Some of the more interesting and important items for May 12th :

• Google Offers Glimpse of New Google TV Due This Summer | Ina Fried | Mobilized | AllThingsD – Android developers got a brief peek on Wednesday at the simplified Google TV interface that the company hopes will be more attractive to couch potatoes.
• Jobs data weighs on Australian markets Economic Report – MarketWatch – Although the country’s unemployment rate met expectations in April, holding steady at 4.9%, the number of employed unexpectedly dropped to 11.437 million, from 11.459 million in March, with CommSec strategists saying it marked the biggest decline in 22 months.
• Teva: More Upside Coming Post-Q1, Says Collins Stewart – Stocks To Watch Today – Barrons.com – Analysts and investors are still giving Teva Pharmaceutical (TEVA) too little credit, writes Collins Stewart analyst Louise Chen in a note today following the company’s earnings report. She sees shares jumping to $65 from their current $48.74 (up 3% today).
• GMO’s Grantham: Time To Take Risk Off Table – Focus on Funds – Barrons.com – Instead of waiting until this fall, investors should start taking risk off the table now, GMO Chief Investment Officer Jeremy Grantham advises today in a quarterly letter to institutional clients.
• Investors Shifting to Cash From Commodities – Bloomberg – Global investors have tempered their optimism about the U.S. and world economies and plan to put more of their money in cash and less in commodities over the next six months, a Bloomberg survey found.
• Google Chromebook Will Be Offered in June – Bloomberg – Google Inc. (GOOG)’s new Chromebook line of laptops, manufactured by Samsung Electronics Co. and Acer Inc. (2353), will go on sale next month, furthering the company’s push into computer hardware.
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• Banks float $5 billion deal to settle foreclosure probe: report | Reuters – (Reuters) – Major banks are willing to pay as much as $5 billion to settle claims by federal and state officials of improper mortgage foreclosure practices, the Wall Street Journal reported, citing people familiar with the situation.
• China’s Efforts to Cut Inflation Falling Short – NYTimes.com – HONG KONG — Consumer prices in April rose faster than the Chinese government’s target for the fourth month in a row, as bank lending also climbed faster than expected, economic data released Wednesday morning showed.
• BBC News – Toyota quarterly profits drop but recovery expected – Toyota Motors' profits plummeted by 77% in the last quarter because of disruption caused by March's earthquake.