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US to sell final Citigroup holding Tuesday

The US government plans to sell its last holding in rescued banking giant Citigroup, the Treasury Department said Monday. The Treasury said it would hold a one-day public auction Tuesday of its remaining 465 million warrants in the bank. “The proceeds of this sale will provide an additional return to…

Oil price hits two-year high

LONDON — The price of oil struck a two-year peak above 98 dollars per barrel here on Wednesday as a trans-Alaskan pipeline, which carries 12 percent of US production, remained shut following a leak. Traders were meanwhile awaiting Wednesday’s publication of official weekly crude inventory data for the United States…

Amazon share price plunges ahead of promised cyber ‘payback’ for WikiLeaks censorship

Update: Dutch authorities have reportedly arrested a 16-year-old they claim is connected to ‘Anonymous’ Is the world witnessing its first wave of digital sit-ins? A group of “hacktivists” calling themselves “Anonymous” has been waging an “all-out cyber war” the last several days against corporate and public entities that have acted…

S. Korean president vows to make Pyongyang ‘pay the price’ for attack

South Korean President Lee Myung-Bak on Monday vowed to make North Korea “pay the price” for its “inhumane” artillery attack on a frontline island that killed four people and sparked global outrage. Lee has come under pressure to take a tougher line against Pyongyang after his military’s counter-fire following North…

Would-be congressman Daniel Webster tried to ban happy hour

Daniel Webster, the Republican challenger to Rep. Alan Grayson (D-FL), introduced legislation in 1991 that would have banned bars across Florida from holding happy hours. Webster, who served in the Florida legislature between 1980 and 2008, filed a bill in January 1991 that sought to prohibit selling alcohol on discount…

Gasoline prices fall ahead of Labor Day weekend

Gas pump prices continue to slide as Americans prepare to fill up for Labor Day weekend There is good news at the gas pump, as Americans get ready to fill their cars, RVs and boats for the Labor Day weekend. The national average price for gasoline has been falling steadily…

LA unveils $578M school, costliest in the nation

Amid ongoing budget woes, LA unveils nation’s most expensive school with $578M price tag Next month’s opening of the Robert F. Kennedy Community Schools will be auspicious for a reason other than its both storied and infamous history as the former Ambassador Hotel, where the Democratic presidential contender was assassinated…

Bakery chain Panera Bread opens non-profit, pay-what-you-want shop

So-called ‘Radiohead business model’ tremendously successful in propelling massive music sales, now being replicated with bread The national bakery and restaurant chain launched a new nonprofit store here this week that has the same menu as its other 1,400 locations. But the prices are a little different — there aren’t…

Chinese consumed millions of gallons of toxic sewage oil: study

Chinese cooking oil siphoned from restaurants’ waste tanks and stripped out of raw sewage is being resold on the cheap and has for years tainted approximately one out of every ten meals cooked in the eastern nation, according to a recent study. The revelation, first noted by state media, sent…

Sony scrambles after millions of PlayStation 3 consoles stop working

Japanese electronics giant Sony warned millions of users of older versions of the PlayStation 3 on Monday not to use the videogame console until it can fix a bug in the system. “As you may be aware, some customers have been unable to connect to the PlayStation Network,” Sony’s online…

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