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Today's Paper: Europe

2009-11-10T04:54:00.001-05:00

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November 10, 2009 -- 6:30 a.m.

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News by section: | Page One | Corporate News | Economy and Politics | Money and Investing | Marketplace

PAGE ONE

A1
Gold Extends Its Record Run

Gold continued its climb, but some say the rally may be reined in over the next four to six months, should hedge funds and other institutional investors begin to view the gains as overdone.

Cadbury Sneers at Kraft's Hostile Bid

Kraft officially launched a hostile bid for Cadbury, setting in motion a tussle for control of the British confectioner.

• Full Text: Kraft's offer | Timeline

• Private Equity: PE Firms Salivate Over Deal

• Heard: Kraft Makes Cadbury Sweat

Tory Defense Chief Seeks U.K. Security Overhaul

The Conservative Party's top defense official said his government in the U.K. would seek to speed up a transformation of NATO, encourage a harder Western line against Russia and Iran and reach out to Turkey.

A2
• Production Gives a Lift to German Economy
• EU Group: Aid Still Needed

A3
• Most of Cash in French Heist Recovered in Lyon
• Netanyahu Urges Resumption of Peace Talks

CORPORATE NEWS

A4
British Retailers, Housing Market Show New Gains

Important parts of the British economy appear to be in recovery, with surveys showing a strong pickup in retail sales and housing-market sentiment in October.

Ukraine's Rival Leaders Respond to
IMF Pressure

Ukraine's feuding political leadership will meet Tuesday in an attempt to thrash out a deal to secure much-needed further lending from the IMF.

ECONOMY AND POLITICS

A11
Iran Says It Suspects U.S. Hikers of Spying

Iran said three U.S. hikers it holds are suspected of spying, raising concerns they will be used as leverage in talks.

• WSJ.com/Mideast: News, video, graphics

Iraqi Arabs and Kurds Pursue a Common Ground

Arab and Kurdish military commanders are making efforts at cooperation despite their political differences, offering hope that one of Iraq's most difficult ethnic divides may be narrowing.

A12
• CAPITAL JOURNAL: Iran's Moves Reveal Leadership Rift
• Leaders of Lebanon Unveil Deal
• Latvia's Economy Shrinks Further

A16
• With Feds, BofA's Lewis Met His Match

A18
• World Leaders Revisit Berlin Wall's Fall

MARKETPLACE

A29
A New Mosque in Nicaragua
Fires Up the Rumor Mill

With just 300 or so Muslims in all of Nicaragua, it became an instant mystery when a mosque suddenly seemed to spring up in a residential neighborhood.

HEALTH JOURNAL
When Hoarders Make Life Miserable for Others

Compulsive hoarding is coming out of the closet these days, thanks to books, movies and TV shows. But many family members say the pain that hoarding inflicts on them is still largely unacknowledged.

• Podcast: Helping Compulsive Hoarders

A30
• Former CEOs lend struggling firms a hand

A35
• Leading Editor Quits China's Top Magazine

A36
• HEARD ON THE STREET: Cadbury Craves a Sweetener
• HEARD ON THE STREET: Investors' Electric Dreams For BYD
• HEARD ON THE STREET: Central Bank of Oil Should Cool Prices

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6
Eni faces threat to lucrative gas network

The Italian energy giant will respond Nov. 27 to allegations it restricted European pipeline competition.

Pfizer to close 6 research sites, including 2 in U.K.

Pfizer, digesting its $68 billion takeover of rival Wyeth, will close six of its 20 research sites in the latest round of cost cutting by drug makers.

8
• Upscale cars post gains
• GM CEO in Germany to review Opel's future
• Auto sales surge in China amid stimulus measures
• Aer Lingus sales decline slows

10
• Catering to the recession mentality
• Reynolds in talks to buy Niconovum
• Sonova to pay $489 million for U.S. maker of hearing aids

13
OPINION
• The Lords of Entitlement
• Read Merkel's Lips
• The Good Trade 'War'

14
OPINION
• Italy and the Cross
• The 'Punk' Rallies

15
OPINION
• The Molotov-Ribbentrop Pipeline
• Money Can't Buy Me Beatles
• BJØRN LOMBORG: Global Warming As Seen From Bangladesh

31
• Turning seasonal into a full-time job

33
• Hungarian Radio Auctions Are Questioned

MONEY AND INVESTING

A21
Dow Industrials Reach '09 High

The Dow leapt 204 points to its highest finish since Oct. 3, 2008, amid a broad rally powered by renewed investor hunger for risk.

• Econ: Banks Choosing Treasury Bonds Over Loans

• Data: Overview | Treasurys | Forex | Crude | Gold

• Readers React: 'One bubble after another'

• Vote: Where will Dow be by 2010?

Rejection Stymies
AXA, AMP Plans

AXA Asia Pacific Holdings rejected a cash and equity takeover proposal worth $10.1 billion that would see its French parent AXA and rival Australian wealth management firm AMP split the business in two.

U.K. Must Fix Hedge-Fund Oversight, Official Says

The U.K. Treasury's financial services secretary said the U.K. should develop a viable onshore regulated hedge fund industry.

A22
• CURRENCY TRADING: Dollar Loses Ground As Risk Play Prevails
• CREDIT MARKETS: Questions on Credit-Card Debt
• Resource Stocks Gain in Europe

A23
• Affiliated Managers Enters China
• UBS's Merrill Injection
• Allianz's Net Soars on Lower Write-Downs
• Fixed-Income Arb Funds Ease Up on Their Leverage

A24
• For Carlyle Group, It's China
• Hong Kong Gains; AXA APH Jumps
• Moody's Raises Outlook on China, Keeps Rating

A25
• Kotak Bets on India Inc.
• Miner selects RBS chairman in effort to refresh its board
• World Bank Officer Opposes Yuan Rise
• Gazprom's Net Drops 36% as Demand Slips
• Commonwealth Bank Says Bad Debts Have Peaked

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Your daily e-mail from the BBC

2009-10-31T21:56:00.001-04:00

Saturday, 31 October, 2009, 6:00 GMT 01:00 -05:00:US/Eastern

TOP STORIES

Dead CO attacked copter shortage
The most senior British officer to be killed in the Afghan campaign warned about the risks to troops of a shortage of helicopters.

'More to quit' in drug advice row
The UK's chief drugs adviser is predicting there will be resignations after he was sacked for criticising government policy.

Homes evacuated after explosion
Fifty houses are evacuated following a gas main explosion close to a railway station, say police.

Postal strikes to enter third day
The most comprehensive action of the postal strike will begin later, with 77,000 staff due to down tools across the country.

Libya talks over IRA compensation
A delegation representing victims of IRA violence is to hold talks in Libya later over compensation claims.

WORLD

Fourth storm lashes Philippines
The fourth storm to hit the Philippines in a month has made landfall, bringing heavy rain and winds to the eastern region.

Abdullah 'to boycott Afghan vote'
Abdullah Abdullah, the main rival to Hamid Karzai in the Afghan election, is to pull out of the second round, reports say.

Obama to lift HIV entry ban soon
President Barack Obama says he will end the 22-year ban on people with HIV entering the US from the start of 2010.

AMERICAS

Nine survive Brazil jungle crash
An Indian tribe in Brazil has found at least nine survivors of a plane crash in the Amazon region, Brazil's air force says.

BP fined $87m for Texas explosion
BP is fined a record $87m by the US authorities for failing to correct safety violations at its Texas oil refinery.

Obama to lift HIV entry ban soon
President Barack Obama says he will end the 22-year ban on people with HIV entering the US from the start of 2010.

ASIA-PACIFIC

Fourth storm lashes Philippines
The fourth storm to hit the Philippines in a month has made landfall, bringing heavy rain and winds to the eastern region.

Internet addresses set for change
The internet regulator approves plans to allow non-Latin-script web addresses, in a move set to transform the online world.

Release of Turkmen activist urged
An environmentalist sentenced to prison in Turkmenistan was jailed on trumped-up charges, human rights campaigners say.

EUROPE

EU strikes climate funding deal
EU leaders agree a conditional deal to help other nations fight global warming, ahead of the Copenhagen climate summit.

Libya talks over IRA compensation
A delegation representing victims of IRA violence is to hold talks in Libya later over compensation claims.

Medvedev blasts Stalin defenders
Russian President Dmitry Medvedev hits out at those seeking to rehabilitate former Soviet leader Joseph Stalin.

MIDDLE EAST

Israel endorses Iran nuclear plan
Israeli PM Benjamin Netanyahu praises a UN proposal on Iran's nuclear enrichment programme as a "positive first step".

Libya talks over IRA compensation
A delegation representing victims of IRA violence is to hold talks in Libya later over compensation claims.

Yemen civilians die in shellfire
A number of displaced Yemenis have been killed during a clash between the army and rebels, the UN's refugee agency says.

UK

Postal strikes to enter third day
The most comprehensive action of the postal strike will begin later, with 77,000 staff due to down tools across the country.

'More to quit' in drug advice row
The UK's chief drugs adviser is predicting there will be resignations after he was sacked for criticising government policy.

Homes evacuated after explosion
Fifty houses are evacuated following a gas main explosion close to a railway station, say police.

ENGLAND

Ransom demanded for yacht couple
Somali pirates issue a ransom demand of $7m (£4.3m) for a couple from Kent kidnapped in the Indian Ocean.

Lake death husband loses appeal
A man convicted of killing his wife at their French home and dumping her body in a lake loses his appeal.

Postal strikes to enter third day
The most comprehensive action of the postal strike will begin later, with 77,000 staff due to down tools across the country.

POLITICS

'More to quit' in drug advice row
The UK's chief drugs adviser is predicting there will be resignations after he was sacked for criticising government policy.

Dead CO attacked copter shortage
The most senior British officer to be killed in the Afghan campaign warned about the risks to troops of a shortage of helicopters.

Libya talks over IRA compensation
A delegation representing victims of IRA violence is to hold talks in Libya later over compensation claims.

BUSINESS

Postal strikes to enter third day
The most comprehensive action of the postal strike will begin later, with 77,000 staff due to down tools across the country.

Britain 'losing billions in VAT'
The British Government has been losing out on as much as £1 in every £6 that it could be collecting in VAT, says research.

Shares slump on US spending data
Global shares fall sharply after figures showing a drop in US consumer spending raise doubts about US economic recovery.

ENTERTAINMENT

Tennant describes 'sad' farewell
Doctor Who actor David Tennant says he had to keep a "stiff upper lip" while filming his final scenes as the Time Lord.

Cowell praying for 'Jedward' exit
X Factor judge Simon Cowell says a win for X Factor twins John and Edward Grimes would be a 'disaster' for the talent show.

This Is It makes $20m in one day
Michael Jackson concert documentary This Is It earned $20.1m (£12.1m) at box offices worldwide on its first day, studio bosses say.

SCIENCE/NATURE

'More to quit' in drug advice row
The UK's chief drugs adviser is predicting there will be resignations after he was sacked for criticising government policy.

EU strikes climate funding deal
EU leaders agree a conditional deal to help other nations fight global warming, ahead of the Copenhagen climate summit.

Polar bear plus grizzly equals?
A new study reveals what happens when a polar bear is crossed with a grizzly.

HEALTH

Call for better bowel cancer care
There are still gaps in bowel cancer surgery care, an audit suggests.

Donor sperm safety 'in question'
Experts are questioning how rigorously sperm donors must be screened after nine children inherit a heart condition.

Give children 'healthy Halloween'
Parents should shun chocolate and sweets this Halloween and offer spooky-themed healthy food, a charity says.

EDUCATION

Brown says primary Sats must stay
Gordon Brown says Sats must stay for 11-year-olds to ensure school accountability.

Infant place appeals up by a half
Almost 50% more parents appealed over the infant school places their children were given last year.

Grants rise for 75,000 students
A students' union welcomes a £30m increase in grants and support announced by the Scottish Education Secretary.

ON THIS DAY NEWS FROM THE BBC ARCHIVES

1984: Indian prime minister shot dead
Indira Gandhi, the Prime Minister of India, is killed by two assassins believed to be her own bodyguards.

1955: Princess Margaret cancels wedding
Princess Margaret calls off her plans to marry divorced Group Captain Peter Townsend.

1971: Bomb explodes in Post Office tower
A bomb explodes in the Post Office tower causing extensive damage but no injuries.

OPTIONS AND HELP

Copyright BBC 2005

Latest News from the New York Times

2009-09-30T13:14:00.001-04:00

Wednesday, September 30, 2009 Last Update: 11:22 AM EST

Scores Are Killed as Tsunami Hits Samoa Islands

By MERAIAH FOLEY

A tsunami generated by an undersea earthquake has killed at least 89 people and wiped out several villages on the islands of American Samoa and Samoa.

Network of Militants Is Robust After Mumbai Siege

By LYDIA POLGREEN and SOUAD MEKHENNET

The group behind the assault in November 2008 has the capability and intent to strike India again, intelligence files show.

Yo Jude: Deciphering Memory Cards

Critics' Picks: 'The King of Comedy'

Top News - Yahoo News

2009-09-26T05:34:00.001-04:00

Obama warns Iran: `come clean' on nukes
Fri, 25 Sep 2009 05:57 pm PDT
AP - Backed by other world powers, President Barack Obama declared Friday that Iran is speeding down a path to confrontation and demanded that Tehran quickly "come clean" on all nuclear efforts and open a newly revealed secret site for close international inspection. He said he would not rule out military action if the Iranians refuse. Full Story

Top

New Iran uranium enrichment site raises concerns
Fri, 25 Sep 2009 05:59 pm PDT
AP - Iran's newly revealed uranium enrichment plant is a heavily guarded, still-unfinished underground facility in the arid mountains near the holy city of Qom that will be able to produce nuclear fuel — or the payload for atomic warheads, Western intelligence officials and diplomats said Friday. Full Story

Top

AP sources: Guantanamo might not close by January
Fri, 25 Sep 2009 08:54 pm PDT
AP - The White House acknowledged for the first time Friday that it might not be able to close the U.S. military prison at Guantanamo Bay by January as President Barack Obama has promised. Full Story

Top

Obama: G20 brought economy back from brink
Fri, 25 Sep 2009 05:48 pm PDT
AP - World leaders on Friday issued sweeping promises to fix a malfunctioning global economic system in hopes of heading off future financial meltdowns. President Barack Obama said actions taken so far "brought the global economy back from the brink." Full Story

Top

Prosecutor: Terror plot focus was 9/11 anniversary
Fri, 25 Sep 2009 06:03 pm PDT
AP - An Afghan immigrant was on the verge of unleashing a terrorist attack on New York City on the Sept. 11 anniversary but was scared off after drawing suspicion from police, prosecutors said Friday as they provided new details about how far along the plot was. Full Story

Top

Witness: Census worker's hanging body naked, bound
Fri, 25 Sep 2009 08:16 pm PDT
AP - A part-time census worker found hanging in a rural Kentucky cemetery was naked, gagged and had his hands and feet bound with duct tape, said an Ohio man who discovered the body two weeks ago. Full Story

Top

Ohio woman implanted with wrong embryo delivers
Fri, 25 Sep 2009 07:42 pm PDT
AP - An Ohio woman who had the wrong embryo implanted by a fertility clinic has given birth to a boy. Full Story

Top

Chrysler trying to refit Fiats so they sell in US
Fri, 25 Sep 2009 06:15 pm PDT
AP - Chrysler thinks its future may be in a new lineup of smaller cars based on models from Italian partner Fiat. The question is how to make them for Americans put off by stiff suspensions, firm seats and — perish the thought — not enough cupholders. Full Story

Top

Seth Rogen gets dream role: 'Simpsons' writer
Fri, 25 Sep 2009 08:21 pm PDT
AP - Seth Rogen has fulfilled a dream, and he's not talking about starring in the box-office hit "Knocked Up" or playing a superhero in the upcoming "The Green Hornet." Full Story

Top

Rockies edge Cardinals 2-1; prevent clinching
Fri, 25 Sep 2009 08:25 pm PDT
AP - Yorvit Torrealba's sacrifice fly scored Troy Tulowitzki from third base with the winning run in the bottom of the ninth and the Colorado Rockies edged St. Louis 2-1 on Friday night. Full Story

Top

G20 upbeat on economy, pledges financial reforms
Fri, 25 Sep 2009 06:06 pm PDT
Reuters - The Group of 20 rich and developing nations promised to give rising powers such as China more say in rebuilding and guiding the global economy, and declared their crisis-fighting efforts a success on Friday. Full Story

Top

Obama demands Iran come clean on nuclear program
Fri, 25 Sep 2009 07:00 pm PDT
Reuters - Bolstered by other world powers, U.S. President Barack Obama demanded on Friday that Iran come clean about its nuclear program or face "sanctions that have bite" after the disclosure of a secret uranium enrichment plant. Full Story

Top

Bomb plot suspect said to have eyed 9/11 attack
Fri, 25 Sep 2009 07:28 pm PDT
Reuters - The Afghan-born man at the center of an anti-terrorism probe was determined to make a bomb and perhaps detonate it in New York City on the anniversary of the September 11 attacks, before he was thwarted by authorities, a U.S. prosecutor said on Friday. Full Story

Top

Senate healthcare bill unscathed after first week
Fri, 25 Sep 2009 02:02 pm PDT
Reuters - A broad healthcare overhaul emerged unscathed on Friday from the first week of Senate committee debate, with Chairman Max Baucus keeping fellow Democrats in line and shielding key elements from Republican attacks. Full Story

Top

U.S. "pay czar" Feinberg using formulas, not caps
Fri, 25 Sep 2009 11:28 am PDT
Reuters - President Barack Obama's "pay czar" said on Friday he was using formulas and data analysis to determine executive compensation rather than relying on pay caps. Full Story

Top

U.S. commanders hold secret meeting on Afghan troops
Fri, 25 Sep 2009 11:06 am PDT
Reuters - The top U.S. military official flew to Germany for an unannounced meeting on Friday with his commander in Afghanistan to discuss a request for more troops, military officials said. Full Story

Top

Protesters, police clash after G20 in Pittsburgh
Fri, 25 Sep 2009 08:50 pm PDT
Reuters - Police and anti-capitalist protesters clashed at the University of Pittsburgh campus on Friday evening, hours after the Group of 20 summit of rich and developing nations ended. Full Story

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Your daily e-mail from the BBC

2009-09-18T13:18:00.001-04:00

Friday, 18 September, 2009, 5:00 GMT 01:00 -04:00:US/Eastern

TOP STORIES

'Time against' Afghanistan forces
Troops in southern Afghanistan do not have time on their side, but success remains possible, a British major general says.

Cabinet discussing spending cuts
The chancellor has begun a series of meetings with cabinet colleagues to identify possible public spending cuts.

Jackson mother to get $1m a year
Court papers reveal that Michael Jackson's mother will receive more than $1m a year from the late singer's estate.

Iran 'does not need' nuclear arms
Iran's president says his country does not need nuclear weapons, while insisting Iran will continue efforts for nuclear power.

Unhealthy men 'may lose 10 years'
Many middle-aged male smokers with high blood pressure and cholesterol face dying 10 years early, a UK study suggests.

WORLD

Iran 'does not need' nuclear arms
Iran's president says his country does not need nuclear weapons, while insisting Iran will continue efforts for nuclear power.

Last US push for Mid-East talks
US envoy George Mitchell is to press Israel's PM for a settlement freeze, in an effort to facilitate talks with the Palestinians.

Bid to halt US 'vein' execution
Lawyers for a US man whose lethal injection was halted as officials failed to find a vein will try to block a second attempt.

AMERICAS

Russia hails US missile overhaul
Russian President Dmitry Medvedev welcomes the US move to shelve controversial missile defence bases in Europe.

Bid to halt US 'vein' execution
Lawyers for a US man whose lethal injection was halted as officials failed to find a vein will try to block a second attempt.

Jackson mother to get $1m a year
Court papers reveal that Michael Jackson's mother will receive more than $1m a year from the late singer's estate.

ASIA-PACIFIC

Burma appeal as detentions soar
Burma's Aung San Suu Kyi appeals against her latest sentence, as the military's political detentions double.

Station grabs Japanese freighter
Japan's new unmanned space freighter loaded with supplies is safely berthed to the International Space Station.

Australia debates citizens' tests
Australian MPs debate changes to controversial citizenship tests said to discriminate against non-English speakers.

EUROPE

Russia hails US missile overhaul
Russian President Dmitry Medvedev welcomes the US move to shelve controversial missile defence bases in Europe.

EU agrees on bonus claw-back call
EU leaders meeting Brussels agree to seek a global deal for bankers' bonuses to be clawed back if profits fall.

Italian forces die in Kabul blast
Six Italian soldiers and 10 civilians are killed in a bomb attack on a military convoy in the Afghan capital, Kabul.

MIDDLE EAST

Iran 'does not need' nuclear arms
Iran's president says his country does not need nuclear weapons, while insisting Iran will continue efforts for nuclear power.

Last US push for Mid-East talks
US envoy George Mitchell is to press Israel's PM for a settlement freeze, in an effort to facilitate talks with the Palestinians.

Israel warns of threats to India
Israel is warning that Islamist militants are preparing attacks in India similar to those in Mumbai last year, media and officials say.

UK

'Time against' Afghanistan forces
Troops in southern Afghanistan do not have time on their side, but success remains possible, a British major general says.

Cabinet discussing spending cuts
The chancellor has begun a series of meetings with cabinet colleagues to identify possible public spending cuts.

Unhealthy men 'may lose 10 years'
Many middle-aged male smokers with high blood pressure and cholesterol face dying 10 years early, a UK study suggests.

ENGLAND

Soldiers killed by blasts named
Tributes are paid to two British soldiers who have been named after being killed by separate explosions in Afghanistan.

Price contacted over rape claim
Police in Surrey make contact with glamour model Katie Price about claims that she was raped by an unnamed celebrity.

Manure dumped at Clarkson's home
Climate change protesters dump bags of horse manure at the home of BBC TV presenter Jeremy Clarkson.

POLITICS

Cabinet discussing spending cuts
The chancellor has begun a series of meetings with cabinet colleagues to identify possible public spending cuts.

Lib Dems urge Afghan policy shift
The war in Afghanistan cannot be won unless the international community's policies change, the Liberal Democrats say.

Green groups urging joint action
Eight leading UK environmental groups join forces to urge political parties to adopt a joint approach on green issues.

BUSINESS

EU agrees on bonus claw-back call
EU leaders meeting Brussels agree to seek a global deal for bankers' bonuses to be clawed back if profits fall.

Debt management may be regulated
The government launches a consultation into whether debt management companies should have greater regulation.

Growth in UK retail sales stalls
Retail sales growth stalls, casting doubt on the recovery in consumer spending, as John Lewis profits fall 20%.

ENTERTAINMENT

Jackson mother to get $1m a year
Court papers reveal that Michael Jackson's mother will receive more than $1m a year from the late singer's estate.

Price contacted over rape claim
Police in Surrey make contact with glamour model Katie Price about claims that she was raped by an unnamed celebrity.

Brown book breaks record in hours
Dan Brown's The Lost Symbol has sold more copies in 36 hours than any other adult hardback in the UK, publishers say.

SCIENCE/NATURE

Tiny ancestor is T. rex blueprint
A 3m-long dinosaur fossil from China which predates <I>T. Rex</I> by 60 million years is a blueprint for the mighty carnivore, say scientists.

Pause in Arctic's melting trend
This summer's melt of Arctic ice has been smaller than in the last two years, but the long-term trend is down, scientists report.

Station grabs Japanese freighter
Japan's new unmanned space freighter loaded with supplies is safely berthed to the International Space Station.

HEALTH

Unhealthy men 'may lose 10 years'
Many middle-aged male smokers with high blood pressure and cholesterol face dying 10 years early, a UK study suggests.

Call to get tough on eating sites
Psychiatrists call for urgent action to protect vulnerable young people from eating-disorder websites.

NHS heart care 'must get better'
There needs to be a renewed drive to tackle cardiovascular disease, the health regulator says.

EDUCATION

Unions considering Sats boycott
Teaching unions are to consult their members on whether they are prepared to back a boycott of national tests in England.

'50,000 students' in loan delays
The Student Loans Company says as many as 50,000 students in England might not get all their money until mid or late October.

'Bonus culture' entering schools
A teachers' leader warns of an unwelcome bonus culture creeping into head teachers' pay.

ON THIS DAY NEWS FROM THE BBC ARCHIVES

1961: UN Secretary General killed in air crash
The body of UN Secretary General Dag Hammarskjold is identified among the wreckage of a plane which crashed last night outside the Northern Rhodesian town of Ndola.

1978: Arab-Israeli breakthrough in US
The leaders of Israel and Egypt reach a settlement for the Middle East at Camp David in the US.

1970: Rock legend Hendrix dies after party
Rock guitarist Jimi Hendrix dies after collapsing at a party in London.

DON'T MISS

Swine Flu and You
A Panorama special report on everything you need to know about the risks. WEDNESDAY, BBC ONE, 9pm.

OPTIONS AND HELP

Copyright BBC 2005

Rewarding Bad Actors - NYT

2009-08-04T13:26:00.001-04:00

August 3, 2009

Op-Ed Columnist

Rewarding Bad Actors

By PAUL KRUGMAN

Americans are angry at Wall Street, and rightly so. First the financial industry plunged us into economic crisis, then it was bailed out at taxpayer expense. And now, with the economy still deeply depressed, the industry is paying itself gigantic bonuses. If you aren't outraged, you haven't been paying attention.

But crashing the economy and fleecing the taxpayer aren't Wall Street's only sins. Even before the crisis and the bailouts, many financial-industry high-fliers made fortunes through activities that were worthless if not destructive from a social point of view.

And they're still at it. Consider two recent news stories.

One involves the rise of high-speed trading: some institutions, including Goldman Sachs, have been using superfast computers to get the jump on other investors, buying or selling stocks a tiny fraction of a second before anyone else can react. Profits from high-frequency trading are one reason Goldman is earning record profits and likely to pay record bonuses.

On a seemingly different front, Sunday's Times reported on the case of Andrew J. Hall, who leads an arm of Citigroup that speculates on oil and other commodities. His operation has made a lot of money recently, and according to his contract Mr. Hall is owed $100 million.

What do these stories have in common?

The politically salient answer, for now at least, is that in both cases we're looking at huge payouts by firms that were major recipients of federal aid. Citi has received around $45 billion from taxpayers; Goldman has repaid the $10 billion it received in direct aid, but it has benefited enormously both from federal guarantees and from bailouts of other financial institutions. What are taxpayers supposed to think when these welfare cases cut nine-figure paychecks?

But suppose we grant that both Goldman and Mr. Hall are very good at what they do, and might have earned huge profits even without all that aid. Even so, what they do is bad for America...

From Brands to Bond with MK12, OnDesign digs 3D with Rhonda and more

2009-07-30T20:14:00.001-04:00

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Creativity

July 30, 2009
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Doctors Without Borders: Boy

A powerful message for an important cause.

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Parent-submitted Flickr photos of their babies' poopfaces.

Samsung: The Last Call

A silent dance marathon.

MK12: From Kansas With Love

Meet the motion graphics magicians from the Midwest.

» Read more

OnDesign: 3D Drawing with Rhonda

This little video demo of the 3D drawing tool Rhonda has made its way around the internet this week, and I still haven't tired of watching it. By Jennifer Bove

» Read more

Feedbag: Rolling Stones Remixed, A Collection of Jury Rigs and the Legend of International Trucks

Reading Mick Jagger's lips, a photo archive of amateur Mr. Fix-Its and appreciating the heritage of a classic brand.

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Agency: McCann Erickson, New York

02
Fruit By The Foot: Replacement

Agency: Saatchi & Saatchi, New York

03
Ghostly: Discovery App

04
Samsung: Bungee Elephants

Agency: The Viral Factory

05
Tappening: Puppies

Agency: DiMassimo Goldstein

06
N.A.S.A: Whachadoin?

07
Stella McCartney: Bambi

08
Stella Artois: Piano

Agency: Mother, London

09
Virgin Media: Backlot

Agency: RKCR/Y&R

10
Grolsch: Walk the Line App

Old Spice: Swaggerize Your Wallet
Swaggerized arms in action.
Cadbury: You're Right
For the girl who has everything.
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Jim Beam: Never Change
Some things always stay the same.
AMC: Mad Men Yourself
Make your own Mad Men avatar.
Truth: What It Takes
Best Buy: Twelpforce
Customer service via Twitter.

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02 Grolsch: Walk the Line App

03 Jim Beam: Air Guitar

04 Fruit By The Foot: Replacement

05 Petronas: Tan Hong Ming

01 We're Coming, Europe: CaT London on November 19

02 Guest Review: Iain Tait

03 Yasmin Ahmad Passes Away

04 Feedbag: AdViews at Duke University, Tron Legacy trailer and William Shatner interprets Sarah Palin.

05 CaT Video: Open Source Everything

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Today's Paper: Europe

2009-07-28T10:50:00.001-04:00

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July 28, 2009 -- 5:30 a.m.

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PAGE ONE

A1
Lloyds Taps Bischoff for Chairman

Lloyds named Win Bischoff, formerly of Citigroup, as its new chairman. He takes the post as the bank tries to recover from its purchase of HBOS.

• Randomly Noted: What Does Bischoff Offer?

• Earlier: Bischoff Among Lloyds Candidates

FTSE Matches Its record for a Rally

Britain's stock market matched its record for the most consecutive positive trading sessions -- and many investors expect the gains to continue.

Speculators Cleared in U.K. Oil Volatility

Britain's financial regulator has found no evidence that speculators are behind big swings in oil prices, as politicians in the U.S., the U.K. and elsewhere have suggested.

• FSA to Broaden Rules on Scrutiny of Financial Firms

A2
• U.K. Plan Adds Traders to Financial Oversight
• Report Says U.K. Faces Tough Job to Pare Deficit
• U.K. Plan Adds Traders to Financial Oversight

A3
• Euro-Zone Private-Sector Loan Growth Slows Further
• U.K. Urges Kabul to Reconcile With Moderate Taliban
• Long Drive Ends in Car Trouble for German Minister
• EU Speeds Iceland's Application

CORPORATE NEWS

A4
Pandit Affirms Citigroup's Faith in Asia

Citigroup CEO Pandit said the bank wouldn't retreat from its fast-growing Asian business despite the financial crisis.

GM Treasurer Expects to Get Additional Energy Funding

GM Treasurer Walter Borst said the auto maker expects billions in additional Energy Department funding now that the auto maker is "viable."

A5
• Ryanair Swings to Profit
• Videogame Makers Can't Dodge Recession
• LVMH Earnings Drop as Slump Tarnishes Watches, Jewelry
• Bidding for Lacroix Fuels Hopes of Survival

A6
• Pearson Net Strong, But Ad Sales Suffer
• Thomson Shares Jump After Deal to Revamp Debt

A7
• Tata Motors Reports Sharp Gain
• Aetna Lowers 2009 Outlook

A8
• GDP Data Likely to Herald an Upturn

ECONOMY AND POLITICS

A9
U.S., China Tackle Prickly Issues

Obama kicked off talks with Chinese officials, calling for cooperation on the economy, climate change and weapons.

• Text: Obama's opening remarks | Video

• Opinion: Clinton, Geithner on dialogue with China

• Vote: What's most important in U.S.-China relations?

U.S., Israel Divide on Iran Nuclear Program

Israeli officials warned of a possible strike against Iran's nuclear facilities as Gates, on a visit to Israel, urged continued diplomatic engagement.

• U.S. Pushes Israel-Syria Talks

Iraqi Kurds Split by Regional Vote

Kurdish opposition parties won nearly one-third of the vote in regional elections, according to preliminary tallies.

Ghana Signs Development Deal With International Oil Firms

Ghana signed a long-awaited development plan with a group of international oil companies for one of the biggest oil discoveries in West Africa in the past decade.

A10
• Meager Monsoon Threatens Indian Growth
• Singh Defends Effort to Improve Ties With Pakistan

A14
• 'Blue Dog' Democrats Hold Health-Care Overhaul at Bay

MARKETPLACE

A27
In a Mermaid Statue, Danes Find
Something Rotten in State of Michigan

A Danish arts society wants a statue of Hans Christian Andersen's "Little Mermaid" removed from a Michigan town.

Film Effects Are Battleground Between Chip Rivals

Nvidia and AMD are pushing new GPU technology as filmmakers seek more sophisticated techniques in generating special effects.

A28
• Back to the 9-to-5—Getting Rehired in a Tightening Market

A29
• Korean giants launch project to develop chips
• Samsung Enters Market For E-Book Readers
• Silverman to Depart His Post at NBC
• Honeywell Posts Drop in Earnings

A30
• Organic Foods Get on Private-Label Wagon
• EBay's Changes to Help Large Merchants

A31
• Anglo to Defend Anti-Merger Stanc as Shareholders Seek Signs of Value

View the latest What's News Online Past Editions of In Today's Paper

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11
Morality and Charlie Rangel's Taxes

Hillary's Burma Bow

Resisting Green Tariffs

12
• What's Chinese for .limitedgovernment?
• The Currency of Trade Balances

13
• ROBERTO MICHELETTI: The Path Forward for Honduras
• Do Companies Have Human Rights?

MONEY AND INVESTING

A17
U.S. Pay Czar to Rework Contracts Deemed High

The U.S. pay czar, now preparing to vet compensation at businesses receiving major federal aid, will push to renegotiate packages he views as excessive or seek other ways to reduce overall outlays.

• Readers React: 'Fire the czars'

Hungary Cuts Rates More Than Expected

Hungary cut its key interest rate to 8.5% from 9.5%, more than expected. The central bank said the move was justified by improving risk factors for Eastern Europe and Hungary, as well as an improving trade balance.

A18
• HEARD ON THE STREET: Help Wanted for Market Recovery
• Earnings Keep Lid on Stocks
• FTSE Matches Its record for a Rally
• HEARD ON THE STREET: Chinese Loan Boom's Weak Foundation

A19
• U.S. Issues New Rules on Short-Selling
• CURRENCY TRADING: Dollar Rivals Hold Onto Gains
• CREDIT MARKETS: Treasury Prices Fall as Supply Looms
• Key London Rate Falls to Record Low in Dollars, Pound

A20
• In a Flash, Schumer Warns SEC
• Banco Popular's Net Profit Falls on Loan-Loss Provisions
• Julius Baer's Net Drops as Clients Remain Cautious

A21
• IMF and EU Agree on Loans for Latvia
• Japanese Shippers Report Losses
• Friends Rejects Revised Resolution Bid

A22
• Fervor Greets China IPO, Spurs Bubble Talk
• Nikkei Ends Above 10000

A23
• Enthusiasm Drives Copper's Comeback
• Bernanke Feared a Second Great Depression

Copyright 2009 Dow Jones & Company, Inc. All Rights Reserved.

The Banks Are Winning the War

2009-06-19T14:50:00.001-04:00

June 19 2009 2:42 PM |

Top Pros' Top Picks Editor's Note | 6/18/2009 1:20:00 PM

The Banks Are Winning the War

On Wednesday, with great fanfare, President Obama announced his administration's long-awaited, much-hyped overhaul of financial regulation.

Yet the stock market barely budged—it even rallied Thursday—and the response was muted in bank board rooms and on Wall Street trading floors. Why? Because the bankers knew they had dodged a bullet—big time.

Billed as the biggest reform of the financial system since the New Deal, the plan eliminates one regulator, creates another, gives more powers to the Federal Reserve to oversee financial institutions, and creates a council of top regulators to monitor systemic risk.

But it fell short of earlier proposals that would have overhauled a regulatory system that failed as completely as the financial markets did over the last couple of years. By declining to consolidate the banks' many regulators into a simpler, more effective core, the administration may have missed a once-in-a-generation opportunity to fix what was so obviously broken.

That's good news for the congressional barons who get to protect their turf—a key consideration in drafting this plan. But it's even better news for the financial industry and its powerful lobbying arm.

As Edward Luce wrote in Thursday's Financial Times: "Certainly, most of the financial sector lobby community is happy with what has emerged. 'The Treasury department consulted very widely and has produced a careful and balanced proposal,' says Scott Talbot, vice-president of the Financial Services Forum, a Wall Street lobby group."

Translation: We won.

The transformation has been astonishing. A few short months ago, bankers were being excoriated in front of congressional committees. The public's outrage over Wall Street compensation was boiling over. In response to the bonus scandal at AIG, Congress passed a ludicrous bill to tax up to 90% of employee bonuses in companies getting taxpayer help. Former Masters of the Universe were now whining about being misunderstood.

But now bankers have quietly won a series of victories on Capitol Hill and in Washington's corridors of power, where they've always done best...

The News in The Wall Street Journal

2009-06-14T19:47:00.001-04:00

Sunday, June 14, 2009

Top Business News

Iran's President Defends Poll

President Mahmoud Ahmadinejad said his re-election was "real and free," hours after battles between police and protesters broke out over poll results.

Six Flags Files for Chapter 11

Six Flags will be mostly owned by its lenders if a bankruptcy judge approves a deal negotiated between the company and its debt holders.

Pirate Threat Grows in Persian Gulf

Pirates commandeered a cargo ship in the territorial waters of Oman, dramatically extending their area of operation.

FBI Seeks to Target Lone Extremists

The killings of a Holocaust museum guard and a Kansas abortion doctor came a few months after the FBI stepped up efforts to pre-empt violence by extremists working alone.

Pyongyang Will Build Weapons

North Korea denounced new U.N. sanctions and said it would push forward with its nuclear weapons program anyway. Clinton called the North's provocations and statements "deeply regrettable."

Disease Prevention Provides No Cure-All

Cherry Cheer Fit for a Holiday Feast

A New Look at the Bag Scourge

California Inmate Plan Draws Ire

Two Helpings of Lonely Southern Splendor

South Korea's Bulldozer Heads for the White House

My Summer Music Tour

Video

Inside the Model Favela

Rio de janero is notorious for its favelas, sprawling slums that climb the edges of rainforest-topped mountains. Doña Marta is enjoying the government's efforts to clean the slums, including increased police presence and new infrastructure developments. But the cost has been the creation of a wall that some feel limits their access to the rainforest. Antonio Regalado reports.

Your daily e-mail from the BBC

2009-06-14T19:38:00.001-04:00

Sunday, 14 June, 2009, 5:00 GMT 01:00 -04:00:US/Eastern

TOP STORIES

Ahmadinejad defiant on 'free' Iran poll
Iran's President Mahmoud Ahmadinejad defends his "free" re-election, as violence erupts amid claims of fraud.

Trident move 'prompts confusion'
The UK's decision to renew its nuclear deterrent is seen by some states as a contradiction of its arms stance, MPs say.

Sextuplets 'are a gift from God'
The parents of Ireland's first ever set of sextuplets say they ignored medical advice to abort some of their foetuses.

Tories plan to scrap Sats at 11
The Tories are to announce proposals to scrap Sats taken by 11-year-olds at the end of primary school in England.

Israel PM to outline Middle East peace plan
Israeli Prime Minister Benjamin Netanyahu is set to outline his policy for Middle East peace in a major speech, officials say.

WORLD

Ahmadinejad defiant on 'free' Iran poll
Iran's President Mahmoud Ahmadinejad defends his "free" re-election, as violence erupts amid claims of fraud.

Israel PM to outline Middle East peace plan
Israeli Prime Minister Benjamin Netanyahu is set to outline his policy for Middle East peace in a major speech, officials say.

Stars attend Carradine's funeral
Hollywood stars are among hundreds at the LA funeral of Kung Fu star David Carradine, who died in Bangkok last week.

AMERICAS

Obama outlines healthcare savings
US President Barack Obama announces a further $313bn (£190bn) in proposed savings to help reform US healthcare.

Cuba dissident flies to Argentina
A leading Cuban dissident flies to Argentina after authorities grant permission for her to visit relatives.

Stars attend Carradine's funeral
Hollywood stars are among hundreds at the LA funeral of Kung Fu star David Carradine, who died in Bangkok last week.

ASIA-PACIFIC

US condemns North Korean threat
North Korea's threat to "weaponise" its plutonium stocks is deeply regrettable, says US Secretary of State Hillary Clinton.

Australians demand climate action
Thousands of demonstrators rally across Australia to demand greater government action on climate change.

Love epic tops Bollywood awards
The Indian historical epic film Jodhaa Akbar, about Muslim-Hindu relations, dominates an Indian film awards ceremony.

EUROPE

Spanish Civil War bodies exhumed
Seven bodies are removed from Spanish Civil War graves in the first of possibly thousands of court-ordered exhumations.

Lawyer challenges Knox testimony
An American student accused of killing her British housemate Meredith Kercher is cross-examined for a second day.

EU's Solana meets Hezbollah in Beirut
A senior EU official holds talks for the first time with a politician from the Lebanese Hezbollah movement.

MIDDLE EAST

Ahmadinejad defiant on 'free' Iran poll
Iran's President Mahmoud Ahmadinejad defends his "free" re-election, as violence erupts amid claims of fraud.

Israel PM to outline Middle East peace plan
Israeli Prime Minister Benjamin Netanyahu is set to outline his policy for Middle East peace in a major speech, officials say.

EU's Solana meets Hezbollah in Beirut
A senior EU official holds talks for the first time with a politician from the Lebanese Hezbollah movement.

UK

Trident move 'prompts confusion'
The UK's decision to renew its nuclear deterrent is seen by some states as a contradiction of its arms stance, MPs say.

Tories plan to scrap Sats at 11
The Tories are to announce proposals to scrap Sats taken by 11-year-olds at the end of primary school in England.

Sextuplets 'are a gift from God'
The parents of Ireland's first ever set of sextuplets say they ignored medical advice to abort some of their foetuses.

ENGLAND

Briton speaks of hostage ordeal
A Briton held hostage in southern Nigeria tells the BBC how he feared he might never be released, but praises the villagers who ended up looking after him.

Tories plan to scrap Sats at 11
The Tories are to announce proposals to scrap Sats taken by 11-year-olds at the end of primary school in England.

Yachtsman's dream trip in ruins
A yachtsman tells how his "trip of a lifetime" was ruined when his boat's engine failed, causing the vessel to hit rocks off Dorset.

POLITICS

Tories plan to scrap Sats at 11
The Tories are to announce proposals to scrap Sats taken by 11-year-olds at the end of primary school in England.

Trident move 'prompts confusion'
The UK's decision to renew its nuclear deterrent is seen by some states as a contradiction of its arms stance, MPs say.

Miliband claims 'divide Labour'
Labour's former deputy leader John Prescott has accused Foreign Secretary David Miliband of "feeding disunity".

BUSINESS

Big economies 'stabilising' - G8
G8 finance ministers say major economies are beginning to stabilise but warn that it is too early to halt economic stimulus.

Rate-setter Blanchflower honoured
David Blanchflower, the Bank of England official who predicted the recession, is made a CBE in the Birthday Honours list.

Offer made for stake in Setanta
US investor Len Blavatnik is offering £20m for a 51% stake in the troubled Irish pay-tv channel Setanta.

ENTERTAINMENT

Blur triumph in tiny comeback gig
Britpop heroes Blur begin their comeback at the scene of their first ever concert, playing to just 150 people.

Malawi welcomes Madonna adoption
The decision to grant Madonna the right to adopt four-year-old Chifundo "Mercy" has been warmly received in Malawi.

Stars attend Carradine's funeral
Hollywood stars are among hundreds at the LA funeral of Kung Fu star David Carradine, who died in Bangkok last week.

SCIENCE/NATURE

Endeavour shuttle launch delayed
The launch of space shuttle Endeavour is postponed hours before take-off due to a hydrogen leak, Nasa says.

Science policy scrutiny 'at risk'
"Science could be lost in a black hole" if the government fails to establish a House of Commons science and technology committee, say MPs.

Net injury 'disables' minke whale
A minke whale scarred by fishing gear is seen feeding in a way never before recorded.

HEALTH

Anger over wrong embryo blunder
A health trust admits gross failures in care after a couple's last viable embryo was implanted mistakenly into another patient.

Discovery could ease cancer pain
A breakthrough could lead to drugs to alleviate the pain which is experienced by cancer patients.

NHS staff in Queen's honours list
A host of doctors, nurses and other NHS staff have been recognised in the the Queen's birthday honours list.

EDUCATION

Tories plan to scrap Sats at 11
The Tories are to announce proposals to scrap Sats taken by 11-year-olds at the end of primary school in England.

Teachers 'swamping job vacancies'
Hundreds of teachers are struggling to find work in Scotland and are leaving the country, Labour claims.

Knighthoods for university heads
Staff working in schools and universities account for a tenth of the Queen's Birthday Honours list, including four knighthoods.

ON THIS DAY NEWS FROM THE BBC ARCHIVES

1940: German troops enter Paris
German troops march into Paris forcing French and allied troops to retreat.

1982: Ceasefire agreed in Falklands
A ceasefire between British and Argentine forces on the Falkland Islands is agreed, the prime minister announces.

1991: Iraqi Kurds fear US troop withdrawal
More than a thousand Kurds besiege a US military base near the northern Iraqi city of Dohuk, pleading with American troops not to withdraw.

OPTIONS AND HELP

Copyright BBC 2005

Your daily e-mail from the BBC

2009-06-02T06:37:00.003-04:00

Tuesday, 02 June, 2009, 5:00 GMT 01:00 -04:00:US/Eastern

TOP STORIES

Atlantic searched for lost plane
Rescuers from several nations search waters deep in the Atlantic for an airliner missing since Monday with 228 on board.

Hoon sorry for expenses 'error'
Transport Secretary Geoff Hoon is the latest cabinet minister to repay money he claimed on his designated second home.

Obama gives pledge on US 'values'
US President Barack Obama tells the BBC the US cannot impose its values on other countries, ahead of a Middle East visit.

MPs in knives 'arms race' warning
An MPs' committee says a knife-crime "arms race" has developed with young people carrying knives because they fear others may do so too.

N Korea 'names Kim's successor'
Media reports from South Korea say North Korean leader Kim Jong-il has chosen his youngest son to succeed him.

WORLD

Atlantic searched for lost plane
Rescuers from several nations search waters deep in the Atlantic for an airliner missing since Monday with 228 on board.

Obama gives pledge on US 'values'
US President Barack Obama tells the BBC the US cannot impose its values on other countries, ahead of a Middle East visit.

N Korea 'names Kim's successor'
Media reports from South Korea say North Korean leader Kim Jong-il has chosen his youngest son to succeed him.

AMERICAS

Atlantic searched for lost plane
Rescuers from several nations search waters deep in the Atlantic for an airliner missing since Monday with 228 on board.

Obama gives pledge on US 'values'
US President Barack Obama tells the BBC the US cannot impose its values on other countries, ahead of a Middle East visit.

Salvador leftist leader sworn in
Left-wing former journalist Mauricio Funes restores ties with Cuba hours after being sworn-in as president of El Salvador.

ASIA-PACIFIC

N Korea 'names Kim's successor'
Media reports from South Korea say North Korean leader Kim Jong-il has chosen his youngest son to succeed him.

New Zealand 'Pumpkin' trial opens
A man who abandoned his toddler daughter in Australia goes on trial in New Zealand for the murder of his wife.

Geithner assures China investors
Treasury Secretary Timothy Geithner tells China's government its huge investments in the US are "very safe".

EUROPE

Atlantic searched for lost plane
Rescuers from several nations search waters deep in the Atlantic for an airliner missing since Monday with 228 on board.

Fiat to acquire Chrysler assets
US car group Chrysler secures court approval for a consortium led by Italy's Fiat to take over its assets.

Finland charges Rwandan suspect
Finland charges a former preacher at a Baptist church in Rwanda with genocide for his alleged role in the 1994 killings.

MIDDLE EAST

US deaths in Iraq rise sharply in May
US military confirms 24 service personnel were killed in Iraq in May, the highest total since September 2008.

Jewish settler attack injures Palestinians
Several Palestinian workers have been hurt in an attack by a group of Israeli settlers in the northern West Bank.

Goldstone's UN inquiry team arrives in Gaza
A UN team investigating possible war crimes in Gaza, led by Richard Goldstone, arrives in the territory from Egypt.

UK

Hoon sorry for expenses 'error'
Transport Secretary Geoff Hoon is the latest cabinet minister to repay money he claimed on his designated second home.

Search for Britons on lost plane
A search is continuing for five Britons who were on board an Air France plane which disappeared over the Atlantic.

BT accused of download throttling
BT is accused of limiting speeds for video services like iPlayer on its cheapest package without a clear warning to users.

ENGLAND

Paris hotel death suspect quizzed
Police continue to question a man over the death of Kinga Legg, whose body was found at a Paris hotel.

Missing chef's family in TV plea
The family of chef Claudia Lawrence, missing for more than 10 weeks, appeal for news of her whereabouts on Crimewatch.

Anger at hotel leap case secrecy
The Foreign Office is branded "a disgrace" for its handling of the case of a man who leapt from a hotel balcony with his children.

POLITICS

Hoon sorry for expenses 'error'
Transport Secretary Geoff Hoon is the latest cabinet minister to repay money he claimed on his designated second home.

MPs in knives 'arms race' warning
An MPs' committee says a knife-crime "arms race" has developed with young people carrying knives because they fear others may do so too.

Lib Dem apology over swear word
Liberal Democrats apologise for a campaign leaflet which uses a swear word to describe a Cornish nationalist candidate.

BUSINESS

GM enters bankruptcy protection
Car giant General Motors files for bankruptcy protection, the biggest industrial failure in US corporate history.

Bank regulation system 'failed'
The tripartite system of bank regulation and supervision failed and must be reformed, a House of Lords committee says.

Markets up on good economic news
Encouraging economic data from China, the US and the UK sends stock markets rising around the world.

ENTERTAINMENT

Stage legend La Rue dies at 81
Danny La Rue dies at his home following a short battle with cancer.

Talent star Boyle taken to clinic
Susan Boyle is taken to a private clinic after coming second to dance troupe Diversity in Britain's Got Talent.

Twilight leads way at MTV awards
Vampire drama Twilight takes five trophies including best film at the MTV Movie Awards in Los Angeles.

SCIENCE/NATURE

'Oldest pottery' found in China
Archaeologists have found pottery dating to between 17,500 and 18,300 years ago at a cave in south-east China.

Droppings put penguins on the map
Scientists locate 38 emperor penguin colonies in Antarctica using satellites to look for stains from the animals' droppings.

Distant world circles tiny star
A distant "sun" residing in the constellation Aquila has become the smallest star known to host a planet.

HEALTH

Woman set for suicide appeal bid
A woman with multiple sclerosis is urging the House of Lords to clarify the law on assisted suicide.

Transport for dialysis 'failing'
Hospital transport services for many kidney patients who need dialysis treatment are not up to scratch, a report finds.

Drug hope for advanced melanoma
Scientists say they have developed a drug that can treat the deadliest form of skin cancer in its most advanced stages.

EDUCATION

Visa warning from private schools
Tighter immigration rules to tackle bogus colleges will make it harder to recruit pupils from abroad, say private schools.

Degrees maintain job market value
The significant increase in students going to university in the past two decades has not damaged graduates' earning power, suggests research.

School reopens after flu outbreak
A West Midlands primary school which closed early for half-term after pupils contracted swine flu, reopens after lengthy cleaning.

ON THIS DAY NEWS FROM THE BBC ARCHIVES

1953: Queen Elizabeth takes coronation oath
Queen Elizabeth II is crowned at a coronation ceremony in Westminster Abbey in London.

1979: Millions cheer as the Pope comes home
The Pope is greeted by two million people as he sets foot on his native soil of Poland.

1994: MI5 officers killed in helicopter crash
Twenty of Britain's top intelligence experts are killed when a RAF helicopter crashes on the Mull of Kintyre.

OPTIONS AND HELP

Today The Wall Street Journal

2009-05-06T07:05:00.001-04:00

Wednesday, May 06, 2009

Top Business News

Washington Asserts Loyalty to Zardari

The White House said it fully backs Pakistan's president as Zardari and the Afghan leader arrived for talks.

Hottest Role in Bollywood: Politician

Bollywood actors turned politicians have been around almost as long as Indian democracy. But this year, parties are relying more on celebrity power than ever before.

Condition Is Set for Banks' TARP Exit

Banks seeking to repay TARP funds will have to show they don't need an FDIC program, U.S. officials said.

Bernanke Foresees Slow Recovery

Bernanke said growth is likely to resume later this year on the back of firmer household spending, a bottoming housing market and an end to inventory liquidation. (Remarks)

Texas Woman Second to Die of Flu in U.S.

A woman living near the Mexican border became the second person in the U.S. to die flu. The CDC reversed a recommendation that schools close if they have sick children.

Holding College Chiefs to Their Words

Leagues Favor the Fleetest Feet

A Film Romance Reimagined Musically

What's Really in Many 'Healthy' Foods

Maya Pottery and Politics

Taking a Stand in the Grandstands

Giving Internships a Post-College Try

Video

Bollywood Actors Turn Politicians

Bollywood celebrities are running for office throughout India. Although some actor-politicians have since embarrassed their parties, another celebrity showdown is in the offing. Niraj Sheth reports.

InternetElectPress

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Somali pirates seize German-owned ship, 11 crew - AP/Yahoo News

2009-05-06T06:37:00.001-04:00

Somali pirates seize German-owned ship, 11 crew

Wed May 6, 5:23 AM ET

Somali pirates have hijacked a German-owned cargo in the Gulf of Aden, a maritime watchdog and a statement from the government of Antigua and Barbuda where the vessel is flagged said Wednesday. (AFP/Graphic)

Play Video AP – Raw video: US ship under pirate attack

By KATHARINE HOURELD, Associated Press Writer Katharine Houreld, Associated Press Writer 1 hr 13 mins ago

NAIROBI, Kenya – Somali pirates have seized a German-owned ship with its 11 Romanian crew members in the Gulf of Aden, a U.S. Navy spokesman said Wednesday.

The Antigua and Barbuda-flagged cargo ship, the MV Victoria, was captured Tuesday afternoon in an area 75 miles (120 kilometers) south of Yemen, said Lt. Nate Christensen, a spokesman for the Bahrain-based U.S. 5th Fleet.

He had no information on the condition of the crew. There are now 19 ships being held by Somali pirates.

Piracy has exploded off Somalia in recent years as the bandits continue to get ransoms in the millions of dollars. It is perhaps the biggest moneymaker in Somalia because the pirates almost always get paid.

The pirates' wealth is all the more shocking considering Somalia's poverty. There has been no effective central government in nearly 20 years, plunging the arid country into chaos. Nearly every public institution has crumbled...

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Banks returning bailouts will face conditions - AP/Yahoo News

2009-05-06T06:31:00.000-04:00

Banks returning bailouts will face conditions

Sun Apr 19, 10:22 PM ET

People enter First National Bank in Staunton, Ill., Wednesday, April, 8, 2009. The FDIC received a written response from this bank and thousands of others across the nation, overwhelmingly from small bankers, protesting the proposed special assessment the government wants to levy against all banks to shore up the FDIC fund, which is being drained by bank failures. (AP Photo/Seth Perlman)

Play Video Reuters – Business Update: A "good" bank?

By JIM KUHNHENN, Associated Press Writer Jim Kuhnhenn, Associated Press Writer 11 mins ago

WASHINGTON – Banks that want to pay back their federal bailout funds and free themselves from government restrictions on compensation and dividends will have to sever their ties to another financial assistance program.

Financial firms eager to return infusions from the $700 billion Troubled Asset Relief Program will have to demonstrate that they can operate without debt guarantees provided by the Federal Deposit Insurance Corp., a senior government official said Tuesday. The FDIC program allows financial institutions to borrow money at lower costs.

The new requirement will make it harder for some institutions to get out from under government rules attached to the bailouts, another shift in a changing landscape for banks. It also illustrates the government's desire not to have banks abandon the bailout program if they are not financially prepared to do so.

The official spoke on condition of anonymity because the standards have not been made public. The Treasury and the Federal Reserve are expected to issue TARP repayment guidelines on Wednesday, a response to banks that want to get out from under bailout conditions. The change was first reported Tuesday evening by The Wall Street Journal.

By linking the two programs, the government could motivate banks to cut themselves off from the various assistance programs that it put in place to unclog credit and free up lending in the midst of the financial crisis...

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Buffett: No outright currency positions - Market Watch

2009-05-04T12:11:00.001-04:00

Buffett: No outright currency positions

By Alistair Barr

Last update: 5:37 p.m. EDT May 3, 2009

OMAHA, Nebraska (MarketWatch) -- Berkshire Hathaway (BRKA

Berkshire Hathaway Inc

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Political Punch - ABC

2009-05-04T11:35:00.001-04:00

Political Punch

Power, pop, and probings from ABC News Senior White House Correspondent Jake Tapper

Jake Tapper is ABC News' Senior White House Correspondent based in the network's Washington bureau. He writes about politics and popular culture and covers a range of national stories.

Is Sen. Susan Collins a Member of an Endangered Species?

May 01, 2009 7:08 PM

On this week's ABC News Shuffle Podcast, Sen. Susan Collins, R-Maine, talks candidly about the party-switch of Sen. Arlen Specter, D-Penn., her worries about her party and why she shouldn't be attacked for helping to remove money to combat the flu from the stimulus package.

You can listen to the podcast HERE or on iTunes. The Shuffle is produced by Huma Khan.

"I was really stunned by his decision and it took me completely by surprise," the Maine senator says of Specter's announcement. "I would not have been surprised had he announced that he was retiring and I would've been less surprised if he'd announced he was going to become an independent but continued to caucus with our party. But I was shocked that he became a Democrat."

Collins said that "there's no doubt that this was a political calculation as he freely and forthrightly admitted, but I also think that being Republican had become increasingly uncomfortable for him and that's the part that really concerns me."...
--
IE~

Alaska volcano shows increased unrest - AP/Yahoo News

2009-05-04T08:02:00.001-04:00

Alaska volcano shows increased unrest

Sat Apr 4, 9:08 PM ET

An eruption plume rises above Mount Redoubt volcano, 50 miles across Cook Inlet from Kenai, Alaska, on Saturday, April 4, 2009. The 10,197-foot mountain had another explosive eruption at 6 a.m. and has continued to emit ash and steam throughout the day, according to the Alaska Volcano Observatory. (AP Photo/Peninsula Clarion, M. Scott Moon)

Slideshow:Alaska volcano Mount Redoubt erupts

By MARY PEMBERTON, Associated Press Writer Mary Pemberton, Associated Press Writer Sun May 3, 9:44 pm ET

ANCHORAGE, Alaska – Mount Redoubt showed increased unrest Sunday as the volcano continued to rumble and grumble and produced a substantial ash and steam plume.

On Sunday, scientists said there was a marked increase of seismicity at the volcano about 100 miles southwest of Anchorage.

"It is a bit dynamic right now," said Stephanie Prejean, a geophysicist with the U.S. Geological Survey at the Alaska Volcano Observatory.

Prejean said the day began with more continuous ash emissions. In the afternoon, there was an ash and steam plume that went to 18,000 feet.

The volcano has been in what is called a dome-building phase as it grows a lava dome in its crater.

The dome has grown considerably in recent weeks, observatory scientists said. A tongue of lava now has advanced about 550 yards down the Drift Glacier Gorge.

The volcano had its last major explosion on April 4. Since then, the dome has been growing. It first erupted on March 22. That was followed by numerous large explosions, some sending ash plumes more than 50,000 feet into the air.

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