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Senate panel says Goldman ‘clearly misled’ clients, Congress

WASHINGTON (Reuters) – In the most damning official U.S. report yet produced on Wall Street’s role in the financial crisis, a Senate panel accused powerhouse Goldman Sachs of misleading clients and manipulating markets, while also condemning greed, weak regulation and conflicts of interest throughout the financial system. Carl Levin, chairman…

Greenpeace urges Facebook to ‘like’ green energy

SAN FRANCISCO (AFP) – A handful of Greenpeace activists was outside Facebook headquarters on Wednesday, calling on the social network to “unfriend” coal energy for powering data centers and other operations. Members of the international environmental group set up a large computer screen to display comments streaming in from around…

BP faces angry protests at first annual shareholders’ meeting since spill

LONDON (AFP) – BP was facing angry protesters and disgruntled shareholders on Thursday at its first annual general meeting since a massive oil spill in the Gulf of Mexico. The meeting in London is taking place almost a year since the explosion on the Deepwater Horizon rig killed 11 workers…

Google and Bing gain as Yahoo slips in search

SAN FRANCISCO — Google and Bing gained ground in the US Internet search market in March at the expense of Ask, AOL, and Yahoo!, according to figures released Wednesday by industry tracker comScore. Google continued to be the prime tool used to seek online information, handling 65.7 percent of “explicit”…

Air Pacific cancels order for 8 Boeing 787s

NEW YORK — Fiji’s Air Pacific has canceled its order for eight Boeing 787 aircraft, the US aerospace giant said Wednesday, the latest blow for its delay-plagued Dreamliner program. “Boeing confirms that Air Pacific no longer is a Boeing 787 customer,” the Chicago-based firm said in an email to AFP…

FBI disables ‘Coreflood’ botnet, seizes servers

WASHINGTON – The US authorities have disabled a vast network of virus-infected computers used by cyber criminals to steal passwords and financial information, the Justice Department and FBI announced Wednesday. The “Coreflood” botnet is believed to have operated for nearly a decade and to have infected more than two million…

Gold prices to strike records ‘above $1,600 this year’

LONDON – Record-breaking gold will likely surge past $1,600 per ounce for the first time later this year, driven by fears over high inflation and low global interest rates, consultancy GFMS forecast Wednesday. “We would not be surprised … to see gold break through $1,600 before the end of the…

Wall St. wives got a secret $220 million bailout from the Fed: report

A report in the latest edition of Rolling Stone magazine made waves Wednesday for revealing what it called a secret, roundabout bailout of $220 million, given to Wall Street wives by the U.S. Federal Reserve. “According to popular legend, we’re broke and in so much debt that 40 years from…

AP falls for hoax: General Electric is not donating $3.2 billion to the U.S. Treasury

Update (below): ‘The Yes Men’ take credit for stunt Through the use of legal tax shelters and benefits, General Electric (GE), the largest corporation in the world, was on track to pay approximately nothing in U.S. taxes on more than $14.2 billion in profits last year. Facing public outcry over…

FCC warns of ‘spectrum crunch’ from smartphones, iPads

LAS VEGAS (Reuters) – Some U.S. airwaves used for free, over-the-air TV signals must be repurposed for mobile broadband use to tackle a looming spectrum crisis, the top U.S. communications regulator said on Tuesday. The Federal Communications Commission wants Congress to grant it authority to hold incentive auctions that would compensate television broadcasters for giving…

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