkt Hirai is turning to mobile devices, games and digital imaging to revive Sony.
Sony's Consumer Products and Services division has suffered an operating loss of ¥229.8 billion (NZD $3.67 billion) for the full year ended March 2012. More...

May-11 -- Canada trade surplus rises despite oil-price dip
Imports from the U.S. declined 1.4 per cent to $24.1 billion as Canada's trade surplus with the Americans decreased to $4.6 billion in March from $4.9 billion in February.
Imports from China, the United States' largest foreign supplier, rose 12 percent in March to $31.5 billion. More...

May-11 -- Digital 'wallets' proliferate at cellphone show as companies jockey for position
Consumers wary of smartphone shopping will probably feel more at ease knowing the wallets are being serviced by two of the largest credit companies in the world.
The content of a physical wallet provides an endless list of items that could be digitized including: ID cards, loyalty and gift cards, receipts, vouchers and credit cards as well as preferred places, products and people. More...

May-11 -- News Summary: FDIC head says strategy for seizing failing firms would aid ...
The aim is to avoid another taxpayer bailout of Wall Street banks in another financial crisis.
Federal and state banking regulators have closed six banks in the past two weeks having total combined assets of more than $1.5 billion. More...

May-11 -- Deutsche Bank will pay $202 million to US over bad loans
NEW YORK (Reuters) - A Deutsche Bank AG ( DBKGn.DE ) mortgage unit has agreed to pay $202.3 million to settle one of the biggest U.S. government civil fraud lawsuits over reckless mortgage lending practices.
Thursday's agreement settles a case brought last year, in which the Justice Department alleged the Deutsche unit "recklessly" lied about the quality of loans made by the unit of the German bank and guaranteed by the U.S. government. More...

May-11 -- Oklahoma wheat harvest under way, and USDA predicts bumper crop
CHICAGO -- Corn futures fell about 2% on Thursday, after the U.S. government unexpectedly raised its forecast for near-term corn supplies and projected a record corn harvest this autumn.
The U.S. 2012/13 long-grain rice season-average farm price is projected at $14.50 to $15.50 per cwt, compared to a revised $13.20 to $13.60 for the previous year. More...

May-11 -- Initial jobless claims fall to lowest in a month
Continuing Jobless Claims measures the number of unemployed individuals who continue to be eligible for unemployment benefits.
Economists polled by Reuters had expected the trade gap to widen to about $50.0 billion. More...

May-11 -- REFILE-NYMEX-Crude slips as OPEC pumps above target
At 3:39 p.m. on Thursday, crude oil futures fell 0.71 percent, an 80 cent loss to $112.40 per barrel.
Data released by the U.S. Energy Information Administration on Wednesday showed crude inventories rose by 3.65 million barrels last week in the world's biggest economy, higher than market expectations for a two-million-barrel gain. More...

Thursday (Update 2)

May-11 -- US STOCKS-Dow ends losing streak with gain, Cisco a drag
The market today is tame compared with last summer, when the Dow routinely swung by hundreds of points a day.
In a positive development, euro-zone officials said the bloc's countries are prepared to keep financing Greece until the country forms a new government, either after Sunday's election or if new elections are needed next month. More...

May-11 -- FDIC's Gruenberg outlines new strategy for failing banks
The aim is to avoid another taxpayer bailout of Wall Street banks in another financial crisis.
The FDIC has put together a new format for how they would wind down a systemically important financial institution that got itself into trouble. More...

May-11 -- Madrid's central banker blamed for woes
The euro zone's fourth-largest economy is widely considered the next weak link in the bloc's debt crisis after the rescue of Portugal, Greece and Ireland, and Bankia is at the core of market concerns over the potential cost of a Spanish bank bailout.
Investors in Spain's larger banks were relieved that the government was itself stepping in to sort out Bankia rather than forcing healthier banks to foot the bill. More...

May-11 -- P&G moves personal-care hub to Asia
Beauty is a big business for the consumer products giant.
The change will impact about 20 jobs in Cincinnati, which will transfer to Singapore over the next two years. More...

May-11 -- Nordstrom 1Q Profit Up 2.8% As Sales Improve
Net sales in the first quarter were $2.53 billion, an increase of 13.7 percent compared with net sales of $2.23 billion during the same period in fiscal 2011.
Nordstrom's shares fell more than 5 percent after hours following the report. More...

May-11 -- Bernanke Expresses Fiscal Concerns To Senate Democrats
CHICAGO The banking system has strengthened since the financial crisis, making some loans more available, but mortgage lending will likely be slow to recover, Federal Reserve Chairman Ben Bernanke said in remarks prepared for a speech Thursday morning.
Speaking via satellite to a banking conference in Chicago, Bernanke highlighted ongoing problems in mortgage finance availability, even though banks are much healthier now as the 2007-2009 financial crisis has receded. More...

May-11 -- US sees surge in corn stocks, fewer soybeans
CHICAGO -- Corn futures fell about 2% on Thursday, after the U.S. government unexpectedly raised its forecast for near-term corn supplies and projected a record corn harvest this autumn.
The first U.S. Department of Agriculture outlook for this year's corn crop is calling for record yields and record production, while corn use for ethanol is expected to remain the same. More...

May-11 -- Riding With the Cisco Skid
Although management didn't look beyond the current quarter, investors are likely wondering whether the business climate for Cisco will be even worse in the late summer and early fall.
The prospect of weak revenue covers Cisco's fiscal fourth quarter typically the company's busiest period. More...

May-11 -- Freddie Mac names former E*Trade chief as CEO
Freddie Mac has tapped Donald Layton to head up the mortgage giant in its efforts to shore up housing finance.
Layton, 62, spent 30 years working at JPMorgan Chase and its predecessor companies. More...

May-11 -- Home Prices Are Stabilizing, Signifying A Housing Market Bottom
Home prices in the Madera-Chowchilla metro area have plummeted more than 53% since the third quarter of 2006.
For a conventional mortgage, the payment for a median-priced home represents just 12 percent of median-family income, the lowest percentage on record (since 1971). More...

May-11 -- FedEx officially inks deal to acquire TATEX
FedEx's latest acquisition will give FedEx Express access to a nationwide domestic ground network which carries 19 million shipments and produces close to $200 million in revenue annually.
Tatex, formerly known as TAT Express, has annual sales of about 150 million euros ($194 million) and focuses on heavy shipments between businesses, FedEx said. More...

May-11 -- Sony posts $5.6-billion loss, 10% drop in sales
TOKYO (Reuters) - Shares in Japan's consumer electronics giant Sony Corp ( 6758.T ) slipped quietly to a quarter century low this week, a sign of how the Walkman and PlayStation maker has lost its innovative edge and fallen far behind rivals Apple ( AAPL.O ) and Samsung Electronics ( 005930.KS ).
Japanese sales of Sony's handheld have been especially poor, dropping to just over 10,000 a week even during Japan's Golden Week holiday period. More...

May-11 -- US jobless claims fall slightly
Continuing Jobless Claims measures the number of unemployed individuals who continue to be eligible for unemployment benefits.
Economists say that when claims drop consistently below 375,000, job creation is hitting a fast enough pace to lower the unemployment rate. More...

May-11 -- Post-Auction Rally In US Treasurys Fails To Put Prices In Black
Treasury to auction $72 billion of debt this week By Burton Frierson NEW YORK, May 7 (Reuters) - U.S. Treasuries rose on Monday, pushing benchmark yields to three-month lows, after voters in France and Greece rejected leaders linked to austerity measures used to fight the euro zone debt crisis.
Investors will receive an average $99.4 billion of cash monthly from maturing debt, up from $68.1 billion in 2011, CRT said. More...

May-11 -- trade gap widens sharply
Analysts expect more measures following the release of Thursday's data.
Economists at Societe Generale said that China's low import figure could be partly explained by price movements, as inflation in import prices "probably" turned negative in April. More...

May-11 -- Deutsche Bank pays $202M in NY mortgage fraud deal
NEW YORK (Reuters) - A Deutsche Bank AG ( DBKGn.DE ) mortgage unit has agreed to pay $202.3 million to settle a civil fraud case brought by the U.S. Justice Department, one of the biggest government lawsuits over risky mortgage practices.
The settlement was approved Thursday by a federal judge in New York, the government said. More...

May-11 -- US downs missile with new interceptor
A missile launched from the Pearl Harbor-based USS Lake Erie intercepted a short-range ballistic missile target in a successful test of an upgraded missile defense system over the Pacific Wednesday night, the Missile Defense Agency announced this morning.
Riki Ellison, a prominent missile-defense advocate with close ties to military forces involved in the project, said the test on Wednesday could be viewed as a scenario involving North and South Korea. More...

May-11 -- Want More Money? Move to the Mid-Atlantic or New England, Study Finds
"When it comes to achieving the American Dream, it matters where you live," said Erin Currier, project manager of Pew's Economic Mobility Project.
Virtually every state ranked near the bottom in education/income/upward mobility are from heavily Republican states. More...

May-11 -- Express Scripts Earnings Down 18% As Expenses Rise
Analysts forecast earnings of 77 cents per share on $11.47 billion in revenue.
Lower incidence of flu affected the prescriptions filled by 0.2 percentage point. More...

Thursday (Update 1)

May-10 -- Oil Rises for First Time in Seven Days on Jobless Claims
Continuing Jobless Claims measures the number of unemployed individuals who continue to be eligible for unemployment benefits.
All in all, Thursday's report from the Labor Department suggests that the job market probably isn't as dour as last week's report showing a second straight month of mediocre job growth in April. More...

May-10 -- Stocks Look to Snap Losing Streak
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
The Nasdaq Composite Index was off 1.84 points, or 0.06 percent, at 2,954.50. More...

May-10 -- Avon: Coty's back with a higher bid
May 10 (Reuters) - Coty Inc raised its bid for Avon Products Inc, with the backing of Warren Buffett's Berkshire Hathaway, and the beauty products company gave Avon until the close of business May 14 to start talking or the offer would be withdrawn.
Avon spurned the offer terming it opportunistic and against shareholder interest. More...

May-10 -- China's Trade Surplus Widens in April
Chinese imports rose 5.3 percent in March while exports increased 8.9 percent from a year earlier, leaving a trade surplus of $5.35 billion.
Imports of automotive products rose 4.7% to $6.5 billion as volumes and prices increased. More...

May-10 -- Unemployment claims stay low in latest week, down 1000
A separate Labor Department report released last week showed that the U.S. unemployment rate edged down to 8.1 percent in April, with the total number of unemployed Americans standing at 12.5 million.
The rates below mean the number of openings, hires, fires percentage of the total employment. More...

May-10 -- Spain Takes Control of Its Top Real Estate Lender
Spain said it would take over Bankia (BKIA) SA and prepared to inject public funds into the banking group with the most Spanish real estate as part of government efforts to bolster confidence in the country's lenders.
Spanish Defense Minister Pedro Morenes, in an interview with TVE today, referred to a government "intervention" in Bankia. More...

May-10 -- Cisco's Tepid Outlook Sparks 8% Selloff
Chambers sought to reassure analysts.
For the first quarter, adjusted earnings were $4.28 a share and revenue rose 28% to $1.04 billion. More...

May-10 -- Reports say home price declines are slowing
Home prices in the Madera-Chowchilla metro area have plummeted more than 53% since the third quarter of 2006.
Readers: What do you think? Is the housing bottom here? What are home prices doing in your area? Let me know in the Comments section below. More...

May-10 -- Banks are healing, Bernanke says
CHICAGO-(Dow Jones)- The banking system has strengthened since the financial crisis, making some loans more available, but mortgage lending will likely be slow to recover, Federal Reserve Chairman Ben Bernanke said in remarks prepared for a speech Thursday morning.
"Current standards may be limiting or preventing lending to many creditworthy borrowers," Bernanke said. More...

May-10 -- Bed Bath & Beyond adds room to grow
NEW YORK (Reuters) - Home goods chain Bed Bath & Beyond Inc ( BBBY.O ) has agreed to buy smaller rival Cost Plus Inc ( CPWM.O ) for about $495 million in cash, giving Bed Bath access to new markets, customers and more unique products.
The company, which grew sales roughly 10% to $9.5 billion and profits roughly 25% to $990 million in 2011, expects that after the deal, it will post high single digit to a low double digit earnings growth in 2012. More...

May-10 -- Honda wins reversal of small-claims loss over hybrid mileage
According to the Los Angeles Times, California Superior Court Judge Dudley W. Gray II rejected a February decision that awarded Heather Peters $9,867 in damages, close to the maximum $10,000 allowed, saying Honda lawfully advertised that the vehicle conformed to Environmental Protection Agency fuel economy ratings.
Although Honda's victory on appeal will prompt others considering the Peters strategy to take "a second look," the approach still could be valid depending on the circumstances, said Donald Earl Childress III, who teaches civil procedure at Pepperdine University School of Law. More...

May-10 -- OPEC Says 'Plentiful' Global Oil Supplies Outpace Demand
VIENNA (AFP) OPEC revised its 2012 world oil demand outlook slightly upwards on Thursday citing a stable U.S. economy and the shutdown of nuclear plants in Japan, which boosted demand.
The extra OPEC oil is filling gaps caused by an unusually large number of supply outages globally. More...

May-10 -- Rural post offices to remain open, cut hours
The U.S. Postal Service, following pressure from U.S. senators to keep rural post offices open, said it plans to cut hours at as many as 13,000 locations to save $500 million a year, rather than close the smallest ones.
The plan still needs to be reviewed by the postal regulatory commission, which is expected to take about 90 days, Rupert said. More...

May-10 -- Treasury Prices At Session Lows After Data, Ahead Of Supply
Treasuries rose, pushing 10-year yields to the lowest level since February, as Greek leaders struggled to form a government, underscoring political risk in the euro region and adding demand for the safest assets.
In addition to today's three-year auction, the government will sell $24 billion of 10-year debt tomorrow and $16 billion of 30-year bonds on May 10. More...

May-10 -- Deutsche Telekom: In Talks To Improve Economies Of Scale In The US
Shares of MetroPCS Communications Inc. ( NYSE: PCS ) and Leap Wireless International Inc. ( NASDAQ: LEAP ) are shooting up today following a report at Bloomberg News that German phone company Deutsche Telekom AG (OTC: DTEGY.PK) is considering a merger of its T-Mobile USA unit with MetroPCS that would give DT a controlling interest in the combined company.
T-Mobile USA's operating income rose 7.2 percent to $1.3 billion. More...

May-10 -- Sony Striving to Cut Its Way From Record Loss to Profit
TOKYO, May 10 (Reuters) - Sony Corp predicted a return to profit this year as it looks to halve the losses in its TV business that pushed the Japanese consumer electronics giant to a record loss of $5.74 billion in the year just ended.
"We consider fiscal year 2012 to be the very important year to rehabilitate the electronics division," said Sony's Chief Financial Officer Masaru Kato. More...

May-10 -- UniCredit Net Profit Up 13%; Trading Offsets Fee Decline
MILAN (Reuters) - Net profit at UniCredit ( CRDI.MI ), Italy's biggest bank by assets, soared above forecasts in the first quarter, helped by hefty trading gains on its own bonds as well as improved profitability in its recession-hit Italian home market.
The lender raised 7.5 billion euros in a rights offer in January to meet capital targets set by the European Banking Authority. More...

May-10 -- India May Export Wheat from Government Stocks
Four bumper harvests over the past five years have swelled food grain production across the northern states of Punjab and Haryana, collectively known as the "granary of India."
More...

Thursday

May-10 -- Green Mountain founder feeling burned by stock flap
A representative for Krispy Kreme could not immediately be reached for comment.
On March 9, Green Mountain shares fell 16 percent to $52.59 on Starbucks' introduction of a machine for home-brewing single cups of espresso and coffee, a challenge to Green Mountain 's Keurig system. More...

May-10 -- Cisco Forecasts Fourth-Quarter Sales, Profit Below Estimates
Chambers sought to reassure analysts.
The growth has come after CEO John Chambers refocused Cisco away from the consumer markets it had pursued and back onto the core networking business. More...

May-10 -- Spain takes 45% stake in Bankia
RODRIGO RATO stepped down yesterday as chairman of Spanish lender Bankia, helping clear the way for a rescue plan that the government hopes will persuade international investors of the country's financial stability.
The government will demand banks raise provisions to a level equivalent to 30 percent of loans to housebuilders, one of the sources told Reuters, up from a current 7 percent. More...

May-10 -- Fiserv Case-Shiller Home Price Insights: US Housing Markets Stabilizing ...
Home prices in the Madera-Chowchilla metro area have plummeted more than 53% since the third quarter of 2006.
Prices are expected to improve next year with an average annualized increase of 4.2 percent by 2013. More...

May-10 -- Bed Bath & Beyond to Acquire Cost Plus
NEW YORK (Reuters) - Home goods chain Bed Bath & Beyond Inc ( BBBY.O ) has agreed to buy smaller rival Cost Plus Inc ( CPWM.O ) for about $495 million in cash, giving Bed Bath access to new markets, customers and more unique products.
The deal, which is expected to close during Bed Bath & Beyond's second quarter subject to customary conditions, is expected to be slightly accretive to the company's net earnings for 2012, after transaction and integration costs. More...

May-10 -- Postal Service drops plans to close thousands of post offices, proposes ...
The U.S. Postal Service, following pressure from U.S. senators to keep rural post offices open, said it plans to cut hours at as many as 13,000 locations to save $500 million a year, rather than close the smallest ones.
BILLINGS - An announcement Wednesday from the Post Master General could save 85 Montana post offices at risk of closing, but representatives for Montana say the new plan isn't much better. More...

May-10 -- Drop in homes for sale is strengthening prices in many spots
In the West the median price was down 0.9 percent to $196,200 while sales rose 5.9 percent in the first quarter and are up 1.4 percent from the previous year.
Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized. More...

May-10 -- ICBC Gets Fed Nod as Chinese Banks Seek US Growth
The U.S. central bank said Industrial and Commercial Bank of China (ICBC), the biggest bank in China and 70.7pc owned by the government of China, will become a bank holding company.
The bank, which is 71pc owned by the Chinese government, already has two branches in New York and a limited branch in Los Angeles. More...

May-10 -- Federal Regulators May Propose Rules For Mortgage Lending Fees In Summer
WASHINGTON The Consumer Financial Protection Bureau is considering new rules on mortgage fees, including banning origination charges based on the size of the loan.
Congress created the Consumer Financial Protection Bureau as part of the Dodd-Frank act, drafted in reaction to the housing bubble and financial collapse of 2007. More...

May-10 -- Tesla Motors' CEO Discusses Q1 2012 Results - Earnings Call Transcript
PALO ALTO, Calif. Electric vehicle maker Tesla Motors Inc. on Thursday said its sales fell and its first-quarter loss increased, but investors pushed its shares up 8 percent after hours, given the company's brightening revenue outlook.
Analysts had been modeling $32.2 million and a net loss of 71 cents. More...

May-10 -- Asian Shares Little Changed As Europe Worries Resurface; Toyota Gains
Hong Kong shares lost 0.8 percent on Wednesday, extending a losing streak into a fifth day on worries that political uncertainty in Greece could lead the unravelling of its hard-won bailout deal.
Hong Kong-listed Zijin Mining Group Co., China's largest gold miner, dropped 4.5 percent. More...

May-10 -- Toyota quarterly profit quadruples on recovery
In the current fiscal year, Toyota expects to sell 8.7 million vehicles.
An increase of 158,000 units sold in Japan helped offset a 159,000 decrease in North America. More...

May-10 -- Michigan: Ex-Mayor Is Accused in Scheme Involving Pension Fund
Former Detroit Mayor Kwame Kilpatrick is once again under scrutiny as the U.S. Securities and Exchange Commission filed a civil suit Wednesday alleging the exiled Kilpatrick, former city Treasurer Jeffrey W. Beasley and the investment adviser to Detroit's public pension funds were involved in an unethical investment scheme involving lavish kickbacks in exchange for influence over the city's investments.
Build 16: 125 ms (NewsList).Completed macro ody_bottom_caro_eight.Build 9: 953 ms (Content).Build 9: 0 ms (Content).Completed macro ody_conveyor.Parsing macro c4_inteltxt.Build 9: 0 ms (Content).Completed macro c4_inteltxt.Parsing macro ody_footer.Parsing macro ody_analytics. More...

May-10 -- Fannie Mae posts biggest profit since 2007
Fannie Mae reports $2.7 billion in net profits for the first quarter of 2012, compared to net losses of $6.5 billion for the first quarter of 2011, and net losses of $2.4 billion in the fourth quarter of 2011.
After preferred stock dividends, net loss to common shares for the quarter was $98 million or $0.02 per share, compared to net loss of $8.7 billion or $1.52 per share last year. More...

May-10 -- Protesters rally against Bank of America
Moynihan said people could call the bank for help, which also elicited laughter.
The bank hired off-duty Charlotte police officers to sit inside the meeting, as well as a private security firm to work outside. More...

May-10 -- House Votes Overwhelmingly to Extend Export-Import Bank
House Majority Leader Eric Cantor, a Virginia Republican, and House Minority Whip Steny Hoyer, a Maryland Democrat, reached the deal on Friday, signaling a likely end to months of uncertainty about the future of the government bank.
"While supporters of the Ex-Im Bank claim that it is self-sufficient and doesn't add to the federal deficit, the real problem is that the bank's financing helps some companies to the detriment of other firms and taxpayers," Club for Growth Vice President Andy Roth told The Hill. More...

May-10 -- GlaxoSmithKline to take Human Genome Sciences buyout offer to shareholders
LONDON (Reuters) - GlaxoSmithKline will take its $2.6 billion bid for long-time partner Human Genome Sciences direct to shareholders this week, after its takeover offer was rejected last month by the U.S. biotech group's board.
The drug's sticker price is $35,000 annually. More...

May-10 -- Activision's first-quarter profit and revenue beat forecasts
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in millions, except per share data) Three Months Ended March 31, 2012 2011 Net revenues: Product sales $874 $1,061 Subscription, licensing and other revenues (1) 298 388 Total net revenues 1,172 1,449 Costs and expenses: Cost of sales - product costs 257 299 Cost of sales - online subscriptions 59 63 Cost of sales - software royalties and amortization 31 61 Cost of sales - intellectual property licenses 7 29 Product development 124 142 Sales and marketing 79 60 General and administrative 102 102 Restructuring - 19 Total costs and expenses 659 775 Operating income 513 674 Investment and other income (expense), net 1 2 Income before income tax expense 514 676 Income tax expense 130 173 Net income $384 $503 Basic earnings per common share $0.34 $0.42 Weighted average common shares outstanding 1,120 1,173 Diluted earnings per common share (2) $0.33 $0.42 Weighted average common shares outstanding assuming dilution 1,127 1,182 (1) Subscription, licensing and other revenues represents revenues from World of Warcraft subscriptions, Call of Duty Elite memberships, licensing royalties from our products and franchises, value-added services, downloadable content, and other miscellaneous revenues. (2) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders.
Net income (post-tax/expenses profit) was also down year over year, with the pub/dev reporting a remainder of $384 million for Q1 2012, as compared with $503 million in Q1 2011. More...

May-10 -- Chinese Stocks Fall on Export Data While Aussie Climbs on Jobs
NTT Data Corp. tumbled 12 percent to 242,400 yen after the network service provider forecast net income will rise 25 percent to 38 billion yen ($476 million) for the fiscal year, missing analysts' estimate of a 47.3 billion yen gain.
Capcom jumped 5.3 percent in Tokyo after the video-game developer said full-year net income will increase 46 percent. More...

Wednesday (Update 2)

May-10 -- US STOCKS-S&P 500 flirts with two-month low before rebound
The market today is tame compared with last summer, when the Dow routinely swung by hundreds of points a day.
U.S. -listed shares of Banco Santander SA dropped 5.5 percent to $6.02 in premarket trading. More...

May-10 -- Bank Of Spain Confirms Request To Rescue Bankia-BFA
RODRIGO RATO stepped down yesterday as chairman of Spanish lender Bankia, helping clear the way for a rescue plan that the government hopes will persuade international investors of the country's financial stability.
MADRID, May 8 (Reuters) - Spain has owned up to the extent of its banking problem with a $10 billion euro rescue plan for Bankia SA, the country's fourth-biggest lender that is saddled with a huge toxic property portfolio, but investors want more details to be convinced that the financial system is recovering. More...

May-10 -- 10 housing markets set for double-digit price gains
The housing market is more affordable than it has been in the last 40 years and house prices are expected to bottom later this year (down 36 percent from 6 years ago), Business Insider’s (BI) Mamta Badkar reports.
Fiserv's Stiff forecasts that Madera, Calif., will produce the largest home price gain over the next two years. More...

May-10 -- Three Chinese banks expanding in US
The U.S. central bank said Industrial and Commercial Bank of China Ltd (ICBC), the biggest bank in China and 70.7 percent owned by the government of China, will become a bank holding company.
In other decisions, the Fed approved a bid by Bank of China Ltd, the third largest Chinese bank, to expand its U.S. presence by setting up a branch in Chicago. More...

May-10 -- Protests mark Bank of America meeting; four arrested
Associated Press May 8, 2012, 1:03 p.m. Homeowners with a Bank of America mortgage have good reason to check their mailbox.
The main speaker at the protest was the Green Party Congressional Candidate Ursula Rozum, who is running against Ann Marie Buerkle and Daniel Maffei for New York's 24th district. More...

May-10 -- Hamlet, Pop. 400, You Have Mail
The U.S. Postal Service , following pressure from U.S. senators to keep rural post offices open, said it plans to cut hours at as many as 13,000 locations to save $500 million a year, rather than close the smallest ones.
The Postal Service plans to meet with communities to talk about a range of options for cutting costs at local offices. More...

May-10 -- Honda hybrid owner's gas mileage claim win overturned
According to the Los Angeles Times, California Superior Court Judge Dudley W. Gray II rejected a February decision that awarded Heather Peters $9,867 in damages, close to the maximum $10,000 allowed, saying Honda lawfully advertised that the vehicle conformed to Environmental Protection Agency fuel economy ratings.
Peters, who has practiced law, claimed that Honda could owe more than $2 billion had all affected owners opted out of the class-action settlement and sued in small-claims court. More...

May-10 -- Cisco Third-Quarter Profit Rises as Networking Spending Gains
After the close of trading this afternoon, Cisco is expected to post a third-quarter profit of 47 cents per share on revenue of $11.6 billion, with Wall Street analysts targeting modest growth from earnings of 42 cents per share on $10.9 billion in sales last year.
Update: Cisco just got to the fiscal fourth-quarter guidance on the conference call. More...

May-10 -- Yahoo investor escalates pressure for management change
SAN JOSE, Calif. _ The major Yahoo Inc. investor who exposed an incorrect degree in CEO Scott Thompson's background demanded on Monday the company release more information on the appointment of Thompson and some board members.
Yahoo has acknowledged that Thompson does not have a computer science degree, initially calling the discrepancy an "inadvertent error." More...

May-10 -- Volcker: Big Banks are too big, but that's OK
A proposal doing almost exactly that known as the Volcker Rule , after former Federal Reserve Chairman Paul Volcker was part of the Dodd-Frank financial reform law and has been opposed by most Republicans in Congress.
Ever since the financial crisis there has been much talk about whether the federal government should go further to break up the big banks that dominate the U.S. financial services industry. More...

May-10 -- Oil prices fall for sixth straight day
The benchmark contract fell 2.5 percent on Friday.
NEW YORK (AP) -- The nation's crude oil supplies increased last week, the government said Wednesday. More...

May-10 -- Fannie Mae earns $2.7B in Q1, will pay gov't $2.8B
May 9 (Bloomberg) -- Fannie Mae, the biggest backer of U.S. home loans, said it won't need Treasury Department aid to balance its books for the first time since the company was seized by federal regulators in 2008 amid losses that pushed it to the brink of collapse.
Fannie, along with sister firm Freddie Mac , was put into conservatorship by the federal government at the height of the financial crisis in 2008, and has been steadily infused with cash since. More...

May-10 -- Activision Blizzard's Call Of Duty And Subscriber Trends The Focus Of Earnings
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in millions, except per share data) Three Months Ended March 31, 2012 2011 Net revenues: Product sales $874 $1,061 Subscription, licensing and other revenues (1) 298 388 Total net revenues 1,172 1,449 Costs and expenses: Cost of sales - product costs 257 299 Cost of sales - online subscriptions 59 63 Cost of sales - software royalties and amortization 31 61 Cost of sales - intellectual property licenses 7 29 Product development 124 142 Sales and marketing 79 60 General and administrative 102 102 Restructuring - 19 Total costs and expenses 659 775 Operating income 513 674 Investment and other income (expense), net 1 2 Income before income tax expense 514 676 Income tax expense 130 173 Net income $384 $503 Basic earnings per common share $0.34 $0.42 Weighted average common shares outstanding 1,120 1,173 Diluted earnings per common share (2) $0.33 $0.42 Weighted average common shares outstanding assuming dilution 1,127 1,182 (1) Subscription, licensing and other revenues represents revenues from World of Warcraft subscriptions, Call of Duty Elite memberships, licensing royalties from our products and franchises, value-added services, downloadable content, and other miscellaneous revenues. (2) The company calculates earnings per share pursuant to the two-class method which requires the allocation of net income between common shareholders and participating security holders.
Activision's beloved franchise may be crushing Star Wars: The Old Republic , but this MMO is no longer a cash cow. More...

May-10 -- Hostess says jobs of 856 Indiana workers in danger
Hostess Brands warned its 250 employees in Washington state they could lose their jobs in 60 days, a spokesman for the state Employment Security Department said Tuesday.
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May-10 -- Wells Fargo: Feds may seek penalties in lending probe
San Francisco-based Wells Fargo is the largest servicer and originator of home loans in the United States.
Just last quarter it reported earnings of $1.3 billion up more than 27% from the same quarter last year. More...

May-10 -- News Corp. Tops Profit Estimates, Boosts Buyback to $10 Billion
British lawmakers declared Rupert Murdoch unfit to run a major international company.
Net income in the three months to March 31 rose to $937 million, or 38 cents per share, from $639 million, or 24 cents per share, a year ago. More...

May-10 -- Russian plane goes missing in Indonesia, dealing blow to aviation industry (+ ...
Moscow: The Sukhoi Superjet 100, the Russian jet which has gone missing in Indonesia, is a brand new passenger plane built by Russia in a bid to lift its civil aviation industry from a post-Soviet crisis.
Indonesian media reports put the number on board as high as 50, noting that there were "other guests" taken on the flight. More...

May-10 -- NY man admits illegal stock trades for second time
The SEC alleges that David Blech established more than 50 brokerage accounts in the names of family members, friends, and even a private religious institution.
More...

May-10 -- S&P bulletin on Bed Bath & Beyond
NEW YORK (Reuters) - Home goods chain Bed Bath & Beyond Inc ( BBBY.O ) has agreed to buy smaller rival Cost Plus Inc ( CPWM.O ) for about $495 million in cash, giving Bed Bath access to new markets, customers and more unique products.
The home-goods retail giant will pay $22 a share for the Oakland, Calif. -based company. More...

Wednesday (Update 1)

May-09 -- Stocks tumble 1% on Europe woes
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
The Dow closed off 76.44 points (0.59 percent) at 12,932.09, while the broader S&P 500 fell 5.86 (0.43 percent) to 1,363.72. More...

May-09 -- Spanish bond yields cross 6% again
Prime Minister Mariano Rajoy said the debt agency is the only borrower left in Spain that can finance itself on markets as banks, companies and regional administrations have been shut out.
MADRID, May 8 (Reuters) - Spain has owned up to the extent of its banking problem with a $10 billion euro rescue plan for Bankia SA, the country's fourth-biggest lender that is saddled with a huge toxic property portfolio, but investors want more details to be convinced that the financial system is recovering. More...

May-09 -- Glaxo's Bid for Human Genome Turns Hostile: Hot Trends
LONDON (Reuters) - GlaxoSmithKline is to take its unsolicited $2.6 billion takeover bid for Human Genome Sciences direct to shareholders in the U.S. biotech group by launching a tender offer at $13 a share this week.
GlaxoSmithKline, which has profit-sharing agreements with HGS on three drugs but a minimal shareholding, said Wednesday it is offering $13 cash per share for the company. More...

May-09 -- Russian Aircraft Vanishes From Radar During Promotional Flight
JAKARTA (Reuters) - A Russian Sukhoi passenger plane with 46 people on board, including businessmen and Russian envoys, has gone missing during a demonstration flight over West Java in Indonesia, officials said on Wednesday.
A Russian Sukhoi SuperJet with about 44 people onboard has disappeared from radar, The Associated Press reports. More...

May-09 -- Macy's 1Q Profit Up 38% On Higher Sales, Flat Overhead
Macy's Inc.' s (M) fiscal first-quarter earnings rose 38% as appealing merchandise and keeping a cap on costs helped the department store operator's results exceed expectations.
Sales in the quarter ended April 28 increased 4.3 percent to $6.14 billion, the 840-store chain operator said. More...

May-09 -- Fannie Mae Posts Profit, Doesn't Need More Taxpayer Aid
For the first time since the third quarter of 2008, the government-run company did not require taxpayer aid to stay afloat, and it paid the U.S. Treasury $2.8 billion in dividends for the government's stake.
Fannie's total loss reserves declined to $74.6 billion as of March 31, from $76.9 billion at the end of 2011. More...

May-09 -- AOL reports higher profit, says revamp is working
AOL reported first quarter earnings this morning, which saw it posting higher revenues than expected by analysts, with $529.4 million in revenue during the quarter, beating the $527 million consensus.
Profits grew a healthy 349 percent to $21.1 million, up from $4.7 million a year ago. More...

May-09 -- UPDATE 3-Disney earnings rise despite 'John Carter' loss
On an adjusted basis, earnings rose 18% to 58 cents a share, up from 49 cents a share, one year ago.
Consumer products gained 8% to $679 million with operating income up 4% to $148 million. More...

May-09 -- Washington not a 'friendly' state for small business: Report
Dallas earned an A+ in Thumbtack.com's entrepreneur survey.
For all the emphasis placed on taxation, the Thumbtack survey found that small businesses care almost twice as much about licensing regulations as tax rates. More...

May-09 -- Should Yahoo's CEO be fired for lying?
SAN JOSE, Calif. _ The major Yahoo Inc. investor who exposed an incorrect degree in CEO Scott Thompson's background demanded on Monday the company release more information on the appointment of Thompson and some board members.
T he heat is on Yahoo CEO and Stonehill College graduate Scott Thompson, who is facing intense scrutiny over inaccuracies on his resume about the degree he earned there. More...

May-09 -- Stocks to Watch: Macy's, Green Mountain, Demand Media
PORTLAND, Ore. (AP) -- Green Mountain Coffee removed its founder and another board member from their leadership roles on Tuesday after they sold company shares in violation of internal policies.
ElanAir, a South Burlington, Vermont-based company that operates under the name Heritage Aviation, provides travel services to Green Mountain employees, an arrangement that is reviewed and approved by the audit committee for Green Mountain's board, SEC filings show. More...

May-09 -- Bank of America offering thousands of homeowners 6-figure loan discounts
LOS ANGELES -- Homeowners with a Bank of America mortgage have good reason to check their mailbox.
Although the borrower doesn't have to live in the home, the home is required to have been owner-occupied when the loan was awarded. More...

May-09 -- Toyota profits accelerate on disaster recovery
Toyota projects a group net profit of 760 billion yen for the fiscal year ending next March, up 168 percent from the year before, on sales of 22 trillion yen, up 18.4 percent.
Sales for latest quarter rebounded 23% to 5.7 trillion yen, or $71.3 billion. More...

May-09 -- TREASURIES-European crisis worries push yields lower
Treasuries rose, pushing 10-year yields to the lowest level since February, as Greek leaders struggled to form a government, underscoring political risk in the euro region and adding demand for the safest assets.
Should the 10-year yield drop below 1.785 percent it would then target the record low of 1.67 percent reached on Sept. 23, David Sneddon, head of technical analysis in London, wrote today in a note to clients. More...

May-09 -- Comex Gold Lower, at 17-Week Low, on another Commodity-Bearish Risk-Off Day
Political disarray in Greece, a change in the French presidency and renewed concerns about the resilience of the Spanish banking sector sent the euro to a 15-week low against the dollar and propelled German bond futures to record highs.
Silver for July delivery dropped as much as 2.7 percent to $28.675 an ounce, the lowest price since Jan. 9, and was last at $28.895. More...

May-09 -- Japan to provide $12.55 billion to operator of tsunami-ravaged nuclear plant
TOKYO (Kyodo) -- Tokyo Electric Power Co. decided Tuesday to appoint managing director Naomi Hirose as the next president of the ailing utility, which is expected to be effectively nationalized following last year's Fukushima Daiichi nuclear power plant disaster.
In the wake of the Fukushima disaster , the Japanese public has quite understandably turned against nuclear power, and the government has dropped plans to expand nuclear energy from 30 percent to 50 percent of the nation's electricity supply. More...

May-09 -- Crude Oil Falls for Sixth Day in Longest Drop Since 2010
Brent crude lost $1.88, or 1.7 percent, to $111.28 per barrel in London.
U.S. oil stockpiles as of April 27 were the highest since 1990, according to Energy Department data. More...

May-09 -- Dean Foods 1Q Net Jumps 50% On Cost Cuts, Pricing, Volumes
Gregg Engles, chairman and CEO of the company said, "Our financial performance was further bolstered by declining interest expense, resulting in first quarter adjusted diluted earnings per share of $0.31, more than double the previous year and the sixth straight quarter we have delivered adjusted EPS at or above our guidance."
Volumes were also supported by warmer weather, which helped drive ice cream mix sales. More...

May-09 -- Cathay Pacific to reduce costs, flags weak H1
The Hong Kong-based carrier, which already warned of a very challenging 2012, said fuel prices have remained high, the cargo business has shown no sign of a sustained recovery and pressure on economy class yields has continued.
In line with the lowered target, the airline will trim the frequencies on some long-haul routes to North America and Europe. More...

Wednesday

May-09 -- Walt Disney profit jumps 21% despite 'John Carter' flop
On an adjusted basis, earnings rose 18% to 58 cents a share, up from 49 cents a share, one year ago.
Income for Disney's broadcasting rose 37 percent to $229 million. More...

May-09 -- In Greece, coalition government proves elusive amid impasse
Alexis Tsipras, leader of the Coalition of the Radical Left, known as SYRIZA, was given a mandate from President Karolos Papoulias to try to form a government Tuesday, after the front-runner, Antonis Samaras, leader of New Democracy, failed to do so Monday.
Following is a timeline of changes in European governments from the election of Greece 's Pasok Party in October 2009 to votes in France , Germany , Greece and Italy yesterday and key dates for bailouts. More...

May-09 -- Green Mountain chair out after trading violation
PORTLAND, Ore.-- Green Mountain Coffee removed its founder and another board member from their leadership roles on Tuesday after they sold company shares in violation of internal policies.
In all, 127,000 puts and 141,000 calls had changed hands with less than an hour until the close, according to options analytics firm Trade Alert. More...

May-09 -- Occupy Bank of America?
The reduction for qualifying homeowners could amount to monthly savings of up to 35 percent on mortgage payments, Bank of America said in a news release on Monday evening.
What about consumer loan growth? Bank of America has, understandably, backed off from residential mortgage lending in a big way, further emphasizing what a terrible decision it was to purchase Countrywide, despite acquiring an industry leading mortgage origination platform. More...

May-09 -- U.S. Stocks Pare Losses After S&P 500 Touches Two-Month Low
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
Stocks in the Asian benchmark are valued at 12.4 times estimated earnings on average, compared with a multiple of 13 for the S&P 500 and 10.4 times for the Stoxx 600. More...

May-09 -- Idaho, Texas among friendliest for SMBs, finds survey
Dallas earned an A+ in Thumbtack.com's entrepreneur survey.
Idaho, Nevada and Delaware had the most small-business-friendly tax codes; California and New Mexico had the last-friendly tax codes. More...

May-09 -- Prepaid Calling Cards Not The Bargain Many Immigrants Think
J.P. Morgan's Chase retail unit is the largest big bank so far to pitch prepaid monthly debit cards, which typically target consumers who can't afford fees that are being tacked onto regular checking accounts.
Chase's prepaid users aren't charged extra fees for withdrawing money from Chase branches or using tellers or checking balances within the bank's network -- all features that come at a cost at other prepaid-service providers. More...

May-09 -- Yahoo Director Patti Hart to leave board amid flap
"The board intends to make the appropriate disclosures to shareholders promptly upon completion of the review."
Last fall, Ms. Hart was charged with leading the company's efforts to find a new leader after the board ousted Carol A. Bartz as chief executive. More...

May-09 -- Special counsel: FAA's delays 'not unusual'
Special Counsel Carolyn Lerner, whose job is to protect from retaliation government employees who expose mismanagement or wrongdoing, detailed seven FAA whistleblower cases in letters to the White House and Congress.
On Dec. 25, 2009, a landing Northwest Airlines flight came within 0.3 miles horizontally and 200 feet vertically of a departing American Eagle flight. More...

May-09 -- Anadarko wins approval for Utah drilling
Approval for the Greater Natural Buttes project in the Uintah Basin, announced by Interior Secretary Ken Salazar, comes as the Obama administration is supporting natural-gas production as a way to create jobs with a cleaner-burning fuel than coal or oil.
U.S. Sen. Orrin Hatch says Salazar will approve drilling for about 3,500 natural gas wells on public lands in eastern Utah. More...

May-09 -- Oil falls to below $97 as US crude supplies jump
In 2013, diesel fuel retail prices are projected to decline to $4.03 per gallon, 8 cents per gallon lower than the previous outlook.
Retail gas prices have followed, falling 17 cents since reaching $3.936 on April 5. More...

May-09 -- Apollo Earnings Top Views; Portfolio Value Rises 16%
Apollo Global Management LLC (APO) ( APO ), the private-equity firm that went public last year, rose the most in five months after it reported a 20 percent increase in first- quarter profit.
Alternative asset managers have had a hard time convincing investors of their value. More...

May-09 -- Oil Falls a Sixth Day as Stockpiles Gain, Al-Naimi Sees Surplus
"In addition to our spare capacity of 2.5 million barrels per day, we have on the ground, in tanks and in pipelines, about 80 million barrels of inventory.
Mr Qamsari rejected the claim that Iran's oil export to Japan has been reduced by 80%, saying currently Japan imports about 220 thousands barrels of oil per day from Iran. More...

May-09 -- Mexican Tycoon Fixes on KPN
AMSTERDAM (Reuters) - Dutch telecom KPN NV hit back at a surprise move by America Movil to raise its stake in the group, saying the Mexican company's 3.2 billion euro ($4.2 billion) offer was substantially undervalued.
The Hague-based telecoms operator said Tuesday that the Mexican offer of eight euros per share "substantially undervalues the company. More...

May-09 -- After Taking Pay Cut, Sprint CEO Still Defends Apple Deal
Forfeit two million performance units (valued at $2 million) granted to Hesse on February 22, 2012 under the 2012 Long-Term Incentive Compensation Plan.
On paper, Dan Hesse got a 31 percent pay raise last year from 2010. More...

May-09 -- Borrowers Face Big Delays In Refinancing Mortgages
Freddie Mac has released the results of its first quarter refinance analysis showing that 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table.
The net dollars of home equity converted to cash as part of a refinance, adjusted for inflation, was at the lowest level in nearly 17 years (since the third quarter of 1995). More...

May-09 -- New Mexico: Lea County Is Chosen for $1 Billion Ghost Town for Research
LAS CRUCES - Hobbs, and not Las Cruces, will be the location of a $1 billion Center for Innovation, Testing and Evaluation.
I congratulate Lea County on being selected, and I commend Pegasus for bringing jobs to New Mexico." More...

May-09 -- 1300 radioactive tubes at California nuclear plant damaged beyond repair
"Despite some erroneous reports in the media, there is no NRC timetable for restart of the San Onofre nuclear reactors, which have been shut down over safety issues affecting the steam generators.
Traces of radiation escaped at the time, but officials said there was no danger to workers or neighbors. More...

May-09 -- Chesapeake's Private Jets in Cross Hairs
Chesapeake and Chief Executive Aubrey McClendon have been under pressure in recent from investors who are advocating for change in the company's leadership and now its business model.
The lawsuits are brought against McClendon, Chesapeake and the company's board of directors. More...

Tuesday

May-08 -- Markets Watch Europe Amid Flurry of Earnings
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
Ten- year Treasury yields fell two basis point to 1.86 percent after losing six points earlier. More...

May-08 -- Spain to spend billions on bank rescue
RODRIGO RATO stepped down yesterday as chairman of Spanish lender Bankia, helping clear the way for a rescue plan that the government hopes will persuade international investors of the country's financial stability.
Later, an official from the economy ministry told the AFP news agency, "We are finalising a plan to clean up the bank," referring to Bankia. More...

May-08 -- Too broke to go bankrupt
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CHILLICOTHE --One of the owners of Floral Hills Memory Gardens has filed for bankruptcy in Nevada and has requested to surrender the cemetery properties to pay property tax debts. More...

May-08 -- DJIA Slides For Fourth-Straight Session On France, Greece Worries
The Nasdaq and S&P 500 turned positive in early afternoon trading Monday even after election results in Greece and France raised concerns about those countries' commitment to budget cuts aimed at easing Europe's debt crisis.
Bank of America led the gainers on the blue-chip Dow, adding 2.8 percent. More...

May-08 -- Pink Slime plants close - handing out pink slips
"Last month, Beef Products Inc. made the difficult business decision to suspend operations at our three plants in Amarillo, Texas; Garden City, Kansas; and Waterloo, Iowa while we attempted to rebuild markets following the unfounded and misguided attacks on our Boneless Lean Beef Trimmings.
I continue to encourage you to visit www.BeefIsBeef.com for the facts about Boneless Lean Beef Trimmings and for up-to-date news and information." More...

May-08 -- GAO: Taxpayers could turn $15.1 billion profit on AIG bailout
The U.S. Treasury has announced a sale of $5 billion worth of American International Group, Inc. (NYSE:AIG) shares, $2 billion of it will be repurchased by AIG. This is the third offering by the Treasury off American International Group, Inc. (NYSE:AIG shares in the last year which has decreased the government's stake from 70% to 63%.
The U.S. government Sunday had announced that it had agreed to sell $5 billion in AIG stock. More...

May-08 -- Yahoo CEO apologizes to employees for allowing inaccuracy in bio without ...
A disgruntled Yahoo shareholder questioned the qualifications and integrity of recently hired CEO Scott Thompson after exposing a misrepresentation about the executive's education.
Your article suggests that Thompson breached Yahoo's code of conduct by potentially fibbing about his education and serving on 2 outside boards, when you state "Fibbing about his education wasn't Thompson's only breach of Yahoo!'s code of conduct." More...

May-08 -- Reflecting on Buffett, Business and Politics
Record earnings at Berkshire's largest units have helped build the company's cash holdings ( 2FA ) to $37.8 billion.
"Toyota will be a major auto company far beyond my lifetime." More...

May-08 -- Electronic Arts Shares Fall on Weak Outlook
Excluding deferred revenue and certain costs, including stock options charges, EA would have earned $56 million, or 17 cents a share, on sales of $977 million.
Total revenues for the quarter grew to $1.37 billion from $1.09 billion in the prior-year quarter. More...

May-08 -- Facebook shares elusive for small investors
Wall Street executives estimate that small investors could get a bigger piece when it comes to Facebook's offering -- between 20% and 25%, according to a report in the New York Times.
Retail investors' first crack at Facebook stock will come after it starts trading, perhaps at a market capitalization north of $100 billion if underwriters successfully engineer a first-day pop. Even if Facebook increases earnings through next year at the same pace it did in 201165%the $100 billion figure translates to 36 times 2013 earnings. More...

May-08 -- Hey you guys, MasterCard has a digital strategy too: PayPass Wallet Services
Toward that end, the financial company today announced PayPass Wallet Services, an agnostic suite of tools designed to simplify the digital payments industry.
MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in Australia, the U.S., Canada and U.K. and, subsequently, will include other countries. More...

May-08 -- Greece could drop euro but tragedy won't follow
Instead of sparking growth, the eurozone has lapsed back into recession.
Photograph: Getty Images. More...

May-08 -- Consumers Raised Debt in March
Consumer borrowing on credit cards, car loans, student loans and other types of installment debt grew at a seasonally adjusted 10.2% annual rate to $2.54 trillion in March from February, the Federal Reserve said Monday.
Now that the economy is showing signs of life again, cardholders and banks are beginning to reconcile and that's good news for economic growth, say experts. More...

May-08 -- Groupon stock gets a lift from CEO Andrew Mason's letter
Tomorrow, we aim to move upstream and serve as the entry point for local transactions."
In the letter, Mason noted how the company has grown to 11,000 employees and 48 countries in just a few years. More...

May-08 -- Electronic Arts Posts a Loss and Loses Big Game Subscribers
EA expects non-GAAP revenue of only $500 million (versus the expectation of $925 million) and a non-GAAP loss per share of 40 cents to 45 cents.
You can shave at least 100K of the Old Republic numbers when Diablo is released. More...

May-08 -- Temasek, RRJ Capital invest $468 mln in Cheniere
Cheniere said Monday it plans to use the proceeds from Temasek and RRJs investments with cash on hand to buy $500 million of the $2 billion of equity securities anticipated to be issued by Cheniere Energy Partners LP. The move will help finance the Sabine Pass LNG liquefaction project, which will cool natural gas into a liquid form so it can be shipped on specially designed tankers.
Cheniere Energy, Inc. (NYSE:LNG) stock's trade at beginning with a price of $16.75 and throughout the trading session climbed at a high of $16.91 other than when day-trade ended the stock finally fell -2.72% to $16.46. More...

May-08 -- Babe Ruth's Sudbury home for sale
Some of the changes include a dream kitchen, a detailed family room and master suite with vaulted ceilings, according to the listing.
Though the home has been "meticulously renovated throughout," Adamson said, touches of the Sultan of Swat can still be found, including burn marks from Ruth's cigar ashes in the wooden floor of the living room, and a third-floor memorabilia room containing several photographs of the Hall of Fame slugger who played 22 seasons in the Major Leagues. More...

May-08 -- GE to buy 15% of China XD Electric
GE, which is expanding in China as the growing middle class requires more electricity, said the companies will deliver electric transmission and distribution (TD) and grid automation solutions to customers globally.
GE's digital energy business supplies smart grid secondary equipment, and state-controlled conglomerate China XD is a global supplier of smart grid primary equipment. More...

May-08 -- Diamond Foods Names Food Industry Veteran Driscoll As President, CEO
Driscoll, 53, began his career in 1980 in sales with Procter & Gamble, and joined Nestle Foods in 1985.
Diamond Foods interim CEO Rick Wolford will hand the reins to Brian Driscoll, who joins the San Francisco company on May 8 as president and CEO. More...

May-08 -- Safeway grocery says moving to crate-free pork supply
The Humane Society of the United States supports the move.
Safeway's decision places the company on one side of a brewing fight that pits U.S. farmers and agribusiness against food safety groups and animal-rights organizations. More...

Monday (Update 2)

May-08 -- US consumers upped their borrowing in March
The much bigger than expected increase in consumer credit in March reflected the biggest increase in credit since November of 2001.
The total for both revolving accounts (mostly credit cards) and non-revolving accounts (primarily auto, student and personal loans) reached $2.54 trillion. More...

May-08 -- Amid the Facebook Frenzy, Some Caveats--and Some Alternatives
Wall Street executives estimate that small investors could get a bigger piece when it comes to Facebook's offering -- between 20% and 25%, according to a report in the New York Times.
The penalty? You may not be invited to participate in future IPOs. More...

May-08 -- Babe Ruth's home in Sudbury, Mass., is for sale: $1.65M
Some of the changes include a dream kitchen, a detailed family room and master suite with vaulted ceilings, according to the listing.
The third floor houses a room devoted to the storied baseball player complete with pictures and baseball memorabilia. More...

May-08 -- Electronic Arts Shares Skid as Outlook Disappoints
EA expects non-GAAP revenue of only $500 million (versus the expectation of $925 million) and a non-GAAP loss per share of 40 cents to 45 cents.
NEW YORK ( TheStreet ) --Shares of Electronic Arts ( EA ) are slumping in extended trading after the video game maker forecast a wider than anticipated loss for its fiscal first quarter ending in June. More...

May-08 -- Bankia chief Rato steps down as Spain readies bailout
The euro zone's fourth-largest economy is widely considered the next weak link in the bloc's debt crisis after the rescue of Portugal, Greece and Ireland, and Bankia is at the core of market concerns over the potential cost of a Spanish bank bailout.
There has been concern recently over the financial health of Bankia, which groups seven Spanish savings banks. More...

May-08 -- Buffett sees tough times for Europe, but won't stop investing
Record earnings at Berkshire's largest units have helped build the company's cash holdings to $37.8 billion.
OMAHA, Neb. -- Billionaire Warren Buffett said Monday that Europe will have a hard time resolving its fiscal problems because of the structure of the European Union and this weekend's election results in Greece and France. More...

May-08 -- US STOCKS-S&P ends almost flat; investors shrug off Europe
Futures off: Dow 54 pts, S&P 7 pts, Nasdaq 15.25 pts By Ryan Vlastelica NEW YORK, May 7 (Reuters) - U.S. stock index futures fell on Monday as elections in France and Greece stirred up new uncertainties about how the region will tackle its ongoing debt crisis.
Jiangxi Copper Co., China's biggest producer of the metal, slid 3.3 percent to HK$18.30. More...

May-08 -- Government Watchdog Says AIG Bailout Could Turn $15.1B Profit For Taxpayers
WASHINGTON — The U.S. Treasury is to sell $5 billion worth of shares in American International Group Inc. (AIG) in a stock offering, with the bailed-out insurer buying $2 billion.
Don't get too excited because the TARP program is currently showing a loss of $60 billion despite the belief that TARP is going to turn a profit for taxpayers. More...

May-08 -- Empire State Building cuts energy use 20%
NEW YORK May 7 (Reuters) - An upgrade of New York's Empire State Building has reduced the skyscraper's energy use by more than expected, the project's partners said on Monday.
NEW YORK (Reuters) - The Empire State Building has long been a signature feature of Manhattan's skyline. More...

May-08 -- Greece could drop euro but tragedy won't follow
One of the big fears is that the new Greek leadership will block cuts necessary for desperately needed bailout funds, which could ultimately send the Εurozone into chaos.
Many investors were doing just that on the belief that Greece would be forced to exit the union, leaving the euro stronger over the long term. More...

May-08 -- Barneys New York Taken Over by Perry Capital in Debt Swap
Under a debt-for-equity swap with Perry Capital, as well as other lenders, Ron Burkle's Yucaipa Cos and current owner Istithmar World, the chain's long-term debt will fall to $50 million from $590 million, Barneys said on Monday.
In 2011, comparable sales rose by a double-digit percentage, Barneys said. More...

May-08 -- Warren Buffett: Yahoo has a trust problem
A disgruntled Yahoo shareholder questioned the qualifications and integrity of recently hired CEO Scott Thompson after exposing a misrepresentation about the executive's education.
Jackson agrees with Loeb that the Yahoo board has a dearth of experience in advertising, and dealing with broadcasters and content providers. More...

May-08 -- Exxon Mobil tops Fortune 500 list
Click the image to the right for specifics on Arizona's Fortune 500 companies.
While Wal-Mart's recent bribery scandal has dealt a short-term fiscal blow to the retailing behemo, the oil giant's ascension was driven by the simple fact of making an awful lot of money. More...

May-08 -- Citigroup Pays $41 Million to Sponsor NYC Bike-Share Program
New York's latest transportation initiative got an official color on may 7 -- plus $41 million sponsorship from Citi.
May 7 (Bloomberg) -- Citigroup Inc. agreed to pay $41 million to sponsor New York City's bicycle-rental program,. More...

May-08 -- High-Grade Bond Yields Hit Record Low
NEW YORK; U.S. Treasuries rose on Monday, pushing benchmark yields to three-month lows, after voters in France and Greece rejected leaders linked to austerity measures used to fight the euro zone debt crisis.
Average junk-bond yields hit 6.95% at the end of last week, matching the all-time low set in 2005, according to the Bank of America Merrill Lynch High-Yield Master II Index. More...

May-08 -- Shareholder Calls for Chesapeake to Be Open to Offers
In a letter to Chief Executive Aubrey McClendon, Southeastern Asset Management, holder of a 13.6 percent stake in Chesapeake, acknowledged the "dangers of opening such conversations" as the company struggles with concerns about McClendon's business dealings, on top of the low natural gas prices.
Chesapeake Energy Corp. said its board will name an independent, nonexecutive chairman, as well as renegotiate the terms of the company's Founder Well Participation Program (FWPP) with Chairman and Chief Executive Officer Aubrey K. McClendon. More...

May-08 -- OIL FUTURES: Crude Off For 4th Day; Below $98/Bbl On Demand Woes
On the New York Mercantile Exchange, light sweet crude futures for delivery in June traded at USD97.61 a barrel during U.S.afternoon trade, giving back 0.90%.
The euro fell as much as 1 percent against the dollar to the lowest level since January. More...

May-08 -- Groupon: 30% of North America transactions mobile
Groupon CEO, Andrew D. Mason sent out a letter to the stockholders today addressing what the company accomplished in 2011 and what they have planned for 2012 and beyond.
Based in Silicon Valley, Tom Taulli is in the heart of IPO land. More...

May-08 -- Wynn Resorts 1Q Net Slips 19% On Softer Take In Vegas
Food and beverage revenues increased 2.6% to $108.9 million, retail revenues were $19.8 million in the quarter, down 1.2% from last year, and entertainment revenues increased 2.2% to $21.1 million from the first quarter of 2011.
SJM's gaming revenue for the first quarter increased 8.5 percent to HK$19.7 billion, accounting for 27 percent of Macau's casino market. More...

May-08 -- Pimco Says Wells Fargo Not to Blame for Record Mortgage Share
Fellow credit ratings agency, Fitch also expressed criticism last week but it was less harsh.
Lenders including Bank of America Corp., the former market leader whose share fell to 4.2 percent, have scaled back after losses and lawsuits sparked by faulty home lending and servicing, as well as so-called Basel III regulations that are set to require banks to hold more capital when owning relatively large amounts of servicing contracts. More...

Monday (Update 1)

May-07 -- Warren Buffett says buying stocks amid market dip
Record earnings at Berkshire's largest units have helped build the company's cash holdings ( 2FA ) to $37.8 billion.
The Fed's proposed 10 percent limit in counterparty risk to an entity is meant to contain the damage from the collapse of a large financial institution or government. More...

May-07 -- Little Lies; Big Lies - Yahoo! CEO Scott Thompson's Revisionist History
When Yahoo appointed former PayPal President Scott Thompson as CEO, it could not have imagined that things would get so out of hand so quickly.
Imagine the high-ranking Yahoo executives who perhaps viewed themselves as viable candidates for the corner office. More...

May-07 -- Treasury to Sell $5 Billion in AIG Stock
The U.S. Treasury has agreed to cut its ownership stake in American International Group Inc. to 63 percent by selling 163.9 million shares for approximately $5 billion, with the insurer agreeing to buy back about $2 billion worth.
AIG has said that it intends to buy up to $2 billion worth of the offering. More...

May-07 -- Allscripts adopts defense against takeover
One trigger of the plan is if a person or entity acquired 10 percent or more of the company's stock without board approval.
NASDAQ:MDRX shares fell in mid-2010 to slightly under $16 per share but climbed in the first half of 2011 to over $22 per share. More...

May-07 -- Oil Slumps to 2012 Low as European Elections Stir Concern
The benchmark contract fell 2.5 percent on Friday.
NYMEX June heating oil fell 7.81 cents, or 2.53 percent, to settle at $3.0088 a gallon. More...

May-07 -- Rato Steps Down at Bankia as Spain May Use Public Cash for Banks
The euro zone's fourth-largest economy is widely considered the next weak link in the bloc's debt crisis after the rescue of Portugal, Greece and Ireland, and Bankia is at the core of market concerns over the potential cost of a Spanish bank bailout.
The Bankia group, formed from seven savings banks and led by former International Monetary Fund Managing Director Rodrigo Rato, held 38 billion euros ($49 billion) of real estate at the end of 2011, more than any other Spanish lender. More...

May-07 -- Coming to an airport near you: Faster security screenings
In the same time that the PreCheck program screened 1 million passengers since it launched in October, the TSA has processed nearly 335 million passengers.
The TSA acknowledges that the new security program, dubbed PreCheck, has served only a small fraction of the nation's air travelers. More...

May-07 -- TREASURIES-European austerity uncertainty pushes yields lower
Between the Japanese tsunami, political unrest in the Middle East, the U.S. credit downgrade and the European debt crisis, the market repeatedly retreated to the safety of U.S. Treasuries despite the paltry yields and the increasingly ugly financial condition of the U.S. Just 12% of managers of intermediate bond funds outperformed the Barclays index last year.
Multisector funds also may have some holdings of non-U.S. bonds. More...

May-07 -- Comex Gold Lower Amid a "Risk-Off Trading Day, But Some Safe-Haven Buying Seen
For the week, the gold price fell 1.2 percent, from $1,662.80 an ounce to $1,642.10, and the silver price dropped 3.0 percent, from $31.27 an ounce to $30.34.
Silver fared slightly worse than the price of gold yesterday, as it retreated $0.49, or 1.6%, to $30.20 per ounce. More...

May-07 -- Carl Icahn Wins CVR Energy After $2.6 Billion Offer
Carl Icahn won control of oil refiner CVR Energy Inc as shareholders backed his $2.6 billion takeover, ending a three-month long tussle with the company's board.
Icahn, who is one of the company's largest shareholders, in February launched. More...

May-07 -- Washington state: Eight on 2012 Fortune 500 list
Washington state has eight companies on the 2012 Fortune 500 list that came out on Monday; Exxon Mobil regained the top spot in the country with nation-leading revenues of $453 billion last year.
It was No. 3 in terms of profits - earning $25.9 billion on revenues of $108.2 billion. More...

May-07 -- Avis Budget posts Q1 loss on acquisition costs
May 7, 2012 (GlobeNewswire via COMTEX) -- -- Revenue grew to $1.6 billion, a 31% increase from first quarter 2011. -- Adjusted EBITDA increased 43% to $119 million, excluding certain items, the Company's highest-ever first quarter result. -- Net income grew 17%, to $14 million, excluding certain items, and GAAP net loss was $23 million.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenues of $1.59 billion for the quarter. More...

May-07 -- Jump in Subscribers Carries Dish Network to 1Q Beat
Net income attributable to Dish Network declined to $360.31 million or $0.80 per share from $549.39 million or $1.22 per share.
The decrease in profit is partly due to the fact that last year's results had a $341M boost from a reversal of litigation expenses following the settlement of the patent infringement lawsuit with TiVo. More...

May-07 -- Tyson beats estimates despite weak beef demand
"We were pleased with the rate of improvement in our Chicken business.
"We still think we have the potential for earnings per share of $2 for the year if we execute as planned," Tyson Chief Executive Officer Donnie Smith said in a statement on Monday. More...

May-07 -- BroadSoft Shrs Crushed As Q2 Guidance Misses Street Estimates
BroadSoft's definition of "non-GAAP net income," "non-GAAP net income per share," "non-GAAP gross margin," "non-GAAP income from operations" and other non-GAAP financial measures may differ from similarly titled non-GAAP measures used by other companies and may differ from period to period.
Shares of telecom software maker BroadSoft ( BSFT ) fell sharply in pre-market trading Monday after the company reported Q1 results ahead of views but gave revised guidance that lagged forecasts. More...

May-07 -- German Manufacturing Orders Surge Outside Euro Zone
German factory orders rose more than economists forecast in March as demand from outside the euro area helped Europe 's largest economy weather the debt crisis.
One potential area is using the bailout fund to help the continent's beleaguered banks. More...

May-07 -- Chirpy Angry Birds maker eyes IPO golden egg
Rovio has just announced its calendar 2011 financial results, and according to Reuters, the studio is also preparing itself for an IPO. Yearly revenue totaled €75.4 million (around $106.3 million), generating €48 million ($67.6 million) in pre-tax profit.
The company's employee count grew from 28 to 224 staffers. More...

May-07 -- LIN TV Unit To Buy Certain New Vision Television Assets For $330 Mln
Following the New Vision Television transaction, LIN on a combined basis will operate or service 50 network affiliates in 23 markets, reaching 10.6% of U.S. television households.
Providence-based LIN Media, owner of WPRI-Channel 12, said on Monday it agreed to buy 13 network affiliates from New Vision Television in eight U.S. markets for $330.4 million and the assumption of $12 million of debt. More...

May-07 -- Sycamore Partners Ups Offer for Talbots to $215 Million
The company announced that it has entered into an exclusivity agreement with Sycamore Partners in connection with the non-binding proposal, which will terminate on May 15, 2012.
Talbots board of directors rejected the bid, saying it significantly undervalued the company, and instead decided to explore strategic options. More...

Monday

May-07 -- Euro tanks to three-month low after Greek vote upsets
TOKYO (Reuters) - Japan's Nikkei average shed 2.6 percent to hit a three-month low on Monday after elections in France and Greece raised concerns on whether struggling euro zone economies will continue to pursue austerity measures and as U.S. jobs data came in weaker than expected.
U.S. crude futures dropped more than $3 a barrel while Brent crude fell more than $2.50 after elections and U.S. jobs data. More...

May-07 -- Oil plunges to below $97 in Asia amid signs of weakening US demand, Europe ...
The benchmark contract fell 2.5 percent on Friday.
Besides European political uncertainties, weak U.S. economic data also weighed heavily on crude oil. More...

May-07 -- US to Sell More of AIG
NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) today announced that the U.S. Department of the Treasury has priced an offering of 163,934,426 shares of its AIG common stock at the public offering price of $30.50 per share.
No assurance can be given that the offering or purchase will be completed. More...

May-07 -- DigitalGlobe Rejects GeoEye Takeover Bid
The offer involves $8.50 per share in cash and $8.50 in GeoEye stock, or 0.3537 shares of GeoEye stock for each share of DigitalGlobe stock.
The director of the Central Intelligence Agency, George Tenet, issues a directive requiring the U.S. intelligence community to rely on commercial satellite imagery to the greatest extent possible. More...

May-07 -- I-215 project months ahead of schedule
Commuters on Interstate 215 in San Bernardino got some early relief Saturday morning with part of the route reopening as constructions crews made progress on the widening project.
Construction crews closed the northbound 215 lanes from the Fifth Street bridge to the 259 Freeway, the connector to the eastbound 210 Freeway, at 11 p.m. Friday, while the southbound lanes remained open. More...

May-07 -- Classic U.S. snacks getting international makeovers
The company, based in Battle Creek, Michigan, already sells products in more than 180 countries.
The green tea version sold well, and a year later, Kraft rolled out Oreos in flavours that are popular in Asians desserts raspberry-and-blueberry and mango-and-orange. More...

May-07 -- Help Letter Carriers Stamp Out Hunger on May 12
The Postal Service, the National Association of Letter Carriers, Campbell Soup Co., Feeding America and other partner organizations are working together to collect food donations on May 12.
Since the letter carriers are doing all the legwork, it makes it very convenient for people to help. More...

May-07 -- Business Journal wins 14 Calif. Newspaper Publishers Association awards
SAN JOSE -- The Sentinel was recognized today with four awards, including two first-place prizes, in the statewide 2011 California Newspaper Publishers Association Better Newspapers Contest.
Cynthia Schur, publisher of the Santa Maria Times and other Lee Central Coast Newspapers since 2003, has been installed as president of the California Newspaper Publishers Association (CNPA), the state's largest newspaper trade organization. More...

May-07 -- Metro-North signal problem causes commuter headaches
Metro-North is reporting scattered delays on the New Haven Line after service to Grand Central Terminal was suspended this morning due to signal problems.
"I came all the way from Virginia only to find out I couldn't take a cab from where the greyhound station dropped me off. More...

May-07 -- AAA: Midlands Bridges Among State's Worst
CHARLESTON, S.C. (WCSC/AP) - An interstate bridge in Richland County again tops AAA Carolinas' list of substandard bridges in South Carolina, while Charleston County has 6 of the 20 bridges on the list.
Four upstate bridges rank among the worst in the state, according to a study conducted by AAA of the Carolina's. More...

May-07 -- Tax relief on tap for New York breweries
In 1980, Ken Grossman founded the Sierra Nevada Brewing Co. and over the years turned it into one of the first and most successful craft breweries ever built.
You need to choose what kind of bottle to use. More...

May-07 -- Report claims wind power benefits
Looking at 18 case studies of wind farms of different sizes drawn from across the UK, the study analyses the contribution of wind farm development, construction, operation and maintenance to the economy at a local, regional and national level.
Mr Upson said the wind industry worldwide had grown by more than 25per cent each year for the past 15 years. More...

May-07 -- Report: Law on credit-reporting fails consumers
Credit cards that had been paid off and closed years earlier showed as delinquent.
Send by mail all documents and supporting evidence to each of the credit-reporting agencies reporting inaccurate information and keep a copy for your records: Equifax, P.O. Box 740241, Atlanta, GA 30374-0241; Experian, P.O. Box 2104, Allen, TX 75013-0949; and TransUnion, P.O. Box 1000, Chester, PA 19022. More...

May-07 -- State Wineries Can Now Ship
Wineries that have direct shipping licenses in other states can also ship up to 12 cases out of state each year.
Build 9: 0 ms (Content).Completed macro ody_bottom_caro_seven.Parsing macro ody_bottom_caro_eight.Completed macro ody_bottom_caro_eight.Build 9: 140 ms (Content).Build 9: 0 ms (Content).Completed macro ody_conveyor.Parsing macro ody_footer.Parsing macro ody_analytics. More...

May-07 -- Japan Nuclear Power Free After Shutdown of Last Reactor
TOKYO -- The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
As technicians closed down the No. 3 unit at Tomari in Hokkaido at 11:03 pm local time, the debate over whether Japan needs nuclear power has been reignited, amid increasingly shrill warnings of potential power blackouts during the northern summer. More...

May-07 -- Breaking News: ULA Union Will Not Strike
The new contract covers ULA union members employed in Decatur, Alabama, Cape Canaveral Air Station in Florida and Vandenberg Air Force Base in California.
Carr said the workers keep the plant running. More...

May-07 -- Barclays Plans Online U.S. Bank: Reports
British bank Barclays is moving into the U.S. retail banking market for the first time in decades with the launch of an online savings account, the Financial Times reported.
It will be the London-based bank's first foray into U.S. retail banking in decades, the FT added. More...

May-07 -- Comcast's NBCUniversal Exercises Option To Unload Bulk Of Stake In A&E
Joint venture partners Walt Disney and Hearst will acquire the holding, which analysts have valued at around $2 billion.
Disney's cable networks, including ESPN and Disney Channel, contributed 46 percent of the company's revenue and 70 percent of profit in fiscal 2011. More...

May-07 -- NRC Skimps on Financial Oversight, Audit Says
Nuclear Regulatory Commission staff will conduct a public meeting and open house on Thursday, May 17, regarding the agency's annual assessment of safety performance for the Indian Point nuclear power plant.
Entergy Nuclear Operations, Inc., owns and operates Indian Point , which is the site of two operating pressurized-water reactors and is located in Buchanan (Westchester County), N.Y. More...

May-07 -- WGFD offers training
A law requiring boaters in Minnesota to affix decals outlining the state's aquatic invasive species laws on their boats and trailers will be rescinded July 1, but a new regulation that mandates the completion of an online course aimed at preventing the spread of invasive species goes into effect in July 2015.
In the meantime, Smith said, conservation officers won't be issuing citations to boaters who don't have the boat and trailer decal that's required until July 1. More...

Sunday (Update 2)

May-07 -- Spirit Airline takes heat but keeps growing
Until that time, Spirit will continue to charge $45.
LOS ANGELES (KABC) -- Storing a bag in an overhead bin may soon cost Spirit Airlines fliers more than they bargained for. More...

May-07 -- Yahoo, Alibaba Working on New, Taxable Deal
Reports in early February indicated the 2 sides were restarting discussions for the buy-out with more realistic expectations, after a previous round of talks faltered and stalled out late last year.
Meanwhile, the Alibaba talks are a sideshow. More...

May-07 -- Nuclear-free Japan braces for severe power shortages
The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
Japan's cabinet said last year that the country needed a new nuclear safety agency that is "trusted domestically and internationally," and Prime Minister Yoshihiko Noda had hoped to have the new agency in place by April 1. More...

May-07 -- DigitalGlobe Rejects Unsolicited Purchase Proposal by GeoEye
Longmont-based DigitalGlobe is mulling a buyout offer from its chief U.S. rival in the satellite imagery business, Virginia-based GeoEye.
More...

May-07 -- Oil Falls Below $100 For First Time Since February
NEW YORK (AP) -- Oil prices have dropped to below $100 per barrel following a disappointing U.S. jobs report and warnings of a weakening world economy.
Oil fell by more than four percent after a weak jobs report added to recent signs that the global economy is weakening, meaning demand for oil should slacken. More...

May-07 -- Yen Gains Versus Peers as Jobs, Elections Fuel Concern
The euro weakened for a fifth day against the dollar after a European report showed the region's manufacturing and services industries shrank in April more than economists predicted.
The dollar has traded in a range of $1.30 to $1.35 per euro since the start of February. More...

May-07 -- Familiar echoes in shale gas boom
Click here to read an account from the Guardian, describing how Chesapeake's shady dealings have now drawn the curiosity of the Securities and Exchange Commission.
McClendon also ran a private hedge fund within Chesapeake that traded energy and other commodities independently of the company's risk managers for several years during the last decade. More...

May-07 -- Fracturing rule offers a concession
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
The proposal lets gas producers exclude trade secrets and confidential information, Interior Secretary Ken Salazar said today on a conference call. More...

May-07 -- Woman sues Southwest after told she's 'too fat to fly'
An airline in the U.S. is being sued after employees told a passenger that she was too fat to fly.
'The best case scenario is for the customer to notify us of any special needs ahead of time,' said Brandy King. More...

May-07 -- TransCanada files new application for permit to build Keystone XL pipeline ...
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Under Executive Order 13337, it is the Department's responsibility to determine if granting a permit for the proposed pipeline is in the national interest. More...

May-07 -- Rosneft agrees Arctic deal with Statoil
Norway's Statoil ASA (STO, STL.OS) signed on Saturday a cooperation agreement with Rosneft to develop Russia's Arctic offshore fields, joining two other global majors, Exxon Mobil Corp. (XOM) and Italy's Eni SpA (E, ENI.MI), which signed similar deals in April.
The Norwegian oil giant will finance all geological prospecting of the Perseyevsky deposit in the Barents Sea in Russia's north and the Lisyansky, Kashevarovsky and Magadan-1 fields in the Sea of Okhotsk in the Russian Far East. More...

May-07 -- Mansfield Food Pantry Preparing for Stamp Out Hunger Day
The Postal Service, the National Association of Letter Carriers, Campbell Soup Co., Feeding America and other partner organizations are working together to collect food donations on May 12.
"Previous Stamp Out Hunger food drives have brought in 5,000 to 6,000 pounds of food to the pantry," said pantry volunteer Maria Smith. More...

May-07 -- Pension Plan Sues Wal-Mart Officials Over Failures
NEW YORK (AP) One of the nation's largest public pension funds has filed a lawsuit against current and former Wal-Mart executives and board members, saying they had breached their responsibility in handling an alleged bribery scheme.
The pension group owns 5.6 million shares of Wal-Mart, which has more than 3.4 billion shares outstanding. More...

May-07 -- Comcast to Sell Part of Stake in A&E
Three years after NBCUniversal's stake in A&E Television Networks was diluted following the addition of Lifetime, NBCUniversal is cashing out to the tune of several billion dollars.
The Journal cited an analyst who valued NBCUniversal's stake at around $2 billion. More...

May-07 -- UBS loses bid to dismiss FHFA mortgage debt case
The total decreased from $3.4 billion in the first quarter of last year.
Freddie Mac has reported net income for the first quarter of 2012 of $577 million and comprehensive income of $1.79 billion. More...

May-07 -- Share via e-mail
Treasury still owns about 70 percent of AIG's common stock.
AIG said pretax profit at the U.S. life insurance and retirement-services division fell to $862 million from $967 million a year earlier. More...

May-07 -- NRC Skimps on Financial Oversight, Audit Says
Nuclear Regulatory Commission staff will conduct a public meeting and open house on Thursday, May 17, regarding the agency's annual assessment of safety performance for the Indian Point nuclear power plant.
Entergy Nuclear Operations, Inc., owns and operates Indian Point , which is the site of two operating pressurized-water reactors and is located in Buchanan (Westchester County), N.Y. More...

May-07 -- Argentina Congress Backs Takeover of YPF From Repsol
BUENOS AIRES May 3 (Reuters) - The nationalization of Argentina's biggest oil company is expected to sail to final congressional approval on Thursday, reflecting broad domestic support for a measure that has rattled foreign investors.
Some observers have warned that the nationalisation may have negative consequences for foreign investment in Argentina, but Ms Fernandez insists the move is necessary to reduce the states energy bill. More...

May-07 -- Is It Really the 'Thought That Counts'?
MUNCIE, IN - Mothers across America are looking forward to Mother's Day 2012 - the date of which is May 13, 2012.
I am blessed beyond measure in having my Mom. More...

Sunday (Update 1)

May-06 -- Hitting Argentina for Oil Seizure Can Hurt US Interests
BUENOS AIRES May 3 (Reuters) - The nationalization of Argentina's biggest oil company is expected to sail to final congressional approval on Thursday, reflecting broad domestic support for a measure that has rattled foreign investors.
Fernandez made the announcement after signing into law a bill to take over a majority stake in YPF from Spain's Repsol. More...

May-06 -- Two-Notch Debt Downgrade For Citi Could Require $4.7B In Extra Collateral
A two-level downgrade of long-term senior debt ratings ( BAC ) would have prompted the bank to post about $5.1 billion of collateral tied to derivatives contracts and other trading agreements as of March 31, the Charlotte, North Carolina-based firm said yesterday in a regulatory filing.
More...

May-06 -- California, U.S. to bank millions in taxes on Facebook IPO
Facebook founder Mark Zuckerberg plans to sell stock worth around $1 billion in Facebook's IPO. NEW YORK (CNNMoney) -- It's the day techies and investors have been waiting for: Facebook set a price range of $28 to $35 per share for its initial public offering.
Just a sampling for you: In the U.S.and Canada, Facebook earns $9.51 per user. More...

May-06 -- Yahoo, Alibaba Working on New, Taxable Deal
Reports in early February indicated the 2 sides were restarting discussions for the buy-out with more realistic expectations, after a previous round of talks faltered and stalled out late last year.
Meanwhile, the Alibaba talks are a sideshow. More...

May-06 -- Nuclear-free Japan braces for severe power shortages
The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
Before the Fukushima accident, Japan operated 54 commercial reactors , which accounted for about one-third of the country's energy supply. More...

May-06 -- Putting Our Slow Jobs Recovery Into Perspective
In 2011, roughly 2.7 million people left the job market, and only 945,000 came into it.
The labor force shrank by 164,000 in March. More...

May-06 -- Rosneft and Statoil in Arctic exploration deal
MOSCOW, May 5 (Reuters) - Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion tonnes of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company.
Putin last month vowed to win $500 billion in investment for offshore field development over 30 years through new tax and duty incentives that would also grant Arctic access to Russia's private players. More...

May-06 -- Next up to take on Europe's debt crisis: Democracy
The euro weakened for a fifth day against the dollar after a European report showed the region's manufacturing and services industries shrank in April more than economists predicted.
Voting in France and Greece is likely to provide a litmus test of popular tolerance for further austerity, a day after the European Central Bank ended near-term hopes of more policy easing to boost the ailing economy. More...

May-06 -- Carry-ons to cost as much as $100 on Spirit Airlines
Until that time, Spirit will continue to charge $45.
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May-06 -- Fracturing rule offers a concession
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
The move is part of a broader administration effort to increase rules for the controversial practice. More...

May-06 -- TransCanada files new application for permit to build Keystone XL pipeline ...
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Anthony Swift of the Natural Resources Defense Council called Friday for a thorough review of the new application that examines the proposed pipeline as well as the merits of tar sands oil development. More...

May-06 -- LinkedIn raises outlook, beats on profit
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
Eight Wall Street analysts expected LinkedIn to generate revenues of $178.58 million for the quarter. More...

May-06 -- • Stamp Out Hunger to collect food May 12
Stamp Out Hunger is the world's largest single-day food drive, collecting more than 70 million pounds of food across the U.S. The National Association of Letter Carriers partners with food banks and pantries on a local level to collect bags of food donated on the doorsteps of carriers' normal routes.
Build 9: 890 ms (Content).Completed macro ody_bottom_caro_seven.Parsing macro ody_bottom_caro_eight.Completed macro ody_bottom_caro_eight.Build 9: 1062 ms (Content).Build 9: 16 ms (Content).Build 16: 0 ms (NewsList).Completed macro ody_conveyor.Parsing macro ody_inteltxtwrapper.Build 9: 0 ms (Content).Completed macro ody_inteltxtwrapper.Parsing macro ody_footer.Parsing macro ody_analytics. More...

May-06 -- Rate on 30-year mortgage hits record 3.84 percent
Last year, a 15-year fixed rate averaged 3.89 percent.
Just before reaching fresh multi-month lows, Mortgages Rates rose slightly today after a stronger than expected read on the manufacturing sector. More...

May-06 -- FCC rejects Liberty Media bid for Sirius XM control
May 5 (Reuters) - A federal regulator dismissed John Malone's Liberty Media Corp's application to take control of Sirius XM Radio Inc with its current stake of 40 percent.
"We ended the first quarter with $747 million of cash, after the repurchase of approximately $57 million in aggregate principal amount of our debt during the first quarter. More...

May-06 -- Brazil expects rates below 8 pct by year's end-paper
The rate currently stands at 9 percent annually.
A stampede to savings accounts would likely to raise the government's financing costs. More...

May-06 -- Pension Plan Sues Wal-Mart Officials Over Failures
NEW YORK (AP) One of the nation's largest public pension funds has filed a lawsuit against current and former Wal-Mart executives and board members, saying they had breached their responsibility in handling an alleged bribery scheme.
The suit also alleges that some senior Wal-Mart executives sold shares of company stock before the New York Times story was published April 21. More...

May-06 -- UBS loses bid to dismiss FHFA mortgage debt case
The total decreased from $3.4 billion in the first quarter of last year.
Freddie Mac has reported net income for the first quarter of 2012 of $577 million and comprehensive income of $1.79 billion. More...

May-06 -- Oil drops below $100 for first time since February
NEW YORK (AP) -- Oil prices have dropped to below $100 per barrel following a disappointing U.S. jobs report and warnings of a weakening world economy.
Oil closed down $4 at $98.54 in New York trading today. More...

Sunday

May-06 -- Hitting Argentina for Oil Seizure Can Hurt US Interests
BUENOS AIRES May 3 (Reuters) - The nationalization of Argentina's biggest oil company is expected to sail to final congressional approval on Thursday, reflecting broad domestic support for a measure that has rattled foreign investors.
There is word of more capital destruction in South America. More...

May-06 -- Two-Notch Debt Downgrade For Citi Could Require $4.7B In Extra Collateral
A two-level downgrade of long-term senior debt ratings ( BAC ) would have prompted the bank to post about $5.1 billion of collateral tied to derivatives contracts and other trading agreements as of March 31, the Charlotte, North Carolina-based firm said yesterday in a regulatory filing.
More...

May-06 -- Yahoo, Alibaba Working on New, Taxable Deal
Reports in early February indicated the 2 sides were restarting discussions for the buy-out with more realistic expectations, after a previous round of talks faltered and stalled out late last year.
The two companies have been in talks for a month, the person said, but cautioned that there is no guarantee a deal will be reached. More...

May-06 -- Japan Nuclear Power-Free as Sole Reactor Shuts
The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
With the four reactors at Fukushima crippled by the natural disaster public suspicion of nuclear power grew, so much so that no reactor shut for routine safety checks has since been allowed to restart. More...

May-06 -- Statoil, Rosneft To Jointly Explore Offshore Frontier Areas Of Russia, Norway
MOSCOW, May 5 (Reuters) - Norway's Statoil will drill in Russian Arctic waters thought to contain 2 billion tonnes of oil in partnership with Rosneft, marking the third deal of its kind for the Russian state company.
Statoil will receive 33.3 percent in a joint exploration venture and finance geological work. More...

May-06 -- Next up to take on Europe's debt crisis: Democracy
The euro weakened for a fifth day against the dollar after a European report showed the region's manufacturing and services industries shrank in April more than economists predicted.
The jobless rate fell to 8.1 percent, from 8.2 percent. More...

May-06 -- Los Angeles Times named California's Newspaper of the Year for 2011
A sister paper of the Tribune, the San Jose Mercury News, was named the best large newspaper in the state.
The San Jose Mercury News wins first place among large papers for general excellence. More...

May-06 -- Steve Coll on Exxon Mobil's oil empire
Perhaps you recall Milo Minderbinder, the ambitious World War II mess hall officer from Catch-22.
COLL: Yeah, I think that's right. More...

May-06 -- Pension Plan Sues Wal-Mart Officials Over Failures
NEW YORK (AP) One of the nation's largest public pension funds has filed a lawsuit against current and former Wal-Mart executives and board members, saying they had breached their responsibility in handling an alleged bribery scheme.
CalSTRS isnt collaborating with other shareholders, but other shareholders may take action as well. More...

May-06 -- Spirit bows to pressure: Airline CEO to refund dying veteran's fare
Until that time, Spirit will continue to charge $45.
"There just wasn't a way we could do that without essentially cheating all the other customers at the airline," Baldanza said. More...

May-06 -- Fracturing rule offers a concession
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
Oil-field workers drill into the Gypsum Hills near Medicine Lodge, Kan., using horizontal drilling and a technique known as hydraulic fracturing -- or fracking -- to coax out oil and gas. More...

May-06 -- Gloom builds for euro zone, United States
LONDON (AP) -- Stocks turned lower on Thursday after the European Central Bank indicated it would not, for now, take further steps to fight the debt crisis and U.S. economic data disappointed expectations.
The euro hit session highs at $1.3179 after falling to two-week lows at $1.3097. More...

May-06 -- Private survey shows US hiring slowed last month
The four-week average, a less volatile measure, ticked up to 383,500 last week, the highest level since December.
New claims for unemployment benefits tumbled more than expected in the latest week, raising hopes that the job market remains on the mend. More...

May-06 -- Jobs report won't move Fed, analysts say
In 2011, roughly 2.7 million people left the job market, and only 945,000 came into it.
U.S. unemployment has remained above the 8% mark since February 2009. More...

May-06 -- LinkedIn raises outlook, beats on profit
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
LinkedIn has just announced it plans to acquire San Francisco-based startup SlideShare for about $119 million. More...

May-06 -- Keystone pipeline controversy returns to dog Obama
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Obama rejected the pipeline after Nebraska state ( STONE1 ) officials and environmental groups objected to the route that crosses the Ogallala aquifer, a drinking-water source for 1.5 million people. More...

May-06 -- GM rakes in big profits, avoids US income tax
GM reported operating earnings of $1.7 billion in its North American auto unit when excluding special items, up from $1.3 billion on that basis in the first quarter of last year.
Overall, GM reported a $1 billion profit in the first quarter of 2012 , down $2.2 billion before taxes from a year ago. More...

May-06 -- Woman sues Southwest over large passengers policy
Kenlie Tiggeman, the overweight passenger who garnered national attention last May after she claimed a Southwest gate agent told her she was "too fat to fly," is now suing the airline.
The woman at the centre of a 'too fat to fly' controversy has announced that she is suing Southwest Airlines, which refused to allow her on a flight because of her size. More...

May-06 -- Oil drops below $100 for first time since February
Retailers appeared to be enjoying comfortable margins with gasoline selling for nearly $4 a gallon in most places.
Fri, May 04 03:19 PM Crude oil futures drop after release of disappointing U.S. jobs data : Underwhelming economic data about job growth in the U.S. pulled down the price of crude oil futures on Friday. . More...

Saturday (Update 2)

May-06 -- No escaping European risks
EUROPEAN stock markets fell sharply and the euro lost ground ahead of weekend elections in France and Greece.
Looking at market capitalization within the MSCI All Country World Index, the European Economic and Monetary Union (EMU) index, which covers stocks in the 11 major developed markets in Europe Union, now represents just 10 percent of the total, down from a peak in 1998 of about 17 percent. More...

May-06 -- Why a Partial Yahoo-Alibaba Sale Must - And I Underscore Must - Not Get Done ...
Reports in early February indicated the 2 sides were restarting discussions for the buy-out with more realistic expectations, after a previous round of talks faltered and stalled out late last year.
New reports suggest that China's e-commerce leader is near finalizing a $3 billion bank loan it will need to complete the buy-back. More...

May-06 -- Two-Notch Debt Downgrade For Citi Could Require $4.7B In Extra Collateral
A two-level downgrade of long-term senior debt ratings ( BAC ) would have prompted the bank to post about $5.1 billion of collateral tied to derivatives contracts and other trading agreements as of March 31, the Charlotte, North Carolina-based firm said yesterday in a regulatory filing.
More...

May-06 -- Thousands march as Japan shuts off nuclear power
The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
A vocal critic of Japan's business establishment for years, Son has publicly blasted Japan's regulators and utilities for working together to block new entrants and keep the power rates consumers pay high. More...

May-06 -- Yahoo: Pay no attention to that man behind the curtain
Yahoo Inc.investor Third Point, which is fighting for representation on the Internet company's board, criticized Chief Executive Scott Thompson for inaccuracies in his educational record.
SAN FRANCISCO -- A disgruntled Yahoo shareholder questioned the qualifications and integrity of recently hired CEO Scott Thompson after exposing a misrepresentation about the executive's education. More...

May-06 -- Statoil to drill with Rosneft on Russian shelf
The agreement also offers Rosneft, Russia's largest oil producer, an opportunity to acquire stakes in Statoil projects in the North Sea and in the Norwegian sector of the Barents Sea.
Statoil is part of an international consortium, together with Total SA (TOT, FP.FR) and Gazprom (OGZPY, GAZP.RS), to develop the Shtokman liquefied natural gas project off the Russian Arctic Circle, but the project has suffered a number of delays on the investment decision. More...

May-06 -- Share via e-mail
Treasury still owns about 70 percent of AIG's common stock.
AIG said pretax profit at the U.S. life insurance and retirement-services division fell to $862 million from $967 million a year earlier. More...

May-06 -- Spirit Airlines caves, agrees to refund dying veteran's ticket
In the Philadelphia region, Spirit operates out of Atlantic City International Airport, the only scheduled carrier now flying from that airport.
In 2010, 20 airlines collected $3.4 billion in bag fees and $2.3 billion in rebooking fees. More...

May-06 -- Hacking homelessness: San Franciscans hope startup approach can ease ...
Post Forum members consistently offer thought-provoking, timely comments on politics, national and international affairs.
Optimism reigns in San Francisco, especially when it comes to the promise of technology to improve people's lives. More...

May-06 -- House reaches agreement on Export-Import Bank
According to The Hill , it looks like the House will take up a Export-Import bank reauthorization, including a massive $40 billion increase in loan authority, as early as next week.
In late April, 30 House Republicans wrote Cantor and House Speaker John Boehner that "as conservatives, we believe it is imperative that Congress move forward with a multiyear reauthorization of Ex-Im that provides certainty and stability for U.S. manufacturers and exporters as soon as possible." More...

May-06 -- FCC rejects Liberty Media bid for Sirius XM control
May 5 (Reuters) - A federal regulator dismissed John Malone's Liberty Media Corp's application to take control of Sirius XM Radio Inc with its current stake of 40 percent.
Sirius strenuously protested with the FCC, and Karmazin in a recent call with investors mocked Liberty's argument as "40 is the new 50." More...

May-06 -- Pension Plan Sues Wal-Mart Officials Over Failures
NEW YORK (AP) One of the nation's largest public pension funds has filed a lawsuit against current and former Wal-Mart executives and board members, saying they had breached their responsibility in handling an alleged bribery scheme.
The Times reported that top Wal-Mart officials in the U.S. learned of the bribery allegations in 2005 but didn't then alert U.S. or Mexican authorities. More...

May-06 -- Fracturing rule offers a concession
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
Fridays draft rule affects drilling operations on the 700 million acres of public land administered by the Interior Departments Bureau of Land Management as well as 56 million acres of Indian lands. More...

May-06 -- Florida's Security Bank, National Assn. fails
The deal gives Banesco branches in North Lauderdale, Doral and on Coral Way in Miami.
You can withdraw some or all of your funds from your deposit accounts without penalty until you enter into a new agreement with Banesco USA, provided that you are not using your deposits to secure a loan. More...

May-06 -- Dollar drops on jobs data, euro sinks before elections
The euro was steady in European hours Friday as currency traders absorbed more evidence of a European economic slowdown but held off from betting aggressively ahead of U.S. jobs data, elections in France and Greece, and an extended weekend in London.
From Ireland to the Czech Republic, people are balking at the German-led approach, which recently prompted the European Community to adopt a new "growth" pact that was actually a reaffirmation of austerity. More...

May-06 -- Oil drops below $100 for first time since February
Retailers appeared to be enjoying comfortable margins with gasoline selling for nearly $4 a gallon in most places.
Fri, May 04 03:19 PM Crude oil futures drop after release of disappointing U.S. jobs data : Underwhelming economic data about job growth in the U.S. pulled down the price of crude oil futures on Friday. . More...

May-06 -- ECB-Loan Profits, Carry Trades, Basel Boundaries: Compliance
LONDON (AP) -- Stocks turned lower on Thursday after the European Central Bank indicated it would not, for now, take further steps to fight the debt crisis and U.S. economic data disappointed expectations.
"I certainly agree with your question when you say we have to put growth back at the centre of the agenda, without any contradiction with the need to continue, persevere in fiscal consolidation," he said. More...

May-06 -- Brazil expects rates below 8 pct by year's end-paper
The rate currently stands at 9 percent annually.
The Selic is currently 9 percent. More...

Saturday (Update 1)

May-05 -- Yahoo Board to Review CEO Credentials After Criticism
Yahoo! Inc. ( YHOO ) remains under pressure from Daniel Loeb, manager of hedge fund Third Point, to fire newly-hired CEO Scott Thompson , after his résumé included the false claim that Thompson holds a Bachelor's degree in computer science from Stonehill College, when in fact Thompson's degree is in accounting an assertion that was filed with the U.S. Securities and Exchange Commission on April 27, 2012, as well repeated on the Yahoo's website.
Anuj Nayar, a spokesman for PayPal, said that in recent EBay filings, Thompson's degree was listed correctly. More...

May-05 -- Berkshire Shareholders Await Buffett, Speculate on Succession Plans
Since last fall, President Barack Obama has made many references to the "Buffett rule," the president's proposal of a minimum income tax on people who make $1 million or more a year.
Combs and Weschler manage portfolios worth about $2 billion while Buffett continues to make most of Berkshire's investment decisions. More...

May-05 -- Stock market reels on news of hiring slowdown
Dow Jones industrial average futures gained 2 points, and Nasdaq 100 futures rose 1 point.
NEW YORK May 3 (Reuters) - U.S. stocks fell on Thursday, with the Nasdaq down 1 percent, as economic data painted a mixed picture of a recovery a day before the critical April payrolls report. More...

May-05 -- Thousands march as Japan shuts off nuclear power
JAPAN'S CRISIS: The nuclear disaster at the Fukushima plant is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
The two Ohi reactors are the first to be considered for reactivation by the central government, but it faces an uphill battle of winning public support. More...

May-05 -- Mike Mayo Smacks JPMorgan With A Big Downgrade
PARIS -- Technicolor, which emerged from bankruptcy protection two years ago, has found its white knight: U.S. investment firm JPMorgan Chase & Co. will inject up to E158 million ($195.4 million) for a 29.96% equity share in Technicolor.
Technicolor plans initially to issue 72.28 million shares at 1.60 euros a share in a reserved capital increase for JPMorgan. More...

May-05 -- New Proposal on Fracking Gives Ground to Industry
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
"Proven leadership and effective regulation at the state level cause me to question the need and purpose of federal regulation, especially when it is less effective and in many respects duplicative," Mead said in a media release. More...

May-05 -- More Keystone Pressure
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Girling said the new application builds on more than three years of environmental review already conducted for Keystone XL and satisfies President Obama's call to speed infrastructure development through more efficient and effective permitting and review." More...

May-05 -- Spirit CEO issues refund, apology to dying veteran
In the Philadelphia region, Spirit operates out of Atlantic City International Airport, the only scheduled carrier now flying from that airport.
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May-05 -- Yen Gains Versus Peers as Jobs, Elections Fuel Concern
LONDON (Dow Jones)--The euro was steady in European hours Friday as currency traders absorbed more evidence of a European economic slowdown but held off from betting aggressively ahead of U.S. jobs data, elections in France and Greece, and an extended weekend in London.
A combination of poor global economic data and a higher than expected U.S. Crude Oil Inventories figure caused the price of oil to fall during yesterdays trading session. More...

May-05 -- California pension fund sues Wal-Mart leaders
We are reviewing the lawsuit closely and are thoroughly investigating the issues that have been raised."
"The Times' examination found credible evidence that bribery played a persistent and significant role in Wal-Mart's rapid growth in Mexico, where Wal-Mart now employs 209,000 people, making it the country's largest private employer," Barstow said. More...

May-05 -- Share via e-mail
Treasury still owns about 70 percent of AIG's common stock.
AIG said pretax profit at the U.S. life insurance and retirement-services division fell to $862 million from $967 million a year earlier. More...

May-05 -- Give the Gift of Nothing to Mom for Mother's Day
MUNCIE, IN - Mothers across America are looking forward to Mother's Day 2012 - the date of which is May 13, 2012.
Even if your mom works out every day and looks like a Greek goddess, do not give her new workout gear. More...

May-05 -- GeoEye offers to buy DigitalGlobe for $792 mln
Published May 4, 2012 at 12:15 PM Private equity-backed GeoEye Inc. went public Friday with a $792 million cash and stock offer for rival DigitalGlobe Inc. A merger would create the world's largest commercial fleet of imaging satellites.
"The government, for the most part, doesn't like sole-source contracts," Cody said, adding that having only one company, rather than two, could drive prices up. More...

May-05 -- LinkedIn Corp. Cl A (LNKD)
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
LinkedIn also took the time to announce a deal to buy professional content-sharing site SlideShare for $118.75 million in cash and stock. More...

May-05 -- Argentina nationalizes oil company YPF
BUENOS AIRES May 3 (Reuters) - The nationalization of Argentina's biggest oil company is expected to sail to final congressional approval on Thursday, reflecting broad domestic support for a measure that has rattled foreign investors.
Repsol's shares have tumbled 22 percent to 13.6 euros since Fernandez announced the takeover plan on April 16, while YPF's American depositary receipts ( YPF ) fell 25 percent to $14.60 as of 11:46 a.m. New York time. More...

May-05 -- Recalls this week include candle holders with high flames and faulty lawn mowers
U.S. Consumer Product Safety Commission/Associated Press - This product image provided by the U.S. Consumer Product Safety Commission on May 2, 2012, shows a recalled Exmark Quest 42" ZRT Riding Mower.
Post Forum members consistently offer thought-provoking, timely comments on politics, national and international affairs. More...

May-05 -- Shares of surf-and-skate retailer Tilly's jump in trading debut
The Irvine, Calif. -based company's stock jumped $2.30, or 14.8 percent, to $17.80 in morning trading after opening at $18.80 and briefly rising as high as $19.29 per share.
The Irvine, California-based company had planned to price shares between $11.50 and $13.50. More...

May-05 -- Tilly's Climbs 8.5%; PetroLogistics Slips 2.9%
PetroLogistics LP, a Houston-based producer of propylene, has filed an amendment to its initial public offering to reduce the price range .
Propylene Holdings LLC, a unitholder in PetroLogistics, sold 33.5 million units in the offering, while the Houston-based company sold the rest. More...

Saturday

May-05 -- Berkshire Hathaway profit doubles to $3.25 billion
Earnings a year ago were reduced by about $1.1 billion in insurance losses from catastrophes in Japan, New Zealand and Australia.
The CEO won't have Buffett's reputation and connections, either. More...

May-05 -- Shareholder seeks ouster of Yahoo CEO over bio
Yahoo Inc.investor Third Point, which is fighting for representation on the Internet company's board, criticized Chief Executive Scott Thompson for inaccuracies in his educational record.
If the accusations are true, Loeb wrote, then it casts serious doubt on Thompson's personal and professional reputation. More...

May-05 -- US Stocks Fall as S&P 500 Has Worst Weekly Drop in 2012
U.S. stock market futures fell Wednesday after disappointing data on Europe's economy and a report showing slowing job growth at home.
In the oil sector, Chevron Corp dropped 2.1 percent to $103.72 while Exxon Mobil Corp slipped 1.3 percent to $84.57. More...

May-05 -- Solar-powered catamaran goes around the world in 584 days
The first solar powered vessel to travel all the way around the world has crossed the finish line - circumnavigating the globe in a journey that has taken since September 2010.
The MS Turanor PlanetSolar vessel pulled into Monte Carlo, Monaco, at 2:12 p.m. local time today after a 60,006-kilometer (37,294-mile) journey taking in 28 countries over 585 days, PlanetSolar said in an e-mail. More...

May-05 -- New Proposal on Fracking Gives Ground to Industry
The proposed rules require companies, once drilling is complete, to disclose the chemicals used during hydraulic fracturing, or fracking.
To start on a positive note, the rule does propose to improve standards for gas well construction and to establish requirements for managing wastewater disposal. More...

May-05 -- New Keystone Bid Gives GOP Political 'Ammunition'
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Republicans pounced on the news, urging the president to cut off the State Department review. More...

May-05 -- Spirit CEO decides to refund dying vet's airfare
Until that time, Spirit will continue to charge $45.
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May-05 -- Argentina names ex-Schlumberger exec to lead YPF
BUENOS AIRES, Argentina (AP) -- Argentina officially recovered its leading energy company from private control on Friday as President Cristina Fernandez signed her expropriation measure into law and named a youthful Argentine as its chief executive.
Analysts will also look for signs of how the government plans to manage YPF. Leading daily La Nacion on Thursday named an oil industry executive as a possible contender for the chief executive's job. More...

May-05 -- Treasury announces 3rd round of sales of insurance giant AIG common stock
Treasury still owns about 70 percent of AIG's common stock.
AIG said pretax profit at the U.S. life insurance and retirement-services division fell to $862 million from $967 million a year earlier. More...

May-05 -- BNP Paribas To Finish Restructuring In Coming Months
Paris (dpa) - Net profits at France's biggest bank BNP Paribas grew 9.6 per cent in the first quarter of 2012, boosted by capital gains on asset disposals, the bank said Friday.
BNP reported net income of 2.87 billion euros ($3.77 billion) for the first three months of 2012, a rise of 9.6 percent from the same time last year and higher than Reuters forecasts for 2.3 billion euros. More...

May-05 -- Dollar Posts First Five Day Rally In 8 Months, Trend Setting In?
The euro was steady in European hours Friday as currency traders absorbed more evidence of a European economic slowdown but held off from betting aggressively ahead of U.S. jobs data, elections in France and Greece, and an extended weekend in London.
LONDON (Reuters) - The euro will hold its value against the dollar over the next 12 months despite the parlous economic state of many European economies, according to a Reuters poll that showed weakening forces acting against both currencies. More...

May-05 -- Congress fights over future of export bank
According to The Hill , it looks like the House will take up a Export-Import bank reauthorization, including a massive $40 billion increase in loan authority, as early as next week.
“Getting things done in Washington, D.C., is about compromise, and I am pleased that all parties were able to come together to agree to this reasonable settlement. More...

May-05 -- Ex-chair of top HK developer arrested
HONG KONG Hong Kong-listed Sun Hung Kai Properties Ltd.(0016.HK), said Friday that Walter Kwok, former chairman and the eldest son of the company's founding family, was arrested by the city's antigraft agency in connection with a bribery probe.
Nancy Chen, Sun Hung Kai's Hong Kong-based head of investor relations, declined to comment on the sale when contacted by phone today. More...

May-05 -- Shares of surf-and-skate retailer Tilly's jump in trading debut
West Coast-inspired clothing retailer Tilly's Inc. (TLYS) on Friday became the first U.S. initial public offering in nearly two weeks to price above range and perform well on its first day of trading.
Tilly's ( TLYS ) priced 8 mil shares at 15.50 each, well above the expected 11.50-13.50 range. More...

May-05 -- Westlake Pulls Acquisition Offer for Georgia Gulf
Shares of Georgia Gulf fell 9 percent to $31.30 in post-market trade on Friday.
Westlake Chief Executive Officer Albert Chao, whose family controls about 69 percent of the company, had offered $35 a share on Feb. 1, $5 more than the initial bid disclosed Jan. 13. More...

May-05 -- LinkedIn Corp. Cl A (LNKD)
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
Online professional networking site LinkedIn ( LNKD ) late Thursday reported first-quarter results that flew past analyst estimates, as it continues to add about 5 million new members per month. More...

May-05 -- FDIC closes small bank in Florida
The deal gives Banesco branches in North Lauderdale, Doral and on Coral Way in Miami.
In 2010, 157 banks with $92.1 billion in total assets failed while 92 institutions with $34.9 billion in total assets were closed in 2011. More...

May-05 -- Duke Energy Corp. net drops 42% on cost overruns
Progress decided to manage the project itself instead of hiring one of two firms that successfully handled similar projects at other plants around the country.
The Edwardsport charges cut earnings per share by 20 cents, the company said. More...

Friday (Update 2)

May-05 -- Nasdaq On Pace For Year's Biggest Swoon After Jobs Data
Dow Jones industrial average futures gained 2 points, and Nasdaq 100 futures rose 1 point.
In the bond market, treasuries showed a strong upward move on the heels of the disappointing jobs report. More...

May-05 -- Yahoo CEO faces calls for ouster after inaccuracy
Yahoo shares fell 27 cents to close at $15.40 on Thursday.
A firestorm has erupted at the online commerce company, forcing the board of trustees to order a review of its top executive's academic record after the revelation that Loeb actually holds only an accounting degree, according to published reports. More...

May-05 -- Keystone XL pipeline: Canadian firm seeks US permission, again
The new application includes proposed new routes through the state of Nebraska, the State Department said.
Girling said the new application builds on three previous years of work in designing a route for the pipeline. More...

May-05 -- US proposes new rules for fracking on federal lands
Environmentalists say the rules don't go far enough but an industry group says they may stifle job growth with "bureaucratic red tape."
Knowing after the fact is nice, but does not allow for any steps to be taken if the chemicals being used are of concern to the public. More...

May-05 -- Chicago to tackle backlog of vacant building complaints
In a deal that was widely criticized for selling taxpayers short, Chicago Parking Meters was given the right to keep all meter revenues until 2084.
The parking meter lease requires the city to compensate the concessionaire -- at the newly increased downtown rate of $5.75 an hour -- whenever metered spaces are temporarily taken out of service. More...

May-05 -- CalSTRS says Wal-Mart top leadership in question
We are reviewing the lawsuit closely and are thoroughly investigating the issues that have been raised."
The suit also alleges that some senior Wal-Mart executives sold shares of company stock before the New York Times story was published April 21. More...

May-05 -- FOREX WEEK AHEAD: Euro May Face Test Following Elections
Weak data, weekend elections keep euro vulnerable By Julie Haviv NEW YORK, May 4 (Reuters) - The dollar slid against the yen but rallied against currencies linked to global growth on Friday, as investors sought safety after U.S. jobs data provided further evidence the economic recovery was losing momentum.
NEW YORK -The dollar rose to a two-week high against the euro after the U.S. government reported that hiring slowed in April. More...

May-05 -- CREDIT MARKETS: US Job Data Disappointment Aids High-Grade Bonds
U.S. short-term interest rates futures were little changed after latest job data, implying nearly no change in traders' expectations in Fed policy.
NEW YORK(Dow Jones)--A downbeat April U.S. jobs report sparked a flight into Treasury bonds Friday, extending the benchmark 10-year note's strength into a seventh-straight week. More...

May-05 -- A Band of Contrarians, Bullish on Greece
LONDON -- Markets fell sharply Friday after U.S. jobs figures indicated a slowdown in the world's largest economy and as investors looked ahead to elections in France and Greece that might affect the way Europe deals with its debt crisis.
The United States may be the largest single economy in the world, but the economy of the European Union as a whole is larger. More...

May-05 -- Recalls this week: Candle holders, lawn mowers
No injuries have been reported.
Exmark said bearings that support the mower deck could fail and interfere with the operator's controls. More...

May-05 -- Propylene-maker PetroLogistics falls in debut
PetroLogistics LP, a Houston-based producer of propylene, has filed an amendment to its initial public offering to reduce the price range .
The company, which is majority-owned by private equity firm Lindsay Goldberg and investment firm York Capital, had filed with the U.S. Securities and Exchange Commission last June to raise up to $600 million in an IPO. More...

May-05 -- GeoEye offers to buy competitor DigitalGlobe for $792M
Published May 4, 2012 at 12:15 PM Private equity-backed GeoEye Inc. went public Friday with a $792 million cash and stock offer for rival DigitalGlobe Inc. A merger would create the world's largest commercial fleet of imaging satellites.
GeoEye's board is also willing to consider a different ratio of stock and cash, or even make an all-cash bid, to complete a purchase if necessary, the company said. More...

May-05 -- LinkedIn shares may see action after hours
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
LinkedIn Corp. will buy presentation-sharing company SlideShare Inc. for $118.8 million to augment LinkedIn's networking and sales-contact capabilities. More...

May-05 -- Spectra Energy Partners profit rises 7.2%
The Houston-based oil and gas pipelines company made $333 million in net income, or 51 cents earnings per share, in the first quarter on revenue of $1.5 billion.
Interest expense was $7.7 million, compared to $4.2 million for the prior year, due to the issuance of $500 million of senior notes in June 2011. More...

May-05 -- Duke Energy Profit Falls on Coal-Plant Charge
Progress decided to manage the project itself instead of hiring one of two firms that successfully handled similar projects at other plants around the country.
“There’s no question there’s been a lot of anxiety,” said Mark Mulhern, Progress’s chief financial officer, after the company reported quarterly earnings Thursday. More...

May-05 -- US GAS: Profit-Taking Snuffs Out Raucous Futures Rally
The price of natural gas futures added 8.7 cents to end the day at $2.34 per 1,000 cubic feet in New York.
The price of gas has fallen to below $2 per 1,000 cubic feet, almost one-seventh of the price four years ago. More...

May-05 -- Brazil Savings Changes Broadly Welcomed Amid Lower Interest Rates
Yields on Brazilian interest-rate futures contracts fell to a record as President Dilma Rousseff said interest rates need to be lower, fueling bets the central bank may extend the cycle of borrowing-cost cuts.
Mantega said the so-called Selic rate would only continue to fall if inflation is totally under control. More...

May-05 -- Why There Will Never Be Another Warren Buffett
For the first time, Berkshire Hathaway will invite stock analysts to its annual meeting, where they will be given the chance to pose questions for management.
Berkshire, which owns 80 subsidiaries that range from a railroad to an upscale kitchen products company, is already decentralized. More...

Friday (Update 1)

May-04 -- US economy adds 115000 jobs in April; unemployment rate dips to 8.1%
The number of U.S. jobs grew only 115,000 last month, a figure that was below Wall Street expectations as slowing U.S. economy growth continued to weigh on employment.
The rate for the 17 countries that use the euro inched up to 10.9 percent that month, 0.1 percent higher than February. More...

May-04 -- Dollar Fluctuates Versus Euro as Jobs Data Trail Forecast
The euro weakened for a fifth day against the dollar after a European report showed the region's manufacturing and services industries shrank in April more than economists predicted.
The 17-nation currency fell to a two-week low versus the yen on bets European Central Bank President Mario Draghi may hint at further easing at a meeting tomorrow. More...

May-04 -- Tech world is out for blood -- Yahoo CEO Scott Thompson's
Activist shareholder Daniel Loeb, who leads Third Point investment fund, wrote Thursday to the Securities and Exchange Commission, charging that Thompson's resume had been embellished.
May 4 (Bloomberg) -- Yahoo! Inc. will review the educational record of Chief Executive Officer Scott Thompson after investor Third Point LLC, which is fighting for representation on the company board, highlighted an. More...

May-04 -- TransCanada applies for Keystone XL pipeline permit
"The multibillion-dollar Keystone XL pipeline project will reduce the United States' dependence on foreign oil and support job growth by putting thousands of Americans to work," TransCanada chief exeuctive office Russ Girling said in a statement Friday.
The State Department has jurisdiction over granting the pipeline permit because the project crosses an international border. More...

May-04 -- Washington Post Co. first quarter earnings double; ad revenue continues slide
Income from continuing operations attributable to common shares was $10.8 million ($1.37 per share) for the first quarter of 2012, compared to $17.9 million ($2.21 per share) for the first quarter of 2011.
The calculation of diluted earnings per share for the first quarter of 2012 was based on 7,614,623 weighted average shares outstanding, compared to 8,119,373 for the first quarter of 2011. More...

May-04 -- US business startups rate at record low,
A new report from the Ewing Marion Kauffman Foundation, using data from the Census Bureau's Business Dynamics Statistics, shows that the number of start-ups in a given year declined from about 12 percent of all companies in the 1980s to less than 8 percent in 2010, the lowest point on record.
The census report also found that the decline in startups has affected job creation and startups' share of total employment. More...

May-04 -- Euro-Zone Bonds Shrug Off Services Slump
Japan's markets were closed on Friday for a national holiday.
LONDON (Reuters) - European shares lost ground on Friday and Brent oil sank towards its steepest weekly fall this year, ahead of a reading on the U.S. jobs market that could heighten concerns about the health of the world's biggest economy. More...

May-04 -- OIL FUTURES: Crude Tad Lower In Asia; Focus On US Jobs Data
SINGAPORE, May 1 (Reuters) - Brent crude held steady above $119 a barrel on Tuesday as China's manufacturing activities grew, providing a bright spark amid a gloomier economic outlook in the euro zone and the United States that could depress fuel demand.
Singapore gasoil swaps for June rose 50 cents, or 0.4 percent, to $133.40 a barrel. More...

May-04 -- SodaStream Tumbles After Green Mountain Plunge: Israel Overnight
Net income increased 42 percent from the year earlier quarter, but the future earnings have investors scrambling for the exits.
Rising input costs (green coffee prices) forced GMCR to increase prices on its K-Cup portion packs. More...

May-04 -- LinkedIn to Buy SlideShare for $119 Million
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
Eight Wall Street analysts expected LinkedIn to generate revenues of $178.58 million for the quarter. More...

May-04 -- Estée Lauder fourth-quarter forecast disappoints, shares fall
The fiscal 2011 third quarter results included returns and charges associated with restructuring activities of $23.5 million ($17.9 million after tax), equal to $.04 per diluted common share.
The Company reported net earnings for the quarter of $130.4 million, a 5% increase compared with $124.7 million last year. More...

May-04 -- Duke Energy Earnings Fall on Construction Costs
Commercial Power's quarterly results decreased primarily because of lower earnings from the Midwest coal generation fleet (-$0.02 per share impact) resulting from the new ESP in Ohio, and lower margins and volumes realized by Duke Energy Retail (-$0.01 per share impact).
The company has now surpassed analyst estimates for four quarters in a row. More...

May-04 -- Comex Gold Slightly Lower as US Jobs Report Awaited
Stronger economic growth will lessen the need for the U.S. Federal Reserve to further ease monetary policy, and dent investor appetite in bullion which benefits from low real interest rates.
Spot gold was down 0.3 percent at $1,631.80 an ounce at 1136 GMT, while U.S. gold futures for June delivery were down $2.20 an ounce at $1,632.60. More...

May-04 -- As Japan shuts down nuclear power, emissions rise
TOKYO -- The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.
The 28-nation International Energy Agency maintains that nuclear power remains an important tool to battle global warming. More...

May-04 -- GeoEye Makes Bid for DigitalGlobe
May 4 (Reuters) - Satellite imagery company GeoEye Inc offered to buy rival DigitalGlobe Inc for $792 million in a cash-and-stock deal that would create the world's largest fleet of commercial imagery satellites.
The proposed transaction would give DigitalGlobe shareholders $17.00 per share in total consideration, payable $8.50 per share in cash and $8.50 in GeoEye stock, or 0.3537 shares of GeoEye stock for each share of DigitalGlobe stock. More...

May-04 -- 'No Plans to Invest in Facebook IPO': Warren Buffett
Warren Buffett's disciples are certainly a loyal bunch.
Although the cancer was caught early and isn't considered life-threatening, the news still highlights the fact that Buffett is 82 years old and won't be around forever. More...

May-04 -- Third Brother Arrested in Inquiry Into Hong Kong Developer
HONG KONG Hong Kong-listed Sun Hung Kai Properties Ltd.(0016.HK), said Friday that Walter Kwok, former chairman and the eldest son of the company's founding family, was arrested by the city's antigraft agency in connection with a bribery probe.
The company said the arrest would not affect the normal business and operations of SHKP. Trading in shares of the blue-chip property developer and its affiliated unit SUNeVision were suspended until 1 p.m. More...

May-04 -- Argentina's Congress Approves YPF Takeover Bill
Supporters of an oil nationalization bill proposed by Argentina's President Cristina Fernandez holds up flags reading in Spanish "Fight and return YPF" outside Congress as senators debate the bill in Buenos Aires, Argentina, in this file photo.
Argentina's government founded the company in the 1920s and it was then privatized in the 1990s. More...

May-04 -- Rebound aids BNP and RBS slimming plans
Paris (dpa) - Net profits at France's biggest bank BNP Paribas grew 9.6 per cent in the first quarter of 2012, boosted by capital gains on asset disposals, the bank said Friday.
BNP Paribas, France’s biggest bank, reported a better-than-expected rise in first-quarter profit Friday after the sale of shares in real estate investment company Klepierre. More...

May-04 -- US Stock Futures Decline After Jobs Report
U.S. stock market futures fell Wednesday after disappointing data on Europe's economy and a report showing slowing job growth at home.
Separately, factory orders in March declined 1.5% from February, in line with expectations. More...

Friday

May-04 -- Zuckerberg's Facebook IPO Will Make Him Richer Than Ballmer
Facebook is about to create some overnight liquid millionaires and billionaires as they cash in on the company's initial public stock offering later this month.
The stock being sold would be worth $2.2 billion, based on the midpoint of the proposed range. More...

May-04 -- Asian shares fall after data, ECB disappoint
EUR/USD volatility falls ahead of U.S. jobs data By Julie Haviv NEW YORK, May 3 (Reuters) - The euro slid against the dollar for a fourth day on Thursday as European Central Bank chief Mario Draghi gave a more upbeat assessment of the region's economy but left the door open for policy easing, keeping investors cautious a day before key U.S. labor market data.
"We continue to expect the euro area economy to recover gradually during the course of the year." More...

May-04 -- Yahoo Investor Criticizes CEO for Embellishing His Education
SAN FRANCISCO (Reuters) - Activist hedge fund Third Point on Thursday accused Yahoo Inc's new chief executive, Scott Thompson, of padding his educational record, and Yahoo called the discrepancy an "inadvertent error."
Yahoo Inc. (YHOO) admitted Chief Executive Scott Thompson doesn't have the academic credentials that the company said he did, a statement that came after the company's chief critic questioned his credibility and character. More...

May-04 -- Argentina nationalizes oil company YPF
Supporters of an oil nationalization bill proposed by Argentina's President Cristina Fernandez holds up flags reading in Spanish "Fight and return YPF" outside Congress as senators debate the bill in Buenos Aires, Argentina, in this file photo.
Later that year, the Buenos Aires government seized nearly $30 billion in private pension funds , allegedly to protect retirees from the weak market. More...

May-04 -- Green Mountain Shares Fall After Company Cuts Outlook
After the close of trading Wednesday, Green Mountain reported sales that were far short of expectations: $885.1 million, compared with the consensus estimate of $971.7 million.
Green Mountain also reduced its fiscal 2012 sales guidance from between $4.3 and $4.5 billion to between $3.8 and $4 billion. More...

May-04 -- US business startups rate at record low,
A new report from the Ewing Marion Kauffman Foundation, using data from the Census Bureau's Business Dynamics Statistics, shows that the number of start-ups in a given year declined from about 12 percent of all companies in the 1980s to less than 8 percent in 2010, the lowest point on record.
The census report also found that the decline in startups has affected job creation and startups' share of total employment. More...

May-04 -- For Buffett, Health And Succession On The Table At Berkshire Meeting
Warren Buffett's disciples are certainly a loyal bunch.
Buffett, a longtime Democratic supporter, personally gave $30,000 to two organizations: the Obama Victory Fund 2012 and the Democratic National Committee. More...

May-04 -- United puts final touches on order for 100 Boeing 737 jets
The new winglet concept has been incorporated into the design of the aircraft and the production plans, says Boeing.
The device, known as a winglet, is the latest example of contortions in wing design to improve efficiency and updates the upward-slanting wingtip already familiar to many 737 passengers. More...

May-04 -- California pension fund sues Wal-Mart, alleges bribery
Wal-Mart sent investigators to Mexico City and found a paper trail of hundreds of suspect payments totaling more than $24 million, but the company's leaders shut down the investigation and neglected to notify U.S. or Mexican law enforcement officials, the Times reported.
NEW YORK (CBSNewYork) - In the wake of a bribery scandal, New York City's pension fund managers plan to vote against the re-election of several members of the Walmart board, and City Comptroller John Liu has spoken out. More...

May-04 -- LinkedIn to buy SlideShare as 1Q beats Street
SAN FRANCISCO — Career-oriented social network LinkedIn on Thursday announced a $118.75 million deal to buy a SlideShare service for online hosting of PowerPoint, Keynote and other presentations.
LinkedIn also reported first quarter non-GAAP EPS of $0.15, up from $0.06 in the previous year. More...

May-04 -- Summary of Reported EPS for First Quarter of '12 for S&P 500
The Citigroup Economic Surprise Index is at minus 20.40, the lowest since October.
The S&P is up more than 11 percent for the year. More...

May-04 -- Sky Capital founder sentenced to 12 years prison
Sky Capital Holdings Ltd. founder Ross Mandell was sentenced to 12 years in prison for operating what prosecutors alleged was an eight-year scheme that defrauded investors of $140 million.
The broker agreed to secretly tape-record conversations with Mandell. More...

May-04 -- Once Remote, Goldman Sachs Puts on a Friendly Public Face
NEW YORK (Reuters) - Goldman Sachs Group Chief Executive Lloyd Blankfein said on Wednesday his recent very public support for gay rights had cost the investment bank at least one client.
Romney has called for a rollback of the Dodd-Frank Act that boosted regulation and threatens to crimp banks' profitability. More...

May-04 -- McDonald's to offer more limited-time items
A seasonal blueberry banana nut oatmeal will be available nationwide by mid-month, and an iced drink called the Cherry Berry Chiller is already available everywhere.
Inside of visiting different places to get something less ho hum, McD's is trying to head that off by spicing things up in the dining room now and again. More...

May-04 -- First Solar, SunPower See 2012 Gains After Quarterly Loss
First Solar reported a loss of $450 million in the first quarter of 2012, the price it is paying to restructure its business among an increasingly competitive solar panel industry.
"Jim brings a wide range of experience that will be invaluable in leading our organization, having owned and operated utilities, built power projects, cultivated partnerships and led profitable growth in a wide array of key markets around the world." More...

May-04 -- Unemployment drops sharply, Labor Department says
The four-week average, a less volatile measure, ticked up to 383,500 last week, the highest level since December.
Economists currently expect the report to show an increase of about 165,000 jobs in April compared to the addition of 120,000 jobs in March. More...

May-04 -- Wells Fargo's mortgage dominance worries regulators and investors
May 3, 2012 RSS Feed Print Average rates on 30-year fixed-rate mortgages fell to a new low of 3.84 percent.
Bank of Canada (BoC) Governor Mark Carney's initial response was to cut our short-term interest rates to emergency levels while the rest of us held our collective breath. More...

May-04 -- Kraft Foods says higher prices helped boost first-quarter net income by 1.8 ...
Driven by product innovation, price increases and global growth of its main brands, Kraft Foods Inc. reported a climb in its earnings, beating the analysts' earnings per share estimate by a penny.
We continue to expect 2012 Organic Net Revenue growth of approximately 5 percent and Operating EPS growth of at least 9 percent on a constant currency basis." More...

May-04 -- Spirit's $100 carry-on bag fee just the tip of the iceberg
Spirit Airlines is telling customers that the federal government is "hiding" fees in airfares.
Spirit is one of two domestic carriers that charge for carry-on bags. More...

May-04 -- AIG Says Its Earnings Doubled in 1st Quarter
Insurer American International Group, which came close to collapsing during the financial crisis before being bailed out by the U.S. government, says its profit grew more than twofold in the first quarter.
Chartis reports operating income of $1.0bn in the first quarter of 2012, compared to $424m loss in last year's first quarter. More...

Thursday (Update 2)

May-04 -- Facebook Valuing Itself at Up to $96 Billion in Internet IPO
Facebook on Thursday set a proposed price range of $28 to $35 per share for its highly anticipated initial public offering.
Facebook CEO and founder Mark Zuckerberg plans to sell 30.2 million shares in the IPO offering. More...

May-04 -- Amazon's Kindle Fire shipments slump in Q1: IDC
Target will stop selling Amazon.com's Kindle brand of e-readers and tablets after two years, while continuing to offer similar products from Apple Inc. and Barnes & Noble Inc. Target will still offer Barnes & Noble's Nook brand of e-readers and tablets and Apple's iPad in its stores and on its website, Snyder said.
Amazon will HAVE to start charging sales tax for online purchases, the company has even admitted doing so sometime last year. More...

May-04 -- Third Point: Yahoo CEO faked educational record
The gloves are now really off in the proxy battle for Yahoo.
Yahoo responded with a statement that said Thompson's degree is in business administration, with a major in accounting. More...

May-04 -- April retail sales worst since 2009
"I jump started on my shopping because the weather was nice," said Batinich, who works in public relations.
International same-store sales at the largest U.S. warehouse club operator, rose 3 percent in April. More...

May-04 -- GM Q1 earnings plunge on Europe troubles
The company's net income was hurt by problems in Europe that forced it to change how it accounts for its factories there, recording them as less valuable.
Adjusted earnings before interest and tax or adjusted-EBIT were $2.2 billion, an increase of $0.2 billion compared with $2.0 billion in the first quarter of 2011. More...

May-04 -- FOREX-Euro drops as uncertainty weighs before US jobs data
NEW YORK (Reuters) - The euro slid against the dollar for a fourth day on Thursday as European Central Bank chief Mario Draghi gave a more upbeat assessment of the region's economy but left the door open for policy easing, keeping investors cautious a day before key U.S. labor market data.
I remember that in the ten years before the crisis hit the UK had higher interest rates than any other G7 country for nine-and-a-half of the ten years. More...

May-04 -- LinkedIn Agrees to Buy SlideShare, Beats on Earnings
First quarter revenue at LinkedIn rose 101 percent to $188.5 million, besting analysts' average forecast of $178.58 million, according to Thomson Reuters I/B/E/S. Shares of LinkedIn were up 9 percent in after-hours trading to $120.50 from their $109.41 close in regular trading.
Rashmi Sinha, CEO of SlideShare, commented, "We built SlideShare to help professionals share presentations and connect people through content. More...

May-04 -- Green Mountain, Heelys And Why Wallflowers Trump Fads
Shares of Green Mountain Coffee ( GMCR ) are getting a good grinding Thursday after the coffee maker lowered its full-year outlook, and then left analysts bemused as to why sales missed estimates for the second time in three quarters.
The majority of analysts (69.2%) rate Green Mountain Coffee as a buy. More...

May-04 -- Kraft 1Q Profit Up 1.8% As Revenue Strengthens, Margins Weaken
Higher costs for ingredients reduced Kraft's gross profit margin to 35.6 percent, down from 36.9 percent.
Power Brands, new products and a continued focus on cost management fueled solid revenue and Underlying Operating Income growth in Kraft Foods North America. More...

May-04 -- Spirit Airlines' boss calls complaints 'irrelevant,' says dying veteran should ...
Spirit Airlines is telling customers that the federal government is "hiding" fees in airfares.
More than 6,000 people have liked the "Boycott Spirit Airlines" page, and at least two national veterans groups are also calling for the boycott. More...

May-04 -- 'Limited-time' items become a regular feature at McDonald's
For McDonald's, the limited-time offer also lets the company adapt more easily to evolving consumer tastes that are leaning more toward fresh, seasonal ingredients.
Post Forum members consistently offer thought-provoking, timely comments on politics, national and international affairs. More...

May-04 -- US STOCKS-Wall St slips day ahead of jobs report
The Citigroup Economic Surprise Index is at minus 20.40, the lowest since October.
Of the 391 companies in the S&P 500 index reporting results, 68.3 percent have exceeded expectations, according to Thomson Reuters data through Thursday morning. More...

May-04 -- NATION: U.S. applications for unemployment drop sharply
The four-week average, a less volatile measure, ticked up to 383,500 last week, the highest level since December.
A Labor Department official said there was nothing unusual in the state-level data and only claims for Alaska had been estimated. More...

May-04 -- What's Berkshire without Buffett? Company watchers say his legacy will guide ...
Warren Buffett's disciples are certainly a loyal bunch.
Buffett, a longtime Democratic supporter, personally gave $30,000 to two organizations: the Obama Victory Fund 2012 and the Democratic National Committee. More...

May-04 -- Carlyle IPO Closes With Minor Gains
The price for Carlyle, which had offered the shares for $23 to $25, represents a 65 percent discount to larger rival Blackstone Group LP. In pricing its IPO, Carlyle sought to avoid the fate of Blackstone, Apollo Global Management LLC and other alternative asset managers, whose stocks have tumbled in public trading.
Carlyle is one of the worlds largest private-equity firms, with $147 billion under management. More...

May-04 -- Services dip signals US growth may be cooling
The prices index dropped sharply, by 10.3 percentage points to 53.6 percent, indicating prices increased at a significantly slower rate in April when compared with March.
Companies saw less growth in new orders and hired at a weaker pace. More...

May-04 -- Natural gas prices rise 4 percent; oil drops
The price of natural gas futures added 8.7 cents to end the day at $2.34 per 1,000 cubic feet in New York.
Coming Up: EIA natgas storage data Thursday By Eileen Houlihan NEW YORK, May 2 (Reuters) - Most U.S. spot natural gas prices rose for a third straight day on Wednesday, boosted by continued follow through to recent gains in gas futures, active storage buying and talk of more supply cuts. More...

May-04 -- Freddie Mac Says Mortgage Buyback Requests Rose to $3.2 Billion
The government has spent more than $160 billion in taxpayer funds to prop up Fannie Mae and sister agency Freddie Mac.
Updated Tuesday at 5:15 p.m. ET: A top U.S. housing regulator failed to implement a plan to cut loan principal balances for millions of underwater homeowners even though a pilot program showed two years ago it could save taxpayers money, two House Democrats said Tuesday. More...

May-04 -- 5 things Washington can do to boost startups
A new report from the Ewing Marion Kauffman Foundation, using data from the Census Bureau's Business Dynamics Statistics, shows that the number of start-ups in a given year declined from about 12 percent of all companies in the 1980s to less than 8 percent in 2010, the lowest point on record.
The group's latest entrepreneurship activity index showed that 0.32 percent of adults created a business per month last year -- a 5.9 percent drop from 2010 but still slightly higher than pre-recession levels. More...

May-04 -- Chesapeake Energy, McClendon under US SEC probe
Chesapeake, based in Oklahoma City, is second only to Exxon Mobil ( XOM, Fortune 500 ) for drilling natural gas in the U.S. The company has been hurt by rock bottom prices for the fuel, which have declined 53% over the last year.
The company's stock tumbled 60 percent and McClendon was forced to sell $550 million of stock to cover bank demands for repayment of loans. More...

Thursday (Update 1)

May-03 -- Jobless claims show improvement
Adding to data points showing that comparatively robust hiring growth late last year has slowed down as winter turns to spring, ADP reported Wednesday it estimates U.S. businesses added just 119,000 new jobs in April, down 82,000 from March, or by 40.7 percent, and the fewest new jobs added in ADP's survey in seven months.
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May-03 -- ECB's Draghi Says Economic Outlook Has Become More Uncertain
May 3 (Bloomberg) -- European Central Bank President Mario Draghi said the economic outlook in the euro area is subject to downside risks and inflation pressures should remain limited.
"The effect of the three-year LTROs (ECB's injections of about 1 trillion euros into the banking system) is losing steam and risks for Spanish spreads are elevated in the weeks ahead," said ING rate strategist Alessandro Giansanti. More...

May-03 -- GM: Good results, despite Europe loss
The company's net income was hurt by problems in Europe that forced it to change how it accounts for its factories there, recording them as less valuable.
The U.S. government, which last year said it expects to lose about $23.6 billion form the 2009 bailout of GM and Chrysler, still owns about 30 percent of GM as part of the bailout. More...

May-03 -- Soft April Sales for Large Retailers
Many also say that May will be a better indicator of shoppers' behavior.
Retailers were up against tough comparisons last year, when retail sales jumped 9.0 percent, according to Thomson Reuters. More...

May-03 -- U.S. Productivity Falls, Labor Costs Rise Less Than Forecast
Most economists have viewed the pull-back in job growth as payback after the weather-induced gains in the previous months. Federal Reserve Chairman Ben Bernanke said last week an unseasonably warm winter had probably brought forward some of the hiring by companies, likely artificially boosting payrolls in January and February.
Economists surveyed by Dow Jones Newswires had forecast that productivity would fall 0.8% in the quarter and labor costs would jump 2.7%. More...

May-03 -- Carlyle IPO to add to fortunes of some of DC's wealthiest people
The Carlyle Group made it clear it would offer investors a discount to private equity rivals like Blackstone Group and Apollo Global Management with its initial public offering, but that rate wound up being slightly more of a bargain than intended Wednesday.
According to the Bloomberg report, Carlyle has enough orders to cover the sale at $23 and may choose to price the IPO lower in order to increase the possibility of gains for investors on the first day of trading and better performace in the longer term. More...

May-03 -- Cablevision Profit Tops Estimates as TV Service Gains Customers
Cablevision gained 7,000 video customers in the quarter.
Cable TV and Internet provider Cablevision Systems Corporation ( ]] ]] ) on Thursday said its first quarter earnings fell significantly from last year, but results still topped Wall Street's expectations. More...

May-03 -- SocGen's booming fixed income brightens profit hit
French bank Societe Generale says its earnings have dropped sharply in the first quarter as it continues with its efforts to meet new international banking capital requirements.
Societe Generale rallied 3.8 percent after France's second-largest bank reported a smaller decline in profit than analysts estimated on a rebound in fixed-income revenue. More...

May-03 -- Freddie Posts Lower Profit, to Request More Government Aid
Cummings and Representative John Tierney of Massachusetts said in the letter to FHFA Acting Director Edward DeMarco that a former Fannie Mae employee had told congressional staff that executives at the mortgage giant canceled "at the 11th hour" the launch of a pilot program to reduce loan balances for troubled borrowers in 2010, despite months of preparation and deliberation to test the success rate of principal forgiveness.
The executives were accused of understating the level of high-risk subprime mortgages that Freddie and Fannie held just before the housing bubble burst in 2007. More...

May-03 -- Texas Ranks as Top State for Doing Business - Again!
"Local economic development corporations, as well as the state Texas Enterprise Fund, are providing attractive incentives," said J.P. Donlon, editor-in-chief of Chief Executive magazine and ChiefExecutive.net.
Governor Bobby Jindal said, "Since we took office in 2008, we've worked tirelessly to create a business environment where companies want to invest and create jobs for our people. More...

May-03 -- COUNTERINTUITIVE: Facebook Engagement Goes Up When Brands Are On Twitter And ...
As social media becomes more and more important from a business perspective, venues.org.uk is delighted to announce the relaunch of its Twitter feed ]] Twitter feed and the launch of its brand new Facebook page ]] Facebook page .
"Social media channels create an ideal two-way platform for direct conversations with customers. More...

May-03 -- OPEC wants to push oil down to $100/bbl: Chief
OPEC's secretary general told an energy conference on Thursday the group was working hard to bring down oil prices, and that total output was far in excess of its official target.
Oil prices surged in March to $128 a barrel, the highest level since 2008, because of concern about possible supply shortages. More...

May-03 -- US April Job Cuts Up 11% From A Year Ago
Employers in the U.S. announced more job cuts in April than a year earlier, led by education and government agencies.
Educational institutions led firings with 9,027 planned cuts in April, followed by 3,100 in government. More...

May-03 -- Spain Auctions $3.3BN in Mid-Term Debt
LONDON, UK - Spain's borrowing costs surged on Thursday at its first bond auction since Standard & Poor's slashed the country's credit rating last week, though strong demand at the sale indicates that investor appetite for Spanish debt remains healthy.
Spanish stocks plunged, pushing the IBEX 35 Index (IBEX) to its lowest level in more than three years, as a selloff in banks sent the benchmark measure tumbling. More...

May-03 -- China fuels record profits at German luxury carmakers
"We have recorded the best first-quarter figures ever -- for sales volume, revenues and earnings -- in the BMW Group's corporate history," Chief Executive Norbert Reithofer said in a statement.
Earnings before interest and taxes (EBIT) rose nearly 19 percent to 2.13 billion euros ($2.8 billion), against an average estimate of 1.77 billion from a Reuters poll of 13 banks and brokerages. More...

May-03 -- Alpha Natural Resources reports 1Q loss of $29 million due to weak energy ...
Earnings before interest, taxes, depreciation, depletion and amortization, or EBITDA, for the first quarter 2012 was $222.1 million, compared to $193.0 million in the year ago period.
Alpha defines adjusted coal margin per ton as the average realized price per ton sold less the adjusted cost of coal sales per ton. More...

May-03 -- Green Mountain Plunges as Slowing Sales Prompt Forecast Cut
Green Mountain Coffee Roasters Inc.' s (GMCR) fiscal second-quarter income rose 42% as sales of its K-Cup coffee and tea portion packs continued to improve, though sales were weaker than expected and margins narrowed.
The majority of analysts (69.2%) rate Green Mountain Coffee as a buy. More...

May-03 -- Viacom 2Q earnings up 56 percent
Adjusted diluted earnings per share from continuing operations for the quarter were $0.98, a 36% increase from $0.72 in the prior year's comparable quarter, reflecting the increase in adjusted net earnings from continuing operations and a reduction in outstanding shares due to the Company's ongoing stock repurchase program.
Revenues rose 2% to $3.3 billion. More...

May-03 -- Apache profit dips despite higher output
U.S. liquids production reached 148,000 barrels per day, representing an 11 percent increase over first-quarter 2011 results, as global liquids production rose 6 percent over the same period.
The Houston-based oil and gas exploration and production company collected $4.5 billion in revenue in the first quarter, up 15 percent from the same year-ago period. More...

Thursday

May-03 -- RBI Releases Rules for Basel-III Implementation
We have to take care that we have standardised rules," said German Finance Minister Wolfgang Schaueble.
Prudential norms under the so-called Basel-III have become a bone of contention between bankers and regulators as the former say it would drag down return ratios and may not serve the purpose. More...

May-03 -- US Presses China Over Currency in Economy Talks
BEIJING — U.S. Treasury Secretary Timothy Geithner on Thursday urged China to allow further appreciation of its yuan currency against the dollar at the start of talks between the world's two biggest economies.
Our monthly statistical report displays a comprehensive view of currency values against the U.S. dollar but also v. the euro, the British pound, the Indian and Pak rupees and the China's renminbi. More...

May-03 -- ECB meets under tight security in Barcelona
ECB loans worth more than $1.3 trillion have been recycled into government bonds, capping borrowing costs.
In December 2011 and February 2012, the ECB offered unlimited financing to European banks at one per cent for three years, replacing a previous 13-month programme. More...

May-03 -- Stocks mixed on earnings, jobs data
Jacobs Engineering Group Inc. fell 4.9 percent to $41.70.
Although the Dow broke out to new four year highs on Tuesday after strong manufacturing data, the S&P 500 once again struggled to move above the 1,400 mark, a resistance level it has struggled with for weeks. More...

May-03 -- Green Mountain Plummets 41% On Weak Outlook, But Q2 Profit Rises
Actual vs. Wall St. Expectations: Green Mountain Coffee Roasters Inc. reported adjusted net income of 64 cents per share.
Revenue of $885 million missed expectations for $972 million. More...

May-03 -- For recruiters, OTC can be a huge job fair
HOUSTON -- Two years after an oil spill that sent the offshore drilling industry into a period of re-evaluation and scrutiny, the aura surrounding this year's Offshore Technology Conference is almost giddy.
You make a model, and dozens are on display among the massive valves, diesel generators, centrifuges and dynamic gas blenders in the cavernous hall, a touch of delicacy in a decidedly brawny world. More...

May-03 -- CEOs rank Texas tops for business, California worst
"Local economic development corporations, as well as the state Texas Enterprise Fund, are providing attractive incentives," said J.P. Donlon, editor-in-chief of Chief Executive magazine and ChiefExecutive.net.
Area Development magazine ranked Louisiana No. 6 among the Top States for Doing Business in 2011, Louisiana's highest-ever ranking. More...

May-03 -- Carlyle IPO raises unimpressive $671 million
The Carlyle Group made it clear it would offer investors a discount to private equity rivals like Blackstone Group and Apollo Global Management with its initial public offering, but that rate wound up being slightly more of a bargain than intended Wednesday.
Carlyle says it will IPO at a discount to other alternative investment managers, based on Carlyle producing $862 million in distributable earnings for 2011. More...

May-03 -- Is Europe's Weakness Finally Reaching Germany?
Germany's labour agency says the country's unemployment rate slipped from 7.2 per cent in March thanks to the continuing traditional springtime upturn and the country's robust economy.
"The positive trend on the labour market remains intact, but the economy has lost momentum," said labour office chief Frank-Juergen Weise. More...

May-03 -- Visa Shares Decline on U.S. Antitrust Probe Into Debit Strategy
Twenty-nine analysts had a consensus revenue estimate of $2.48 billion for the second quarter.
MasterCard's revenues are expected to grow 15% to $1.727 billion versus a growth of 10% to $2.479 billion for Visa. More...

May-03 -- Chesapeake Alone on Wall Street in Gas-Rally Bailout: Energy
Chesapeake, based in Oklahoma City, is second only to Exxon Mobil ( XOM, Fortune 500 ) for drilling natural gas in the U.S. The company has been hurt by rock bottom prices for the fuel, which have declined 53% over the last year.
The revelation that Chesapeake was still heavily exposed to weak natural gas prices sent shares down almost 6% in after-hours trading. More...

May-03 -- Spirit ups carry-on bag fee to $200 round-trip for some
The fee for checking a bag once at the airport is $45 each way ($90 round trip).
The new carry-on fee is up significantly from the $45 each way - or $90 round trip - that Spirit currently charges for carry-on bags declared at the gate. More...

May-03 -- Temasek Raises US$2.48 Bln Via BOC, CCB Share Sales; Stays Bullish On China Banks
The firm also got a similar amount divesting 1.6 billion shares in China Construction Bank at HK$5.99 each, another document shows, 2.8 percent lower than the stock's close yesterday.
At the end of last year, Temasek held 5.91 billion BoC H-shares, representing 7.07 percent of total issued H-shares or 2.12 percent of A plus H shares. More...

May-03 -- No July break now for 4 Chrysler plants as sales jump
Chrysler said it decided to skip the customary summer shutdown so that it can meet growing demand for its vehicles.
They can't build enough of them. More...

May-03 -- Yelp loses $9.83 million in its first quarter since going public
TechCrunch Yelp's Post-IPO Earnings: $27.4M in Revenue, Up 66% From A Year Earlier, But Net Loss Triples Kim-Mai Cutler In its first ever earnings report as a publicly-traded company, Yelp said it earned $27.4 million in revenue, up 66 percent from the $16.5 million it made in the same time a year ago.
Sales and marketing costs rose to $18.8 million, up from $11.3 million the year before. More...

May-03 -- Bloomberg TV wins FCC dispute with Comcast over placement of channel in ...
The FCC's media bureau concluded on Wednesday that Comcast does in fact neighborhood news channels, which it defined as having four news channels within any five adjacent channel positions.
The Commission's Media Bureau, citing conditions of Comcast's 2011 merger with NBCUniversal, ruled "the news neighborhooding condition requires Comcast to carry all independent news and business news channels in a neighborhood if it places any such programming in a neighborhood of similar programming." More...

May-03 -- China official services PMI retreats in April
Asian shares rose across the board, with China's Shanghai Composite index pacing the gainers with a 2 percent gain after a detailed survey report from Markit Economics revealed that the pace of deterioration in manufacturing activity had slowed following a difficult first quarter.
In Europe, Germany's DAX was up 0.8 percent at 6,810 while the CAC-40 in France rose 1.2 percent to 3,250. More...

May-03 -- Rate of new businesses dropping, according to analysis of Census Bureau figures
A new report from the Ewing Marion Kauffman Foundation, using data from the Census Bureau's Business Dynamics Statistics, shows that the number of start-ups in a given year declined from about 12 percent of all companies in the 1980s to less than 8 percent in 2010, the lowest point on record.
The group's latest entrepreneurship activity index showed that 0.32 percent of adults created a business per month last year -- a 5.9 percent drop from 2010 but still slightly higher than pre-recession levels. More...

May-03 -- Dimon Meets Tarullo as Banks Lobby Fed on Softer Rules
The chiefs of six large U.S. banks, meeting on Wednesday with a key Federal Reserve official, aired their grievances about a host of proposed regulations meant to prevent a repeat of the 2007-2009 financial crisis.
Richmond Fed President Jeffrey Lacker in March called for Congress to eliminate the Fed's authority to lend to institutions other than banks, strengthen "living wills" that outline how financial companies would be unwound and change U.S. bankruptcy law so it would work for the financial sector. More...

May-03 -- Asia Stocks Fall as Jobs, China Data Spark Growth Concern
LONDON, May 2 (Reuters) - European shares fell on Wednesday after a weak euro zone manufacturing report heightened concerns about the region's economic crisis and U.S. data dampened optimism that the world's largest economy could drive growth on both sides of the Atlantic.
The quarterly earnings season has got off to a decent start, even as the euro zone debt crisis drags on, with 55 percent of the STOXX 600 companies that have reported so far either meeting or beating expectations, Thomson Reuters Starmine data shows. More...

Wednesday (Update 2)

May-03 -- Chesapeake's Chief Executive Addresses Disclosures
Chesapeake, based in Oklahoma City, is second only to Exxon Mobil ( XOM, Fortune 500 ) for drilling natural gas in the U.S. The company has been hurt by rock bottom prices for the fuel, which have declined 53% over the last year.
Reuters reported on April 18 that McClendon has mortgaged his interest in those wells for at least $1.1 billion, a fact previously undisclosed to shareholders. More...

May-03 -- Amazon Kindle will stop being sold at Target
Target Corp. confirmed today that it will stop selling Amazon.com Inc.' s Kindle e-readers, tablets and all accessories at its stores and on its website, the Associated Press reported .
Retailing giant Target Corp. ( NYSE: TGT ) will discontinue selling the Kindle family of tablets and e-readers by this summer. More...

May-03 -- Comparing monthly US job gains in the ADP and government reports, at a glance
The manufacturing sector shed 5,000 jobs, the first loss since September of last year.
The construction sector's employment also fell by 5,000 jobs, the first decline in seven months, following "healthy gains during the unusually warm winter months," ADP reported. More...

May-03 -- GLOBAL MARKETS-Stocks, euro slip after weak data
LONDON, May 2 (Reuters) - European shares fell on Wednesday after a weak euro zone manufacturing report heightened concerns about the region's economic crisis and U.S. data dampened optimism that the world's largest economy could drive growth on both sides of the Atlantic.
The reason for the mysterious disappearance of credit differentials between northern and southern Europe is now clear - it is the Target (and, from 2007, Target-2) EU payments system. More...

May-03 -- Green Mountain Coffee 2Q Net Up 42% On Stronger K-Cup Sales
Actual vs. Wall St. Expectations: Green Mountain Coffee Roasters Inc. reported adjusted net income of 64 cents per share.
Revenue of $885 million missed expectations for $972 million. More...

May-03 -- DreamWorks Animation Profit Rises 3.2% on 'Puss in Boots'
Analysts were expecting revenue of $134.3 million.
For the quarter, the company reported revenue of $136.1 million and profits of 11 cents a share, ahead of the Street consensus at $133.5 million and 9 cents. More...

May-03 -- Visa Profit Climbs 47% as Consumers Boost Credit-Card Spending
MasterCard and bigger rival, Visa, operate payment networks that help facilitate credit- and debit-card transactions for banks.
U.S. Bancorp ( USB ) reported back on April credit card loan growth was up 3.1% sequentially, while credit volume growth rose 9.8% from 4Q 2011 - positive news for the credit card issuers (MasterCard & Visa). More...

May-03 -- US Stocks End Mostly Lower As Hiring Report Adds To Concerns
The Dow Jones industrial average fell as much as 87 points before ending the day down 10.75 points, at 13,268.57.
In U.S. stocks, one of the biggest losses came at Chesapeake Energy, (CHK) which plunged 14% after reporting a quarterly loss. More...

May-03 -- Natgas futures end down 5 percent after Centaurus news
Arnold has still been one of the most successful hedge fund stars of the last decade.
The fund gained fame after betting against Amaranth Advisors LLC, a hedge fund that collapsed in 2006 after losing $6.6 billion on bad bets in the natural gas market. More...

May-03 -- California named worst state for business in magazine survey
In Chief Executive magazine's eighth annual survey of CEO opinion of Best and Worst States in Which to do Business , Alabama moved up five spots to 21, and Mississippi scored a big gain by coming in at number 30, moving up eight places on the list.
Texas has been top-ranked every year. More...

May-03 -- Carlyle set to drop IPO price
Knowing how to gauge market sentiment may help Carlyle pull off the sale, said Richard Marin, head of mortgage restructuring firm Ironwood Global LLC and the former chief executive officer of Bear Stearns Asset Management.
FORTUNE -- Yesterday we wrote about how The Carlyle Group has received annual "valuations" from the California Public Employees' Retirement System (CalPERS), ever since selling a 5.5% equity stake to the pension system in 2001. More...

May-03 -- Chrysler Says Four Plants to Skip Midyear Output Breaks
Tinson said the following U.S. plants will continue to work through the summer: the Jefferson North Assembly plant in Detroit, builder of the Dodge Durango and Jeep Grand Cherokee; the Belvidere Assembly Plant in Belvidere, Ill., builder of Dodge Dart , Jeep Compass and Jeep Patriot; and Toledo Supplier Park, maker of the Jeep Wrangler and Wrangler Unlimited.
Usually, automakers close plants around the July 4 week to update cars for the new model year and to preform machinery maintenance. More...

May-03 -- CVS Caremark Wants To Fill Medicare's Doughnut Hole With Profits
Walgreen, the nation's largest drugstore chain stopped filling prescriptions for Express Scripts, the biggest pharmacy benefits manager, at the end of 2011, when a contract between the two companies ran out.
We saw the net interest expense in the quarter decline by approximately $2 million to $132 million versus last year. More...

May-03 -- Debt Inequality Has Dramatically Risen Since 1983: Report
The wealthier slice of society has done very well in the stock market and in earnings in recent decades.
More...

May-03 -- Zillow Surges on Earnings Beat, Acquisition
May 2, 2012 (GlobeNewswire via COMTEX) -- -- Record Revenue of $22.8 million, up 103% over first quarter 2011, marking sixth consecutive quarter of over 100% year-over-year revenue growth. -- Record Marketplace Revenue of $16.6 million, up 141% over first quarter 2011. -- Record Quarterly Net Income of $1.7 million, resulting in EPS of $0.06. -- Record Quarterly Adjusted EBITDA of $5.4 million, representing 24% of revenue. -- Record usage across mobile and Web as homes viewed on mobile devices exceeded the Web for the first time. -- Zillow(R) entered into a definitive agreement to acquire RentJuice Corporation, a leading provider of rental relationship management software for landlords, property managers and rental brokers, announced separately today.
To boost its new push into the rental marketplace, Zillow's paying $40 million for Rent Juice, a San Francisco company that makes software that landlords use to manage their properties. More...

May-03 -- TREASURIES-Bonds rise on weak US, European data
The pattern of weaker-than-expected U.S. economic data and consequent lower yields on the last day of the month was the narrative in a nutshell for the U.S. Treasury market all month.
The problem that we are dealing with at the present time is that the United States is experiencing an inflow of funds from the rest of the world due to a "flight to quality" coming from the continent of Europe. More...

May-03 -- Fed's Lacker Says May Need To Raise Rates In 2013
Federal Reserve Bank of Richmond president Jeffrey Lacker said that more monetary stimulus risks stoking inflation while doing little to strengthen the recovery.
The president of the Federal Reserve Bank of Richmond offered what he termed a "mildly, cautiously optimistic forecast" about the economy in a speech Wednesday in Norfolk. More...

May-03 -- Dollar-Funding Costs Drop As Market Awaits Next ECB Move
Sudan's industry minister announced his resignation on Tuesday after the opening of Africa's biggest sugar factory was postponed, which he blamed on U.S. economic sanctions, AFP reports.
That lack of options puts more urgency into ECB president Mario Draghi's recent call for Europe to agree on a "growth compact" to find a lasting path to recovery, and more pressure on eurozone governments to fix budgets and cut burdensome regulation. More...

May-03 -- IBM to Buy Tealeaf Technology for Online Shopping Software
Tealeaf Technology is a provider of customer experience analytics software that helps organizations to gain intelligence and react more swiftly to consumer trends in today's digitally transformed marketplace, the company said.
Tealeaf's technology will add analytics for clients who want real-time and automated insights into online customer buying experiences across online and mobile devices. More...

May-03 -- OIL FUTURES: Crude Drops As US Oil Stocks Hit 22-Year High
The national average Tuesday was $3.809, 12 cents below the average recorded one month ago and 13 cents cheaper than that of May 1, 2011.
The Energy Department's Energy Information Administration also reported on Wednesday that U.S. oil supplies grew slightly more than expected last week, while demand fell nearly two per cent. More...

Wednesday

May-02 -- Occupy movement returns for May Day protests in DC, New York and around US
After several hours of protest in midtown Manhattan, the protesters left Bryant Park for Union Square, where Mr. Morello and others planned to perform.
The U.S. protests were the most visible organizing effort by anti-Wall Street groups since the movement's encampments were dismantled last fall. More...

May-02 -- China Shares Rise On Higher PMI, Lower Trading Fees
"We still don't think, fundamentally, anything has changed."
The gauge for the Hang Seng China Enterprises Index ( HSCEI ), which tracks Chinese stocks trading in Hong Kong, has declined to 8.4 times from 10.6 a year earlier. More...

May-02 -- Pfizer Races to Reinvent Itself
Generic competition for Pfizer Inc.' s blockbuster cholesterol pill Lipitor is starting to cut into the bottom line of the world's biggest drugmaker, as expected.
Analysts had expected production to fall to 3.457 million barrels of oil equivalent per day. More...

May-02 -- Dow Jones average hits highest mark since '07
Jacobs Engineering Group Inc. fell 5.2 percent to $41.57.
Here's what the Commerce Department reported: Personal income in the U.S. rose 0.4 percent in March, and spending rose by a similar amount, 0.3 percent. More...

May-02 -- PF Chang's to go private in $1.1 billion deal
P.F. Chang's China Bistro Inc. said Tuesday that it has agreed to go private in a $1.1 billion deal with equity firm Centerbridge Partners L.P. of New York.
Centerbridge's bid is valued at about 8.5 times P.F. Chang's $133 million Ebitda for the trailing 12 months ended Jan. 1, and is not that far off what other chains have been selling for recently. More...

May-02 -- China HSBC Manufacturing PMI 49.3 in April Vs Preliminary 49.1
The RBC Canadian Manufacturing Purchasing Managers' Index, released on Tuesday, rose to a reading of 53.3 in April versus 52.4 in March, above the 50 no-change mark that separates expansion from contraction.
The HSBC Flash PMI, the earliest indicator of China's industrial activity, showed a stabilizing economy last week. More...

May-02 -- Fed presidents: Too soon to call a US slowdown
Federal Reserve Bank of Atlanta President Dennis Lockhart and Chicago's Charles Evans disagreed over whether policy makers should let inflation rise to 3 percent as they try to spur growth.
Charles Plosser, CEO of the branch, said during a luncheon for the Chartered Financial Analysts Society of San Diego that the U.S. economy should grow by 3 percent year-over-year in 2012 and 2013. More...

May-02 -- Chesapeake to Replace Chairman
Chesapeake Energy founder Aubrey McClendon was stripped of his chairman's role Tuesday in response to shareholder complaints that his personal business interests could conflict with those of the company he runs.
All's not well at Chesapeake Energy. More...

May-02 -- Struggling Hedge Fund Under a Cloud
Hedge fund house Man Group has suffered outflows of $1billion (£616.6 million).
Clarke's comments come as Man said client withdrawals had slowed to a net $1 billion in the three months to March 31. More...

May-02 -- Oil turns higher on strong US factory growth
SINGAPORE, May 1 (Reuters) - Brent crude held steady above $119 a barrel on Tuesday as China's manufacturing activities grew, providing a bright spark amid a gloomier economic outlook in the euro zone and the United States that could depress fuel demand.
The Brent-U.S. crude spread CL-LCO1=R narrowed 30 cents to $14.60 based on settlements, after Brent's premium reached $15.37 intraday. More...

May-02 -- CBS Corp. reports first-quarter earnings rose 80%
CBS profit surged 80% last quarter as the bucks rolled in from digital streaming deals and syndication.
During the quarter, the Company repurchased 9.0 million shares of CBS Corp. Class B Common Stock for $269 million, at an average cost of approximately $30 per share. More...

May-02 -- Auto industry bolsters manufacturing sector
GM's sales fell 8.2 percent to 213,387 vehicles in April.
Marchionne, 59, said today in an interview with Detroit radio station WJR-AM that the Auburn Hills, Michigan- based automaker's Dart compact will begin arriving in dealerships in June. More...

May-02 -- Mortgage Aid Programs Were Halted, Papers Show
Cummings and Representative John Tierney of Massachusetts said in the letter to FHFA Acting Director Edward DeMarco that a former Fannie Mae employee had told congressional staff that executives at the mortgage giant canceled "at the 11th hour" the launch of a pilot program to reduce loan balances for troubled borrowers in 2010, despite months of preparation and deliberation to test the success rate of principal forgiveness.
The new documents contradict DeMarco's congressional testimony in November that analyses by Fannie and Freddie concluded other forms of homeowner assistance were less costly to taxpayers, the lawmakers said. More...

May-02 -- Herbalife shares plunge after questions by David Einhorn
May 1 (Bloomberg) -- Herbalife Ltd., a maker of nutritional supplements, dropped 20 percent after hedge-fund manager David Einhorn asked why it has stopped providing information about distributors in filings.
Herbalife's shares are being oversold after Einhorn asked several pertinent questions on the conference call. More...

May-02 -- Wynn Macau Receives Approval for Cotai Development
Wynn already operates another casino on peninsular Macau.
Current opposition cites traffic congestion and the effect on property values as the main concerns. More...

May-02 -- Digital gains lift Sun-Times past Tribune in weekday circulation
Digital subscriptions helped the U.S. newspaper industry bump up its overall circulation by.68 percent, and its Sunday circulation by 5 percent, for the six-month period that ended on March 31, 2012, according to the latest data from the Audit Bureau of Circulations, released this morning.
Sunday growth is probably due in part to the popularity of money-saving coupon deals in the Sunday newspaper that can save readers $100 or more, Observer publisher Ann Caulkins said. More...

May-02 -- New York City pension funds to vote against Wal-Mart directors
Wal-Mart de México's stocks fell by a total of 15.46% on the Bolsa Mexicana de Valores (BMV, the Mexico City stock market) from April 23 through April 24 following a report in the New York Times that the company's US-based owner, Wal-Mart Stores, Inc., had covered up a major bribery scandal in 2005.
As the company opened more stores, it spent less on decor and equipment to lower capital costs, the people said. More...

May-02 -- Genworth Financial Q1 Results Miss View; CEO Michael Fraizer Resigns
The holding company has $222 million of debt maturities in June 2012 and no debt maturities in 2013.
The Company's consolidated financial statements are prepared in accordance with IFRSs. More...

May-02 -- Bolivia Following Argentine Takeover Deepens Regional Divide
LIMA, Peru -- Bolivia's army occupied the installations of the country's electricity grid Tuesday after President Evo Morales nationalized the Spanish-owned company that runs it.
Transportadora de Electricidad serves 85 percent of the Bolivian power market. More...

May-02 -- Pep Boys deal appears to be sputtering
Gores Group said that it notified Pep Boys management on April 26 that it may try to cancel the buyout if a review of the company's finances shows that diminished sales and profitability counted as a violation of their January merger agreement.
The 90-year-old auto parts chain agreed to be bought by private equity firm Gores for $791 mil, or $15 a share, in cash. More...

Tuesday (Update 2)

May-02 -- US STOCKS-Dow hits 4-year high, lifted by ISM factory data
Stocks and the dollar rallied on Tuesday after data showed U.S. manufacturing grew in April at the strongest pace in 10 months, soothing recent worries about the economy.
Hologic Inc., a maker of diagnostic medical and surgical devices, agreed to buy the company for about $3.7 billion in cash to expand its tests for sexually transmitted diseases. More...

May-02 -- Stinging gas sends May Day protesters fleeing
Many demonstrators wore black bandanas symbolic of an anarchist faction within the largely peaceful Occupy movement, leading to some of the confrontations with police.
The Occupy Wall Streeters are baaack! They have been named as suspects in the mailing of seven powder-filled letters and have announced plans for traffic-snarling protests to mark May Day. More...

May-02 -- US auto sales continue at strong pace
Lexus Division trucks sales were lower by 11 percent at 8,110 units.
Chrysler, which reported a 20% jump in April sales earlier, is controlled by Italian carmaker Fiat Group . More...

May-02 -- US economy shows resilience as manufacturing grows at fastest pace in 10 months
Much of the strength that has emerged on Wall Street stems from the release of a report from the Institute for Supply Management showing that activity in the U.S. manufacturing sector unexpectedly expanded at a faster rate in the month of April.
Economic activity in the manufacturing sector expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. More...

May-02 -- PF Chang's To Be Bought By Private Firm As Profit Falls
P.F. Chang's China Bistro Inc., the biggest Asian full-service restaurant operator in the U.S. by market share, agreed to be taken private by Centerbridge Partners LP in a deal valuing the company at $1.1 billion.
Centerbridge will begin a tender offer for P.F. Chang's shares no later than May 15. More...

May-02 -- OIL FUTURES: Manufacturing Data Sends Crude To One-Month High
SINGAPORE, May 1 (Reuters) - Brent crude held steady above $119 a barrel on Tuesday as China's manufacturing activities grew, providing a bright spark amid a gloomier economic outlook in the euro zone and the United States that could depress fuel demand.
Coming up: API oil data 4:30 p.m. EDT Tuesday (Recasts, updates prices to settlement) By Robert Gibbons NEW YORK, April 30 (Reuters) - Oil prices edged lower on M onday in tug-of-war trading as Spain's fall into recession and slowing U.S. Midwestern business activity countered supportive expectations for more Federal Reserve action to stimulate a sluggish U.S. economy. More...

May-02 -- Motorola Mobility's loss widens in Q1
The company, which reported a slightly larger net loss than it did in the year-ago period, is still waiting for Google's ( NASDAQ:GOOG ) $12.5 billion purchase of the company to get approved by Chinese regulators before the deal closes.
Analysts polled by Thomson Reuters expected a per-share profit of a penny and revenue of $2.96 billion. More...

May-02 -- Chesapeake Energy First-Quarter Loss Narrows to $71 Million
Founder, CEO and current Chairman Aubrey McClendon has come under fire as it was revealed he has racked up personal loans of up to $1.1 billion, secured by his stakes in thousands of wells Chesapeake has drilled under their very unique "Founders Well Participation Program."
The two actions "should send a positive signal to the market and improve shareholder value," Miller said. More...

May-02 -- Debit-Card Fees Higher At Small Banks Than at Big Banks
Transactions using debit cards issued by banks with less than $10 billion in assets, as well as some prepaid debit cards, are exempt from the cap.
The banking industry said that time will tell on the rule, warning that market forces will eventually make the rule a bad deal for not only small banks, but consumers as well. More...

May-02 -- CBS Profit Surges 80% as Licensing, Fees Jump
Net earnings were $363 million for the first quarter of 2012, or $.54 per diluted share, up from $202 million, or $.29 per diluted share, for last year's first quarter, reflecting the operating income growth as well as lower weighted average shares outstanding as a result of the Company's share repurchase program.
CBS profits surged 80% to $363 million last quarter on content licensing and distribution led by digital streaming deals and syndication sales. More...

May-02 -- Broadcom 1Q Net Down 61% On Higher Expenses, Weaker Margins
The company said first-quarter revenue rose slightly to $1.827 billion from $1.816 billion.
The average estimate for the second quarter is 40 cents per share, up from 39 cents ninety days ago. More...

May-02 -- Pep Boys shares fall sharply as Gores Group casts doubt on buyout
Gores Group said that it notified Pep Boys management on April 26 that it may try to cancel the buyout if a review of the company's finances shows that diminished sales and profitability counted as a violation of their January merger agreement.
The chain of 730 repair shops and auto parts stores said Tuesday revenue in the quarter ended April 28 was between $524 million to $526 million, vs. analyst forecasts for $558.3 million. More...

May-02 -- Pfizer says on lookout for mid-size drug deals
Generic competition for Pfizer Inc.' s blockbuster cholesterol pill Lipitor is starting to cut into the bottom line of the world's biggest drugmaker, as expected.
Analysts had expected production to fall to 3.457 million barrels of oil equivalent per day. More...

May-02 -- Fed's Plosser-letting inflation top target has costs
Federal Reserve Bank of Atlanta President Dennis Lockhart and Chicago's Charles Evans disagreed over whether policy makers should let inflation rise to 3 percent as they try to spur growth.
Additional purchases would reaffirm the Fed's "commitment to get the economy going," Chicago Fed President Charles Evans, a policy dove, said on CNBC television. More...

May-02 -- Man investors vote with their feet
Hedge fund house Man Group has suffered outflows of $1billion (£616.6 million).
Clarke's comments come as Man said client withdrawals had slowed to a net $1 billion in the three months to March 31. More...

May-02 -- Dow Closes At A 4-Year High
Dow Jones Indexes (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time.
Sales at Chrysler spiked 20%, making it the best April since 2008 for the automaker, which is owned by Fiat. More...

May-02 -- When Fannie and Freddie Met Eddie
Cummings and Representative John Tierney of Massachusetts said in the letter to FHFA Acting Director Edward DeMarco that a former Fannie Mae employee had told congressional staff that executives at the mortgage giant canceled "at the 11th hour" the launch of a pilot program to reduce loan balances for troubled borrowers in 2010, despite months of preparation and deliberation to test the success rate of principal forgiveness.
During a recent speech at the Brookings Institution, DeMarco said the FHFA's recent reexamination of reducing mortgage principal for underwater borrowers could save upward of $1.7 billion under a plan put forward by the Treasury Department as part of HAMP. He argued that even if the agency chooses to move forward, reducing principal would affect fewer than 1 million homeowners, a fraction of the estimated 11 million who are underwater on their loans nationwide. More...

May-02 -- Bolivia nationalizes Spanish-owned power company
Bolivia is nationalizing the local unit of Spain's Red Electrica, President Evo Morales said on Tuesday, a move that could further widen the breach between foreign investors and the South American country.
The company owned 74 percent of Bolivia's electrical transmission network, or 1,720 miles (2,772 kilometers) of high voltage lines. More...

May-02 -- You can be Sirius: Satellite radio is a good bet
Things are going well at Sirius XM Radio , which recorded revenue gains of 11% and Ebitda growth of 15% in the first quarter of 2012.
Revenue climbed 11% to $804.7 million, ahead of the $803.8 million that analysts were targeting. More...

May-02 -- Wells Fargo To Pay Over $2.7 Million ETF Fine and Restitution
The Financial Industry Regulatory Authority has sanctioned units of Citigroup Inc., Morgan Stanley, UBS AG and Wells Fargo & Co. more than $9.1 million for allegedly improper sales of leveraged and inverse exchange-traded funds.
The Financial Industry Regulatory Authority has sanctioned four large financial firms with a total of $9.1 million in fines and restitution for not having adequate supervisory systems in place for billions of dollars of sales of leveraged and inverse exchange-traded fund products. More...

Tuesday

May-01 -- Delta Air Lines buys a refinery in hopes of cutting its fuel bill
Delta's Monroe Energy Llc. subsidiary will spend $100 million on changes to the refinery to maximize the production of jet fuel.
More...

May-01 -- Euro Is Near 2-Week Low Versus Yen Before Spain Auction
The euro was within 0.3 percent of a two-week low against the yen before Spain sells notes this week amid concern Europe 's debt crisis is hurting economic growth.
More...

May-01 -- Energy Transfer Partners to buy Sunoco for $5.3 billion
When supplies grow and storage facilities fill up as is the case with U.S. natural gas there's less of a need to transport the fuel, and that means lower revenue for the pipeline company.
More...

May-01 -- Subtle Clues Can Matter When A Stock Marks A Turn
The captain knew the shoal was one of the Mississippi's.
The Nasdaq's action matched the definition of stalling: Heavier volume without price progress. More...

May-01 -- Accretive Health fires back against allegations
"Our EMTALA obligations include a Medical Screening Exam, which is not to be delayed for reasons associated with payment considerations," the Fairview attorney wrote in an email included in Swanson's report.
More...

May-01 -- NYSE boss says high-frequency firms on the move
Niederauer said lower volatility, lower overall volume and increased diversification by the high-frequency community into other asset classes and geographies were all cutting into high-frequency trading volume.
More...

May-01 -- Filing signals Sears' intent to spin off hardware, outlet stores
Aiming to raise up to $500 million in liquidity for the struggling retailer, Sears Holdings Corp.filed registration documents Monday with the Securities and Exchange Commission indicating it plans to spin off its hardware and outlet stores.
Sears said it expects the shares to trade under the ticker SHOS on the Nasdaq exchange. More...

May-01 -- Google faces lawsuit over its stock-split plan
Google announced the stock split plan in early April, in which shareholders would get 1 new share of non-voting "Class C" stock for each existing "Class A" share.
Under the reclassification, all shareholders will receive a dividend of new, non-voting Class C stock in what amounts to a 2-for-1 stock split, according to the complaint. More...

May-01 -- Fed officials, hawk and dove, agree: no more easing
BEVERLY HILLS, Calif. (Dow Jones)--Although he believes the Federal Reserve has already provided too much stimulus to the economy, a veteran central banker said Monday now is not the time to start calling for a tightening in monetary policy.
LOS ANGELES, April 30 (Reuters) - The U.S. Federal Reserve should not ease monetary policy further, but it is not yet time to begin raising interest rates, a top Fed official known for his hawkish views on inflation said on Monday. More...

Monday (Update 2)

May-01 -- B&N, Microsoft team up on Nook, college businesses
Under the deal announced early on Monday, Microsoft will take a 17.6 percent stake in a new Barnes & Noble unit combining the bookseller's college bookstore and Nook businesses.
At the time, Microsoft wrote it had "no choice but to bring legal action to defend our innovations and fulfill our responsibility to our customers, partners, and shareholders to safeguard the billions of dollars we invest each year to bring great software products and services to market." More...

May-01 -- Spain in Recession, Braces for Protests
The euro weakened for a third day against the yen after a report showed Spain's economy entered its second recession since 2009, adding to concern Europe's debt crisis is worsening.
The euro, however, has not closed below $1.30 or above $1.35 since January 20. More...

May-01 -- Occupy calls for 'a day without the 99%'
The Occupy Wall Street movement is orchestrating what its supporters hope will be a nationwide general strike with students, workers and everyone who is an employee skipping work.
As the labor movement joins forces with Occupy protesters for May Day, some worry that an escalation of illegal activity which was indicative of last year's Occupy rallies will ensue. More...

May-01 -- Coke Denies It Is in Talks to Buy Monster Beverage
The Coca-Cola Co. ( NYSE ]] NYSE : KO) is in talks to buy energy drink maker Monster Beverage Corp. (Nasdaq: MNST), an $11.6 billion company whose shares rocketed more than 20 percent Monday, in what would be Coca-Colas largest acquisition, the Wall Street Journal reported.
Shares of Monster Beverage Corp. (MNST) soared briefly Monday on a report that Coca Cola (NYSE: KO) is in talks to purchase the flourishing energy drink company. More...

May-01 -- Delta Pulls The Trigger On Purchase Of Philly Refinery From Phillips 66
Delta is paying $150 million, including $30 million in job-creation assistance it expects to get from the state of Pennsylvania.
After receipt of $30 million in state government assistance for job creation and infrastructure improvement from the Commonwealth of Pennsylvania, Monroe's investment to acquire the refinery will be $150 million, and Monroe will spend $100 million to convert the existing infrastructure to maximize jet fuel production, the Delta Air said. More...

May-01 -- US STOCKS-Slowing economy drives S&P down in April
LONDON -- The Dow Jones Industrial Average and the S&P 500 look set for a muted start, with pre-market trading suggesting a 12-point fall for the Dow.
At 1100 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,049.96 points, after reversing early gains. More...

May-01 -- Crude Ends Flat Above $104
At 7:53 a.m. on Monday, crude oil futures fell 0.44 percent, a 53 cent drop to $119.30 per barrel.
For the month, front-month heating oil gained 1.23 cents, or 0.4 percent, rebounding from a small loss in March. More...

May-01 -- Home loan demand rises, but credit standards remain tight
U.S. banks saw increased demand for lending in the first quarter and made loans easier to get, according to a Federal Reserve survey.
A quarterly survey of senior loan officers by the Federal Reserve, released Monday, found that business lending, or commercial and industrial loans, was enjoying increased demand - and greater competition among banks. More...

May-01 -- Groupon Adds AmEx's Henry, Deloitte's Bass to Bolster Board
New to the board: American Express CEO David Henry and Deloitte vice chairman Robert Bass.
Mr. Mason received no bonus last year. More...

May-01 -- US consumer spending slowed in March, income rose
A separate report on showed that consumer spending rose 2.9 percent during the first three months the year, the fastest pace since the final quarter of 2010.
The government reported last week that the U.S. economy grew by 2.2 percent in the first three months of the year, after advancing at a more robust 3 percent pace in the last quarter of 2011. More...

May-01 -- Berlin insists on eurozone austerity
BERLIN (REUTERS) - German Chancellor Angela Merkel added her voice on Saturday to calls to bolster the European Investment Bank (EIB) and to use European Union (EU) infrastructure funds more flexibly to help spur economic growth in Europe.
Confronting Merkel, Socialist French presidential candidate François Hollande has said 'let's renegotiate' the discipline deal, proposing euro-zone bonds, unused EU convergence funds and a financial transaction tax as sources to boost growth in the bloc. More...

May-01 -- CafePress moving HQs to Louisville
This agreement represents a commitment for $16.5 million in investment by CafePress to expand the existing 140,000 square foot production facility by an additional 185,000 square feet, and a plan to create 592 new full-time jobs in Kentucky over the next 10 years.This agreement will also bring the company's global headquarters to Louisville and cement an ongoing positive relationship between the company and the great state of Kentucky.
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May-01 -- Chrysler boosts Jeep output, speeds new 1100 jobs
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DETROIT, MI- The historic Dime Building in downtown Detroit will now be known as " Chrysler House," according to officials. More...

May-01 -- SolarCity makes IPO plans
SolarCity, a San Mateo company that develops rooftop solar power systems and is chaired by Tesla founder Elon Musk and his cousins, is planning to go public.
SolarCity was founded in 2006 by brothers Lyndon Rive, chief executive officer, and Peter Rive, chief operations and technology officer. More...

May-01 -- Books-a-Million shares jump on offer
Executive Chairman Clyde Anderson and other family members currently have about a 53 percent stake in the company.
Shares of Books-A-Million Inc. jumped 21 percent Monday, after the family that controls the bookseller offered to buy the rest of its shares for about $22.9 million in deal that would make it a private company. More...

May-01 -- Don't believe the headlines. Wind farms do not cause 'global' warming.
The study, published in Nature Climate Change , analysed temperature changes around large wind farms in Texas, over the period from 2003 to 2011.
Capacity is expected to reach nearly 500 gigawatts by the end of 2016 as more turbines are built, according to the Global Wind Energy Council. More...

May-01 -- TEXT-S&P cuts Hologic rating to 'BB'
Based on Gen-Probe's approximately 45 million outstanding shares, the deal is worth about $3.72 billion.
Analysts expect the company to report earnings of $1.38 per share on revenues of $1.92 billion for fiscal 2012. More...

May-01 -- Sunoco bought by Energy Transfer Partners for $5.3 billion
The energy transportation and distribution company Sunoco agreed Monday to be sold to Energy Transfer Partners, a pipeline operator, for $5.3 billion, in the latest deal in America's fast-expanding oil and natural gas industry.
The pipeline operator said it will buy Sunoco Inc for $5.3 billion in stock and cash to get into the more lucrative crude oil transportation business as natural gas prices stay weak. More...

May-01 -- Clive, the entertainer, refloats his political boat
File photo. (Universal History Archive/Getty Images) (LONDON) -- An Australian billionaire has revealed plans to build a replica of the Titanic cruise ship, with plans to set it sail along the original sunken ship's path from England to New York.
Mr Palmer said the rebuild was a tribute to the spirit of the men and women who constructed the original Titanic. More...

May-01 -- Warner Chilcott Says It's in Talks With Potential Buyers
After the company's most recent secondary stock offering, last year, the remaining buyout firms together owned about 30 percent of the stock, Warner Chilcott said in a regulatory filing in February.
Warner Chilcott declined to comment on the Bayer rumor. More...

Monday (Update 1)

Apr-30 -- Barnes & Noble's shares soar on Microsoft Nook investment
The e-book wars added a new alliance, the Microsoft-Barnes & Noble joint venture, DealBook reported on Monday.
There's even mention in the press release of extending Nook content to lots of MS customers "internationally," which is good for B&N because while Amazon's been gently expanding the Kindle around the world, the Nook has remained mainly American. More...

Apr-30 -- Consumer Spending in U.S. Increased in March as Incomes Rose
Incomes advanced 0.4 percent, the most in three months, and the savings rate rose.
The February personal income figures were revised up from the 0.2 percent growth rate initially reported. More...

Apr-30 -- Energy Transfer Partners to Buy Sunoco for $5.3 Billion
Sunoco Inc, the 126-year-old Philadelphia oil company that is in the process of exiting the refining business, is being acquired for $5.3 billion by Energy Transfer Partners, L.P., a Dallas pipeline company.
The offer represents a 22.5-per-cent premium to Sunoco's Friday close of $40.91 on the New York Stock Exchange. More...

Apr-30 -- Weak economic reports weigh on US stocks
LONDON -- The Dow Jones Industrial Average ( INDEX: ^DJI ) and the S&P 500 look set for a muted start, with pre-market trading suggesting a 12-point fall for the Dow.
U.S. stocks futures were mainly unchanged, hinting at a flat start as Wall Street treads with caution ahead of all important job data for April even as avalanche of corporate earnings results continue on Monday. More...

Apr-30 -- Brazil's Real Opens Weaker As Spanish News Saps Risk Appetite
FRANKFURT (Reuters) - Banks in Italy and Spain stuffed their coffers with government bonds last month, European Central Bank data showed on Monday, in the latest sign they have been using ultra-cheap three-year ECB funds to stock up on sovereign debt.
Relative monetary policy has been a key driver of FX policy in recent weeks. More...

Apr-30 -- Gasoline falls for 10th straight day; oil, natural gas prices stay flat
After dropping for almost a month, the average price for a gallon of gas is currently $3.82.
A year ago Sunday, regular in Denver cost $3.609 a gallon. More...

Apr-30 -- NYSE CEO Sees High-Speed Firms Heading For Dark Pools
NEW YORK (AP) -- NYSE Euronext said Monday that its first-quarter earnings tumbled 44 percent on weaker trading and its failed combination with Deutsche Boerse AG. The owner of the New York Stock Exchange reported its net income fell to $87 million, or 34 cents per share, for the January-March period from $155 million, or 59 cents per share, a year earlier.
European regulators blocked NYSE Euronext from merging with Deutsche Boerse AG in February, frustrating plans to mitigate a slowdown in stock trading and boost earnings and sales through cooperation on derivatives. More...

Apr-30 -- Apple's 9.8% Tax Rate: New York Times Ignorance Again
According to The New York Times, Apple also has "subsidiaries in low-tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands - some little more than a letterbox or an anonymous office - that help cut the taxes it pays around the world.
The California state legislature has passed four tax breaks aimed at tech companies since the mid-1990s the most recent, which Apple lobbied for itself, will cost the already-crunched state government $1.5 billion a year. More...

Apr-30 -- Emerging markets hold breath as EU banks shrink
Since December, the European Central Bank has been aggressively lending to them, but with bank regulation remaining the province of national governments, it lacks the clout to force reforms the Federal Reserve enjoys when doling out aid.
The pound is experiencing demand as reports of Spain demotion by Standard and Poor's was released and reports from U.S. showed that the U.S. economy slowed in the last quarter. More...

Apr-30 -- CANADA FX DEBT-C$ slides after weaker-than-expected GDP
Mr. Carney's repeated hints over the past couple of weeks are based on the central bank's projection that slack in the economy is disappearing more quickly than anticipated.
Emerging market economies also account for one-half of the growth in global imports. More...

Apr-30 -- Anderson Family to Take Books-A-Million Private
Executive Chairman Clyde Anderson and other family members currently have about a 53 percent stake in the company.
More...

Apr-30 -- Hologic to buy Gen-Probe for about $3.72 billion
Diagnostics revenues, which include the Company's ThinPrep products, Rapid Fetal Fibronectin test, Cervista HPV tests, and other molecular diagnostics products, totaled $151.8 million in the current quarter compared to $138.2 million in the prior year, an increase of 9.8%.
Bedford-based Hologic Inc., a developer and maker of diagnostic products and medical imaging systems designed primarily for women, said it has agreed to buy Gen-Probe Inc. for $3.7 billion as part of a plan to create a diagnostics franchise focused on women's health. More...

Apr-30 -- Euro lending growth slows, banks spend ECB cash on bonds
Growth in loans to households and companies weakened in March, the ECB said today.
The slowdown is of particular concern given that, in two special measures in December and February aimed at averting a credit squeeze in the 17-nation eurozone, the ECB lent more than 1.0 trillion euros ($1.3 trillion) to banks at a rock-bottom rate of 1.0 percent for a period of three years. More...

Apr-30 -- Humana 1Q Profit Falls 21% As Costs Rise
LOUISVILLE, Ky. - Humana Inc. said Monday that its first-quarter profit fell 21 per cent as the health insurer paid out more in claims and bolstered operational spending to handle continued strong growth in its lucrative Medicare Advantage membership.
In the first quarter, the company's net income declined to $248 million or $1.49 per share from $315 million or $1.86 per share in the previous year. More...

Apr-30 -- Hong Kong stock exchange operator mulls bid for London Metal Exchange
The LME received preliminary bids from CME, NYSE Euronext and IntercontinentalExchange Inc., three people with direct knowledge of the matter said in February.
MTR also expanded operations to London, Stockholm and Melbourne, and reported a 21 percent increase in underlying profit for 2011 from a year earlier. More...

Apr-30 -- The Sun Is Setting on LDK Solar As Losses Mount
The following statements are based upon managements current expectations.
Delayed fourth quarter and full-year results at LDK Solar show the full extent of the challenges facing the integrated PV manufacturer. More...

Apr-30 -- COLUMN-Austerity has brought Europe to the brink again -Summers
"What is most present in my mind now is to have a growth compact."
None of which is to minimize the fundamental challenges ahead for Europe, where frictions are mounting over the wisdom of the prevailing orthodoxy of fiscal austerity aimed at bringing down government debt loads. More...

Apr-30 -- Loews 1Q Net Down 3.2%; CNA Financial Profit Jumps 14%
Net investment income at Loews increased to $726 million from $661 million, a year ago.
For the first quarter of 2012, catastrophe losses were $18 million after-tax as compared to $36 million after-tax for the same period in 2011. More...

Apr-30 -- LyondellBasell 1Q Net Down 15% On Weakness In Europe
Three months ended March 31, 2012 versus three months ended December 31, 2011 - Refining & Oxyfuels segment EBITDA increased $302 million versus the fourth quarter 2011.
Olefins results increased compared to the prior year period, largely as a result of significantly improved margins. More...

Apr-30 -- Watson profit tops Wall Street estimate
For the latest quarter, the company's net revenues totaled $1.52 billion, up 74 percent from $876.5 million a year ago, while 18 analysts estimated revenues of $1.48 billion for the quarter.
Watson Pharmaceuticals entered into a definitive agreement to acquire Actavis for an upfront payment of Euro 4.25 billion. More...

Monday

Apr-30 -- Asian stock markets rise as hopes for Federal Reserve bond-buying grow
Post Forum members consistently offer thought-provoking, timely comments on politics, national and international affairs.
U.S. stock markets rose Friday despite a report that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. More...

Apr-30 -- National Australia Bank cuts 1400 U.K. jobs
MELBOURNE (Reuters) - National Australia Bank will cut 1,400 jobs in the UK and take charges of $740 million (454.4 million pounds) after deciding it was too hard to sell or expand its UK banking business in a depressed market, it said on Monday as it flagged a record first-half cash profit.
Chief executive Cameron Clyne said the UK business would be simplified to adapt to the weak economic conditions there and improve returns for NAB in the medium term. More...

Apr-30 -- Spain in Talks Over 'Bad Bank' Scheme
Tens of thousands of people across Spain have protested against education and healthcare spending cuts as the country slid into its second recession in three years.
The bleak news followed a downgrade of Spain's debt rating to BBB+ by the ratings agency Standard & Poors. More...

Apr-30 -- No End in Sight to Global Jobs Crisis: UN Agency
WASHINGTON, Apr 29, 2012 (IPS) - Although economic growth has resumed in much of the world since the 2008 financial crisis, the global unemployment situation remains alarming and could worsen, according to the International Labour Organisation (ILO).
GENEVA (Reuters) - Fiscal austerity and tough labour reforms have failed to create jobs, leading to an "alarming" situation in the global employment market that shows no sign of recovering, the International Labour Organization said. More...

Apr-30 -- China Eastern Airlines to Buy 20 Boeing Planes
China Eastern buys 20 Boeing 777s worth $6 billion Associated Press China Eastern Airlines Co. is buying 20 Boeing 777 jets worth nearly $6 billion while also selling five Airbus A340s to the U.S. plane maker because they're costlier to run, the Shanghai-based airline said Monday.
The Boeing deal is likely to reinforce European aerospace industry fears that the sector could be caught in a global trade war because several countries, including China, India and the U.S., object to the EU carbon scheme. More...

Apr-30 -- Report: Apple legally sidesteps billions in taxes
Apple's sales teams in high-tax countries sell on behalf of subsidiaries in low-tax countries, avoiding income taxes.
Apple has set up similar "offices" in other parts of the world, including Ireland, the Netherlands, Luxembourg and the British Virgin Islands, where taxes are low. More...

Apr-30 -- Haemonetics to Buy Some Pall Corporation Assets
PORT WASHINGTON, N.Y. -- Pall Corporation (NYSE:PLL) today announced it has entered into an agreement to sell certain assets of its blood collection, filtration and processing product lines to Haemonetics Corporation (NYSE:HAE) for approximately $550 million.
Haemonetics will gain Pall's manufacturing facilities, employing 1,300 workers, in Covina, Calif.; Tijuana, Mexico; Italy; and part of Pall's assets in Puerto Rico. More...

Apr-30 -- Nokia in talks to sell Vertu to Permira
LONDON (Reuters) - Cellphone maker Nokia is in advanced talks to sell its UK subsidiary Vertu to private equity group Permira, the Financial Times reported.
Following a similar move by Fitch Ratings last week, Standard & Poor's on Friday cut the rating for the Finnish mobile phone maker to "junk." More...

Apr-30 -- Transocean Rig Evacuated In Rio de Janeiro
BRASILIA, Brazil -- Rio de Janeiro's port captain says about 100 workers have been evacuated from a tilting oil platform in that city's bay.
The wider state of Rio is on track to receive at least $102 billion in investment over the coming two years, a 70 percent increase on the preceding two-year period. More...

Apr-30 -- U.S.-China talks may yield little major progress
The two-day dialogue beginning on May 3, to be attended among others by U.S. Secretary of State Hillary Clinton and Secretary of Treasury Timothy Geithner , will cover an array of contentious issues between the two major powers and large trade partners.
To help combat problems in China and around the globe, Obama recently announced the creation of the Interagency Trade Enforcement Center. More...

Apr-30 -- Reports: GM To Hold Talks With Isuzu On Acquiring 10% Stake
GM is also said to be sounding Isuzu out on jointly producing and selling commercial vehicles in Southeast Asian and South American countries, and developing compact trucks together.
Currently, Mitsubishi Corp. owns a 9.2 percent stake in Isuzu. More...

Apr-30 -- Warplanes from Intrepid through NY's canal locks
The Erie, Cayuga-Seneca and Oswego Canals opened Saturday and the Champlain Canal is set to open Sunday.
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Apr-30 -- Barron's Cover Story Wants To Tinker With The Dow So It Hides Stock Market ...
Apple, whose shares on Friday closed at $603, would overwhelm the index with a 26 percent weighting.
The Dow may not have surged as much as the S&P during dotcom bubble, but it was much more successful at providing a view of the economy than the S&P. Furthermore, by having a Dow underweight tech stocks, the existance of a bubble was more visible. More...

Apr-30 -- Auto Special: Netizen designs become VW reality at Beijing show
Only a few green car models are on sale in the showrooms.
Lian also says the 4.6-meter-long car features an ambient light system, lounge-like interior, wood and copper detailing, and rear-hinged rear doors. More...

Apr-30 -- New Hampshire, Maine, top list for student debt average; Vermont No. 6
PORTLAND, Maine-- Amid a national debate over legislation to prevent the student loan rate from doubling, a former Vermont college student living in Maine says she knows firsthand what the issue is all about.
Legislation in Congress to prevent the rate on federally subsidized student loans from doubling for one year passed in the House on Friday. More...

Apr-30 -- 'Prince Fouad' explains it all to you
The decision to cancel the deal has been welcomed inside Egypt, with the presidential candidate Amr Moussa arguing that it was a "natural step" given the corruption that tainted the agreement.
AMMAN — Egypt will resume supplying gas to Jordan from early May after the flow was disrupted by repeated attacks on its pipeline, a Jordanian government official said on Saturday. More...

Apr-30 -- Goldman's Jim O'Neill approached for BoE job: paper
LONDON (Reuters) - Goldman Sachs' Jim O'Neill has been approached by Britain's finance ministry as a possible candidate to be the next governor of the Bank of England, the Sunday Times reported.
Mr O'Neill, 55, has a strong background in economics and in 2001 coined the term BRICs, which is now widely used to refer to the growth markets of Brazil, Russia, India and China. More...

Apr-30 -- Blue House walking a lonely path on US beef imports
Thailand has temporarily suspended importing some types of beef from the U.S., following Washington's announcement that a dairy cow in California had been infected with mad cow disease.
If quarantine inspections are halted, Korea can still import U.S. beef but cannot distribute it to consumers. More...

Apr-30 -- Hon Hai Drops by Limit After Net Misses Estimates: Taipei Mover
Next up for workers' benefits will be a hospital and language schools, Gou said.
Foxconn Technology Group, which Hon Hai operates in China, treated 216 outstanding Chinese workers to a seven-day tour of Taiwan. More...

Apr-30 -- Trying to Shed Student Debt
People with degrees are relatively elite.
For all the talk of market fundamentals (Currents, 4/29), Mark Zandi ignores the fundamental change in the market fundamentals of college education. More...

Sunday (Update 2)

Apr-30 -- Apple responds to tax criticism by highlighting job creation
Apple's sales teams in high-tax countries sell on behalf of subsidiaries in low-tax countries, avoiding income taxes.
Apple's tax strategy has been two-fold. More...

Apr-30 -- Stay In Stocks Or Sell In May?
Starbucks Corp fell 5.3 percent to $57.43 and was one of the biggest percentage decliners on the Nasdaq 100 after the coffee chain operator reported results late on Thursday.
NEW YORK, April 26 (Reuters) - U.S. stocks added to gains in a late rally on Thursday, with the Dow rising 1 percent and the S&P 500 and the Nasdaq hitting session highs. More...

Apr-30 -- How a Non-Tablet Changed the Tablet Market
Amazon shares surged almost 15 percent, increasing the company's market value by more than $10 billion and boosting the stake of Chief Executive Jeff Bezos by almost $2.5 billion.
For the second quarter, Amazon forecasts a profit of $40 million, up from a loss of $260 million in the second quarter last year, on revenue of between $11.9 billion and $13.3 billion. More...

Apr-30 -- Pall Crop to sell some blood transfusion operations, equipment to Haemonetics ...
PORT WASHINGTON, N.Y. -- Pall Corporation (NYSE:PLL) today announced it has entered into an agreement to sell certain assets of its blood collection, filtration and processing product lines to Haemonetics Corporation (NYSE:HAE) for approximately $550 million.
The Pall business assets provide us with leading filter technology and manufacturing capability, a broad portfolio of manual collection and processing products, a strong and experienced employee base and relationships with major blood authorities and key customers we have in common. More...

Apr-30 -- Smartphones: Is Apple or Samsung No. 1?
Nokia shipped 82.7 million units in the first quarter.
S&P also has a negative rating outlook for Nokia, indicating the possibility of a downgrade in the next 12 months. More...

Apr-30 -- Spain in talks over 'bad bank' scheme
MADRID -- Tens of thousands of people across Spain protested Sunday against education and health care spending cuts as the country slid into its second recession in three years.
The bleak news followed a downgrade of Spain's debt rating to BBB+ by the ratings agency Standard & Poors. More...

Apr-30 -- Transocean evacuates Brazil rig, no oil spilled
Transocean Ltd. evacuated almost 100 workers from an offshore oil rig after it started tipping in Rio de Janeiro 's Guanabara Bay, Agencia Brasil reported, without saying where it got the information.
The incident occurred late Saturday in the Guanabara Bay and resulted in some water coming onboard the rig, the company said in a statement. More...

Apr-30 -- Government cuts slow economic recovery
Growth in the U.S. economy slowed to 2.2 percent in the first quarter from 3 percent at the end of last year, even as unusually mild winter weather gave a strong boost to consumer spending and car sales, the Commerce Department reported Friday morning.
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Apr-30 -- Seoul Puts Woori Up for Sale, Again
SEOUL South Korea put Woori Finance Holdings (053000.SE), the largest local financial holding firm by assets, up for sale in its third attempt to privatize it, citing better financial environment to attract bidders for its 57% stake worth KRW6 trillion ($5.3 billion), after its previous sale attempts collapsed due to insufficient bidders in 2010 and 2011.
The state-run life insurer Korea Deposit Insurance Corp. (KDIC) owns the stake that is valued at about 6.3 trillion won (US$5.56 billion). More...

Apr-30 -- Trying to Shed Student Debt
Indiscriminately disbursing loans with high interest rates at a time when job prospects are dismal, incomes are plummeting, tuition has skyrocketed, and college degrees are losing value is bound to shatter dreams by saddling people with toxic debt.
We need a leader like President Obama who knows that access to a quality education benefits students and keeps America competitive in the global economy. More...

Apr-30 -- Egypt to Resume Jordanian Gas Shipments, Jordan Times Reports
The 750-mile long pipeline has been the target of terrorist bombings more than a dozen times in the last year alone.
In an email, Byman says, "I think it signals that the cold peace will get even colder." More...

Apr-30 -- Facebook billionaire Moskovitz shuns life of luxury for San Francisco's ...
We could go work on art projects," Rosenstein said.
An enterprise sales force is typically using e-mails and contacts and relationships to do benefits-based selling into a group that's not even using the product at all. More...

Apr-30 -- Air India's 787 Dreamliner rolls out of Boeing's new US plant
Boeing workers gather around the new 787 at the company's assembly plant Friday in North Charleston, S.C. NORTH CHARLESTON, S.C. -- The first 787 Dreamliner assembled here waited Friday morning to roll out into the hot southern sunshine, "Made with pride in South Carolina" stenciled on its forward fuselage.
The white Boeing 787, which has been purchased by Air India, was slowly pulled onto the tarmac as machines poured smoke from behind the massive doors of the company's final assembly building. More...

Apr-30 -- Metro Expo Line Opens with Free Rides This Weekend
The new Metro Expo Line train carrying officials from downtown Los Angeles broke through a banner at the Expo Park/USC Station as confetti and fireworks canons fired and the USC Trojan Marching Band played, marking the beginning of the hour-long dedication ceremony.
The officials will then take the train to the Expo USC station, where the official dedication of the rail will take place at 12:30 p.m. More...

Apr-30 -- Amazon seals sales tax deal with Texas
Ending a nearly two-year battle, Texas Comptroller Susan Combs and Amazon.com have struck a deal that calls for the online retailer to bring 2,500 jobs and $200 million in capital investment to the state and on July 1 start collecting tax on sales made to people in Texas.
According to a statement from state Comptroller Susan Combs' office, she and Amazon said they've agreed on sales taxes, a thorny issue in Texas and elsewhere. More...

Apr-30 -- Argentina: YPF vows to continue gas supplies
Fernandez infuriated Spain, Argentina's largest foreign investor, but elated many Argentines by expropriating Repsol YPF SA's majority stake in Argentina's formerly state-owned YPF energy company.
Argentina's Senate on Thursday approved a government bill to nationalize the country's biggest oil company, YPF, clearing the way for likely approval by the lower house next week. More...

Apr-30 -- Chevron 1Q Net Up 4.2% Despite Production Drop
The company's average U.S. sales price reached $102 per barrel, up from $89 last year.
The company also has faced challenges, including the crash in North American natural gas prices, which I discuss in Natural Gas: The Race to $1 , and rising resource nationalism. More...

Apr-30 -- Zynga Earnings Beat Estimates as Game Site Lures Users
Zynga's revenues rose 32 percent to $321 million in the first quarter, beating analysts' estimates of $316.8 million in revenue and earnings of 5 cents a share excluding stock-based expenses.
Zynga announced it reached $329 million in sales for the recent quarter, a 15% increase over this time last year. More...

Apr-30 -- Shareholder: GlaxoSmithKline offer is bitter pill
LONDON (Reuters) - Drugmaker GlaxoSmithKline said on Wednesday its $2.6 billion bid for long-time partner Human Genome Sciences was "full and fair" and it was the only obvious owner for the biotechnology firm.
In the case of Tyrisa, the market has been looking for an effective anti-atherosclerosis drug for a long, long time, and a safe and effective drug could be worth billions. More...

Apr-30 -- Diablo Canyon knocked offline, powerless against tiny jellyfish-like creature
SAN LUIS OBISPO, Calif. - An overwhelming number of jellyfish-like creatures clogging seawater intake screens have forced operators to shut down a reactor at a U.S. nuclear power plant.
Victor Dricks, a spokesman for the Nuclear Regulatory Commission, said the salp pose no threat to the plant. More...

Sunday (Update 1)

Apr-29 -- How Apple Sidesteps Billions in Taxes
Apple's sales teams in high-tax countries sell on behalf of subsidiaries in low-tax countries, avoiding income taxes.
Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company's profits, according to The New York Times. More...

Apr-29 -- Stay In Stocks Or Sell In May?
Up 1.5 percent from last Friday's close, the Dow Jones industrial average rose 23.69 points, or 0.2 percent, to 13,228.31.
NEW YORK, April 26 (Reuters) - U.S. stocks added to gains in a late rally on Thursday, with the Dow rising 1 percent and the S&P 500 and the Nasdaq hitting session highs. More...

Apr-29 -- Government cuts slow economic recovery
Many economists exclude inventories to better gauge the economy's underlying strength.
Friday's report showed that the personal saving rate fell from 4.5 percent in the fourth quarter to 3.9 percent in the first quarter, the lowest since the recovery began in mid-2009. More...

Apr-29 -- Amazon Kindle Fire Takes Over Half Of Android Tablet Market
Amazon shares surged almost 15 percent, increasing the company's market value by more than $10 billion and boosting the stake of Chief Executive Jeff Bezos by almost $2.5 billion.
The company said it expects revenue in the current quarter to grow between 20 percent and 34 percent, or to between $11.9 billion and $13.3 billion, which includes the negative impact of foreign exchange movements. More...

Apr-29 -- Crude ends up; weak GDP raises hopes for Fed easing
An outage in Iraq caused by a dispute between the Kurdish regional government and Baghdad has pushed production down about 100,000 bpd, and the worsening situation in Sudan has cut output deeper there in the past two months.
The UBS Bloomberg CMCI index of 26 raw materials rose 0.3 percent to 1,573.671. More...

Apr-29 -- Seoul Puts Woori Up for Sale, Again
SEOUL South Korea put Woori Finance Holdings (053000.SE), the largest local financial holding firm by assets, up for sale in its third attempt to privatize it, citing better financial environment to attract bidders for its 57% stake worth KRW6 trillion ($5.3 billion), after its previous sale attempts collapsed due to insufficient bidders in 2010 and 2011.
"The overall health of the economy has been strong enough to build an inviting environment for investors. More...

Apr-29 -- Who to blame for the price at the pump? Tough to say
The price of regular unleaded fell to $4.11 per gallon on Wednesday, down 3.9 cents from a week ago.
"I think $3, $3.30 whatever it is would have been a disaster, as you know, four or five years ago. More...

Apr-29 -- Here to help: Do homework before taking student loan
The federal government now provides the bulk of student loans.Federal loans accounted for more than 90% of all student borrowing in the 2010-2011 academic year, according to the College Board.
Build 9: 437 ms (Content).Completed macro ody_bottom_caro_seven.Build 9: 500 ms (Content).Completed macro ody_conveyor.Parsing macro ody_footer.Parsing macro ody_analytics. More...

Apr-29 -- One in four without a job in Spain
In a sale of 10-year bonds, the government offered a rate of 5.84% compared with 5.24% at a similar sale a month earlier.
The yield on the country's ten-year bond was up 0.14 of a percentage point to 5.93 percent, having touched 6 percent earlier. More...

Apr-29 -- For Israel And Egypt, A Relationship Under Strain
Amman expressed concern that cuts in Egyptian gas supplies could cost the kingdom more than two billion dollars in 2012.
Not so, says EMG, which told Reuters on Wednesday that the gas supply was interrupted because Egypt failed to protect the feeder pipeline in the Sinai Peninsula from militant attacks. More...

Apr-29 -- YPF vows to deliver gas as Repsol cancels deliveries
Fernandez infuriated Spain, Argentina's largest foreign investor, but elated many Argentines by expropriating Repsol YPF SA's majority stake in Argentina's formerly state-owned YPF energy company.
Argentina's Senate on Thursday approved a government bill to nationalize the country's biggest oil company, YPF, clearing the way for likely approval by the lower house next week. More...

Apr-29 -- New federal rules could speed up short-sale process
How would this work? The Federal Housing Finance Agency, an independent agency that regulates the activities of Fannie Mae and Freddie Mac, could allow the two mortgage finance giants to sell a portion of their large portfolios of foreclosed homes to investors who would partner with them when appropriate to create a pool of energy-efficient rental housing that the federal government could eventually sell alongside their private-sector partners.
In either case the economic value will be enhanced and residential property investment returns show that improved cash flow translates into greater underlying asset value and improved pricing. More...

Apr-29 -- Expo Line opens variety of possibilities for riders
The new Metro Expo Line train carrying officials from downtown Los Angeles broke through a banner at the Expo Park/USC Station as confetti and fireworks canons fired and the USC Trojan Marching Band played, marking the beginning of the hour-long dedication ceremony.
The Expo Line is the first phase of a line that connects downtown to the Westside of LA. More...

Apr-29 -- Boeing to Ship First Four South Carolina-Built 787s to Air India
Boeing workers gather around the new 787 at the company's assembly plant Friday in North Charleston, S.C. NORTH CHARLESTON, S.C. -- The first 787 Dreamliner assembled here waited Friday morning to roll out into the hot southern sunshine, "Made with pride in South Carolina" stenciled on its forward fuselage.
South Carolina Gov. Nikki Haley, U.S. Rep. Lindsey Graham and James Albaugh, president and CEO of the company's commercial airplanes division were among the dignitaries on hand. More...

Apr-29 -- Procter & Gamble net income slips
Analysts are now looking for earnings of $0.93 per share for the fourth quarter, on revenues of $20.80 billion.
The results topped analysts' expectations of 93 cents, according to Thomson Reuters I/B/E/S. Sales grew 2 percent to $20.19 billion. More...

Apr-29 -- Geithner: US can withstand any Europe stresses
SAN FRANCISCO (Reuters) - The United States is willing to open up its markets to China and give it more access to U.S. technologies if Beijing makes progress on key issues, U.S. Treasury Secretary Timothy Geithner said on Thursday.
Perhaps Wells could be one of the "new private lenders to private enterprises" Geithner noted in reference to a pilot program launched last month in Wenzhou, a city of 9 million people in southeast China. More...

Apr-29 -- Lehman Bros. pay report brings calls for reform
Rep. Brad Sherman (D-Sherman Oaks) said the Securities and Exchange Commission should require public companies to disclose the names of all employees who are paid more than $5 million a year to prevent the type of huge compensation packages given by Lehman.
Lehman's richest pay package in 2007 went to Robert Millard, who was in line to make $51.3 million running a group that invested the firm's own cash, according to the documents. More...

Apr-29 -- Zynga Earnings Beat Estimates as Game Site Lures Users
Zynga's revenues rose 32 percent to $321 million in the first quarter, beating analysts' estimates of $316.8 million in revenue and earnings of 5 cents a share excluding stock-based expenses.
In addition to the increase in MAUs to 292 million, daily average users (DAUs) climbed 6 percent to 62 million. More...

Apr-29 -- Chevron 1Q Net Up 4.2% Despite Production Drop
The company's average U.S. sales price reached $102 per barrel, up from $89 last year.
The company also has faced challenges, including the crash in North American natural gas prices, which I discuss in Natural Gas: The Race to $1 , and rising resource nationalism. More...

Apr-29 -- Money Minute: Cut-rate mortgages for sale at Costco [Video]
The discount retailer is partnering with First Choice Bank and 10 other lenders to offer a full, service mortgage lending program.
Costco takes no profit on the lending itself, but it does get paid to market the service. More...

Sunday

Apr-29 -- Dow regains ground it lost in April; Amazon surges
Starbucks Corp fell 5.3 percent to $57.43 and was one of the biggest percentage decliners on the Nasdaq 100 after the coffee chain operator reported results late on Thursday.
NEW YORK, April 26 (Reuters) - U.S. stocks added to gains in a late rally on Thursday, with the Dow rising 1 percent and the S&P 500 and the Nasdaq hitting session highs. More...

Apr-29 -- How Apple sidesteps billions in taxes
Record sales of iPhones and iPad tablet computers, particularly in China and other parts of Asia, saw Google report last week that it made a $39.2 billion profit in the quarter ended March 31.
Apple serves as a window on how technology giants have taken advantage of tax codes written for an industrial age and ill-suited to today's digital economy. More...

Apr-29 -- Government cuts slow economic recovery
Growth in the U.S. economy slowed to 2.2 percent in the first quarter from 3 percent at the end of last year, even as unusually mild winter weather gave a strong boost to consumer spending and car sales, the Commerce Department reported Friday morning.
National defense spending slumped 8.1 percent, following a 12.1 percent decrease the prior quarter. More...

Apr-29 -- Amazon First-Quarter Revenue Tops Estimates on Kindle
Amazon shares surged almost 15 percent, increasing the company's market value by more than $10 billion and boosting the stake of Chief Executive Jeff Bezos by almost $2.5 billion.
JP Morgan's Anmuth noted that in addition to the Kindle Fire itself, nine out of the 10 top sellers in the quarter were digital products, including e-books, movies, music and apps. More...

Apr-29 -- Tax Alamo? Amazon Strikes Texas Tax Deal While Illinois Tax Goes Down
Ending a nearly two-year battle, Texas Comptroller Susan Combs and Amazon.com have struck a deal that calls for the online retailer to bring 2,500 jobs and $200 million in capital investment to the state and on July 1 start collecting tax on sales made to people in Texas.
Texas and Amazon have been at odds over the collection of online sales taxes since last September, when Combs sent Amazon a $269 million bill covering sales taxes the comptroller said Amazon should have collected from 2005 to 2009. More...

Apr-29 -- Crude ends up; weak GDP raises hopes for Fed easing
An outage in Iraq caused by a dispute between the Kurdish regional government and Baghdad has pushed production down about 100,000 bpd, and the worsening situation in Sudan has cut output deeper there in the past two months.
The UBS Bloomberg CMCI index of 26 raw materials rose 0.3 percent to 1,573.671. More...

Apr-29 -- Why the Amazon Naysayers Should Be Scared
The company also revealed it made $130 million in net income, or $0.28 per diluted share, for the quarter, which is down 35 percent year-over-year.
On average, 34 analysts polled by Thomson Reuters expected the company to earn $0.07 per share for the first quarter. More...

Apr-29 -- Wal-Mart is working to clean up its image
Wal-Mart, America's biggest retailer, is also Mexico's largest retailer and there, the company has been accused of paying more than $24 million in bribes to Mexican officials to obtain construction permits to build new stores.
Wal-Mart is a large, powerful, rich company. More...

Apr-29 -- Augusta gas prices drop below those of a year ago
The price of regular unleaded fell to $4.11 per gallon on Wednesday, down 3.9 cents from a week ago.
According to the price tracking website Gasbuddy.com , the national average fell only a half a cent in that time period to $3.85. More...

Apr-29 -- Expo Line opens variety of possibilities for riders
The new Metro Expo Line train carrying officials from downtown Los Angeles broke through a banner at the Expo Park/USC Station as confetti and fireworks canons fired and the USC Trojan Marching Band played, marking the beginning of the hour-long dedication ceremony.
Sunyoung Yang, lead organizer of the Bus Riders Union, criticized Metro for building rail lines while cutting bus service. More...

Apr-29 -- Feds eye fix to loan$
The federal government now provides the bulk of student loans.Federal loans accounted for more than 90% of all student borrowing in the 2010-2011 academic year, according to the College Board.
The growth of student debt is stirring debate about whether the government should step in to ease the burden by rewriting the bankruptcy lawsagain. More...

Apr-29 -- Lehman Bros. pay report brings calls for reform
Rep. Brad Sherman (D-Sherman Oaks) said the Securities and Exchange Commission should require public companies to disclose the names of all employees who are paid more than $5 million a year to prevent the type of huge compensation packages given by Lehman.
Lawmakers and others say disclosure at financial institutions should be beefed up after report that 50 Lehman employees were awarded nearly $700 million in the year before the investment bank collapsed. More...

Apr-29 -- Geithner Asks China to Let Its Currency Strengthen
"Financial sector reforms are critical to China's continued economic growth."
Perhaps Wells could be one of the "new private lenders to private enterprises" Geithner noted in reference to a pilot program launched last month in Wenzhou, a city of 9 million people in southeast China. More...

Apr-29 -- Argentina's YPF pledges to continue gas supplies
Fernandez infuriated Spain, Argentina's largest foreign investor, but elated many Argentines by expropriating Repsol YPF SA's majority stake in Argentina's formerly state-owned YPF energy company.
Argentina's Senate on Thursday approved a government bill to nationalize the country's biggest oil company, YPF, clearing the way for likely approval by the lower house next week. More...

Apr-29 -- Chevron 1Q Net Up 4.2% Despite Production Drop
The company's average U.S. sales price reached $102 per barrel, up from $89 last year.
Chevron Corp.' s (CVX) first-quarter earnings rose 4.2% as the oil-and-gas producer's reported improved profits in both its upstream and downstream businesses. More...

Apr-29 -- Boeing to Ship First Four South Carolina-Built 787s to Air India
Boeing workers gather around the new 787 at the company's assembly plant Friday in North Charleston, S.C. NORTH CHARLESTON, S.C. -- The first 787 Dreamliner assembled here waited Friday morning to roll out into the hot southern sunshine, "Made with pride in South Carolina" stenciled on its forward fuselage.
After the closely watched plane emerged through a staged smoky haze into the bright Lowcountry sun, Gov. Nikki Haley took the stage to the tune of Aerosmith's "Dream On" and uttered the same catchy phrase as last June when the final assembly building opened. More...

Apr-29 -- Pending home sales up in March
WASHINGTON — U.S. pending home sales rose in March from February and were solidly above their year-ago level, pointing to recovery in the distressed housing market, an industry group said Thursday.
The boost in contract signings puts the Index 12.8 percent above March of last year when it was 89.9. More...

Apr-29 -- Korea Revives Plan to Sell Woori Stake
SEOUL South Korea put Woori Finance Holdings (053000.SE), the largest local financial holding firm by assets, up for sale in its third attempt to privatize it, citing better financial environment to attract bidders for its 57% stake worth KRW6 trillion ($5.3 billion), after its previous sale attempts collapsed due to insufficient bidders in 2010 and 2011.
Current rules stipulate if another financial company wanted to take control of Woori, it would have to take a stake of at least 95%. More...

Apr-29 -- Diablo Canyon knocked offline, powerless against tiny jellyfish-like creature
SAN LUIS OBISPO, Calif. - An overwhelming number of jellyfish-like creatures clogging seawater intake screens have forced operators to shut down a reactor at a U.S. nuclear power plant.
Victor Dricks, a spokesman for the Nuclear Regulatory Commission, said the salp pose no threat to the plant. More...

Apr-29 -- Quake faults near nuclear plant to be studied
RE: "the U.S. Nuclear Regulatory Commission's position that it did not approve all design changes to the replacement steam generators at the San Onofre Nuclear Generating Station because the plant's operator, Southern California Edison, determined that the changes did not pose an added safety risk."
Laguna Beach and San Clemente have already sent letters to the commission. More...

Saturday (Update 2)

Apr-29 -- Dow regains ground it lost in April; Amazon surges
Dow Jones industrial average futures added 22 points, and Nasdaq 100 futures climbed 10.75 points.
NEW YORK, April 26 (Reuters) - U.S. stocks added to gains in a late rally on Thursday, with the Dow rising 1 percent and the S&P 500 and the Nasdaq hitting session highs. More...

Apr-29 -- Crude ends up; weak GDP raises hopes for Fed easing
An outage in Iraq caused by a dispute between the Kurdish regional government and Baghdad has pushed production down about 100,000 bpd, and the worsening situation in Sudan has cut output deeper there in the past two months.
The UBS Bloomberg CMCI index of 26 raw materials rose 0.3 percent to 1,573.671. More...

Apr-29 -- Economy in US Grew Less Than Forecast in First Quarter
The private-sector economy grew at a 3.5 percent annual rate in the first quarter, according to Alan Krueger, the head of the White House Council of Economic Advisers.
The drop from January to March was largely thanks to a slump in government spending. More...

Apr-29 -- Amazon Agrees To Collect Sales Tax In Texas, To Create 2500 Jobs In The State
Ending a nearly two-year battle, Texas Comptroller Susan Combs and Amazon.com have struck a deal that calls for the online retailer to bring 2,500 jobs and $200 million in capital investment to the state and on July 1 start collecting tax on sales made to people in Texas.
As part of an agreement reached with Texas Comptroller Susan Combs, Texas will no longer try to collect back taxes from Amazon. More...

Apr-29 -- Amazon First-Quarter Revenue Tops Estimates on Kindle
Amazon shares surged almost 15 percent, increasing the company's market value by more than $10 billion and boosting the stake of Chief Executive Jeff Bezos by almost $2.5 billion.
Stake of CEO Bezos worth nearly $2.5 bln more By Alistair Barr April 26 (Reuters) - Amazon.com Inc's quarterly results beat Wall Street's most bullish expectations as heavy spending by the world's largest Internet retailer began to pay off through sales of more digital products on its new Kindle Fire tablet. More...

Apr-29 -- Why the Amazon Naysayers Should Be Scared
The company also revealed it made $130 million in net income, or $0.28 per diluted share, for the quarter, which is down 35 percent year-over-year.
I say "at least" 13 new centers because there's new news on that front almost every day. More...

Apr-29 -- Boeing rolls out first 787 made in South Carolina
Boeing workers gather around the new 787 at the company's assembly plant Friday in North Charleston, S.C. NORTH CHARLESTON, S.C. -- The first 787 Dreamliner assembled here waited Friday morning to roll out into the hot southern sunshine, "Made with pride in South Carolina" stenciled on its forward fuselage.
Charleston, SC (WLTX) - Fireworks and fanfare welcomed the first South Carolina built Boeing 787 onto the Tarmac with the 6,000 workers who put it together. More...

Apr-29 -- Augusta gas prices drop below those of a year ago
The price of regular unleaded fell to $4.11 per gallon on Wednesday, down 3.9 cents from a week ago.
A week ago some analysts were worried that the price may be hitting a volatile price trend after gasoline fell almost five cents in Oklahoma and one cent nationally. More...

Apr-29 -- Chevron 1Q Net Up 4.2% Despite Production Drop
Chevron said Friday, April 27, 2012, profits rose 4.2 percent in the first quarter as it sold oil for higher prices.
Foreign currency effects decreased earnings by $11 million in the 2012 quarter, compared with a decrease of $38 million a year earlier. More...

Apr-29 -- Feds Close Maple Grove Bank, 4 Others
Depositors' accounts will be transferred to First Federal Bank in Charleston, which entered into a loss-share pact with the Federal Deposit Insurance Corporation and will assume $221.7 million of Plantation Federal's assets.
When a failed bank is purchased by another bank from the FDIC, the acquiring bank will normally assume all deposits of the failed bank, protecting depositors regardless of deposit size. More...

Apr-29 -- Wal-Mart took part in lobbying campaign to amend anti-bribery law
Wal-Mart, America's biggest retailer, is also Mexico's largest retailer and there, the company has been accused of paying more than $24 million in bribes to Mexican officials to obtain construction permits to build new stores.
The federal comptroller's office said it had begun checking the paperwork and permits obtained to open and operate stores. More...

Apr-29 -- Lehman Bros. pay report brings calls for reform
Rep. Brad Sherman (D-Sherman Oaks) said the Securities and Exchange Commission should require public companies to disclose the names of all employees who are paid more than $5 million a year to prevent the type of huge compensation packages given by Lehman.
Lawmakers and others say disclosure at financial institutions should be beefed up after report that 50 Lehman employees were awarded nearly $700 million in the year before the investment bank collapsed. More...

Apr-29 -- US tries to confront hurdles to trade with China
Beijing: Chinese Vice-Finance Minister Zhu Guangyao praised an April 26 speech by U.S. Treasury Secretary Timothy F. Geithner as "pragmatic," days before annual China U.S. talks on economic and strategic issues begin in Beijing.
Perhaps Wells could be one of the "new private lenders to private enterprises" Geithner noted in reference to a pilot program launched last month in Wenzhou, a city of 9 million people in southeast China. More...

Apr-29 -- Repsol Cancels One LNG Shipment to Argentina, Clarin Reports
Fernandez infuriated Spain, Argentina's largest foreign investor, but elated many Argentines by expropriating Repsol YPF SA's majority stake in Argentina's formerly state-owned YPF energy company.
Having won a landslide re-election in October, the 59-year-old leader unveiled plans last week to seize a 51 percent stake in YPF. The Senate voted 63-3 to approve the measure early on Thursday. More...

Apr-29 -- Expo Line opens to the public with free rides this weekend
The new Metro Expo Line train carrying officials from downtown Los Angeles broke through a banner at the Expo Park/USC Station as confetti and fireworks canons fired and the USC Trojan Marching Band played, marking the beginning of the hour-long dedication ceremony.
"We end up being in downtown Los Angeles a lot dealing with the city and permitting, and we have a number of employees living east of downtown. More...

Apr-29 -- Ally Financial: Could Lose Up To $1.2 Billion In ResCap Bankruptcy
Ally said ResCap had 30 days after the missed payment of about $20 million before a default occurs, and people familiar with the matter have said the company is considering bankruptcy for the unit.
Ally's bankruptcy plans come as the firm yesterday reported net income more than doubled to $310 million from $146 million a year earlier. More...

Apr-29 -- Spanish economy in "huge crisis" after credit downgrade
S&P's two-notch downgrade of Spain on Thursday was the latest in a blizzard of rating cuts for euro zone states by the credit rating agency over the last few years.
The dynamic at work in Spain -- and throughout much of the euro zone -- is troubling. More...

Apr-29 -- Doyle Drive demolition on track; traffic is light
The Golden Gate Bridge is known around the world, and the Bay Bridge enjoys at least regional renown.
The 101 route will run as far south as San Rafael before diverting across the Richmond-San Rafael Bridge to use Interstate 80 and the Bay Bridge to enter San Francisco. More...

Apr-29 -- SEC starts probe of Chesapeake CEO's well stakes
Chesapeake Energy said Thursday it was ending a criticized investment program that allowed its top executive to mortgage personal stakes in company wells, ending the controversial arrangement just hours before the Securities and Exchange Commission took preliminary steps to open an investigation into the practice.
The Founder Well Participation Program has been part of McClendon's compensation package since 1993, but it was brought to the fore last week after a news report indicated McClendon had secured up to $1.1 billion in loans to fund his participation. More...

Apr-29 -- Health Insurers to Pay Rebates
Under the law, large group plans are required to spend at least 85 percent of premium dollars on health care and quality improvement, while small group plans must spend at least 80 percent.
Millions of people could get a $127 due to insurance companies having to spend 80 to 85 percent of premium payments on actual patient care or on things like discounted gym memberships. More...