Rabu, 29 Mei 2013

NST Online Business Times : latest

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NST Online Business Times : latest

US stocks fall on global growth concerns

Posted: 29 May 2013 04:32 PM PDT

NEW YORK: US stocks Wednesday closed lower amid concerns about global economic growth and the US Federal Reserve's plans for unwinding its aggressive stimulus program.

The Dow Jones Industrial Average fell 106.59 (0.69 per cent) to 15,302.80.

The broad-based S&P 500 gave up 11.70 (0.70 per cent) at 1,648.36, while the tech-rich Nasdaq Composite Index dropped 21.37 (0.61 per cent) to 3,467.52.

The losses came after the Organization for Economic Cooperation and Development trimmed its world economic growth forecast for 2013 to 3.1 per cent from 3.4 per cent.

Peter Cardillo of Rockwell Global Capital said higher US bond yields have also sapped the equity market of momentum. The yield on the 10-year bond, while slightly lower Wednesday, has crossed above 2.0 per cent in recent days for the first time since mid-March.

Smithfield Foods surged 28.4 per cent after announcing an agreement to be acquired by China's Shuanghui International in a deal valuing the US pork and meat icon at US$7.1 billion. If approved by US regulators, the deal would be one of the largest ever purchases of a US company by a Chinese entity.

In other merger and acquisition news, telecommunications firm Sprint Nextel and SoftBank received the green light for the Japanese telecom company's proposed US$20 billion takeover.

Sprint shares added 0.1 per cent. Dish Network, which launched a competing bid for Sprint, fell 2.2 per cent.

Funeral home operator Stewart Enterprises rose 33.2 per cent after competitor Service Corp. International announced a US$1.4 billion deal to acquire it.

Among the Dow members topping the loss column were pharmaceutical companies Pfizer (down 2.5 per cent) and Johnson & Johnson (down 2.2 per cent), as well as Coca-Cola (down 2.7 per cent) and McDonald's (down 2.2 per cent). -- AFP

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More moms bring home the bacon -- and men approve - Newsday

Posted: 29 May 2013 08:01 AM PDT

Originally published: May 29, 2013 10:58 AM
Updated: May 29, 2013 11:16 AM
By KEN SCHACHTER kenneth.schachter@cablevision.com

Photo credit: Fotolia | America's working mothers are now the primary breadwinners in a record 40 percent of households with children — a milestone in the changing face of modern families, up from just 11 percent in 1960.

Still a man's world? Check your pay stub.

A new study by the Pew Research Center found that in a record 40.4 percent of households with children, mom is the sole or primary breadwinner. That compares to 10.8 percent in 1960, according to Pew's analysis of Census Bureau data through 2011.

In the case of married couples with children, almost a quarter of women take home a bigger paycheck than their husbands compared to 3.8 percent in 1960.

PHOTOS: Forbes' 12 'Most Powerful Women'

The trends reflect growing cracks in the glass ceiling that had limited opportunities for women in the workplace and employers' hunger for workers with advanced education.

Allan Mohl, a family therapist with an office in Dobbs Ferry, said that the Hudson Valley men he sees in his practice have made a seamless transition to the new reality.

"I think men are more accepting of the fact that their wives might make more," he said. "There are actually some guys who enjoy staying at home and taking care of the kids. There's been a big shift here."

In 1960, about 16 percent of married couples had a husband who was better educated than his wife versus 7 percent where the wife had advanced further in school.

Fast forward to 2011, however, the study said, and "the pattern has flipped," with 23 percent of women who are better educated than their husbands compared to 17 percent with a husband who has an educational edge.

That educational gap has helped to narrow the wage gap, the study found, with 38 percent of women who had advanced further than their husband academically also out-earning him. That compares to 23 percent of wives who make more than their husbands when they have equivalent education.

The change in attitudes found by Mohl among men in the Hudson Valley extends to those of both sexes nationwide, according to the report.

Sixty-three percent of those surveyed in April rejected the notion that it is bad for a marriage if a wife earns more than her husband compared to 58 percent in 1997.

Mohl said he expects the change in gender roles eventually to extend to the Oval Office.

"The idea of having a woman president is no big deal anymore."

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4.6 earthquake hits off Santa Barbara coast - Los Angeles Times

Posted: 29 May 2013 08:10 AM PDT

A 4.6-magnitude earthquake struck Wednesday morning off the Santa Barbara Coast. (USGS / May 29, 2013)

By Kate Mather

May 29, 2013, 8:10 a.m.

A magnitude-4.6 earthquake struck off the Santa Barbara coast Wednesday morning, according to the U.S. Geological Survey.

Kredit: www.nst.com.my

Rabu, 29 Mei 2013