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KL shares open lower Posted: 02 May 2013 06:47 PM PDT Bursa Malaysia opened lower this morning, continuing its bearish trend from yesterday, on lack of buying interest ahead of the 13th general elections on Sunday, dealers said. At 9.03am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.27 points lower at 1,708.19, after opening 1.92 points easier at 1,711.54. Market breadth was negative with 39 gainers, 58 losers and 100 counters unchanged, 1,414 counters untraded and 32 others were suspended. Turnover stood at 13.15 million shares worth RM11.78 million. HwangDBS Vickers Research said the local bourse may hit a high note today, before polling on Sunday, with the benchmark FBM KLCI breaching its existing record level of 1,718.44 points and challenge the immediate resistance barrier of 1,720 points today. "Giving investors a further boost is the overnight rise on Wall Street. US barometers were up between 0.9 per cent and 1.3 per cent following a drop in jobless claims and an interest rate cut by the European Central Bank," it said in a research note today. The research house said stocks that could attract interest today included Digi, RHB Capital, UEM Land and YTL Corporation. "Separately, Genting shares may come under pressure after its Singapore-listed Genting Singapore's Jan-Mar quarterly results came in below expectation," it added. On the score board, the Finance Index erased 32.73 points to 15,907.51, the Industrial Index lost 4.82 points to 2,853.79 and the Plantation Index fell 36.04 points to 8,040.54. The FBM Emas Index gave up 30.03 points to 11,634.60, the FBMT100 lost 30.13 points to 11,484.40, the FBM Ace Index declined 2.23 points to 3,928.51 and the FBM Mid 70 Index slipped 11.47 points to 12,799.82. Among actives, Daya Materials rose one sen to 21 sen, Systech and Malaysian Airline System was both flat at 8.5 sen and 36.5 sen, respectively. Heavyweights, Maybank lost one sen to RM9.61, Axiata Group was unchanged at RM6.74 and CIMB Group shed one sen to RM7.69.-- Bernama

S&P 500 reaches new high Posted: 02 May 2013 04:46 PM PDT NEW YORK: The S&P 500 reached a new all-time high on Thursday, boosted by an expected European Central Bank interest rate cut and a surprisingly good US jobless claims report. The S&P 500 rose 14.89 points (0.94 percent) to reach 1,597.59, narrowly above the previous record set Tuesday. The Dow Jones Industrial Average gained 130.63 points (0.89 percent) to 14,831.58. The tech-rich Nasdaq Composite Index rose 41.49 points (1.26 percent) to 3,340.62. The gains were a reversal from Wednesday, when all three indices posted solid losses on weak US and Chinese economic data. "Investors returned to the risk-trade after the ECB lowered its key interest rate in an effort to spur growth and pull the eurozone out of a recession," said Wells Fargo in a market note. "An improvement in the employment picture is also helping lift the market." New claims for US unemployment benefits -- an indicator of the pace of layoffs -- fell by 18,000 to 324,000, the lowest level since mid-January 2008. General Motors increased 3.2 percent after reporting a 13.8 percent drop in first quarter earnings due to weakness in North America. Analysts were cheered by smaller-than-expected losses in GM's European operations Facebook added 5.6 percent after reporting a 58 percent increase in first-quarter profit, fueled by mobile advertising growth. Facebook said its monthly active users rose 23 percent from a year ago. Yelp, the online reviews site, jumped 27.4 percent after its first quarter sales beat analyst projections, with a68 percent gain, even as it still reported a net $4.8 million loss overall. Credit-card firm Visa gained 5.7 percent after topping earnings expectations by 11 cents per share. Kellogg dipped 1.8 percent after reporting an 11 percent decline in profits. The company reaffirmed its full-year profit forecast. -- AFP

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Obama Nominates Pritzker for Commerce Post - New York Times Posted: 02 May 2013 08:36 AM PDT By MICHAEL D. SHEAR Published: May 2, 2013 WASHINGTON — President Obama on Thursday morning selected Penny Pritzker, an heir to the Hyatt Hotel fortune and a longtime financial backer of the president, to be the new commerce secretary. The announcement by Mr. Obama came shortly before he departed for a three-day trip to Mexico and Costa Rica. "Penny is one of our country's most distinguished business leaders," Mr. Obama said. "She's got more than 25 years of management experience in industries including real estate, finance, and hospitality. She's built companies from the ground up. She knows from experience that no government program alone can take the place of a great entrepreneur. She knows that what we can do is to give every business and every worker the best possible chance to succeed by making America a magnet for good jobs." The president also selected Michael Froman, a top national security official, to be the new United States trade representative. Mr. Obama said that Mr. Froman "has established himself as one of the world's foremost experts on our global economy." "He has won the respect of our trading partners around the world." Mr. Obama said. "He has also won a reputation as being an extraordinarily tough negotiator while doing it. He does not rest until he's delivered the best possible deal for American businesses and American workers. He's fought to make sure that countries that break the rules are held accountable." Mr. Obama said that he had gotten to know Ms. Pritzker and Mr. Froman not just as leaders and professionals, but also as friends. "And one of the reasons I'm proud to nominate them is they don't forget what matters," he said. "They know this is not about just growing balance sheets. It's about growing opportunity for people. It's about growing a sense of security for the middle class. And, most of all, they operate with integrity and they understand that public service is a privilege, and you've got to do it right when you get involved on behalf of the American people."

Benedict XVI returns to Vatican for first time - USA Today - USA TODAY Posted: 02 May 2013 09:47 AM PDT Pope Francis, right, and Pope emeritus Benedict XVI meet in Castel Gandolfo on March 23.(Photo: L'Osservatore Romano via AP) Story Highlights Pope Francis welcomed Benedict outside his new retirement home The Vatican said Benedict, 86, was pleased to be back The Vatican provided no television images of Benedict's return Thursday VATICAN CITY (AP) — Emeritus Pope Benedict XVI came home to the Vatican on Thursday for the first time since he resigned Feb. 28, beginning an unprecedented era for the Catholic Church of having a retired pontiff living alongside a reigning one. Pope Francis welcomed Benedict outside his new retirement home — a converted monastery on the edge of the Vatican gardens — and the two immediately went into the adjoining chapel to pray together, the Vatican said. The Vatican said Benedict, 86, was pleased to be back and that he would — as he himself has said — "dedicate himself to the service of the church with prayer." Francis, the statement said, welcomed him with "brotherly cordiality." Unlike the live, door-to-door Vatican-provided television coverage that accompanied Benedict's emotional farewell in February, the Vatican provided no television images of his return Thursday. The low-key return followed the remarkable yet somewhat alarming images transmitted on March 23 when Francis went to visit Benedict at the papal retreat in Castel Gandolfo, south of Rome, where Benedict was living. In that footage, Benedict appeared visibly more frail and thinner only three weeks after resigning. Some Vatican officials questioned whether those images should have been released, given how frail Benedict appeared. The Vatican spokesman, the Rev. Federico Lombardi, has acknowledged Benedict's post-retirement decline but has insisted the 86-year-old German isn't suffering from any specific ailment and is just old. "He is a man who is not young: He is old and his strength is slowly ebbing," Lombardi said this week. "However, there is no special illness. He is an old man who is healthy." Benedict chose to leave the Vatican immediately after his resignation to physically remove himself from the process of electing his successor and from Pope Francis' first weeks as pontiff. His absence also gave workers time to finish up renovations on the monastery tucked behind St. Peter's Basilica that until last year housed groups of cloistered nuns who were invited for a few years at a time to live inside the Vatican to pray. In the compact, four-story building, Benedict will live with his personal secretary, Monsignor Georg Gaenswein, and the four consecrated women who look after him, preparing his meals and tending to the household. The building also has a small library, a study and a guest room for when his brother, Monsignor Georg Ratzinger, comes to visit. "It is certainly small but well-equipped," Lombardi said. When Benedict announced his intention to resign — the first pontiff to do so in 600 years — questions immediately swirled about the implications of having two popes living alongside one another inside the Vatican. Benedict fueled those concerns when he chose to be called "emeritus pope" and "Your Holiness" rather than "emeritus bishop of Rome." He also raised eyebrows when he chose to continue wearing the white cassock of the papacy. Given the political intrigues that plague the Vatican, it wasn't much of a stretch of the imagination to wonder if some cardinals, bishops and monsignors — not to mention ordinary Catholics — might continue making Benedict their point of reference rather than the new pope. But Benedict made clear on his final day as pope that he was renouncing the job and pledged his "unconditional reverence and obedience" to his then-unknown successor. It was a pledge he repeated in person on March 23 when Francis went to have lunch with him. It was during that visit that the world saw how weak Benedict had become: Always a man with a purposeful walk, he shuffled tentatively that day, using his cane. Francis, for his part, seems utterly unfazed by the novel situation. He has frequently invoked Benedict's name and work and has called him on a half-dozen occasions, making clear he has no intention of ignoring the fact that there's another pope still very much alive and now living on the other side of the garden. Francis' gestures to Benedict during that March 23 visit were also remarkable: He refused to pray on the special papal kneeler in the small chapel of Castel Gandolfo, preferring to join Benedict on a kneeler in the pews, and referring to his predecessor as his "brother." Now that they're neighbors, they might bump into one another on walks in the Vatican gardens or at the shrine to the Madonna, which is just a stone's throw from Benedict's new home. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Ringgit opens slightly lower versus US dollar Posted: 01 May 2013 06:59 PM PDT The ringgit opened slightly lower against the US dollar, in early trading Thursday, on weak demand from investors, a dealer said. At 9.19am, the ringgit was quoted at 3.0475/0505 versus the greenback against Tuesday's 3.0410/0440. The foreign exchange market was closed on Wednesday for Labour Day. The dealer said investors' interest was more in favour of the US dollar due to lack of clear market direction for the local note. "Most investors preferred to keep safe assets like the US dollar," he dealer added. Meanwhile, the ringgit was traded lower against other major currencies. The local note weakened against the Singapore dollar to 2.4704/4748 from 2.4633/4678 on Tuesday and fell sharply against the euro to 4.0160/0209 from 3.9702/9751 previously. It depreciated against the Japanese yen to 3.1301/1345 from 3.1139/1185 yesterday and declined against the British pound to 4.7419/7472 from 4.7120/7182 on Tuesday.-- Bernama

Short-term rates to remain stable Thursday Posted: 01 May 2013 07:01 PM PDT Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia intervenes to mop up excess liquidity from the financial system. The central bank estimated today's liquidity at RM35.571 billion in the conventional system and RM15.465 billion in Islamic funds. Bank Negara will call for four Al-Wadiah tenders, namely RM1.6 billion for seven days, RM200 million for 14 days, RM700 million for 28 days and RM1.7 billion for 36 days. The central bank will also conduct a RM10 billion range maturity auction programme for between five days and 92 days, as well as, a RM400 million repo tender and a RM150 million Commodity Murabahah Programme for 14 days. At 4pm, Bank Negara will conduct up to RM25.2 billion in conventional overnight tender and a RM11 billion Al-Wadiah overnight tender.-- Bernama

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3 more suspects taken into custody in Boston bombing case, police say - Fox News Posted: 01 May 2013 09:25 AM PDT Three additional suspects were taken into custody in the Boston Marathon bombing case, the Boston Police Department tells FoxNews.com.  Police would not confirm when the suspects were taken into custody, and referred further questions to the FBI. Prior to the latest development, authorities had named only brothers Tamerlan and Dzhokhar Tsarnaev as suspects in the April 15 bombing at the finish line of the world famous race. Two of Dzhokhar Tsarnaev's UMass-Dartmouth roommates, Dias Kadyrbayev and Azamat Tazhayakov, are from Kazakhstan and faced an immigration hearing this morning, sources said. Sources told Fox News they face obstruction charges in connection with the bombing. The identity of the third suspect is unclear.   Kadyrbayev and Tazhayakov are suspected of taking computers and other equipment from Dzhokhar Tsarnaev's apartment and trying to dispose of it after the bombings, sources told Fox News. Police did not confirm the gender of the third suspect. More information was expected to be provided by the US Attorney's office later Wednesday. Three people were killed and more than 200 injured when the pair allegedly set two bombs, at least one of which was made from a pressure cooker packed with explosives and shrapnel, amid the crowd.  Tamerlan Tsarnaev died April 19, after a shootout hours after authorities showed the brothers on surveillance video and named them as suspects.  Dzhokhar Tsarnaev, 19, is in a prison hospital after being wounded in the shootout with police as he and his brother made their getaway attempt. He is charged with using a weapon of mass destruction to kill, a crime that carries a potential death sentence. Authorities have searched the Rhode Island home of the parents of Katherine Russell, Tamerlan Tsarnaev's widow. Click for more from MyFoxBoston.com   Print   Email   Share   Comments Recommend Tweet Related Stories Information sharing before bombings under review Bomber Burial: Tsarnaev Funeral Planned After Widow Releases Body Share This Article

Skeleton of teenage girl confirms cannibalism at Jamestown colony - Washington Post Posted: 01 May 2013 08:20 AM PDT The first chops, to the forehead, did not go through the bone and are perhaps evidence of hesitancy about the task. The next set, after the body was rolled over, were more effective. One cut split the skull all the way to the base. "The person is truly figuring it out as they go," said Douglas Owsley, a physical anthropologist at the Smithsonian Institution. In the meantime, someone — perhaps with more experience — was working on a leg. The tibia bone is broken with a single blow, as one might do in butchering a cow. That's one possible version of an event that took place sometime during the winter of 1609-1610 in Jamestown. What's not in doubt is that some members of that desperate colony resorted to cannibalism in order to survive. That cannibalism occurred during the colony's "starving time" was never actually in much doubt. At least a half-dozen accounts, by people who lived through the period or spoke to colonists who did, describe occasional acts of cannibalism that winter. They include reports of corpses being exhumed and eaten; a husband killing his wife and salting her flesh (for which he was executed); and the mysterious disappearance of foraging colonists. The proof comes in the form of fragments of a skeleton of a girl, about age 14, found in a cellar full of debris in the fort that sheltered the starving colonists. The skull, lower jaw and leg bone — all that remain — have the telltale marks of an ax or cleaver and a knife. "Historians have to decide whether this type of thing happened," said Owsley, who has examined thousands of skeletal remains, both archaeological and forensic. "I think that it did. We didn't see anybody eat this flesh, but it's very strong evidence." James Horn, head of research at Colonial Williamsburg Foundation and a historian on the colony, said the discovery "adds a significant confirmation to what was reported to have occurred at Jamestown." Further, it's the only physical evidence of cannibalism in any New World colony, though, as with Jamestown, there are written accounts of the practice in others. "I tend to be sparing in the use of words like 'unique.' But I think this is one of those finds that literally is," Horn said. About 130 people inhabited the fort in November 1609. By spring, there were about 60. The girl, most likely a maidservant, though possibly the daughter of a colonist, was one of the casualties. Her bones were unearthed last August in a part of the fort still under archaeological excavation. About 18 inches of fill remain in the cellar; it's possible more of her skeleton will be found. Enough of her skull exists, however, to imagine what she might have looked like, using CT scanning, computer graphics, sculpture materials and demographic data. The bones, the reconstruction of her head, and the story were presented Wednesday at an event at the Smithsonian's National Museum of Natural History. They will be displayed at Jamestown. The starving time nearly ended the colony, which was riven by internal dissent, under frequent attack by Powhatan Indians, and short of food almost from its founding in 1607.

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Obama: Need All Facts on Syria Chemical Weapons - Voice of America - Voice of America Posted: 30 Apr 2013 08:39 AM PDT U.S. President Barack Obama says the U.S. will "rethink" its options for dealing with Syria if it can establish that the government of President Bashar al-Assad has used chemical weapons against its people. President Obama repeated to a news conference Tuesday - 100 days into his second term -  that the use of chemical weapons would be a "game changer," but he said he needed to get all the facts. Speaking at the White House, Mr. Obama said as early as last year, he asked the Pentagon, military and intelligence officials to prepare for him what options might be available. But he refused to go into detail about what kind of military actions might be involved. He said the U.S. is already "deeply engaged" in trying to bring about a solution in Syria. Boston bombing President Obama says Russia has been "very cooperative" with U.S. authorities since the deadly twin bombing earlier this month at the Boston Marathon, allegedly carried out by two ethnically Chechen brothers. Obama said suspicions still remain between U.S. and Russian intelligence and law enforcement agencies that date back 20 to 30 years to the Cold War, but he said relations are continually improving. He said Russian President Vladimir Putin is committed to working to make sure Russian authorities cooperate fully with the Boston investigation. On Americans' response to the bombings, he said one of the things he has been most proud to see is a sense of "resilience and toughness." He said Americans are not going to be intimidated and will continue to live their lives, while doing everything possible to prevent future attacks. Budget woes President Obama says there are "commonsense solutions" to the United States' budget and economic problems, but that he cannot force Republicans to embrace them. Obama told reporters at Tuesday's news conference that he can urge lawmakers to take steps to solve the nation's budget problems, but ultimately, they themselves are going to have to say they want to "do the right thing." He said Congress is not fixing spending and that lawmakers are choosing between "pain now and pain later." Guantanamo President Obama says the Guantanamo prison should be closed. Speaking to reporters at a White House news conference, he said, "Guantanamo is not necessary to keep America safe ... it hurts us in terms of our international standing.  It is a recrutment tool for extremists." He added, "The notion we are going to keep 100 individuals in perpetuity in no man's land ... is contrary to who we are and contrary to our interests." When asked about force feeding of hunger strikers at Guantanamo, he said, "I do not want these individuals to die."

FBI looking into relationship between McDonnells, donor - Washington Post Posted: 29 Apr 2013 06:41 PM PDT FBI agents are conducting interviews about the relationship between Virginia Gov. Robert F. McDonnell, his wife, Maureen, and a major campaign donor who paid for the food at the wedding of the governor's daughter, according to four people familiar with the questioning. The agents have been asking associates of the McDonnells about gifts provided to the family by Star Scientific chief executive Jonnie R. Williams Sr. and actions the Republican governor and his wife have taken that may have boosted the company, the people said. Among the topics being explored, they said, is the $15,000 catering bill that Williams paid for the 2011 wedding of McDonnell's daughter at Virginia's historic Executive Mansion. But questions have extended to other, previously undisclosed gifts from Williams to Maureen McDonnell as well, they said. The interviews, at which Virginia State Police investigators were present, began in recent months as an outgrowth of a federal investigation of securities transactions involving Star Scientific, which produces a dietary supplement called Anatabloc. The company disclosed that probe in a regulatory filing last month, saying it had received subpoenas from the U.S. attorney's office for the Eastern District of Virginia. Now, federal officials are trying to determine whether to expand that investigation into a broader look at whether McDonnell or his administration took any action to benefit Star Scientific in exchange for monetary or other benefits, according to the four people familiar with the interviews. It is unclear whether the probe will be broadened. U.S. Attorney Neil H. MacBride declined to comment, as did spokesmen for the FBI's Richmond division and the state police. Tucker Martin, a spokesman for McDonnell, a possible 2016 presidential contender, said, "It is the policy of the governor's office to not comment on any possible investigations." Jerry Kilgore, an attorney for Williams, also declined to comment. McDonnell previously has said that he and his wife have known Williams for about five years, that they consider him a personal friend and that the first family's efforts on behalf of Virginia-based Star Scientific are typical of what any governor would do to promote the state's businesses and products. But the FBI interviews represent a potential escalation of the growing controversy about McDonnell and his wife's relationship with Williams, which has consumed the state capital in recent weeks. Williams and Star Scientific have given McDonnell and his political action committee more than $120,000 in publicly disclosed campaign donations and gifts, while the McDonnell family has received other benefits, such as a vacation at Williams's lake house in western Virginia. The McDonnells have taken actions to promote Star Scientific, including allowing the company to hold a 2011 luncheon marking the launch of Anatabloc at the governor's mansion. The focus of the FBI interviews has been to determine whether any of those actions constituted a quid pro quo — McDonnell using his office to promote the company in return for anything of value for him or his family — people familiar with the questioning said.

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Business Times : latest Posted: http://www.btimes.com.my enTuesday, April 30, 2013, 08.16 AMhttp://www.btimes.com.my/articles/20130430101245/Article/ http://www.btimes.com.my/articles/20130430101245/Article/Tue, 30 Apr 2013 10:12:45 +0800The ringgit opened sharply higher against the US dollar spurred by higher buying interest as investor confidence in the country's economy grew higher, a dealer said. At 9.29am, the ringgit was quoted at 3.0295/0315 versus the greenback against yesterday's close of 3.0315/0345. The dealer said investors' focus was shifted towards the local note as the Malaysian economy was well on track to achieve 5-6 per cent growth this year. Meanwhile, the ringgit was traded mostly higher against other major currencies. The local note weakened against the Singapore dollar to 2.4560/4578 from 2.4557/4583 yesterday but rose against the euro to 3.9653/9688 from 3.9673/9719 on Monday. It rose sharply against the Japanese yen to 3.0888/0918 from Monday's 3.1006/1043 and appreciated against the British pound to 4.6912/6949 from 4.7046/7108 yesterday.-- Bernama http://www.btimes.com.my/articles/20130430101454/Article/ http://www.btimes.com.my/articles/20130430101454/Article/Tue, 30 Apr 2013 10:14:54 +0800Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia intervenes to mop up excess liquidity from the financial system. The central bank estimated today's liquidity at RM34.044 billion in the conventional system and RM8.705 billion in Islamic funds. Bank Negara will call for three Al-Wadiah tenders, namely RM2.05 billion for seven days, RM1.2 billion for 14 days and RM700 million for 28 days. The central bank will also conduct a RM9 billion range maturity auction programme for between two days and 92 days, as well as, a RM200 million Commodity Murabahah Programme each for 10 days and 36 days, respectively. At 4pm, Bank Negara will conduct up to RM25.1 billion in conventional overnight tender and a RM5 billion Al-Wadiah overnight tender.-- Bernama http://www.btimes.com.my/articles/20130430094208/Article/ http://www.btimes.com.my/articles/20130430094208/Article/Tue, 30 Apr 2013 09:42:08 +0800Bursa Malaysia opened easier this morning despite the positive overnight performance posted by Wall Street, dealers said. After six minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.3 points lower at 1,704.67, after opening 2.61 points higher at 1,710.58. Market breadth, however, was positive with 61 gainers, 41 losers and 105 counters unchanged, 1,402 counters untraded and 35 others were suspended. HwangDBS Vickers Research said Wall Street's barometers climbed between 0.7 per cent and 0.8 per cent as sentiment was boosted by better housing data and expectations that the Federal Open Market Committee would reaffirm their monetary stimulus measures when policymakers meet today and tomorrow. "The positive external vibes could pave the way for our local bourse to show an upward bias today. "On the chart, the key FBM KLCI may pull away from the psychological mark of 1,700 points, possibly advancing towards the resistance threshold of 1,720 points ahead," HwangDBS said in a note. On the score board, the Finance Index increased 1.73 points to 15,913.2, the Plantation Index rose 7.99 points to 8,064.57 but the Industrial Index fell 17.36 points to 2,828.38. The FBM Emas Index erased 15.51 points to 11,634.17, the FBMT100 lost 16.39 points to 11,475.29, and the FBM Ace Index slipped 5.17 points to 3,963.7. However, the FBM Mid 70 Index gained 5.92 points to 12,850.53. Turnover stood at 16.526 million shares worth RM23.958 million. Among actives, Kumpulan Hartanah Selangor rose 3.5 sen to 67 sen, SapuraKencana gained two sen to RM3.12, Pelikan added 1.5 sen to 53 sen while Censof was flat at 46.5 sen. Heavyweights, Maybank improved three sen to RM9.57. Both, Axiata Group and Petronas Chemicals shed one sen each to RM6.76 and RM6.48, respectively, CIMB Group slipped two sen to RM7.70 and Sime Darby eased four sen to RM9.40.-- Bernama http://www.btimes.com.my/articles/20130430101016/Article/ http://www.btimes.com.my/articles/20130430101016/Article/Tue, 30 Apr 2013 10:10:16 +0800NEW YORK: The SandP 500 index ended at an all-time high on Monday as growth-oriented stocks, including energy and technology, lead the way to the index's sixth rise in the past seven sessions. Stronger-than-expected housing data also boosted the market, as did Italy's formation of a new government, ending months of uncertainty and raising hopes for new policies to promote growth in the euro zone's third-largest economy. Pressure has grown on the European Central Bank to lower interest rates with the euro zone mired in recession. Money market traders are evenly split on whether the ECB will cut rates at its meeting on Thursday, according to a Reuters poll. Wall Street followed European stocks higher as Italian Prime Minister Enrico Letta urged a focus on growth policies and away from austerity measures in his inaugural speech. "After the election there was a lot of uncertainty about whether Italy could form a government, so now there is not only a great deal of relief over that, but also expectations for additional monetary policies from the ECB," said Alec Young, global equity strategist at SandP Equity Research in New York. The Dow Jones industrial average was up 106.20 points, or 0.72 per cent, at 14,818.75. The Standard and Poor's 500 Index was up 11.37 points, or 0.72 per cent, at 1,593.61. The Nasdaq Composite Index was up 27.76 points, or 0.85 per cent, at 3,307.02. The US Federal Reserve will also meet this week for a two-day session beginning on Tuesday. The Fed is expected to maintain its stimulus policy. Data on Monday showing muted inflation gave the Fed room for accommodative measures. Also lifting markets was Apple Inc, which jumped 3.1 per cent to US$430.12 after taking initial steps for what would be its first debt sale. Technology stocks rose 1.7 per cent, making the sector the best-performing on Monday. Among energy shares, Chevron Corp rose 1.1 per cent to US$121.32. A report showed contracts to buy previously owned homes rose last month to their highest level since April 2010, showing underlying strength in the housing market recovery, even though the pace of sales growth has cooled in recent months. The SandP 500 closed just barely above its previous record hit earlier this month of 1,593.37. "The market's trend continues to be higher, but it is still attractive at these valuations," said Young, who has a 12-month target of 1,670 for the SandP. About 71 per cent of New York Stock Exchange-listed companies closed higher while 65 per cent of companies traded on the Nasdaq ended in positive territory. Volume was light, with about 5.10 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.36 billion shares. Moody's Corp was the SandP 500's top percentage gainer, jumping 8.3 per cent to US$59.69 after the company settled a lawsuit alleging that it had misled investors about the safety of risky debt vehicles it had rated. McGraw-Hill Cos, whose Standard and Poor's unit said it settled similar suits, rose 2.8 per cent to US$53.45. Roper Industries Inc fell 3.8 per cent to US$118.68 after reporting first-quarter revenue that missed expectations, though it raised its full-year profit outlook. Of the 274 companies in the SandP 500 that have reported earnings to date for current season, 69 per cent have beat analysts' expectations and 43.2 per cent have reported revenue above expectations. The second half of the earnings season may not be as strong as the first one, data showed.-- Reuters

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Ricin suspect ordered held without bond - CNN Posted: 29 Apr 2013 09:02 AM PDT STORY HIGHLIGHTS NEW: More details of investigation could be unsealed as soon as today, officials say Magistrate orders James Everett Dutschke held without bond Dutschke is charged with possessing and using ricin as a weapon He is accused of sending letters containing ricin to President Barack Obama and others Oxford, Mississippi (CNN) -- The Mississippi man accused of making a potent toxin found in letters mailed to President Barack Obama and other officials will be held without bond pending a preliminary hearing later this week, a federal magistrate ruled Monday. Federal authorities arrested James Everett Dutschke, 41, Saturday on charges of possessing and using ricin after initially charging -- and then clearing -- another man with whom Dutschke has sometimes feuded. Wearing an orange jumpsuit, his hands and feet shackled as he entered the room, Dutschke told Magistrate S. Allan Alexander that he understood what he had been charged with. His attorney, George Lucas, told Alexander that they had not yet had time to go through the complaint. Alexander agreed to order Dutschke held without bond on the grounds that he could be a danger to the community or could try to run. She set his preliminary hearing for Thursday. Both Lucas and Assistant U.S. Attorney Chad Lamar declined to comment after the hearing. While the snappy eight-minute hearing produced no new details, the public could learn more about the accusations when the criminal affidavit in support of the complaint is unsealed. That could happen as early as Monday, according to the court clerk and a U.S. attorney. Dutschke's arrest was the latest head-scratching twist in what could be a tale of small-town intrigue that blew up to become international news. The letters -- sent to Obama, Wicker and Holland -- arrived April 16 and touched off anxieties in Washington and elsewhere in the wake of the bombing of the Boston Marathon. The two incidents were unconnected, officials said. Before police settled on Dutschke as a suspect, they took into custody a Corinth, Mississippi, man named Paul Kevin Curtis, who makes his living impersonating Elvis, Buddy Holly and Randy Travis. Curtis vehemently denied sending the letters, said he was framed and identified Dutschke as a potential culprit. What is ricin? The ties that bind Dutschke used to work for Curtis' brother at an insurance company, under the direction of Curtis' ex-wife. Curtis has said that while Dutschke worked for his brother, the two talked about collaborating on the publication of a book but later had a falling out. He has accused Dutschke of stalking him online, a claim the latter has denied. In an April 22 court hearing before the charges were dropped, Curtis said he was being framed and identified Dutschke as a potential culprit. Dutschke told reporters last week that he did not know Curtis well. "He's just a little nutty," he said. "I don't have a relationship with him." The ties that bind II So where do the lawmakers fit in? Dutschke can be linked to Sadie Holland through her son, Democratic state representative Steve Holland. Dutschke failed in a bid as a Republican to unseat the younger Holland. As for Curtis, Sadie Holland presided over a 2004 assault hearing involving Curtis, who says he has been in jail "over 20 times," but never convicted. And Sen. Roger Wicker? Dutschke said he once met Wicker. Suspect No. 1 The letters read, in part: "To see a wrong and not expose it, is to become a silent partner to its continuance." They were signed "I am KC and I approve this message," a source told CNN. Each letter had a Memphis, Tennessee, postmark and no return address. The very next day, authorities arrested Curtis. His attorney, Christi McCoy, said he'd been framed by someone who used several phrases Curtis likes to use on social media. The FBI said the letters tested positive for ricin, a toxin derived from castor beans that has no known antidote. The very next week, authorities dropped the charges against Curtis after they said they had new information. "I think now, how many people are thrown in jail because of circumstantial evidence and someone can frame you that easily," he told CNN last week after being cleared. Suspect No. 2 The feds then turned their attention to Dutschke. Agents searched his residence and former martial arts studio. Dutschke told CNN affiliate WMC-TV that he agreed to the FBI search "to help clear my name." "I had absolutely nothing to do with those letters," he said. Early Saturday, he was arrested without incident at home. He was charged with possession and use of a biological agent as a weapon in connection with the letters. More trouble This isn't his only brush with the law. Dutschke faces molestation charges in an unrelated case. According to a grand jury indictment handed up this month and obtained by CNN, Dutschke is accused of molesting three girls under the age of 16. He has repeatedly denied the charges in interviews with local media and pleaded not guilty in court this month. Dutschke closed his tae kwon do studio after the allegations were made public. Dutschke was previously convicted on indecent exposure charges in another case and sentenced to 90 days in jail. A song in his heart As for Curtis, he told CNN he's "just glad it's over." When he learned Dutschke had been arrested, he took a deep breath and felt like "a weight had been taken off." "I just want to return to my kids and my music," Curtis said. During another interview with CNN last week, he said the public attention could "thrust him into the limelight." And then, at the urging of reporter Chris Cuomo, he burst into song. A rousing rendition of Randy Travis' "On the Other Hand." CNN's Vivian Kuo reported from Oxford, Mississippi; Rich Phillips and Alina Machado from Booneville, Mississippi. Ed Payne wrote from Atlanta. CNN's Chelsea J. Carter and Dana Ford contributed to this report. 0 Comments » SHARE THIS Print Email More sharing

Student shoots himself in Ohio classroom, police say - CBS News Posted: 29 Apr 2013 09:17 AM PDT CINCINNATI A student at an all-male parochial high school pulled out a gun in a classroom Monday morning and shot himself in an apparent suicide attempt, police said. The youth was taken to a hospital, and there appeared to be no threat to other students at La Salle High School, a private school west of Cincinnati that was immediately put on lockdown as a precaution, police said. At around 8 a.m., "a student produced a gun inside one of the classrooms and shot himself, and we're dealing with that now," Green Township Police Chief Bart West told reporters. School officials said the shooting was during the first class period of the day. West said the student apparently was trying to kill himself, but he had no other information on why he fired the shot. He said authorities weren't aware of any threats made concerning the school or any other students. Authorities said all other students were safe. Students, some in tears, gathered in the school gym, and school officials said they were organizing an orderly dismissal as parents came to pick them up. A school official said counselors were meeting with students, and officials were talking to students to try to learn more about the student who fired the shot. "We just ask that you pray for him and his family," said Greg Tankersley, La Salle's director of community development. "It's a tragic situation for this young man." He said the youth was "fighting for his life." A message was left at the University of Cincinnati Medical Center about the student's condition. Dispatchers told CBS affiliate WKRC that a number of students at the school called 911 to report the shooting. One of the students who called 911 told dispatchers that the shooting happened in a third-floor classroom. The Roman Catholic Archdiocese sent additional counselors to the school, he said, and a priest went to the hospital where the student was taken. Tankersley said he wouldn't release other information about the student at this point. In the aftermath of last year's fatal shootings of three students in Chardon High School in northeast Ohio and December's Sandy Hook Elementary shooting rampage in Connecticut, most schools have taken steps to increase security. In Ohio, that's included taking shooting prevention and response training courses offered by the state attorney general and updating safety procedures with police. "We always have concerns about school security," West said, but he added that La Salle "did an excellent job" in responding Monday. He said township police had met recently with school officials to review their safety plan. "We're going to go back and look at everything," Tankersley replied when asked about a gun getting into the school. But he added that Monday's top priority was the condition of the wounded student and the well-being of the others. Police are on the scene after a La Salle High School student reportedly shot himself in front of a classroom of students. / WKRC

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