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By msnbc.com wire reports
NEW YORK ? Stocks slid ahead of a confidence vote for Greece’s embattled prime minister Friday. Investors are worried that the country might not go through with an austerity program needed to prevent a messy default on its debt. The Dow Jones industrial average was down about 60 points at the closing bell.
Groupon Inc. jumped 38 percent to $27.45 on its first day of trading. The initial public offering of the company, which pioneered online group discounts, priced at $20 a share late Thursday. Social networking site LinkedIn Inc. dropped 6.5 percent to $81.77 after posting its first quarterly loss since going public.
A report on the U.S. job market was mixed. The government said 80,000 jobs were created last month. That was a drop from the 158,000 added in September. On the positive side, the unemployment rate fell to 9 percent from 9.1 percent, the first decline since July.
The release of the Labor Department’s monthly employment report is usually a key focus for investors, but this time the unfolding drama over containing Europe’s debt crisis was again driving the action.
Greek Prime Minister George Papandreou’s government faces a vote of confidence later Friday that could determine whether he stays in office. Papandreou stunned financial markets and European leaders on Monday with a call for a popular vote on an unpopular package of austerity measures. The vote was scrapped Thursday, but markets are still unnerved by the political turmoil in Greece, which threatens to hobble Europe’s efforts to control its debt crisis.
“Unless the jobs number came out with a huge surprise one way or the other, it’s just a momentary diversion from where the market focus has been, and will continue to be for the foreseeable future, until there is a resolution in Europe,” said Brad Sorenson, head of market analysis at Charles Schwab.
The austerity measures are needed to prevent Greece from defaulting on its debt, which would throw the European financial system into turmoil. Investors are worried that if Greece defaults it could cripple European banks and cause fiscal strain on much larger European countries like Italy, which are too big to bail out. Greece, Ireland and Portugal ? all relatively small countries ? have received financial lifelines from international lenders.
According to preliminary calculations, the Dow Jones industrial average was down 61 points, or 0.51 percent, at 11,983.47. The index is down more than 2 percent for the week after steep declines Monday and Tuesday.
The S&P 500 fell 7.91, or 0.63 percent, at 1,253.24. The Nasdaq composite shed 11.82, or 0.44 percent, to 2,686.15.
In U.S. corporate news, MF Global CEO Jon Corzine stepped down Friday. The securities firm filed for bankruptcy protection Monday after being brought down by bets on European debt.
Starbucks Corp. jumped 7 percent to $44.28 after the company’s quarterly results beat Wall Street’s expectations. Advanced Micro Devices Inc. fell 1 percent to $5.69 after the chip maker said it would cut 1,400 workers because of a weak market for computers and manufacturing delays.
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Welcome to?Just Show Me on Tecca TV, where we show you tips and tricks for getting the most out of the?gadgets in your life. In today’s episode we’ll show you how to rent movies on your Android tablet or phone.
With the Android Market you can easily rent movies to watch wherever you go. Most movies come with restrictions on how long you can watch it; for instance, many movies you can rent require that you finish watching it 24-hours after you’ve started playing it. New releases on the Android Market in general cost $3.99 to rent, while older movies cost $2.99.
For more episodes of Just Show Me, subscribe to Tecca TV’s YouTube channel and check out all our Just Show Me episodes. If you have any topics you’d like to see us cover, just drop us a line in the comments.
This article originally appeared on Tecca
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TEHRAN (Reuters) ? A senior Iranian cleric Sunday dismissed talk of a military strike by Israel as empty propaganda, taunting the Jewish state for screaming “like a cornered cat” rather than roaring like a lion.
Israeli media have speculated that Prime Minister Benjamin Netanyahu is seeking cabinet consensus to attack Iranian nuclear sites as Western diplomats say new evidence that Tehran researching ways to build atom bombs will be published this week.
Some analysts dismiss the speculation as part of a strategy of psychological warfare to raise pressure on Iran and bolster a case for harsher international sanctions sought by Washington, rather than endorse or participate in military action.
“The recent threats of the Zionist regime against Iran are more for internal consumption for themselves and their masters who are struggling with the Wall Street movement,” said Ayatollah Mahmoud Alavi, referring to anti-capitalism protests that began in New York and have spread around the world.
“There is a difference between the roar of a lion and the scream of a cat that has been trapped in a corner,” he said. “And this threat of the Zionist regime and its master America is like the scream of a cornered cat.”
Alavi, a member of the Assembly of Experts, a body that appoints and supervises Iran’s supreme leader, said Israel would not dare attack Iran. “If they make such a mistake they will receive a crushing response from the Islamic Republic,” he told the official IRNA news agency.
Iran says it would respond to any attack by striking U.S. interests in the region and could close the Gulf to oil traffic, causing massive disruption to global crude supplies.
TICKING CLOCK
Israeli President Shimon Peres said Friday that Western intelligence services were “looking at the ticking clock, warning leaders that there is not much time left” to stop Iran getting the bomb.
Iran is already under four rounds of United Nations sanctions due to concerns about its nuclear program, which it says is entirely peaceful. Washington is pushing for tighter measures after discovering what it says was an Iranian plot to kill the Saudi ambassador to the United States.
A new report due from the U.N. nuclear watchdog Wednesday is set to present new information fleshing out indications of possible military dimensions to its atomic work, adding impetus to the sanctions push, Western diplomats say.
Many Israelis see a nuclear-armed Iran as a threat to their existence. Iranian leaders say they are religiously opposed to nuclear arms and accuse the United States and Israel, which is widely assumed to have the Middle East’s only nuclear arsenal dating back decades, of hypocrisy on the issue.
Hawks in Israel and the United States say sanctions have failed and the only way to prevent a nuclear Iran might be a pre-emptive strike — something many military experts say would be dangerous, difficult and have unpredictable consequences.
“The Zionists and America know putting these threats into practice is very costly, the world will stand against them and that is why they will not do such a foolish thing,” Alavi said.
In Paris, French Foreign Minister Alain Juppe warned that military action against Iran’s nuclear program could create a “totally destabilizing” situation in the Middle East and France would instead seek to harden sanctions.
“We can still strengthen them (sanctions) to put pressure on Iran and we are going to continue along this path because a military intervention could create a totally destabilizing situation in the region,” Juppe told Europe 1 radio.
“We must do everything to avoid the irreparable,” he said.
(Additional reporting by Alexandria Sage and Sophie Louet in Paris; Writing by Robin Pomeroy; Editing by Mark Heinrich)
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It's that time again. The Greatest Android Podcast in the World is on the air! Hit the link below for the live show, which gets going Thursday about 9 p.m. EDT / 6 p.m. PST.
Source: http://feedproxy.google.com/~r/androidcentral/~3/9JpJGyYrP28/story01.htm
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The X Factor has been renewed for a second season, so allow us to make a suggestion: Can we just fast forward to that second season now? The first season title is wrapped up!
Okay, we exaggerate, but not by much. Once again, Melanie Amaro put on the best performance of the week last night, standing still on center stage and belting out an a capella version of “Desperado” that received nothing but praise from every judge. How good is Amaro?
Even Paula Abdul makes sense when gushing over the singer, saying in this case that her voice is akin to “fine china. Just bring it out for the most special occasions.”
Source: http://www.thehollywoodgossip.com/2011/11/melanie-amaro-awesome-on-the-x-factor/
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“Breaking Dawn” remains the hot item on Robert Pattinson and Taylor Lautner’s dance cards for the foreseeable future, but it’s certainly not the only movie either actor has in development. Pattinson’s breaking away from his Edward Cullen image in a big way with director David Cronenberg’s upcoming “Cosmopolis,” for example, while Lautner’s name has been [...]
Source: http://moviesblog.mtv.com/2011/11/04/robert-pattinson-american-idiot-jeff-buckley/
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Source: http://www.msnbc.msn.com/id/21134540/vp/45171610#45171610
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LOS ANGELES ? Universal’s debuting “Tower Heist,” starring Eddie Murphy and Ben Stiller, should rob domestic audiences of between $25 million and $30 million this weekend.
Directed by Brett Ratner, who helmed the “Rush Hour” franchise, the action comedy features an all-star cast and should attract folks in the mood for some summer-style PG-13 fun.
Paramount/Dreamworks’ “Puss in Boots” in 3-D had a solid $34 million debut last weekend and has maintained its first-place status in the midweek derby. A modest second-weekend drop is likely to give the swashbuckling feline a second-place finish in the low $20 million range. The film should cross the $60 million mark by Sunday night.
“A Very Harold & Kumar 3D Christmas,” the first holiday-themed movie of the season, should be warmly received by the college crowd at around $15 million. This is the third film in the franchise and features John Cho and Kal Penn in the title roles, and Neil Patrick Harris once again playing a fictionalized version of himself.
Fox’s sci-fi thriller “In Time” debuted in third place last weekend but has been holding steady in second place midweek and should take in another $7 million to $8 million this weekend for a fourth-place finish.
“Paranormal Activity 3″ will round out the top 5 with about $6 million to $7 million in its third weekend of release. Despite a steep second-weekend drop, the low-budget horror phenomenon is a huge profit center for Paramount and will have earned more than $90 million in total domestic receipts by Sunday night.
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Paul Dergarabedian is president of the Box Office Division of Hollywood.com and provides box office analysis for The Associated Press.
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Online: http://www.Hollywood.com
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