Republicans clash with AG on Fast and Furious

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• Republicans clash with AG on Fast and Furious
• Frustrated liberals want more from Obama
• Former Greek PM: euro exit would be "catastrophic"
• Annan urges more U.N. Security Council "pressure" on Syria
• McNamee's wife echoes husband's fury at Clemens
• Blankfein says did not OK Gupta to share board information
• Stock rally evaporates after Bernanke testimony
• Powerbroker tied to Nevada Sen. Reid goes to court
• Ouster of Vatican bank chief takes strange twist
• US warns running out of patience with Pakistan
• Fiancee: Vet gave show errant photo by 'mistake'
• Fonda not taking Cannes glam attention seriously
• Schilling's co. files for bankruptcy; feds probing
• Oil gives up gains without signs of Fed move
• Singer Lauryn Hill faces federal tax charges in NJ
• Witnesses discuss State Dept.'s WikiLeaks response
• Stocks helped lift US household wealth in Q1
• Pfizer spinning off animal health business
• Proud, too-big-to-fail Spain ponders bank rescue
• UN monitors shot at near site of Syrian killings
• US consumer cut back on credit card use in April
• Bernanke signals no imminent steps to aid economy
• Witness identifies fan beating defendants in court
• Location app Foursquare to focus on exploration
• EU states prepare rules for suspending visa-free travel
• Giants extend Coughlin coaching deal through 2014
• Fed proposes stricter capital rules for banks
• Egypt: deal on constitutional panel sealed
• Rangers put Holland on DL, recall Scheppers
• Corporations boost agricultural research funding
• Germany: Magnotta extradition decision within days
• Huge algae blooms discovered beneath Arctic ice
• Merkel urges 'political' union, Spain rating slashed
• Linde named new Bank of Spain governor
• Bangladesh Internet down after submarine cable cut
• Fed's Fisher welcomes China FX moves but caution needed
• Jobless claims fall for first time since April
• U.N. monitors shot at on way to Syria "massacre" site
• Best Buy founder resigns, puts large stake in play
• Cape Cod bear captures residents' imaginations

Republicans clash with AG on Fast and Furious Posted: 07 Jun 2012 01:32 PM PDT Attorney General Eric Holder clashed Thursday with congressional Republicans seeking more information about a flawed gun-trafficking investigation in Arizona.

Frustrated liberals want more from Obama Posted: 07 Jun 2012 01:29 PM PDT The Democratic Party's most passionate voters are struggling to hide their frustration with President Barack Obama.

Former Greek PM: euro exit would be "catastrophic" Posted: 07 Jun 2012 01:28 PM PDT COPENHAGEN (Reuters) - A Greek exit from the euro zone would be "catastrophic" for the country, former prime minister Lucas Papademos said on Thursday, urging the Greek people to "stay the course" of painful economic reforms. "The overall economic consequences of a Greek euro exit would be disastrous, or to use a Greek word, catastrophic," Papademos, also a former vice president of the European Central Bank, said in a speech at an Institute of International Finance conference in Copenhagen. ...

Annan urges more U.N. Security Council "pressure" on Syria Posted: 07 Jun 2012 01:27 PM PDT UNITED NATIONS (Reuters) - International mediator Kofi Annan warned the U.N. Security Council on Thursday that the Syria crisis will soon spiral out of control and called for "substantial pressure" on Damascus and consequences for undermining his peace plan, diplomats said. Annan briefed the closed-door session of the Security Council along with U.N. ...

McNamee's wife echoes husband's fury at Clemens Posted: 07 Jun 2012 01:26 PM PDT Eileen McNamee's story differs with her husband's in several ways, and her own version appears to have changed somewhat over the years, but there's little doubt about one thing the estranged couple have in common: They both were furious when details of their oldest son's medical condition were revealed at a Roger Clemens news conference four years ago.

Blankfein says did not OK Gupta to share board information Posted: 07 Jun 2012 01:24 PM PDT NEW YORK (Reuters) - The chief executive of Goldman Sachs Group Inc told a federal court jury on Thursday that he did not authorize former board member Rajat Gupta to share information about the bank that was discussed at board meetings. Goldman CEO Lloyd Blankfein returned to the witness stand for a second day, smiling broadly as he strode into the courtroom, to testify for the prosecution at Gupta's insider-trading trial. Gupta, who sat on the Goldman board of directors until 2010, is fighting charges in U.S. ...

Stock rally evaporates after Bernanke testimony Posted: 07 Jun 2012 01:20 PM PDT A rally in stocks on Wall Street mostly evaporated after investors didn't hear what they wanted to hear from Federal Reserve Chairman Ben Bernanke.

Powerbroker tied to Nevada Sen. Reid goes to court Posted: 07 Jun 2012 01:19 PM PDT A former developer and lobbyist with long ties to Senate Majority Leader Harry Reid and Nevada's political elite turned himself in to federal authorities Thursday after being indicted on criminal charges involving federal campaign contributions.

Ouster of Vatican bank chief takes strange twist Posted: 07 Jun 2012 01:18 PM PDT Italian authorities seized a private document meant for Pope Benedict XVI when they raided the home of the Vatican's recently ousted bank chief, a lawyer said Thursday, adding a potentially problematic legal twist in an already controversial case.

US warns running out of patience with Pakistan Posted: 07 Jun 2012 01:17 PM PDT Defense Secretary Leon Panetta warned Pakistan on Thursday that Washington is losing patience over its failure to eliminate safe havens for insurgents who attack US troops in neighbouring Afghanistan.

Fiancee: Vet gave show errant photo by 'mistake' Posted: 07 Jun 2012 01:14 PM PDT The fiancée of an "America's Got Talent" contestant scrutinized for claims he was injured in Afghanistan says he made a "mistake" when he gave the show a photograph of another soldier instead of himself.

Fonda not taking Cannes glam attention seriously Posted: 07 Jun 2012 01:12 PM PDT Don't get Jane Fonda wrong. The 74-year-old actress got a thrill when she wowed the fashion crowd at France's Cannes Film Festival in a form-fitting, two-tone Stella McCartney gown.

Schilling's co. files for bankruptcy; feds probing Posted: 07 Jun 2012 01:12 PM PDT Former Red Sox pitcher Curt Schilling's troubled video gaming company, lured to Rhode Island with a $75 million state loan guarantee two years ago, filed for bankruptcy protection on Thursday, and federal authorities have begun an investigation into the firm.

Oil gives up gains without signs of Fed move Posted: 07 Jun 2012 01:10 PM PDT Federal Reserve Chairman Ben Bernanke took the air out of a rally in the price of oil Thursday when he didn't signal any imminent action to help the U.S. economy.

Singer Lauryn Hill faces federal tax charges in NJ Posted: 07 Jun 2012 01:10 PM PDT Eight-time Grammy winner Lauryn Hill has been charged with failing to file income tax returns for several years with the Internal Revenue Service, the U.S. attorney's office in New Jersey announced Thursday.

Witnesses discuss State Dept.'s WikiLeaks response Posted: 07 Jun 2012 01:07 PM PDT The U.S. State Department took extraordinary steps to limit harm to foreign relations and individuals after an Army private allegedly sent more than 250,000 classified diplomatic cables to the secret-sharing website WikiLeaks, two agency officials testified at a court-martial hearing Thursday.

Stocks helped lift US household wealth in Q1 Posted: 07 Jun 2012 01:07 PM PDT Americans' wealth rose sharply in the January-March quarter, boosted mainly by the best quarterly gain in stock prices since 1998 and partly by the first rise in home values since 2006.

Pfizer spinning off animal health business Posted: 07 Jun 2012 01:07 PM PDT Drugmaker Pfizer Inc. said Thursday it's taking the first steps to spin off its animal health business into a separate company, a long-anticipated move that's part of an ongoing makeover to divest nonpharmaceutical businesses and boost returns to frustrated shareholders.

Proud, too-big-to-fail Spain ponders bank rescue Posted: 07 Jun 2012 01:05 PM PDT LONDON (Reuters) - As the world's 12th largest economy and No.4 in the euro zone, Spain by common consent is too big to fail. But all the signs are that the country is not too big for a bailout of its banks. Markets have rallied this week partly on optimism that euro zone policymakers, proven masters at improvisation, will reach a compromise with Madrid on the terms of a bank rescue and so defuse the latest threat to the single currency. ...

UN monitors shot at near site of Syrian killings Posted: 07 Jun 2012 01:04 PM PDT U.N. observers came under fire Thursday as they tried to reach the site of the latest reported mass killing in Syria — about 80 people, including women and children who were shot or stabbed. The deaths added urgency to diplomatic efforts to end the escalating bloodshed.

US consumer cut back on credit card use in April Posted: 07 Jun 2012 01:04 PM PDT Americans cut back sharply on their credit card purchases in April, a sign that some may be worried about the slowdown in hiring.

Bernanke signals no imminent steps to aid economy Posted: 07 Jun 2012 01:03 PM PDT Slumping job growth has alarmed some economists who fear the U.S. economy is in trouble.

Witness identifies fan beating defendants in court Posted: 07 Jun 2012 01:00 PM PDT A woman who saw part of a brutal attack on a San Francisco Giants fan outside Dodger Stadium has made the first eyewitness identification in court of two defendants charged in the case.

Location app Foursquare to focus on exploration Posted: 07 Jun 2012 01:00 PM PDT Foursquare is best known for letting smartphone users tell others about the restaurants and other places they are at, but people are increasingly using it to find nearby places to go to. Now, the mobile app is getting a makeover that turns the focus to this sort of exploration.

EU states prepare rules for suspending visa-free travel Posted: 07 Jun 2012 12:57 PM PDT BRUSSELS (Reuters) - European Union governments would be able to suspend passport-free travel in parts of Europe for as long as two years under regulations proposed on Thursday to address concerns over large-scale immigration. At a meeting in Luxembourg, EU home affairs ministers agreed on new rules that would allow countries to reintroduce border controls if one state persistently failed to stop illegal migrants from entering Europe's Schengen zone. ...

Giants extend Coughlin coaching deal through 2014 Posted: 07 Jun 2012 12:56 PM PDT Tom Coughlin has signed a contract extension that will keep him as coach of the New York Giants through the 2014 season, the National Football League club announced.

Fed proposes stricter capital rules for banks Posted: 07 Jun 2012 12:52 PM PDT The Federal Reserve wants U.S. banks to set aside more money to cushion against unexpected losses, a key step in preventing another financial crisis.

Egypt: deal on constitutional panel sealed Posted: 07 Jun 2012 12:50 PM PDT Egypt's ruling generals and representatives of 22 political parties have agreed on how to form a panel tasked with drafting a new constitution, breaking a three-month deadlock on the issue.

Rangers put Holland on DL, recall Scheppers Posted: 07 Jun 2012 12:49 PM PDT The Texas Rangers placed left-hander Derek Holland on the 15-day disabled list Thursday because of a fatigued left shoulder.

Corporations boost agricultural research funding Posted: 07 Jun 2012 12:49 PM PDT The gap between federal support for agricultural research at large public universities and private investment continues to grow — and the divide comes with increased threats to academic freedom and more instances of meddling in the lab, a new research report suggests.

Germany: Magnotta extradition decision within days Posted: 07 Jun 2012 12:48 PM PDT German prosecutors said Thursday a decision on the extradition of the Canadian porn actor suspected of the grisly killing and dismemberment of a Chinese student could be made within days.

Huge algae blooms discovered beneath Arctic ice Posted: 07 Jun 2012 12:48 PM PDT A NASA mission to study the tiny algae vital to the ocean's food chain has turned up a massive amount of phytoplankton where scientists least expected it -- under the Arctic ice.

Merkel urges 'political' union, Spain rating slashed Posted: 07 Jun 2012 12:48 PM PDT German Chancellor Angela Merkel pushed for a stronger European political union Thursday amid growing international calls for action as a brutal Spain ratings downgrade added another twist to the eurozone crisis.

Linde named new Bank of Spain governor Posted: 07 Jun 2012 12:45 PM PDT MADRID (Reuters) - Luis Maria Linde, an economist who first worked at the Bank of Spain in 1983, was named on Thursday as its new governor. The 67-year-old was appointed to the board of the central bank just two weeks ago, fuelling speculation he was Economy Minister Luis de Guindos's favored candidate to take over. "He has special and exhaustive knowledge of the entity as well as recognized skills in national and international banking issues," De Guindos told a congress hearing where the name of the new governor was announced. ...

Bangladesh Internet down after submarine cable cut Posted: 07 Jun 2012 12:40 PM PDT Millions of Bangladeshis have been unable to use the Internet or suffered slow connections after a submarine cable was cut off the coast of Singapore, an official said Thursday.

Fed's Fisher welcomes China FX moves but caution needed Posted: 07 Jun 2012 12:39 PM PDT SAN DIEGO (Reuters) - China's efforts to open its currency market will benefit the country and the world economy, but policymakers must be wary of risks from volatile international capital flows, a top Federal Reserve official said. Richard Fisher, president of the Dallas Fed, told an event at the University of San Diego that he did not believe the U.S. dollar's role as the key global reserve currency would be challenged any time soon. But he said the euro - despite the currency bloc's current difficulties - and the yuan could eventually rival the U.S. dollar. ...

Jobless claims fall for first time since April Posted: 07 Jun 2012 12:36 PM PDT WASHINGTON (Reuters) - The number of Americans lining up for new jobless benefits fell last week for the first time since April, a hint that a slowdown in hiring last month may only be temporary. The data on state unemployment claims, released by the Labor Department on Thursday, takes some of the edge off a report by the government last week that showed job creation slowed sharply in May. Many economists believe mild weather in the winter led employers to hire more workers then at the expense of spring, but the weather effect should be temporary. ...

U.N. monitors shot at on way to Syria "massacre" site Posted: 07 Jun 2012 12:36 PM PDT BEIRUT/UNITED NATIONS (Reuters) - U.N. monitors came under fire on Thursday and were prevented from reaching a village where forces loyal to Syrian President Bashar al-Assad were reported to have massacred at least 78 civilians, U.N. officials said. U.N. Secretary-General Ban Ki-moon described the reported events in Mazraat al-Qubeir as "unspeakable barbarity," while the White House condemned the "outrageous targeted killings of civilians" and again called on other countries to halt support for Assad. ...

Best Buy founder resigns, puts large stake in play Posted: 07 Jun 2012 12:34 PM PDT (Reuters) - Best Buy Co Inc founder and chairman Richard Schulze resigned from the company's board on Thursday and said he was exploring options for his 20.1 percent ownership stake, a move seen as a possible precursor of a Schulze-led private takeover. Schulze's announcement came just two months after CEO Brian Dunn abruptly left the chain, and adds to management distractions as Best Buy struggles to compete with online and discount retailers. Shares of Best Buy pared losses on Thursday afternoon to trade down 1.4 percent, after falling as much as 8.5 percent in the morning. ...

Cape Cod bear captures residents' imaginations Posted: 07 Jun 2012 12:28 PM PDT The biggest sensation on Cape Cod right now isn't the lobster, the historic lighthouses or its rolling sand dunes. It's not even a Kennedy.

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