Cameron leads at G8 " but the others fail to follow

Apple's iPhone 4 global sales top 1.7 mil. in 3 days after debut+
NEW YORK, June 28 (AP) - (Kyodo)—Apple Inc. said Monday it sold over 1.7 million units of its iPhone 4 globally in the three days following the launch of the latest version of the company's Smartphone. The figure compares with 1 million units sold in the three days following the debut of the previous version of the iPhone in June last year. "This is the most successful product launch in Apple's history," Apple Chief Executive Officer Steve Jobs said in a statement. The iPhone 4 is...

The Locust Years
A  few months ago Peter Hitchens reminded his readers in the Daily Mail that a mere 70 years ago--in 1939 to be precise--"we were the world's greatest empire. Half the globe used our currency, we controlled vast resources, and owned enormous foreign investments. .

Economic Outlook: Peaceful disagreements
The Group of 20 Nations in Toronto agreed to reduced government Deficits in a meeting defined by odd contrasts in fiscal management and in vocabulary. Using the year's most vivid oxymoron, President Barack Obama said the nations mapping out the path for Economic Recovery were in "violent agreement," with an accord announced Sunday that called for Deficits to be halved by 2013 and stabilized by 2016. With bank Regulation mostly off the agenda -- to be tackled more forcefully at a G20 summit in...

British PM Faces Off Against Obama at G20
The Prime Minister last night defiantly rejected U.S. criticism of the decision of Britain to tackle Deficits with massive cuts and tax rises.   David Cameron heightened tensions with President Barack Obama over Spending cuts by calling for all major economies to take 'unavoidable' belt-tightening steps as quickly as possible.   As the pair prepared to meet for the first time on the world stage, the Prime Minister went out of his way to point out that Britain had demonstrated with...

A Roadmap to Energy Freedom
It is sad and disingenuous for Liberals to suggest that America's Energy troubles would disappear if only we rid ourselves of the evil Oil companies. It is an Inconvenient Truth that we will be dependent on Oil-based Energy for the foreseeable future. And we can't pretend, as the Environmentalists seem to, that enacting harsh Oil consumption taxes without proposing viable alternatives will somehow solve our Energy problems.    Conservatives have led the way in embracing alternative...

Apple sells more than 1.7 million iPhone 4s in first 3 days, beating previous models
NEW YORK — Apple Inc. said Monday that it sold more than 1.7 million units of its new iPhone model in the first three days, making it the most successful product launch in the company's history from the standpoint of sales. The iPhone 4 went on sale Thursday in the U.S., Britain, France, Germany and Japan. High demand for the model caused shortages and unruly crowds at some stores. "This is the most successful product launch in Apple's history," said Steve Jobs, Apple's CEO. "Even so, we...

Japan cancels part of flu vaccine deal with Novartis+
Tokyo, June 28 (AP) - (Kyodo)—Japan's Ministry of Health, Labor and Welfare said Monday it has agreed with Swiss drug maker Novartis AG to cancel part of a deal for H1N1 Influenza Vaccine because of a larger-than-expected surplus. The cancellation agreement covers around 8.38 million doses, or 33.5 percent of the 25 million doses the Pharmaceutical company had agreed to supply under a contract with the Japanese government. With the cancellation, the government will save about 1.56...

Stocks in narrow range after G20 agrees to cut deficits; consumer spending inches higher
NEW YORK — Stocks are trading in a narrow range as Consumers remain tentative about Spending and the Group of 20 nations pledged to Cut Budget Deficits. The lack of any major moves comes ahead of a big week of domestic economic data, culminating with the monthly jobs report. A report Monday shows Consumers are still nervous about Spending as Unemployment remains high. Industrialized countries among the G20 have said they will Cut Deficits in half by 2013. However, they have not agreed...

Stock futures point to higher opening for the week after G20 pledges to cut budget deficits
NEW YORK — Stock futures are pointing to a higher opening Monday after members of the Group of 20 nations pledged to Cut Budget Deficits. The modest gains come ahead of a big week of domestic economic data as well, culminating with the key monthly jobs report due out Friday. Investors will want to see Private Sector job growth because any signs of hiring would likely add confidence that The Economy is improving. Economic reports in recent months have painted a mixed picture about the...

Stocks set for modest gains as futures rise
STEPHEN BERNARD (AP) - AP Business Writer NEW YORK Stock futures are pointing to a higher opening Monday after members of the Group of 20 nations pledged to Cut Budget Deficits. The modest gains come ahead of a big week of domestic economic data as well, culminating with the key monthly jobs report due out Friday. Investors will want to see Private Sector job growth because any signs of hiring would likely add confidence that The Economy is improving. Economic reports in recent months have...

Stocks open week trading in narrow range
NEW YORK (AP) - Stocks are trading in a narrow range as Consumers remain tentative about Spending and the Group of 20 nations pledged to Cut Budget Deficits. The lack of any major moves comes ahead of a big week of domestic economic data, culminating with the monthly jobs report. A report Monday shows Consumers are still nervous about Spending as Unemployment remains high. Industrialized countries among the G20 have said they will Cut Deficits in half by 2013. However, they have not agreed...

Stocks fall after consumer spending remains weak
NEW YORK (AP) - Stocks slipped Monday after a report signaled that Consumers remain cautious about Spending. The Dow Jones industrial average fell about 6 points in morning trading. Broader indexes also fell. Treasury prices rose and drove down Interest Rates as investors remained concerned about The Economy. The modest drop in Stocks comes ahead of a big week of economic data, including the Government's monthly jobs report on Friday. Investors will want to see Private Sector job growth...

More THREATS From Obama As He WARNS He'll Present "Very Difficult Choices to the Country" Next Year
Speaking at a Press Conference at the G20 Summit in Canada yesterday, Obama lectured everyone about how we need to learn that he does what he says he will do . Obama: "For some reason people keep being surprised when I do what I said I was going to do. So, I say I'm going to reform our HCR, and people say well gosh that's not smart politics maybe we should hold off. Or I say we're going to move forward on DADT and somehow people say well why are you doing that, I'm not sure that's...

Air America :
“The Icarus Syndrome: A History of American Hubris” (Harper; $27.99) belongs to the literature of humbling—a fact that Peter Beinart readily admits on its first page, where he describes a lunch of martinis and political gossip in New York with an elderly Arthur Schlesinger, Jr. In the runup to the invasion of Iraq, Beinart, the wunderkind editor of The New Republic , had fastened on wings of superb confidence and taken to Air and print in order to champion the coming War....

Obama: Odd Man Out in Economic Summit!
Our allies are moving to cut Spending and Debt at the same time Obama urges them to party on! President Barack Obama, right, stands beside French President Nicolas Sarkozy and other G8 Leaders during a family photo with African Outreach Leaders during the G8 Summit at the Deerhurst Resort in Hunstville, Ontario, Canada, Friday, June 25, 2010. With U.S. Gross Domestic Product being revised significantly downward and our high Unemployment rate well above that of our nearest neighbor Canada...

Cameron doesn't budge on Falkland claims
Toronto, June 28 (UPI) -- British claims to the Falkland Islands won't change, the British Government said amid lingering energy disputes with the Argentine Government. British Oil explorer Desire Petroleum started Drilling for Oil in waters about 100 miles off the coast of the Falkland Islands in February. Oil and gas explorers drilled six wells in the North Falkland basin in 1998 but market conditions caused them to delay development. Investors now see the area as a lucrative commercial...

Russia suggests oil firm levy for pollution fund
* Medvedev says Oil firm levy could pay for Disaster fund Stocks * Says to introduce Pollution bill in Russia * Calls for Oil firms to pay levy for eco Disaster fund. Toronto, June 27 (Reuters) - Russian President Dmitry Medvedev called on Sunday for a special levy on Oil companies to finance a fund to help Clean up Environmental Disasters such as BP's ( BP.L ) Oil Spill in the Gulf of Mexico. Medvedev, who heads the world's biggest Energy producer, made a proposal for a global Pollution fund...

Competing Ideologies: G20 v. US Social Forum
"Europe is committing fiscal Suicide - and will have little trouble finding allies at this weekend's G-20 meetings," attendees "calling for cutbacks in public spending" when Economic Recovery requires Stimulus, Job Creation, and public investment, not global wars, Banker Bailouts, or other counterproductive measures. Hudson called the meeting "a carefully orchestrated financial war against the 'real' economy," initiated in America, Obama having "stacked his White House Deficit...

UK artists urge galleries to drop BP
AAP A group of British artists and writers is urging museums and galleries to stop accepting sponsorship from BP PLC and other Oil companies. A total of 171 artists including painter John Keane, playwright Caryl Churchill and Cartoonist Martin Rowson have signed a letter saying arts sponsorships "enable Big Oil companies to mask the environmentally destructive nature of their activities". Green Protesters say they'll picket outside Tate Britain as the gallery celebrates 20 years of BP...

Politician vs Market
In the Travel Channel show Man vs Food, a food eating contest pits Man vs a huge amount of food and/or something very spicy typically within a specific amount of time. While Man mostly wins, the quantity of food and its spice creates a limit that not even Man can overcome. What we are seeing playing out now is Politician vs Market where the debate of spending vs saving to generate growth is the daily topic and highlighted at the G20 meeting. What we’re seeing in Europe are not...

Obama urges changes to stalled world trade talks
Toronto (Reuters) - President Barack Obama on Sunday called for significant changes to the long-delayed Doha round of World Trade talks, telling Group of 20 leaders that offers on the table were inadequate. Politics   |   Russia   |   Barack Obama Obama, who spoke at a lunch with G20 leaders, emphasized that he remained committed to the World ~#~4~#~ Organization's Doha round and was not trying to start it from scratch, according to sources who heard the...

Swan to take international stage at G20
AAP Wayne Swan will perform one of his first duties as deputy Prime Minister this weekend when he meets leaders from the world's biggest economies to begin thrashing out reforms to prevent another Global Financial Meltdown. As treasurer, Mr Swan has had a history of engagement with the G20 but on Saturday (Sunday AEST) that steps up a notch when he stands in for his new boss, Prime Minister Julia Gillard. Mr Swan, who touched down in Canada late on Friday, is an unexpected guest at the meeting...

AP Says Deficit Pledges Will Probably Fail
Some surprisingly harsh "analysis" from the Associated Press : Analysis: World leaders take the Deficit pledge By MARTIN CRUTSINGER (AP) June 28, 2010 Toronto - World leaders made bold pledges to Cut their spiraling Budget Deficits but will probably fall far short of their lofty goals . After Spending massive amounts of money to rescue the Global Economy from the worst downturn in decades , the Group of 20 major industrial and developing nations have reversed course and promised to...

Robert Kuttner: It's the Jobs, Stupid
The Americans wrapped up their Meetings at the Toronto summit in an oddly contradictory posture. With much of the world afflicted with Austerity fever, President Obama's team found itself in the awkward position of pushing the Europeans not to abandon Economic Stimulus -- while Obama himself is unable to get the U.S. Senate to approve even modest sums to extend expiring Unemployment Insurance for upwards of a million workers, or his $23 Billion request for emergency aid to the states to spare...

Stocks flat at open
NEW YORK (CNNMoney.com) -- Stocks were little changed at the start of trading Monday after leaders of the world's economic powers committed to reducing Deficits over the next few years and reports on Personal Income and spending came in close to expectations. Dow Jones industrial average ( INDU ) was up about 3 points, shortly after the opening bell. The S&P 500 ( SPX ) slid 1 point and the NASDAQ ( COMP ) composite added less than 1 point. Stocks finished Friday's session mixed,...