The U.S. economy added 243,000 jobs in January; Susan G. Komen has overturned its decision to cut funding for Planned Parenthood; the S.E.C has been giving passes to financial companies; the Senate passes an insider-trading ban; two Americans have been kidnapped in Egypt; and it seems Romney has already won Nevada. Meanwhile, HTC has admitted to covering up a security flaw in its phones for five months; Roseanne Barr is running for president; and Qatar pays the highest price ever for a work of art.
CRUCIAL:
S.E.C. Is Avoiding Tough Sanctions for Large Banks, http://nyti.ms/xbpJBX
The New York Times is reporting that the Securities and Exchange Commission has been letting Wall Street Firms off where punishments for fraud cases would apply. The Times discovered 350 instances in the last 10 years where the S.E.C has given large financial companies like JP Morgan Chase, Goldman Sachs, and Bank of America advantages reserved for reliable companies instead of penalties for their fraudulent financial reports. For example, JP Morgan Chase has settled six fraud cases in the past 13 years and has received 22 waivers. Bank of America has settled 15 fraud cases and has obtained at least 39 waivers.
2 Americans kidnapped in Egypt, officials say, http://bit.ly/whohGc
Two American tourists and their guide have been kidnapped after gunmen bombarded their minivan near a popular Red Sea resort. The kidnappers drove off in a sedan and pick up truck and left behind three passengers who were also in the minivan. No one has taken responsibility for the crime. Egypt has seen an increase in violence since Hosni Mubarak was ousted.
Senate Passes Insider-Trading Ban, http://on.wsj.com/z4xRA0
The Senate passed a bill making it illegal for lawmakers to partake in insider trading after the media highlighted that politicians are not prohibited from using stock tip-offs they pick up within Congress. The House actually passed the bill in 2006, but it was rejected by the Senate. The Senate passed it yesterday with a 96-3 vote in what some say is an attempt to boost its approval rating.
Decrease in U.S. Jobless Rate, http://1.usa.gov/4zoS3A
The U.S. economy created 243,000 non-farm jobs in January, up from a 200,000 increase in December. As a result, the unemployment rate has dropped from 8.5% to 8.3%. The private sector added 257,000 jobs while the public sector had to cut 14,000. In response to the good news, European stocks hit a six-month high. Meanwhile, Canada only added 2,300 jobs in January when economists estimated an addition of 22,000.
(via POLITICO) Susan G. Komen for the Cure is backing down from its decision to cut off grants to Planned Parenthood. “We will continue to fund existing grants, including those of Planned Parenthood, and preserve their eligibility to apply for future grants, while maintaining the ability of our affiliates to make funding decisions that meet the needs of their communities,” the charity says in a statement. “It is our hope and we believe it is time for everyone involved to pause, slow down and reflect on how grants can most effectively and directly be administered without controversies that hurt the cause of women. We urge everyone who has participated in this conversation across the country over the last few days to help us move past this issue. We do not want our mission marred or affected by politics – anyone’s politics.”
Romney Headed for Blow Out Win in Nevada, http://bit.ly/wQJq3l
According to Public Policy Polling, Mitt Romney will most likely win Nevada with 50% of the vote. The poll shows Newt Gingrich capturing 25% with Ron Paul in third place and Rick Santorum in fourth. The poll explains that Nevada voters don’t just like Romney more, they actually dislike Newt Gingrich; 49% have a negative view of him. “That’s an indication that GOP voters might be starting to sour on him again, sending his numbers back to pre-South Carolina levels,” says Public Policy Polling.
HTC acknowledges long-running WiFi security flaw, says it deliberately kept it quiet, http://engt.co/y7GgIs
HTC has admitted that it has been covering up a wi-fi security flaw in its Thunderbolt, Desire HD, and EVO 4G phones that researchers told the company about as early as last September. HTC customers will be able to fix their phones with a manual update next week.
CULTURAL:
Qatar Purchases Cézanne’s The Card Players for More Than $250 Million, Highest Price Ever for a Work of Art, http://vnty.fr/ABqVc9
Roseanne Barr seeks Green Party presidential nod, http://apne.ws/wr1F7K
Nick Carter Dedicates a Song to His Sister at New York Concert, http://bit.ly/xIrU7U
Madonna Goes Old-School In ‘Give Me All Your Luvin’ ‘ Video, http://on.mtv.com/yJqTBn
Bruce Willis, Ashton Kutcher visit recovering Demi Moore, report says, http://fxn.ws/zMp4nd
