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iFive: Steve Jobs' Keynote, BP's Payment Plan, Austerity Measures Around the Globe,  Facebook IPO, Microsoft's TechEd

Morning, campers. While you were sleeping innovation was stealing a march on you. Here's what's been going on:

1. Catch Steve Jobs' WWDC10 keynote in its entirety here. Marvel at the picture quality of iPhone 4 and its "retina display." Wowzers. Then go download Safari 5, the latest Web browser out of One Infinite Loop. It's speedier, cleaner, and more secure, says Ars Technica.

2. Obama would have fired BP's CEO, Tony Hayward, according to an interview with NBC's Today Show. There's speculation that the British energy giant may have to be carved up if it is unable to afford the cleanup. In Louisiana, one of the victims of the Deepwater explosion testified in front of a congressional committee but was adamant she didn't want to see an end to offshore oil drilling. It is, however, a truth universally acknowledged, that the regulations need tightening. We're about to see that happen on the other side of the Atlantic.

3. Whether this recession is L-, V-, or W-shaped is kinda immaterial: It's scissor-sharpening time around the world. The White House is asking for a minimum of 5% from government agencies, while the U.K. is crowdsourcing its cuts (a day after PM David Cameron set out his stall: "painful", he warned). And public sector workers in Spain are already striking as a protest against the government's austerity measures, while German trade union bosses are less than happy with Angela Merkel's austerity package.

4. Everyone's wants to know when Facebook, whose users increased by 8.6 million last month, will go public. David Kirkpatrick, The Facebook Effect author, is counseling this: Don't hold your breath. Meanwhile, Arthur Sulzberger Jr. is trying to work out a way for Facebook users to circumvent the paywall that his paper, The New York Times, is introducing later the year.

5. Sheesh, sometimes it's easy to forget that Microsoft makes phones work too. Come to think about it, sometimes it's easy to forget that Microsoft does conferences. TechEd kicked off yesterday, but it seems everyone's too busy talking about the World Cup.