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Tokyo Electric says $24 billion loans not enough

TOKYO (Reuters) – Tokyo Electric Power warned on Wednesday that a $24 billion bank loan was not enough to keep it afloat and pay for Japan’s worst nuclear disaster, adding to expectations the government will step in to bail out the stricken company. Asia’s largest utility, whose share price has crashed nearly…

Nuclear fears spark rush for radiation detectors

WASHINGTON – A scare over irradiated food from Japan has sparked a global rush to buy radiation detectors, US dealers said Tuesday, with most reporting they have no more stock to sell. Buyers, especially from Pacific rim countries, are snapping up geiger counters amid worries that radiation from the hobbled…

Beatles songs sales cost music website $950,000

SAN FRANCISCO – US online music service Bluebeat will pay British recording label EMI nearly a million dollars to avoid trial in a case over rights to stream and sell versions of Beatles songs. Along with paying $950,000, Bluebeat agreed to “permanently cease and desist” from infringing on copyrighted music…

BP managers may face manslaughter charges: report

Managers who were onboard the doomed Deepwater Horizon oil rig may face manslaughter charges over the deaths of 11 workers in last year’s mega-disaster that swamped the Gulf of Mexico with tar and crude. “People familiar with the matter” reportedly informed Bloomberg News of the possible charges. They also said…

‘Anonymous’ briefly knocks Warner Bros. Records’ website offline

In protest of a lawsuit against the file-sharing company LimeWire, the decentralized community of hacktivists known as “Anonymous” briefly knocked the website of Warner Bros. Records Inc. offline on Monday. Warner Bros. Records and 12 other record companies are seeking $400 billion to $75 trillion in damages from LimeWire after…

Sprint wants AT&T, T-Mobile deal blocked

WASHINGTON – Sprint Nextel, the third-largest US wireless provider, urged US regulators on Monday to block AT&T’s $39 billion acquisition of T-Mobile USA, saying it would harm competition. “Sprint urges the United States government to block this anti-competitive acquisition,” Sprint senior vice president for government affairs Vonya McCann said in…

Japanese corporations agree to forgo tax cuts, for good of their country

Hiromasa Yonekura, chairman of the Japan Business Federation, said the influential lobby would not fight the government if it decided to shelve a plan to lower the corporate tax rate, which at around 40 percent is among the highest in the industrialized world. Economics Minister Kaoru Yosano suggested last week the government…

Consumer spending up for eighth consecutive month

WASHINGTON (Reuters) - U.S. consumer spending rose for an eighth straight month in February as households tapped savings to cover higher food and energy prices. Spending rose 0.7 percent in February after a 0.3 percent increase in January, and inflation accelerated at its fastest pace since June 2009, the Commerce Department said on Monday. Adjusted…

Former Obama spox Gibbs in talks with Facebook

WASHINGTON (Reuters) – Facebook, the social networking giant, is seeking to hire former White House press secretary Robert Gibbs for a senior post, The New York Times reported. The newspaper reported on its website late on Sunday that Facebook is looking at Gibbs, once one of President Barack Obama’s closest aides, to help manage communications in advance of…

Wi-Fi cars hitting the information superhighway

WASHINGTON (AFP) – More cars are hitting the information superhighway thanks to new automotive Wi-Fi technology that allows vehicles to become rolling “hot spots.” Analysts say consumers are warming to the notion of more connectivity in their cars, with “apps” for information and entertainment just as they have with their…

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