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Greeks hatch scheme to profit off air pollution

ATHENS (AFP) – Greece could earn up to 170 million euros for its cash-strapped treasury from a trade of greenhouse-gas emission allowances on the Athens stock exchange, a report said Sunday. Eleftherotypia daily said a first-ever auction of one million emission allowances (EUAs) will be held on Wednesday, ironically as…

U.S. finally penalizes major banks for mortgage modification failures

The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. The administration has long argued it has little power to do anything about it. But now, after millions of homeowners…

United States developing anti-censorship Internet systems

WASHINGTON — The US government is financing the development of “shadow” Internet systems to enable dissidents abroad to get around government censors, The New York Times reported on Sunday. The newspaper said the covert effort also includes attempts to create independent cellphone networks inside foreign countries. The operation involves a…

IMF hit by sophisticated cyberattack: report

WASHINGTON (AFP) – The International Monetary Fund (IMF) was the target of a sophisticated cyberattack earlier this year, the New York Times reported Saturday, quoting senior officials at the world lender. The global financial institution — which has been spearheading the response to the eurozone crisis in recent months —…

No new ‘drunk driving’ apps for Apple

WASHINGTON (AFP) – Apple, in a move hailed by a group of US senators, has agreed not to allow any new iPhone applications in the App Store that identify police drunk-driving checkpoints. Senators Harry Reid, Charles Schumer, Frank Lautenberg and Tom Udall urged Apple, Blackberry maker Research In Motion and…

Chinese ratings house: U.S. government already defaulting on debts

A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order. “In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating…

U.S. nuclear regulator withheld information: report

WASHINGTON (Reuters) – The head of the U.S. nuclear safety regulator did not break the law when he stopped a review of a proposed Nevada burial site for radioactive waste, but he “strategically” kept information from his fellow commissioners, the Wall Street Journal said, citing a report from the agency’s internal watchdog. The confidential report…

Nissan 350Z has highest driver death rate: report

WASHINGTON — US drivers of Nissan 350Z sports car and Titan pickup, as well as the humble Chevrolet Aveo run the most risk of dying in a crash, while Audi’s luxury A6 cruised in relative safety, according to an insurance report Thursday. Meanwhile sports utility vehicles (SUVs), formerly known as…

Breakthrough in battery technology could revolutionize electric vehicles

A new battery design developed by researchers at the Massachusetts Institute of Technology could transform the way electric vehicles and the power grid store and discharge energy. The MIT News Office reported that the new architecture suspends the active electrical components of a battery, such as positive and negative electrodes,…

Senators call for crackdown on ‘Bitcoin’ as drug traffickers move in

The Internet barter system known as “Bitcoin,” which makes it difficult for law enforcement to monitor online transactions, has raised the ire of two U.S. Senators who learned recently about a new website that lets Bitcoin users buy and sell illegal drugs. In a letter to Attorney General Eric Holder…

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