While U Slept: Big 5 News Breaking Overnight. Tuesday, October 5, 2010

October 5, 2010
FRENCH ROGUE TRADER SENTENCED TO PRISON Jérôme Kerviel, whose high-risk trades nearly caused the collapse of Société Générale in 2008, is convicted of breach of trust and ordered to pay restitution of 4.9 billion euros. (NYT)

SMALL DENT IN HUGE REPUBLICAN LEAD Democrats still trail nationwide ahead of midterm vote, but the gap has narrowed according to new poll. (ABC)

INDONESIAN FLOODING KILLS AT LEAST 26 First reports of weekend flash flood toll in West Papua province, with rescue operations for the missing people hampered by fallen trees. (IAN)

DRASTIC NEW BANK OF JAPAN MEASURES The central bank says it is considering creating a nearly $60 billion program to buy assets, as it lowers its key interest rate to nearly zero for the first time in four years. (FT)

TWO RUSSIANS GET PHYSICS NOBEL Andre Geim and Konstantin Novoselov share Prize for their experiments with an atom-thin material expected to play a large role in electronics. (AP)


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