Currencies: Dollar edges lower as private jobs miss estimates

By Saumya Vaishampayan and Carla Mozee, MarketWatch

NEW YORK (MarketWatch) -- The dollar edged lower against rivals on Wednesday as the U.S. added fewer private-sector jobs in May than expected.

The ICE dollar index /quotes/zigman/1652083 DXY -0.23% , a gauge that measures the greenback?s performance against six other currencies, fell to 82.762 from 82.803 on Tuesday. The ICE dollar index fell as low as 82.49 in the wake of the data but has since risen back to pre-data levels.

The WSJ Dollar Index /quotes/zigman/9625991 XX:BUXX -0.17% , a rival measure that tracks the buck against a larger basket of currencies, exchanged hands at 74.51 compared to 74.54 on Tuesday.

The private sector added 135,000 jobs last month, according to Automatic Data Processing Inc., less than a gain of 170,000 expected by economists polled by Dow Jones Newswires.

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The ADP jobs number is used by some as an indicator for the monthly nonfarm payrolls report due Friday. Investors will closely watch nonfarm payrolls for guidance on when the Federal Reserve will begin to slow its monthly asset purchases, which weigh on the dollar.

?As far as the tapering debate goes, the report does nothing to bolster expectations that the Fed will ease its foot off the pedal over the summer,? said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co., in a note. Read more on the tapering debate here.

The Japanese yen was volatile Wednesday against the U.S. dollar as Japan?s prime minister outlined economic-growth proposals, while Australia?s currency fell following Australian economic growth figures that missed analyst expectations.

U.S. dollar /quotes/zigman/4868099/sampled USDJPY -0.8015% ?recently traded at ?99.67 after the ADP data, compared to ?100.15 on Tuesday.

The U.S. dollar /quotes/zigman/4868099/sampled USDJPY -0.8015% ?slid to ?99.35 as Japanese Prime Minister Shinzo Abe unveiled plans ranging from reforms in the energy market to tax breaks to stimulate activity in the lackluster economy. Japanese stocks also turned lower on Wednesday.

Abe?s push for growth through new economic policies ? dubbed ?Abenomics? ? has been the force behind the central bank?s massive, recently launched monetary stimulus program that?s resulted in the U.S. dollar reaching four-and-a half year highs against the yen above the ?103 level.

Meanwhile, the Australian dollar /quotes/zigman/4867876/sampled AUDUSD -1.2655% ?bought 95.62 U.S. cents, falling after first-quarter gross domestic product in Australia expanded by 0.6%, missing a Dow Jones Newswires consensus forecast of 0.7%.

Various global currency notes

The Aussie traded at 96.33 U.S. cents ahead of the release, around the same level seen late Tuesday in North America.

Australia?s currency last month fell below parity against the U.S. dollar on concerns about domestic economic weakness, with mining investment in Australia expected to peak this year.

Also of concern have been indications of a slowdown in China, Australia?s top export market, with the most recent signal coming from an HSBC gauge showing contraction in the manufacturing sector.

Reserve Bank of Australia Gov. Glenn Stevens said Tuesday that Australia?s economic growth remained ?below trend? and would likely stay that way for the near term. The central bank on Tuesday kept its key policy cash rate at 2.75%, but with inflation currently subdued, it also said there?s some scope for further easing in monetary policy.

Gold traders: Don't ignore the odds

Gold traders should never forget that fundamentals are of import primarily for the long-term investor ? and nearly irrelevant for the short-term trader. Mark Hulbert offers analysis.

The suggestion by policy-makers that they?re keeping the door open to interest-rate cuts pushed the Aussie lower on Tuesday. A cut in the benchmark interest rate could further hurt the Australian dollar, as rate reductions tend to depress debt yields in the currency.

The euro /quotes/zigman/4867933/sampled EURUSD +0.0263% ?rose against the greenback, changing hands at $1.3073 versus $1.3077. The European Central Bank?s June meeting is slated for Thursday in Frankfurt. The ECB cut its benchmark interest rate by a quarter-percentage-point to 0.5% at its May meeting.

The British pound /quotes/zigman/4867886/sampled GBPUSD +0.4649% rose against the U.S. dollar to $1.5344 from $1.5305.

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Saumya Vaishampayan is a MarketWatch reporter based in New York. You can find her on Twitter @saumvaish. Carla Mozee is a reporter for MarketWatch, based in Los Angeles. Follow her on Twitter @MWMozee.

Source: http://www.marketwatch.com/news/story.asp?guid=%7B2C69E35C-CD7D-11E2-A536-002128040CF6%7D&siteid=rss

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Lindsey Vonn Drug Tested At Ritzy CFDA Awards Party: Report

Dressed to kill at the Council of Fashion Designers of America (CFDA) Awards on Monday night in New York, Olympic skier Lindsey Vonn was reportedly called out of the event to undergo a mandatory drug test with the International Olympic Committee.

Tiger Woods' new girlfriend was accompanying fashion designer Cynthia Rowley to the event -- dressed in the designer's custom made white gown -- when she got a call from the IOC that it was time to pee in a cup, as first reported by the New York Post.

Vonn's spokesperson and the USADA later confirmed the test to The Associated Press.

"She understands it is part of the job," Lewis Kay, Vonn's spokesman, told The Associated Press via email Wednesday.

As Fashionista's Nora Crotty quipped: "Nothing says high fashion like peeing in a cup whilst Anna Wintour schmoozes nearby, right?"

The skier reportedly passed the test and enjoyed the rest of the evening. Thankfully there was plenty of champagne to wash away any embarrassment that might have endured.

"We appreciate her professionalism and for accommodating this process, which at times can be inconvenient," USADA spokeswoman Annie Skinner told The Associated Press.

Although Woods wasn't with her at the event, Vonn said she was content with their relationship.

"We just are happy," she told People Magazine. "We're similar. We're both at the top of our sports, and we relate really well to each other."

Visit the New York Post for more details on the story.

Also on HuffPost:

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Source: http://www.huffingtonpost.com/2013/06/05/lindsey-vonn-drug-test-cfda_n_3390681.html

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LA Kings beat Chicago 3-1 in Game 3 of West finals

Los Angeles Kings right wing Justin Williams (14) fights with Chicago Blackhawks center Andrew Shaw (65) during the second period of Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013 in Los Angeles. (AP Photo/Jae C. Hong)

Los Angeles Kings right wing Justin Williams (14) fights with Chicago Blackhawks center Andrew Shaw (65) during the second period of Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013 in Los Angeles. (AP Photo/Jae C. Hong)

Chicago Blackhawks goalie Ray Emery (30) loses his footing as he brings the puck up the ice against Los Angeles Kings center Anze Kopitar (11) during the first period in Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013, in Los Angeles. (AP Photo/Mark J. Terrill)

Los Angeles Kings center Jarret Stoll (28) collides with Chicago Blackhawks defenseman Johnny Oduya (27) during the first period of Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013, in Los Angeles. (AP Photo/Jae C. Hong)

Los Angeles Kings right wing Justin Williams (14) celebrates in front of defenseman Rob Scuderi (7) after scoring a goal against the Chicago Blackhawks during the first period in Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013, in Los Angeles. (AP Photo/Mark J. Terrill)

Los Angeles Kings goalie Jonathan Quick blocks a shot by the Chicago Blackhawks during the first period of Game 3 of the NHL hockey Stanley Cup playoffs Western Conference finals, Tuesday, June 4, 2013, in Los Angeles. (AP Photo/Jae C. Hong)

LOS ANGELES (AP) ? The Los Angeles Kings know all about the creeping inevitability that sets in when a team gets behind 0-3 in a playoff series. After all, that's where they put every opponent they faced on the way to the Stanley Cup title last year.

With more big points from their Siberian defenseman and even more big saves from their champion goalie, Los Angeles stayed safely out of that hole in the Western Conference finals.

Slava Voynov had a goal and an assist, Jonathan Quick made 19 saves, and Los Angeles beat Chicago 3-1 in Game 3 Tuesday night, trimming the Blackhawks' series lead to 2-1.

"This is kind of what I expected this to be when we did it last year," captain Dustin Brown said. "Last year, we were playing at a level few teams ever play at. This year, it's taking that extra effort out of us, and we're coming up with it."

Game 4 is Thursday night in Los Angeles.

Justin Williams also scored and Dwight King added an empty-net goal in the defending NHL champions' 15th consecutive home victory since March. The Kings never trailed while ending the top-seeded Blackhawks' five-game postseason winning streak, but they had to survive a tense third period with Quick's brilliance and a strong defensive effort, avoiding that nearly insurmountable three-game deficit.

"It's not something we wanted to try and test out, so it was certainly a must-win in our situation," Kings defenseman Rob Scuderi said. "We were just able to be aggressive instead of sitting back and letting them dictate the pace this time. That's what we have to do to compete with those guys."

Jeff Carter had two assists in an inspired effort, despite the absence of injured linemate Mike Richards, and Voynov had his fourth multipoint game in a prolific postseason. Every time the Blackhawks mounted their speedy attack, the Kings survived with solid defense and fortunate bounces ? a combination they've been getting all spring at Staples Center.

Although they can't explain it, the Kings have won all eight of their home playoff games ? nine straight dating to last season's title clincher. After their 16-4 roll through last season's playoffs, not much has been easy this year for the Kings, who haven't scored more than two goals without an empty-netter in their last eight games.

"We have a certain way we need to play," Kings defenseman Robyn Regehr said. "For whatever reason, we do a heck of a good job of it at home, and not as good on the road."

Bryan Bickell scored and Corey Crawford stopped 25 shots for the Blackhawks, who chased Quick from Game 2 and earned back-to-back home victories to open the series last weekend.

The Kings had lost five of their previous seven playoff games before getting back to friendly Staples Center and their sellout crowd. Quick also returned to Conn Smythe Trophy form in Game 3, highlighted by a dazzling late save on Bickell, while his low-scoring teammates generated just enough offense to hold off the Blackhawks, who hadn't lost since Game 4 of the second round.

"They play a lot better at home," Crawford said. "They were buzzing. They were running around a little bit more than in Chicago, but we were ready for that. We knew they would come harder. We were almost there. We almost tied it."

The Blackhawks matched their playoff low with just 20 shots, but the Presidents' Trophy winners were one good bounce away from tying the score in the final minutes.

Brandon Saad nearly had an open net after a cross-ice pass from Viktor Stalberg with 5 minutes left, but couldn't collect the puck. Moments later, Keith missed a near-breakaway at the Kings' blue line when Chicago went offside ? and Quick set off a frenzy in the crowd when he stopped Bickell's fine chance late.

"We knew exactly what kind of game they were going to play, and that they would have more confidence and more energy in their own building," Saad said. "We just didn't bring that same effort and same pace. There were a lot of little thing we could do better, but that comes with our preparation and being ready to play at the highest level. We know we've got to be better than that."

The Kings played their second straight game without Richards, their leading postseason scorer heading into Game 3. The veteran center has an apparent concussion after a big hit from Dave Bolland in the series opener.

Richards' absence opened a lineup spot for promising rookie Tyler Toffoli, who has three points in the last two games. The 21-year-old AHL rookie of the year got the primary assist on Voynov's goal.

After the Kings scored just 11 goals in their previous seven games, coach Darryl Sutter shook up his lines. Slumping center Anze Kopitar was moved back to the third line, while Jarret Stoll moved up to the Kings' nominal top line between Williams and Brown.

Between the line changes and the desperation necessary in such a situation, the Kings came out with a noticeable edge and improved passing. They took the lead just 3:21 in on a strong sequence started and finished by Williams, who forced Nick Leddy's turnover before scoring on a pass from Voynov.

The two-time Stanley Cup winner has six goals in the playoffs ? four in the past six games ? after scoring just 11 in the 48-game regular season.

Los Angeles kept up the pressure in the second period, with Carter and Toffoli generating sustained pressure before Voynov beat Crawford, who was screened. Voynov's shot was doubly hard to stop because he broke his stick on the swing, turning it into a changeup.

The Kings got a four-minute power play moments later when defenseman Duncan Keith high-sticked Carter in the face, punctuating a bad-tempered game by opening a gash on Carter's mouth. Sutter thought Keith deserved a match penalty for the nasty play, calling it "retaliation."

But Los Angeles managed just one shot on that scoreless power play, and Bickell got the Blackhawks back in it with his seventh goal of the postseason in the final minute of the second period. Bickell was left untouched behind the net after Kings defensemen Drew Doughty and Robyn Regehr both lost their footing, and the pending free agent skated in front alone to beat Quick with just Chicago's third shot of the period.

But the Blackhawks couldn't get another past Quick, who had dominated the first two rounds with the same style that made him the Kings' playoff MVP last year.

The Blackhawks hadn't been at Staples Center since both clubs' season opener Jan. 19, when Chicago spoiled the Kings' banner-raising ceremony with a 5-2 victory.

NOTES: Williams and Chicago RW Patrick Sharp nearly fought early in the game while scuffling for position before a faceoff, but linesmen kept them apart. "He asked me to fight," Sharp said. "If he asks me again, I'll fight him any day he wants." ... D Jake Muzzin returned to the Kings' lineup after sitting out in favor of Alec Martinez in Game 2. ... Carter went to the dressing room for repairs after Keith's high stick. Sharp went to the dressing room late in the second period after a big hit from Brown, but he returned to the bench for the third period. ... Tom Cruise and Jim Belushi attended the game.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-06-05-Blackhawks-Kings/id-33fa75de49204592bd866f43c10f640e

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Kansas wheat farmer sues Monsanto over rogue wheat release

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Kansas wheat farmer sues Monsanto over rogue wheat release
A U.S. wheat farmer has sued Monsanto Co, accusing the biotech seed giant of gross negligence for not containing an experimental genetically modified wheat discovered in an Oregon field that has put U.S. wheat export sales at risk.

Source: Reuters
Posted on: Wednesday, Jun 05, 2013, 8:02am
Views: 21

Source: http://www.labspaces.net/128500/Kansas_wheat_farmer_sues_Monsanto_over_rogue_wheat_release

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With 35M Unique Viewers A Month, Twitch Hires An In-House Ad Sales Team To Ramp Up Monetization

E-sports streaming startup Twitch has already seen massive growth in its audience since launching to the public just about two years ago. Now it's hoping to better monetize that audience, with the creation of an in-house sales team to go after big advertisers in the video game industry.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ESRuozeZffE/

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Preparing Your Pets for Hurricane Season | DoDLive

Story by Navy Petty Officer 2nd Class Kayla Jo Finley, Defense Media Activity

My two dogs, Hank and Bruno, made me become aware of all the necessary precautions for your pets during hurricane season. (Courtesy photo by Navy Petty Officer 2nd Class Kayla Jo Finley)

Hurricane season is here and humans are not the only ones who need to be prepared.? Pets need to be prepared also.? Even if treated like a human, your pets will have different needs than you when it comes to hurricanes.

In my personal experience, I found preparing your pet may be more challenging than preparing yourself for a variety of reasons.? One reason is that unlike animals, we (humans) do not require proof of shots in most circumstances. Another challenge is that pets are not allowed everywhere, especially large pets.? Even if your dog is more well-behaved than some humans, he or she will always have more restrictions when it comes to temporary housing.

There?s a lot to consider when creating your pet?s emergency response plan, but it?s not an impossible task. Here are some tips to help you along the way and give you peace of mind that your furry friends will be ready if a monster storm hits.

Start Training: One problem I ran into was that my dogs were never trained to handle situations during a disaster.? One of the most important things you can do for your pet is to crate train them.? In a disaster, you may have to evacuate and your pet may have to endure long hours in a vehicle. ?Your pet may also be required to stay in a crate once you get to a shelter.? To help reduce stress, start crate training as soon as you can.

Get Microchipped and Update Tags: If you and your pet are ever separated, a microchip is the best way to ensure that you will be contacted if your pet is found.?? It?s also important to make sure your pet has updated tags.? Get a personalized name tag with their name, your name, phone number and address engraved on it.? Make sure that you also attach their updated rabies tag with their new name tag.

Get a Rescue Alert Sticker: You should never leave your pet at home during a hurricane.? If for some reason you are not home when it happens, you should have a rescue sticker on your front door.? The rescue sticker lets rescue workers know if there are pets in the home.? To get a free emergency pet alert sticker, visit ASPCA and fill out their online form.

Update Shots: The announcement of a storm is not the time to make sure your pet?s shot records are up-to-date.? Make sure your pet?s vaccinations are up-to-date well before the threat.? Have copies of your pet?s vaccination records readily available.? Most shelters will require you to provide them before admitting your pet.

Pet Hurricane Kit:? No matter what type of pet you have whether it be a lizard, dog or cat, you need to have a hurricane kit ready for them.? Here are a few items your pet may need:

-Leash

-Carrier or cage

-At least one week?s supply of food?(Don?t forget a can opener if your pet eats canned food or just use pop-top canned food.)

-Food and water bowls

-Any medications

-Specific care instructions

-Newspapers and plastic trash bags for handling waste

-Disposable litter trays and pads

Arrange a Safe Place: ?If your home is not safe for you, then it is NOT safe for your pet.? Make a plan outlining where you can take your pets.? Not all shelters allow animals, so start your research now to find safe places for your pet. Consulting your veterinarian, contacting local shelters, conducting internet searches for pet-friendly hotels and calling on friends and loved ones to care for your pets in an emergency are all great ways to ensure your pets safety before a storm.

If you are not evacuating, figure out the best place for you and your pets to stay in your home when storm hits. ?If your safe room isn?t a place your pets normally spend a lot of time, be sure to bring them into the designated area before an emergency so they can get used to it. ?Also, make sure there is no way for your pets to escape the room and have your hurricane emergency response kit and supplies already in the room.

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Disclaimer: The appearance of hyperlinks does not constitute endorsement by the Department of Defense of this website or the information, products or services contained therein. For other than authorized activities such as military exchanges and Morale, Welfare and Recreation sites, the Department of Defense does not exercise any editorial control over the information you may find at these locations. Such links are provided consistent with the stated purpose of this DoD website.

Check out these other posts:

Source: http://www.dodlive.mil/index.php/2013/06/preparing-your-pets-for-hurricane-season/

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Widening trade gap offers mixed signals on economy

By Lucia Mutikani

WASHINGTON (Reuters) - Trade deficit widened in April as a rise in imports offset a rebound in exports, suggesting trade could drag on growth in the second quarter even as demand holds up.

The Commerce Department said on Tuesday the trade gap increased to $40.3 billion from $37.1 billion in March. That was less than economists' expectations for a rise to $41.0 billion.

When adjusted for inflation, the shortfall on the trade balance increased to $47.6 billion from $44.6 billion in March.

While the so-called real trade deficit was not as large as some economists had anticipated, it still suggested that trade would not be of much help to gross domestic product this quarter.

"We ended the (first) quarter on a fairly good footing, but if you think the U.S. economy is going to outperform the rest of the world, then our import demand will grow at a faster pace than export activity," said Millan Mulraine, a senior economist at TD Securities in New York.

The more heavily U.S. business and consumers turn to foreign products, the bigger the bite out of domestic production.

The data prompted some economists to trim their second-quarter GDP estimates. Macroeconomic Advisers pared its estimate by two-tenths of a percentage point to a 1.2 percent annual rate, while Morgan Stanley economists cut theirs to 1.4 percent from 1.6 percent.

RESILIENT DOMESTIC DEMAND

The three-month moving average of the trade deficit, which irons out month-to-month volatility, slipped to $40.42 billion in the three months to April from $41.22 billion in the prior period. That was the smallest gap since December 2010.

U.S. financial markets were little moved by the data, with investors awaiting a report on May employment on Friday for fresh clues on when the Federal Reserve might start scaling back its expansive monetary stimulus.

Despite a widening in the trade deficit in April, details of the report offered some good news for an economy that hit a speed bump as higher taxes and government spending took hold.

In April, imports of goods and services increased 2.4 percent to $227.7 billion. The snap-back in imports, driven mostly by capital goods and automobiles, pointed to resilience in domestic demand.

While imports rose, the petroleum bill was the lowest since November 2010. This is a positive development for the energy-dependent economy.

"The domestic energy renaissance continues to reduce America's energy dependence," said Guy Berger, an economist at RBS in Stamford, Connecticut. Berger noted that the three-month moving average of the inflation-adjusted petroleum trade deficit in April was the smallest on record.

Record increases in exports of consumer goods and automobiles and parts pushed overall exports up by 1.2 percent to $187.4 billion in April, the second highest on record.

Strong export growth helped lift the economy out of the 2007-09 recession, but momentum has waned in recent months against the backdrop of slowing global demand, especially in China and recession-hit Europe.

"Softer global growth, from Europe to China to Latin America, has restricted demand for U.S. manufacturers and resulted in a broadly sideways trend for exports," said Andrew Grantham, an economist at CIBC World Markets in Toronto.

"With Europe remaining in recession and growth in other parts of the world still soft, we don't expect April's advance to turn into a sustained pick-up at this stage."

Economists also expect export growth to slow as the lagged effects of dollar strength earlier in the year kick in. A stronger dollar makes U.S. goods more expensive to foreign buyers.

In April, U.S. exports to the 27-nation European Union fell 7.9 percent. Exports to the EU in the first four months of 2013 were down 7.4 percent compared to the same period in 2012.

Exports to the United Kingdom were the lowest since May 2009, while those to China declined 4.7 percent.

China has been one of the fastest growing markets for U.S. goods, and exports to that country were up 4.8 percent for the first four months of 2013.

Imports from China surged 21.2 percent, lifting the contentious U.S. trade deficit with China to $24.1 billion from $17.9 billion in March.

(Editing by Andrea Ricci and Tim Ahmann)

Source: http://news.yahoo.com/trade-deficit-rises-weak-petroleum-curbs-imports-123543591.html

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