Cheat Sheet - The Young Billionaires Club

Today: U.S. Jobless Rate Drops, U.S. Tourists Kidnapped in Egypt, 'Throw Them All Out' Author Lauds Insider-Trading Ban Move by Congress February 03, 2012 RICHIE RICH 1. The Young Billionaires' Club Facebook founder Mark Zuckerberg has a lot on his shoulders for a 27-year-old, but there's one thing he hasn't had to worry about for years: money. His net worth is estimated to be between $21 billion and $28 billion. He's not the only billionaire barely topping 30—see photos of Sean Parker, Sergey Brin, and other young people who are very, very rich. Read it at The Daily Beast WE'RE BACK 2. U.S. Jobless Rate Drops Great news, and much better than expected: The U.S. economy created 243,000 non-farm jobs in January, up from a 200,000 increase in December, and the unemployment rate dropped from 8.5 percent to 8.3. The private sector added 257,000 jobs, while the public sector cut 14,000. At one point during trading Friday, European stocks hit a six-month high as investors were optimistic about the U.S. jobs report and cheered data that the euro zone might avoid a recession. But Canada's jobs report for the same month was disappointing—it added only 2,300 jobs when economists were expecting 22,000, and unemployment rose to 7.6 percent. Read it at Bureau of Labor Statistics RANSOM 3. U.S. Tourists Kidnapped in Egypt Two American tourists and their guide were kidnapped Friday after gunmen stormed their minivan in the Sinai near a popular Red Sea resort. Officials say the abductors sped away in a sedan and a pickup truck, but left behind three other people who were in the minivan. The incident happened near St. Catherine's Monastery; no one has taken responsibility for the crime, though Egypt has faced a surge in crime since former dictator Hosni Mubarak was ousted nearly a year ago. Read it at Associated Press WEAK TEA 4. How the New Ethics Bill Falls Short The Senate on Thursday passed legislation that will rein in Congress's financial dealings—but it does not go nearly far enough in stopping the culture of cronyism and corruption—we need legislation that creates true transparency. But praise is due for the champions of reform who made it happen, writes The Daily Beast's Peter Schweizer, the author of the book that helped expose Congress's sweetheart deals. Read it at The Daily Beast FALLOUT 5. Komen Founder Defends Decision Nancy Brinker, the founder and CEO of the Susan G. Komen breast-cancer foundation, has come out to defend the organization's decision to stop awarding grant money to Planned Parenthood for breast-cancer screening—a move that many say is backlash against abortion. But in a conference call with the media Thursday night, Brinker said abortion had nothing to do with it, even though Komen's vice president for policy is Karen Handel, an anti-abortion politician. Brinker said the decision was a result of policy changes on how grants are given. The organization faced a revolt from within: all seven of the California affiliates of Komen released statements saying they opposed the decision to pull funding, as did the Aspen and Denver affiliates. New York City Mayor Michael Bloomberg pledged $250,000 to Planned Parenthood in response, while 26 senators urged Komen to reconsider. Read it at Los Angeles Times PARANOIA U.S. Fears Israel Will Strike Iran Panetta reportedly warns that it could happen. SHAKEUP British Energy Minister Resigns After criminal charges over ex-wife's speeding. ESCALATION Egypt Anger Boils Over After soccer deaths. SMARTPHONE HTC Admits To Flaw Coverup Says its wifi security is faulty. HIGH ART Cezanne Becomes Priciest Painting Ever Qatar buys 'The Card Players' for $250 million. GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET The Yes List Weekly cultural recommendations from The Daily Beast. How a GOP Win Could Spell the End of Reproductive Health for Global Women by Michelle Goldberg David Choe, Facebook's Millionaire Graffiti Artist by Jimmy So 'The Woman in Black:' Will Daniel Radcliffe Survive After 'Harry Potter'? by Ramin Setoodeh, Peter Travers

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