10 things you need to know today: July 12, 2012

1. REPORT ON PENN STATE'S HANDLING OF SANDUSKY TO BE RELEASED

Former FBI director and federal judge Louis Freeh is set to release a report on Penn State's handling of the Jerry Sandusky scandal Thursday morning. University trustees commissioned and paid for the investigation. The report is set to be posted online for the public at 9 a.m., the same time the Penn State Board of Trustees will receive it. Emails leaked from the probe suggest that university officials were aware of allegations that Sandusky was sexually abusing young boys and sought to resolve the matter internally rather than going to authorities. The Freeh report could play a role in the upcoming trials of two school administrators, Tim Curley and Gary Schultz, who have been charged with lying to a grand jury and not properly reporting child abuse. [Associated Press]

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2. VOTERS TROUBLED BY ROMNEY'S MONEY

According to a new Gallup poll, 20 percent of registered voters say Mitt Romney's wealth makes it less likely they will vote him. Voters with that viewpoint tended to be independents and Democrats. Seventy-five percent of those surveyed said the presumed GOP nominee's wealth would have no bearing on their vote. [Politico]

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3. JACKSON JR. BEING TREATED FOR "MOOD DISORDER"

Through the office of Rep. Jesse Jackson Jr. (D-Ill.), an unnamed doctor released a statement saying that "the congressman is receiving intensive medical treatment at a residential treatment facility for a mood disorder." A staffer says that, contrary to rumors, Jackson is not "being treated for alcohol or substance abuse." Jackson went on medical leave more than a month ago but didn't make it public until two weeks after the fact. Mood disorders can range from seasonal affective disorder to major depression, mania, and bipolar disorder. [Chicago Tribune]

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4. U.S., CHINA MEET TO DISCUSS SOUTH CHINA SEA

Amid the Association of Southeast Asian Nations' annual conference, U.S. Secretary of State Hillary Clinton met with Chinese Foreign Minister Yang Jiechi on Thursday regarding territorial disputes in the potentially oil-rich South China Sea. Both the U.S. and China stressed cooperation, and Clinton called on all involved to not issue threats. China, the Philippines, Vietnam, Taiwan, Malaysia, and Brunei have all been involved in long-standing disputes over the territory, and many fear that the disputes could ignite a violent conflict. [Associated Press, Reuters]

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5. SYRIA FIRES DEFECTING AMBASSADOR

Syrian authorities say the Syrian ambassador to Iraq has been "relieved of his duties." The announcement came just one day after the ambassador, Nawaf al-Fares, stepped down and joined the opposition, calling the regime "malicious" and "the killer of the people." He is the highest ranking diplomat to defect and the second high-profile official to abandon the regime in the last week. [CNN]

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6. RUSSIAN TV PROVIDER DROPS FOREIGN NEWS STATIONS

Arkado, a dominant internet TV provider in Russia, has dropped the BBC, Bloomberg TV, and CNN, citing reasons "beyond its control." Many speculate that the company is bowing to government pressure, and that the move is part of a larger plan to suppress free information and political speech. [Washington Post]

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7. JUDGE EXTENDS LIFE OF MISSISSIPPI ABORTION CLINIC

In Mississippi, a federal judge on Wednesday extended his temporary order allowing the state's only abortion clinic to remain open. The reprieve will be in place while a U.S. dictrict judge reviews a new abortion law in the state that requires abortion providers to be OB/GYNs with hard-to-obtain admitting privileges at a local hospital. The doctors providing abortions at Mississippi's one clinic typically come from other states, and some say the new law is part of a plan to make abortion illegal in the state. Proponents of the law say it's merely meant to protect women from unscrupulous doctors. [CNN]

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8. EURO HITS TWO-YEAR LOW

The euro sank to a two-year low Thursday, falling to a value of $1.21725. The dwindling likelihood of U.S. monetary stimulus, the European Central Bank's decision to cut interest rates, and Europe's ongoing debt crisis all served to buoy the dollar and drag the euro down. [Reuters]

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9. ALZHEIMER'S RESEARCHERS MAKE BIG DISCOVERY

Decades ago, researchers found rare gene mutations that lead to Alzheimer's disease in all who inherit them. Now, they've found gene mutations that actually serve to protect the brain from the debilitating disease by slowing the buildup of a normal substance called beta amyloid in the brain. Doctors say the discovery is "hugely important" for drugs being developed to fight Alzheimer's. [New York Times]

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10. ROLLING STONES CELEBRATE 50TH ANNIVERSARY

The Rolling Stones will celebrate the 50th anniversary of their first live gig on Thursday with a photographic exhibition in London. Guitarist Keith Richards said the band has convened for a "couple of rehearsals" recently, adding to rumors that the Stones may have another world tour in the works. [Reuters]