10 Things You Need To Know This Morning

jennifer lopez

Photo: ap

Good morning. Here’s what you need to know:

  • The critical BLS Jobs Report beat expectations at 117K new jobs versus 85K expected. Headline unemployment dropped to 9.1 per cent..  Read more here >
  • World markets initially turned around after the U.S. jobs beat but the rally has faded.
  • Angela Merkel and Nicolas Sarkozy announced an emergency conference call today to discuss a new response to the crisis, since July’s bailout didn’t settle the markets. Here’s a guide to Europe’s debt disaster >
  • LinkedIn surprised analysts with a profit in its first quarter as a public company, returning $0.10 EPS versus a $0.3 loss per share estimate. Priceline also beat expectations, causing excitement on Wall Street and a 9% pre-market jump.
  • The FAA’s nearly two-week shutdown could end today as the Senate is expected to pass a short-term funding bill that passed the House earlier this month. Furloughed workers would return to work on Monday and nearly 250 abandoned airport construction projects would resume.
  • Google and Microsoft’s silly feud continued as Microsoft’s Frank Shaw posted several tweets in response to Google general counsel David Drummond’s claim that Microsoft had created a false “gotcha!” to distract from a patent suit.
  • New York’s deputy mayor Stephen Goldsmith resigned, having faced criticism for his handling of the post-Christmas blizzard. He was replaced by administration veteran Caswell Holloway. Flashback: Photos of the Snowpocalypse >
  • The SEC dismissed its insider trading case against Rajat Gupta last night, despite a ton a evidence against him. It will pursue another case against him in an NY Federal Court. Presumably Gupta’s countersuit against the SEC helped.
  • Military commander Kamis Qaddafi was reportedly killed along with 31 others in a NATO bombing last night. This isn’t the first time, however, he has been reported dead.
  • Bank of New York Mellon Corp. announced last night it will charge some large clients to hold cash. This is indicative of an emerging deposit crisis where banks can’t generate any return on large deposits of cash. Are these the seeds of a new financial crisis?
  • BONUS: Marc Anthony has been “begging” Jennifer Lopez to take him back, a source tells US Weekly.

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