Subject: This Morning's Headlines: High prices dent global oil demand, Commodity afters...
From: "Financial Times Briefing" <[email-masked]>
To: <[email-masked]>
Date: Thu, 12 May 2011 08:02:38 -0400

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ft.com/briefings 
FINANCIAL TIMES - Morning headlines
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/EWZXGK/E4/t?a=2011&b=5&c=12

Thursday May 12 2011 

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Financial Times - US homepage
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High prices dent global oil demand
Global oil demand was flat in March for the first time since 2009 as high prices ‘dent’ consumption, particularly in North America, the International Energy Agency says 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/M9DS2I/E4/t?a1=2011&a2=5&a3=12

Commodity aftershock cracks investor optimism
The commodity aftershock ripples through markets as fears rise that previously high raw material costs and the monetary response to contain them signal an end to once profitable ‘long risk’ strategies 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/ZBUGEX/E4/t?a1=2011&a2=5&a3=12

Google aims at Microsoft with Chromebooks
Notebook computers running the Chrome OS software instead of Windows will go on sale in June, giving users access to applications running on the web rather than on the computer itself 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/BMV5T5/E4/t?a1=2011&a2=5&a3=12

Cisco issues warning on profit and sales
The networking gear maker says revenue this quarter will be flat to 2% higher from a year earlier. It will set aside $1.1bn next quarter to cover job cuts amid a reorganisation 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/8AOZU2/E4/t?a1=2011&a2=5&a3=12

Businesses step into US debt limit battle
Corporate America stepped into the political battle over the US debt limit, pleading for lawmakers to raise the country’s borrowing authority in a “timely fashion” to avoid damaging the economy 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/5CGVFH/E4/t?a1=2011&a2=5&a3=12

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Financial Times - Financial markets news
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Resource stocks take toll on FTSE 100
Miners and oil companies suffer following a second wave of heavy selling on commodities markets in a week, adding to the pressure on stocks in London 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/EWZXBH/E4/t?a1=2011&a2=5&a3=12

Signs of spring in China’s copper market
A number of indicators suggest the lacklustre state of the Chinese market is becoming a thing of the past. 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/YHPBIJ/E4/t?a1=2011&a2=5&a3=12

Greece and Portugal should both go gracefully
Even restructuring Greek and Portuguese debt will not guarantee their staying in the eurozone, writes Simon Tilford 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/XT3HYQ/E4/t?a1=2011&a2=5&a3=12

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Financial Times - World
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Obama defence cuts under fire
While the US president wants to slash $400bn from defence spending over a dozen years, the House of Representatives is balking at much smaller cuts planned for the shorter term 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/A7CM18/E4/t?a1=2011&a2=5&a3=12

City fortunes in flux as exchanges merge
As a wave of deals sweeps the globe, a tense game is being played by exchanges as they seek to assure political leaders in Europe’s financial centres they will not lose out 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/PREF7W/E4/t?a1=2011&a2=5&a3=12

Clean-up begins after deadly Spanish quakes
Hundreds of residents of Lorca in south-east Spain sought safety in the open air overnight after an unusually strong earthquake that killed eight people 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/NSYJAY/E4/t?a1=2011&a2=5&a3=12

Gingrich to take on Obama in 2012 battle
The former US House speaker who spearheaded the Republican revolution in the 1990s joins the list of conservatives seeking the nomination of the party for the election 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/40BCRS/E4/t?a1=2011&a2=5&a3=12

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FT.com - US
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Bin Laden diary said to reveal terror plots role 
Osama bin Laden's journal and other documents recovered in last week's raid have shown that he remained the driving force behind many terror plots, US officials say 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/3OH0JE/E4/t?a1=2011&a2=5&a3=12

Businesses step into US debt limit battle
Corporate America stepped into the political battle over the US debt limit, pleading for lawmakers to raise the country's borrowing authority in a "timely fashion" to avoid damaging the economy 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/XT3HYR/E4/t?a1=2011&a2=5&a3=12

US tax holiday proposed for foreign profits
Lawmakers say the measure, which will allow companies to pay only 5.25% tax for repatriated profits, will wrench back $1,000bn in corporate funds stored internationally 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/WLNTDD/E4/t?a1=2011&a2=5&a3=12

Critics try to stifle shale gas revolution
Advocates see gas as a preferable alternative to coal for power generation, but opponents worry about contamination of water supplies from the chemicals used in fracking fluids 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/PREF7I/E4/t?a1=2011&a2=5&a3=12

Gingrich to take on Obama in 2012 battle
The former US House speaker who spearheaded the Republican revolution in the 1990s joins the list of conservatives seeking the nomination of the party for the election 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/IY4IOG/E4/t?a1=2011&a2=5&a3=12

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FT.com - Companies US & Canada
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Moynihan upbeat at BofA annual meeting
Brian Moynihan lays out his case to shareholders that the biggest US lender has become 'a much stronger company' in spite of uncertainty over troubled mortgage division 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/726A3P/E4/t?a1=2011&a2=5&a3=12

Telecoms heads defend planned $39bn tie-up
AT&T and T-Mobile USA argue for their merger before a Senate subcommittee in the face of stiff opposition from smaller carriers fearful of what they call a new 'duopoly' 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/40BCRN/E4/t?a1=2011&a2=5&a3=12

Lawyers see green light in verdict for wiretaps
Wiretaps are likely to be used more widely in insider-trading probes following their critical role in the prosecution of Raj Rajaratnam, lawyers say. 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/5CGVF8/E4/t?a1=2011&a2=5&a3=12

Cisco issues warning on profit and sales
The networking gear maker says revenue this quarter will be flat to 2% higher from a year earlier. It will set aside $1.1bn next quarter to cover job cuts amid a reorganisation 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/TPJUWN/E4/t?a1=2011&a2=5&a3=12

Google aims at Microsoft with Chromebooks
Notebook computers running the Chrome OS software instead of Windows will go on sale in June, giving users access to applications running on the web rather than on the computer itself 
Read more >> 
http://link.ft.com/r/6NPSBB/7205J8/AALPR/TP9S0Z/726AP2/E4/t?a1=2011&a2=5&a3=12

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(c)THE FINANCIAL TIMES LTD 2011

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