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Wall St. wives got a secret $220 million bailout from the Fed: report
A report in the latest edition of Rolling Stone magazine made waves Wednesday for revealing what it called a secret, roundabout bailout of $220 million, given to Wall Street wives by the U.S. Federal Reserve. “According to popular legend, we’re broke and in so much debt that 40 years from…
AP falls for hoax: General Electric is not donating $3.2 billion to the U.S. Treasury
Update (below): ‘The Yes Men’ take credit for stunt Through the use of legal tax shelters and benefits, General Electric (GE), the largest corporation in the world, was on track to pay approximately nothing in U.S. taxes on more than $14.2 billion in profits last year. Facing public outcry over…
FCC warns of ‘spectrum crunch’ from smartphones, iPads
LAS VEGAS (Reuters) – Some U.S. airwaves used for free, over-the-air TV signals must be repurposed for mobile broadband use to tackle a looming spectrum crisis, the top U.S. communications regulator said on Tuesday. The Federal Communications Commission wants Congress to grant it authority to hold incentive auctions that would compensate television broadcasters for giving…
Facebook saga grows with new legal drama
SAN FRANCISCO – The drama of the Facebook story heightened on Tuesday as a man with a shady past used old emails and a powerful law firm to press his claim to half the online social networking firm. A legal claim filed last year by Paul Ceglia and deemed dubious…
San Francisco considers requiring ID scans for most public events
The San Francisco Entertainment Commission was scheduled Tuesday to consider a proposal that would mandate ID scans for every person entering a “place of entertainment” attended by more than 100 people — a move that immediately sparked the fears of civil libertarians, who saw it as yet another encroachment of…
The greenest car you’ve (likely) never heard of
GREENSBURG, Indiana — The greenest car you’ve likely never heard of will soon be hitting Honda showrooms across the United States as the Japanese automaker expands sales of its compressed natural gas powered Civic. Honda has been quietly winning green car awards for more than a decade as it cautiously…
In Indonesia, tobacco smoke promoted as cancer cure
JAKARTA (AFP) – An Indonesian woman exhales cigarette smoke into the mouth of a gaunt, naked patient at a Jakarta clinic, where tobacco is openly touted as a cancer cure. The Western patient is suffering from emphysema, a condition she developed from decades of smoking. Along with cancer and autism,…
Banking culture still rewards risk, pays too well: survey
LONDON (Reuters) – Banks need to do more to shift away from a culture of risk and the excessive pay structures that prevailed before the financial crisis, an industry report said. Banks have made progress since 2008 as top management and boards have become more involved in setting risk policy…
Chasing Apple, Nokia unveils two new smartphones
HELSINKI (Reuters) – Nokia unveiled on Tuesday two new smartphone models running on improved Symbian software, a stop-gap measure aimed at stemming customer defections to rivals like Apple. Nokia has lost its lead in the high end of the cellphone market after Apple unveiled the iPhonein 2007. In February, Nokia’s new…
IMF: Oil prices key risk to solid global recovery
WASHINGTON – The global economy is firmly on the mend in 2011 but faces rising headwinds, particularly from higher oil prices, the International Monetary Fund said Monday. The IMF said its latest world economic forecasts were little changed from a January update: 4.4 percent global growth in 2011, ticking down…
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- Electric carmaker Tesla Motors pays off government loan 9 years early
- South Carolina governor appointed white supremacist to steering committee
- International theft of U.S. intellectual property costs $300 billion per year: report
- House Foreign Affairs Committee approves harsh new Iran sanctions
- Eric Holder officially admits U.S. drone strikes killed four Americans
- Anti-abortion leader faces criticism after comparing rape to car accidents
- FDA approves first study on ecstasy-assisted therapy for social anxiety in autistic adults
- Sen. Bernie Sanders pushes to allow states to label genetically engineered foods
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