Morning Brief: Judgment day

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Voters in Indiana and North Carolina will choose between Hillary Clinton and Barack Obama today. According to the latest polls, Clinton leads in Indiana and Obama is ahead in North Carolina. Adam Nagourney explains what today's contests mean and lays out three scenarios for how they might play out.

The last polls close at 7 p.m. ET in Indiana and at 7:30 p.m. ET in North Carolina.

Global Economy

Oil prices surged past $120 a barrel Tuesday for a second straight day.

Google both caused and helped kill Microsoft's bid for Yahoo. But Jerry Yang says Yahoo is still open to a deal.

Are Fannie Mae and Freddie Mac vulnerable? Government officials are getting nervous.

Asia

The cyclone in Burma may have killed as many as 15,000 people or, by another estimate, as many as 50,000.

The Asian Development Bank (ADB) is stepping in to help Asian countries with the food crisis. India's finance minister wants to ban the trading of food futures, a proposal the ADB dismisses as a "political gimmick."

A virus known as hand-foot-mouth disease has killed 26 children in China and infected nearly 12,000.

Middle East and Africa

Kenya is struggling to recover from its post-election ethnic strife.

Somalia is not recovering.

Iran is suspending talks with the United States over Iraq. Time says the evidence that Iran is supplying Shiite militias is thin.

Kuwaitis are losing confidence in democracy.

Europe

Switzerland's largest bank, UBS, plans to cut some 5,500 jobs.

Siberia's Lake Baikal, the world's deepest lake, is warming faster than anyone expected.

With Dmitry Medvedev set to take over as Russia's president, NPR reviews Vladimir Putin's record.

Today's Agenda

Russia and the United States are expected to sign a civilian nuclear cooperation accord today.

Chinese President Hu Jintao heads to Japan for a highly anticipated state visit.

It's Irish PM Bertie Ahern's last day on the job.

Yesterday on Passport

• An open letter to Stephen Colbert
• Eddie Izzard for EU president
• Baghdad rocks Cinco de Mayo