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BREAKING: Obama, congressional leaders strike deal to avoid debt default

President Barack Obama settled on a plan with congressional leaders to avoid debt default, announced just past 8:30 p.m. Sunday night. Senate Republican Leader Mitch McConnell, in a floor speech, reassured Congress that there was a plan in place. A vote is planned to take place Monday. “There is now…

Lawmakers close to deal to avoid default

WASHINGTON (Reuters) – Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default. The tantalizing possibility of an agreement raised hopes that a weeks-long partisan brawl over cutting…

Largest US credit union readies for possible budget crisis

The largest US credit union, which serves the military, is preparing for a possible US government budget crisis by offering to advance pay for members with direct deposit accounts, in the event that federal funds are cut off. The move comes as US lawmakers on Saturday engaged in a frantic…

Google buys up more than 1000 IBM patents

NEW YORK — Google has bought more than 1,000 technology patents from IBM as the Internet giant seeks to build up its portfolio and head off potential intellectual property suits. “Like many tech companies, at times we’ll acquire patents that are relevant to our business needs,” a Google spokesman said…

Anonymous claims to have ‘pwned’ defense contractor ManTech

A Twitter account associated with the hacktivist group Anonymous is claiming to have breached the security of defense contractor ManTech. “A Wild Release Appears: http://thepiratebay.org/torrent/6571301- Fuck FBI Friday III: ManTech Mayhem | Have fun :-) #AntiSec #FFFriday #FFF” the tweet reads. The linked file explains in more detail: “Ahoy thar,…

Reid to advance potentially final debt vote

Democratic US Senate Majority Leader Harry Reid announced he would take steps Friday that could set up a razor’s edge final vote on averting a disastrous debt default on an August 2 deadline. “This is likely our last chance to save this nation from default,” Reid said in remarks to open…

Global markets sinking in response to failure of GOP vote

NEW YORK (Reuters) – Stock index futures fell on Friday after lawmakers in Washington delayed a vote on a Republican proposal to raise the U.S. government’s debt limit. House of Representatives Speaker John Boehner’s failure to round up enough votes for his plan late Thursday exposed a rift in the…

House panel approves bill forcing ISPs to log users’ web history

The House Judiciary Committee approved legislation on Thursday that would require Internet service providers (ISPs) to collect and retain records about Internet users’ activity. CNET reported the bill would require ISPs to retain customers’ names, addresses, phone numbers, credit card numbers, bank account numbers, and temporarily-assigned IP addresses for 12…

IMF chief: Dollar status in doubt if debt crisis persists

WASHINGTON — IMF chief Christine Lagarde warned Thursday that failure to resolve the US debt crisis would likely raise “doubts” about the dollar’s status as the world’s prime reserve currency. “It would probably entail a decline of the dollar relative to other currencies, and probably doubts in the mind of…

Companies with ties to Madoff agree to $1 billion settlement

NEW YORK — Companies accused of aiding Bernard Madoff’s vast pyramid scheme have agreed to pay more than $1 billion to settle a fraud lawsuit, the trustee charged with recovering Madoff’s funds said Thursday. More than a dozen investment funds and a former chief executive of Tremont Group — accused…

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