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Goldman Sachs eyes major cuts: report

Goldman Sachs is mulling drastic spending cuts as it braces for what could be one of its worst quarterly reports since it went public more than a decade ago, the New York Times reported Tuesday. After Goldman set out this summer to cut costs by $1.2 billion by mid-2012, including…

World stocks surge on eurozone debt hopes

Global stocks rallied for a second day with a strong advance in Europe and Asia on Tuesday on signs that EU and world leaders are preparing a blockbuster response to the eurozone debt crisis. The euro steadied against the dollar as Greek Prime Minister George Papandreou headed for talks with…

Twitter opening international base in Ireland

Twitter, the San Francisco-based micro-blogging website, is to open an international office in Dublin, the Irish Industrial Development Agency announced — in a tweet. “Ireland is trending. Twitter to establish international office in Dublin,” the message said. Twitter joins a band of high-profile technology and computer multinationals with bases in…

Greece makes ‘superhuman effort’ to slash debt

Greece is making a “superhuman effort” to slash debt, Prime Minister George Papandreou said Tuesday as he prepared to meet German Chancellor Angela Merkel for crunch talks on tackling the eurozone crisis. Papandreou hit out at Greece’s critics, saying that to single out Athens for “punishment and scorn” was anything…

Senators move to avert government shutdown

WASHINGTON — Spurred on by the White House, divided US Senators moved late Monday to avert a government shutdown at week’s end and defuse an angry battle over disaster relief in Hurricane Irene’s wake. But the emerging deal did not provide any immediate money for a key Federal Emergency Management…

Obama: Europe crisis scaring world

MOUNTAIN VIEW, California — US President Barack Obama on Monday complained that Europe’s financial crisis was scaring the world and was rooted in the eurozone’s failure to fix its banks. In a new sign of US frustration about a situation that many in Washington fear could further derail the US…

Strauss-Kahn claims immunity in U.S. civil case

NEW YORK — Dominique Strauss-Kahn claimed immunity Monday as he sought the dismissal of a US civil case, accusing a hotel maid of inventing sexual assault claims that derailed his efforts to right the global economy. “As managing director, which is the chief executive position at the IMF, Mr. Strauss-Kahn…

U.S. weighs blacklisting Haqqani network

WASHINGTON — The Obama administration is considering placing the Haqqani network on its list of terror groups after blaming the militants for deadly attacks in Afghanistan, a US official said Monday. Seven leaders of the Haqqani network, which operates from safe havens in Pakistan and was founded by former CIA…

Facebook forms political action committee

WASHINGTON — Facebook said Monday that it is forming a political action committee (PAC) for employees of the social network to make contributions to candidates. Most large US corporations have established PACs, which are allowed to donate $5,000 to a candidate per election and up to $15,000 annually to a…

Lockerbie bomber will not face new prosecution

TRIPOLI — Libya’s transitional justice minister Mohammed al-Alagi said on Monday that Abdelbaset al-Megrahi, the only person convicted in the 1988 Lockerbie bombing, should not face a new prosecution. His comments came after officials said prosecutors in Scotland had formally asked Libya’s new government to help them with the investigation…