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Ally settlement may be a boon for ResCap bondholders
NEW YORK (Reuters) - While bond insurers MBIA Inc and FGIC Corp receive the lion's share of Ally Financial Inc's $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson & Co may have obtained a better deal.
Obama Pushes to Close Gitmo, Defends Drone Strikes
US President Barack Obama renewed his commitment to closing the US military detention center at Guantanamo Bay, Cuba during a wide-ranging speech on US counterterrorism policy Thursday, calling on Congress to lift restrictions on transferring...Show More Summary
Judge says leaning toward U.S. in Apple e-books case
NEW YORK (Reuters) - A federal judge expressed a tentative view that the U.S. Justice Department will be able to show evidence Apple Inc engaged in a conspiracy with publishers to increase e-books prices.
Analysis: Markets face rough summer ride as Fed pullback feared
NEW YORK (Reuters) - For the past few months, the U.S. Federal Reserve has been squarely in the financial markets' corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purcha...
Maine Medicaid expansion passes but governor sets veto
BOWDOINHAM, Maine (Reuters) - Maine's Democratic-controlled legislature on Thursday passed a bill to expand access to its Medicaid program as outlined by the Affordable Care Act, setting up a showdown with the state's Republican governor, who immediate...
U.S. sees first drop in F-35 costs; other programs steady
WASHINGTON (Reuters) - The Pentagon on Thursday told Congress it expected a 1 percent drop in the cost of its biggest weapons program, the Lockheed Martin Corp. F-35 fighter jet, while averting the huge cost increases seen on other weapons programs in...
Local lawyer named to corruption fighting Chicago prosecutor job
CHICAGO (Reuters) - President Barack Obama has nominated Chicago attorney Zachary Fardon to be the U.S. prosecutor in Chicago, which has seen the indictments of many top local politicians and mob figures, the two U.S. senators from Illinois announced o...
Microsoft did not violate Google patent, ITC says
WASHINGTON (Reuters) - Microsoft Corp did not violate a patent owned by Google subsidiary Motorola Mobility when it made its popular Xbox, the International Trade Commission said on Thursday.
Gohmert’s Scandal Fix: ‘Special Counsel and Dismantle the IRS’
Texas Republican talks to PJM.
Pittsburgh on the Hudson? Wrong city in NY City campaign logo
NEW YORK (Reuters) - For New York City mayoral hopeful Anthony Weiner, the road to City Hall leads through Pittsburgh.
NYSE says AEP, NextEra trades stand after crash at open
NEW YORK (Reuters) - All trades in American Electric Power Inc and NextEra Energy Inc in a crash that happened in the first minute of trading on Thursday will stand, the New York Stock Exchange said, following the latest in a flurry of unexplained shar...
Why the Producer of "The Hangover Part III" Has Spent So Much Time in Prison
The past few weeks have been particularly busy ones for Scott Budnick, the 36-year-old executive producer of the hilarious, cringe-inducing, and incredibly lucrative Hangover film franchise. In case you hadn't noticed, this is opening weekend for The Hangover Part III, starring Bradley Cooper, Zack Galifianakis, and Ed Helms. Show More Summary
Catholic order to pay $16.5 million to more than 400 claiming sex abuse
NEW YORK (Reuters) - An order of the Roman Catholic Church has agreed to pay $16.5 million to more than 400 adults who said they were sexually abused as children by religious leaders, the parties announced on Thursday in separate statements.
NYT’s Shear Laments How Congress Grilled IRS Over Tea Party Handling
In real life it's near impossible to find anyone who pities the IRS. That's what the New York Times is for. In a Business Day section front-pager for Thursday's paper, the Times's Michael Shear lamented that the CEO of Apple received relatively kind treatment from a Senate panel... -
Proxy advisory firm settles SEC charges over data breach
WASHINGTON (Reuters) - Institutional Shareholder Services has settled civil charges by U.S. regulators that an employee of the prominent proxy advisory firm shared nonpublic voting data in exchange for meals and concert tickets.
Obama Still Running on ‘al-Qaeda Is on the Run’ Message as He Talks New Strategy
President eager to link Islamic terrorism solely to al-Qaeda, distance al-Qaeda from known active affiliates, then distance al-Qaeda from all recent attacks: "They did not direct the attacks in Benghazi or Boston."
Google faces new federal antitrust probe: source
WASHINGTON (Reuters) - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, which dominates web display advertising, has broken antitrust law in how it handles some ad sales, a source told Reuters on Thursday.
Canseco's ex rebuts rape allegations by Las Vegas fitness model as ex-athlete continues to tweet challenges
Leila Knight, who dated Jose Canseco for over four years, is calling BS on allegations that the former major league baseball star raped a Las Vegas fitness model. Those allegations arose on Wednesday.Knight, speaking to TMZ on video after the allegations were publicized on Wednesday, said she believes Canseco is completion innocent of any wrongdoing. Show More Summary
WATCH: Does the IRS Scandal Mean Dark Money Groups Will Go Unchecked? [Fiore Cartoon]
Mark Fiore is a Pulitzer Prize-winning editorial cartoonist and animator whose work has appeared in the Washington Post, the Los Angeles Times, the San Francisco Examiner, and dozens of other publications. He is an active member of the American Association of Editorial Cartoonists, and has a website featuring his work.
Sears posts bigger-than-expected loss as cold weather bites
(Reuters) - U.S. retailer Sears Holdings reported a larger-than-expected quarterly loss as cooler weather hurt sales at its department stores and said it was considering a sale of its protection agreement business to shore up liquid...
