This is what's in the news for Monday June 4, 2012. The Wall Street Journal reports Facebook (NASDAQ:FB) is developing technology that would allow children under 13 to use the social networking site under parental supervision, and help the company tap a new pool of users for revenue but also raise privacy concerns. The Wall Street Journal also reports Google (NASDAQ:GOOG) has begun warning its China users of certain search words that may trigger the country's Internet censors, its biggest challenge in two years to Beijing's efforts to restrict online content. Reuters reports Ford (NYSE:F) is in talks with its partners to introduce indigenous brands in China, as it focuses on building up its own brand there. Bloomberg reports hedge funds curbed bullish bets on commodities for a third consecutive month as money managers reduced net-long positions across 18 U.S. futures and options by 8.1% to over 620,000 contracts in the week ended May 29, extending the monthly decline to 26%, according to Commodity Futures Trading Commission data. Finally, Bloomberg also reports stocks in China dropped the most in six months after the nations non-manufacturing industries expanded at a slower pace for a second straight month, and fewer U.S. jobs were added than estimated.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...