Newsmaker: James Murdoch faces more great test as heir to the empire

Chairman of BSkyB James Murdoch, who is also head of News Corp in Europe and Asia, repetition, for James MacTaggert Memorial Conference in Media Guardian Edinburgh International TV Festival in Edinburgh, Scotland, August 28, 2009.

Credit: Reuters/David MoirBy Kate Holton

LONDON | SAT July 9, 2011 3: 00 pm EDT

London (Reuters) - James Murdoch was not responsible for telephone hacking scandal that engulfed media empire from his father, but which will matter little if his handling of the case does not improve quickly.

Tipped as the heir to the empire, son of Rupert Murdoch is under pressure to show that it can bring political touch of his father to contain the scandal which is overwhelming the family name and slashing the value of the assets of media daily that for decades in the business.

So far, analysts say it has been slow to realize the enormity of the situation, or to show real humility during an episode in which his journals have been seen to harass the families of child murder victims, fallen soldiers and victims of bombings, all to generate stories.

"It is the most serious political crisis in a generation (for the Murdoch) - but as a crisis of the business, it is immense and immensely more important," said Claire Enders, head of the research group Enders Analysis."

At the time that James Murdoch took over the British International News, News Corp. stable, newspaper in 2007, alleged piracy practices were above, but scandal had hardly begun, and it fell to Murdoch this week to close the document to 168 years in the Centre of the scandal of.

At the heart of the problem, Enders, said, is a sense that, after years of brandishing a curious influence on British politics, James Murdoch and the rest of his company do not know how to handle a situation where they are in error.

"Siege mentality is simply not right", she said. "They got to accept that other people in the world have something to say. But this is simply not a personality trait, it has ever seen them.

"Their attitude is"we are better, we are different", and I fear the word"better"is no longer to apply if these allegations are proven."

HIP HOP RECORD LABEL

Born in 1972, James Murdoch fell of Harvard in 1995to early, a hip-hop music label and once billed itself as a professional cartoonist. Then a few could tip him to exceed his siblings seniors to present online to inherit from News Corp.

Only 12 years later, he took control of the Asian and European of News Corp, which exerts an influence from Hollywood to Hong Kong and has not only paper of best sale of Great Britain, the Sun, but also studios 20th Century Fox, Fox, television Star TV network American cable network, Publisher Harper Collins and the Wall Street Journal.

If it can be an empire building capacity consumed Rupert Murdoch in the long term is yet to see, but James has already shown signs of sharing optimistic approach to his 80-year old father.

Smart and blissful, James is capable of charming interviewers and the public, but inspires fear among many of those who work for him. He maintains a model of the Star Wars wicked Darth Vader outside his Office in London.

"When James was in the building, you could almost hear the music of Darth Vader," said a former Chief Editor of News International.

"He came through his TV interview this week as a nice guy, thoughtful." And it is possible that. "But it is a scary around the Office," said the editor in Chief, who refused to be named.

When the business of Internet of News Corp was founded in the early days of the bubble, James became President. But as the boom became bust, he moved to Hong Kong Star TV base before becoming the CEO of BSkyB in 2003.

This move was initially encountered accusations of nepotism, but he impressed quickly analysts and investors by expanding the company of a paying pure offering broadband and telephony. But as his father, the younger Murdoch has courted controversy. It was a storm in August 2009, when he used a speech at a large festival of television to an overwhelming attack on owned broadcaster Britain, the BBC, echoing speeches Rupert of the father of the same platform 20 years earlier.

James was promoted to run international business of News Corp. of New York in March of this year, a move seen as a confirmation of its status as the heir of the media empire. But it is still not moved to London, where all her direct reports are based.

TV ON THE WRITTEN PRESS

The younger Murdoch has always favoured most cost-effective weapons of television and entertainment company on the traditional print media on which his father founded the empire.

But anger popular and political growth on Messaging voice saga of piracy raised the chances of a delay in the approval of the Government for the submission of News Corp to buy the 61 per cent of BSkyB that it does not already have.

Government of center-right Prime Minister David Cameron had already given informal blessing to the takeover, despite criticism that he gave Murdoch too to media.

Before that the controversy is compounded, formal approval was expected a few weeks. However, a decision now seems to take months. "James Murdoch did not address the situation well." It has certainly did you, certainly by 2008, what was going on, "Peter Burden, the author of a book on the news of the world, stated to Reuters." "The problem is that they were all very faithful to the other, the Murdoch and their people", he said, in reference to the decision by the rear company Rebekah Brooks, a confidant and Chief Editor of the news of the world at the time many of the offences would have occurred.

"James did not grasp the enormity of the situation." A few months ago, he said "we have put in a box now and he is content", and of course he could not have been more wrong. »

Beyond the pure financial concerns, the Murdoch also appear also damaged their once untouchable position in British politics, where the leaders of the effusively openly political support from Rupert Murdoch.

Andy Coulson, former editor of the news of the world who left in January as a spokesman for Prime Minister David Cameron, was arrested Friday on the scandal.

"They do not understand that you cannot assume the kind of power, they have had in this country without actually behave as if you are part of the fabric," said Enders.

"And what it means, it is - if your employee is an employee of the Prime Minister, you have some responsibilities to that employee as a credit for the Prime Minister, and not a discredited." They do not have this connection. »

James Murdoch must show that he does.

(Editing by Kevin Liffey)

Lexus to lose the first luxury U.S. car market place

A name on a Lexus HS 250 h hybrid plate is seen at the Chicago Auto show on February 10, 2010.

Credit: Reuters/John GressBy Rick Popely

CHICAGO. SAT July 9, 2011 2: 11 am EDT

Toyota Motor Corp. (7203.T) to CHICAGO (Reuters) - Lexus brand will end its series of 11 years as the luxury brand top in the US market due to the loss of sales following the earthquake in the Japan and tsunami, said Mark Templin, Lexus Division General Manager.

Templin said sales in the United States Lexus fall 17% to about 190,000 vehicles in 2011.

The United States are the largest market for Lexus.

All the models Lexus, except the RX 350 crossover sport utility vehicle, are manufactured in the Japan.

Templin, has said the plant in Cambridge, Ontario, which makes the RX 350 will be back to full capacity in September.

Most of Japanese plants assemble the Lexus models have already returned full strength.

However, the RX 450 h hybrid SUV will be in full production until October. The hybrid is generally 15-20% of the sales of RX in the US market.

The United States the Lexus sales dropped 38% in June as traders failed to key products. At the end of the month, dealers were approximately half of their normal stock.

"June was at the bottom of the pit, and we turned the corner." We see the rest of the year is much better for us, "Templin said, speaking to journalists at a Lexus media event in Chicago."

Sales of Lexus dropped 18 percent in the first half of 2011 88,010 and German rivals BMW (ATM.)(DE) and Daimler AG (DAIGn.DE) has entered by Mercedes-Benz.

BMW sales increased by 13% to 113,705, and Mercedes-Benz rose by 7 per cent to 110,926. If the results of full year 2011 end as expected, it would be the first time that BMW has rewarded Lexus in the United States since 1997.

Contentée Templin the importance of the loss of the Crown in sales of luxury, and when asked if Lexus can regain first place in 2012, he said.

If we're no. 1 or not, I Don ' t care. We have never focused on that. Because someone else is selling more cars that we will we change our plan mid-year. »

SYNDROME OF BUICK?

Industry analyst Aaron Bragman of automotive Insight IHS said Friday the doldrums to Lexus goes further than the shortage of vehicles. It was suggested that Lexus may suffer stigma even as General Motors Co (GM.)(N) mark during the last decades Buick: car for the elderly.

Bragman said that it would be "a challenge" for Lexus reclaim No. 1 luxury sales in 2012, even with a production full because its range is not as appealing was once, and it relies heavily on the two models, the RX 350 and ES 350 sedan, a spin off of the Toyota Camry.

The RX so far this year represents 45% of sales to the Lexus United States and sedan ES 19 per cent.

"Such as Toyota, they have lost their momentum." They have a buyer of aging basic and many of their dealers are afraid, they become the next Buick. "Their new products have not resonated with younger buyers".

Age median buyer for Lexus is mid-1950s, and Templin said it was comfortable with that because it is a result of high fidelity.

The sportier models, as the sedan and hybrid sedan from CT attract young owners, said Templin.

(Edited by Bernie Woodall; editing by Carol Bishopric)

(This story has been corrected to display the name of hybrid model from Lexus RX 450 h.) Also adjusts citation to show that June was the "bottom of the hollow".)

Toys R Us IPO now expected in 2012: sources

The sign of the Toys R Us store is considered in a suburb of Denver, March 15, 2011.

Credit: Reuters/Rick Wilking

NEW YORK | Friday, July 8, 2011 11: 18 EDT

NEW YORK (Reuters) - the initial public offering of Toys R Us, the largest retailer of toys in the world, is now planned for 2012, two sources told Reuters.

The company filed for an IPO of 800 million dollars in May 2010. He was considered the public entry in the first half of 2011, but delayed its introduction on the stock market after sales of holiday tarnished. Later, it provided an introduction on the stock exchange in July.

In Toys R Us made by the U.S. Securities Exchange Commission process and review, so technically he could launch an IPO anytime he wants - but it is planned to postpone the offer until next year, one of the sources said.

The sources declined to be named as the information is not public. Toys R Us has refused to comment on.

(Reporting by Dhanya Skariachan and Clare Baldwin;) (Editing by Richard Chang)

China June import of lower growth in 20 months

An employee to work at the clothing of Lianfa of Yiwu Yiwu plant, Zhejiang province, June 8, 2011.

Credit: Reuters/Carlos BarriaBy Kevin Yao and Xu Wan

BEIJING. Sun July 10, 2011 5 pm EDT

BEIJING (Reuters) - import growth fall China clearly in its slower rate in 20 months in June in a further proof of the broad impact of monetary tightening on the economy, while a large trade surplus has suggested that capital remain a challenge for the authorities.

The sharp decline in growth in June imports, which fell at an annual rate of 19.3% to 28.4% in May, is related to the concerns of the investor on how quickly the world's second economy slows.

But, one day after data showed June inflation reached a peak of 3 years, analysts took the jump in the trade surplus as a sign that China may have to raise rates further, to rein in prices and to combat the influx of capital.

"The trade surplus rose in June," said Liu Li-Gang, an economist with ANZ. "Us would interpret this means moderation of export and import growth is not large enough to prevent the Government tighten still."

"The large trade surplus means that PBOC will continue to experience of large capital inflows." "It will have this problem of inflow, it is unlikely that they will pause during monetary policy".

A series of indicators in recent weeks have pointed to a moderation in the pace intoxicating investigations Manager of the new controls the export of Taiwan to the Mainland of the growth of China, the purchase.

Bank of China has yet clearly inflation remains a political priority. Most analysts agree that growth resulting from this policy mix will be slower that double-digit rate close to the course of the last few years, but it is little risk of a forced landing.

The Government is due to announce second-quarter economic growth data on Wednesday.

"Imports were below expectations," said David Cohen, Economist at the economy of the Action at Singapore. "We are seeing perhaps a reflection of the loss of momentum to the growth of China." After all, he has led a tightening of policy.

"The numbers are consistent with the slowdown in growth, with the soft landing that many people are looking for."

Last week, the Central Bank raised the interest rate for the third time this year, underlying the confidence of the Government in the economy's capacity to cope with a more restrictive monetary policy.

Sunday data showed June exports rose 17.9% a year ago, slowing a rise of 19.4% in May and pointing to the weakness of overseas demand saw exports and soften new commands in most of Asia.

Exports reached a record of 162 billion in June, while imports for the month were $ 139.7 billion. Who left the country with a trade surplus of 22.3 billion in June, compared to 13.1 billion in May.

The median forecast of economists surveyed by Reuters had exports increase imports increase of 25.0%, resulting in a trade surplus of $ 16.3 billion and 18.7%.

On a basis adjusted to the calendar, expanded exports 16.4% in June of the previous year, while imports jumped 19.2%, said Customs Agency.

Exports rose 3.1 percent in June from may, while imports fell by 3 per cent the month. On a basis adjusted to the calendar, June exports reached 4.2% in may, while imports fell by 2.6% in May.

ENTRANCE TO BREAK POLICY?

China's inflation data have become his most closely watched indicator in recent months as investors look for signs that Beijing is about to change his political position after nine months of constant tightening.

This index for June rose 6.4% a year earlier, slightly above the forecasts of economists for a 6.3% increase, with sharp Monte saved in food, consumer goods and property.

What is worrying, there are signs that proliferated and may persist even if world commodity prices continue to decline in inflationary pressures. The prices of products non-food rose 3 percent in their largest jump since the beginning of the records in 2002.

Analysts are concerned that record prices of pork, a key factor in food inflation in China in recent months, are also likely to facilitate soon - an opinion shared by pork due to a shortage of pork producers.

China has raised rates five times since October, alongside nine increases the ratio of reserve requirement for banks. Many economists believe that Beijing has already fired shot preventive inflation and is near the end of the hardening of the policy.

Indeed, China's stock market has increased and swaps on Earth were priced too more and more in chances reaching rate policy.

A slim majority of analysts interviewed by Reuters this week think that China could raise rates again this year before pat permanent until June 2012.

REBALANCING

At the same time, Beijing has repeatedly promised to restructure its economy to reduce its dependence on exports and investment and the promotion of domestic consumption in their place. As a result, growth in imports has become a bellwether for the strength of Chinese demand.

A slowdown in the growth of exports from China had been planned in response to the slowdown in the US economy and growth in Asia and Europe factory slid to last down in June.

"For the second half of the year, we plan to continue to fall because of the impact of the crisis of European debt, earthquake of the Japan and other factors, the exports", said Tang Jianwei, Economist at the Bank of Communications Shanghai.

The June surplus was the highest in seven months. China trade surpluses have fueled criticism of the partners key commercial who accuse Beijing to give its exporters an unfair boost with a currency many walks.

Despite the more recent data, the surplus commercial from China is on track close to a third consecutive year of 183 billion last year that the Government is trying to rebalance the economy for domestic consumption, based on exports of cut.

"The trade surplus will be maintained in the second half of the year, but domestic demand is still relatively strong." "If we expect a surplus for the year of $ 100 billion," said Tang.

(Other reports by Zhang Shengnan;) (Editing by Ken wills and Vidya Ranganathan)

Pork prices drive inflation in China - CNN

Chinese farmers save their pigs in flood waters after heavy rains hit the northeast of China in June. Last year, the price of pork emerged more than 50% in China.

NEW YORK (CNNMoney) - Think prices rising rapidly in the United States? Inflation goes even more wild pig in China.

China--a broad measure of consumer price index price pay for food, housing, clothing and other common expenses - showed prices rose 6.4% in the 12 months ending in June, the National Bureau of statistics China reported Saturday.

Which marks the fastest rate of inflation since July 2008 and an acceleration in the rate of 5.5% in May.

But unlike the United States, where inflation led mainly by an outbreak of gas prices, economists say China's inflation problem is due to soaring food prices place - namely, pork.

Food, which represents more than one-third of monthly expenses, rose 14.4% to a Chinese person of average year. Prices of meat and poultry are the worst offender in this category, breaking an exorbitant sum 32.3%. Pork prices have increased to 57.1%.

Mark Williams, Senior Economist of China for the economy of the capital, estimates of pork prices only contribute as much as 2 percentage points at the rate of overall inflation in June.

The price of retail of pork has increased 15% over the past four weeks and it is now more than 50% level year - ago, he said in a note to investors.

"A decline in population of pigs of China at the end of the year is now resulting in an increase in the price of pork," he wrote.

That hurts the purchasing power of the Chinese consumers who buy pork, but it is also a good sign that inflation in China is not widespread, said Carl Weinberg, Chief Economist at high frequency economics.

"The price of food are the only thing that have increased substantially," he said. Who told me, that it is not a change in price as a whole. »

The Chinese Government has stated that one of its main economic goals tame inflation at a rate of 4% is for the next five years.

Weinberg and Williams, think that it will miss its target for this year, but the Government will be not too concerned. After the increase in interest rates three times year, including an increase in rates this week, an excess of credit is not the problem.

"Inflation is high not due to excessive loans, the rate of interest being too low, capital inflows or even a recovery in the demand," said Williams. "The increased inflation is simply the result of a cyclical decline in power of pork will be reversed in time."

As for Chinese exports to the United States, Weinberg, said not to worry - rapid rise in food prices is not likely to have a major impact on the export price.

"We want not see an increase in the price of T-shirts in Wal-Mart or iPads at the Apple Store due to inflation in China," he said.

Helena Hong-CNN Beijing contributed to this report

Low numbers of jobs U.S. hit stocks (AP)

LONDON - much lower than expected figures of employment tumbling Friday sent U.S. investors worried that stocks the US economic recovery was grinding to an end.

Statistics of the Department work came under the most conservative and fairly dismal numbers may lower estimates. The US economy added just 18,000 jobs in June, way below the expectations of the market at least 125. The weakness is particularly surprising buoyancy of the private firm ADP payroll report earlier this week.

There was even more disappointed by the news that the may increase has fallen by half more than 25 000 and the unemployment rate rose to 9.2% to 9.1%.

"With U.S. employers adding fewer new jobs in June that the median forecast had planned it is hardly surprising that American and European stock markets register anything other than sharp falls," said Howard Wheeldon, strategist than BGC partners.

The health of the US labor market is crucial for the world economy and announced Friday reinforced recent fears that performs the recovery of the steam.

These fears hit stocks and the dollar hard.

In Europe, CAC-40 the 1.1 percent to 3,935 dragged France and the Germany DAX fell 0.5% to 7,432. The index FTSE of the leading British shares lost 0.7 per cent to 6,013.

Wall Street opened down strongly on the news after strong gains the previous day. The Dow Jones industrial average lost 0.9% at 12,612, while the broader S & P 500 index fell 1 percent to 1,340.

Following the news, the euro recovered some of its earlier against dollars losses, as investors fretted about the State of the economy their venerate yet and reassessed the expectations of how long the US Federal Reserve will keep interest rates low record levels.

"The continuation of the economic soft patch will cause the Federal Reserve to postpone its exit strategy," said Sung won Sohn of California State University.

The currency used by the 17-nation euro zone has been reduced from 0.3% to $1,4322 in early afternoon.

Stocks earlier, Asian rode expectations that the United States would reveal figures which show that its economy was growing. Nikkei 225 Japan gained 0.7% to close at 10,138, while the Hang Seng in Hong Kong index added 0.9% to 22,726.

Chinese ?? actions were more cautious. The Shanghai Composite Index gained 0.1% to 2,797.77, while the Shenzhen Composite index was virtually flat at 1,201.50.

Oil for August delivery reference deleted almost all of its gains of the previous day, falling $1.52 to $97.15 US per barrel in electronic trade on the New York Mercantile Exchange.

Inventory of dive after that June dismal jobs report - BusinessWeek

By DANIEL WAGNER

Stocks are traded lower at noon after a dismal report on the work of stifled market hopes for an economic recovery fast.

The Ministry of labour, said only 18 000 jobs have been created in the United States last month, less than nine months. The full report hopes for a quick recovery after the economy collapsed this spring.

Traders sold stocks, erasing the gains of the week and in the relative safety of government bonds. Yield on the Treasury 10-year note fell to 3.02 percent of 3.19% before the publication of the jobs report.

Shortly before midday, the Dow Jones is down 109 or 0.9%, at 12,611. The & S P 500 is 15 or 1.1 percent, to 1,339. The Nasdaq has lost 30, or 1 percent, at 2,843.

Poll: Dealers expect unemployment to relieve by ' 12

People fill out application forms for work at a job in Los Angeles, California, fair on October 13, 2010.

Credit: Reuters/Lucy NicholsonBy Chris Reese

NEW YORK | Friday, July 8, 2011 7: 00 pm EDT

NEW YORK (Reuters) - economists to financial institutions of first expect us unemployment in the fall of 2011 and 2012, despite a jobs report surprisingly low Friday, a Reuters poll found Friday.

Although economists of primary dealers claim unemployment to remain at historically high until 2012, they attribute that a probability of 20 per cent of the commitment of the Federal Reserve another program of revival of treasures purchases over the next two years, the survey.

Most economists to primary dealers - 20 large financial institutions that do business directly with the Fed - expect stubbornly high unemployment will contribute to the Central Bank of U.S. held official rate of interest at the current level close to zero by the first half of next year.

The poll was conducted after Friday, the Government stated that the unemployment rate increased to a maximum of six months from 9.2% in June, while non-farm payrolls increased by a mere 18,000 last month.

The growth of the tarnished jobs surprised most economists, such as the median of the forecast of growth of more than 90 000.

"It is a quite sounded result false, especially on the back of a low can report," said Omair Sharif, American economist with RBS Securities in Stamford. "But we know that a number of data sets will improve in the third quarter, especially with regard to the plant with car production sector and so on."

"There is evidence that things have started to search for in the second half of June"Sharif told."."

In Friday's survey, the median of forecasts of 14 of the 18 economists who responded to the principal dealer survey was for the rate of us unemployment dipping to 8.7% at the end of 2011.

The median of 17 of the dealers forecast was for a dip further to 8.4% in 2012, while the median of 18 of the dealers was 8.1% at the end of 2012.

Does are not all economists who responded to the survey responded to questions.

"We have not adjusted our prospects for the future monetary policy, noting (June pay) may be linked to transient factors, and will continue to monitor the data throughout the summer season prior to the change of expectations," said Justin Lederer, analyst with the Council of the Treasury of Cantor Fitzgerald in New York.

The median of forecasts of 16 dealers gave a 20 percent chance the Fed will make recovery program of the type "IS3" over the next two years. That compares with a median of 10 percent in a similar poll June 3.

Program of the Fed for Treasury purchases latest $ 600 billion, nicknamed of2, last weekend.

13 Of 18 primary dealers who responded to the survey expect the fed to hold official interest rates steady at the current range of zero to 0.25% through the first half of 2012. A survey conducted on June 22 has produced similar results, with 14 of 19 dealers require the Fed to keep rates hold through the first half of next year.

Payroll data Friday "offers more support for the view that the Fed will be waiting for a long time," said Dean Maki, Chief Economist for Barclays Capital in New York.

(Other reports by Emily Flitter and Pam Niimi;) Mounting by)

Wells Fargo to pay 125 million dollars in mortgages adjust (AP)

NEW YORK--Wells Fargo & Co. agreed to pay $ 125 million to a group of pension funds and other investors to resolve the allegations, which the Bank failed to warn the risks of mortgage-backed securities poorly written and supported by investors.

The proposed regulations was filed Wednesday in Federal Court in California and represents instituted by Detroit pension funds, the County of Alameda, New Orleans, Guam and other plaintiffs. The regulation is subject to the approval of the Court.

Mortgage-backed securities have been sold by Wells Fargo in 2005 and 2006. Investors, stated in their complaint that in its bid to collect a fee, the denatured Bank and omitted details that show that the titles were supported by mortgages of poor quality sold to people without appropriate documentation. The Bank has denied any wrongdoing.

First Chicago fails, Wintrust resumed assets - Chicago Tribune

By the journalist from the rostrum of Becky Yerak 6: 18 p.m. CDT, July 8, 2011First Chicago Bank & Trust is not Friday and its deposits and assets were taken over by Lake Forest Wintrust Financial Corp.. Since April 2010, Wintrust, which has assets of $ 14.1 billion, has acquired six lenders to is collapsed with total assets of approximately $ 1.9 billion.

First Chicago is the fifth Bank of Illinois at the failure of this year.

First Chicago, which included 959 million dollars in assets at March 31, led by a regulatory review for more than a year. In April, he had fallen to the status of "significantly undercapitalized" and was given a deadline of early June to raise enough money to be regarded as "adequately capitalized." The Bank, whose main investor was a company private in California, sought to collect approximately $ 50 million.

The FDIC said that Northbrook Bank & Trust Co. will assume the deposits of first Chicago. Northbrook is the property of Wintrust.

Wintrust, who has already paid back the money that he borrowed pursuant to Troubled Asset Relief Program of the Department of the Treasury, was the most active recently picking up the banks with stranded in the Chicago area, their folding in the 15 community banks that it owns.

First Bank of Chicago is the product of two community banks in the Chicago area. In the fall of 2006, Bank Labe and Bloomingdale Bank and trust unite to create a bank with combined assets of more than 1 billion. December 11, 2006, the Bank officially became First Chicago Bank & Trust and the holding company becomes first Bancorp in Chicago.

It is not clear if the name of first Chicago will become available again. A previous first Chicago was bought by Chase.

Does not this year in Illinois: Western Springs National Bank & Trust, Bank of Commerce, the Community Bank Valley and community first Bank Chicago.

According to its Web site, first Chicago has three locations in Chicago and Norridge, Park Ridge, Itasca and Bloomingdale.

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J & J went on sale deal for oral cancer product

n "> (Reuters) - J & J (JNJ.)"(N) is pursued by a company called oral International Cancer Prevention who has supported major drug "Edit" with a contract of sale related to the distribution of a product of oral cancer prevention to protect sales of its popular mouthwashes, Listerine, according to court documents.

The complaint accuses J & J on three counts: fraud, tortuous interference with contract and civil conspiracy. It aims to at least 60 million dollars in damages and at least $ 10 million in damages punitive on each of the three counts.

The trial is on a contract that oral Cancer Prevention signed in February 2010 with the former J & J unit, OraPharma Inc., whereby OraPharma distributed exclusively oral CDx brush Test of OPIC, which identifies precancerous cells in the mouth.

The complaint said that j & J is concerned a study published in Australia connecting mouthwash with a cancer high alcohol content, adding that J & J did not "give faith to the link between Listerine and cancer of the mouth" by selling his mouthwash and the OralCDx.

"Johnson & Johnson induced by OraPharma break the contract of sale to suppress sales of deny the public a product of oral cancer prevention proven life-saving", said the complaint filed on July 6.

The prosecution was filed before the Federal Court in Trenton, New Jersey.

"The company believes that we have engaged in proper business practices and we look forward to the opportunity to settle this matter through the legal system", J & J Bill Price spokesman told Reuters.

OraPharma could not be reached immediately for comment.

The case is oral Cancer Prevention v. Johnson & Johnson and Johnson & Johnson Consumer SOC, 11-cv-03878, the United States District Court, District of New Jersey (Trenton).

(Reporting by Mihir Dalal in Bangalore; editing by Carol Bishopric)

Spanish mortgage nightmare of debt for refractory facial (AP)

ALCALA DE HENARES, Spain - Inma Rodr?guez lost his job, and now that it breached his mortgage, it is subject to lose her house. But the nightmare does not end there: that once creditors kick her out, she will have to repay money it borrowed to buy his house.

This is an anomaly of mortgage view in much of Europe, but particularly acute these days in Spain, a country struggling with an economic crisis caused by the collapse of the housing bubble. Since the accident of property in 2008, more than 300 000 have been affected by the potential double-whammy of eviction and the mounds of mortgage debt.

"Having difficulty, so much so," said Rodriguez, choking that she looks at the ceiling of the House where she lived for 30 years and two children.

Under the terms of his contract, Rodriguez will probably pay about half of its confirmed, the debt banking, 000-plus ($ 290,000), and the costs of justice and penalties after she left - in striking contrast with the United States, where refractories can return the key of the Bank and out of their debt.

Refractories are a small minority in Spain - 98% of mortgage holders are up to date on payments. But their fate is generates a wave of solidarity as soars record unemployment skyrocketed: when an eviction seems imminent, the demonstrators gather often hundreds outside the property to try to block.

In rallies, demonstrators formed a human cushion and physically prevent the clerks and officials of the Bank with a locksmith in tow to eject residents. The association behind the protests succeeded about 50 times since 2009, although finally just the inevitable delays.

Last week, the Government adopted a decree aimed at resolving the fate of the debtors evicted. It protects more than their salary claimed by banks and changes the way that popular post-foreclosure such debt is calculated to try to trim it.

If the Bank manages to sell a House barred, this amount is struck off the remaining debt. But these days, the standard is that the property is put on sale at auction and to tender. Who has served the Bank takes in charge the House for only half of its value tax originally then erases the amount of debt rest - leaving the borrower still owed a bundle. The legislation adopted last week raises the proportion that the Bank must perform effectively if non-vente to 60 percent.

The platform for the victims of the mortgage - the association directed by door rally - wants to Spain resulted in the American legislation of mortgage loans. But the Spanish Association of banks, which would destroy the system of the Spain, low mortgage interest rates: even now, as the loan-shy banks raise rates, they may be below 3%, with periods of repayment by as much as 40 years and no default mandatory mortgage insurance.

The result, it would be granting loans less, smaller and more expensive which are repayable in less time, which means almost 98% of mortgage holders who make their payments on time suffer them banks.

"Good payers would be those to be injured", he said.

But Rodriguez, a woman of household without use of 56 years, said that it had been victim of a system of Raptor willing to lend money. She says can barely read or write and gets confused in the thick gumbo from its financial difficulties, shared with her ex-husband.

Rodriguez and her husband Manuel, who worked as a painter and Carpenter, pulled a large second mortgage in 2006 to pay off debts, reshape their 3 bedroom apartment to sleep in this town outside Madrid and buy a new car and furniture.

"I know not what I was signing," Rodriguez said in a living room with empty shelves and a broken cuckoo, as three small Yorkshire terrier yapped at his heels.

Six months after the takeover of the mortgage, Rodriguez and her husband separated. Since then, she complains, he is not carved in a penny to the euro1, 000 - more a mortgage payment of months. It did not work almost two-and-half years, and even if it did, it gets euro500 just one month.

"They were so easy." So easy, "Rodriguez told the credit." "If we had not purchased anything or done any, us would not owe anything today.".

Flat employment data report lower recovery in decades - nwitimes.com

The labour market is defying history.

A dismal June employment report shows that employers are adding away as many jobs as they normally it long after a recession is over.

Unemployment rose for three months straight and is now to 9.2%. It is unprecedented in the data dating back to 1948, such a high rate two years in what economists say is a recovery.

The economy added just 18,000 jobs in June. It is a fraction of the 90,000 jobs economists expected and a brightness of 300 000 jobs needed each month to reduce unemployment significantly.

The extraordinarily slow growth is confounding economists, spooking consumers and appalling of job-seekers. Report Friday forced analysts to review their hypothesis that the economy will strengthen in the second half of 2011.

They expected improvement in June, after a dark may jobs report. They found that hiring in May had been artificially weakened by temporary factors _ an increase in the price of gasoline at $4 a gallon and manufactures disturbances caused by the earthquake of the Japan and the nuclear crisis.

But the June numbers were worse than may, even if prices of gasoline is falling and the mills of the new fact.

"This is a remarkable, transverse backslide,"Economist Heidi Shierholz at the Institute of economic policy.""

Sometimes disappointing economic reports no longer seems on closer. It gets uglier.

Hourly workers fell in June. They worked fewer hours. 16.2% Of those who wanted to work were either unemployed, forced to settle for part-time jobs or had given up looking for work. This figure increased by 15.8% in May.

The frustrated is Cree Cohen, who was laid off in April for a job as a contractor for Cisco Systems in Raleigh, N.C. He sought work since then, vain comb job offers, join the friends and set up a Web site with a curriculum vitae and a blog.

"In the past, when I left the job or been laid off, I contacted just of connections I had, and leads to opportunities," said Cohen, who has a wife and a 9-year-old son. "" "". Now, it just seems much more dry.... There are just always this feeling anxious, that nausea. »

A problem is that after slashing jobs during the great recession, employers are still reluctant to replace them. They have learned to squeeze more work and staffs reduced income. Productivity and corporate profits have soared. But companies do not want to add workers until they are convinced that consumers will spend enough to support sales.

Other factors are preventing hiring, too. More advanced software allows managers examine the changes in their business minute by minute. They can delay hiring until they are certain that they need more workers.

Employers have good reasons to wait, said economist Ken Mayland of ClearView Economics. A political stalemate over the federal debt limit threatens to send the Government of the United States default next month. That would send to the increase in interest rates and could tip the economy into recession.

Even if the Barack Obama President and Republican Congress agreed to raise the debt limit, the transaction will probably need deep reductions in government spending and possibly tax increases. Combined, these steps could slow the economy again.

The economy has already lost 493.000 jobs in the Government since the end of the recession, most of them removed by the counties and the cities of cash-short. Now he is liable to large cuts by the Federal Government, too.

Heightening uncertainty is the debt crisis in Europe and the possibility that the China's efforts to tame inflation will slow its booming economy. These two factors could destabilize financial markets and reduce us exports, one of the forces little economy.

"Why an employer would hire now?". Mayland, said. "It is hunker down and wait and see."

The Federal Reserve has already reduced interest rates in the short term to near zero. And last month, has completed a program for the purchase of Treasury bills aimed at strengthening the economy.

Congress, pointing to budget deficits, taking account of spending taxpayers ' money to bring the economy with the new government programs.

"We have painted ourselves into a corner," said Mayland. "When you're at a rate of zero interest and a running $ 1.5 trillion deficit, you don't really have many political options.".

Many analysts say that primarily, the economy needs time to recover from an implosion of the housing market and a devastating financial crisis.

Normally, housing and construction supply recovery. Lower interest rates would attract buyers in the market. The increased demand would encourage builders to hire construction workers packed new houses.

Not so this time. Real estate prices are continuing to fall as banks dump homes entered the market. The people have decreased.

The tepid recovery takes a toll on consumers, whose spending 70% of economic activity accounts. Last week, the Conference Board business group reported that its consumer confidence index fell to 58.5 in June. A healthy reading is 90. At this point, after three previous recessions, the index average of 87.

Low reading suggests consumers are wary about spending. That could leave even more prudent companies for hiring.

Businesses are nervous about the Economic Outlook, now that the Fed and Congress seem to have ended their efforts to stimulate growth, says David Rosenberg, Chief Economist at Gluskin Sheff + Associates.

"The Cabinet of the policy is quite simple, and we can see what looks like the Emperor stripped," Rosenberg said. "It is not a pretty picture."

___

AP Business Writers Christopher s. Rugaber and Derek Kravitz in Washington contributed to this report.

Recipe for a rally? Beat lowered estimates

The exterior of the New York Stock Exchange is seen in New York on May 13, 2011.

Credit: Reuters/Shannon StapletonBy Caroline Valetkevitch

NEW YORK | SAT July 9, 2011 1: 00 pm EDT

NEW YORK (Reuters) - Wall Street leaders in a typical game of the week next earnings season: worry many results and pleasant surprises rally then.

Analysts have been lowering estimates of the gains of the late and nervousness on the U.S. economic picture is abundant, especially after poor Friday June jobs report.

However, the profit growth might still be strong in the second quarter - and potentially increase stocks. The Standard & Poor 500.SPX fell 0.4% in the second quarter, but rallies in recent days on hopes for the improvement of economic conditions.

In the last month, analysts have revised downward their estimates of earnings for the S & P 500 companies, with the average change in the estimates of negative income 6.4 per cent, according to data from Thomson Reuters StarMine.

"I think that it is going to be lot of anxiety in it, and I think companies will continue what they have done for past quarters: put numbers better than expected and orientation should be OK," said Scott Billeaudeau, Portfolio Manager at fifth third Asset Management, in Minneapolis.

Compensation of S & P 500 components is expected to have increased by an average of 7.3% in the second quarter of last year, growth in the first quarter of 18.9%, Thomson Reuters data showed.

But the number could jump if most companies beat analysts forecasts. First estimates for growth of profits in the first quarter were about 13%.

"General economic data suggests some softness in the economy overall both globally and at the United States... which leads to realistic expectations a little more for businesses,", said Natalie Trunow, investment officer head of the shares of the investment management Calvert in Bethesda, Maryland, which manages about $ 14.8 billion.

In the coming week, the Federal Reserve will release of the minutes of its meeting of policymakers from 21 to 22 June. Among the United States of economic indicators in the tap are retail in June, June inflation readings of the US producer price index and the price to consumers at United States, industrial production and the use of the capacity for June and July preliminary reading in consumers of Thomson Reuters/University of Michigan surveys of consumers.

BANKS UNDER THE GUN

Financial services companies have seen more significant downward revisions in earnings estimates in the last 30 days, with banks taking some of the greatest success, including Goldman Sachs (GS.)(N) and Morgan Stanley (MS)(N).

JPMorgan Chase (JPM).(N) will be the first of the big banks to report, with results due Thursday. Results of player of high tech Google (GOOG).(O) also are expected Thursday, while aluminum company Alcoa (AA).(N) unofficially begins the season with earnings after the Bell Monday.

S & P.GSPF financial index fell by 6.3% in the second quarter as worries intensified about the impact of the debt problems of euro on the world economy area. The mean change for estimates of the earnings in the sector over the last 30 days is a 34.4% negative, StarMine data showed.

DISASTERS AND DISAPPOINTMENTS

Analysts also said following the earthquake of Japan, months of extraordinary weather conditions in the United States and increasing food and commodity prices took a toll on business in the second quarter.

StarMine analysis showed businesses, including the Platinum Underwriters Holdings (PTP.)(N), were likely to disappoint results due to tornado damage claims.

But companies have kept failure costs, which should support the stronger results, while also giving a hand actions, he said.

"I think that things in the macro, global, political noise continue to filter," said Mike Jackson, founder of the investment firm focused on the Denver T3 Equity Labs. But "you'll see high quality firms showing the (hand) last quarter surprises."

According to its own analysis, is expected to industry and public services to surprise upside, especially for the companies involved in "machines, and roads and rails" and electricity utilities.

On the flip side, he sees a high probability of earnings disappointments in the sectors of health care, consumer staples and materials.

An index of S & P.GSPA health care led gains in the S & P 500 in the first half of the year that the market has moved to defensive actions with the sector of the 14% increase since the beginning of the year, followed by an index energy of S & P.GSPE, an increase of 11%.

May health care sector subject to profit-taking once revenues start after his strong run so far this year, according to Tobias Levkovich, Chief U.S. equity strategist of Citigroup, which is developed in a research note.

Some analysts expect surprises to be less than in previous quarters, the percentage of companies beating expectations likely to be in the range of percentage of the mid-1960s, below the range of 70%, where he was in total.

S & P 500 total compensation could beat estimates by a "modest" 1 to 3%, Charles Blood, Brown Brothers Harriman senior market strategist, wrote in a research note.

"Margins generally occur in the second quarter, but our main concern and one of the largest investments debates, is,"how many room businesses have for improvement?"," wrote.

(Reports by Caroline Valetkevitch;) (Editing by Jan Paschal)

Detroit News reporter confirms the Tsar WH auto comment "I did all this to the unions", says it was a joke (calling daily)

The President Barack Obama auto bailout Czar Ron Bloom is under fire by the Monitoring Committee of House for a prounion comment he made in 2009.

In 2009, David Shepardson, reporter for The Detroit News, wrote that Bloom told a dinner audience "I did it for the unions." His testimony under oath a hearing June monitoring Subcommittee, however, Bloom denied making these comments.

Republican Rep. Dan Burton, Indiana, Bloom asked the comment. Bloom replied that it is not said. Thus, Burton asked him he thinks it was "wrong". Bloom said "it is true."

Burton said that he would call randomized and ask him if Bloom said and recalled Bloom, he was under oath. "I am fully aware," Bloom said.

In an e-mail message to the daily caller, randomized confirmed that Bloom made the remark, but that it was a joke. "Our history of 2009 was based on stories from first-hand several [sic] people who are present and said fact Bloom note joke," said randomized.

Burton and the Oversight Committee Chair Rep. Darrell Issa, a California Republican, wrote to the proliferation of end of last week offering him the opportunity to clarify his statements to the Commission. (Private e-mails detail Obama admin involvement in bailing out post-GM to cut non-unionized retreats)

Randomized broadcast is not the only place that Bloom was quoted as saying that. Wall Street figure and key rescue player Steven Rattner CITES Bloom by saying that he too in his book of September 2010.

Read more stories from the daily appellant

Detroit News reporter confirms the Tsar WH auto comment "I did all this to the unions", says that it was a joke

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Implementation of a national Mexican in violation of international law, says U.N.

Republicans reacted furiously to the new unemployment numbers

Maher: Republicans like Casey Anthony, electors GOP "let forgiven."

Pakistani militants kill six, attacking oil tanker of NATO (AFP)

PESHAWAR, Pakistan (AFP) - at least five people were killed when militants fired on two vehicles in the Northwest of Pakistan Saturday, while a NATO tanker driver was shot dead in the Southwest, officials said.

Five people died and 11 others were injured when militants fired on two vehicles in the Northwestern tribal area of Jawakai, some 50 kilometres (30 miles) of Peshawar, senior officer Sahibzada Mohammad Anis said AFP.

Regional police chief Mohammad Masood Khan Afridi confirmed the shooting and the death and said that it was "the work of activists." No there was no immediate claim of responsibility for the attack, in an area highly affected by a homegrown insurgency.

Separately, in southwestern Baluchistan province, gunmen on motorcycles shot and killed the driver of a tanker carrying fuel for the forces of NATO in nearby Afghanistan, Interior Minister Zafarullah Baloch told AFP.

The incident took place in the mountainous region of the Dasht, 40 kilometres (25 miles) Quetta, the provincial capital, when the vehicle is headed to the South of the Afghanistan in Kandahar province.

Baloch said the vaporized armed men shot on the tanker, causing fuel to leak, but it did not catch fire.

No group claimed responsibility for the attack, but the Taliban have in the past, said that she has carried out similar attacks to disrupt supplies to more than 130,000 led international troops fighting in Afghanistan.

Militants linked to Al-Qaida and the Taliban frequently launch attacks on the NATO supply vehicles in Southwest Pakistan and Northwest along the Afghanistan landlocked.

Most of the supplies and equipment required by foreign forces in Afghanistan are sent by Pakistan, although U.S. troops increasingly use alternative routes through Central Asia.

A year of turbulence, meaning the Mayor of the capital city NJ (AP)

TRENTON, New Jersey - as the first mayor of new poor capital of New Jersey in two decades, Tony Mack had his work done for him. The flourishing industrial city of Trenton is today better known for its problems - high taxes, crime, poverty and low performance - attributes schools and rich history.

But as his administration has shifted to another crisis in his first year, critics in the gritty City say that they have enough. While acknowledging that a recall effort is a long shot, they say that perhaps only shot of the city to survive.

Mack critics say he used the City Payroll as a personal piggy bank, hiring of friends not qualified for key positions and concentrating on minor projects such as parks and parades as the struggles of city with serious problems.

"The city is dying, and hope, I have that he is dying with this administration," said Advisor former municipal George Muschal, a city police officer who lived in South Ward of the Trenton most of his life. Muschal Mack originally backed-up, but now says that City Hall was damaged.

"It won't stop it until someone takes him in handcuffs or is removed by the recall," said Muschal.

Among the first Mack moves as Mayor of the city of 85 000 from the existing heads of Department, including a Deputy Clerk employed by the City Council but escorted from city by police.

The household has opened the door to the peaks of personnel of Mack, who quickly turned into a revolving door as a dozen people came and went. Some ran to the output; others have been evicted after the pressure has intensified over their credentials. And some on the left to face criminal charges.

He blew through a chain of administrators of the company. The first has resigned after a month, saying that the Mayor did not believe in "good government". Another has resigned just before pleading guilty of embezzlement on another job.

The Director of housing left after it was learned that he had conviction of theft. His Chief of staff was arrested while attempting to buy heroin. His half-brother, of which he was raised to town water plant, the authority was arrested for stealing. More recently, Director of law resigned after arguing with Mack conform with laws open-records and potential violations of laws banning city contracts to the big campaign donors.

"It would be fun if it were not so tragic," said Bill Guhl, first enterprise administrator of Mack, who had more than three decades of municipal government and the State experience and volunteered his time to helping the Mack in the transition.

Mack, who took office in July 2010, recognizes errors, but expressed optimism about getting things done in its second year after a steep learning curve in his first.

"I am concentrating on being the best Mayor, that I can be," he told Associated Press.

I Don ' t look things as absent. "I look at things like the experiences, learning", said 45-year old Mack, who has a master's degree in public policy from Fairleigh Dickinson University and who has spent most of his adult life working for the municipal government and as an elected county.

While New Jersey is among the richest States in the nation, Trenton is one of the poorest state capitals of the country, with about 20% of the population living below the poverty line. It ranks among the most dangerous cities in the country and has some of the scores of the State the lowest of the standardized test.

Trenton was once a major manufacturing hub for rubber and wire of ceramics and cigars, an achievement celebrated with a giant neon, "Trenton makes, the world takes," that is remained affixed to steel across the Delaware River Bridge even though the industry has disappeared.

And it has an important role in American history: Trenton was the first military victory in city of George Washington - represented in the painting "Washington crossing the delaware" - and briefly served as the capital of the United States in 1784.

Various efforts to stem its decline failed, attempt to rebuild the Mall after devastating race riots in 1968 for a submission by the State to stabilize the city by implementing a warren of new Government buildings.

Most large employer of the city is the State, and it has a large footprint; Square Mile 7.5 of the city, half are occupied by the State property. More than 22,000 employees floods in the city every day of the week and leave each night, mainly because there is little to keep them in the city.

Because, in New Jersey is small geographically, legislators can all drive home a few hours and do not have to stay in Trenton, unlike large States. Even the Palace of the Governor are two cities, tony Princeton.

"The capitals most of State are coveted by their legislatures," said Doug Palmer, the previous Mayor. "The problem is that the State has never watched Trenton as capital."

Personal history of Mack was also marked by unrest.

His house was placed in foreclosure several times since the entry into service, and at one point, he had taxes on a property owned and used for the campaign headquarters.

Questions were raised about how he funded his campaign. Asked about its finances at a press conference, journalists, he tried to have them removed from the room.

Remove Mack Office would be more difficult than electing; organizers have get 10,000 signatures by November 15 - only slightly less the 12,000 who voted in the mayoral runoff last year — before a new election can be organised.

Supporters say that he did his best with what he was - a 55 million budget hole, narrowing of the aid of State to fill and a municipal Council composed of first year students.

"Everyone in the town hall was new." We have stumbled, ", said the Council President Kathy McBride, a supporter of Mack." "But we need to move the city, not to point a finger an individual".

Mack said he is not worried about a recall, but a Stand by Tony Committee was formed to defend his record. He has recently announced that it comes from a self-published autobiography: "" twists in fate: life in Construction. ""

Spokesperson of the Committee stand by Tony Orlando the Santa argues Mack, but also concerns what happens if he was ousted: "there is no other true leaders to intensify its place should he remembers".

Debt negotiations: can a Deal be struck out? -ABC News

Before even that the President Obama could return to talks with the leaders of the Congress on the debt ceiling and the reduction of the deficit, Chairman of the House John Boehner from the CAP.

The talks are just some of the greatest political discussions since decades, but speaker Boehner, said Saturday night in a paper return that he is skeptical that an agreement could be found in a contract of $ 4 trillion.

"Despite the efforts of good faith to find common ground, the White House will not pursue a larger debt reduction agreement without these increases," Boehner said.

Instead of a large market as President Obama was hoping, Boehner said now that it focuses on the production of a smaller measure which "still responds to our call for spending reforms and cut more than the amount of any increase in debt limit.

Boehner said he wants to focus on a small contract of $ 2 trillion, as Vice President Joe Biden spoke with a bipartisan group before the participation of the President, as opposed to the $ 4 trillion deficit reductions agreement early today planned negotiations.

The White House issued a statement shortly after Boehner, stating that, while the President sees the tax issues of the country as imperative, the administration considers the demands by Republicans as an unfair burden on the middle class and the elderly.

"We cannot ask the bourgeoisie and the elderly all the burden of higher fees and budget cuts", White House Communications Director Dan Pfeiffer said Saturday night. "We need a balanced approach which seeks the very rich and special interests to pay their fair share as well and we believe that the American people agree.

While Boehner received pressure from tea party members, who are not willing to accept a compromise on the tax increase, the White House received rejection of Democrats wary of possible cuts to programs such as social security and Medicare.

Saturday night of the Boehner statement marked a major change in the tone around the negotiations of the debt, at a time when it seemed that a bipartisan agreement was imminent.

Contrary to his statement last night, Chairman Boehner hope Friday that an agreement could be struck.

"We hope that the Democratic counterparts will join us and take this opportunity to do something great for our economy, and frankly, for our future and to come back, I hope the Americans to work," Boehner said Friday.

After the bad Friday jobs report, which showed that the US economy has acquired only 18,000 new jobs in June, Boehner was not alone in calling for a compromise bipartisan cooperation. He was one of many leaders of the two parties.

President Obama called even negotiations an "extraordinary opportunity", saying that the American people expect both parties to work together to reach a compromise.

"The least they can expect from us, any more than they should expect," the President Obama said in remarks following Friday jobs report. "" "". I am ready to roll up my sleeves over the next several weeks and the months. I know that people in both parties are ready to do so. »

Despite the optimistic tone of the two parties, last week, it does not appear that the political disagreements will be resolved this weekend.

Pressure mounts on the Government of the United Kingdom to stop the Murdoch/BSkyB deal

Sky News logo is visible on the screens of television in an electrical store in Edinburgh, March 3, 2011.

Credit: Reuters/David Moir

LONDON | Sun July 10, 2011 7: 14 am EDT

London (Reuters) - Prime Minister David Cameron came under increasing pressure on Sunday to stop Rupert Murdoch's bid for the pay-TV operator BSkyB, at least until that an investigation into the hacking of telephone to newspapers of the media mogul has been completed.

Opposition leader Ed Miliband said that it require the issue to a parliamentary vote this week if Cameron did not.

"It must make clear that BSkyB could not move forward until that the investigation is complete," says Miliband programme Andrew Marr BBC.

"I hope that it changes its position on the issue." I don't want to have to force a vote. »

Pressure had too many members of the Government, the Liberal Democrats coalition junior partner, who are traditionally less cozy relationship with Murdoch.

Liberal leader Simon Hughes said he would be willing to back to work for the agreement is reserved and urged others to do the same - LibDems staged for a major test of the unity of the coalition.

Murdoch News Corp. (NWSA).(O), more great conglomerate of news of the world, made a 14 billion for 61 percent of the profitable pay-TV operator BSkyB (BSY.)(L) that it has not already.

Murdoch flew in London Sunday to try to save the agreement after a phone-hacking scandal has caused a public outcry and forced to close the news of the world, the first British book, he bought in 1969.

Cameron ordered an investigation by the judge on the allegations of telephone hacking but has resisted so far calls late attempt to Murdoch to buy back BSkyB.

Transport Secretary Philip Hammond said he understood the concerns of the public in the expansion of the Murdoch empire, but the Government had to operate within the law.

"The Government cannot simply change the rules mid-term." If we did we would probably taken to the Court and we would probably lose, "he told Sky News."

Previously, those who seek to know if the Murdoch should obtain the green light focused on the question of whether it gives him too much power on the media in Britain. News Corp also owns two dailies and another Sunday paper.

But the allegations of telephone hacking prompted the UK media regulator Ofcom said that it will examine if News Corp directors are "just and appropriate" people to run BSkyB.

BSkyB shares lose more than 7 percent Friday on the growing doubts that the agreement would go through.

(Statement by Christina Fincher, editing by Tim Pearce)

Widens the trade deficit for China - CNNMoney

In June, China has reported a trade surplus of $ 22.3 billion.

NEW YORK (CNNMoney)--China's trade surplus continues to grow in June, while the plant to export manufacturing sector slowed slightly.

China has a surplus of 22.3 billion in June, up to a surplus of 13.05 billion in may, General Administration of customs of China, said Saturday. A trade surplus occurs when a country's exports are more numerous than its imports.

China is the second largest economy in the world and the partner business number one in the United States.

But as the economic growth of China far exceeded the stagnation of the growth in the United States, it has tried to encourage domestic consumption more and less emphasis on exports.

Surging growth in exports to China, but recently it has slightly slowed. In June, exports totalled 162 billion, an increase of 17.9% year.

That marks a slight slowdown to a growth rate of 19.4% in May.

Meanwhile, imports increased at an annual rate of 19.3%, 139.7 billion in June.

Earlier this month, other government data showed slowed the manufacturing sector of China and new export orders declined in June.

Contrary to American popular belief, the comte exports a very small percentage of the overall economy of China, according to Carl Weinberg, Chief Economist for high frequency economics.

Rather, economic growth in China is more motivated by its rapid modernization, as its rural poor starts in its sprawling cities.

"Their trade balance is quite good darn and is going to remain healthy, but trade is not as important to the economy that we believe it is, he said." With 900 million people left on farms to move to the cities, it is what is happening to stimulate growth. »

China said Friday that in June consumer prices rose 6.4% over last year, mainly to the high prices of pork and other foods.

China should also report its second product domestic crude quarter figures Wednesday. Its economy grew at an annualized rate of 9.7% in the first quarter.

Helena Hong-CNN Beijing contributed to this report

First published: 9 July 2011: 11 pm et