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FBI investigates media leaks in Yemen underwear bomb plot

FBI director Robert S. Mueller III today disclosed that the FBI is investigating leaks to the news media about the recently disrupted plot by Al Qaeda's Yemen affiliate to smuggle a bomb designed to be concealed in underwear onto a U.S. bound jet. The plans...

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Robert F. Kennedy Jr.\'s estranged wife found dead

An attorney says Robert F. Kennedy Jr.'s estranged wife has been found dead in New York.

Kerry Lawrence says Mary Kennedy died on Wednesday. He says he doesn't know the cause of her death.

Police confirm a body was found on Robert F. Kennedy Jr.'s property in Bedford, north of New York City.

Lawrence had represented Mary Kennedy in a drunken-driving case.

Robert Kennedy Jr. is a prominent environmental lawyer. He's the son of Sen. Robert F. Kennedy and nephew of President John F. Kennedy, both assassinated in the 1960s. Mary Kennedy was his second wife. They had four children.



Article from FOXNEWS


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President Obama tops Republican Mitt Romney in a head-to-head matchup, according to the latest Fox News poll, which finds American voters feeling more positive about the economy.

Obama would have an advantage of 46 percent to 39 percent over Romney, if the election were held today. Three weeks ago the candidates were tied at 46 percent each.

The national poll, released Wednesday, shows the president's lead is just outside the poll's margin of sampling error.

Click for the full poll results

About a third of voters say they are “extremely” interested in the election. Among just that group, Romney tops Obama by 50 percent to 44 percent.

Overall, each candidate's party support is strong: Most Democrats back Obama (88 percent) and most Republicans support Romney (84 percent).

Among independents, 34 percent back Romney, 29 percent support Obama and more than a third are undecided or say they won't vote (36 percent). Last month, independents broke for Romney by 46 percent to 33 percent.

The gender gap is alive and well, as women continue to be more likely to back Obama (55 percent to 33 percent), while men are more inclined to support Romney (46 to 37 percent).

In general, a 60-percent majority is satisfied with their candidate choices. One voter in three disagrees and thinks “none of the above” should be an option on the November ballot.

Obama voters (74 percent) are much more likely than Romney voters (59 percent) to say they are satisfied with the candidate choices.

Each candidate's backers were asked to say in their own words the main reason they were supporting him. For Obama, the top responses are, he's doing a good job (25 percent), his issue positions (13 percent) and he's a Democrat (11 percent).

Another 11 percent say, “he's not Romney.” Nearly four times as many Romney backers say “he's not Obama” is their top reason (43 percent).

Others are supporting Romney because he's a Republican (14 percent), his issue positions (10 percent) and the economy (8 percent).

Romney supporters are as likely to cite his business background as the issue of same-sex marriage as the main reason for their vote (5 percent each).

Currently 49 percent of voters approve and 47 percent disapprove of Obama's job performance. That's up from 45 percent approval and 51 percent disapproval three weeks ago. In addition, this is his highest approval rating since May 2011, after the raid that killed Usama bin Laden, when some 55 percent approved and 41 percent disapproved.

To Obama's advantage, voters feel the economy is improving. The number saying the economy is in “poor” condition has dropped 14 percentage points from a year ago. And while few voters, 11 percent, rate the economy positively -- that's the highest number since April 2009.

Meanwhile, even though more voters continue to say the economy is in worse shape today compared to four years ago, the number saying it's in better shape is up 11 points (from 17 percent last May to 28 percent today).

The same shift is seen when voters are asked about jobs. Compared to four years ago, 24 percent think the job situation in their area is better today, 41 percent say worse and 32 percent say it's unchanged. A year ago, 13 percent said the job situation was better, 57 percent said worse and 29 percent unchanged (May 2011).

On their family's financial situation, voters are more likely to say they are worse off as opposed to better off today compared to four years ago by an 8-percentage-point margin (23 percent better, 31 percent worse). That's down from a 17-point margin last year (19 percent better, 36 percent worse).

Obama's best marks are on his handling of Afghanistan: 53 percent approve. His lowest approval is 36 percent for handling the federal deficit. Forty-three percent approve of the job Obama's doing on the economy, up from 39 percent a year ago.

What's the “best thing” Obama has done to help the economy? Fifteen percent say he slowed or stopped job loss and the recession, 8 percent cite loans to the auto industry and 7 percent point to the stimulus. The most common response was Obama did “nothing” to help (43 percent).

By a 13-percentage-point margin, voters would pick Romney over Obama to manage their personal money (47 percent to 34 percent). The former governor also comes out on top as the better business partner (48 to 39 percent). Voters think Romney would do a better job creating jobs by a slim 2-point margin (43 to 41 percent).

If hiring a life coach, Obama is the preferred choice by a wide margin, 47 percent to 33 percent. In addition, voters prefer Obama to pick the next Supreme Court justice (46 to 38 percent).

Would Romney have made the same decision Obama made to get Al Qaeda leader Usama bin Laden? By a wide margin of 62 to 24 percent, voters say yes, if Romney were president a year ago, he would have given the order to get bin Laden.

Finally, if Obama were re-elected, 45 percent of voters say they would feel the “country's improving” and would “look forward” to another four years, while a roughly equal number (43 percent) say they would feel the country is “going down the drain” and would “dread” a second Obama term.

The Fox News poll is based on landline and cell phone interviews with 913 randomly-chosen registered voters nationwide and is conducted under the joint direction of Anderson Robbins Research (D) and Shaw & Company Research (R) from May 13 to May 15. For the total sample, it has a margin of sampling error of plus or minus three percentage points.



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Kucinich opts out of Wash. state race, will retire

FILE - In this March 17, 2010 file photo, Rep. Dennis Kucinich, D-Ohio, speaks during a news conference on Capitol Hill in Washington. Kucinich says he will run for re-election in a newly redrawn district across northern Ohio, setting up a possible primary fight with fellow Democratic incumbent Marcy Kaptur of Toledo. (AP Photo/Harry Hamburg, File)Ohio Rep. Dennis Kucinich announced Wednesday he has decided against running for Congress in Washington state, where activists had urged him to launch a campaign. In a statement, Kucinich signaled the end of his 16-year congressional career: Because of my love of public service, I have given a great deal of time and much thought [...]




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2 Navy ships collide off Southern California\'s coast

The U.S. Navy says an amphibious assault ship and a replenishment tanker collided in the Pacific Ocean but there were no injuries and no fuel spills.

A Third Fleet public affairs statement says the collision between the assault ship USS Essex and the oiler USNS Yukon occurred at midmorning Wednesday approximately 120 miles off Southern California.

The Navy says an apparent steering malfunction occurred as Essex approached the Yukon for replenishment while under way.

Neither ships' fuel tanks or systems were compromised, but the Navy says a full assessment of any damage is continuing.

The Essex is due to return to San Diego on Thursday after 12 years based in Sasebo, Japan.



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Jury convicts Steve Powell of voyeurism charges

A jury has convicted Steve Powell of voyeurism charges that stemmed from an investigation into his missing daughter-in-law.

Jurors returned their verdict Wednesday, finding him guilty on all 14 counts.

Powell looked off into a corner of the courtroom as the verdict was read. Anne Bremner, an attorney who represents Susan Powell's family, smiled.

Authorities brought the voyeurism charges last year after searching Steve Powell's home during their investigation into the disappearance of Susan Powell of Utah. Prosecutors claim images used as a basis for the charges were found on a disc in his bedroom.

Prosecutors have said Susan Powell was the subject of many of Steve Powell's photos, but those images were not part of the case. Instead, prosecutors focused on images of two young girls who lived next door to Steve Powell.

Susan Powell's family believes Steve Powell has information on her disappearance, and authorities say he has been uncooperative in the investigation. Susan Powell's husband, Josh, killed himself and the couple's two young children earlier this year.

During closing arguments Tuesday, Pierce County prosecutor Grant Blinn methodically showed photos of the young girls to the jury while saying that Powell captured the images from his bedroom window.

"He was sitting there, lurking in the shadows, leering at the girls," Blinn said.

Authorities say the files show the young girls in a bathroom as they bathed and used the toilet. The girls, identified in court only by their initials,urking in the shadows, leering at the girls," Blinn said.

Authorities say the files show the young girls in a bathroom as they bathed and used the toilet.

The girls, identified in court only by their initials, were about 8 and 10 when the images were captured. They testified they had no idea someone had taken photos of them in the bathroom.

Defense attorney Travis Currie argued there were too many uncertainties in the evidence to convict.

He questioned whether Steve Powell was the one who actually captured the images, noting others lived in the home. He also wondered whether the images were used for sexual gratification.

"There are people who are nosy, who like to spy on their neighbors," Currie said.

When talking about the burden of "reasonable doubt," Currie reached as high as he could into the air, towering over the jury to emphasize how high of a bar that standard is.



Article from FOXNEWS


Jury convicts Steve Powell of voyeurism charges

A jury has convicted Steve Powell of voyeurism charges that stemmed from an investigation into his missing daughter-in-law.

Jurors returned their verdict Wednesday, finding him guilty on all 14 counts.

Powell looked off into a corner of the courtroom as the verdict was read. Anne Bremner, an attorney who represents Susan Powell's family, smiled.

Authorities brought the voyeurism charges last year after searching Steve Powell's home during their investigation into the disappearance of Susan Powell of Utah. Prosecutors claim images used as a basis for the charges were found on a disc in his bedroom.

Prosecutors have said Susan Powell was the subject of many of Steve Powell's photos, but those images were not part of the case. Instead, prosecutors focused on images of two young girls who lived next door to Steve Powell.

Susan Powell's family believes Steve Powell has information on her disappearance, and authorities say he has been uncooperative in the investigation. Susan Powell's husband, Josh, killed himself and the couple's two young children earlier this year.

During closing arguments Tuesday, Pierce County prosecutor Grant Blinn methodically showed photos of the young girls to the jury while saying that Powell captured the images from his bedroom window.

"He was sitting there, lurking in the shadows, leering at the girls," Blinn said.

Authorities say the files show the young girls in a bathroom as they bathed and used the toilet. The girls, identified in court only by their initials,urking in the shadows, leering at the girls," Blinn said.

Authorities say the files show the young girls in a bathroom as they bathed and used the toilet.

The girls, identified in court only by their initials, were about 8 and 10 when the images were captured. They testified they had no idea someone had taken photos of them in the bathroom.

Defense attorney Travis Currie argued there were too many uncertainties in the evidence to convict.

He questioned whether Steve Powell was the one who actually captured the images, noting others lived in the home. He also wondered whether the images were used for sexual gratification.

"There are people who are nosy, who like to spy on their neighbors," Currie said.

When talking about the burden of "reasonable doubt," Currie reached as high as he could into the air, towering over the jury to emphasize how high of a bar that standard is.



Article from FOXNEWS


Murdered bride\'s sister says groom made phone call revealing \'bad fight\'

  • Estrella2.jpg

    FILE: This photo shows Estrella Carrera.MyFoxChicago

  • Bride Dead 1.jpg

    May 15: This undated photo released by Burbank Police department shows Arnoldo Jiménez. (AP Photo/Burbank Police Department)

  • Bride Dead 2.jpg

    A southwest suburban Burbank apartment building at 7858 Rutherford is seen in a Tuesday, May 15, 2012 photo. Newly-married Estrella Carrera, 25, was found stabbed to death in her wedding dress on Sunday, May 13, 2012. Burbank police released a statement Monday calling the slaying "a domestic situation." The statement does not mention the name or whereabouts of the woman's husband. (AP Photo/Southtown Star, Larry Ruehl)CHICAGO LOCALS OUT© SouthtownStar/Sun-Times Media

The sister of a bride found stabbed to death in her wedding party dress claims the groom called a relative on the day the body was found and said he left her bleeding after a "bad fight."

Estrella Carrera, 26, of Burbank, Ill., was found fatally stabbed on Sunday in her bathtub, clad in the silver sequin cocktail dress she wore at her wedding reception and possibly at the wedding itself. 

Police are now hunting for the woman's husband, 30-year-old Arnoldo Jimenez, who is wanted on a first-degree murder warrant in Carrera's death. 

Carrera's sister, Jazmin, said a sister of Jimenez' told the victim's family about the alleged phone call on Sunday. She claims that Jimenez was crying and nervous during the call. 

The Burbank Police Department said Wednesday that it is aware of a relative's account of the phone call from Jimenez and that it is part of their investigation. 

"It was a very brutal killing," Capt. Joseph Ford of the Burbank Police Department told The Associated Press on Tuesday. "We do our jobs every day, of course. But something like this really motivates you to work even harder."

After the couple were married Friday afternoon at Chicago's City Hall, they had dinner with friends at a restaurant, then headed to a nightclub in a party limousine. They were last seen at 4 a.m. Saturday, and Carrera's body was found Sunday in her apartment in Burbank, a suburb of Chicago. 

The 6-foot, 220-pound Jimenez was last known to be driving a 2006 black Maserati. Since the killing likely took place just hours after the couple went to the bride's Burbank apartment, the suspect had a day to leave the metropolitan area or even the state, Ford said.

Carrera, a mother of two small children, told nearly no one about her plans to get married, inviting a few friends out Friday without telling them what she was celebrating, her relatives said. Her body was found after family members became worried they had not heard from her and called police.

Some of those familiar with the couple said there had been incidents of violence during their two years dating, Ford said. But he added that authorities haven't yet found any records indicating Carrera ever filed a complaint against Jimenez.

"And we have no indications the two were arguing at any time during the (Friday and early Saturday) celebration," Ford said.

Carrera's family and acquaintances were struggling to comprehend how such a tragedy could happen during what should have been among the happiest days of the couple's lives.

The Associated Press contributed to this report. 



Article from FOXNEWS


Best Energy Bars

  • Energy bar

Somewhere between sawdusty protein bars and sugar-packed impostors lies a healthy afternoon snack that actually tastes good.

Best Chewy Energy Bar

Winner

Gnu Foods Flavor & Fiber Cinnamon Raisin
Delicious, raved testers. "Like an oatmeal cookie," one said.
Dietitian's verdict: This snack is rich in fiber, which helps you feel full and curbs your appetite. (Contains 130 calories, four grams of protein, and 12 grams of fiber.)

Runner-Up

Clif Bar Chocolate Chip
Definitely tasty, but almost too chewy.

_______________________________________________

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_______________________________________________

Best Chocolaty Energy Bar

Winner

Lärabar Jocalat Chocolate
Many loved this bar's rich flavor and "sophisticated taste."
Dietitian's verdict: The nuts pack in heart-healthy mono- and polyunsaturated fats. (Contains 190 calories, five grams of protein, and five grams of fiber.)

Runner-Up

Luna Bar S'mores
Nice and crunchy, but not for chocoholics.

Best Crunchy Energy Bar

Winner

Powerbar Nut Naturals Fruit & Nuts
A "just right" mix of almonds, peanuts, and strawberries.
Dietitian's verdict: The carbohydrates (20 grams) and protein help build muscle. (Contains 210 calories, 10 grams of protein, and three grams of fiber.)

Runner-Up

Clif Mojo Honey Roasted Peanut
All nuts, no fruit.

Best Fruity Energy Bar

Winner

Lärabar Cherry Pie
"Mouth-puckering, but in a good way," declared one tester.
Dietitian's verdict: Each bar is the equivalent of one serving of fruit. (Contains 190 calories, four grams of protein, and four grams of fiber.)

Runner-Up

Renew Life Organic Fiber Cranberry Craze
A little sticky, though refreshing.



Article from FOXNEWS


Skechers to pay $40 million over toning shoe claims

Skechers advertised that its toning shoes would help people lose weight, build muscle and get in shape, claims that will now cost the company $40 million in a settlement with U.S. regulators.

The Federal Trade Commission announced today that the company has agreed to the settlement on charges that it "deceived consumers by making unfounded claims" about its Shape-ups, Resistance Runner, Toners and Tone-ups lines of shoes. Consumers who bought the shoes are entitled to refunds.

Did you buy Skechers toning shoes? Click here to apply for a refund.

"Skechers' unfounded claims went beyond stronger and more toned muscles. The company even made claims about weight loss and cardiovascular health," David Vladeck, director of the FTC's Bureau of Consumer Protection, said in a statement. "The FTC's message, for Skechers and other national advertisers, is to shape up your substantiation or tone down your claims."

The FTC also alleges that Skechers manipulated and "cherry-picked results" from studies to support their claims. In one case, the FTC says Skechers touted the endorsement of chiropractor Dr. Steven Gautreau, but did not disclose that Gautreau was married to a Skechers marketng executive and that Skechers paid him to conduct the study, which the FTC alleges did not support the claims in the ad.

Skechers denies its ads were unsupported and says it "believes its advertising was appropriate."

"While we vigorously deny the allegations made in these legal proceedings and looked forward to vindicating these claims in court, Skechers could not ignore the exorbitant cost and endless distraction of several years spent defending multiple lawsuits in multiple courts across the country," David Weinberg, Skechers' chief financial officer, said in a statement.

The Skechers' settlement comes less than a year after Reebok agreed to pay $25 million to settle charges it misled consumers with false claims about EasyTone walking shoes and RunTone running shoes.

The FTC's settlement with Skechers is part of a broader agreement that resolves an investigation that included the attorney generals from 44 states. Under the settlement Skechers is not allowed to make any claims about its toning shoes involving health or fitness benefits unless they are backed by scientific evidence.

"Hopefully, at least here stateside, this will make big companies think twice before they make these specious advertising claims," Chris Morran, deputy editor at Consumerist.com, told ABC News. "The hurt isn't the $40 million penalty, it's the millions Skechers won't be making selling toning shoes. ... The sneakers are going overnight from miracle weaight loss, muscle toning shoes to sneakers and that's the bigger hurt."

Skechers' has also been sued by consumers alleging that Shape-ups can cause serious injuries, including stress fractures.

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China\'s Wind-Powered Car

  • windcar660.jpg

    Sky News

BANJIEHE, China -- A Chinese farmer has invented a wind-powered, electric car that he says could save his country from the pollution caused by its rapidly growing car market.

An hour from downtown Beijing, the dusty village of Banjiehe looks an unlikely place to produce scientific innovation. Its rows of brick, utilitarian houses are surrounded by cornfields and fruit trees.

But in a small tractor workshop, 55-year-old farmer Tang Zhenping has invented the prototype of a car that he believes could revolutionize China's auto industry.

Tang's model -- built in just three months for around US$1,600 -- is electric.

Its engine uses scrap parts from a motorcycle and electric scooter. Its steering wheel, upholstery and headlights all come from a Chinese-made Xiali hatchback.

But what makes the one-seater special is the turbine on its nose.

When the car reaches 40mph (64kph), the blades spring into action and begin generating pollution-free power.

"It works just like a windmill," said Tang, who claims the turbine gives his vehicle three times the battery life of other electric cars.

The model has a top speed of 70mph (113kph).

The farmer says he dreamed of building an electric car for three decades, but was unable to interest government officials or private investors. He now hopes car manufacturers will take an interest in his prototype.

Click here for video of Tang's car in action

"I'm not doing this just for the money," he told Sky News. "I dream of seeing my car being driven on highways. I want to serve the people."

In 2009 China overtook the US as the world's biggest auto market. An estimated 40,000 new cars take to the country's roads every day, and some predict China could have a billion passenger vehicles by the middle of this century.

The environmental results are disastrous.

A 2010 Chinese government report said an increase in acid rain, haze and photochemical smog was caused by growth in vehicle emissions.

The government has promised to put five million electric and hybrid cars on the road by 2020, and is heavily subsidizing the development of cleaner vehicles.

But sales so far have been disappointing -- only 8,000 were sold last year.



Article from FOXNEWS


McCain adviser who vetted Palin weighs in on VP process

By Chris Moody | The Ticket â€" 

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Skechers will pay $40M for false shoe ads

SKECHERS Announces Their Partnership With Kim Kardashian And Kris JennerClaims that Skechers' fitness shoes can help shed pounds and tone muscles are sketchy at best, says the government - and they're going to cost the company millions of dollars.




Article from YAHOO NEWS


Finding God -- or maybe just comfort -- in candy

By Mira Oberman | AFP â€" 

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Christie, Newark Mayor Booker star in video parody

New Jersey Gov. Chris Christie and the mayor of New Jersey's largest city are channeling the Seinfeld-Newman rivalry in a video parody that spoofs the mayor's heroics and Christie's vice presidential potential. 

The Republican governor finds himself thwarted at do-gooding by Newark Mayor Cory Booker. The Democrat rescued a neighbor from a fire last month. 

Booker tells Christie "I got this" as he fixes the governor's flat tire, helps Bruce Springsteen replace a missing guitar and Tebows after catching a baby dropped from a state Capitol balcony before Christie's eyes. 

Each time, Christie grits his teeth and says "Booker!" 

Booker is then shown on a phone telling Mitt Romney he wouldn't make a good running mate. Christie grabs the receiver, saying: "Excuse me mayor, I got this." 

The video played at Tuesday's New Jersey Press Association's Legislative Correspondents Club show. 

Click here to watch the video. 



Article from FOXNEWS


Pentagon restricts F-22 flights over safety concerns

By ROBERT BURNS | Associated Press â€" 

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Defense mum on whether John Edwards will testify

John Edwards, right, and his daughter Cate Edwards enter the federal courthouse for John EdwardsThe John Edwards corruption trial appears to be winding down without testimony, so far, from the former presidential candidate or his one-time mistress.




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15 people claim they left $14G at Goodwill store

Someone's lying.

The search for the rightful owner of $14,505 mistakenly left a St. Louis Goodwill store has hit a snag, with up to 15 potential owners making a claim to the money.

The large stack of cash that was found inside a box of Christmas donations that were dropped off at a Goodwill store on Baptist Church Road in St. Louis County, Fox2Now.com reports.

Store manager Tina Wells said she found the money last week. Using video surveillance, Goodwill staffers were able to trace the money to a load of donations from two men driving a white trailer being pulled by a green Ford truck on May 8.

MERS Goodwill CEO Lewis Chartock said his agency believes two of the claims seem to be legitimate, but that the matter will likely be turned over to St. Louis County court officials to make that decision.

Click for more from Fox2Now.com.



Article from FOXNEWS


Homeless man reportedly stabs man for viewing porn

A homeless man reportedly stabbed another man in a New York City library because he was viewing pornography, fire and police sources said.

The 56-year-old attacker was with his wife on the second floor of the Brooklyn Heights Branch of the Brooklyn Public Library when he spotted the video on the screen of a computer operated by a 52-year-old man Tuesday evening, sources told the New York Daily News.

“He was with his wife and he accused the other guy of looking at porn,” one police source said. “The guy looking at porn picked up a chair and hits him. The guy who was offended said, ‘I have a knife,' and stabs him in the chest.”

The victim, who remained conscious, was taken to Bellevue Hospital and is expected to survive the attack. Charges against the alleged stabber were pending late Tuesday, police told the newspaper.

Click for more from NYDailyNews.com.



Article from FOXNEWS


Syria attack kills 21 as rebels protect U.N. monitors

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Facebook raises IPO size by 25 percent

Facebook Inc increased the size of its initial public offering by almost 25 percent, and could raise as much as $16 billion as strong investor demand for a share of the No.1 social network trumps debate about its long-term potential to make money.

Facebook, founded eight years ago by Mark Zuckerberg in a Harvard dorm room, said on Wednesday it will add about 84 million shares to its IPO, floating about 421 million shares in an offering expected to be priced on Thursday.

Early investors, including PayPal co-founder Peter Thiel, Accel Partners' James Breyer and investment manager Tiger Global Management will also sell more shares, the company said in a filing.

The expanded size, coupled with Facebook's recently announced plans to raise the IPO price range, would make Facebook the third-largest initial share sale in U.S. history after Visa Inc and General Motors.

The social networking company is drumming up massive demand for the offering even as slowing revenue and user growth spur questions about the long-term Facebook story.

Those concerns over revenue growth were underscored on Tuesday, when GM said it planned to pull out of advertising on Facebook.

"This is much more a spectacle, a media event and a cultural moment than it is an IPO," said Max Wolff, an analyst at GreenCrest Capital. "This is not a game of models and fundamentals at this point."

GM's announcement, while ill-timed for Facebook, should not seriously hurt the IPO's reception for now as it may not be representative of advertisers' overall attitude, said Brian Wieser, an analyst with Pivotal Research Group.

"The demand for the IPO probably won't be affected materially by this," he said, adding, however, there were probably a lot of calls between underwriters and investors following GM's announcement.

The IPO, Silicon Valley's largest, eclipses the roughly $2 billion debut by Google Inc in 2004.

Facebook raised the target price range to $34-$38 per share in response to strong demand, from $28-$35, according to a Tuesday filing. That would value the company at $93-$104 billion, rivaling the market value of Internet powerhouses such as Amazon.com Inc, and exceeding that of Hewlett-Packard Co and Dell Inc combined.

The increased price range made it very unlikely that Facebook shares would double on their trading debut as they might have if the company had come out at the low end of its initial price range, Wolff said. He expects a first-day gain of about 10 percent.

"No rational person thought they were buying the stock for $28," said Wedbush Securities analyst Michael Patcher, noting Facebook had traded as high as $44 in the secondary markets in recent months.

Facebook said in Tuesday's filing that it arrived at the higher IPO price range after one week of marketing the offering - part of a cross-country roadshow in which CEO Zuckerberg has taken the stage to lay out his vision for the company's money-making potential and its top priorities.

The price range hike, coupled with strong results from internet and social media players Groupon Inc and China's Renren Inc, contributed to a dotcom rally on Wall Street on Tuesday. Shares of Pandora Media Inc rose 10.3 percent, Zynga Inc was up 7.7 percent, Groupon climbed 3.7 percent and Renren gained 6.4 percent.

LONG-TERM GROWTH

Before the IPO size was increased, Facebook would have raised about $12.1 billion based on the midpoint price of $36 and the 337.4 million shares on offer originally.

At this midpoint, Facebook would be valued at roughly 27 times its 2011 revenue, or 99 times earnings. Google went public at a valuation of $23 billion, or 16 times its trailing revenue and 218 times earnings. Apple Inc went public in 1980 at a valuation of 25 times its revenue and 102 times earnings.

Facebook's IPO comes as some investors worry the company has not yet figured out a way to make money from a growing number of users who access the social network on mobile devices such as smartphones. Meanwhile, revenue growth from Facebook's online advertising business, which accounts for the bulk of its revenue, has slowed in recent months.

With some 900 million users, it had $1 billion in net income on revenue of $3.7 billion in 2011.

The company has also extended the time frame for its $1 billion acquisition of mobile app maker Instagram, projecting the deal would close this year instead of the second quarter as it previously indicated.

It provided no reasons, though a source familiar with the matter told Reuters last week that the U.S. Federal Trade Commission has reached out to Google and Twitter as part of the agency's standard review for deals of that size.

Facebook is scheduled to begin trading on the Nasdaq on Friday. A host of Wall Street banks are underwriting the offering, with Morgan Stanley, JPMorgan and Goldman Sachs serving as leads.



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Yemen clashes kill 13 Al Qaeda militants, 4 troops

Yemen military officials say the latest fighting to uproot Al Qaeda from the country's south has killed 13 militants, as well as four soldiers and two militiamen fighting alongside the army.

The officials say the 13 Al Qaeda fighters died Wednesday as they tried to recapture a strategic hilltop overlooking the town of Lawder in Abyan province from where they were driven out a day earlier. The two militiamen died in that battle.

Meanwhile, a military hospital official says four soldiers died in fighting in the provincial capital Zinjibar.

All the officials spoke on condition of anonymity because they are not authorized to talk to the media.

Yemeni officials say U.S. troops are for the first time helping direct a four-front assault on Al Qaeda strongholds launched Tuesday.



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Genocide trial for Bosnian commander Mladic opens

  • mladicHeadshot.jpg

    FILE: Twenty years after Serb forces unleashed a brutal campaign of ethnic cleansing in Bosnia, their military commander Gen. Ratko Mladic is finally going on trialAP

Twenty years after the opening shots of the Bosnian War, former Bosnian Serb military commander Gen. Ratko Mladic has gone on trial at a UN tribunal on 11 charges of genocide, crimes against humanity and war crimes.

The ailing 70-year-old Mladic's appearance at the Yugoslav war crimes tribunal marks the end of a long wait for justice to survivors of the 1992-95 war that left some 100,000 people dead.

Mladic gave a thumbs-up and clapped to supporters in the court's public gallery as the trial got under way Wednesday.

Munira Subasic, who lost 22 family members in the 1995 Srebrenica massacre, was among a group of relatives of war dead heading into the courtroom to face Mladic.

The 65-year-old said she wanted to look him in the eye "and ask him if he will repent for what he did."



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White supremacist far behind in Idaho sheriff race

By Laura Zuckerman | Reuters â€" 

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Greeks pull funds from banks; emergency cabinet to be named

By Harry Papachristou and Ingrid Melander | Reuters â€" 

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Buffett\'s firm buys 10 million share stake in GM

OMAHA, Neb. (AP) - Warren Buffett's company is apparently bullish on the U.S. auto industry.

Berkshire Hathaway Inc. took a new 10-million share stake in General Motors Co. in the first quarter. The investment comes as the Detroit automaker continues to rebound from bankruptcy three years ago. Fueled by U.S. vehicle sales, it posted first-quarter net income of $1 billion.

Buffett drives a GM-made Cadillac DTS sedan, so the investment could be a further sign of his preference among U.S. automakers. Berkshire is not invested in Ford Motor Co. or Chrysler, which is majority owned by Fiat SpA.

But the purchase of the GM stake, worth about $214 million as of Tuesday, could also have been made by one of Berkshire's other investment managers. Berkshire's only other known auto investment is its roughly 10 percent stake in Chinese electric car maker BYD.

Omaha-based Berkshire also revealed in a regulatory filing Tuesday that it boosted its stake in Wal-Mart by almost 8 million shares to 46.7 million shares.

The first-quarter move to expand Berkshire's stake in Wal-Mart came before The New York Times published a report detailing allegations that Wal-Mart executives used bribes to speed the retailer's expansion in Mexico.

Buffett told Berkshire shareholders earlier this month, however, that the scandal didn't change his view on Wal-Mart's value or its earning power.

Berkshire officials don't typically comment on the quarterly investment reports, and they did not respond to a message on Tuesday about the latest update.

The documents Berkshire filed with the Securities and Exchange Commission also don't reveal everything Buffett and the company's two new investment managers were buying and selling in the first quarter. That's because regulators allow them to omit some of the company's holdings from the report.

Berkshire tweaked a number of positions in its $75.3 billion portfolio during the first three months of 2012. It also added a stake of 1.6 million Viacom shares, which was the only new holding reported besides GM.

It also boosted its investments in DirecTV, Liberty Media, DaVita Inc. and the Bank of New York Mellon.

Berkshire reduced its holdings in Intel Corp., Kraft Foods, Dollar General, Procter & Gamble and Verisk Analytics.

The IBM stake that Berkshire first reported last fall grew to 64.4 million shares by the end of March from 63.9 million in December.

Initially, the IBM investment surprised many because Buffett had long refused to invest in technology companies because it's too hard to predict which one will prosper in the long run. But Buffett said in November that IBM had become more of a service company with long-lasting customers who are reluctant to change.

Buffett makes most of the investment decisions at Berkshire, but Tuesday's filing didn't differentiate between choices he made and ones made by the company's other investment managers, Todd Combs and Ted Weschler.

Buffett has said he doesn't typically make investments worth less than $300 million, so many of the moves reported Tuesday are likely the work of Combs or Weschler.

Buffett has praised both Combs and Weschler and said the two men are managing $2.75 billion each, while Buffett oversees the remaining roughly $150 billion.

Combs started at Berkshire last year, so he is further along in building his portfolio. Weschler started early this year.

Berkshire's investments are closely watched in the market because of Buffett's successful record.

Berkshire occasionally receives permission from the SEC to delay disclosing some stock purchases to prevent others who follow Buffett's moves from driving up the price of those stocks before Berkshire completes its purchases. Berkshire then discloses the purchases or sales in a subsequent quarter and issues amended reports for previous quarters.

The SEC says it grants such confidentiality to investment managers only when they can show they would be harmed substantially by immediate disclosure.

Besides investments, Berkshire owns roughly 80 subsidiaries, including clothing, furniture and jewelry firms, but its insurance and utility businesses typically account for more than half of the company's net income. Other major investments include Coca-Cola Co.

___

Online:

Berkshire Hathaway Inc.: www.berkshirehathaway.com



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Facebook boosts IPO size by 25 percent, could top $16 bil

By Olivia Oran and Alexei Oreskovic

NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc will increase the size of its initial public offering by 25 percent, a source familiar with the matter said, and could raise as much as $16 billion as strong investor demand for a share of the No.1 social network trumps debate about the company's long-term potential to make money.

Those concerns over revenue growth were underscored earlier on Tuesday, when General Motors said it planned to pull out of advertising on Facebook.

Facebook, founded eight years ago by Mark Zuckerberg in a Harvard dorm room, will add about 85 million shares to its IPO, floating about 422 million shares in an offering expected on Friday, the source told Reuters, declining to be identified because the information was confidential.

The expanded size, coupled with Facebook's recently announced plans to raise the IPO price range, would make Facebook the third-largest initial share sale in U.S. history after Visa Inc and GM. Facebook declined to comment on the increased IPO size, which was first reported by CNBC on Tuesday.

The social networking company is drumming up massive demand for the offering even as slowing revenue and user growth spur questions about the long-term Facebook story.

"This is much more a spectacle, a media event and a cultural moment than it is an IPO," said Max Wolff, an analyst at GreenCrest Capital. "This is not a game of models and fundamentals at this point."

GM's announcement, while ill-timed, should not seriously hurt Facebook's IPO reception for now as it may not be representative of advertisers' overall attitude, said Brian Wieser, an analyst with Pivotal Research Group. "The demand for the IPO probably won't be affected materially by this," he said, noting, however, there were probably a lot of calls between underwriters and investors following GM's announcement.

The IPO, Silicon Valley's largest, eclipses the roughly $2 billion debut by Google Inc in 2004.

Facebook raised the target price range to $34-$38 per share in response to strong demand, from $28-$35, according to a Tuesday filing. That would value the company at $93-$104 billion, rivaling the market value of Internet powerhouses such as Amazon.com Inc, and exceeding that of Hewlett-Packard Co and Dell Inc combined.

The increased price range made it very unlikely that Facebook shares would double on their trading debut as they might have if the company had come out at the low end of its initial price range, Wolff said. He expects a first-day gain of about 10 percent.

"No rational person thought they were buying the stock for $28," said Wedbush Securities analyst Michael Patcher, noting Facebook had traded as high as $44 in the secondary markets in recent months.

Facebook said in its latest filing that it arrived at the higher IPO price range after one week of marketing the offering - part of a cross-country roadshow in which CEO Zuckerberg has taken the stage to lay out his vision for the company's money-making potential and its top priorities.

The price range hike, coupled with strong results from Internet and social media players Groupon Inc and China's Renren Inc, contributed to a dotcom rally on Wall Street on Tuesday. Shares of Pandora Media Inc rose 10.3 percent, Zynga Inc was up 7.7 percent, Groupon climbed 3.7 percent and Renren gained 6.4 percent.

LONG-TERM GROWTH

Before the IPO size was increased, Facebook would have raised about $12.1 billion based on the midpoint price of $36 and the 337.4 million shares on offer originally.

At this midpoint, Facebook would be valued at roughly 27 times its 2011 revenue, or 99 times earnings. Google went public at a valuation of $23 billion, or 16 times its trailing revenue and 218 times earnings. Apple Inc went public in 1980 at a valuation of 25 times its revenue and 102 times earnings.

Facebook's IPO comes as some investors worry the company has not yet figured out a way to make money from a growing number of users who access the social network on mobile devices such as smartphones. Meanwhile, revenue growth from Facebook's online advertising business, which accounts for the bulk of its revenue, has slowed in recent months.

With some 900 million users, it had $1 billion in net income on revenue of $3.7 billion in 2011.

The company has also extended the time frame for its $1 billion acquisition of mobile app maker Instagram, projecting the deal would close this year instead of the second quarter as it previously indicated.

It provided no reasons, though a source familiar with the matter told Reuters last week that the U.S. Federal Trade Commission has reached out to Google and Twitter as part of the agency's standard review for deals of that size.

Facebook is scheduled to price its shares on Thursday and begin trading on the Nasdaq on Friday. A host of Wall Street banks are underwriting the offering, with Morgan Stanley, JPMorgan and Goldman Sachs serving as leads.

(Additional reporting by Tanya Agrawal; Editing by Edwin Chan, Maureen Bavdek, Matthew Lewis, Richard Chang, Ryan Woo and Ian Geoghegan)



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NY man dies in bizarre case of delayed drowning

A New York man died in a bizarre case of delayed drowning -- succumbing a number of hours after pulling himself from the waters of Long Island Sound.

Tommy Mollo, 60, was helping a friend move his boat in a marina at New Rochelle when he fell in the water Saturday morning, WABC-TV reported. After returning to his home in nearby Yonkers, he told his wife he felt unwell and she called 911.

Emergency workers took Mollo to the hospital, where he died.

The cause of death was secondary drowning, with water that got in Mollo's lungs when he fell into the Sound believed to have exacerbated existing health issues.

Gabe Wilson, from St. Luke's-Roosevelt Hospital in New York City, said, "Conceivably water could be inhaled while one still had the means to pull themselves out, but it would certainly be a rare occurrence as usually panic sets in by then."

Larry Baraff, from the Ronald Reagan UCLA Medical Center, said it was possible in Mollo's case that "the drowning episode and lack of oxygen led to a heart problem, like a cardiac arrhythmia or a [heart attack]."

But he conceded, "If you make it to the hospital alive, it's very unusual to die from drowning."

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Junior Seau\'s home burglarized just days after his death

Junior Seau's home burglarized just days after his death: There are people in or around the town of Oceanside, ... http://t.co/ckWSOW9X

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Influential panel calls for steep cuts in US nukes

  • Nuclear_Bomb_Dismantled

    October 25, 2011: Parts of a B53 nuclear bomb are pictured prior to shredding at the B&W Pantex nuclear weapons storage facility outside Amarillo, Texas, in this handout photograph.Reuters

An influential panel is calling for an 80 percent reduction of U.S. nuclear weapons and an elimination of all nuclear armed intercontinental ballistic missiles.

In a report for the advocacy group Global Zero, retired Gen. James Cartwright and others argue that the U.S. needs no more than 900 total nuclear weapons for its security in a post-Cold War world. The report chaired by Cartwright, a former vice chairman of the Joint Chiefs of Staff known to be close to President Barack Obama, comes at a time that the president is weighing a range of sharp nuclear reductions.

The Obama administration is reportedly considering at least three options for lower total numbers of deployed strategic nuclear weapons: reducing their numbers to 1,000 to 1,100; 700 to 800; or 300 to 400. The Global Zero report calls for such weapons to be reduced to about 450, while maintaining an equal number of stored weapons.

The U.S. and Russia have an estimated 5,000 nuclear weapons each, either deployed or in reserve. The two countries are already on track to reduce to 1,550 deployed strategic warheads by 2018, as required by the New START treaty.

The proposal also calls for achieving the cuts over 10 years either unilaterally or through negotiations with Russia that would also include an agreement that would take weapons off of the kind of hair-trigger launch capacity that planners have long worried could leave a president with only minutes to decide how to respond to incoming missiles. This would be accomplished by requiring steps that would take 24 to 72 hours to fire off a nuclear weapon either from a submarine or from a strategic bomber.

Any new agreement with Russia is unlikely in an election year and would likely face stiff resistance by Republicans in Congress even after the November elections. The report that Obama was considering such steep cuts has already elicited Republican criticism.

Any push to eliminate U.S. ICBMs would also face resistance, but the Global Zero report argues that they are of little use against any likely adversary except Russia, because the flight paths from silos in the United States all pass over or near Russia and could trigger a response from Russia's massive arsenal.

The report argues that such drastic cuts in nuclear forces by the United States and Russia could open the way for the two countries to open arms control talks with other countries, including China.

The authors, who also include former Republican Sen. Chuck Hagel, former ambassadors Richard Burt and Thomas Pickering and retired Gen. Jack Sheehan and Global Zero co-founder Bruce Blair, argue that the deterrent from enormous nuclear arsenals that were critical in the Cold War standoff between the United States and Russia add no strategic value to address current threats.

"There is no conceivable situation in the contemporary world in which it would be in either country's national security interest to initiate a nuclear attack against the other side," the report says.

At a time of tight defense spending, the authors also estimate that the cuts would save the U.S. $100 billion over a decade.



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