Central Banks to hold fire...

Central Banks to hold fire... for now

By Richard Hubbard

LONDON | Sat Jun 2, 2012

(Reuters) - The intensifying euro zone crisis and uncertain global growth outlook have raised hopes for a policy response from major central banks but, while it could be a close call, they are likely to resist pressure to act in the coming week.

The European Central Bank, the Bank of England and the Reserve Bank ofAustralia are all due to meet as data emerges on the euro zone's service sector, and the manufacturing and trade performances of the big German and U.S. economies.

The main focus will be Wednesday's ECB meeting, and whether dramatic selling of peripheral European government debt by investors in May and a flight into safe-haven U.S. Treasuries and German

US to redeploy naval fleet in Asia-Pacific region

 June 2nd 2012

Washington, June 2 (IANS/RIA Novosti) The US will re-deploy bulk of its naval fleet in the Pacific Ocean by 2020, US Defense Secretary Leon Panetta has said.

"By 2020, the navy will reposture its forces from today's roughly 50-50 percent split between the Pacific and the Atlantic to about a 60-40 split between those oceans," Panetta said.

"That will include six aircraft carriers in this region, a majority of our cruisers, destroyers, combat ships and submarines," he added.

Panetta was speaking at the 11th Asia Security Summit of the International Institute for Strategic Studies in Singapore Saturday.

Panetta rejected the suggestion that changes in the US military strategy were aimed at containing China's growing influence.

Daily dark chocolate lowers heart risk

Daily dark chocolate lowers heart risk

Published: June 1, 2012
From upi.com

MELBOURNE, June 1 (UPI) -- Dark chocolate lowers blood pressure and cholesterol, making it a cheap and tasty way to lower cardiovascular disease risk, Australian researchers say.

Professor Christopher Reid, Dr. Alice Owen, Dr. Dianna Magliano and Ella Zomer, a doctoral student at Monash University, and Danny Liew of the University of Melbourne predicted daily dark chocolate consumption could prevent 70 non-fatal and 15 fatal cardiovascular events per 10,000 people over a 10-year period.

Zomer said the study was the first to examine the long-term health benefits of flavanoids, found in dark chocolate and known to lower blood pressure and cholesterol.

Fed's Fisher: No need for QE3

Fed's Fisher: No need for QE3

By Felicia Taylor, CNNmoney   June 1, 2012

NEW YORK (CNNMoney) -- The elephant in the room - QE3 - is stomping around again thanks to that deeply disappointing jobs report. So, will the Federal Reserve open the floodgates and throw more stimulus into the market? Or will it remain on the side lines, jawboning that "policy options are available ... should it be necessary."
Sometimes words are enough to calm the markets, sort of like a lullaby. Other times, you need action - as we've seen via QE1 and 2 and Operation Twist. The answer, of course, depends on who you ask.

Traders clearly want more QE. Ken Polcari, managing Director at ICAP Corps, said from the floor of the NYSE Friday that one way to avoid the global economy falling back into recession and prevent real panic is through stimulus. Economists are less certain. Tom Porcelli, chief economist at RBC Capital Markets, said he thinks the odds are high for QE3, but pointed out that more bond buying would just be a "sugar high."
Another round of stimulus won't necessarily result in job creation and that's what this economy needs to

Syria conflict: Russia's Vladimir Putin stands firm

Syria conflict: Russia's Vladimir Putin stands firm

1 June 2012

from bbc

Russia's President Vladimir Putin has resisted diplomatic pressure from Western nations to support tougher action against Syria's government.

Mr Putin, an ally of Syria, called for more time to be given to the peace plan of envoy Kofi Annan.

The US and UK have called on Moscow to strengthen its condemnation of the Syrian regime since last week's massacre in Houla, where 108 died.

Earlier, Moscow opposed a UN Human Rights Council resolution on Syria.

In an emergency session on Friday, the council condemned Syria over the Houla massacre and called for an investigation.

But Russia voted against the US-backed resolution, arguing that it was "unbalanced".

Meanwhile, a US government website published satellite images apparently showing a mass grave in the Houla area.

'Intolerable'
Correspondents say Mr Putin's latest remarks, made after a meeting with French President Francois Hollande, highlight the divisions between Moscow and Paris towards the conflict in Syria.

to face ‘lucky loser’ French Open

Roger Federer to face ‘lucky loser’ who keeps winning at French Open

French Open » David Goffin’s unlikely run will continue against his tennis idol.
By HOWARD FENDRICH | The Associated Press

6-1-2012

Paris • If it seems Roger Federer breaks one record or another every time he wins a match, that’s because he does these days.

Then again, good as Federer is, he can’t top this: His next opponent at the French Open, Belgium’s David Goffin, is unbeaten in Grand Slam main-draw matches. (OK, so the kid’s only 3-0, but still.)

Yes, before Federer can take on Novak Djokovic or Rafael Nadal at Roland Garros this year, he’ll need to defeat Goffin, the first "lucky loser" — a player beaten in qualifying who sneaks into the field via someone’s withdrawal — to reach the fourth round at any Grand Slam tournament in 17 years, and only the seventh to make it that far.

"Now I’m playing against Roger," the 109th-ranked Goffin said after beating Lukasz Kubot of Poland 7-6 (4), 7-5, 6-1 on Friday, "and I can’t believe it."

A fresh-faced 21-year-old whose voice was barely a whisper and whose hands fidgeted during an extended interview session with reporters, the slender, 5-foot-11 Goffin matter-of-factly discussed displaying photos and posters of 16-time Grand Slam champion Federer in his bedroom as a child.

Hits and misses in Windows 8 so far

Hits and misses in Windows 8 so far

As Microsoft approaches the home stretch for finishing Windows 8, we take a look at what the OS does well, and what it must fix to be a success.
by Seth Rosenblatt   June 1, 2012

With the Windows 8 Release Preview finally available, Microsoft has taken a major step toward putting its chips on the table for its biggest gamble ever. While we may start seeing some of the hardware that will run Windows 8 as early as next week, we know enough about the operating system itself to say what's surprisingly good and what needs help, STAT.
What we liked so far:
The Metro interface comes at app icons from a different angle than Apple and Google. Live tiles are

Romney didn't keep his promises in Massachusetts

Deval Patrick: Romney didn't keep his promises in Massachusetts

By Deval L. Patrick, Special to CNN
 Fri June 1, 2012

Editor's note: Gov. Deval L. Patrick, a Democrat, succeeded Mitt Romney as Massachusetts governor.
Boston (CNN) -- Mitt Romney is a smooth salesman. When he was a candidate in 2002, his pitch to the people of Massachusetts was that he could fix all that ailed us. As the Bay State's top salesman, he said, he would "bring great jobs here." He claimed he would at last be the governor to reform state government.
We bought it. Most of us now would warn, "buyer beware."

A 'Secret Millionaire' spends a week in Newark, gives $150K to city charities

June 01, 2012

By James Queally/The Star-Ledger

Newark  From the former crack den he called home to the bustling street corners where men gathered to talk in the sweltering heat, Scott Jacobs spent a week searching for charities in Newark.

Jacobs lived on just $71.03 — the equivalent of welfare wages for a family of two — during the seven days he spent in the state’s largest city — but his charity hunt last July wasn’t about putting money in his own pocket.

It was about giving something back.

The 53-year-old artist became Newark’s "Secret Millionaire" when he donated nearly $150,000 to three charities as part of the ABC reality series that sends some of the country’s wealthiest people undercover to poverty-stricken areas so they can share their riches with deserving

USA's Sloane Stephens ...French Open

USA's Sloane Stephens reaches Round 4 at French Open

6-1-2012 from www.usatoday.com

PARIS (AP) – American teen Sloane Stephens advanced to the fourth round at theFrench Open by beating Mathilde Johansson of France 6-3, 6-2 Friday.

Of the eight teenagers in this year's draw, the 19-year-old Stephens was the only one to even reach the third round.

Stephens, from Coral Springs, Fla., is making her fourthGrand Slam appearance. She reached the third round at the U.S. Open last year in what had been her career best at the major tournaments.

• BLOG: French Open diary, Victoria Azarenka

• PHOTOS: Top shots from Roland Garros

London for the Jubilee

Travel Postcard: London for the Jubilee

LONDON | Fri Jun 1, 2012 

(Reuters) - Got an extra long weekend to explore the British capital where Queen Elizabeth II will be celebrating her 60th year on the throne with a massive Diamond Jubilee party? Reuters correspondents with local knowledge help visitors explore London amid the royal hoopla.

Friday

6 p.m. You'd better arrive at least a day or two ahead of the main festivities. Many people will get to London even earlier and will already be staking out places for Sunday's 1,000-boat flotilla along the

The Queen...

The Queen: three steps for Canada to replace the monarchy

By Bob Hepburn 6-1-2012

God save the Queen!

That famous cheer will ring out across England this weekend as the country stages massive Diamond Jubilee celebrations marking Queen Elizabeth’s 60 years on the throne.

In Canada, many of us will watch the televised festivities as a gesture of affection — even loyalty in some cases — for the woman who has served with distinction as the Queen of Canada.

For most of her reign, the Queen has been a symbol of stability, dedication and continuity.

But with her reign nearing an end, the time is right for Canadians to start the process of cutting our formal ties to the British monarchy, an outmoded institution that dates back to the days when Canada was a British colony.

It’s obvious why we need to begin the process now, rather than after the Queen is no longer on the throne.

When the Queen dies, her successor, likely Prince Charles, will be proclaimed King of Canada within hours — not days, weeks or months later. That’s what happened when Elizabeth succeeded her father, King George VI, when he died on Feb. 6, 1952.

Once that occurs, Canada will be stuck with yet another foreign monarch as our head of state, possibly for decades.

Sefolosha sparks Thunder to 102-82 win over Spurs

By JEFF LATZKE  6-1-2012

The Associated Press

OKLAHOMA CITY — In a Western Conference finals filled with established stars, Thabo Sefolosha used a stretch of defensive excellence to turn the momentum in the Oklahoma City Thunder's favor and stop a dominant seven-week run by the San Antonio Spurs.

Kevin Durant scored 22 points, Sefolosha set playoff career-bests with 19 points and six steals, and the Thunder snapped San Antonio's 20-game winning streak by beating the Spurs 102-82 in Game 3 of the Western Conference finals on Thursday night.

The Thunder's fears of falling into a historically insurmountable 3-0 series deficit faded quickly as Sefolosha got four steals to power an 8-0 Oklahoma City run in the first 3 minutes and set the tone for San Antonio's worst offensive outing of the season.

Euro-Area Unemployment ...

Euro-Area Unemployment Reaches Record 11%, Led By Spain

By Simone Meier - Jun 1, 2012

Euro-area unemployment reached the highest on record as a deepening economic slump and budget cuts prompted companies from Spain to Italy to reduce their workforces.

The jobless rate in the 17-nation euro zone was at 11 percent in April and March, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. The March figure was revised higher to 11 percent from 10.9 percent estimated earlier.

Europe’s companies are under pressure to lower costs to protect earnings as the worsening fiscal crisis erodes exports and consumer spending. Euro-area economic confidence dropped more

than economists forecast last month and manufacturing output contracted. Deutsche Lufthansa AG (LHA) said on May 30 that it may cut as many as 1,000 jobs at LSG Sky Chefs, the world’s largest inflight caterer, in a bid to lower costs through 2014.

Facebook suffers outage that cuts off users

1 June 2012 from  bbc.co.uk

Facebook has suffered a series of service disruptions which left many people unable to use the social network.

The problems meant that the site was unreachable for some people for almost two hours.

Sporadic disruptions were reported by many people and even those who could get through said pages were taking a long time to load.

Facebook apologised but said it had fixed the problem.

Stock slide

Tiger Woods...

Stallings sets Memorial pace, Tiger four back

May 31, 2012Reuters


Tiger Woods, without playing at his best, moved into contention at the Memorial tournament on Thursday while fellow American Scott Stallings made a welcome return to form by charging into a one-shot lead.
Four-times champion Woods birdied three of the four par-fives in surprisingly firm and fast-running conditions at a sun-drenched Muirfield Village Golf Club to card a two-under-par 70, finishing four strokes behind Stallings.
Americans Spencer Levin, who totaled only 21 putts, and Erik Compton opened with 67s while Australian Aaron Baddeley, South African Rory Sabbatini and Argentina's Andres Romero were among a group of seven players knotted on 69.
Woods, who won the most recent of his four titles here in 2009, was reasonably satisfied after mixing four birdies with a double-bogey at the treacherous par-four 18th, his ninth hole of the day.
"It was just a solid round today," the 36-year-old told reporters. "It certainly could have been a lot lower, but I'm pleased with the way I hit the golf ball today. I didn't do anything great and I didn't do anything poorly today.

Nancy Reagan endorses Romney's bid for president

Nancy Reagan endorses Romney's bid for president

5-31-2012
LOS ANGELES (AP) — Former first lady Nancy Reagan served lemonade and cookies to Mitt Romney and his wife and offered the presumptive Republican presidential nominee something extra — her endorsement.
The widow of President Ronald Reagan says she is firmly behind Romney. And she says that her "Ronnie" would have liked Romney's business background and what she calls his "strong principles."
Romney and his wife, Ann, visited Mrs. Reagan at her Los Angeles home on Thursday. The Republican presidential candidate has been campaigning and raising money on the West Coast this week.
In a statement issued after the Romneys' visit, Mrs. Reagan said she believes that Romney has the experience and leadership skills that, in her words, "our country so desperately needs."

Walt Disney Studios' next chairman, Alan Horn,

Alan Horn could revive Walt Disney Studios' magic

Walt Disney Studios' next chairman, Alan Horn, has a reputation for nurturing successful family-friendly films such as 'Harry Potter.'

By Dawn C. Chmielewski, Los Angeles Times
June 1, 2012

In naming film veteran Alan Horn to oversee its troubled movie studio, Walt Disney Co. has tapped an executive who nurtured the blockbuster "Harry Potter" franchise and could bring magic back to the studio that once controlled the family film market.

The former Warner Bros. Entertainment president takes over as Walt Disney Studios chairman June 11, assuming control of the Burbank company whose 1937 "Snow White and the Seven Dwarfs" heralded a golden age of animated movies and made Mickey Mouse, Ariel and the Lion King an indelible part of the American childhood.

Euro structure is 'unsustainable,'

Euro structure is 'unsustainable,' ECB chief warns

May 31, 2012Associated Press
From foxnews.com
FRANKFURT, Germany –  The head of the European Central Bank warned Thursday that the euro currency union is "unsustainable" without stronger political and financial ties, and called for a new course to save it from a crippling debt crisis.
Mario Draghi heaped criticism on European political leaders for being slow to respond to the 2½-year crisis, saying delays and half-measures had only made the situation worse.
Speaking to the European Parliament in Brussels, Draghi said the central bank has done what it could to fight the problems by reducing interest rates and giving $1.2 trillion (€1 trillion) in emergency loans to banks. Now, he said, it is up to the 17 member countries to devise a broad vision for the future.
The ECB cannot "fill the vacuum of the lack of action by national governments," he said, urging sweeping reforms to spur growth, reduce deficits and create a Europe-wide banking regulator.
Beyond that, the euro needs a fundamental reworking of its rules and management, he said, calling the current structure "unsustainable unless further steps are taken."

Police: 'Hero' saved others in Seattle shootings

Police: 'Hero' saved others in Seattle shootings

By GENE JOHNSON, Associated Press
5-31-2012

SEATTLE (AP) — Someone inside an artsy Seattle cafe where a gunman opened fire threw stools at the assailant during a shooting rampage police described as "callous, horrific and cold," a move that allowed others to run to safety.
Ian Lee Stawicki was armed with two .45-caliber handguns and began shooting Wednesday morning at Cafe Racer, killing four people. Police said he fled and later killed a female motorist, taking off with her SUV.
Stawicki later killed himself as police closed in.
Police said more people could have been injured or even killed at the cafe were it not for the actions of the man, whom they did not identify. They did not say whether he was a patron or an employee.
"The hero picked up a stool and threw it at the suspect. Hit him. Picked up another stool, as the suspect is shooting and now pointing (a gun) at him and hits him with another stool," Assistant Chief Jim Pugel