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Thursday, July 2, 2009

Evening News Online, 07.02.09

Thursday: The bizarre story of Michael Jackson continues to unfold; Also, new research which may help find a cure for ALS, also known as Lou Gehrig's Disease.

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Urgent Need For Financial Plan

Many corrections from downdraft in the earlier year are anticipated to have complete meltdown on financial market. (Asia Confidential)

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Racing Your Mower

Who knew lawnmowers could be so much fun? This holiday weekend lawnmowers will be raced in the Hoosier State, some reaching speeds of 60 mph. Cynthia Bowers reports.

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Jackson Days Before His Death

One of Michael Jackson's former wives may want custody of their two children. Planning continues for a memorial next week and a video of his final rehearsal has been released. Ben Tracy reports.

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Unemployment Worsens

While there have been signs the recession is easing, unemployment is getting worse. The Labor Department reported its at a 26-year high. Anthony Mason reports.

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Afghanistan In Turmoil

Thousands of U.S. marines are fighting to push the Taliban out of a key province in southern Afghanistan. To the east, a search continues for an American soldier who was kidnapped. Lara Logan reports.

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Mystery Deepens For Flight 447

The mystery deepens for Air France Flight 447, which crashed into the Atlantic with 228 passengers onboard. Investigators are now claiming the plane did not break up in flight. Nancy Cordes reports.

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Treating Lou Gehrig's Disease

More than 300,000 Americans alive today will eventually die of ALS, which is more commonly known as Lou Gehrig's disease. Katie Couric reports on better understanding this mysterious disease.

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Impact Of Bad Employment In Oil Market

Oil is set for third weekly loss on rising U.S unemployment. (The Bloomberg Edge)

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Emerging Markets Are Back Inflow

Net Inflows in Emerging Markets equity investors helps to carry a record performance in developing Asian Stock Fund. (The Bloomberg Edge)

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Investment On Chinese Shampoo Maker

Herbal shampoo maker BaWang begins trading today in Hong Kong. (The Bloomberg Edge)

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Europe Union Scraps Ban On Supermarkets

Europe Union has scrap a ban on ugly fruits and vegetable that has kept them out of supermarket. (The Trade)

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Buyout Firms Balk At Federal Deposit Insurance Corporation

Buyouts firms want a new rule to prevent private equity fund from slipping the investment to short term profit. (The Trade)

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China Offers Tax Breaks To Reduce Reliance On Dollar

Hong Kong Monetary Authority signed a memorandum with People's Bank of China on Yuan trade settlement. (The Trade)

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Kamata's Fund Has Risen 123%

Societe Generale's Kamata picks out of favor companies and waits for them to rise. (The Trade)

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New York Stock Exchange Close Extended

New York Stock Exchange extends the trading to 16 hours and 15 minutes. (The Trade)

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Jackson's Last Concert Rehearsal

Footage released by AEG Live shows Michael Jackson rehearsing for his 'This Is It' concert that was to be his comeback.

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China Allows Yuan Trade Settlement

China pushes for increase representation in International Monetary Fund. (The Trade)

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Inside Look In Australian Stocks

Rio Tinto gets 94.76% acceptance for rights that will trade in Australia. (The Trade)

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U.S And Europe Cuts Their Export Demands From Japan

U.S and Europe cuts their export demands on consumer electronics from Japan. (The Trade)

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Notebook- Energy

Katie Couric discusses Congress' new energy bill that aims to develop new and cleaner ways to keep the nation running. The measure passed the House and now heads to the Senate.

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Spotlight - NYSE Euronext

Live! From NYSE Trading Floor - Interview with NYSE Euronext Head of Markets VP Larry Leibowitz (Bloomberg News)

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Economic Expectations - Unemployment Rate May Reach 15%

Interview with David Tice of Federated Investors (Bloomberg News)

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Market Close 7.2

NYSE Extends Trading to 4:15 Due to Technical Glitche; S&P Falls 2.8%; Dow Falls 2.5%; Nasdaq Falls 2.7%; Live! From NYSE Trading Floor - Interview with Alan Valdes of HIlliard Lyons (Bloomberg News)

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Inside Look - JPMorgan's "Smoke Stackey" Recovery

Analysis and Discussion with Thomas Lee of JPMorgan Securities (Bloomberg News)

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Sound of the Senate- From Garth Brooks to James Brown

Ever wonder who picks that music you hear when you call your senator and you're put on hold? We did. Turns out, like everything in the Senate, it's more complicated than meets the eye... er, ear.

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Inside Look - Traveling in a Recession

Firing Up Your Fourth of July - Interview with Amy Farley of Travel & Leisure Magazine (Bloomberg News)

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Obama Addresses Job Losses

Live! From White House: President Barack Obama Holds News Conference (Bloomberg News)

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Inside Look - More Jobs Lost in June

Exclusive Interview with Biden Chief Economic Adviser Jared Bernstein (Bloomberg News)

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How To Dump Your Doc

Ever considered firing your doctor? Dr. Jon LaPook takes a look at when and how you should do it.

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In-Depth Look - Manhattan Prices Plummet

Studios Drop 16% to $405K, 1BRs Drop 17% to $650K, and 2BRs Drop 23% to $1.2 Million (Bloomberg News)

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In-Depth Look - "The Greatest Program That Never Occured"

Banks Are Repackaging Bad Loans Without PPIP (Bloomberg News)

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Afternoon Newsbites - Madoff Scandal, Lear Bankruptcy

Federal Marshals at Madoff Apartment; According to Washington Post, Lawyer Warned SEC About Madoff; Lear to File for Bankruptcy (Bloomberg News)

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Currency Outlook - Still Seeing Relative Dollar Strength

Analysis and Discussion with Vassilli Serebriakov of Wells Fargo Bank (Bloomberg News)

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In-Depth Look - The AIG Roller Coaster

AIG's Reverse Split Has Raised Stock Price; Shorting AIG "Nearly Impossible" as Short Sellers Pay 50% to Borrow Stock (Bloomberg News)

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A Beach Getaway Workout

On vacation, the warm sand along with your beach gear make a great combo to help you workout. Maggie Rodriguez gets tips from experts Fred and Elizabeth who run Exhale Spa's Core Fusion program.

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Guardians Of Jackson Legacy

Early Show anchors talk to Priya David about the two women Michael Jackson named in his will to raise his three children, his mother Katherine and singer Diana Ross, and where Debbie Rowe stands.

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GOP Ashamed of Sanford

S.C. Gov. Mark Sanford's many indiscretions have led Republican leaders to call for his resignation.

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Spotlight - Jobvite.com

Social Networking & Jobs - Interview with Jobvite CEO Daniel Finnigan (Bloomberg News)

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Jackson's Final Wishes

Attorney Jack Ford comments on details of Michael Jackson's will including the intentional omission of ex-wife Debbie Rowe and the named guardians of his children. Bill Whitaker reports.

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Breaking Gas Myths

With the price of gas rising, Moneywatch.com's Jill Schlesinger put the brakes on gas mileage myths.

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Dramatic River Rescue

Dave Price talks to the construction crew that plucked a woman from an Iowa river by crane after her boat capsized over a dam.

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Deadliest Travel Holiday

With the economy in question, traveling is down during the independence day holiday. Terrell Brown reports.

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FDIC Says Buyout Firm Must Be Capitalized for Three Years

FDIC Board Weighs Rules for Buyout Firms Acquiring Failed Banks; According to FDIC, Firms Must Pledge to Pay FDIC Losses in Cross Guarantees (Bloomberg News)

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International Perspective - ECB in Wait-and-See Mode

ECB Rate Decision - Analysis and Discussion with Jacques Cailloux of Royal Bank of Scotland (Bloomberg News)

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Python Strangles Fla. Baby

An eight-foot Python snake escapes its tank and entered a two-yr.-old's crib, strangling it to death, reports Susan Roberts.

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World & National Newsbites

U.S. Marines Drive Into Afghanistan; North Korea Fires More Missiles; U.S.-Russia Summit Next Week (Bloomberg News)

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Inside Look - Where the Jobs Are

Interview with Lee Hecht Harrison President Peter Alcide (Bloomberg News)

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Rumors Of Jackson's Drug Use

Federal investigators are looking into possible drug involvement in Michael Jackson's death as a British security guard reveals his fear for Jackson's death over alleged drug use, reports Sandra Hughes.

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Jackson Security Speaks Out

Mike La Perruque, Michael Jackson's head of security for several years, tells Maggie Rodriguez some surprising inside stories about the King of Pop.

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In-Depth Look - Hotel Loan Double As Recession Cuts Travel

Interview and discussion with Kenneth Rosen of the University of California Berkeley. He talks about hotel economy and the risk behind its loans. (Bloomberg News)

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In-Depth Look - Wall Street Job Picture

Interview and discussion with Jeanne Branthover of the Boyden Global Executive Search. She shares her thoughts regarding about Goldman Sachs move to pay its employees with an average of $700,000 per piece and she gives her insights about the unemployment rate in the economy. (Bloomberg News)

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Market Open 7.2

Lydia Thew is live in the New York Stock Exchange were stocks are set to kick of lower. (Bloomberg News)

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In-Depth Look - Jobless Claims

Interview and discussion with Jack Ablin of the Harris Private Bank. He shares his insight about the unemployment rate we are getting from the economy. (Bloomberg News)

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Sweden's Central Bank Cuts Rate

Sweden's Central Bank unexpectedly cuts its key rate to a record low and gives loans to the nation's lenders. (Bloomberg News)

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In-Depth Look - Market's Thinking Ahead Of Jobs Report

Interview and discussion with David Rovelli of the Canaccord Adams. He talks about the unemployment numbers out in the economy. (Bloomberg News)

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Kmart Offers Discounts To Unemployed

Kmart begins giving discounts to the unemployed in Michigan, the state with the highest unemployment rate in the nation. (Bloomberg News)

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In-Depth Look - Banks Burn By Home Bonds Raise Holdings

Interview and discussion with Robert Clarke of the Bracewell & Giullani L.L.P. He talks about banks mortgages securities and how they handle them. (Bloomberg News)

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In-Depth Look - Banks Increase Mortgage Bond Holdings

Interview and discussion with Sean Kirk of the Seaport Group. He says the rise in prices in the biggest drop we have seen has been trading the securities. (Bloomberg News)

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Exelon Boosts Bid For NRG

Exelon make a bid for N.R.G. but N.R.G. says the bid was too low. (Bloomberg News)

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Rockin' Out Without A Guitar

A group of enthusiasts break a new record, they shred their way into history by playing air guitar. (Bloomberg News)

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In-Depth Look - 70th Anniversary Of Gehrig's Farewell Speech

Interview and discussion with David Hunt of the Hunt Auctions. He talks about Gehrig's memorabilia and the auction that will take place for his memory. (Bloomberg News)

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In-Depth Look - Does China Want FX Debate At G-8?

Interview and discussion with Keith McCullough of the Research Edge. He talks about China's economy. (Bloomberg News)

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Yankees Knocks Debt Out Of The Park

High-priced seats and sky boxes are not selling too well, but revenue from the new Yankee stadium is still almost five times the amount need to recover debt service. (Bloomberg News)

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Leaves Estate To Trust - Jackson

Michael Jackson's will has been made public. The late singer left his entire estate to a family trust. (Bloomberg News)

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Jolie Is Top-Earning Actress

Angelina Jolie's earning are more than any other actress in Hollywood these days. (Bloomberg News)

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$100 Million Man

Tiger Woods tops the "Top 20" highest paid athletes. (Bloomberg News)

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Singh Drops Stanford Logo - NY Post

Pro golfer Singh decides to quit wearing the Stanford logo. (Bloomberg News)

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Wimbledon Ticket Prices Soar

Wimbledon tickets are the hottest today. Andy Murray entry to the semi final rounds makes tickets goes to the roof. (Bloomberg News)

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Slump In Manhattan Real Estate

The prices of Manhattan apartments fall. Lehman and Bear Stearns tries to catch up. (Bloomberg News)

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News Corp Pays Chase $8 Million Base

Chase Carey is back with a salary of more than $8 million a year and will receive a $10 million signing bonus and could get up to $25 million based on performance. (Bloomberg News)

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Value Stocks Rally In 2Q

The stock market advances on the back of some company's with some of the worst finances. (Bloomberg News)

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Virgin Atlantic Cuts Capacity, Plans Talks On Job Cuts

British entrepreneur Richard Branson says his airline was in much better shape than British Airways. (Bloomberg News)

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European Market Check

The pound weakens against the greenback. A lot of the reaction is cause by the unemployment data that we get from across the Atlantic and in the U.S. (Bloomberg News)

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Asian Market Check

The Shanghai Composite index rally to a 13-month high just two days into the second quarter. (Bloomberg News)

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US Sees GM IPO In 2010

The U.S. government says the new General Motors start to sell shares next year. (Bloomberg News)

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Filing For Bankruptcy - Lear

Lear, the world's second largest maker of automotive seats prepares to file for bankruptcy. (Bloomberg News)

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President Obama's Health-Care Pitch

President Obama vows to get a health care reform plan passed this year. (Bloomberg News)

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NYSE Admits AIG Suspension Mistake

A.I.G. was accidentally listed as suspended by the New York Stock Exchange website yesterday. (Bloomberg News)

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Morgan Stanley May Post Loss - NYT

New York Times reports that Morgan Stanley may report a second quarter loss because the firm decides to take fewer trading risks due to the financial crisis. (Bloomberg News)

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Big Payouts Returning? - WSJ

Big pay packages are about to make a comeback on Wall Street. Report says that Goldman Sachs is on track to pay close to $700,000 per employee this year. (Bloomberg News)

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Open Dialogue In Honduras?

Honduras' interim President says he is willing to hold a dialogue with Zelaya when he returns to the capital. (Bloomberg News)

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Major Assault Launch In Afghanistan

An estimated 4,000 U.S. marines sweep into the Southern Districts and move into towns and villages to protect civilians from the Taliban. (Bloomberg News)

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GM's Big 'Garage Sale'

General Motors prepares to sell its best assets and plans to auction off its worst holdings to the highest bidders. (Bloomberg News)

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ECB Rate Decision Due At 7-45 AM ET

The European Central Bank decides whether recent green shoots will affect the benchmark rate. (Bloomberg News)

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China Won't Seek Dollar Discussion At G-8

China says they don't have plans to push for a new currency reserve debate on the next agenda. A Chinese official says he is not aware of a plan to discuss the issue at the summit but renew calls for a more stable dollar. (Bloomberg News)

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A Ray Of Hope In The Jobs Market

U.S. job losses revise lower in March and April. (Bloomberg News)

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Unemployment Rate Nears Double Digits

U.S. jobless claims hits double digits. (Bloomberg News)

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European Job Crisis

European areas unemployment rate rises to 9.5% Vs. 9.3%. (Bloomberg News)

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Blocked Palestinian hip hop artists face off via videoconference

In the rhythm and rhyme of hiphop, many young Palestinians, like their counterparts across the world, have found a way to recount their tales, and their troubles. The genre is so popular it's even sparked a Palestinian hiphop competition. But because they cannot leave their occupied territories, participants in Gaza and the West Bank are forced to face off via videoconference. An AFPTV report.

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Bolivia eyes lithium riches in spectacular salt desert

Bolivia, the poorest country in South America, is sitting on a bonanza in the Salar de Uyuni. The desert contains 5.4 million tons of lithium, around half the world's total supply. The soft metal is already used extensively in batteries for mobile telephones and computers, and is a key element for the electric cars expected to be mass-produced tomorrow.

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Middle East- Baghdadis React to U.S. Withdrawal

On the streets of central Baghdad there were celebrations, but some skepticism, about the American/Iraqi security plan timetable.

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The Minimalist- Pea Dip With Parmesan

Mark Bittman takes dip in a new direction.

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Real Estate- Habitats- Three-Room Circus

Professional clowns Seth Bloom and Christina Gelsone travel the world performing, but home is a New York City apartment, which they renovated as a rehearsal space.

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Russian Cold War bunker now a museum

Beneath the Russian capital lies a town of its own: a maze of rooms and corridors built during the cold war in case of a nuclear attack. For the last couple of years, one of Moscow's nuclear bomb shelter has been turned into a new, interactive museum. The AFPTV went on a tour.

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Coming back from the dead

Researchers are employing ingenious means to solve the haunting mystery of near-death experiences. Are they real, or just imagination? A British hospital is getting equipped with foolproof equipment to test people who are clinically dead, but then come back. A French researcher has developed his own methods.

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Surge in US job losses 'sobering' - Obama

US President Barack Obama said Thursday the latest surge in job losses was "sobering," after new government figures pushed the unemployment rate to a new 26-year high of 9.5 percent.

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Video shows vigorous Jackson before death

A video released Thursday showed Michael Jackson vigorously practicing a song-and-dance routine days before his death, supporting accounts he had been in good health.FOOTAGE HANDOUT AEG LIVE.

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Air France jetliner did not break up in mid-air- probe

The Air France jetliner that crashed in the Atlantic with 228 people on board did not break up in mid-air, the French bureau leading the investigation said Thursday following a month-long probe into the June 1 disaster, the worst crash in Air France's history. Raw footage of the air accident investigation bureau press conference.

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US Marines storm south in major Afghan offensive

US Marines launched a major offensive into the Taliban heartlands of southern Afghanistan before dawn on Thursday as President Barack Obama's new war plan swung into action. Analysis from Kabul.

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Teen recovers after miracle rescue from Comoros jet crash

The only known survivor of the crash of the Yemeni airliner clung to wreckage in the Indian Ocean for more than 10 hours before she was rescued. Her father spoke of how he was "split between relief and pain" over the rescue of his daughter and the death of her mum.

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China's violin industry aims high

The mass-produced violinsproducing heroic music during China's Cultural Revolution have given way to a new generation of sophisticated instruments. A handful of violin makers are even carving a name for themselves on the international music scene.

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Protesters block check-in at Marseille airport after air crash

Some 200 protesters from the Comoros Islands in the Indian Ocean stormed Marseille airport on Thursday to block the check-in for a flight by the airline Yemenia, whose plane crashed earlier this week killing 152 people.

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Machine breaks the daily grind for women in Burkina Faso

It's a little machine, but it's had a big effect on the lives of women in Burkina Faso. Motorised grain grinders, funded by international aid, are freeing them up to focus more on children's education and money-making enterprises. But the machine hasn't broken down all barriers between the sexes.

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Comoros crash survivor returns home to France

12-year-old girl Bahia Bakari, the only known survivor among the 153 people on the Yemenia Airbus A310 jet, which crashed off the Comoro Islands on Tuesday, was brought home on a French government plane on Thursday.

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France's elite helicopter crews prepare for Afghan combat

Three of France's newest military helicopters are due for imminent deployment in Afghanistan. The Tiger aircraft will be crucial in fighting Taliban militants who have stepped up attacks. In France, the helicopter crews are being put through their paces ahead of combat operations.

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