Facebook's Saverin says...

Facebook's Saverin says he's not dodging taxes

5/16/2012 by Steven Musil  

Facebook co-founder Eduardo Saverin, who is simultaneously becoming one of the richer and more reviled people around, wants to set the record straight.

Saverin, who helped Mark Zuckerberg launch Facebook in 2004, will become an instant billionaire when the social-networking giant goes public in its massive IPO later this week. But Uncle Sam's tax bite is expected to be tempered by the fact that Saverin, a Brazilian who immigrated to the US as a boy to avoid kidnapping plots, has renounced his US citizenship.

The recent revelation has raised the consternation of many, including our ZDNet colleague David Gewirtz, who accuse Saverin of reaping the benefits of US citizenship and then skipping out when it was his turn to give back:

N.Y. police

N.Y. police challenged on illegal stops and searches

from usa today 5/16/2012 

NEW YORK (AP) – Finding New York City's attitude "deeply troubling," a judge granted class action status Wednesday to a lawsuit that accuses police of discriminating against blacks and Hispanics with stops and searches without cause.

U.S. District Judge Shira Scheindlin ruled that there was "overwhelming evidence" that the practice has led to thousands of illegal stops.

The lawsuit alleges that the police department purposefully targeted black and Hispanic neighborhoods and said officers are pressured to meet quotas as part of the program and are punished if they don't.

The Police Department has said it made 203,500 street stops during the first three months of

French President ...

French President François Hollande names allies, moderates to cabinet

Michael Mainville, Agence France-Presse  May 16, 2012

PARIS — François Hollande, the French president, unveiled a government of mainly moderate Socialists and longtime allies Wednesday as his new prime minister vowed to work quickly to put the country back on its feet.

He also met his promise to appoint an equal number of men and women in his cabinet, a first for France, although most of the senior posts went to men.

Prime Minister Jean-Marc Ayrault said Mr. Hollande’s new government would waste no time and would hold its first meeting Thursday, despite it being a public holiday, and would address the economic crisis.

Japan Stock Futures ...

Japan Stock Futures Little Changed as Fed Ready to Act

By Adam Haigh - May 16, 2012 

Japanese and Australian stock futures were little changed after the Federal Reserve said it may provide more stimulus for the U.S. economy, offsetting concern that Greece’s debt crisis is worsening.

American depositary receipts of Sony Corp. (6758), Japan’s largest consumer electronics exporter that gets a fifth of its sales in Europe, fell 1.1 percent from the closing share price in Tokyo. Melco Holdings Inc. may be active after the Japanese manufacturer of computer peripherals said it expects a 22 percent increase in annual profit. ADRs of Woodside Petroleum

Ltd., Australia’s second-largest oil and gas producer, dropped 0.4 percent as crude prices declined.

Futures on Japan’s Nikkei 225 Stock Average expiring in June closed at 8,755 in Chicago

Mary Richardson Kennedy dead

Mary Richardson Kennedy, wife of RFK Jr., found dead in New York

By Tina Susman

May 16, 2012

NEW YORK — Mary Richardson Kennedy, the estranged wife of Robert F. Kennedy Jr., was found dead on the family’s property north of New York City on Wednesday, two years after her husband filed for divorce and following a history of drug and alcohol problems.

Kerry A. Lawrence, a lawyer who had represented Mary Kennedy in a 2010 drunk driving case, confirmed the death, but neither he nor police in the town of Bedford in Westchester County, N.Y., released a cause of death. An autopsy was scheduled Thursday, the Associated Press reported.

According to a brief statement from Bedford police, officers were called to the Kennedy home in neighboring Mount Kisco at 1:36 p.m. Wednesday “to investigate a possible unattended death.” The statement said that officers found “a deceased person inside an outbuilding” on the property and that an investigation into the cause of death was underway.

Federal Reserve minutes

Federal Reserve minutes: Fiscal cliff could hurt economy

5/16/2012By Annalyn Censky and Karen McGowan | CNNMoney.com

The Federal Reserve is worried about indecision in Congress.

At its last meeting in April, the central bank's top officials discussed how coming tax increases and spending cuts could weigh on the recovery, and debated whether the Fed should provide additional stimulus to spur consumer spending.

"Participants expected that the government sector would be a drag on economic growth over coming quarters. They generally saw the U.S. fiscal situation also as a risk to the economic outlook; if agreement is not reached on a plan for the federal budget, a sharp fiscal tightening could occur at the start of 2013," the minutes from the meeting said.

Stocks to slip on Greece turmoil

By CNNMoney staff @CNNMoneyInvest May 16, 2012

NEW YORK (CNNMoney) -- U.S. stock futures hovered around breakeven Wednesday morning, as the political uncertainty in Greece continues ahead of several U.S. economic reports and corporate earnings.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were were slightly lower Wednesday morning. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

After politicians in Greece failed to agree on a coalition government, President Karolos Papoulias called for all parties to meet Wednesday to set up a caretaker government that willconduct new elections. The instability in Athens raised questions as to whether the country would be forced to leave the eurozone and what such a move would mean for other troubled European economies.

Those contagion fears sent bond prices lower once again in Italy and Spain, increasing their cost of borrowing further.

Palestinians going green

After years of neglect, Palestinians going green

Officials are encouraging thousands of Palestinian children to collect compost, visit recycling centers, plant trees in hopes that the young generation will learn good habits.

By The Associated Press | May.16, 2012 

In a society preoccupied with the struggle for independence from Israel, protecting the environment has often been sidelined - evidenced by the ubiquitous sight of burning trash and piles of garbage bags on sidewalks in this city of 30,000 north of Jerusalem.

Trying to raise awareness, officials are encouraging thousands of children to collect compost, visit recycling centers and plant trees. The hope is that

'Black box' found...

'Black box' found of Russia jet in Indonesia crash

5/16/2012

By ALI KOTARUMALOS, Associated Press

JAKARTA, Indonesia (AP) — Investigators on Wednesday were analyzing the cockpit voice recorder from a Russian passenger jet that slammed into the side of an Indonesian volcano. They hope the final words of the two pilots will help explain what caused last week's crash, which killed all 45 people on board.

The "black box," found Tuesday at the bottom of a 500-meter (1,640-foot) ravine, was shattered and badly burned, said Tatang Kurniadi, who heads the National Commission on Safety Transportation, adding that

Hollande began work today

Hollande to unveil cabinet after gender-equal pledge

5/16/2012 the legraphhe 

France's new prime minister Jean-Marc Ayrault began work today as President Francois Hollande was set to unveil his entire government and keep his promise of dividing cabinet posts equally between men and women.

Mr Hollande is expected to choose Aurelie Filipetti, a 38-year-old up-and-comer in the Socialist Party, for culture minister, while spokesman Najat Vallaud-Belkacem, 34, is likely to fill a junior post fighting discrimination.

Spurs' win

Spurs' win streak hits 15 in 108-92 Game 1 victory

Associated Press | Posted: Wednesday, May 16, 2012 

The San Antonio Spurs had just taken Game 1, and Manu Ginobili didn't want to hear another word about winning 15 in a row or not losing in more than a month.

"I don't even want to know about that," Ginobili said.

On the other side of the AT&T Center, Clippers' All-Star Chris Paul needed no reminder that his wretched performance contributed to the Spurs' 108-92 victory over Los Angeles in the opener of the Western Conference semifinals on Tuesday night.

He just needed to deliver the message to his kid.

"Good game, Daddy," Paul's young son told this father in the locker room.

"No, bad game," Paul answered. "Daddy had a bad game. Daddy couldn't make a shot."

The Clippers _ once again _ won't have much time to get better.

Tim Duncan had 26 points and 10 rebounds following an eight-day layoff for the top-seeded Spurs, who wore

Warren Buffett’s investment moves

Warren Buffett’s company reports several investment moves, including new GM, Viacom stakes

 By Associated Press, Updated: Tuesday, May 15, 

OMAHA, Neb. — Warren Buffett’s Berkshire Hathaway Inc. filed a report on its U.S. stock portfolio Tuesday showing the changes made between the end of last year and the end of the first quarter.

NEW INVESTMENTS:


— General Motors, 10 million shares.

— Viacom Inc., 1.6 million shares.

If Greece Quits Euro...

If Greece Quits Euro, Its Ruin Will Be Pointless

By Clive Crook May 15, 2012

The chaos in Greece has resumed and a new election that nobody expects to resolve anything looms. Exasperated European Union officials have begun openly discussing the country’s exit from the euro currency system. This is a grave mistake. Greece’s exit would be no less catastrophic than when the EU called it unthinkable -- and not just for Greece.
“Divorce is never smooth,” Luc Coene, the governor of Belgium’s central bank and a member of the European Central Bank’s governing council, told the Financial Times on May 13. “I guess an amicable divorce -- if that was ever needed -- would be possible but I would still regret it.”

Amicable? That’s one thing Greece’s exit from the euro couldn’t be. As the economist Barry

? Greece sets June elections

Stymied by sparring politicians, Greece sets June elections

5/15/2012 By Nikolia Apostolou, Special for USA TODAY

ATHENS – Greek leaders failed Tuesday to get sparring political parties to agree on a new government, forcing new elections in June and leaving in doubt whether the debt-ridden nation will impose punishing spending cuts on a populace that has said it will take no more.

"These last few days, I did whatever I could to form a government, but some didn't listen to me, and they are leading the country to new troubles," conservative New Democracy leader Antonis Samaras said.
New Democracy, which had ruled for the past 40 years along with socialist Pasok, was the biggest vote-getter in the May 6 elections. But both parties lost a significant amount of voters to several fringe parties that campaigned against budget cuts demanded by European Union finance ministers in return for bailout funds.
The radical left-wing Syriza coalition, which came in second in the elections, wants to renegotiate the so-called austerity measures

killed 2 drivers?!

Miss. police probe whether imposter cop killed 2 drivers

5/15/2012By Michael Winter, USA TODAY

Mississippi authorities and the FBI are investigating whether someone posing as a police officer killed two motorists late at night last week, according to news reports from the Magnolia State.

Both vehicles were found in northwestern Mississippi on remote stretches of highway on or near an interstate, and neither showed signs of a breakdown, Mississippi Department of Public Safety spokesman Warren Strain told the Jackson Clarion Ledger, published by USA TODAY's parent company, Gannett. Both vehicles were red, but police believe that was a coincidence.

The victims, a man and a woman traveling alone, were shot multiple times, and police are analyzing shell casings to determine if they came from the same gun. Neither victim appeared to be missing anything, said DeSoto County district attorney John Champion, according to the Associated Press.

French presidency

Lightning sparks Hollande's French presidency

By GREG KELLER, Associated Press5/15/2012

PARIS (AP) — Socialist Francois Hollande assumed France's presidency Tuesday, inheriting a country fearful for its financial future and jetting off immediately to Berlin to tackle his most pressing problem: Europe's debt crisis.
A flash of lightning nearly derailed Hollande's blitz diplomatic foray, striking his plane and sending him briefly back to a Paris area military airbase.
But Hollande quickly switched Falcon jets, flew to Berlin, and took steps toward bridging differences with German Chancellor Angela Merkel over how to reinvigorate Europe's economy and its global influence. Right before leaving for Berlin, Hollande named a moderate, German-friendly ally, Jean-Marc Ayrault, as his prime minister.
During a day packed with pomp-filled inaugural traditions, Hollande promised to be less flashy than his predecessor Nicolas Sarkozy and bring a more human touch to the Elysee Palace. But he won't have

Germany powers ...

Eurozone avoids recession as Germany powers ahead

Eurozone avoids recession as Germany powers ahead on strong export performance

By Pan Pylas, AP Business Writer | Associated Press5/15/2012

LONDON (AP) -- Europe dodged a bullet Tuesday after the economy of the 17 countries that use the euro narrowly avoided arecession in the first quarter of the year despite a raging debt crisis that's raising the specter of the breakup of the currency union.

There was one reason why the eurozone avoided an overall recession — officially defined as two consecutive quarters of negative growth. Germany, Europe's biggest economy, was behind the better-than-expected

$454,000 Pay for Collector...

Taxpayers Fund $454,000 Pay for Collector Chasing Student Loans

By John Hechinger | Bloomberg 5/15/2012

Joshua Mandelman made $454,000 in a single year as a student-loan debt collector -- more than twice the pay of the U.S. secretary of education.

His boss, Richard Boyle, chief executive officer of Educational Credit Management Corp., received $1.1 million in 2010, including commuting expenses from his ranch in New Mexico. Five other managers each took home more than $400,000.

ECMC, a Minnesota nonprofit group, owes its success to an 18-year-old agreement with the U.S. government. The

China companies

Filings show 45% of China companies see slowdown

By Chris Oliver | MarketWatch 5/15/2012

HONG KONG (MarketWatch) - Nearly half of China's listed companies that have so far issued forecasts for the first half expect weaker earnings or losses for the period, according to a Tuesday report in China Daily, which cited financial data provider Wind Information Co. About 45% of reporting companies listed on the Shanghai and Shenzhen stock exchanges expect weaker results, according to the report. The findings track 845 companies that have issued first-half outlooks as of Sunday, according to Shanghai-based Wind Information. The report said manufacturing companies along with property developers made up the majority of companies that were expecting a weaker showing for the January to June period.

flesh-eating bacteria...

Family enjoys laughter even as college student battles flesh-eating bacteria

By Ed Payne, CNN

updated 5:58 AM EDT, Tue May 15, 2012

(CNN) -- "Fun" is not the word that one would expect to hear from a father as he watches a daughter's courageous struggle against flesh-eating bacteria -- a battle that has pushed her to the brink of death and back -- but Andy Copeland says he's trying to enjoy life with his family despite their trials.

"Today was a really huge day," Copeland wrote Monday evening inhis blog that details his daughter's battle. "Let me just say that we had a lot of fun with Aimee today."

Aimee Copeland, 24, lies in a hospital bed, hooked to respirator which is helping her breathe. She has already lost a leg and part of her abdomen to the virulent bacteria and may lose more, including her fingers.

But yet there was reason for hope Monday.

ThinkPad X1

Hands On: Lenovo ThinkPad X1 Carbon

• By Eric Grevstad
• May 15, 2012

Already a category contender with the IdeaPad U300s, Lenovo aims for the executive elite with what it calls the world's lightest 14-inch ultrabook.

Lenovo had the ultraportable ThinkPad X220 and last year's Gorilla Glass-screened, business/consumer hybrid ThinkPad X1, but it hasn't had an all-out, sex-appeal executive status symbol in its product portfolio in a while. That changes this summer with the ThinkPad X1 Carbon, a super-slim ultrabook that combines carbon-fiber roll-cage construction with a 14-inch high-res (1,600-by-900) display.

Weighing in at just 3 pounds—a fraction less than some 13.3-inch ultrabooks, and a whole pound less than the similarly screened HP Envy 14 Spectre, the X1 Carbon has the tapering, skinny-wedge profile seen in the Apple MacBook Pro 13-inch (Thunderbolt) and Asus ZenBook UX31-RSL8. Lenovo says it's 18mm (0.71 inch) at its thickest point, actually meeting Intel's trademark requirement for ultrabooks with smaller screens—14-inch and larger ultrabooks are allowed to be 21mm

Lady Gaga

Lady Gaga gagged in Indonesia after Islamic opposition

JAKARTA | Tue May 15, 2012

(Reuters) - Pop star Lady Gaga has been refused a permit to perform in the Indonesian capital next month over security concerns, police said on Tuesday, after Islamic groups voiced strong objections to her "vulgar" style.

Three Islamic groups have expressed their opposition to the concert on June 3, demanding it be stopped, national police spokesman Saud Usman Nasution said by telephone.

Indonesia, a secular state, has the world's largest population of Muslims as well as significant minorities of Christians, Buddhists and Hindus.

"She's a vulgar singer who wears only panties and a bra when she sings and she stated she is the envoy of the devil's child and that she will spread satanic teaching," said Salim Alatas, the Jakarta head of