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Dollar to drop on S&P move; safe-haven demand seen

HONG KONG (Reuters) – The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P’s downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone. The S&P cut in…

Hacking encouraged, even prized, at Vegas geek fest

LAS VEGAS (Reuters) – There was a whole lot of hacking going on in Sin City this weekend — and right under the noses of federal agents. But in a sign of a time when cybersecurity is at the forefront of national security concerns, the feds were not lurking in…

Global policymakers discuss debt crisis, market turmoil

TOKYO/SEOUL (Reuters) – Global policymakers held an emergency conference call on Sunday to discuss the twin debt crises in Europe and the United States that are causing market turmoil and stoking fears of the rich world sliding back into recession. After a week that saw $2.5 trillion wiped off global…

Europe has ‘thrown away’ recovery: Brown

Nicolas Sarkozy and Angela Merkel have used the wrong measures to resolve the eurozone debt crisis and thrown away the chances of recovery, former prime minister Gordon Brown said Sunday. Brown said the French president and the German chancellor were exacerbating the financial crisis, which he said was “predictable,” in…

Investment guru Warren Buffett says US downgrade ‘doesn’t make sense’

Investing guru Warren Buffett criticized the Standard & Poor’s downgrade of the long-term US credit rating, saying it “doesn’t make sense” and would have a limited impact on markets. “I don’t get it,” the highly-respected founder and chairman of Berkshire Hathaway told Fox Business News late Friday, saying his Omaha,…

US fund Blackstone plans two big German wind farms

The US investment fund Blackstone plans to invest several billion euros in German wind farms, as the biggest economy in Europe will need the energy when it abandons nuclear power by 2022. Blackstone said Friday that it had finalised 1.2 billion euros ($1.7 billion) in financing to build what it…

Hacker group AntiSec declares ‘war’ on U.S. police

A hacker group on Saturday claimed it has “defaced and destroyed” websites at scores of US police agencies in retaliation for the arrest of suspected peers accused of hacking into the CIA, British crime agency SOCA, and Sony. The group called AntiSec — in reference to “anti-security” — said in…

$2 trillion error in S&P calculations: US Treasury

The US Treasury has hit back against a Standard and Poor’s downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency’s calculations. “A judgment flawed by a 2 trillion dollar error speaks for itself,” a Treasury spokesman said, just after the US lost…

U.S. said to be bracing for debt rating downgrade

Update: Rating agency said to be ‘reconsidering’ plan to lower U.S. debt rating According to ABC White House correspondent Jake Tapper, an anonymous government official has told ABC News that the Obama administration is “expecting and preparing for” a downgrade of its debt rating from AAA to AA or AA+…

Threat analyst says medical devices can be hacked remotely

LAS VEGAS — A computer threat analyst on Saturday will show a gathering of hackers how easy it is to wirelessly take control of an insulin pump on which a diabetic’s life could hinge. Jerome “Jay” Radcliffe’s demonstration at DefCon in Las Vegas will spotlight a critical need to build…

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