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Alabama county files biggest municipal bankruptcy

BIRMINGHAM, Alabama (Reuters) – Alabama’s Jefferson County filed for bankruptcy court protection on Wednesday in the biggest municipal bankruptcy in U.S. history. Commissioners for the county, which is home to Birmingham, the state’s biggest city and economic powerhouse, voted 4-1 to declare bankruptcy after meeting behind closed doors for two…

U.S. brokerage bankrupt over euro debt losses

Struggling US brokerage firm MF Global has filed for bankruptcy after confidence in the company was shattered by a string of losses from European public debt holdings. The firm filed for Chapter 11 bankruptcy protection in a Manhattan bankruptcy court on Monday, making it the first major US casualty from the European debt crisis. While MF Global…

Dalai Lama pokes fun at China slurs, slams censorship

The Dalai Lama on Saturday slamed censorship in China as “immoral” and poked fun at denunciations of himself in a video chat with Desmond Tutu after he was not granted a visa in time to travel to South Africa. The exiled Tibetan spiritual leader’s absence was symbolised by an empty…

Dems make last-ditch attempt at passing ‘don’t ask’ repeal

WASHINGTON — Senate Majority Leader Harry Reid plans to schedule a vote to end the Pentagon’s ban on gays serving openly in the military before the start of the new Congress in January. “During the work period following the Thanksgiving holidays, I will bring the Defense Authorization bill to the…

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