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Apple, Samsung CEOs head to court-ordered play date

SAN FRANCISCO (Reuters) - The chiefs of Apple Inc and Samsung Electronics Co Ltd are used to running the show at their global tech empires, but they will be in for a different experience when they arrive at a San Francisco federal courthouse on Monday. Apple's Tim Cook and Samsung's Choi Gee-sung, whose companies are embroiled in bitter patent litigation, have been instructed by a federal judge to appear for court-supervised mediation. A joint court filing in April said that "as directed by the Court, Apple and Samsung are both willing to participate" in the discussions. ...

U.N. seeks Iran nuclear deal before Baghdad talks

VIENNA (Reuters) - The U.N. nuclear supervisor flies to Tehran on Sunday looking for a deal to inspect suspected weapons sites - a potential breakthrough that Iran may hope could persuade the West to start lifting sanctions and deflect threats of war. But though IAEA chief Yukiya Amano scheduled Monday's talks with Iran at such short notice that diplomats said agreement on new inspections may be near, few see Tehran convincing Western governments to ease back swiftly on punitive measures when its negotiators meet big power officials in Baghdad on Wednesday. Amano, director general of the U.N. ...

Lockerbie bomber Megrahi has died in Libya: brother

File photo of convicted Lockerbie bomber Megrahi speaking during an exclusive interview with Reuters TV at his home in TripoliTRIPOLI (Reuters) - The former Libyan intelligence officer convicted of the 1988 bombing of a Pan Am flight over Lockerbie, Scotland that killed 270 people has died, his brother said on Sunday. Abdel Basset al-Megrahi, released from a Scottish prison in 2009 and returned to Libya because he was suffering from terminal cancer, had been in and out of hospital for weeks and was taken for an emergency blood transfusion in April. Megrahi's health had deteriorated quickly overnight, his brother Abdulhakim told Reuters. "He was surrounded by his family and died in his house," he said. He was 60. ...


French Le Pen to lose to leftist in assembly vote: poll

PARIS (Reuters) - An opinion poll published on Sunday showed that French far-right leader Marine Le Pen would lose to far-left leader Jean-Luc Melenchon in her home district in parliamentary elections next month. The Ifop-Fiducial poll showed that Le Pen would win the June 10 first round with 34 percent of the votes against 29 percent for Melenchon but would be beaten 55-45 percent by Melenchon in the June 17 second round. Not winning the parliamentary seat in her political backyard, the northern working-class town of Henin-Beaumont, would be a humiliation for Le Pen, who won 17. ...

Son: Libyan convicted in Lockerbie bombing is dead

FILE - Undated file photo, issued by the British Crown Office of Abdel Baset al-Megrahi, the Libyan man found guilty of the Lockerbie bombing. al-Megrahi who was found guilty of the 1988 Lockerbie bombing of a PanAm flight over Scotland that killed 270 people, was released from a Scottish prison in 2009 on compassionate grounds after being diagnosed with a fatal cancer. He was reported by his son to have died Sunday May 20 2012. (AP Photo/Crown Copyright)Abdel Baset al-Megrahi, a Libyan intelligence officer who was the only person ever convicted in the 1988 Lockerbie bombing, died Sunday nearly three years after he was released from a Scottish prison to the outrage of the relatives of the attack's 270 victims. He was 60.


Explosion near U.N. ceasefire monitor chief's convoy: Reuters witness

DOUMA, Syria (Reuters) - A roadside bomb exploded on Sunday about 150 meters (yards) from a United Nations convoy carrying the head of a Syria ceasefire monitoring mission and a senior U.N. official in the town of Douma, a Reuters witness said. Major General Robert Mood's car was stopped at an army checkpoint when the bomb detonated in an nearby alleyway and the convoy left, the Reuters journalist said, adding that there were no reports of casualties. United Nations Under-Secretary-General for Peacekeeping Operations Hervé Ladsous, who is visiting Syria, was also part of the convoy. ...

Pakistan blocks Twitter over contentious tweets

Pakistan blocked the social networking website Twitter on Sunday because it refused to remove tweets considered offensive to Islam, said one of the country's top telecommunications officials.

Pakistan blocks Twitter over contentious tweets

Pakistan blocked the social networking website Twitter on Sunday because it refused to remove tweets considered offensive to Islam, said one of the country's top telecommunications officials.

Egypt's would-be "president of the poor" touts past

QALYUB, Egypt (Reuters) - The motorcade of Hamdeen Sabahy, a dark horse in Egypt's presidential race, inched over the bumpy roads of this Egyptian town led by a car booming 1960s nationalist music in homage to his hero, Gamal Abdel Nasser. The smiling leftist politician has a long history of opposition, first to Nasser's successor Anwar Sadat and then to Hosni Mubarak, who was deposed in last year's popular uprising. ...

Sudan releases four detained foreigners: officials

KHARTOUM (Reuters) - Sudan has released four foreigners detained near the border with South Sudan following weeks of heavy clashes between the two African neighbors, officials said on Sunday. Sudan said it had arrested the four - a Briton, a Norwegian, a South African and a South Sudanese - last month, accusing them of illegally entering an oil-producing border area to spy for South Sudan. South Sudanese officials denied those allegations, saying the men were working with the United Nations and aid groups clearing mines, and had got lost in the remote territory. ...

Bomb explodes near UN observers' chief in Syria

In this citizen journalism image provided by Sham News Network SNN, an anti-Syrian regime protester, holds up a Cross and Crescent painted with colors of the Syrian revolution flag during a demonstration against Syrian President Bashar Assad, at the Damascus suburb of Yabroud, Syria, Friday, May 18, 2012. Syrian security forces fired tear gas and live ammunition to disperse thousands rallying Friday in Aleppo in what activists said was the largest protest yet in a city that has largely remained loyal to President Bashar Assad during the country's 15-month uprising. (AP Photo/Sham News Network, SNN)THE ASSOCIATED PRESS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS HANDOUT PHOTOA roadside bomb exploded in a restive suburb of the Syrian capital as senior U.N. officials toured the area on Sunday, blowing off the front of a parked vehicle but causing no casualties.


APNewsBreak: 22 states join campaign finance fight

FILE - Montana Attorney General Steve Bullock is seen at an event in which he announced the start of his 2012 gubernatorial campaign on in this Sept. 7, 2011 file photo taken in Billings, Mont. Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending. Bullock argues that political corruption in the Copper King era led to the state ban on corporate campaign spending. A clarification of Citizens United is needed to make clear that states can block certain political spending in the interest of limiting corruption, he said. On Friday, May 18, 2012 Montana's case was given a boost when U.S. Sens. John McCain, R-Ariz., and Sheldon Whitehouse, D-D-R.I., signed on in support. (AP Photo/Matthew Brown, File)Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending.


Powerful quake kills at least 4 in northern Italy

Elderly evacuated from their homes, sit in a classroom of a kindergarten in Mirabello, Italy, Sunday, May 20. 2012. A magnitude-5.9 earthquake shook northern Italy early Sunday, killing at least three people and toppling some buildings, emergency services and news reports said. The quake struck at 4:04 a.m. Sunday between Modena and Mantova, about 35 kilometers (22 miles) north-northwest of Bologna at a relatively shallow depth of 10 kilometers (6 miles), the U.S. Geological Survey said. (AP Photo/Luca Bruno)One of the worst quakes to hit northeast Italy in hundreds of years rattled the region around Bologna early Sunday, killing at least four people, collapsing factories and sending residents running out into the streets, emergency services said.


Italy quake kills four, damages historic buildings

A boy looks at the damaged old tower of Delle Rocche castle after an earthquake in Finale EmiliaSANT' AGOSTINO, Italy (Reuters) - A strong earthquake killed four people, injured dozens and damaged churches, towers and a mediaeval castle early on Sunday, waking terrified citizens across northern Italy and sending thousands running into the streets. The quake, which the U.S. Geological Survey recorded at magnitude 6.0, struck at 4:04 a.m. (0204 GMT) and was followed by a series of jolting aftershocks. "I am 83 and I have never felt anything like this," said Lina Gardenghi, a resident of Bondeno. ...


Italy bombing revives memories of dark era

Children add messages of solidarity for the victims of the explosive device that went off near the A bomb blast outside a high school in southern Italy that killed a 16-year-old student has revived dark memories of the 70s and 80s, when terrorists, anarchists and organized crime carried out dozens of bloody attacks across the country.


Weaker euro zone nations need more support from core: UK

LONDON (Reuters) - The euro zone can protect its currency if its stronger countries provide more support for the weaker to help them deal with their problems, British finance minister George Osborne said in a newspaper on Sunday. The future of Europe's 17-country single currency bloc is under threat from a political stalemate in Greece, which could lead to its departure from the monetary union at unknown costs to the financial system and global economic stability. ...

Lebanese soldiers kill two anti-Assad group members

TRIPOLI, Lebanon (Reuters) - Lebanese soldiers shot dead a Sunni cleric and a second member of a Lebanese political alliance against Syrian President Bashar al-Assad in northern Lebanon on Sunday, security sources said. Sheikh Ahmed Abdul Wahid and Khaled Miraib, members of the March 14 alliance, were shot in their car as they sped through an army checkpoint without stopping, the sources said. Residents of the northern region of Akkar said that they had blocked off roads to protest against the deaths. The army confirmed in a statement that the two men had been shot but gave no details. ...

Italy bomb attack was probably isolated act: investigator

BRINDISI, Italy (Reuters) - The bomb attack which killed a teenaged girl and wounded 10 others in the southern Italian town of Brindisi was probably done by an individual with no links to the mafia, a senior official said on Sunday. The attack on the Francesca Morvillo Falcone school, a vocational training institute offering courses in fashion, tourism and social services, has horrified Italy. Thousands have taken to the streets in demonstrations of sympathy for the school and the family of Melissa Bassi, the teenager who died in the explosion. ...

Lawyers for fugitive Iraqi VP quit case in protest

Iraq's vice president Tariq al-Hashemi arrives to speak to the the Associated Press in Istanbul, Turkey, late Thursday, May 17, 2012. Al-Hashemi says former bodyguards who are testifying against him in a terror trial in Baghdad might have been drugged or blackmailed. The trial in absentia of Tariq al-Hashemi, who is in Turkey, started this week when agents who used to protect him said they were ordered to kill security officials and plant roadside bombs. Interpol has issued a so-called Lawyers for Iraq's fugitive Sunni vice president charged with running death squads that targeted Shiite officials and pilgrims quit the case on Sunday in protest after judges would not let them present evidence at the trial.


Pakistan blocks Twitter over contentious material

Pakistan blocked the social networking website Twitter on Sunday because it refused to remove material considered offensive to Islam, said one of the country's top telecommunications officials.

2 NATO service members killed in Afghanistan

An insurgent attack in Afghanistan killed two NATO service members on Sunday, the alliance said, while Afghan officials reported that a suicide bomber struck a police checkpoint in the country's south.

China's Wen urges more support for growth

BEIJING (Reuters) - China's premier called for additional efforts to support growth on Sunday, signaling Beijing's willingness to take action after a recent series of economic indicators suggested that the world's second-biggest economy will slow further in the second quarter. "We should continue to implement a proactive fiscal policy and a prudent monetary policy while giving more priority to maintaining growth," Premier Wen Jiabao said in comments reported by state news agency Xinhua. Chinese exports rose by 4. ...

Ex-president seeks comeback in Dominican Republic

In this combo of two photographs, Danilo Medina, left, presidential candidate of the ruling Dominican Liberation Party, speaks during an interview on May 15, 2012, and Hipolito Mejia, former president and candidate of the opposition Dominican Revolutionary Party, listens to a question on May 17, 2012, both in Santo Domingo, Dominican Republic. Medina and Mejia are the two leading candidates for the Sunday presidential elections. (AP Photo/Manuel Diaz)A former president whose term ended with the worst economic crisis in the modern history of the Dominican Republic will seek to make a comeback Sunday as he faces an old rival in a race to lead the Caribbean's top tourist destination.


China state-run businesses to invest 350 billion yuan in Chongqing

BEIJING (Reuters) - Thirty of China's biggest state-owned businesses have signed contracts worth about 350 billion yuan ($55.3 billion) with the southwestern municipality Chongqing, Chinese media reported on Sunday, in a sign of Beijing's determination to bolster confidence in the city formerly run by ousted leader Bo Xilai. Since the fall of the once high-flying Chinese official, media reports and some investors have questioned whether Chongqing's debt-laden economy is also headed for trouble. ...

Samsung's mobile chief says has options to settle war with Apple

Students walk out of a showroom at the headquarters of Samsung Electronics in SeoulSEOUL (Reuters) - Samsung Electronics' mobile division chief JK Shin said on Sunday the South Korean technology giant was still seeking to resolve differences in its international patent war with Apple Inc.. "There is still a big gap in the patent war with Apple but we still have several negotiation options including cross-licensing," Shin told reporters at Seoul airport shortly before his departure for the United States. Asked about the prospects for Samsung's memory chip business, Shin said the 4G chip shortage was expected to continue until early in the fourth quarter of this year. ...


Day after historic IPO, Facebook's Zuckerberg weds

This photo provided by Facebook shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to For Facebook founder and CEO Mark Zuckerberg, it was quite a week — from birthday, to IPO, to I DO.


Obama sees 'emerging consensus' on economic fix

President Barack Obama briefs journalists following the G-8 Summit Saturday, May 19, 2012 at Camp David, Md. (AP Photo/Charles Dharapak)Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.


NATO leaders seek common path out of Afghanistan

Canada's PM Harper and Britain's PM Cameron wave in Chicago, ahead of the NATO SummitCHICAGO (Reuters) - NATO leaders gather in Chicago on Sunday for a summit that will chart a path out of Afghanistan, as Western nations seek to fend off fissures in their alliance and ensure Afghanistan can hold a still-potent Taliban at bay when foreign troops withdraw. President Barack Obama hosts the summit in his home town, Chicago, a day after leaders of major industrialized nations tackled Europe's debt crisis, backing keeping Greece in the euro zone and vowing to take steps necessary to revitalize the world economy. ...


Status update: Facebook's Mark Zuckerberg gets married

Facebook co-founder and CEO Zuckerberg and Priscilla Chan are seen in this wedding photo(Reuters) - Facebook co-founder and CEO Mark Zuckerberg wed longtime girlfriend Priscilla Chan on Saturday, announcing the nuptials through a status update on the social networking site. The 28-year-old billionaire's wedding took place a day after Facebook's initial public offering on the Nasdaq stock exchange on Friday. More than 280,000 people "liked" Zuckerberg's status change, which was accompanied by a photo of the smiling couple in wedding attire in a small, verdant outdoor setting with a string of lights behind them. ...


Facebook's Mark Zuckerberg weds on day after IPO

This photo provided by Facebook shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to A day after the historic Facebook IPO, founder and CEO Mark Zuckerberg updated his status Saturday to "married."


Two smaller unions agree deals with Lockheed

(Reuters) - Lockheed Martin Corp said on Saturday it had negotiated new contracts with two smaller unions at its Fort Worth, Texas plant, even as a strike by the larger machinists union stretched into a fifth week. Lockheed said about 70 members of the International Brotherhood of Electrical Workers (IBEW) on Friday ratified a new contract that would extend for four years. On Saturday, a new five-year contract was approved by 430 members of the Office and Professional Employees International Union (OPEIU). Both agreements take effect on Monday. ...

Facebook's Mark Zuckerberg marries sweetheart

This photo provided by Facebook shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to Facebook founder and CEO Mark Zuckerberg updated his status to "married" on Saturday.


Google says it has China's approval for Motorola deal

Women walk past the logo of Google in front of its former headquarters in Beijing(Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones. Google, which will be the newest entrant to the handset market, announced plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business. U.S. ...


Greeks' crisis is personal as well as political

Like many Greeks left unemployed by their country's economic tailspin, Dimitris Spachos finds it easier to talk about his nation's problems than his own.

Chinese activist who fled house arrest lands in US

Chinese activist Chen Guangcheng, in a wheelchair, is helped to head to a commercial flight Saturday, May 19, 2012 at Beijing International Airport in Beijing. Chen was hurriedly taken from a hospital Saturday and boarded a plane that took off for the United States, closing a nearly monthlong diplomatic tussle that had tested U.S.-China relations. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, HONG KONG, JAPAN, SOUTH KOREA AND FRANCEA blind Chinese legal activist who was suddenly allowed to leave the country arrived in the U.S. on Saturday, ending a nearly monthlong diplomatic tussle that had tested U.S.-China relations.


Seaway pipeline sends oil to Texas in historic reversal

HOUSTON (Reuters) - The Seaway pipeline began pumping crude from Cushing, Oklahoma, oil tanks to the heart of the U.S. refining industry in Houston on Saturday, marking a historic shift in the way oil flows across the United States. The first barrels went into the line about noon CDT (1700 GMT) Saturday and volumes were expected to increase within days to 150,000 barrels per day (bpd), spokesman Rick Rainey of operating partner Enterprise Products said by email. Enbridge Inc is a 50 percent partner in the project. ...

Google gets China OK for Motorola deal

FILE - In this May 11, 2011 file photo, attendees chat at the Google IO Developers Conference in San Francisco. Authorities in China have approved Google Inc.'s bid to buy phone maker Motorola Mobility, clearing the way for the $12.5 billion deal to close early next week. The Chinese government approved the deal on Saturday, May 19, 2012, Google spokeswoman Niki Fenwick said. (AP Photo/Marcio Jose Sanchez, File)Authorities in China have approved Google Inc.'s bid to buy phone maker Motorola Mobility, clearing the way for the $12.5 billion deal to close early next week.


Russia Sberbank sees sale certainty after government formed

CEO of Russian Sberbank Gref attends a plenary session of the World Economic Forum in ViennaWASHINGTON (Reuters) - Europe's second largest lender Russia's Sberbank will see some certainty over the planned privatization sale after the new Russian government's lineup is announced on May 21, CEO German Gref said on Saturday. Sberbank initially planned the sale of the 7.6 percent stake, part of Russia's ambitious privatization program, last September but postponed the deal after global risk aversion wiped around $1.5 billion off the stake's value. "It seems to me that, yes, such certainty should emerge (after the cabinet announcement)," Gref said. ...


Google says it won China's approval for Motorola deal

Women walk past the logo of Google in front of its former headquarters in Beijing(Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones. Google, which will be the newest entrant to the handset market, announced plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business. U.S. ...


Obama, G-8: Recovery takes both growth and cutting

World leaders walk to the family photo session at the G-8 Summit at Camp David, Md., Saturday, May 19, 2012. From left are Italian Premier Mario Monti, British Prime Minister David Cameron, German Chancellor Angela Merkel, U.S. President Barack Obama, French President Francois Hollande, Canadian Prime Minister Stephen Harper, Japanese Prime Minister Yoshihiko Noda, Russian Prime Minister Dmitri Medvedev and European Commission President Jose Manuel Barroso. (AP Photo/Philippe Wojazer, Pool)Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.


Obama wants new banking rules put in place soon

President Barack Obama waves as he walks from the White House in Washington, Friday, May 18, 2012, to board Marine One, as he travels to Camp David for the G8 Summit. (AP Photo/Carolyn Kaster)President Barack Obama says the big trading loss at JPMorgan Chase shows the need to finally put in place banking rules he signed into law two years ago. He also is calling on Congress to stop trying to weaken the regulations.


Audi eyes management reshuffle: CEO in magazine

FRANKFURT (Reuters) - Volkswagen's Audi division is looking into a management reshuffle as it eyes an expansion in China, Latin America and the United States, the unit's head told a German magazine. "Against the backdrop of Audi's 'Strategy 2020' it would be negligent not to think about the team line-up," Audi Chief Executive Rupert Stadler told WirtschaftsWoche in an excerpt of an article made available to Reuters on Saturday. There were "of course" discussions about organization and structure in this context but decisions have not yet been taken, he added. ...

Obama pledges tough enforcement of Wall Street reforms

U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp DavidPresident Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such regulation. "We've got to finish the job of implementing this reform and putting these rules in place," Obama said in a weekly radio address that accused some on Wall Street of causing the 2007-2009 economic crisis because they "treated our financial system like a casino. ...


Manulife, Metlife submit bids for ING Asia sale: sources

HONG KONG (Reuters) - Manulife Financial Corp and Metlife are among the companies that have submitted first round bids for ING's entire Asia life insurance business, sources said on Saturday, in what could be the largest Asia M&A insurance deal ever. ING's long awaited sale of Asian life insurance and the asset management units will help the Dutch bancassurer to partly repay the 3 billion euros ($3.81 billion) of state aid plus the 50 percent premium it still owes the Dutch government. The bids were submitted late on Friday and the indicative offers ranged between 6-7 billion euros ($7.6-$8. ...

CFTC opens probe into JPMorgan trading loss: source

(Reuters) - The Commodity Futures Trading Commission (CFTC) has opened an investigation into possible wrongdoing at JPMorgan Chase & Co in connection with the bank's multi-billion-dollar trading loss, a source familiar with the probe told Reuters. The agency will soon disclose the existence of the investigation, the source said on Friday. Earlier on Friday, the New York Times reported that the CFTC had opened an enforcement case, quoting people briefed on the matter. The CFTC would join the FBI and the U.S. ...

Dewey to consider bankruptcy filing: source

A man moves boxes out of the offices of Dewey & LeBoeuf in New YorkNEW YORK (Reuters) - Ailing law firm Dewey & LeBoeuf is considering a bankruptcy filing as new debtholders take a more aggressive track, shifting away from earlier attempts at an out-of-court liquidation, a person familiar with the matter said on Friday. The majority of Dewey's partners have quit as a result of concerns about compensation, and $225 million in bank loans and bond debt. ...


Morgan Stanley made big bet on Facebook

NEW YORK (Reuters) - Lead Facebook Inc underwriter Morgan Stanley took a bet earlier this week when it increased the size of the social networking firm's $16 billion initial public offering and it boosted the price. Thanks to massive hype surrounding Facebook's historic public offering, the wager looked safe. But a rocky first day of trading has raised questions about whether it paid off. After a delayed start to trading, Facebook's shares spent much of the day struggling to stay above the $38 IPO price - and ended with just a 23-cent gain. ...

Historic Facebook debut falls flat

Recent activity lists SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares began trading late Friday morning and opened 11 percent above the $38 offering price, but after peaking at about $45 slid rapidly at the end of the day to close at $38.23. The IPO was the third-largest in U.S. history and valued eight-year-old Facebook at $104 billion. ...


Hedge funds dump $2 billion in gold over a week: CFTC

Gold Bullion from the American Precious Metals Exchange (APMEX) is seen in New YorkNEW YORK (Reuters) - Hedge funds and other money managers liquidated more than $2 billion in gold futures over a week, trade data on Friday showed, before a forceful rebound in the precious metal potentially tripped up some of them. The majority of fund managers also appear to have bet wrongly against wheat, as suggested by the data from the Commodity Futures Trading Commission which showed a net "short" or bearish position against the grain which finished this week with its highest weekly gain in 16 years. "It's still early to say if this rebound in wheat and gold will hold. ...


U.S. says will bar some Motorola Mobility phones

The Motorola PHOTON 4G Summer and the Motorola TRIUMPH Virgin Mobile Summer mobile phones are seen in New YorkWASHINGTON (Reuters) - Some Motorola Mobility smartphones infringe on a Microsoft patent and will be barred from importation to the United States, a U.S. trade panel said on Friday. The order by the U.S. International Trade Commission has been sent to President Barack Obama, who has 60 days to consider whether to overturn it for policy reasons. The legal fight at the ITC is one of dozens globally between various smartphone makers. Google's Android system has become the top-selling smartphone operating system, ahead of mobile systems by Apple, Microsoft, Research in Motion and others. ...


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