Stocks to open lower on slowdown worries

Just a look at a graph of the Australian sharemarket lately? It's pretty much a flat line since September 2009. There have been bursts of life, but each was followed by an equally swift trip south before anyone could get enthusiastic about investing again.

Take Friday. The S&P/ASX200 recouped early losses to muscle 15.3 points higher to a finish of 4711.4. Nice work. But it closed at 4719.90 on September 24 2009.

Yet this lack of movement has come during a time when we have experienced perhaps the biggest mining boom this country has ever seen, record terms of trade, record low import prices for many goods thanks in part to the soaring Aussie dollar, and a relatively enviable economic performance compared to many countries around the globe.

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On paper this would seem a heady combination for shares - but the market has been going nowhere fast.

It comes after US stocks ended the week mired in red on Friday as investors shrugged off US inflation and consumer confidence reports and weighed disappointing company earnings and a firmer dollar.

The surge in the Australian dollar also means that overseas investors are potential sellers of local stocks at the moment, because in US-dollar terms they are sitting on big profits.

Dr Oliver says that during the past 12 months the Dow is up 17.7 per cent and the local S&P/ASX200 just 1.2 per cent. "But for the US investor in Australian stocks, our market has risen 19.7 per cent in US-dollar terms, reflecting a 1 per cent or so local gain and an 18 per cent run in the Australian dollar - so the US investor has made good money in that time.

In economic news on Monday the Australian Bureau of Statistics (ABS) will release data on new motor vehicles sales for April as well as housing finance figures for March.

In companies news DuluxGroup Ltd will release its half year financial results in Melbourne on Monday.

Meanwhile in the Asia zone, Japanese stocks will likely remain under pressure next week after banking shares dived on a suggestion financial institutions will have to waive loans to Tokyo Electric Power (TEPCO), dealers said Friday.

Upcoming GDP figures are expected to show the Japanese economy has slipped back into recession.

On Friday the benchmark S&P/ASX200 index closed up 15.3 points, or 0.33 per cent, at 4,711.4 points, while the broader All Ordinaries index had added 10.7 points, or 0.22 per cent, to 4,787.3 points.

Caleb Followill of Kings of Leon Weds Lily Alridge

It wasn't the heavily hyped, hours-long event that was the wedding of Prince William and Kate Middleton, but on Thursday, a King married his queen.

Kings of Leon frontman Caleb Followill married Victoria's Secret model Lily Aldridge early Thursday evening at an intimate ceremony held at the San Ysidro Ranch in Montecito, California. According to People magazine, the couple exchanged vows before an audience of only family members at 5:30 p.m. but have plans to celebrate their nuptials by way of a "big party" at a later date.

"It was a perfect day," Followill said of the event.

Followill, 29, met Aldridge, 25, when she appeared in the band's video for "Use Somebody." The couple had been together for more than two years when Followill popped the question last September.

Lily, 25, chose to walk down the aisle in a strapless Vera Wang wedding dress with layers of lace and chiffon detail while Followill went with a grey Gucci suit with cream-colored necktie.

According to PopEater:

Followill, 29, is singing a happy tune now that he’s a newlywed. “It was a perfect day,” he said.

The happy couple announced their engagement last fall and originally met in 2007 at the Coachella music festival, Alridge was later featured in the bands music video for Use Somebody.

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Gays and Christians clash at Adelaide rally against homophobia

Peaceful demonstration for same-sex marriage turned ugly when a fringe group of Christian counter-protesters turned up to challenge gay rights in Adelaide.

Around 200 people met yesterday at Victoria Square, before the rainbow flag-waving procession moved off to Parliament House.

South Australian Legislative Council member Ian Hunter addressed the crowd, along with queer youth workers who said youth health and welfare was being threatened by the closure of service projects. Lesbian and Uniting church minister Reverend Sue Wickham conducted a marriage ceremony for ten couples.

Christian Pulls Gay From Wheelchair

We would never go to their church and disrupt things the way they did today.”

Street Church spokesman Forbes Morrison said preachers were pushed and threatened.

“The homosexuals and lesbians had organised a march to strut their sin down King William Street, and the Christians of Street Church went out to appeal in love to them to repent of their sins and put their trust and surrender in Jesus Christ,” Mr Morrison said.

“A large portion of the sitting crowd of gays aggressively began to push, harangue, curse and threaten the Christian preachers.

As the march began, the Christian preachers led the way in protest, denouncing homosexuality and lesbianism as a crime against God for which those who practice will be damned and go to hell.

Rally organiser Jason Virgo tells Same Same he was shocked to see such disrespectful behaviour from a handful of people purporting to have Christian values yesterday.

“It’s particularly frustrating considering the day was also about marking the International Day Against Homophobia, and that small minority of people are often seen around Adelaide making homophobic and xenophobic statements, claiming to represent God.

He adds: “I blame any violence on Saturday on the street preachers, they set out from the beginning to disrupt and antagonize people from the outset. Police removed two of the street preachers and no one from our community. I think that speaks for itself.”

Virgo says Adelaide’s same-sex marriage supporters will continue to march again in coming months, despite the tension. “We’re not going to let a few nutters stop us.

Strauss-Kahn lawyer says must remain calm over arrest

Dominique Strauss-Kahn, head of the International Monetary Fund, has been arrested on charges of attempted rape, criminal sexual act and unlawful imprisonment, New York City police said Sunday, the Associated Press reported.

A law enforcement official said Mr. Strauss-Kahn was taken into police custody Saturday after being removed from an airplane at Kennedy Airport.

The law enforcement official said Mr. Strauss-Kahn allegedly forced a cleaning woman onto his bed and sexually assaulted her at around 1 p.m. Saturday inside his room at the Sofitel Hotel near Times Square.

One of Dominique Strauss-Kahn's France-based lawyers said on Sunday that it was key to avoid a media frenzy over the sex assault charges against the IMF chief and wait for clarity on whether the allegations are true.

"We must wait until things settle and see if it's true or a provocation," Leon Lef Foster told reporters.

"We must be especially careful not to get into a media circus and we must wait until things are clear," he said, and said that it was important to remain calm.

Gillard continues to defend welfare cuts

Prime Minister Julia Gillard has promised the $2 billion freeze on family payments will be temporary, as she continues to defend her first budget.

The coalition has been highly critical of moves to freeze the maximum rate and income thresholds for some family payments, which it has signalled it will oppose.

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The indexation freeze is expected to cost families on average about $20 in 2011/12. But it could be worth up to $800 in 2012/13 and $600 the following year for 210,000 families.

His “campaign of negativity” would not last until 2013, when the next election is due.

“Ultimately I think Australians are going to see through this and I think the fact he's so desperate for an election shows even he knows they're going to see through it,” Mr Gillard said.

“That's why he's so keen for an election now.

Independent federal MP Tony Windsor said opposition calls for an early election show he was right to help hand Labor power after last year's election.

“Tony Abbott was asked right at the start of this process during the 17 days whether he wanted another election, he didn't and neither did Julia Gillard,” Mr Windsor told Network Ten.

“Quite clearly what Mr Abbott's been suggesting of recent days, he wouldn't have been interested, he's interested in getting back to the polls, so a hung parliament wouldn't have suited him.”

However opposition frontbencher Joe Hockey today repeated the Coalition's calls for an early election.

Former Liberal treasurer Peter Costello weighed into the debate, questioning Ms Gillard's leadership.

"Gillard is (politically) dead," he told Network Ten.

"I think the public has made up its mind, and it's not pretty."

Independent MP Tony Windsor refused to comment on the leadership, but told Network Ten he was confident the Gillard-government would run a full term to 2013.

Mr Windsor and Nationals leader Warren Truss both told the program they had no intention of blocking budget supply, but would consider measures individually.

Merkel, IMF talks cancelled

Dominique Strauss-Kahn, head of the International Monetary Fund, has been arrested on charges of attempted rape, criminal sexual act and unlawful imprisonment, New York City police said Sunday, the Associated Press reported.

A law enforcement official said Mr. Strauss-Kahn was taken into police custody Saturday after being removed from an airplane at Kennedy Airport.

The law enforcement official said Mr. Strauss-Kahn allegedly forced a cleaning woman onto his bed and sexually assaulted her at around 1 p.m. Saturday inside his room at the Sofitel Hotel near Times Square.

Mr. Strauss-Kahn's attorney didn't immediately return phone or email messages seeking comment.

Talks between German Chancellor Angela Merkel and arrested IMF chief Dominique Strauss-Kahn, set for Sunday, have been cancelled as the International Monetary Fund will not send a replacement to Berlin, a government source said.

The charges, if true, would strike a tremendous blow to France's current politics. The Socialist Party is holding primaries this fall, but candidates have been requested to apply between June 28 and July 13.

Mr. Strauss-Kahn's decision regarding his candidacy has been much awaited as polls have constantly shown over the past few months that he would beat Mr. Sarkozy as soon as the first round. His decision was expected as soon as the end of May, a person close to him told Dow Jones Newswires.

Planking death: man plunges from balcony

Planking, which involves participants lying flat on their stomach in different and sometimes dangerous settings and sharing photos of their efforts with fellow plankers, has made news in the past week with the arrest of a Gladstone man.

Police issued the 20-year-old with a court appearance notice on Tuesday night after he was discovered planking on a police car.

However today police said their fears had been realised with the death of a man attempting the new fad.

Shortly before 4.30am a man in his early 20s plummeted from a unit block in Main Street, in inner city Kangaroo Point, and died at the scene.

Deputy Commissioner Ross Barnett told reporters the man "may have fallen while attempting a planking episode.

Deputy Police Commissioner Ross Barnett today said his worst fears about planking had been realised.

“This morning we have seen a young man take this activity a step further and attempt to plank on a balcony. Unfortunately he has tragically fallen to his death,” he said.

Mr Barnett said the 20-year-old and another person had been out during the night and had been planking in various spots on their way home.

"He has tragically lost his footing and fallen to the ground below," he said.

"It is what we've been fearing."

Mr Barnett warned people against taking unnecessary risks in a bid to out-do each other for the ultimate photograph.

“Accepting a risk of injury for yourself is one thing, but the potential is there for others to be injured as a result of your behaviour,’’ he said.

Earlier this week, a man was charged in Gladstone for trespassing on police property when he "planked" across the back of a police car.

If other people break the law during this activity they will be charged as well," Mr Barnett said.

Mr Barnett said the man was reportedly preparing to lie on a balcony rail when he fell.

He said the man and another person had been out during the night and had been planking in various spots on their way home.

"He has tragically lost his footing and fallen to the ground below," Mr Barnett said.

"It is what we've been fearing."

The deputy commissioner could not say whether it was Australia's first death from the recent craze.

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Sony begins partial PlayStation Network operation

TOKYO—Sony began restoring its PlayStation Network service in the United States and Europe on Sunday after shutting down the service almost a month ago due to a massive security breach affecting over 100 million online accounts.

Restored operations are mainly limited to online gaming, chat and music streaming services. Sony said it aimed to fully restore the PlayStation Network by the end of May.

Sony also began Sunday a phased restoration of its Qriocity movie and music services which share the PlayStation Network's server, said Sony Computer Entertainment Inc. spokesman Satoshi Fukuoka.

The first phase of the restoration of services for North America and Europe will include sign-in for PlayStation Network and Qriocity services, including the resetting of passwords, the restoration of online gameplay across PlayStation 3 and PSP, playback rental video content if within rental period of PlayStation Store Video Store on PS3, PSP and Media Go, the restoration of Q Music Unlimited, for current subscribers, on PS3 and PC, access to third party services such as VidZone and MUBI, restoration of the 'Friends' category on PS3, including Friends List, Chat Functionality, Trophy Comparison and the restoration of PlayStation Home.

Sony has warned that the restoration of services on a global scale may take some time and said on Saturday that it would take hours to restore the PlayStation Network across the US.

The company has been working with outside contractors to ensure Sony PlayStation Network, Qriocity and Sony Online Entertainment are far more secure then before the hack that saw millions if users data stolen.

Network security breaches are part of a trend that saw the costs of such invasions jump 48 percent, to an average of $318 per compromised record last year, according to a March report by the Ponemon Institute.

Malicious attacks in the U.S. are on the rise. They climbed 7 percentage points in 2010, with data breaches costing U.S. businesses an average of $7.2 million per incident, according to the Ponemon Institute report. The study found that about 85 percent of all U.S. companies have experienced one or more attacks.

The use of a hijacked or rented server to launch attacks is typical for sophisticated hackers. The proliferation of server farms around the globe has made such misdirection easier, said E.J. Hilbert, president of the security company Online Intelligence and a former FBI cyber-crime investigator.

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