Double Whammy
Misguided government policies have already dealt vicious body blows to our economy, but that hasn't stopped politicians this week from launching two new kicks to the groin: a national health insurance plan and a carbon emissions regulation system called cap and trade?
Soros predicts stop-go economy and higher rates
Billionaire investor George Soros on Tuesday predicted a stop-go economy for the United States, saying fears of inflation will drive up interest rates and choke off growth.
Most U.S. troops leave Iraq cities six years after invasion
U.S. combat troops mostly left Iraq's cities and towns by midnight on Tuesday and redeployed to rural areas until the end of 2011, six years after invading the country and eventaully overthrowing the previous government under its now executed president Saddam Hussein.
Treasury sets wide scope for new consumer agency
The U.S. Treasury on Tuesday sent Congress proposed legislation to create a new regulatory agency with sweeping powers to write and enforce tough new consumer protection rules for banks and other financial institutions.
Property Room helps police auction unclaimed stolen property
When stolen goods are recovered from the criminals when the arrest takes place and then no owner comes along and claims the property, what becomes of that property?
Father denies concert stress killed Michael Jackson
The father of Michael Jackson said on Monday in an interview that he did not believe series of concert stress killed his son.
AIG says risk declining, new CEO likely soon
American International Group Inc's chief executive said the government may never relinquish its 79.9 percent stake in the insurer, which has been rescued by $180 billion of federal bailouts.
GM sale hearing under way in U.S. bankruptcy court
A U.S. bankruptcy court judge opened a hearing on Tuesday morning on government-backed plans by General Motors Corp to seek approval to sell its main assets to a New GM.
Wall Street falls on consumer confidence data, oil
U.S. stocks fell on Tuesday after U.S. consumer confidence data showed a surprise drop, raising doubts about the speed of an economic recovery, and falling oil prices sank energy shares.
Zimbabwe secures $950 mln credit from China
Zimbabwe has secured $950 million in credit from China to help rebuild its economy, Prime Minister Morgan Tsvangirai said on Tuesday, the biggest offer from a single country since the unity government was formed.
OPAP agrees new sales deal with Greece agents
Europe's biggest betting firm, OPAP, said on Tuesday it had renegotiated a binding sales agreement with sales agents in Greece, a move that will help shield it from any possible deregulation of the Greek gaming market.
The Pirate Bay goes legal, bought out by gaming company
A day after Pirate Bay unveils its new streaming site - The Video Bay -that will compete with sites like YouTube and Hulu, the popular BitTorrent search engine said it will be bought out by a gaming company Global Gaming Factory X for $7.8 million.
U.N.'s Ban says to urge Myanmar to release Suu Kyi
U.N. Secretary-General Ban Ki-moon will strongly urge Myanmar's ruling generals to release all political prisoners, including Aung San Suu Kyi, when he visits the country this week, he told reporters in Tokyo on Tuesday.
Saudi, Conoco relaunch Yanbu refinery bidding
Saudi Aramco and U.S. ConocoPhillips said on Tuesday they would relaunch bidding for the 400,000 barrels per day (bpd) Yanbu refinery.
China: forestry' output totalled $194.7 b in 2008, 13% up
The total output of China's forestry industry rose 13% in 2008 to 1.33 trillion yuan ($194.7 billion), a senior forestry official said in a conference ended on Sunday.
Oil drops 3 percent as dollar gains
Oil prices fell more than 3 percent to $69 a barrel on Tuesday, pressured by a stronger U.S. dollar and as weak consumer confidence data hit equities.
Deere says 800 employees take buyout offer
Deere & Co said on Tuesday that roughly 800 employees -- more than it had expected -- took a buyout from the world's largest maker of agricultural machinery and raised the amount of the charge associated with those departures.
Iraq steps into precarious but sovereign unknown
Iraq takes a major step toward reasserting its sovereignty on Tuesday when U.S. combat troops hand urban areas over to its relatively untested police and soldiers.
Copper scrap spreads widen amid the summer doldrums
The discount for copper scrap has widened in recent weeks as the copper futures price remains at elevated levels and business in recycled metal slows to a crawl amid the seasonal summer slowdown.
Tengzhong-Hammer deal still under way
Tengzhong's plan to buy Hummer was still being examined by concerned departments and there had been no definitive result toward approval, authorities in Sichuan Province confirmed on Monday.
Iraqis rejoice as U.S. troops leave Baghdad
U.S. troops pulled out of Baghdad on Monday, triggering jubilation among Iraqis hopeful that foreign military occupation is ending six years after the invasion to depose Saddam Hussein.
Iraq regains control of cities as U.S. pulls back
Iraq regained full control of its towns and cities on Tuesday, declaring the day a national holiday for Iraqis to celebrate the withdrawal of U.S. troops, six years after invading to topple Saddam Hussein.
Italy gas train derails and explodes, killing 16
At least 16 people were killed and 50 injured overnight in Italy when a freight train hauling liquefied petroleum gas derailed and exploded as it passed their homes, officials said Tuesday.
Child survives Yemeni plane crash with 153 on board
An Airbus A310-300 from Yemen with 153 people on board, including 66 French nationals, crashed into the sea off the Indian Ocean archipelago of Comoros as it approached in bad weather early on Tuesday, officials said.
Ten could be charged in Madoff fraud: source
Ten or more people associated with multibillion dollar swindler Bernard Madoff could face criminal charges in investigations in the coming months or beyond, a law enforcement source said on Tuesday.
GM sale hearing in recess in U.S. bankruptcy court
A General Motors Corp bankruptcy court hearing in which the company is seeking to sell its main assets to a New GM began on Tuesday but moved to a recess almost immediately as the judge dealt with communication issues.
Stocks slide after lower consumer confidence data
Stocks fell on Tuesday after U.S. consumer confidence data showed a surprise drop in June, raising doubts about the speed on an economic recovery.
India's Tata Consultancy sees flat biz growth in Q1
Tata Consultancy Services Ltd, India's top software services firm by sales, sees flat business growth in its fiscal first quarter that ended on Tuesday as economic downturn crimped outsourcing, its chairman said.
Ahmadinejad calls election defeat for Iran's foes
President Mahmoud Ahmadinejad on Tuesday hailed his disputed re-election as a victory for the Iranian people and a defeat for the Islamic Republic's enemies.
AIG says risk declining
American International Group Inc , the insurer rescued by $180 billion of federal bailouts, on Tuesday expressed optimism it will be able to repay government loans as it tries to rebound from punishing losses tied to derivatives.
