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Wall Street rises after Bernanke’s gloomy outlook

NEW YORK — US stocks closed higher Tuesday after Federal Reserve chief Ben Bernanke gave a gloomy assessment of the economy to Congress and said the Fed would act if the situation gets worse. Trade was volatile as investors appeared to shrug off Bernanke’s downbeat testimony to Senate lawmakers and…

Tetra Pak heir charged after wife’s death: police

LONDON — Billionaire Hans Kristian Rausing, the heir to the Tetra Pak fortune, was on Tuesday charged with preventing the lawful and decent burial of his US-born wife Eva, British police said. Police discovered the body of Eva Rausing at the couple’s home in London’s upscale Belgravia district last week…

Nazi war criminal revelation stokes Hungary fears

BUDAPEST — News that the Simon Wiesenthal Center’s most-wanted Nazi war criminal is living freely in Hungary is the latest incident to spark fears that the country is veering alarmingly to the right. In particular, there are concerns that anti-Semitism, largely dormant under Hungary’s communist era that ended two decades…

EU delivers harsh verdict on Romania’s respect for democracy

BRUSSELS — The EU executive delivered a harsh verdict on Romania’s respect for democratic values and threatened tighter policing to ensure respect for the rule of law, in a report seen by AFP on Tuesday. “A well functioning, independent judicial system, and respect for democratic institutions are indispensable for mutual…

New Dell fund will invest in data storage technology

SAN FRANCISCO — The chief of US computer maker Dell on Tuesday announced the launch of a $60 million fund focused on investing in technology for storing the massive amounts of data being collected by businesses. “We really believe in this explosion of data driven a lot by smartphones and…

HSBC compliance chief resigns at Senate hearing over ‘horrific’ actions

Executives with Europe’s biggest bank, HSBC, were subjected to a humiliating onslaught from US senators on Tuesday over revelations that staff at its global subsidiaries laundered billions of dollars for drug cartels, terrorists and pariah states. Lawmakers hammered the British-based bank over the scandal, demanding to know how and why…

Senate report: HSBC concealed £10 billion in transactions to Iran

Global banking giant HSBC and its US affiliate concealed more than £10 billion in sensitive transactions to Iran, violating US transparency rules over a six-year period, a Senate panel said Tuesday. HSBC executives were aware of the “concealed Iranian transactions” — which stripped all identifying Iranian information from documentation —…

Study: More than half of U.S. adults use cell phone and TV at the same time

In the new “multiscreen” world, more than half of American adults with mobile phones use them while watching television, including to check the veracity of what they see on TV, a survey showed Tuesday. The poll conducted by the Pew Research Center’s Internet & American Life Project found 38 percent…

FDA to rule on second new weight-loss drug in more than a decade

US regulators decide Tuesday on whether to approve the second new anti-obesity drug in 13 years, Qnexa, which studies have shown may help some people lose up to 10 percent of their body weight. The Food and Drug Administration last month approved Belviq by the US company Arena Pharmaceuticals, making…

Pentagon plans missile defense station in Qatar

The Pentagon is building a missile defense radar station at a covert location in Qatar, The Wall Street Journal reported Tuesday. The site will be part of a system intended to defend the interests of the United States and its allies against Iranian rockets, unnamed US officials told the newspaper.…

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