Orders for Durable Goods Rise

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Orders for Durable Goods Rise, but Global Concerns Lurk

By THE ASSOCIATED PRESS
June 27, 2012
WASHINGTON (Reuters) — Demand for long-lasting manufactured goods rebounded more than expected in May and a gauge of planned business spending increased, but a cooling global economy suggested the momentum might not be sustained.
Orders for durable goods rose 1.1 percent last month on strong demand for transportation equipment, the Commerce Department said Wednesday. Economists had expected orders to rise just 0.4 percent.

Still, the report showed underlying softness, and analysts said the outlook did not look much better.

“With global and domestic demand continuing to weaken, we believe that this relatively brisk pace of new orders activity is unlikely to be sustained,” said Millan Mulraine, senior macro strategist at TD Securities in New York.

A slowdown in China and a looming recession in Europe have taken some of the shine off the American manufacturing sector, leaving the economy stuck in a soft patch.

New Egyptian Politics, Relations with US?

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Morsi Ushers in New Era in Egyptian Politics, Relations with US

Mariama Diallo
June 27, 2012

WASHINGTON - Islamist politician Mohamed Morsi will be sworn in Saturday as Egypt's president - the result of a democratic election after a popular uprising toppled long time ruler Hosni Mubarak last year.

Thousands celebrated Mohamed Morsi's victory in Tahrir Square last Sunday - the same square where 18 months ago Egyptians demanded the departure of then-president Hosni Mubarak .

David Schenker is with the Washington Institute for Near East Policy. He says Egyptians can be commended for holding free and fair elections, but the hard work starts now.

Romney: Obama 'not sleeping real well' on eve of healthcare ruling

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Romney: Obama 'not sleeping real well' on eve of healthcare ruling

By Paul West
June 27, 2012
STERLING, Va. -- On the eve of a Supreme Court healthcare ruling that could recast the presidential contest, Mitt Romney was introduced to a Virginia crowd by a conservative Republican who warned last winter that the GOP would be giving up the healthcare issue if they nominated the former Massachusetts governor.

Virginia Atty. Gen. Ken Cuccinelli, a conservative and one of the first state officials in the nation to sue the federal government over the Affordable Care Act, welcomed Romney to the stage and called him the next president of the United States.

But three months ago, Cuccinelli, who had not yet endorsed a candidate, said Republican primary voters were basically deciding whether to give up the healthcare issue when they were choosing between Romney and his main conservative challenger at the time, Rick Santorum.

Google Play gets video purchasing, TV shows, magazines

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Google Play gets video purchasing, TV shows, magazines

Google's store for Android apps and entertainment content gets a big upgrade at the Google I/O show. Also: faster app updates coming, and 20 billion downloads so far.
by Stephen Shankland June 27, 2012

SAN FRANCISCO -- Google Play, Google's online market for Android apps, movies, music, and books, now lets people purchase movies instead of just rent them.
"We're also adding TV," announced Chris Yerga, an engineering director for Android, at the Google I/O show today here. "You'll be able to purchase episodes or entire seasons."
Google has partnerships for the service with a range of producers, including NBC Universal, Sony Pictures, Disney, Bravo, Paramount, Virgil Films, and Sundance, he said.

FDA approves new weight loss drug

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FDA clears first new weight-loss pill in 13 years

By MATTHEW PERRONE, AP Health Writer
June27,2012
WASHINGTON (AP) — The Food and Drug Administration has approved Arena Pharmaceutical's anti-obesity pill Belviq, the first new prescription drug for long-term weight loss to enter the U.S. market in over a decade.
Despite only achieving modest weight loss in clinical studies, the drug appeared safe enough to win the FDA's endorsement, amid calls from doctors for new weight-loss treatments.
The agency cleared the pill Wednesday for adults who are obese or are overweight with at least one medical complication, such as diabetes or high cholesterol. The drug should be used in combination with a healthy diet and exercise.
Obesity Society President Patrick O'Neil said he's encouraged by the drug's approval because it underscores the notion that lifestyle changes alone are not enough to treat obesity.
"This is good news because it tells us that the FDA is indeed treating obesity seriously," said O'Neil,

How Apple won a ban on Samsung's Galaxy Tab 10.1

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How Apple won a ban on Samsung's Galaxy Tab 10.1

By Philip Elmer-DeWitt June 27, 2012
A zig-zag path to victory in a landmark patent infringement case
FORTUNE -- On Tuesday, a U.S. district court in San Jose, Calif., granted Apple's (AAPL) request for a preliminary injunction against Samsung's Galaxy Tab 10.1 -- the tablet computer that most closely resembles Apple's iPad.
"Although Samsung has a right to compete, it does not have a right to compete unfairly, by flooding the market with infringing products," Judge Lucy Koh wrote. "As a patent holder, Apple has a valid right to exclude others from practicing Apple's invention."
The order won't do immediate harm to Samsung, which filed an appeal five hours later. Stores that

Meteorite Hunter Discovers New Mineral

Meteorite Hunter Discovers New Mineral

By Adam MannEmail Author June 27, 2012
Hidden within a rock from space is a mineral previously unknown to science: panguite.

Justin Bieber nabs top selling debut in 2012 with 'Believe'

Justin Bieber nabs top selling debut in 2012 with 'Believe'

Raneisha Wilkinson
by thecelebritycafe.com
6/27/2012
You can call Justin a lot of things, but broke isn’t one of them. The teen heartthrob just made history again, selling 374,000 copies within new album Believe's first week of release. Nielsen SoundScan reports that this is the third studio album Bieber has put out.

The Biebs was able to beat out Madonna’s MDNA, which formerly held the number one spot with 359,000 sold this past March.

Keith Caulfield, who is Billboard’s associate director of charts, told USAToday, “That Bieber can have the biggest opening week of the year says that he's doing a good job. It's always tough making that transition from tweeny-teeny pop star to young adult. It's a challenge, and he seems to be doing quite well so far."

Microsoft loses appeal against EU antitrust smackdown

Microsoft loses appeal against EU antitrust smackdown

Court upholds fine, but knocks it down to €860m
By Brid-Aine Parnell • Get more from this author

Posted in Law, 27th June 2012
Free whitepaper – Enabling Datacenter and Cloud Service Management for Mid-Tier Enterprises
The EU's second-highest court has rejected Microsoft's appeal on the antitrust fine levied by the European Commission four years about, although it did knock a cool €39m (£31.2m) off the total.

The General Court was unmoved by Microsoft's arguments against the fine, which was imposed by the European Commission after Microsoft failed to comply with an original antitrust ruling – which had found that Redmond was charging competitors too much for interoperability info for its servers.
"The General Court essentially upholds the commission’s decision imposing a periodic penalty payment on Microsoft for failing to allow its competitors access to interoperability information on reasonable terms," the court said in a canned statement.

Zynga announces features and expands gaming portfolio

Zynga announces features and expands gaming portfolio

Connecting players from Facebook to Zynga.com on IOS and Android
By Lee Bell
Wed Jun 27 2012

GAMING UPSTART Zynga aims to satisfy its army of social networkers by extending across more genres with its own network, more features and an expanded games portfolio.
Zynga's announcement on Tuesday unveiled a fresh "Zynga With Friends" network and introduced an API layer dubbed Zynga API that will offer an easier way for the firm to offer gaming services and eventually open up to third party developers, though Zynga said the latter will come at a later date.
The Zynga With Friends network is a reference to the company's Scrabble inspired Words With Friends game. The company claimed in a press release that it's a "unified experience" that will "connect all players on any platform from Facebook to IOS and Android to Zynga.com".
It allows Zynga players to access the same tools across its network, rolling out a "social lobby" that will include features and social services such as Zfriends, live Social Stream and chat, as well as a

New Egyptian President’s Biggest Worry?

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Why the New Egyptian President’s Biggest Worry Could Be the Economy

Rising debt and lower growth threaten to detail Egypt’s revolution as much as grasping generals
By MICHAEL SCHUMAN | @MichaelSchuman | June 27, 2012
The newly elected President of Egypt, the Muslim Brotherhood’s Mohamed Morsy, has taken on one of the most daunting jobs in the world. He’ll have to restore stability to a country ravaged by political upheaval, wrest control of Egypt’s fading revolution from the country’s old guard and convince doubters at home and abroad that an Islamist can manage the Arab world’s most populous nation with tolerance and pragmatism. Yet in the end, Morsy’s political fate may depend on whether or not he can turn around a staggering Egyptian economy.

Though there have been many causes of the uprisings in Egypt and elsewhere in the Arab world – most of all decades of political repression – economic woes also played a key role in sparking the Arab Spring. While other developing regions of the world, especially East Asia, have witnessed