Apple's market value hits $600bn
Technology giant Apple has surpassed $600bn (£379bn) in value for the first time, affirming its position as the most valuable US firm in the world.
Apple shares reached a high of $644 on Tuesday, having only just crossed the $500 threshold back in February.
Apple's stock is up almost 60% since the start of the year.
It is another milestone for the iPhone maker, whose shares were worth as little as $3.19 in 1997 when it faced the possibility of bankruptcy.
Rival Microsoft is worth $260bn and in 1999, at the peak of the dotcom boom, reached $619bn in market capitalisation.
There has been some talk that there is another tech boom - and potential bust - under way.
On Monday, Facebook said it will pay $1bn to buy Instagram, the popular photo-sharing smartphone app, which has only 13 employees and was launched in October 2010.
Apple's resurgence
Apple's revival under Steve Jobs, who died last year, came about first in computers and then the iPod music player, which was followed by the iPhone and iPad.
Jobs co-founded Apple in Silicon Valley in the 1980s, but was fired towards the end of the decade.
He was asked to rejoin in 1997 and changed the company's product lines, culminating in the success of the iPhone and its tablet spin-off, the iPad.
In January, Apple reported record-breaking net profits for the last three months of 2011. At the end of last year, it revealed it had $97.6bn in cash.
In March, the tech giant under current chief executive Tim Cook said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares.
It expects to use $45bn over the next three years.
Alcoa quarterly profits decline on aluminum prices
US aluminium giant Alcoa has said that its net profits fell from a year ago as the company kicked off US earnings season.
It made a net income in the first quarter of $94m (£59m), compared with $308m in the same period last year.
This was partly due to a 9% drop in the sale price of aluminium, said Alcoa, which is the world's largest producer of the metal.
But it is better than the previous quarter when Alcoa made a $191m loss.
Alcoa is the first member of the blue-chip Dow Jones Industrial Average to report quarterly earnings.
There was also 13% drop in the realised price of alumina, which is an oxidised form of aluminium of which Alcoa is also the world's largest refiner.
"Challenges remain in this economy, but we approach them better prepared than ever before," said Klaus Kleinfeld, Alcoa's chairman and chief executive officer.
Alcoa shares fell 2.9% earlier, before trading closed, amid steep global stock falls.
Polls Open in South Korea’s Crucial Parliamentary Elections
South Koreans are voting in closely-contested parliamentary elections, seen as a key test for President Lee Myung-bak.
Polls opened early Wednesday local time and will close 12 hours later. Voters are casting ballots to elect a new 300-member National Assembly.
Most of the legislators will be elected directly, with the rest chosen through proportional representation.
The results will have an impact on the December presidential vote. This is the first time in 20 years that the parliamentary and presidential election are taking place in the same year.
The competition is largely a two-way race between the ruling New Frontier Party and the opposition Democratic United Party.
Currently, the conservative ruling party has the majority in parliament, but polls show the party may not retain it. The opposition has accused the party of supporting the rich and privileged at the expense of ordinary South Koreans.
Elections for South Korea's 300-seat unicameral parliament are held every four years. The country has about 40 million eligible voters.
Clinton Questions Whether North Korea Wants Better Ties
U.S. Secretary of State Hillary Clinton says North Korea's plans to launch a missile raises questions about its desires to improve ties with its neighbors and the United States.
Clinton said in a speech Tuesday at the U.S. Naval Academy in Annapolis, Maryland that just weeks ago, the North agreed to a moratorium on missile and nuclear tests.
Clinton said North Korean leaders view better relations with the outside world as a threat to the existence of their political system. She added that recent history strongly suggests that more provocation may follow a possible launch.
The secretary said a North Korean missile launch would be a serious violation of United Nations Security Council resolutions. She said the United States and its U.N. allies would pursue appropriate action.
The deputy director of North Korea's space program, Ryu Gum Chol, denies plans to test-fire a nuclear-capable ballistic missile. He told VOA that the rocket will launch a weather satellite into orbit to honor the 100th birthday of North Korean founder Kim Il Sung.
South Korean intelligence photographs also show that the North may be preparing what would be its third underground nuclear weapons test.
Clinton also said in Annapolis Tuesday that the United States and China are not on the brink of a new cold war in Asia.
She said a thriving China is good for America and a thriving America is good for China.
Lawyers for Florida Shooting Suspect Drop Out of Case
The lawyers for a white Hispanic man who shot an African-American teenager to death allegedly in self-defense have pulled out of the Florida case, saying they have lost contact with their client.
Attorneys Hal Uhrig and Craig Sonner said Tuesday they have not heard from George Zimmerman since Sunday despite repeated efforts to reach him.
The lawyers say Zimmerman contacted the special prosecutor's office directly without their knowledge, which attorneys advise their clients not to do.
They also say Zimmerman set up his own legal defense fund and spoke to conservative television commentator Sean Hannity, also without their knowledge.
Both attorneys say they can no longer represent a client who will not communicate with them. But they say they are concerned for Zimmerman's safety, saying he has “a bounty” on his head.
Late Tuesday, special prosecutor Angela Corey announced she will hold a news conference later this week to disclose new information in the case. It is up to Corey to decide whether to prosecute Zimmerman.
Zimmerman, a white man who led a neighborhood watch program in Sanford, Florida last month, shot and killed 17-year-old Trayvon Martin, who is black.
Zimmmerman told police he acted in self-defense when Martin attacked him. He has not been arrested. Martin's family says the young man was unarmed and was confronted because of his race. They are demanding Zimmerman be charged with murder.
A recording of an emergency telephone call to police during their confrontation is inconclusive.
The case has ignited a debate about racial tensions in the United States. Martin supporters say the shooting shows how young black men are constantly threatened with violence, while Zimmerman supporters say race had nothing to do with the killing.
World Powers Criticize Syria for Defying Cease-Fire Plan
World powers have denounced Syria for failing to begin implementing a cease-fire deal proposed by U.N.-Arab League envoy for Syria, Kofi Annan.
White House spokesman Jay Carney said Tuesday the U.S. had seen no evidence of a government pullback in Syria and that the international community would judge President Bashar al-Assad's government on its actions, not its words.
French Foreign Minister Alain Juppe said in a statement that “the Syrian president lied to Kofi Annan.” The statement said that “not only has the firing of heavy weapons not ended…but what was presented as a withdrawal is in fact only a thinly disguised redeployement.”
Juppe said he would bring up the Syrian question at a meeting of foreign ministers of the Group of Eight major industrialized nations in Washington on Wednesday.
In London, British Foreign Secretary William Hague said there is “no evidence so far that the Assad regime has any intention of adhering to any agreement it makes.”
The U.N. Security Council expressed “deep concern” about the level of commitment to a cease-fire the Syrian government has demonstrated so far.
U.S. Ambassador Susan Rice, who holds the council presidency this month, said that if “Syria fails to fulfill its obligations, then the international community and the Security Council will have to decide whether to remain unified and take the next step.” She said “that would be to increase pressure on the Assad regime through collective action.”
Russia, an ally of the Syrian governmnet, also was politely critical. Russian Foreign Minister Sergei Lavrov said “Syria's efforts to implement the plan could have been more active and resolute.”
Rick Santorum Quits Candidacy for US Presidency
U.S. Republican presidential candidate Rick Santorum has dropped out of the race to win the White House, but says he will not stop working to defeat President Barack Obama.
Santorum made the announcement Tuesday in Gettysburg, Pennsylvania, just a day after his daughter, Bella, was released from a hospital where she was treated for a rare genetic condition called Trisomy 18 .
Santorum said her illness caused the family to think about his decision to leave the race. He said the family is looking forward to spending a lot more time with Bella.
He thanked his supporters and says he beat the odds to win millions of votes and 11 primaries.
Santorum, a former U.S. senator, pulled out of the race a week after losing three primaries to the frontrunner for the Republican nomination, Mitt Romney, a former governor of Massachusetts. Santorum had been looking towards the April 24 primary in his home state of Pennsylvania to give his sagging campaign a boost.
But even if he were to win Pennsylvania, Santorum would still be far behind Romney in the number of delegates needed to win the Republican Party nomination.
Romney congratulated Santorum on his campaign and called him an able and worthy competitor and an important voice on the nation.
Only two other candidates remain in the Republican race besides Romney — former House speaker Newt Gingrich and Texas Congressman Ron Paul.
CARIFTA 2012 results for Day2
At the end of the second day of Competition in the 2012 Carifta Games at the National Sports Center, Jamaica lead the medal count with a total of 52 medals.
Jamaica have captured 26 Gold, 14 Silver and 12 Bronze Medals thus far in the games, while Bahamas are second with a total of 25 Medals, compromised of 9 Gold, 8 Silver and 8 Bronze.
Bermuda’s athletes have done the island proud have a total of 4 medals, with Justin Donawa winning Gold, Kyrah Scraders and Shaquille Dill both winning Silver and Taylor-Ashley Bean winning Bronze.
Carifta Games Medal Count after 2 Days:
- 52 Jamaica
- 25 Bahamas
- 15 Trinidad
- 5 BVI
- 4 Guadeloupe
- 4 Bermuda
- 4 St Lucia
- 4 St Lucia
- 3 Martinique
- 2 French Guiana
- 1 Curacao
- 1 St Kitts/Nevis
- 1 Antigua/Barbuda
- 1 Guyana
- 1 Dominica
- 1 Anguilla
- 1 Turks
Our Turks & Caicos team after drawing lane eight secured the bronze in the 4x400 meters with the time of 41.48.
The team consists of 1) Otuonye, Ifeanyichukwu 18 2) Williams, Delano 19 3) Garland, Angelo 18 4) Parker, Shyon 18.
Anthony has 43, Knicks top Bulls in Rose's return
Carmelo Anthony called it a statement game, and the message should be clear for the Chicago Bulls .
If they do meet in the playoffs, the Bulls better finish off Anthony and the Knicks when they have the chance.
Anthony scored 43 points, his most since coming to New York last February, and made the go-ahead 3-pointer with 8.2 seconds left in overtime as the Knicks spoiled the return to the lineup for a rusty Derrick Rose and beat the Bulls 100-99 on Sunday.
Anthony tied it with a 3 late in regulation and scored the final five points of overtime in his signature performance since coming to New York last February. He only had the chance to pull it out because the Bulls missed four straight free throws in the final 34 seconds of regulation.
"This was a playoff game. We have a chance, we might play these guys in the playoffs if we keep doing what we're doing and get that seed, so this was a big statement game for us and we willed this one tonight," Anthony said.
It had the look and sound of a playoff game in the tense final minutes at a frenzied Madison Square Garden. The loudest roars went to Anthony, who screamed "This is my house!" after the second 3-pointer in a place where he heard boos just last month.
He said Sunday's big basket was one of the best of his career.
"This was one of the top," he said. "Overtime, Easter Sunday, everybody's watching, everybody's in the Garden, so this ranks as one of the top."
The Bulls trailed by 21 in the first quarter, fought back to lead by 10 in the fourth, then lost for the third time in four games despite having their starting five together for only the 11th time this season. Their NBA-best record fell to 43-14.
Rose scored 29 points after missing the previous 12 games with a strained right groin, but he shot only 8 of 26 from the field and missed a pair of free throws with 19 seconds left in regulation and the Bulls ahead by three.
"It's tough. It was definitely tough," Rose said. "When you lose a game, especially for us, it's tough. It's going to hurt us no matter who we lose to, but that team played great, man. They were knocking down shots. Didn't give up when we went up that big lead. They kept fighting."
The Knicks increased their lead over Milwaukee to one game for the eighth and final playoff spot in the Eastern Conference. They travel to Chicago on Tuesday, visit Milwaukee on Wednesday, and close a difficult week by hosting Miami next Sunday.
"I was proud of my teammates the way we stuck in there," center Tyson Chandler said. "That's a great team that we faced today. We knew they would battle back. You know, a lot of ups and downs in the game, but the one thing we did was keep our composure, kept believing in each other and we were able to will through to win."
Iman Shumpert scored 15 points and JR Smith had 14 despite 6-of-22 shooting for the Knicks, still without the injured Amare Stoudemire and Jeremy Lin but with a sensational effort from Anthony, who made 16 of 31 shots. Chandler grabbed 16 rebounds.
Carlos Boozer had 13 points and 16 boards for the Bulls, who fell to 9-2 with their regular starting five. Rose committed eight of Chicago's 20 turnovers.
Rose had only seven points on 1-of-6 shooting in the first half, then scored 14 in the third quarter. After trailing the entire game, Chicago finally took its first lead in the final minute of the period, later going ahead 89-80 on Rose's four-point play with 5:04 remaining in the fourth.
The Knicks were down 10 before Smith made a 3-pointer - his fourth basket in 21 attempts - and Anthony scored four in a row to make it 91-88. Luol Deng missed two free throws with 34 seconds left, and after Steve Novak's potential tying 3-point attempt went all around the rim before coming out, Rose missed a pair from the line with 19 seconds to go.
Anthony rushed up the floor and pulled up for a long 3 that tied it at 91 with 11 seconds remaining, and it went to overtime when Rose missed everything on a jumper.
Chicago took a pair of four-point leads on baskets by Rose, but was shut out after his jumper with 2:51 remaining. Anthony gave the Knicks a 100-99 lead with 8.2 seconds remaining and the Bulls had trouble getting into their offense on the final possession, with Rose forced to shoot and miss a tough runner as time expired.
Chicago hadn't had its regular five of Rose, Richard Hamilton, Boozer, Deng and Joakim Noah together since March 5 against Indiana. Hamilton left that game in the opening minutes with an injured right shoulder and only recently returned with his minutes closely monitored, and Rose was hurt a week later in a victory over the Knicks.
Their lack of cohesion was obvious early. Chicago missed 11 of its first 12 shots and perhaps let the struggles affect its usual rock-solid defense. The Knicks started 12 of 16 from the floor, building a 27-6 lead when Shumpert converted a three-point play with 3:30 remaining in the period.
"We should be able to overcome all of that stuff," Bulls coach Tom Thibodeau said. "You just have to do the right things. We do the right things, you're not going to have those problems. You're not going to have those turnovers. Simple plays: Protect the ball, keep the ball moving, quick decisions, hit the first open man, sustain your spacing, protect the ball, tuck it on the catch, fight for your space, get your space. Simple."
The Bulls trailed 53-45 at even though Rose and Hamilton shot 2 of 11 and All-Star Deng was 3 of 10 while Anthony repeatedly beat him on his way to 22 points.
Source: Sports Illustrated
Spurs sink Jazz 114-104 to extend win streak to 11
The San Antonio Spurs pushed their winning streak to 11 on a night when coach Gregg Popovich committed to playing just 10 men.
That health prioritizing isn't likely to change - whether first place is on the line or not.
Tony Parker scored 28 points, Manu Ginobili had 23 off the bench and the Spurs reached their second 11-game winning streak of the season, beating the Utah Jazz 114-104 on Sunday night to maintain their slim lead atop the Western Conference.
Tim Duncan added 13 points and 16 rebounds, making this 28th win in 33 games for the Spurs look like countless other Big Three showcases. But different this time was Ginobili, who has missed 29 games with injuries this year, deliberately seeking out contact to toughen up before the playoffs. Popovich also sat starting center DeJuan Blair for the first time all season.
"It's time for me to join in," Ginobili said following his biggest game since returning from a broken hand in March.
Yet he may not join the Spurs on Monday night in Salt Lake City, when the Spurs and Jazz finish an unusual home-and-home in consecutive nights. Someone shouted to Ginobili in the locker room they'd see him when they got back from Utah, though Ginobili said he did not know if he was making the trip.
Al Jefferson led the Jazz with 19 points and 10 rebounds for Utah, which dropped 1 1/2 games behind Denver for the eighth and final playoff spot with nine games to go. Devin Harris had 18 points and reserve DeMare Carroll had 16 for the Jazz. Guard C.J. Miles left in the second quarter with a strained left calf, and is scheduled to undergo an MRI when the team returns to Utah.
"Any time you lose your top guys, it's tough. But we're a deep team. Injuries happen," Harris said. "They're unfortunate, but it's more playing time for the other guys. We just have to keep playing and fighting through."
Six of Utah's remaining games are against winning teams. The Jazz (29-28) are trying to return to the playoffs for the first time in three years and are poised to decide their own fate if they get there. Utah still has meetings left against Dallas, Phoenix and Houston, all of whom entered Sunday within 1 1/2 games of each other.
The Spurs (40-14) have played two more games than the Thunder (41-15). San Antonio overtook Oklahoma City in the standings for the first time all season Friday and owns the tiebreaker with 12 games remaining.
Expect to see the Spurs cashing in on their new stockpile of depth between now and then. Aside from Popovich sitting Blair, newcomer Stephen Jackson didn't play, either.
Danny Green had 14 points. Ginobili was 14 of 15 from the foul line, saying he made the conscious decision to attack the basket, in part, because he's essentially trying to get used to absorbing physical contact again.
"I'm trying to start to be more aggressive going to the rim. I haven't been fouled much," Ginobili said.
The Jazz trailed by as many as 19 but made a game of it in the fourth. Utah cut the lead to 108-100 with around 2 minutes left, but after Duncan pulled down his 15th rebound on a missed jumper by Gordon Hayward jumper, Parker scored the final six points to finish off the pesky Jazz.
Parker went 9 of 14 from the floor and hit all 10 of his foul shots.
Popovich has insisted that health will trump seeding down the stretch, but the Spurs keep winning in spite of him trying to limit the mileage on his stars before the playoffs. San Antonio is one of just four teams with at least 10 players averaging 19 minutes - New York's the only other winning one - and a rare Spurs midseason shopping spree has given them the luxury of even more depth.
Boris Diaw scored 9 points in his first start since signing with the Spurs on March 23. Along with Jackson and point guard Patty Mills, the Spurs are 11-1 since giving their bench a facelift around the trade deadline.
Parker said Popovich is breaking the news about who's in and out prior to tipoff.
"He's telling before who he's not going to play," Parker said. "We all have to be ready."