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Separating fact from fiction on U.S. economic myths

by Michael Grabell, ProPublica With the recent Iowa straw poll and President Obama’s bus tour, Americans are hearing a cacophony of arguments about the wobbly economy. The federal stimulus package passed in 2009 was either a deficit-busting failure full of wasteful projects or an unparalleled rescue that would have been…

Stock futures indicate another day of losses

NEW YORK (Reuters) – Stock index futures pointed to a sharply weaker open for equities on Wall Street on Friday, a day after the Nasdaq ended more than 5 percent lower and the S&P 500 slipped 4.5 percent on rising recession fears. Futures for the S&P 500, for the Dow…

Recession scare sparks new plunge in U.S. stocks

NEW YORK — New worries about a second recession in the United States and Europe, prompted by an investment bank report, sent US stocks into a new sharp fall Thursday. The Dow Jones Industrial Average closed down 419.63 points (3.68 percent) to 10,990.58, following an earlier rout on Europe’s bourses.…

IBM unveils computer chips that mimic human brain

WASHINGTON — US computer giant IBM announced on Thursday that it has developed prototypes of computer chips that mimic the way the human brain works. The Armonk, New York-based company known as “Big Blue” said the experimental “cognitive computing chips” could eventually lead to machines that “emulate the brain’s abilities…

Study: Cell phone radiation may reduce sperm count

A study published this week (PDF) in the Journal of Andrology claims that prolonged exposure to cellular phone radiation may reduce sperm count and overall reproductive health in male humans and animals. Though the study cautions that much more research is needed, the conclusions are rather stark for male cell…

Consumer prices post biggest rise since March

WASHINGTON (Reuters) – Consumer prices rose faster than expected in July as gasoline rebounded sharply, but a moderation in underlying price pressures backed the Federal Reserve’s view of a low inflation environment. The Labor Department said its Consumer Price Index increased 0.5 percent, the largest gain since March, after falling…

‘Angry Birds’ exec says company worth billions

HELSINKI (Reuters) – An executive of Rovio, developer of the mobile game Angry Birds popular among users of Apple Inc’s iPhone, said the company was worth several billion dollars, according to Finnish magazine Kauppalehti Optio. Rovio Chief Marketing Officer Peter Vesterbacka told the magazine that a valuation of between $700…

Apple, China Mobile enter talks

HONG KONG (Reuters) – China Mobile said it hoped to launch Apple iPhones soon to accelerate uptake of high-end 3G services as it reported first-half profit at the top end of expectations. The world’s largest mobile operator by subscribers said it has met with Apple chief executive Steve Jobs several…

Stocks set to plunge ahead of bad jobless numbers

NEW YORK (Reuters) – Stock index futures pointed to a sharply lower open on Wall Street on Thursday, with futures for the S&P 500 down 2 percent, Dow Jones futures down 1.5 percent and Nasdaq 100 futures down 2.2 percent at 5:17 a.m. EDT. Japan’s Nikkei stock average dropped 1.3…

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…

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