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Need to Know News:  Man in custody in 1979 Etan Patz case; Syria's conflict stirs up old rivalries in Lebanon
May 24th, 2012
09:47 AM ET

Need to Know News: Man in custody in 1979 Etan Patz case; Syria's conflict stirs up old rivalries in Lebanon

Each day, we here at "Piers Morgan Tonight" put together the news you need to know – from what happened last night to what will happen today.

For May 24, 2012 – Man in custody in 1979 Etan Patz case, Syria's conflict stirs up old rivalries in Lebanon and Will Smith on the red carpet slap heard 'round the world...

• Man in custody in 1979 Etan Patz case: "A man in custody has implicated himself in the 1979 disappearance of 6-year-old Etan Patz, Commissioner Ray Kelly of the New York Police Department said Thursday. However, a law enforcement source told CNN the man's claims are being treated with 'a healthy dose of skepticism.'"

• Syria's conflict stirs up old rivalries in Lebanon: "The deadly clashes that are a fact of daily life in Syria have now bled into Lebanon, where a series of sectarian shootouts this week are raising fears that a period of relative calm for the country may be nearing an end."

• Edwards trial jury deliberating for fifth day: "Jurors in former Democratic presidential candidate John Edwards' corruption trial were set to begin a fifth day of deliberations Thursday, weighing the former North Carolina senator's fate after four weeks of testimony."

• Morgan Stanley made money on Facebook share drop: "Even as Facebook's shares dropped, causing losses for regular investors, Morgan and other underwriters of the company's IPO likely racked up big profits trading the social media company's shares. In fact, Morgan Stanley and the other banks who were selling Facebook shares to the public were positioned to make more money the lower Facebook's shares went."

Will Smith on the red carpet slap heard 'round the world': "Will Smith may have gotten a little .... combative, shall we say, with a reporter on the red carpet last week after said journalist planted one on the "Men in Black III" actor. But it's not like he beat him up. Smith clarified as much on David Letterman's "Late Show" Tuesday night, explaining that he was in the midst of an interview in Moscow when the journalist asked for a hug."

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