World stocks extend fall on dismal US jobs report

World markets dropped on Monday, extending heavy losses last week, as another setback for the U.S. economic recovery intensified fears that a global recession was in the making.

The financial crisis in Europe continued unabated, with uncertainty hanging over Spain's banking sector and Cyprus looking increasingly likely to need a European Union bailout.

Investors were spooked by a U.S. report showing a sharp slowdown in the number of jobs created last month, adding to weak data from other major economies like Europe and Asia.

Unemployment in the 17 countries that use the euro currency stayed at a record-high 11 percent in April. And there were signs that growth in China, which helped sustain the global economy through the 2008-2009 recession, is slowing significantly. China's manufacturing weakened in May, according to surveys released Friday.

"US jobs numbers were not the only weak reading as manufacturing output data in China and the US were also lower, and euro area unemployment reached a record level," Stan Shamu of IG Markets in Melbourne, said in an email.

"There aren't many positives for risk assets at the moment," he said.

Germany's DAX lost 0.9 percent to 5,993 and Switzerland's SMI shed 0.6 percent to 5,741, though France's CAC-40 managed to rise 0.5 percent to 2,968.49. Markets in Britain were closed for a public holiday.

Wall Street was headed for a lower open, with Dow Jones industrial futures shedding 0.6 percent to 12,032 while S&P 500 futures lost 0.5 percent to 1,268.40.

In Spain, investors are waiting for what the government intends to do to boost the finances of some of its ailing banks. The worry is that the government is already strapped for cash and might be overwhelmed by the costs of rescuing its own banks. It might have to tap EU rescue funds, but it is reluctant to do so because such aid would come with conditions on the government's policies.

As worries about Spain's public finances have grown, investors have shied away from lending it money, asking for higher interest rates. Those rates remained high on Monday, at 6.44 percent for 10-year notes, perilously close to the 7 percent that has already pushed Greece, Ireland and Portugal to seek financial aid.

Meanwhile in Cyprus, the central bank governor said the eurozone member is struggling to find ?1.8 billion to inject in its second-largest lender, Cyprus Popular Bank, by a June 30 deadline. That means it is increasingly likely to have to accept EU rescue funds. The chairman of Cyprus Popular Bank also suggested an EU loan now seemed more likely.

Markets came under siege earlier during trading in Asia. Japan's Nikkei 224 index dropped 1.7 percent to close at 8,295.63, its lowest finish since Nov. 28, 2011. The broader Topix index ended below the 700 mark for the first time since December 1983, Kyodo News Agency said.

Hong Kong's Hang Seng tumbled 2 percent to 18,185.59. South Korea's Kospi shed 2.8 percent to 1,783.13. Benchmarks in Taiwan and Indonesia fell 3 percent and 4.3 percent, respectively.

Mainland Chinese shares also lost ground, with the benchmark Shanghai Composite Index falling 2.7 percent to 2,308.55. The index's drop of 64.89 points was the biggest this year.

Benchmark oil for July delivery was down $1.30 to $81.94 per barrel, the lowest since October, in electronic trading on the New York Mercantile Exchange. The contract fell $3.30 to settle at $83.23 in New York on Friday.

In currency trading, the euro fell to $1.2420 from $1.2424 late Friday in New York. The dollar fell to 78.03 yen from 78.08 yen.

___

Pamela Sampson in Bangkok contributed to this report.

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The cell's 'New World'

Friday, June 1, 2012

In one of the most famous faux pas of exploration, Columbus set sail for India and instead 'discovered' America. Similarly, when scientists at the European Molecular Biology Laboratory (EMBL) in Heidelberg, Germany, set out to find enzymes ? the proteins that carry out chemical reactions inside cells ? that bind to RNA, they too found more than they expected: 300 proteins previously unknown to bind to RNA ? more than half as many as were already known to do so. The study, published online today in Cell, could help to explain the role of genes that have been linked to diseases like diabetes and glaucoma.

"We are very excited that, unlike Columbus, we found what we were looking for: well-known enzymes that bind to RNA," says Matthias Hentze, who led the study at EMBL with Jeroen Krijgsveld. "But we never thought there was still so much unexplored territory, so many of these RNA-binding proteins to be discovered."

Almost 50 of the new proteins Hentze and Krijgsveld found are encoded by genes known to be mutated in patients suffering from a variety of diseases, from diabetes and glaucoma to prostate and pancreatic cancers. This finding opens new avenues for researchers studying these disorders. It raises the possibility that such conditions could be caused by a malfunction not in the protein's previously established function, but in its potential role in RNA control.

The idea that enzymes might also function as genetic regulators, by binding to RNA and controlling its function, had already been raised by previous work in the Hentze lab. To investigate further, Alfredo Castello, Bernd Fischer at EMBL and colleagues developed a new method for identifying and isolating all proteins that bind to RNA in living cells. The new approach will have many further uses, as it can be applied to other cell types and conditions, to explore which proteins bind to RNA under different circumstances. This will enable scientists to study how the cell's machinery adapts to stressful situations, responds to drugs or to changes in metabolism, or is altered in disease.

###

European Molecular Biology Laboratory: http://www.embl.org

Thanks to European Molecular Biology Laboratory for this article.

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Putin warns of worsening Syria conflict

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Astronomers discover faintest distant galaxy

Friday, June 1, 2012

Astronomers at Arizona State University have found an exceptionally distant galaxy, ranked among the top 10 most distant objects currently known in space. Light from the recently detected galaxy left the object about 800 million years after the beginning of the universe, when the universe was in its infancy.

A team of astronomers, led by James Rhoads, Sangeeta Malhotra, and Pascale Hibon of the School of Earth and Space Exploration at ASU, identified the remote galaxy after scanning a moon-sized patch of sky with the IMACS instrument on the Magellan Telescopes at the Carnegie Institution's Las Campanas Observatory in Chile.

The observational data reveal a faint infant galaxy, located 13 billion light-years away. "This galaxy is being observed at a young age. We are seeing it as it was in the very distant past, when the universe was a mere 800 million years old," says Rhoads, an associate professor in the school. "This image is like a baby picture of this galaxy, taken when the universe was only 5 percent of its current age. Studying these very early galaxies is important because it helps us understand how galaxies form and grow."

The galaxy, designated LAEJ095950.99+021219.1, was first spotted in summer 2011. The find is a rare example of a galaxy from that early epoch, and will help astronomers make progress in understanding the process of galaxy formation. The find was enabled by the combination of the Magellan telescopes' tremendous light gathering capability and exquisite image quality, thanks to the mirrors built in Arizona's Steward Observatory; and by the unique ability of the IMACS instrument to obtain either images or spectra across a very wide field of view. The research, published in the June 1 issue of The Astrophysical Journal Letters, was supported by the National Science Foundation (NSF).

This galaxy, like the others that Malhotra, Rhoads, and their team seek, is extremely faint and was detected by the light emitted by ionized hydrogen. The object was first identified as a candidate early-universe galaxy in a paper led by team member and former ASU postdoctoral researcher Hibon. The search employed a unique technique they pioneered that uses special narrow-band filters that allow a small wavelength range of light through.

A special filter fitted to the telescope camera was designed to catch light of narrow wavelength ranges, allowing the astronomers to conduct a very sensitive search in the infrared wavelength range. "We have been using this technique since 1998 and pushing it to ever-greater distances and sensitivities in our search for the first galaxies at the edge of the universe," says Malhotra, an associate professor in the school. "Young galaxies must be observed at infrared wavelengths and this is not easy to do using ground-based telescopes, since the Earth's atmosphere itself glows and large detectors are hard to make."

To be able to detect these very distant objects which were forming near the beginning of the universe, astronomers look for sources which have very high redshifts. Astronomers refer to an object's distance by a number called its "redshift," which relates to how much its light has stretched to longer, redder wavelengths due to the expansion of the universe. Objects with larger redshifts are farther away and are seen further back in time. LAEJ095950.99+021219.1 has a redshift of 7. Only a handful of galaxies have confirmed redshifts greater than 7, and none of the others is as faint as LAEJ095950.99+021219.1.

"We have used this search to find hundreds of objects at somewhat smaller distances. We have found several hundred galaxies at redshift 4.5, several at redshift 6.5, and now at redshift 7 we have found one," explains Rhoads. "We've pushed the experiment's design to a redshift of 7 ? it's the most distant we can do with well-established, mature technology, and it's about the most distant where people have been finding objects successfully up to now."

Malhotra adds, "With this search, we've not only found one of the furthest galaxies known, but also the faintest confirmed at that distance. Up to now, the redshift 7 galaxies we know about are literally the top one percent of galaxies. What we're doing here is to start examining some of the fainter ones ? thing that may better represent the other 99 percent."

Resolving the details of objects that are far away is challenging, which is why images of distant young galaxies such as this one appear small, faint, and blurry.

"As time goes by, these small blobs which are forming stars, they'll dance around each other, merge with each other and form bigger and bigger galaxies. Somewhere halfway through the age of the universe they start looking like the galaxies we see today ? and not before. Why, how, when, where that happens is a fairly active area of research," explains Malhotra.

In addition to Hibon, Malhotra, and Rhoads, the paper's authors include Michael Cooper of the University of California at Irvine, and Benjamin Weiner of the University of Arizona.

###

Arizona State University: http://asunews.asu.edu/

Thanks to Arizona State University for this article.

This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.

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Marsha Temlock: ShouId I Encourage or Discourage My Kid to Get Divorced?

Some parents look on with horror when they realize their son or daughter's marriage is in trouble. Others are delighted that their unhappy child finally sees the light. The first scenario is more common, so I will begin by discussing parents who run to the rescue.

In response to an earlier blog post I wrote about the shock of receiving the divorce announcement, one parent commented: "We feel like observers of a train wreck. Our son recently decided to divorce our daughter-in-law after 11 years of marriage. They have 2 young children - ages 3 & 4 ... There were issues in their marriage that we found hard to understand; but our son seemed content, so we never commented on our observations. Then, for us, out of the blue, he wanted a divorce. At first we tried to 'fix' it, angering our son and then after many long distance conversations we accepted that it would happen."

It's hard to fault parents for wanting to fix what they perceive is broken. Some are willing to do everything in their power to keep the marriage afloat. They offer to pay for marriage counseling, to send the couple on a second honeymoon, to bail them out of financial difficulty, to set a jobless spouse up in business, even going so far as to buy the couple a larger house thinking a change in domicile will solve the problem.

For obvious reasons, some marriages should not be saved. Keep in mind, however, that parents are frequently in the dark and have no idea what is causing the breakup. Even if they know all the details, they should not take the lead unless their child is in danger. It's simply not the parent's decision to resolve or dissolve the marriage.

Butting out may be tough for a parent who has been divorced and thinks that his or her experience will help the adult child. No marriage is the same; no divorce is the same.

It's helpful to stop and wonder what motivates parents to get so involved. One embittered grandfather who advocated for his son's split spoke up in a parent support group to say that, to this day, he blamed his own parents for making him stick out his miserable marriage. "I stayed married eight years longer than I should have and it was hell."

A compelling reason to try to save the marriage has to do with grandchildren. "We've always been very close to our children and grandchildren and it is heartbreaking to have this happen and feel so helpless," wrote the parent who responded to my blog.

Unfortunately, grandparents often get the short end of the stick, but there are many things they can do to preserve the relationship. In my book Your Child's Divorce: What to Expect... What You Can Do? I suggest ways grandparents can strengthen the bonds with grandchildren at each stage of their parents' divorce.

It's natural to worry about the grandkids' well-being. Save the marriage, save the family. While there is a lot of evidence that children of divorce bear the scars into adulthood, today more and more children grow up in a single parent household. In their longitudinal study, Professor E. Mavis Hetherington and co-author John Kelley conducted a longitudinal study, For Better or For Worse, Divorce Reconsidered, observed 1,400 families and more than 2,500 children from divorced, intact and remarried families. They discovered that while there is a deleterious effect, the number of children who grew up, finished school, got jobs, formed healthy families and achieved impressive professional success were "uncommonly" resilient, mature, responsible and focused.

I truly believe that parents who interfere or take sides run the risk of alienating their child. There is no need to feel helpless; you can be someone your adult child can turn to when things look bleak. Be a trusted listener, a comforter, and -- if at all possible -- an optimist.

Your child's divorce is not the end of the world. Many parents think of it in terms of loss. Others who have watched their unhappy son or daughter from the sidelines call it a new beginning.

?

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Questions for Williams sisters after French flop

FILE - This May 29, 2012 file photo shows Serena Williams reactind during her loss to France's Virginie Razzano in the first round of the French Open tennis tournament in Paris. Almost from the moment Venus and Serena Williams appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/David Vincent, File)

FILE - This May 29, 2012 file photo shows Serena Williams reactind during her loss to France's Virginie Razzano in the first round of the French Open tennis tournament in Paris. Almost from the moment Venus and Serena Williams appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/David Vincent, File)

FILE - This Jan. 23, 2007 file photo shows Serena Williams reacting during her quarterfinal match against Israel's Shahar Peer at the Australian Open tennis tournament in Melbourne. Almost from the moment Venus and Serena Williams appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/Rick Stevens, file)

FILE - This Nov. 22, 2011 file photo shows Serena, left, and Venus Williams posed during a news conference prior to an exhibition tennis match, in Bogota, Colombia. Almost from the moment the Williams sisters appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/Fernando Vergara, File)

FILE - This June 16, 1997 file photo shows Venus Williams, right, and her sister Serena posing at the Direct Line Ladies Tennis Championships in Eastbourne, England. Almost from the moment the Williams sisters appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/File) UNITED KINGDOM OUT

FILE - This May 26, 2010 file photo shows Venus Williams concentrating before serving during a match at the French Open tennis tournament in Paris. Almost from the moment Venus and Serena Williams appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars. (AP Photo/Lionel Cironneau)

PARIS (AP) ? Almost from the moment Venus and Serena Williams appeared on the Grand Slam scene in the late 1990s, they've been winning titles and transcending tennis, becoming red-carpet celebrities as much as sports stars.

Every so often, like all elite athletes, they've heard questions about whether their best days were behind them, whether health problems or off-court distractions were taking their toll. And each time, it seemed, one or the other ? or sometimes, amazingly, both ? would promptly reach a major final, as if to say, "Hey, don't count us out yet."

Now that each is past her 30th birthday, and big victories are less frequent than ever, those questions are bound to get more persistent, especially after this week. The 2012 French Open has been the worst Grand Slam tournament in Williams family history, the first of the 43 that both entered at which neither reached the third round.

Venus lost 6-2, 6-3 in the second round Wednesday at Roland Garros, barely providing any resistance against Agnieszka Radwanska of Poland, who might be seeded No. 3 but never has been past the quarterfinals at a major tournament. Afterward, Venus spoke about the difficulties of adjusting to living with Sjogren's syndrome, an autoimmune disease that can cause fatigue and joint pain and leaves her listless some days.

Asked whether the thought crossed her mind she might have played her last French Open match, she didn't hesitate for a moment.

"No, not at all," replied Venus, who turns 32 in June. "This is just the beginning for me. This is a process that I have to learn a lot from, working with myself, with my doctors, everything. Like, this is the beginning for me again. I have to be positive. I can't walk out on the court and say, 'Oh, my God, this is it.' That's not the way I see it."

Serena, meanwhile, lost 4-6, 7-6 (5), 6-3 in the first round Tuesday to Virginie Razzano of France, a woman who is ranked 111th and never has made it beyond the fourth round at a major tournament. Making it more surprising: Serena was two points from victory nine times but couldn't close the deal. It's the only time in 47 career Grand Slam appearances that the younger Williams lost her opening match.

"There's those days someone comes out and they have nothing to lose, so they go for it. ... It's bad luck. She's a great player. I think if she could have gotten through that match, it would have been, this tournament, a lot different for her," Venus said about her sister. "Thankfully she has, like, 20-something majors to keep her warm at night."

That's true: Counting singles, women's doubles and mixed doubles, the 30-year-old Serena actually owns 25 Grand Slam trophies. Her 13 in singles represent by far the highest total among active women and the sixth most in history. Venus stands second among women on tour now, with seven, the last in 2008. They've teamed up to win 12 in doubles.

They've always been each other's fiercest rival and best friend, ever since they emerged as teenagers from Compton, Calif., coached by a father who taught himself tennis by watching instructional videos. They were siblings who competed with each other for top billing in their own home and the entire globe ? and with 120 mph serves and punishing groundstrokes, they ushered in a new brand of power-based play.

All along, they've dabbled in other interests such as fashion (both have worked on clothing lines), interior decorating (Venus' pursuit) and acting (Serena's side project).

"Serena could have been the greatest player ever. Ever," 12-time Grand Slam singles champion and women's sports pioneer Billie Jean King said in a recent interview. "She is the best athlete we've ever had in the game. She and her sister Venus were brought up to do many, various things. So they do go in and out, there's no question. But ... when Serena gets focused, watch out."

Both have been No. 1 in the WTA rankings, but Serena is now No. 5, and Venus is No. 53.

They have played each other in eight Grand Slam finals (Serena leads 6-2), including four in a row from 2002-03, but none since Wimbledon in 2009. Serena's title at the All England Club the next year was the last at a Grand Slam tournament for either Williams; a few days later, she cut her feet on glass at a restaurant, leading to a series of complications, including blood clots on her lung.

Her latest issue was a bad back, although she refused to blame that for her loss to Razzano.

"I've just got to ... figure out what I did wrong and not do it again," Serena said. "You know, learn from it."

There is a new generation of players moving up, and the Williams sisters certainly are at least partly responsible for helping spur the growth of tennis.

Its global reach is such that the top 10 women in this week's rankings represent 10 countries. The past four Grand Slam tournaments were won by first-time major champions ? Li Na of China, Petra Kvitova of the Czech Republic, Sam Stosur of Australia and Victoria Azarenka of Belarus ? the longest such stretch of debut titles in the Open era, which began in 1968.

Venus and Serena Williams made women's tennis matter more than it had in years, prompting a move from Saturday afternoon to prime time for the U.S. Open title match in 2001, when a pair of sisters met in a Grand Slam singles final for the first time since it happened at Wimbledon all the way back in 1884.

The first all-Williams major final 11 years ago drew higher TV ratings than a college football game the same night between two Top 25 college football teams, Notre Dame and Nebraska.

"I definitely grew up watching them. I've idolized both of them forever. I mean, they were the first players I watched on TV and said, 'I want to be there, one day, playing the tournaments that they're playing,'" said Melanie Oudin, a 20-year-old from Marietta, Ga., who reached the 2009 U.S. Open quarterfinals.

"I just can't see them ? especially Serena ? retiring. Serena's been the best of the best for so long," Oudin continued. "Even when she's out for a while, she comes back, and she can still play amazing tennis and beat everyone."

The world will be watching when Wimbledon begins next month to find out if that's still the case.

___

Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich

Associated Press

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Spain hopes for online betting windfall

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