Today's Intel

Thursday, Oct. 06, 2011

BLOOMBERG

Apple Inc. Chief Executive Officer Tim Cook faces the challenge of crafting the company's strategy following the death of Steve Jobs, a man he called "a visionary and creative genius."

Corporate repatriation legislation to be unveiled today by Senators Kay Hagan and John McCain would let U.S. businesses bring home offshore profits at an 8.75 percent tax rate.

The U.S. congressional supercommittee charged with cutting the deficit may consider whether cuts in federal pensions, pay and health-care benefits should be drafted by an independent commission.

Mitt Romney and Rick Perry are grappling for momentum in the Republican presidential race, competing for donors, supporters and attention as the field of candidates has solidified and they prepare for a debate next week focused on the U.S. economy.

European Central Bank President Jean- Claude Trichet said the ECB will offer banks additional longer- term liquidity and also restart its covered bond purchases.

Applications for jobless benefits increased by 6,000 in the week ended Oct. 1 to 401,000,

The Bloomberg Consumer Comfort Index rose to minus 50.2 in the week ended Oct. 2, from the prior period's minus 53 that was the second-lowest level on record.

AP Top Stories

Syrian troops stormed villages, hunting armed military defectors who fought back in clashes that left at least four soldiers and three others dead, activists said.

The U.N. says the death toll has gone over 100 after a suicide bombing that targeted a government compound in Somalia's war-ravaged capital.

NATO's bombing campaign in Libya, now in its seventh month, will continue despite the collapse of Moammar Gadhafi's regime, alliance officials said Thursday.

The Senate is taking a key vote on whether to move ahead with legislation to impose sanctions on China for keeping its currency undervalued.

Russia said moves by the United States to create a NATO-wide missile shield could undermine its security, ramping up criticism of the project following a new deal that will see U.S. anti-missile warships deployed on the Spanish coast.

The European Central Bank sees "intensified" threats to the euro zone economy and will provide struggling banks with longer-term liquidity to ward off a new credit crunch.

Americans shopped in September, but they weren't paying full price. Several retailers reported strong increases in revenue for the month that beat Wall Street estimates as consumers snagged discounts on clothing and other back-to-school merchandise despite the down economy.

The average rate on the 30-year fixed mortgage fell to 3.94 percent this week, the lowest rate ever. For those who can qualify, it's an extraordinary opportunity to buy or refinance. Mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates.

BBC

The BBC is planning to cut 2,000 jobs and radically change programming in order to cut 20% from its budget over the next five years.

Thousands of protesters have marched on New York's financial district, with rallies also held in other US cities. Powerful unions gave a high-profile boost to the long-running demonstrations, as their members joined the rally in lower Manhattan. Students at several US colleges walked out of classes in solidarity.

Afghanistan is appealing for $142m to feed 2.6 million people this winter as it faces the worst drought for a decade.

The free trade agreement between the US and South Korea has cleared the first hurdle four years after the deal was first agreed.

Mexican security forces arrest a man believed to be a key figure in the country's most powerful drugs gang, the Sinaloa cartel.

Australia's highest court has ruled that two transgender people can be legally recognised as men, even though they have not had complete sex changes.

The death toll in Syria rises to more than 2,900 killed since the pro-democracy protests began in March, the UN human rights office says.

WorldNetDaily

A Wisconsin judge has decided - in a fight over families' access to milk from cows they own - that Americans "do not have a fundamental right to consume the milk from their own cow."

More than 2,000 evangelical Christian chaplains in the military will have no part of it. The organization's statement came in response to last week's announcement by the Department of Defense that chaplains now can participate in same-sex ceremonies and will be allowed to use federal facilities for such exhibitions.

Proposed regulation, designed to implement part of Obamacare, will require all private health plans in the United States to cover sterilizations and all FDA-approved contraceptives--including those that cause abortions-without charging any fees or co-pay.

The Vatican has accused the BBC of an 'act of enormous foolishness' for dumping the terms BC and AD in case they cause offence to non-Christians. The new guidance from the BBC asserts that the abbreviations for Before Christ and Anno Domini (the Year of the Lord) infringed its protocols on impartiality. It instructs employees to instead replace them with the non-religious phrases BCE and BC - Before Common Era and Common Era.

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