WASHINGTON – Bailed-out insurance giant AIG repaid $6.9 billion of a US government bailout Tuesday, using proceeds from the sale of its stake in industry rival MetLife, the US Treasury said. A Treasury statement said that American International Group used $6.6 billion of the $9.6 billion it received from the…
LONDON – Developed nations have become “dangerously over-reliant” on satellite navigation systems such as GPS, which could break down or be attacked with devastating results, British engineers said Tuesday. The Royal Academy of Engineering said the application of the technology was now so broad — from car sat-navs to the…
STRASBOURG – The European Commission on Tuesday set out recommendations for EU states to radically slash CO2 emissions by 2050, but avoided upsetting governments or industry with precise targets. Climate action commissioner Connie Hedegaard and energy colleague Guenther Oettinger laid out their “roadmap” to 2050, but stressed that its success…
GENEVA – The UN expert on food rights on Tuesday urged regulation of agriculture commodities trading to stop a speculative bubble that is artificially helping to drive up food prices. Olivier De Schutter, the UN special rapporteur on the right to food, warned that the situation may be amplified by…
WASHINGTON– The United States expressed concern Tuesday over the disappearance of prominent Chinese lawyers and activists in China. Up to 100 leading rights lawyers and activists have disappeared since mid-February, campaigners said, as police launched a crackdown to try to avert any political unrest echoing popular uprisings in the Arab…
WASHINGTON – US Ambassador to Libya Gene Cretz and other US officials met in Cairo with members of the opposition seeking to topple Libyan leader Moamer Kadhafi, the State Department said Tuesday. The State Department declined to identify Cretz’s interlocutors but said Washington has been in contact with opposition members…
WASHINGTON – US President Barack Obama and British Prime Minister David Cameron agreed Tuesday to plan a “full spectrum” of action on Libya, including a possible no-fly zone, surveillance and a relief effort. Obama and Cameron spoke amid calls for immediate international action to halt Moamer Kadhafi’s crackdown on rebels…
NEW YORK – The trial of former hedge fund tycoon Raj Rajaratnam began Tuesday in New York with the painstaking selection of a jury in a case prosecutors see as an example of Wall Street corruption and greed. Sri Lankan-born Rajaratnam, 53, used insider information at his Galleon Group fund…
BERLIN – The US Treasury Secretary said Tuesday the global economy was at its healthiest for several months, in bullish remarks on a whirlwind trip to Germany where he also discussed the euro crisis. Speaking after a meeting with Wolfgang Schaeuble, Germany’s finance minister, Timothy Geithner said: “We see a…