Originally published on Tue April 24, 2012 6:30 am
Weeks ahead of its initial public offering, Facebook released its first quarter profits Monday, and they are down 12 percent from a year ago. At the same time, company expenses have nearly doubled. Facebook attributes some of that to market expansion, which requires more employees and infrastructure.
And let's turn now to the first political leader to be put on trial for his role in the global banking crisis. Yesterday, a special court in Iceland found that country's former prime minister guilty of essentially mishandling the banking bubble that led to Iceland's financial collapse.
Michael Stothard has been covering this trial for The Financial Times. He joined us to talk more about it. Good morning.
President Obama sets off on a two-day tour of college campuses Tuesday to tout a plan to keep student loans more affordable.
The trip is billed as official business, but it has a political flavor. Stops include: North Carolina, where Democrats hold their national convention this summer; Colorado, where Obama accepted his party's nomination four years ago; and Iowa, where his White House campaign was launched in 2008.
All three states are expected to be hard-fought battlegrounds in November.
There's some soul-searching going on in the military these days.
The latest scandal to hit U.S. troops fighting in Afghanistan surfaced last week when The Los Angeles Times published photographs showing smiling American soldiers holding up body parts of a Taliban suicide bomber.
U.S. Defense Secretary Leon Panetta addressed the latest incident during a trip to Brussels.
"That behavior that was depicted in those photos absolutely violates both our regulations and, more importantly, our core values," he said last week after a NATO meeting.
There have been hundreds of terrorism trials in the U.S. since the attacks of Sept. 11, 2001, but the case unfolding in Brooklyn,N.Y., is different. While its focus is on defendant Adis Medunjanin and the role he allegedly played in a 2009 plot to bomb New York City subways, the trial itself breaks new ground. It marks the first time the public is hearing in open court about real al-Qaida plots from the people the terrorist group actually dispatched to carry them out.