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Iran condemns IEA decision to release oil stocks

TEHRAN (Reuters)- Iran condemned on Saturday a decision by oil consumer nations to release strategic crude stocks as politically motivated interference in the market that would not have a sustained impact on prices. “The measure by the International Energy Agency in consuming their oil stockpile is meddling in the natural…

ECB’s Mersch says Greek default would bring “chaos”

BASEL, Switzerland (Reuters) – European Central Bank Governing Council member Yves Mersch said on Saturday a Greek sovereign debt default would lead to chaos, adding it was up to the parliament to deliver on its austerity promises. Banks and policymakers moved closer to a deal on Friday to help Athens…

Central bank chiefs agree on measures for banks

GENEVA (AFP) – Central bank governors agreed Saturday on ways to help reduce the “moral hazard” of leading banks whose failure would bring chaos to world finance. The measures relating to so-called global systematically important banks were designed to strengthen their resilience and included raising their loss absorbency requirements. The…

Greece ‘confident’ over austerity vote: spokesman

ATHENS (AFP) – The Greek government is confident parliament will pass an austerity plan next week needed to unlock crucial EU-IMF aid in order to avoid default, a government spokesman said on Saturday. “We are totally confident,” government spokesman Ilias Mosialos told AFP. Parliament is scheduled to vote on the…

Peru halts Canada mining operations amid protests

LIMA (AFP) – Peru suspended a Canadian company’s mining project in the south of the country on Saturday following intense negotiations in the wake of deadly protests by mostly indigenous anti-mining activists, authorities said. The government enacted five laws including the revocation of a concession granted to Bear Creek Mining…

British teenage hacker denied bail, diagnosed with autism

LONDON (AFP) – A British teenager accused of attacking websites as part of an international hacking group was remanded in custody at a court Saturday, despite being diagnosed with autism. Ryan Cleary, 19, appeared at a London court charged with offenses including hacking into the website of the Serious Organised…

US regulators investigating Google over search

WASHINGTON (AFP) – US regulators have launched a probe into Google’s lucrative search and advertising business in a move that could pose the most serious legal challenge yet to the Internet giant. Google confirmed the US Federal Trade Commission (FTC) inquiry in a blog post and a filing with the…

Lawsuit claims Sony fired network security staff before PSN breach

Just two weeks before hackers stole millions PlayStation Network and Qriocity user accounts, Sony Corp laid off employees responsible for network security, according to a recently filed lawsuit. Reuters reported Friday that the class action lawsuit alleges the company spent lavishly to protect its corporate secrets but was less concerned…

Batphone app will record ultrasonic bat sounds

LONDON — Scientists have created a “batphone” by designing a smartphone app to help people capture the ultrasonic calls of bats in their area, the Zoological Society of London has revealed. The iBats app for iPhones and Android phones aims to make it easier to monitor local bat species, by…

FTC moving forward with broad Google antitrust probe: report

The U.S. Federal Trade Commission is reportedly preparing to serve Google with civil subpoenas in what will be a broad antitrust probe. People familiar with the matter told The Wall Street Journal that the subpoenas would be served within days. Other companies were expected to be subpoenaed about their dealings…

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