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Most U.S. docs face malpractice suits but few pay

WASHINGTON — More than three in four US doctors will face a malpractice suit at some point in their careers, but cash is paid in only about 20 percent of cases, said a US study released Wednesday. The analysis by researchers at several major US medical schools and the RAND…

James Murdoch admits News Corp. paid off convicted criminal

The son of Rupert Murdoch has admitted in a letter to British lawmakers that he authorized large payments to a convicted criminal, seemingly in exchange for his silence about his company’s activities. Under questioning by members of Parliament last month, James Murdoch, CEO of News International, said he was not…

Bank of America weighs foreclosure deal

(Reuters) – Bank of America Corp may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, Bloomberg reported citing two people with direct knowledge of the matter. The firm may pursue an accord with most of the…

Staples tops estimates, raises profit outlook

The news boosted Staples’ shares by 8.3 percent to $15.40 in premarket trading. Smaller rivals have also shown some improvement on the profit front lately, with Office Depot<ODP.N> reporting a smaller-than-expected quarterly loss andOfficeMax <OMX.N> posting better-than-expected earnings. Many investors look at office supply retailers as a good gauge of the economy…

US credit crisis shocks Chinese consumers

Spurred on by state media which have let rip at the “debt-riddled” United States, the Chinese have listened with wide-eyed amazement to tales of American people living well beyond their means. The US credit crisis has brought to light a fundamental difference between thrifty consumers in China — the largest…

Lightning strike injures eight at Florida water park

Eight people were injured in a lightning strike at SeaWorld’s Discovery Cove water park in Orlando, Florida, authorities said. “Three guests and five employees suffered from an indirect strike shortly before 5:00 pm (2100 GMT),” said park spokesman Nick Gollattscheck. “Some of the victims reported a tingling sensation and were…

Tobacco firms sue US over graphic cigarette labels

Four tobacco companies filed a lawsuit against the US Food and Drug Administration (FDA) over what they say are unconstitutional requirements for warning labels on US cigarette packaging. The third largest cigarette manufacturer in the United States, Lorillard, Inc., said they were “challenging nine new cigarette warnings as an unconstitutional…

PayPal founder’s next project: Libertarian island nations

Peter Theil, the billionaire investor who co-founded Internet payments processor PayPal and made a key initial investment in Facebook, has a whole new idea occupying his time lately: according to a profile published in Details magazine Tuesday, he wants to build a series of island nations governed by a strict…

White House checks in with foursquare

WASHINGTON — The White House, in its latest social media foray, has joined the popular location-sharing service “foursquare.” A White House page on foursquare had attracted more than 12,600 followers by Tuesday morning, less than 24 hours after it was created. The White House said in a blog post that…

Probe to examine two years worth of DARPA contracts

A published report this week confirmed that the Pentagon is launching a probe that will look at the last two years worth of contracts handed out by the Defense Advanced Research Projects Agency (DARPA), to ensure there are no conflicts of interest or wasteful spending. The decision was made, a…

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