Breaking News Sat., May 29, 2010

Date: Sat, 29 May 2010 15:36:03 -0700 (PDT)

BP Official Says 'Top Kill' Effort Fails to Plug Gushing Gulf Oil
Well; Will Try Something Else [6:20 p.m. ET]

International Headlines

Date: Sat, 29 May 2010 20:02:06 -0400
>TOP STORIES as of 0800 HKT -- 30 May, 2010

> 'TOP KILL' HAS FAILED, BP SAYS
The "top kill" attempt to stop the flow of oil from a ruptured
well in the Gulf of Mexico has failed, BP's chief operating
officer said.

> NEW UK MINISTER QUITS AMID SCANDAL
The Cabinet minister responsible for slashing Britain's
crippling deficit has admitted using taxpayers' money to rent
rooms from his male partner, as the expenses scandal came back
to haunt the new coalition government.

> 'EASY RIDER' ACTOR DENNIS HOPPER DIES
Dennis Hopper, the one-time Hollywood enfant terrible who
portrayed such indelible characters as "Easy Rider's" biker
Billy, "Blue Velvet's" huffing villain Frank Booth and
"Hoosiers' " forlorn Shooter Flatch, died of prostate cancer
Saturday morning at his home in Venice, California, his wife
said. He was 74.

> N. KOREA: SOUTH FABRICATED EVIDENCE
A North Korean official has questioned South Korea's credibility
for its rhetoric and actions over the sinking of a South Korean
warship in March, state-run media in North Korea reported
Saturday.

> HUNT FOR JAMAICAN 'DRUG KINGPIN' TO RESUME
Security forces in Jamaica will renew a push to arrest an
accused drug lord at the center of violence that has left 76
people dead, a senior police official says.

> 2 MALAWI GAYS SPARED 14-YEAR SENTENCE
The president of Malawi has pardoned two gay men who were
sentenced to 14 years in prison this month for gross indecency
and unnatural acts, the country's solicitor general, Anthony
Kamanga, said Saturday.

> MISSING WOMEN COPS FIND 'REMAINS'
Police in England recovered what they believe to be human
remains Saturday near the spot where they recently found the
body of Suzanne Blamires, who was reported missing this week.

> ROBBERS DOPE IRAQ BANKERS, STEAL $5.5M
Robbers stole $5.5 million from an Iraqi state bank after giving
guards tea laced with a sleeping drug, the Interior Ministry
said.

BUSINESS
~~~~~~~~~~~

> SECOND BA STRIKE LOOMS AS TALKS FAIL
A second five-day strike by British Airways cabin crew members
was set to start Sunday after talks between the union and the
airline failed, mediators said.

> BP'S 'ENVIRONMENTAL CATASTROPHE'
BP resumed pumping heavyweight drilling mud in its attempt to
cap a breached oil well in what the company's top executive
admitted as an "environmental catastrophe."l

> FITCH SLASHES SPAIN'S CREDIT RATING
Fitch downgraded Spain's sovereign debt to a lower investment
grade Friday, adding to continued concerns about European
contagion.

Tropical storm nears Guatemala, Mexico coasts

Date: 29 MAY 2010 20:14:49 GMT

5/29/2010 4:14:00 PM ET
Agatha, the first named tropical storm of the 2010 season, moved
slowly toward the Guatemala coast, while heavy rains and gusty winds
already affected the southeastern part of Mexico, the National Oceanic
and Atmospheric Administration said Saturday.

Breaking News Sat., May 29, 2010

Date: Sat, 29 May 2010 10:36:47 -0700 (PDT)

Actor and Director Dennis Hopper Dies at 74 [1:15 p.m. ET]

International Headlines

Date: Fri, 28 May 2010 20:02:04 -0400
>TOP STORIES as of 0800 HKT -- 29 May, 2010

> SCORES KILLED IN LAHORE MOSQUE ATTACKS
At least 80 people are dead and scores more injured in Lahore,
Pakistan, following attacks on two mosques used by the
marginalized Ahmadi religious minority.

> SUSPECTED DRONE KILLS 12 IN PAKISTAN
A suspected U.S. drone strike killed 12 militants and wounded
four others Friday afternoon in Pakistan's tribal region,
intelligence officials said.

> BP: SPILL IS 'ENVIRONMENTAL CATASTROPHE'
A top BP official upgrades his assessment of the environmental
impact of the Gulf oil spill from modest to catastrophic, as the
company resumes efforts to plug the leak.

> 'STROKES' STAR GARY COLEMAN DIES AT 42
Former child star Gary Coleman, who rose to fame as the
wisecracking youngster Arnold Jackson on the TV sitcom
"Diff'rent Strokes" but grew up to grapple with a troubled
adulthood, has died. He was 42.

> SABOTAGE CLAIM IN INDIA TRAIN CRASH
Indian authorities investigating a double train crash in the
country's east say it appears the track was sabotaged shortly
before the collision killing 56 people.

> CHINA STEPS BACK FROM KOREA STANDOFF
China's premier arrived in South Korea to meet with the
country's president Friday as regional tensions mounted.

> LETTER TO POPE URGES END TO CELIBACY
About a dozen Italian women have posted an open letter to the
pope on the internet in which they claim to have had intimate
relationships with priests and urge the church to abolish
celibacy for Catholic clergy.

> AID ACTIVISTS VOW TO DEFY GAZA BLOCKADE
Defying Israel's controversial blockade, a flotilla of
pro-Palestinian activists are vowing to come face-to-face with
Israeli forces to deliver supplies to Gaza, a Free Gaza Movement
organizer said.

BUSINESS
~~~~~~~~~~~
> CHINESE FACTORY SUICIDE MYSTERY
Liang Chao was a typical farmer's son who migrated to the city
seeking a better life. So why did this employee of Foxconn --
which makes products for Apple, Dell, Hewlett-Packard and other
companies -- kill himself?

> SPAIN'S CREDIT RATING SLASHED
Fitch downgraded Spain's sovereign debt to a lower investment
grade Friday, adding to continued concerns about European
contagion.

> FOXCONN TO RAISE WAGES BY 20 PERCENT
Foxconn, the world's largest electronics contract manufacturer,
is planning to raise wages for its Chinese workers by about 20
percent after a spate of suicides at its main plant in southern
China put working conditions at its factories under
international scrutiny.

Markets, Friday, 05/28/2010

Date: Fri, 28 May 2010 17:31:03 -0400

|---------------------------------------------------------------------------|
|Dow : 10,136.63 down 122.36 | S & P : 1,089.41 down 13.65 |
|NASDAQ: 2,257.04 down 20.64 | Bond (10Y): 3.30% down 0.037
|---------------------------------------------------------------------------|

MARKETS:
Dow ends worst May in 70 years
Stocks slide after Fitch downgrades Spain's debt, keeping European
growth issues in focus at the end of a brutal month.

Dow drops 124 points Friday, finishing a losing month of May, on a Spanish debt downgrade.

Date: Fri, 28 May 2010 16:03:03 -0400

Dow drops 124 points Friday, finishing a losing month of May, on a
Spanish debt downgrade.

Five-star mutual funds don't live up to their past

Dae: Fri, 28 May 2010 12:00:52 -0400

FIVE-STAR MUTUAL FUNDS DON'T LIVE UP TO THEIR PAST
Many investors allocate money to funds by looking at products that
have four- or five-star ratings from investment researcher Morningstar
Inc., take that as a seal of quality, and hope for the best.

BEARISH SENTIMENT IS GOOD NEWS FOR INVESTORS
There's some good news for investors after weeks of whipsawed markets:
Bearish sentiment is at its highest in months.

CONGRESS MAY TWEAK SOME COLLEGE-SAVINGS-PLAN RULES
Parents are busy prepping their high-school graduates for college --
that should include catching up on the latest rules for 529 plans.

ENERGY REGULATOR GOES, OBAMA SAYS GULF TOP PRIORTY
The head of the controversial agency responsible for regulating
drilling the Gulf of Mexico, derided as too cozy with the energy
industry, quits just hours before scheduled congressional testimony.

BP 'SPILL COSTS TOP $900 MILLION
BP said Friday its price tag for the worst oil spill in U.S. history
climbed close to $1 billion as the firm continues its effort to plug
the blown out well that's been gushing at least 12,000 barrels a day
for five weeks.

U.S. income growth outpaces personal spending in April

Date: Fri, 28 May 2010 08:32:47 -0400

U.S. income growth outpaces personal spending in April
05/28/2010 08:30:59 AM EDT

Energy: BP 'spill costs top $900 million

Date: 28 MAY 2010 12:08:44 GMT

BP said Friday its price tag for the worst oil spill in U.S. history
climbed close to $1 billion as the firm continues its effort to plug
the blown out well that's been gushing at least 12,000 barrels a day
for five weeks.

Personal spending flat in April, government says, below analysts' forecasts of a gain. Personal income rises 0.4%.

Date: Fri, 28 May 2010 08:34:04 -0400

Personal spending flat in April, government says, below analysts'
forecasts of a gain. Personal income rises 0.4%.

Energy: Oil drilling stocks drop on offshore ban

Date: 28 MAY 2010 14:07:49 GMT

Oil drilling companies' shares fell hard Friday as the prospects for
an offshore exploration moratorium hung over the sector in the wake of
the Deepwater Horizon disaster in the Gulf of Mexico.

Stocks open lower on the last trading day of May. Dow slips 11 points. Nasdaq, S&P 500 shed 0.1%.

Date: Fri, 28 May 2010 09:33:04 -0400

Stocks open lower on the last trading day of May. Dow slips 11 points.
Nasdaq, S&P 500 shed 0.1%.

International Headlines

Date: Thu, 27 May 2010 20:02:04 -0400
>TOP STORIES as of 0800 HKT -- 28 May, 2010

> BP STOPS, RESTARTS 'TOP KILL' EFFORT
BP's attempt to cap its undersea gusher in the Gulf of Mexico
was suspended for more than 16 hours before it was restarted, a
BP executive said.

> NORTH KOREA THREATENS 'ALL-OUT WAR'
North Korea reacts to a South Korean anti-submarine exercise by
saying it will meet "confrontation with confrontation" and war
with "all-out war."

> LEBANON 'FIRES ON ISRAELI WARPLANES'
The Lebanese army fired its anti-aircraft guns on Israeli
warplanes Wednesday after what it said were repeated violations
of Lebanese airspace, state media reported.

> NEW ARREST IN TIMES SQ. BOMB PROBE
Another person has been taken into custody in connection with
the failed bombing attempt in New York's Times Square, a senior
intelligence official confirmed to CNN Thursday.

> ZIMBABWE TO GET 'FREE' NEWSPAPERS
Free speech activists in Zimbabwe are celebrating a breakthrough
for press freedom with the unity government's decision to award
licenses to four new daily newspapers.

> 12 DEAD AS FERRY CAPSIZES ON AMAZON
Rescue operations were set to continue Thursday in Peru after a
possibly overloaded ferry capsized in the Amazon River, killing
at least 12 of the officially listed 152 people on board, the
state-run Andina news agency reported.

> KIDNAPPED UK COUPLE PLEAD FOR RELEASE
A British couple kidnapped by Somali pirates in the Indian Ocean
last year said in a videotaped message they "desperately need"
new British Prime Minister David Cameron to clarify whether he
will work to secure their release.

> FRENCH WORKERS STRIKE OVER PENSIONS
France braced for more fallout Thursday from the government's
efforts to solve the country's debt problems, with thousands of
people striking and protesting around the country.

BUSINESS
~~~~~~~~~~~
> THE INTERNET IS RUNNING OUT OF ROOM
The Internet as we know it is reaching its limits.

> IS THE IPAD A GLOBAL GAME CHANGER?
As Apple's iPad is released in nine overseas markets on Friday,
industry watchers wonder if they are seeing the birth of a new
market or a geek niche product.

> LLOYD'S PUTS DOLLAR VALUE ON BP SPILL LOSS
As the BP oil spill continues to blacken waters in the Gulf of
Mexico and beyond, Lloyd's of London has issued its first
estimate of net claims from the disaster.

Markets, Thursday, 05/27/2010

Date: Thu, 27 May 2010 17:31:05 -0400

|---------------------------------------------------------------------------|
| Dow : 10,258.99 up 284.54 | S & P : 1,103.06 up 35.11 |
| NASDAQ: 2,277.68 up 81.80 | Bond (10Y): 3.34% up 0.120
|---------------------------------------------------------------------------|

MARKETS:
Stocks stage a big rally
Markets cheer after China says it will remain invested in European
debt. Dow surges 286 points. Nasdaq, S&P 500 gain more than 3%.

Stocks soar after China pledges support for European debt. Dow spikes 285 points; Nasdaq and S&P each climb over 3%.

Date: Thu, 27 May 2010 16:02:04 -0400

Stocks soar after China pledges support for European debt. Dow spikes
285 points; Nasdaq and S&P each climb over 3%.

U.S. stocks return to rally as China worries ebb

Date: Thu, 27 May 2010 12:00:57 -0400

U.S. STOCKS RETURN TO RALLY AS CHINA WORRIES EBB
U.S. stocks jumped Thursday as the market looked past slightly
disappointing U.S. economic data to seize on signs that the eurozone's
debt problems could be contained.

WHY ISN'T BP HALTED DURING 'TOP-KILL' PROCEDURE?
It's been murky trading BP during the Gulf of Mexico oil spill at the
best of times. There's a case to be made for halting the trade of its
shares.

BP: TOP KILL RESULTS AWAIT, SPILL ESTIMATE JUMPS
BP Plc expects to know by the end of the day if its "top kill"
maneuver stops the oil spewing from its ruptured well at the bottom of
the Gulf of Mexico, as the government officially hikes its flow
estimate of the spill.

ENERGY STOCKS JUMP, BP RALLIES
Energy stocks rise as the broader equities market rallies, with
Transocean and U.S.-listed shares of BP back in the spotlight amid
hopes for stanching the flow of oil from a ruptured well at the bottom
of the Gulf of Mexico.

U.S. WEEKLY INITIAL JOBLESS CLAIMS DROP TO 460,000
The number of first-time claims for unemployment benefits falls 14,000
to a seasonally adjusted 460,000 in the latest week, the Labor
Department says. The four-week average of initial claims -- a better
gauge of employment trends than the volatile weekly number -- rises
2,250 to 456,500. Jobless claims would have to fall to about 400,000
to indicate a strong hiring trend, economists say.

U.S. stock futures leap on China's denial of euro-zone bond sales

Date: Thu, 27 May 2010 05:56:37 -0400

U.S. stock futures leap on China's denial of euro-zone bond sales
05/27/2010 05:54:55 AM EDT

Obama to extend moratorium on offshore drilling

Date: Thu, 27 May 2010 04:23:53 -0600

WASHINGTON (AP) -- A White House aide has told the Associated Press
that President Obama will continue a moratorium on deepwater offshore
drilling for six months while a presidential commission investigates
the Gulf oil spill.

Obama on Thursday will also announce delays in drilling off the coasts
of Alaska and cancellations of pending lease sales off the Virginia
coast and in the Western Gulf.

First-time jobless claims fall 14,000 to 460,000; first-quarter economic growth revised down to 3% annual rate, government says.

Date: Thu, 27 May 2010 08:35:07 -0400

First-time jobless claims fall 14,000 to 460,000; first-quarter
economic growth revised down to 3% annual rate, government says.

U.S. economy grew at a 3% annual rate in the first quarter -- slightly less than originally reported, government says.

Date: Thu, 27 May 2010 08:33:04 -0400

U.S. economy grew at a 3% annual rate in the first quarter -- slightly
less than originally reported, government says.

Stocks rally at the open, with the Dow surging over 140 points in the first minute of trading. Nasdaq jumps 2.3%, S&P 500 gains 1.5%

Date: Thu, 27 May 2010 09:33:04 -0400

Stocks rally at the open, with the Dow surging over 140 points in the
first minute of trading. Nasdaq jumps 2.3%, S&P 500 gains 1.5%

International Headlines

Date: Wed, 26 May 2010 20:02:04 -0400
>TOP STORIES as of 0800 HKT -- 27 May, 2010

> BP CEO: 24 HOURS BEFORE 'TOP KILL' VERDICT
BP Chief Executive Officer Tony Hayward said it will be 24 hours
before authorities will know whether the "top kill" effort to
plug the runaway oil leak in the Gulf is working.

> CLINTON TO S. KOREA: 'WE STAND WITH YOU'
U.S. Secretary of State Hillary Clinton pledges Washington's
support for South Korea and calls on North Korea to end
belligerent actions amid high tensions.

> U.K. OFFERS NUCLEAR WEAPONS COUNT
Britain has a total nuclear arsenal of fewer than 225 weapons,
with 160 currently operational, Foreign Secretary William Hague
said Wednesday.

> DOZENS DEAD IN JAMAICA VIOLENCE
Jamaica's prime minister Wednesday rejected allegations that he
was "a known criminal affiliate" of a suspected drug lord,
calling them "libellous," "scurrilous" and "malicious."

> BOMBING TARGETS DANCE SHOW IN RUSSIA
A bombing outside a planned performance by a dance company from the
restive Russian republic of Chechnya left three women dead and wounded
several other people Wednesday evening, prosecutors said.

> GAY MALAWI COUPLE SEPARATED IN PRISON
One of two gay men jailed in Malawi after they got engaged has
been transferred to another prison, a human rights campaigner
and gay rights activist said Wednesday.

> KUZNETSOVA SURVIVES FRENCH OPEN SCARE
Defending women's champion Svetlana Kuznetsova survived four
match points before scraping into the third round of the French
Open on a rain-interrupted fourth day at Roland Garros.

> FERGIE AT BOOK SHOW DAYS AFTER SCANDAL
Sarah Ferguson, the Duchess of York, is scheduled to appear at a
book convention in New York City on Wednesday, undeterred by a
scandal that she allegedly offered to sell access to her former
husband, Britain's Prince Andrew.

BUSINESS
~~~~~~~~~~~
> Q&A: HOW WILL EUROPE'S BANK LEVY WORK?
The European Commission outlines proposals for a number of
national emergency funds designed to take the pressure off
taxpayers in the event of any future bank failures. But how will
the scheme work?

> BRUSSELS PROPOSES EU BANK LEVY
Brussels has formally unveiled its proposal for EU countries to
form national funds to insure against future bank failures.

> TIMES UNVEILS NEW 'PAID' WEB SITE
Rupert Murdoch's venerable Times and Sunday Times newspapers
launched their new-look Web sites Wednesday, as they prepare to
start charging users for their content -- a move which could
determine the future course of the ailing newspaper industry.

Markets, Wednesday, 05/26/2010

Date: Wed, 26 May 2010 17:31:04 -0400

|---------------------------------------------------------------------------|
| Dow : 9,974.45 down 69.30 | S & P : 1,067.95 down 6.08
|
| NASDAQ: 2,195.88 down 15.07 | Bond (10Y): 3.22% up 0.060
|---------------------------------------------------------------------------|

MARKETS:
Dow ends below 10,000
Stocks abandon gains to finish lower, with the blue-chip indicator
closing at its lowest point in more than 3 months.

Breaking News: BP begins 'top kill' effort to stop oil leak

Date: Wed, 26 May 2010 12:39:56 -0600

COVINGTON, La. (AP) - BP on Wednesday launched its latest bid to plug
the gushing well in the Gulf of Mexico by force-feeding it heavy
drilling mud and cement. The oil giant's chief executive earlier gave
the procedure a 60 to 70% chance of working, and President Obama
cautioned Wednesday there were "no guarantees." BP spokesman Steve
Rinehart said the procedure known as a top kill, which has never been
tried 5,000 feet underwater, could take hours.

Dow ends below 10,000, down 72 points, after markets erase early gains. Nasdaq and S&P 500 each lose 0.6%.

Date: Wed, 26 May 2010 16:02:03 -0400

Dow ends below 10,000, down 72 points, after markets erase early
gains. Nasdaq and S&P 500 each lose 0.6%.

New home sales at highest level since May '08

Date: Wed, 26 May 2010 12:00:54 -0400

NEW HOME SALES AT HIGHEST LEVEL SINCE MAY '08
U.S. sales of new homes jump nearly 15% in April to the highest level
since May 2008.

U.S. DURABLE-GOODS ORDERS JUMP 2.9% FOR APRIL
New orders for U.S.-made durable goods increase a strong 2.9% in
April, marking the fourth such increase in the past five months,
according to the Commerce Department's latest data on demand for the
big-ticket items.

EMERGING MARKETS' PULLBACK IS MILDER THAN RIVALS'
Emerging markets are falling hard amid the selloff in global equities,
but developed markets are slightly outpacing their rivals' declines.

EUROPEAN SHARES REBOUND AS VOLATILITY CONTINUES
European shares bounce on Wednesday, with investors picking up shares
in banks and miners bruised by heavy selling in the previous session.

New home sales surge almost 15% in April to their highest annual rate in nearly two years, government says.

Date: Wed, 26 May 2010 10:04:03 -0400

New home sales surge almost 15% in April to their highest annual rate
in nearly two years, government says.

Stocks open higher as investor fears about the global economy ease. Dow rises 58 points, Nasdaq gains 1%.

Date: Wed, 26 May 2010 09:34:04 -0400

Stocks open higher as investor fears about the global economy ease.
Dow rises 58 points, Nasdaq gains 1%.

International Headlines

Date: Tue, 25 May 2010 20:02:07 -0400
>TOP STORIES as of 0800 HKT -- 26 May, 2010

> AMERICAN BERENSON FREED FROM PERUVIAN JAIL
Lori Berenson, a U.S. citizen jailed in Peru since 1995 for
helping leftist rebels, has been granted conditional release, a
judge announced.

> DOZENS DEAD IN JAMAICAN POLICE ASSAULT
At least 27 people have been killed and 31 wounded in an ongoing
assault by Jamaican police on a suspected drug lord's compound
in the capital, Kingston.

> PYONGYANG CUTS TIES WITH SOUTH KOREA
North Korea announces a freeze in relations with South Korea and
threatens retaliation in response to alleged intrusions into its
waters by the South Korean navy.

> BP PLANS 'TOP KILL' MANEUVER TO CAP SPILL
Oil company BP will give details about its next attempt to
contain the gushing oil in the Gulf of Mexico -- a maneuver
called "top kill" that it plans to implement Wednesday.

> OIL RIG INSPECTORS 'TOOK COMPANY GIFTS'
Federal inspectors overseeing oil drilling in the Gulf of Mexico
accepted meals and tickets to sporting events from companies
they monitored, according to a new report from the Interior
Department's inspector general.

> THAKSIN FACING THAI TERRORISM CHARGES
A Thai court issues an arrest warrant for Thailand's ousted
prime minister Thaksin Shinawatra on terrorism charges related
to violent clashes in Bangkok.

> STEVE JOBS: 'YOU WON'T BE DISAPPOINTED'
Apple has announced that CEO Steve Jobs will be emceeing the
company's annual Worldwide Developers Conference keynote on June 7 in
San Francisco.

> SMALL MAMMALS AT RISK AS WORLD WARMS
The biodiversity of small mammals in North America may already
be close to a "tipping point" causing impacts "up and down the
food chain" according to a new study by U.S. scientists.

BUSINESS
~~~~~~~~~~~
> GLOBAL MARKETS DOWN ON EURO FEARS
U.S. stocks slumped Tuesday on worries about the flailing euro
and global economy, but investors managed to trim losses as the
session wore on.

> BRITISH AIRWAYS DEFIANT AS STRIKE CONTINUES
British Airways took out full-page ads in newspapers Tuesday
saying it managed to fly almost all of its routes despite a
strike this week by the union representing its cabin crews.

> DOW FALLS TO 3-MONTH LOW
Stocks tumbled Monday, with the Dow ending at a three-month low
as worries about the global economic outlook overshadowed a
bigger-than-expected rise in existing home sales.

Markets, Tuesday, 05/25/2010

Date: Tue, 25 May 2010 17:31:03 -0400

|---------------------------------------------------------------------------|
| Dow : 10,043.75 down 22.82 | S & P : 1,074.03 up 0.38
|
| NASDAQ: 2,210.95 down 2.60 | Bond (10Y): 3.16% down 0.069
|---------------------------------------------------------------------------|

MARKETS:
Yahoo still searching for a strategy
The Internet giant appears to be stressing content over technology
once again. Analysts say that could be the right move but that Yahoo
needs to do more to become unique.

Stocks end mixed, recovering from steep losses at the open. Dow slips 20 points, Nasdaq ends lower; S&P inches up.

Date: Tue, 25 May 2010 16:01:04 -0400

Stocks end mixed, recovering from steep losses at the open. Dow slips
20 points, Nasdaq ends lower; S&P inches up.

The FDA is investigating reports of at least 775 serious side effects from drugs recalled by Johnson & Johnson.

Date: Tue, 25 May 2010 15:34:03 -0400

The FDA is investigating reports of at least 775 serious side effects
from drugs recalled by Johnson & Johnson.

U.S. stocks pare losses in final half-hour of session; Dow reclaims 10,000 level

Date: Tue, 25 May 2010 15:33:56 -0400

U.S. stocks pare losses in final half-hour of session; Dow reclaims
10,000 level
05/25/2010 03:32:10 PM EDT

Crude futures settle more than 2% lower at $68.75 a barrel

Date: Tue, 25 May 2010 14:48:23 -0400

Crude futures settle more than 2% lower at $68.75 a barrel
05/25/2010 02:46:37 PM EDT

U.S. stocks hit hard, taking Dow under 10,000

Date: Tue, 25 May 2010 12:00:55 -0400

U.S. STOCKS HIT HARD, TAKING DOW UNDER 10,000
U.S. stocks plummeted Tuesday as rising political tensions on the
Korean peninsula and sharper worries over the European banking system
sparked a broad selloff.

S&P 500 PLUNGES TO TEST MAJOR SUPPORT
After breaking down last week, the U.S. markets are still groping for
a floor. In fact, the Standard & Poor's 500 Index has dropped to
major support at the February low, and its response to this area
should set the near-term market tone.

PIIGS MARKETS ALL IN BEAR TERRITORY
Italian, Portuguese and Irish stock markets joined Spain and Greece in
bear market territory Tuesday, as markets across the Continent
suffered through another heavy wave of selling pressure.

LIBOR JUMP UNDERLINES RISING TENSIONS
The rate banks charge each other for short-term loans in U.S. dollars
hits another 10-month high, underscoring the sense of growing unease
over the possibility that Europe's sovereign-debt crisis could turn
into a banking crisis.

EUROPEAN STOCKS FALL BACK TO NINE-MONTH LOWS
European shares move broadly lower, with banks and miners taking the
brunt of the selling as investors fret over tensions in Korea as well
as problems with debt burdens and bank balance sheets closer to home.

Consumer confidence surges in May, helped by optimism about labor and business conditions, Conference Board says.

Date: Tue, 25 May 2010 10:03:04 -0400

Consumer confidence surges in May, helped by optimism about labor and
business conditions, Conference Board says.

Stocks plunge at the open. Dow sinks 205 points to below 10,000 in first minute of trading. Nasdaq falls 2.5%, S&P 500 slides 1.8%.

Date: Tue, 25 May 2010 09:33:03 -0400

Stocks plunge at the open. Dow sinks 205 points to below 10,000 in
first minute of trading. Nasdaq falls 2.5%, S&P 500 slides 1.8%.

International Headlines

Date: Mon, 24 May 2010 20:02:08 -0400
>TOP STORIES as of 0800 HKT -- 25 May, 2010

> U.S., SOUTH KOREA TO CONDUCT JOINT MILITARY EXERCISES
The U.S. military will conduct joint exercises with the South
Korean military after a probe found that North Korea was behind
the sinking of one of its warships.

> JAMAICA UNREST SPREADS OVER EXTRADITION
Violence in Jamaica continues over U.S. efforts to extradite a
suspected drug kingpin, with shots fired at police officers and
residents barricading streets in Kingston.

> BP EXECUTIVE DEFENDS OIL SPILL RESPONSE
Two top Obama administration officials head to Louisiana on
Monday to assess the response to the massive oil spill as the
administration sends mixed messages about BP's effort to cap the
gusher.

> BA FIVE-DAY STRIKE BEGINS
BA passengers face disruption as cabin crew begin a five-day
strike after talks with the airline over pay and working
conditions failed over the weekend.

> FLIGHT CHAOS VOLCANO STOPS SPEWING ASH
The Icelandic volcano that has been disrupting thousands of
flights with its ash plume has significantly reduced in
activity, according to the Icelandic Meteorological Office.

> INVESTIGATORS SEARCH PLANE CRASH RUBBLE
Searchers continued sifting through twisted metal, charred
debris and tattered clothing in a ravine in southern India
Monday, looking for the missing piece investigators hope will
explain what went wrong in a deadly plane crash.

> U.S. DESTROYER SHADOWS PIRATE-HELD SHIP
A U.S. destroyer rescued a ship off the coast of Somalia after
it was taken over by 50 pirates, authorities said.

> PRINCE: NO IDEA OF FERGIE'S ALLEGED DEAL
Britain's Prince Andrew Monday "categorically denied" knowing
anything about his ex-wife's alleged offer to sell access to him
after a British tabloid newspaper released what it says is a
video of her doing so.

BUSINESS
~~~~~~~~~~~
> GERMANY SET FOR DRASTIC $13B YEARLY CUTS
The German government is to begin a budget austerity programme
next year to comply with a "debt guillotine" written into the
German constitution.

> PARTY OVER FOR BEIJING'S GOOGLE SET
While all eyes of the tech world were on Google's annual
developer's conference in San Francisco last week, a recent
gathering of the intelligentsia in the world's largest Internet
market went unnoticed.

> U.S., CHINA TALKS FOCUS ON ECONOMY, NORTH KOREA
China and the United States kicked off two days of high-level
talks Monday -- with U.S. Secretary of State Hillary Clinton
asking Beijing to support sanctions against North Korea, and
Chinese President Hu Jintao showing a willingness to reform the
yuan but offering no timetable.

Dow ends down 130 points on jitters about the global economy. Nasdaq and S&P both post declines.

Date: Mon, 24 May 2010 16:02:03 -0400

Dow ends down 130 points on jitters about the global economy. Nasdaq
and S&P both post declines.

U.S. stocks pressured by banks, helped by tech

Date: Mon, 24 May 2010 12:00:56 -0400

U.S. STOCKS PRESSURED BY BANKS, HELPED BY TECH
Financials lead U.S. stocks lower on Monday as a Spanish bank bailout
spurs concerns over the health of European banks and questions
lingered over the final shape of the U.S. financial regulatory
overhaul. See full story.

SOUTH KOREA WON PLUMMETS AS TENSIONS ESCALATE
The South Korean won falls sharply agains the U.S. dollar following a
speech by President Lee Myung-bak suspending trade ties with the North
and condemning last month's deadly attack on a South Korea warship.

SOUTH KOREA WON PLUMMETS AS TENSIONS ESCALATE
The South Korean won falls sharply against the U.S. dollar following a
speech by President Lee Myung-bak suspending trade ties with the North
and condemning last month's deadly attack on a South Korea warship.

HU STRESSES CHINA'S WILLINGNESS TO REFORM YUAN
Chinese President Hu Jintao uses the kick-off of talks with the U.S.
to repeat Beijing's willingness to reform the yuan, offering an
apparent tick forward toward a more liberal currency policy.

CHINA , U.S. SEEN NEARING DEAL ON YUAN
Beijing may offer a major concession on its foreign-exchange policy in
talks with U.S. officials early next week, though analysts say it's
unlikely any official Chinese announcement on its currency would
immediately follow the three days of meetings.

Sales of existing homes rise for the third straight month, surging nearly 8% in April, Realtors' group says.

Date: Mon, May 24, 2010 at 10:03 AM


Sales of existing homes rise for the third straight month, surging nearly 8% in April, Realtors' group says.

Breaking News Mon., May 24, 2010

Date: Mon, May 24, 2010 at 6:03 AM


Reuters: Two American Tourists Kidnapped Near Yemeni Capital [5:50 a.m. ET]

Energy: Oil futures wobble around $70

Date: Mon, May 24, 2010 at 6:35 AM

Crude-oil futures dance around the $70-a-barrel mark Monday as fresh selling in the euro prevents a rebound in the energy contract.

Stocks fall at the open as worries about the global economy persist. Dow sinks 44 points. Nasdaq and S&P 500 edge lower.

Date: Mon, May 24, 2010 at 9:33 AM

Stocks fall at the open as worries about the global economy persist. Dow sinks 44 points. Nasdaq and S&P 500 edge lower.

International Headlines

Date: Sun, 23 May 2010 20:02:06 -0400
>TOP STORIES as of 0800 HKT -- 24 May, 2010

> LOUISIANA DEMANDS U.S. ACTION ON OIL CLEANUP
Frustrated Louisiana officials demand the U.S. government
approve their plans to dredge up walls of sand to protect
delicate inland estuaries from the Gulf of Mexico oil spill.

> JAMAICA: STATE OF EMERGENCY IN KINGSTON
Authorities in Jamaica declared a state of emergency in Kingston
on Sunday night after gang members blockaded a large swath of
the capital city and attacked at least two police stations.

> VOICE RECORDER FOUND AT INDIA CRASH SITE
Searchers find a cockpit voice recorder in the charred wreckage
of a crashed Air India plane as the search continues for the
flight's data recorder.

> BA CABIN CREWS SET TO STRIKE
British Airways' cabin crew will strike for five days from
midnight Sunday after talks were disrupted by protesters and a
feud over a union boss' tweets.

> JAPAN PM 'SORRY' FOR OKINAWA BACKFLIP
Japanese Prime Minister Yukio Hatoyama apologizes to angry
residents of Okinawa after going back on an election promise to
move a U.S. military base off the island.

> WITNESSES: GAZA SUMMER CAMP BURNED
A U.N.-sponsored summer camp in Gaza was burned Sunday hours
before it was due to open, witnesses said, blaming Muslim
extremists who apparently object to boys and girls going to camp
together.

> VIDEO: WAS ACCESS SOLD TO UK ROYALS?
A British tabloid posted a video on its website Sunday that
appears to show Sarah Ferguson, the Duchess of York, accepting
money from an undercover reporter in exchange for access to her
ex-husband, Prince Andrew, a U.K. trade envoy.

> THAILAND EXTENDS POST-CRISIS CURFEW
Thailand extends a curfew in the capital and nearly a third of
the country's provinces for at least two more nights, as Prime
Minister Abhisit Vejja again calls for reconciliation.

BUSINESS
~~~~~~~~~~~
> GERMANY BACKS BAILOUT; EU HOSTS TALKS
European Union finance ministers will meet in Brussels Friday to
discuss tougher rules for eurozone economies as German lawmakers

> BA PROFITS, REPUTATION IN TAILSPIN
British Airway's bitter battle with the nation's largest union
is bruising the balance sheet of the UK's flagship carrier,
leaving the airline -- once the envy of the industry -- with a
tarnished reputation amid record losses.

> SARKOZY: GERMANY, FRANCE UNITED ON EURO PLAN
French President Nicolas Sarkozy said Thursday that he and
German Chancellor Angela Merkel agree on how to handle Europe's
financial woes.