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Steve Jobs resigns as CEO of Apple

Steve Jobs resigned as the CEO of Apple Inc. on Wednesday, in a long expected move after he began a dramatic fight with cancer. He has been replaced by Tim Cook, who was previously Apple’s Chief Operating Officer. “I have always said if there ever came a day when I…

CBO: Budget deal cuts U.S. deficit in half over next decade

WASHINGTON (Reuters) – A sweeping U.S. budget deal has brightened the country’s fiscal outlook but unemployment will remain high over the near term, nonpartisan congressional forecasters said on Wednesday. The report by the Congressional Budget Office is likely to add fuel to the debate over jobs and the economy that…

US wants UN to free $1.5 billion of Libya aid

UNITED NATIONS — The United States called an urgent meeting of the UN Security Council on Wednesday to press for an easing of Libya sanctions so that it can send $1.5 billion of humanitarian aid. The 15-member council will meet from 3:00 pm (1900 GMT) to discuss a proposed US…

Moody’s cuts Japan debt rating

Major ratings agency Moody’s Investors Service downgraded Japan’s sovereign debt rating by one notch Wednesday, putting fresh pressure on the country’s political leaders to repair its finances. Moody’s said it was cutting Japan’s government bond rating to Aa3 from Aa2, citing the “large budget deficits and the build-up in Japanese…

Facebook makes sharing more selective

SAN FRANCISCO — Facebook on Tuesday announced it is rolling out improvements aimed at letting users be more selective about who gets to see what they post at the world’s largest online social network. The move came in the face of a challenge from a freshly launched Google+ social network,…

Biden: Super committee may not work

Vice President Joe Biden, aboard Air Force Two during his diplomatic tour of Asia, told reporters that he didn’t have total confidence that the so-called congressional super committee would be able to make the cuts needed. Biden told reporters that the committee has “a shot of getting a deal that…

British PM’s top aide was on News Corp. payroll while working for government

Former News of the World editor Andy Coulson, at the centre of phone hacking claims, was still being paid by the tabloid’s owners while employed as the Conservative Party’s media chief, the BBC said. Coulson received several hundred thousand pounds in severance pay after he began work in July 2007…

Student loans skyrocket, grants decline as college tuition spikes

It’s no secret that college is an expensive endeavor, one that continues to hit the wallet well after the graduation caps are tossed. Recent data shows that the student loan situation is growing worse every year: students are accruing more debt and not always paying it off on time. Mark…

Goldman CEO retains lawyer; shares slump

US banking giant Goldman Sachs said Monday its top executive Lloyd Blankfein had retained a private lawyer in connection with a US Senate investigation into the mortgage meltdown and the global financial crisis. The company said the chief executive and chairman had his own lawyer to deal with the possibility…

UBS announces 3,500 job losses

Swiss banking giant UBS on Tuesday announced plans to shed 3,500 jobs in order to make savings of some 2 billion Swiss francs (1.8 billion euros, $2.5 billion). UBS aims to make the personnel cuts “through redundancies as well as natural attrition”, the bank said in a statement.…

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