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New IMF chief Lagarde issues dire warning on U.S. debt default

New IMF chief Christine Lagarde warned on Sunday that a US debt default would jeopardize global economic stability and urged warring American politicians to forge a compromise budget deal. A default “would certainly jeopardize the stability, but not just the stability of the US economy, it would jeopardize the stability…

China’s trade surplus widens to $22.27 billion

SHANGHAI — China’s politically sensitive trade surplus expanded to $22.27 billion in June, rising sharply from the previous month as the value of exports hit a new record high, government data showed Sunday. The trade surplus — a major point of tension for China’s key trade partners, the United States…

Heirs, US govt battle in court over rare coins

The heirs to a renowned Philadelphia jeweler are locked in a court battle with the US government over the ownership of 10 rare gold coins from 1933 worth an estimated $75 million. The government contends the coins were stolen because the 1933 Double Eagles, worth $20 when they were minted,…

Berlusconi firm fined 560 million euros in bribery appeal

A Milan appeals court Saturday ordered Italian Prime Minister Silvio Berlusconi’s holding company Fininvest to pay 560 million euros to rival media group CIR in a bribery case, a judge told the ANSA news agency. In October 2009, a Milan civil court ruled that Compagnie Industriali Riunite (CIR) was entitled…

Entry-level salaries up for new graduates

Though the U.S. economy is still in a slump and the jobs numbers released Friday are still dire, with a rise to 9.2 percent unemployment (the highest rate this year), there is good news. There may not be many entry-level jobs—or at least, fewer people working—but data released by the…

Analysis: Budget-cutting could cripple recovery

NEW YORK (Reuters) – Two years removed from its worst recession since World War Two, the U.S. economy is still struggling to create jobs, and things could get even tougher if all the talk of belt-tightening in Washington becomes reality. Data on Friday showed hiring ground to a near halt…

Exclusive: Colorado’s dueling marijuana initiatives threaten to confuse voters

Two distinctly different initiatives to end marijuana prohibition in Colorado are on a collision course over legislative language that local reform activists warn could “paint a target” on the backs of recreational marijuana consumers. While it’s not clear that would indeed be the result, the two groups — Legalize 2012…

Visa again blockades WikiLeaks’ credit card donations

U.S. credit card provider Visa said Thursday that a payment processor in Iceland briefly opened the floodgates to donations to secrets outlet WikiLeaks, so they took the necessary steps to close them again. Icelandic payments processor DataCell had said the blockade was lifted yesterday after months of stalling from Visa…

Twitter valued at $8 billion

The US micro-blogging website Twitter is gaining value and is now worth an estimated $8 billion, the New York Times reported Friday. The newspaper, citing two people briefed on the matter, said the popular website is in the process of raising $400 million in a deal that has provided the…

Hackers break into Washington Post jobs site

(Reuters) – Hackers broke into the Washington Post Co’s jobs website in two incidents last month, affecting more than a million user IDs and emails, the company said on its website. The company said about 1.27 million users’ IDs and email addresses were affected but no passwords or other personal…

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