Boehner: All options on table in gunJAY GORY, MANAGING EDITOR, politics House Speaker John Boehner says "all options are on the table" in the ongoing congressional investigation into the "Fast and Furious" operation and whether the House would move to hold Attorney General Eric Holder in contempt should he refuse to fully comply. AP source: Romneys donate $150k to campaign effortJAY GORY, MANAGING EDITOR, politics Mitt and Ann Romney are opening their personal checkbooks as wide as allowed to their presidential campaign's joint fund with the Republican National Committee. French opera hits the right note in the USJAY GORY, MANAGING EDITOR, entertainment French opera seems to be hitting just the right note in the United States. Clint Eastwood's family gets real on new E! seriesJAY GORY, MANAGING EDITOR, entertainment Dina Eastwood has heard the question repeatedly: Why put her family and superstar husband Clint Eastwood on display for a reality TV show, generally the province of D-list or wannabe celebrities? News Summary: Wheat soars again on weatherJAY GORY, MANAGING EDITOR, business HOT AND DRY: Wheat futures soared another 5.7 percent Friday as concerns persisted about hot weather in the Southern Plains and the Ohio River Valley. Wheat is now up 16 percent this week. Highlights from Facebook's debutJAY GORY, MANAGING EDITOR, business Facebook's debut on the stock market was preceded by epic hype, delayed by a technical glitch and tracked minute-by-minute by investors around the world. In the end, the fuss was over a gain of 23 cents. Spain may have to revise its 2011 budget deficitJAY GORY, MANAGING EDITOR, business Concern grew for the stability of Spain's place in the fragile eurozone economy after reports of a rise in the level of bad loans on the books of its banks and word from the government Friday that it may have to revise its 2011 budget deficit upwards for a second time. FDIC closes small bank in AlabamaJAY GORY, MANAGING EDITOR, business Federal regulators have seized a small bank in Alabama, bringing to 24 the number of U.S. banks that have failed so far this year. Vale confident will win Brazil double tax caseJAY GORY, MANAGING EDITOR, business RIO DE JANEIRO (Reuters) - Brazilian iron ore miner Vale is confident it will win a dispute over taxes the government claims the company owes on earnings abroad, CEO Murilo Ferreira said on Friday. The government has ordered Vale to pay 30.5 billion reais ($15.19 billion) in tax on profits from its foreign subsidiaries. The company said it already paid the taxes to foreign governments and that Brazil's claim is a form of illegal double taxation. Vale, along with other companies and industry associations, is disputing the back taxes in Brazil's highest court. ... China solar stocks slump again after U.S. trade moveJAY GORY, MANAGING EDITOR, business (Reuters) - Solar stocks slumped to fresh lows on Friday as investors continued to punish Chinese solar companies a day after the United States said it would impose new duties on imports from the world's leading solar manufacturer. Suntech Power Holdings was down 4.2 percent, Trina Solar Ltd slid 5 percent and Yingli Green Energy dropped 7.5 percent, extending declines made on Thursday when the U.S. Commerce Department ruled China-based solar companies had violated trade rules and 'dumped' their products in the U.S. at below-market prices. ... Japan looks to central bank to pay for Iran oil: NikkeiJAY GORY, MANAGING EDITOR, business (Reuters) - The Japanese government and private sector bank officials are considering asking the Bank of Japan (BOJ) for help in settling Iranian oil transactions, the Nikkei reported. Bank of Tokyo-Mitsubishi UFJ, which handles most of Japan's payments for oil imports from Iran, on Thursday said it had frozen transactions with Iranian banks after being ordered to do so by the New York District Court earlier this month. The move stems from a U.S. court decision in 2007 that ordered Iran to pay more than $2.6 billion to survivors and victims' family members of the 1983 bombing of a U.S. ... American Eagle exits children's shops, CFO resignsJAY GORY, MANAGING EDITOR, business (Reuters) - Teen apparel retailer American Eagle Outfitters Inc said it is getting out of the children's clothing business and that Chief Financial Officer Joan Hilson will step down at the end of July. The Pittsburgh-based company is exploring options such as a full or partial sale of 77kids, which includes 22 stores and an online business, it said in a statement on Friday. American Eagle introduced the brand in October of 2008 as an online-only brand. ... UAW president sets goal to stem money losses by 2014JAY GORY, MANAGING EDITOR, business NEW YORK (Reuters) - The United Auto Workers aims to break even by mid-2014, as the American union looks to bolster its political and bargaining clout. For the past five years, the UAW has relied heavily on selling its war chest of stocks, bonds and property to bridge the gap between its annual funding and costs. The union believes this approach is untenable in the long run and its goal is to "have it turned around" in two years by adding members and managing costs, UAW President Bob King said in an interview on Friday. ... MF Global to get $168 million back from JPMorganJAY GORY, MANAGING EDITOR, business NEW YORK (Reuters) - JPMorgan Chase & Co , under scrutiny for its ties to collapsed commodities firm MF Global, will return $168 million to the estate of MF's broker-dealer, the estate's trustee announced on Friday. James Giddens, tasked with winding down the estate and recovering as much money as possible for its trader clients who lost money when the firm went bust, said JPMorgan will return "excess collateral" that was held in its estate when the bankruptcy began. ... Galleon prosecutor aims to cement legacy in Gupta trialJAY GORY, MANAGING EDITOR, business NEW YORK (Reuters) - It was during a quiet afternoon in the sixth week of the insider-trading trial of hedge fund billionaire Raj Rajaratnam that prosecutor Reed Brodsky sprang one of those rare surprises usually seen only in the movie version of a courtroom drama. Brodsky, a federal prosecutor since 2004, seemed to catch defense lawyers and witness Richard Schutte off guard with a blistering cross-examination in the 2011 trial. The former Rajaratnam right-hand man was forced to admit that the biggest investor in a new hedge fund he launched was none other than the Galleon founder. ... Under pressure, Chesapeake cuts director payJAY GORY, MANAGING EDITOR, business (Reuters) - Chesapeake Energy Corp , under growing pressure from shareholders to improve corporate governance, reduced the compensation for its outside directors by 20 percent and eliminated their use of its aircraft for personal travel, the company said on Friday. Chesapeake and its board have come under fire in recent weeks after Reuters reported, among other things, that Chesapeake CEO Aubrey McClendon had taken out more than $1 billion in previously undisclosed loans using his interest in company wells. ... Analysis: JPMorgan to be haunted by change in risk modelJAY GORY, MANAGING EDITOR, business (Reuters) - JPMorgan Chase & Co's decision to radically change the way risk was measured in its Chief Investment Office is likely to dog the bank in the developing crisis over the big trading losses it has suffered. The move, which allowed the bank to disguise the level of risk that the CIO was taking in its trading, could become a major focal point of investigations by the U.S. Securities and Exchange Commission and the FBI, former regulators said. It also will likely become part of investor cases in lawsuits against the bank and its executives. ... Messy Facebook debut marks weak day on Wall StreetJAY GORY, MANAGING EDITOR, business NEW YORK (Reuters) - Stocks fell on Friday after a sloppy debut by Facebook Inc spoiled hopes that a spectacular open for the most-anticipated stock sale in years would brighten the mood in what has been a gloomy month for equity markets. Shares of Facebook, the social networking giant, were volatile in the busiest day ever for a trading debut. After early gains of more than 10 percent, Facebook shares fell back to the $38 issue price, ending up just 0.6 percent at $38.23. It was the Nasdaq's most actively traded stock, with more than 566 million shares traded. ... Hawks decide to keep Drew on as head coachJAY GORY, MANAGING EDITOR, sports (Reuters) - The Atlanta Hawks have re-signed head coach Larry Drew back for a third season after he steered the injury-hit team to the fourth-best record in the Eastern Conference, the National Basketball Association team said on Friday. Despite losing several key players for stretches of the lockout-shortened season, the Hawks made the playoffs for a fifth straight year before losing to the Boston Celtics in the first round of the postseason. ... Cubs P Kerry Wood expected to retireJAY GORY, MANAGING EDITOR, sports Has Kerry Wood pitched his final game? Ballplayers say it's their choice how to slideJAY GORY, MANAGING EDITOR, sports Taking batting practice and infield practice are rituals in baseball. Lewis wins in Sybase in quest for 2nd straight winJAY GORY, MANAGING EDITOR, sports Stacy Lewis is a step closer to her second straight victory on the LPGA Tour. Hawks keeping Drew as coach for 2012JAY GORY, MANAGING EDITOR, sports The Atlanta Hawks have committed to Larry Drew for one more season. In Lingerie wins Grade 2 BlackJAY GORY, MANAGING EDITOR, sports In Lingerie charged to victory in the $300,000 Black-Eyed Susan Stakes, holding off Disposablepleasure for her third win in four career races. Cubs P Kerry Wood retires after 13JAY GORY, MANAGING EDITOR, sports Kerry Wood, who electrified baseball with a 20-strikeout game as a rookie in 1998 before his career was slowed by injuries, is retiring. Clemens key accuser: 'I misspoke' about evidenceJAY GORY, MANAGING EDITOR, sports Roger Clemens' lawyer jabbed his left index finger and hammered away, relentlessly attacking Brian McNamee over his personal life and accusing the government's chief witness of "making up this stuff on the fly." The attorney finally sprung his trap and pointed out what appeared to be a flaw in the McNamee's story about the collection of evidence that turned up in a beer can. Females, Young Athletes Take Longer to Get Over ConcussionsJAY GORY, MANAGING EDITOR, health FRIDAY, May 18 (HealthDay News) -- Female athletes take longer to recover from concussions, a new study says. Melanoma a Big Threat to Older MenJAY GORY, MANAGING EDITOR, health FRIDAY, May 18 (HealthDay News) -- Older men have an increased risk of developing melanoma, but most are careless about sun protection and do not know how to properly check themselves for signs of skin cancer, a new survey reveals. Fees Lead Some Kids to Skip AfterJAY GORY, MANAGING EDITOR, health FRIDAY, May 18 (HealthDay News) -- Schools that charge kids to participate in sports may be benching some children, a new survey finds. Antibiotics prevent UTIs better than probioticsJAY GORY, MANAGING EDITOR, health NEW YORK (Reuters Health) - Antibiotics are still better than probiotics at preventing urinary tract infections, but at least "good bacteria" don't add to a person's antibiotic resistance, a new study concludes. Recurring UTIs are common among some women and low-dose antibiotics are sometimes used to prevent them. The worry is that overuse of the drugs also reduces their effectiveness by making disease-causing bacteria like E. coli resistant. ... Facebook and the Limits of the Network EffectJAY GORY, MANAGING EDITOR, technology By the conventional understanding of the network effect, which states a service is as valuable as the number of people using it, Facebook can only benefit, right? The social network has 845 million users logging on to the site multiple times a day and only has plans to get bigger as it just went public this morning and needs to keep growing to prove its value. But, in Facebook's case, as the site grows and its network gets bigger, it will also get more annoying and less useful. ... The Scienceblogging Weekly (May 18, 2012)JAY GORY, MANAGING EDITOR, technology The Scienceblogging Weekly (May 18, 2012) Nasdaq to resolve early Facebook orders through matching processJAY GORY, MANAGING EDITOR, technology (Reuters) - Nasdaq OMX said it intends to reach a resolution for Facebook Inc orders entered from 11 a.m. to 11:30 p.m. ET through an "offline matching process." Firms that had questions regarding executions would have to submit requests to Nasdaq by 5 p.m. (Reporting By David Gaffen) Scramble for Facebook stock ends in "FaceJAY GORY, MANAGING EDITOR, technology NEW YORK (Reuters) - On Monday, 74-year-old Betty Tanguilig told her financial adviser to liquidate a $400,000 account and put all the proceeds into Facebook Inc IPO shares. Her adviser, Alan Haft, agreed to sell only $46,000 of the $400,000 account, one of several the retiree has. But at about 6:00 a.m. EDT Friday, Haft heard from his brokerage firm, E*Trade Financial Corp, that Tanguilig did not get any IPO shares. Tanguilig, a retired mother of eight, was furious. She has been on Facebook for many years and regularly logs in. "I had to have it," she said. ... Social media stocks tumble on tepid Facebook IPOJAY GORY, MANAGING EDITOR, technology The lukewarm response to Facebook Inc.'s initial public offering sent shares of other social-media companies tumbling Friday. Facebook falls flat in public debutJAY GORY, MANAGING EDITOR, technology After all the hype, Facebook's first day as a public company ended where it began. Beyond Facebook: A look at social network historyJAY GORY, MANAGING EDITOR, technology Facebook may have made social networking a worldwide cultural phenomenon, but it wasn't the first Internet company to connect people online. And it won't be the last. Here's a look at how social networking has evolved. Some companies have come and gone. Some are mere shells of their former selves. And others show promise, even as Facebook dominates the social Web. Historic Facebook debut falls short of expectationsJAY GORY, MANAGING EDITOR, technology SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares, which opened up 11 percent, closed at $38.23 after a nail-biting last half hour of trading when the shares dipped to their $38 IPO price. Most investors had predicted a first-day pop. More than 576 million shares changed hands, setting a trading volume record for U.S. market debuts. ... Is Facebook for Lonely Narcissists?JAY GORY, MANAGING EDITOR, technology In this week's The New York Times Magazine, Well columnist Tara Parker-Pope asks, "Does Facebook turn people into narcissists?" which, when paired with The Atlantic's own recent cover story by Stephen Marche, "Is Facebook Making Us Lonely?" leads us to wonder whether we're all a bunch of isolated self-obsessed twits. Everything You Need to Know About Facebook's IPOJAY GORY, MANAGING EDITOR, technology Now that Facebook's finished its first day on the market, it's time to figure out what it all means. It ended the day at a price of $38.23 per share, almost exactly where it started the morning at $38 per share, does that mean today basically didn't happen? No. As you can see over at our live blog, it was an eventful day, which saw the stock peak at $45 per share, amid tech glitches and a resounding meh from the Internet. What does this mean for Facebook? America? The Internet? Me? You? Let's find out. Netflix Successful at Luring OneJAY GORY, MANAGING EDITOR, technology COMMENTARY | When it comes to streaming video online, Netflix remains a priority option for many users. PCMag.com reports that one-third of new Netflix subscribers are individuals who dropped the service. Those returning customers will prove to be valuable additions for the company as it seeks to become a bona fide entertainment stop over the next few years. Intelsat Global files for $1.75 billion IPOJAY GORY, MANAGING EDITOR, technology (Reuters) - Intelsat Global Holdings S.A., the world's biggest operator of satellite services, filed with U.S. regulators on Friday to raise up to $1.75 billion in an initial public offering of its common stock. The company filed for its IPO on a day Facebook Inc's eagerly awaited debut fell short of expectations. Technology stocks have had a good run in an otherwise lackluster IPO market, and companies such as Audience Inc and Millennial Media Inc have benefited from the market's soft spot on their debut. ... This Is Your Child's Brain on Exercise; How to Make Schools HealthierJAY GORY, MANAGING EDITOR, technology Discovered: Kids brains look different than adults brains when exercising, how to make schools healthier and how thunderclouds are contributing to climate change. This is your child's brain on exercise. It looks different than your adult brain, finds research. When kids exercise they change the way their brains work. "In the last several years there have been data suggesting that neurobiological changes are happening -- [there are] very brain-specific mechanisms at work here," explains researcher David Bucci. ... Amkor Technology to build plant in South KoreaJAY GORY, MANAGING EDITOR, technology Amkor Technology Inc., a specialist in packaging and testing computer chips, said Friday that it will build a $350 million semiconductor testing and packaging plant in South Korea. Android App Video Review: SongifyJAY GORY, MANAGING EDITOR, technology All you have to do to become an amateur singer is tap the big record button, read your shopping list out loud, and then hit the button again. Now, your shopping list will be "songified" with the help of speech recognition software and auto-tune. I mean, this isn't Katy Perry level auto-tune, but it's enough to be tons of fun. You can re-songify any recording using a huge variety of pre-set songs, although you'll only have access to four at first. The rest must be purchased using special tokens. ... Nasdaq glitch confuses investors of Facebook IPOJAY GORY, MANAGING EDITOR, technology Some investors who thought they had bought Facebook shares at the opening of trading were left without knowing for hours whether they had received the shares. Facebook stock debut fails to sizzleJAY GORY, MANAGING EDITOR, technology It was barely a "like" and definitely not a "love" from Facebook investors as the online social network's stock failed to live up to the hype in its trading debut Friday. Why Digital Accelerates Political ChangeJAY GORY, MANAGING EDITOR, technology Ethan Riegelhaupt is senior vice president for corporate and public affairs at Edelman. Previously, he served as vice president for speech writing and internal communications at The New York Times Company. He was also a senior staff member for New York Gov. Mario M. Cuomo. Follow him at @Ethanriegelhaup. What the Friday: Watch this man open a bottle of beer… with a chainsawJAY GORY, MANAGING EDITOR, technology It's Friday again — hooray! Time to make plans for the weekend over a few bottles of beer like the man in the video above. But while you probably use a bottle opener to get to your fizzy liquor, this man uses … Continue reading → A 112JAY GORY, MANAGING EDITOR, technology Spectral Instruments may be a small company, but it has already designed several impressive cameras, including one called 1110 series that can capture the stars and the sun even in the middle of the day. The company's products have been designed … Continue reading → |
