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IMF: Oil prices key risk to solid global recovery

WASHINGTON – The global economy is firmly on the mend in 2011 but faces rising headwinds, particularly from higher oil prices, the International Monetary Fund said Monday. The IMF said its latest world economic forecasts were little changed from a January update: 4.4 percent global growth in 2011, ticking down…

Winklevoss twins lose Facebook appeal

SAN FRANCISCO – A panel of federal judges on Monday ruled that Tyler and Cameron Winklevoss can’t back out of the settlement deal they made in a lawsuit charging that Mark Zuckerberg stole their idea for Facebook. “The Winklevosses are not the first parties bested by a competitor who then…

Sony cuts deal with PlayStation 3 hacker

SAN FRANCISCO (AFP) – Sony on Monday said a US hacker has agreed to stop breaking into PlayStation 3 (PS3) videogame consoles as part of a deal made to drop a lawsuit filed by the Japanese consumer electronics giant. “It was never my intention to cause any users trouble or…

Can’t pay the mortgage? Company will turn your house into a billboard

What would you give up to have someone else pay the mortgage on your home for a few months? If one of your answers is “pride,” Adzookie, a self-described mobile advertising company, may have a deal for you. Adzookie claims it will pay the mortgage on your house anywhere from…

Apple CEO Steve Jobs’ life story due in 2012

LOS ANGELES (Reuters) - Apple Inc CEO Steve Jobs will allow best-selling author Walter Isaacson, who chronicled the lives of Albert Einstein and Benjamin Franklin, to publish his biography next year. The Silicon Valley icon, who has battled a rare form of pancreatic cancer and undertook a liver transplant in 2009, granted exclusive interviews to the biographer over…

Gordon Brown admits ‘big mistake’ over banks

LONDON — Ex-prime minister Gordon Brown admitted that he made a “big mistake” in not seeking tighter regulations on banks in the lead up to the financial crisis. The former leader told a conference in the US that he had not fully appreciated how “entangled” the global financial system had…

Two-drug obesity therapy finds success in initial study

PARIS (AFP) – A new treatment for obesity that combines two existing drugs resulted in twice as much weight loss as the only approved long-term anti-obesity medication, according to a study released Monday. A mix of Phentermine and topiramate, sold under the brand name of Topamax, was shown in clinical…

Overweight? There’s an app for that

NEW YORK (Reuters Life!) – Worried about how many calories you are going to consume in that slice of pizza, chocolate cake or bag of fries? A new iPhoneapplication may help. After taking a picture of the meal with the phone, the app gives a calorie read-out almost instantly. The app, called MealSnap,…

Russia denies plans to ban Gmail, Skype

MOSCOW – The Russian security service denied Saturday it had plans to ban Skype and Gmail after one of its top officials said such services posed a serious security risk. The information and special communications director of the Federal Security Service (FSB) told a cabinet meeting Friday that he was…

China posts first quarterly trade deficit in 7 years

SHANGHAI – China said it had posted its first quarterly trade deficit in seven years, despite a narrow surplus in March, as rising commodity prices pushed manufacturers’ costs higher. China recorded a small trade deficit of $1.02 billion for the first quarter, its first since the beginning of 2004. But…

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