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US stocks plunge, Dow falls more than 500 points

The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop in more than two years, as global markets melted down over fears of another world economic downturn. The Dow was down 512.76 points to 11,383.68; the broader S&P 500 lost 4.8 percent to 1,200.07, while the tech-heavy…

U.S. markets plunge; Dow loses 500 points

Update: Just minutes from the closing bell, the Dow was down about 500 points. US stock markets plunged Thursday, as worries over global growth grew following a rout in Europe’s markets driven by sovereign debt fears and more poor US data pointing to the economy stalling. At 1600 GMT the…

DHS calls Anonymous hackers untalented ‘script kiddies,’ warns of future attacks

A Department of Homeland Security threat assessment released publicly this week labels hackers with the online protest group “Anonymous” as possessing only “rudimentary” hacking skills, calling them “script kiddies” who use exploits created by others to break into secured systems. However, the department warns that a more talented faction of…

Microsoft offers big money prize for foiling hackers

LAS VEGAS — Microsoft on Wednesday kicked off a contest aimed at turning the tables on hackers by offering big money prizes for innovative tactics to foil cyber attacks. The US software titan launched the premier BlueHat Prize competition at a major Black Hat computer security conference in Las Vegas.…

U.S. indirectly supplies guns that fuel Somalian conflict

By Robert Johnson In its fight against al Qaeda in Somalia, the U.S. is sending hundreds of millions dollars in weapons to Ugandan soldiers, who are selling the arms to the men they’re fighting. A new report by the United Nations and picked up by Somalia Report lays out how the $500…

U.S. private sector job growth slows in July

WASHINGTON — The US private sector hiring slowed in July, a private survey showed Wednesday, as the economy slowed and uncertainty rose from the political battle over raising the country’s debt ceiling. Payrolls firm ADP said a net 114,000 jobs were created by private, non-farm businesses, compared to 145,000 in…

South Korea fines Apple $2,855 over location data

SEOUL (Reuters) – Apple Inc’s South Korean unit has been fined 3 million won ($2,855) by the country’s communications regulator after the iPhone and iPad maker collected location data from users without proper authorization. The fine, though small, marks the first time Apple has been punished by a regulator over…

After bruising debt battle, Obama pivots to jobs

Admitting a bruising debt-limit battle has likely hampered US recovery, President Barack Obama urged polarized lawmakers to help the job-hungry economy put out the “now hiring” sign. Stung by the bitter feud, Obama is eager to change the subject to economic growth and putting Americans back to work. “In the…

UN, U.S. targets of major cyber spying campaign: report

Over 70 organizations including the United Nations and major US defense groups have been targets of a global cyber spying effort, according to security firm McAfee, with analysts pointing to China as the culprit, the Washington Post said Wednesday. Targets for the intrusions — identified from logs tracked to a…

Moody’s upholds United States’ AAA rating, but outlook ‘negative’

WASHINGTON — Rating agency Moody’s upheld its triple-A rating for the United States on Tuesday after Congress passed new legislation to raise the debt ceiling that averted a possible default. But Moody’s added a “negative outlook” on the grade, saying a historic downgrade could still come if fiscal discipline weakens…

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