Time Warner approves spin off of AOL ( AP )

  • Initial claims drop, continuing claims rise for 17th record week ( AP )

  • Commerce department says soon to be downward adjusted durable goods order rose by 1.9% in April, after a [surprise, surprise] huge downward revision in March, from -0.8% to -2.1% ( AP )

  • Oil holds above $63, aircraft companies/gas guzzlers luvin' every minute of it ( Bloomberg and Reuters )

  • The financial version of the swine flu in Germany ( Absolutideas )

  • Will Bernanke get four more years at the fed ( RealClearMarkets )

  • Weil: Morgan Stanley bullying is least of SEC's woes ( Bloomberg )

  • America sneezes and the world is germ-free ( TimesOnline )

  • Never profitable Christian Lacroix files for bankruptcy ( NYT )

  • California budget blues ( The Nation )

  • Is a commercial real estate bust inevitable? ( Fortune )

  • Is the Geithner plan still necessary? ( The New Republic )

  • Groupthink: China won't dump our debt ( WSJ )