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Friday, May 27, 2011

Stock Tips & News

Top News

Personal income in April 2011 rose 0.4 %. Nominal personal consumption expenditures (PCE) increased 0.4% and real PCE increased 0.1%. Nominal disposable personal income (DPI) rose 0.3% and real DPI was virtually unchanged. The personal saving rate as a percentage of DPI was 4.9% in April.Personal_Income_and_Outlays_April_2011_.pdf

Fitch Puts Japan Debt Rating On A Negative Outlook
By Wanfeng Zhou NEW YORK, May 27 (Reuters) - Major stock indices and commodity prices rose on Friday as the dollar weakened broadly on signs that the US economic recovery is losing momentum.
By William Sposato Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--Fitch Ratings on Friday lowered its outlook for Japan's burgeoning sovereign debt to negative from stable, citing the risks associated with the nuclear power plant 

A former Nasdaq executive, Donald Johnson, pleaded guilty on Thursday to one count of securities fraud for insider trading to reap more than USD 640000 over three years, the US Justice Department said.
TOKYO (Dow Jones)--Tokyo stocks fell on Friday, dragged down by a firmer yen and selling in Sony shares after the firm posted a massive quarterly loss and a disappointing outlook.


Stock index futures signal higher open
NEW YORK (Reuters) - Stock index futures pointed to a higher open on Wall Street on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.1 to 0.2 percent.

Howard Stringer’s efforts at Sony have been stymied by the effects of the March 11 earthquake and tsunami, a hacker attack on the PlayStation network and other troubles
Mr. Delaney was an Irish businessman who founded Intrade, an online exchange that allows customers to bet on world political, entertainment and financial events.

Tests Reveal Mislabeling of Fish

By ELISABETH ROSENTHAL
Recent technology that identifies varieties of fish by their gene sequences has shown that 20 to 25 percent of seafood products are being mislabeled.

Sony Chief Still in Search of a Turnaround

By HIROKO TABUCHI and BROOKS BARNES
Howard Stringer's efforts at Sony have been stymied by the effects of the March 11 earthquake and tsunami, a hacker attack on the PlayStation network and other troubles.

Former Nasdaq Executive Pleads Guilty to Insider Trading

By PETER LATTMAN
Authorities say Donald L. Johnson used secret corporate information he obtained as a Nasdaq executive to trade illegally, reaping profits of about $750,000.
The Washington Post

Competing plans on job growth
President Obama and Congressional Republicans unveil competing plans to reduce the cost of doing business for U.S. companies.
( by Zachary A. Goldfarb , The Washington Post)
Ex-Nasdaq exec pleads guilty to fraud Former executive traded on confidential information about companies listed on the Nasdaq, reaping more than $755,000 from 2006 to 2009.
( by David S. Hilzenrath , The Washington Post)

Supreme Court upholds Ariz. law punishing employers who knowingly hire illegal immigrants WASHINGTON — The Supreme Court has sustained Arizona’s law that penalizes businesses for hiring workers who are in the United States illegally, rejecting arguments that states have no role in immigration matters.
( Associated Press Associated Press , AP)
Facebook hires 2 former Bush aides as lobbyists, stepping up efforts to friend Washington NEW YORK — Facebook said Thursday that it hired two aides of former President George W. Bush as lobbyists. The world’s largest online social network is stepping up efforts to friend Washington as it grows. ( Associated Press Associated Press , AP)












Market snapshot as of Fri May 27 07:01:40 EDT 2011 New York time (GMT - 5)

Gold
 Bid 1525.3
 Ask 1526.3
 Change
5.9
0.39%
 High 1529.9
 Low 1522.2
Silver
 Bid 37.62
 Ask 37.82
 Change
0.43
1.16%
 High 38.35
 Low 37.31
Platinum
 Bid 1779.0
 Ask 1789.0
 Change
14.0
0.79%
 High 1793.0
 Low 1775.0
Palladium
 Bid 756.0
 Ask 761.0
 Change
1.0
0.13%
 High 763.0
 Low 750.0
The Wall Street Journal Online - The Morning Brief

May 27, 2011 -- 9:00 a.m. EDT

Saudi Bid to Curb Iran Worries U.S.
Saudi Arabia is rallying Muslim nations across the Middle East and Asia to join an informal Arab alliance against Iran, in a move some U.S. officials worry could draw other troubled nations into the sectarian tensions gripping the Arab world.
Saudi officials have approached Pakistan, Malaysia, Indonesia and Central Asian states to lend diplomatic support—and potentially military assistance in some cases—to help stifle a majority Shiite revolt in Sunni-led Bahrain, a conflict that has become a symbol of Arab defiance against Iran.
Saudi Arabia's efforts, though against a common enemy, signal increasing friction with the Obama administration. Its invitation to Pakistan in particular could complicate U.S. security goals in South Asia. The push also complicates U.S. efforts to guide popular uprisings in the Middle East toward a peaceful and democratic conclusion.
The Group of Eight leading industrialized nations launched a partnership with "Arab Spring" countries in transition, directing multilateral development banks to coordinate aid of over $20 billion to Egypt and Tunisia.
Israeli central banker Stanley Fischer is examining a formal bid to head the International Monetary Fund, said an official familiar with his thinking, and figures he has an outside shot at the job if there is a deadlock in the voting.
U.S. Secretary of State Hillary Clinton sought to smooth frayed ties with Pakistan during tense meetings in Islamabad Friday, nearly a month after the American raid that killed bin Laden.
Ratko Mladic, the former Bosnian Serb military commander arrested on genocide charges, will be extradited to an international war-crimes tribunal in The Hague within a week, Serbia's deputy war-crimes prosecutor said.
Spending by Americans slowed in April, rising 0.4% from a month earlier, a sign that rising prices for gasoline and groceries squeezed the economic recovery going into spring.
U.S. stock futures hugged the flat line, as investors opted for caution before the release of housing and consumer-sentiment data.



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U.S. Senators introduce bipartisan Critical Minerals Policy Act

The Critical Minerals Policy Act hopes to keep American companies competitive, protect the U.S. economy, and help create jobs.    Friday , 27 May 2011

Chinese gold imports surging - and still growing

London specialist consultancy GFMS reckons Chinese gold imports could exceed 400 tonnes in 2011 with silver, too, expected to exceed domestic supply    Thursday , 26 May 2011

Chinese rare earth producer gets approval for rare earth exchange - report

According to Chinese state-media, Baotou Steel Rare Earth Hi Tech has won approval from local government to start an exchange to trade in the metals    Friday , 27 May 2011

Interest rates, the end of QE2 and gold in euro terms - Julian Philips

A look at what has been going on in the gold market since the dip and why it is worth looking at the price of the metal in currencies other than the dollar

Yesterday's Top Story: Headed for a ‘Gold Standard System' by 2014 - Ian Gordon

80 Years on from the Great Depression, Ian Gordon reckons financial cycles suggest we are due for another collapse, but this time even worse. Gold and gold stocks may provide protection. Gold Report interview.    Wednesday , 25 May 2011






Facebook, Zuckerberg say ownership suit a "fraud"
May 26, 2011 09:28 PM ET
CHICAGO (Reuters) - Calling the case a "brazen and outrageous fraud," Facebook founder Mark Zuckerberg urged a federal court on Thursday to dismiss a lawsuit by a New York man claiming he owns a huge stake in the social networking website. | Full Article

G8 says world economy gaining strength, eyes debt
May 27, 2011 03:37 AM ET
DEAUVILLE, France (Reuters) - The Group of Eight leaders agreed on Friday that the global economy recovery was becoming more "self-sustained," although higher commodity prices were hampering further growth. | Full Article


EBay and PayPal sue Google over trade secrets
May 26, 2011 10:50 PM ET
NEW YORK (Reuters) - EBay and its online payment unit, PayPal Inc, on Thursday sued Google Inc and two executives for stealing trade secrets related to mobile payment systems. | Full Article


Yandex over-allotment option takes IPO to $1.43 billion
May 27, 2011 05:07 AM ET
MOSCOW (Reuters) - Yandex said on Friday the underwriters of its recent blockbuster Nasdaq IPO had exercised an over-allotment option in full, bringing the total raised to $1.43 billion. | Full Article


Greeks hold crunch austerity talks amid aid threat
May 27, 2011 07:48 AM ET
ATHENS (Reuters) - Greece's prime minister held talks with opposition leaders on Friday in a last-ditch attempt to win their support for more austerity and free up EU/IMF aid needed to avert a debt default. | Full Article




Alfred S. Teo, Sr. and M.A.A.A. Trust
05/26/2011 05:30 PM EDT
JURY FINDS ALFRED S. TEO, SR., LIABLE FOR SECURITIES FRAUD

Donald L. Johnson, Defendant, and Dalila Lopez, Relief Defendant
05/26/2011 04:11 PM EDT
SEC CHARGES FORMER NASDAQ MANAGING DIRECTOR WITH INSIDER TRADING


SEC Charges Former NASDAQ Managing Director with Insider Trading
05/26/2011 03:15 PM EDT
The Securities and Exchange Commission today adopted rules to create a whistleblower program that rewards individuals who provide the agency with high-quality tips that lead to successful enforcement actions.

Giuseppe Tullio Abatemarco
05/26/2011 01:05 PM EDT
SWISS TRADER SETTLES INSIDER TRADING CHARGES

Gregory A. Seib
05/26/2011 10:36 AM EDT
JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT GREGORY SEIB


PCSEdventures!.com, Inc.
05/26/2011 10:36 AM EDT
COURT ENTERS JUDGMENT AGAINST FORMER CHIEF FINANCIAL OFFICER OF PCSEDVENTURES!.COM, SHANNON M. STITH PURSUANT TO SETTLEMENT
As mortgage rates continue to fall, so too are home sales. That wouldn't make sense in a normal housing market, but these are very unique times.
NEW YORK (AP) - Stocks pushed higher for the third day in a row after a report showed Americans' spending edged up last month and a gauge of consumer confidence made an unexpected jump.
By Steven Russolillo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--US stocks edged higher Friday before a three-day weekend after the Group of Eight leading industrialized nations said the global economic recovery is gaining 

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