Current News Today
Wall Street falls 1 percent on Europe, Dell
NEW YORK (Reuters) - Stocks fell 1 percent on Wednesday, with all S&P 500 sectors trading negative as concerns mounted over Greece's future in the euro zone. Tech shares were among the day's biggest decliners as a weaker-than-expected revenue forecast from Dell Inc , the third-largest computer maker, spurred fears that global tech spending was declining faster than had been previously anticipated. Euro-zone officials have agreed that each euro-zone country must prepare an individual contingency plan in the event that Greece decides to leave the single currency bloc. ...
Wed, 23 May 2012 13:49:42 -0400
| Gupta trial jury told of "top secret" Buffett deal
NEW YORK (Reuters) - The deal that gave Goldman Sachs Group Inc a $5-billion boost from renowned investor Warren Buffet at the height of the 2008 financial crisis was "as top secret as you could get," a leading banker testified on Wednesday at the insider-trading trial of onetime Goldman board member Rajat Gupta. Gupta is accused of tipping Galleon hedge fund founder Raj Rajaratnam about the deal in an illegal breach of his fiduciary duties. ...
Wed, 23 May 2012 15:04:15 -0400
| Google did not infringe Oracle patents: jury
SAN FRANCISCO (Reuters) - Google Inc's Android mobile platform has not infringed Oracle Corp's patents, a California jury decided in a high-stakes trial fought by the two Silicon Valley giants over smartphone technology. Because the same jury could not unanimously agree on the copyright allegations earlier in the case, the latest verdict on patents effectively puts an indefinite hold on Oracle's quest for damages. The verdict was delivered on Wednesday in a San Francisco federal court, and confirmed by a Google spokesman. An Oracle attorney declined to comment on the decision. ...
Wed, 23 May 2012 15:02:37 -0400
| Facebook, banks sued over pre-IPO analyst calls
(Reuters) - Facebook Inc and Morgan Stanley, the lead underwriter of social networking company's IPO, were sued by shareholders who claimed the defendants hid Facebook's weakened growth forecasts ahead of its $16 billion initial public offering. The lawsuit, which also targeted underwriters JPMorgan Chase and Goldman Sachs among others, comes as Facebook and the banks that took it public face many questions about the IPO process, which culminated in a May 18 stock market debut plagued by technical glitches. Facebook shares fell 18. ...
Wed, 23 May 2012 14:38:53 -0400
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Current News Today
With Mubarak gone, Egyptians vote freely for leader
CAIRO/ALEXANDRIA (Reuters) - Egyptians relished their first free leadership vote on Wednesday, with Islamists pitted against secular figures in a contest unthinkable before a popular revolt swept President Hosni Mubarak from power 15 months ago. Voting passed off calmly for the most part, but candidate Ahmed Shafiq, who was Mubarak's last prime minister, came under attack from protesters who threw stones and shoes at his convoy as he voted at a Cairo polling station late in the day. Shafiq, 70, was not hurt in the melee, witnesses said. ...
Wed, 23 May 2012 13:54:37 -0400
| Stage set for Hollande-Merkel showdown at EU summit
BRUSSELS (Reuters) - European leaders will try to breathe life into their stricken economies at a summit over dinner on Wednesday, but disagreement over the issue of mutual euro-zone bonds and whether they can alleviate two years of debt turmoil will dominate the gathering. For the first time in more than two years of debt-crisis meetings, the leaders of France and Germany have not held their own mini-summit beforehand to agree positions, marking a significant shift in the traditional Franco-German axis. ...
Wed, 23 May 2012 08:35:50 -0400
| Piers Morgan "showed journalist how to hack phone"
LONDON (Reuters) - One of Britain's most respected journalists said on Wednesday that former tabloid newspaper editor Piers Morgan showed him how to hack into phones 10 years ago, the latest twist in a scandal that has so far centered on Rupert Murdoch. Morgan, now a CNN talk-show host in the United States, has consistently denied authorizing phone hacking during his time as editor of the Daily Mirror. The criminal practice has damaged Murdoch's reputation, led to the closure of his News of the World newspaper and prompted a judicial inquiry into media standards. ...
Wed, 23 May 2012 13:45:39 -0400
| Eurozone looks at Greek exit as leaders meet
BRUSSELS (Reuters) - European leaders, at odds over how to resolve the deepening crisis in the euro zone on Wednesday, have been advised by senior officials to prepare contingency plans in case Greece quits the single currency area. Three officials told Reuters the instruction to be ready was agreed on Monday during a teleconference of the Eurogroup Working Group (EWG) - experts who work for the bloc's finance ministers - and the German central bank said losing Greece would be testing but "manageable". ...
Wed, 23 May 2012 15:19:37 -0400
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Current News Today
Romney's record at Bain Capital: Does it matter?
Romney is a portrait in business success rather than selfless altruism, Yahoo!'s Walter Shapiro writes.
Wed, 23 May 2012 12:25:44 -0400
| Author says GOP broke Washington
Scholar Norman Ornstein is pointing fingers in a new book, "It's Even Worse Than It Looks," co-authored with Thomas Mann.
Wed, 23 May 2012 06:26:04 -0400
| Fury over Facebook IPO grows, lawsuits mount
So now it's day four in the life of "public Facebook" (FB), and setting aside for a moment some gyrations in the stock price, it's safe to say things are still going to pretty much suck for the social media titan—at least for the foreseeable future.
Wed, 23 May 2012 11:40:46 -0400
| Sarah Palin bucks Tea Party, endorses Sen. Orrin Hatch in Utah
Instead of rallying around the Republican tea party challenger, the former Alaska governor endorsed longtime Sen. Orrin Hatch.
Wed, 23 May 2012 10:47:48 -0400
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