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Friday, July 13, 2012

Obama and Romney: Where they stand on the issues

Obama and Romney: Where they stand on the issues

Obama and Romney: Where they stand on the issues

Posted: 13 Jul 2012 01:31 PM PDT

FILE - In this July 10, 2012 file photo, President Barack Obama pauses while speaking at Kirkwood Community College in Cedar Rapids, Iowa. (AP Photo/Nati Harnik, File)A look at where Democratic President Barack Obama and Republican presidential rival Mitt Romney stand on a selection of issues:

Big Ten, Pac-12 suspend scheduling agreement

Posted: 13 Jul 2012 01:30 PM PDT

The Big Ten and Pac-12 announced Friday that they were scrapping plans to schedule games against each other in all sports,, with Pac-12 officials saying there were too many complications with football schedules to pull it off.

JPMorgan traders may have hidden derivatives losses

Posted: 13 Jul 2012 01:30 PM PDT

People are seen in the lobby of JP Morgan Chase's international headquarters on Park Avenue in New York(Reuters) - JPMorgan Chase & Co said its traders may have deliberately hidden losses that have since climbed to $5.8 billion for the year, in a development that may result in criminal charges against traders at the bank. The losses came from bets on corporate debt now known as the "London Whale" trades made at JPMorgan's Chief Investment Office. Chief Executive Jamie Dimon said that in the worst-case scenario the derivatives trades would lose another $1.7 billion, and that the bank has fixed the CIO problems. ...

Prices of Facebook stock since long-awaited IPO

Posted: 13 Jul 2012 01:29 PM PDT

FILE - In this Friday, May 18, 2012 file photo, electronic screens show the price of Facebook shares after they began trading in New York. A flood of analyst reports from the banks that led Facebook's initial public offering gave the company's stock a mix of "Neutral" and "Buy" ratings on Wednesday, June 27, 2012 The day marks the end of a 40-day quiet period following the IPO, during which the underwriters aren't allowed to issue ratings. (AP Photo/Richard Drew)Facebook's stock fell slightly Friday, the fourth consecutive day of decline.

Anti-government protesters clash with police in Maldives

Posted: 13 Jul 2012 01:27 PM PDT

Police said the violence was instigated by supporters of ex-president Mohamed Nasheed's MDP partyPolice in the Maldives arrested at least 55 anti-government protesters Friday following violent clashes with security forces in the capital Male.

Macy's wins temporary block against Martha Stewart

Posted: 13 Jul 2012 01:27 PM PDT

Macy's Inc. says Friday it has won a preliminary block against Martha Stewart Living Omnimedia Inc. selling some of its products at J.C. Penney.

U.N. chief says Syria massacre casts doubt on Assad's peace pledge

Posted: 13 Jul 2012 01:22 PM PDT

UNITED NATIONS (Reuters) - U.N. Secretary-General Ban Ki-moon said on Friday reports of a massacre by Syrian government forces cast "serious doubts" on Syrian President Bashar al-Assad's commitment to a U.N.-backed peace plan. "I condemn, in the strongest possible terms, the indiscriminate use of heavy artillery and shelling of populated areas, including by firing from helicopters," Ban said in a statement. ...

Spanish civil servants protest wage cuts

Posted: 13 Jul 2012 01:22 PM PDT

A demonstrator is arrested by police officers during a protest against the recent austerity measures announced by the Spanish government, in front of the Popular Party in Madrid, Spain, on Friday July 13, 2012. Thousands of demonstrators took to the streets Friday to protest their second wave of wage cuts in as many years as the government prepared to approve austerity measures that include those reductions as part of a deficit-cutting plan to save euro 65 billion through 2015. (AP Photo/Emilio Morenatti)Spanish civil servants, many dressed in mourning black, took to the streets Friday in angry protest as the government approved new sweeping austerity measures that include wage cuts and tax increases for a country struggling under a recession and an unemployment rate of near 25 percent.

US chamber sees Pacific trade pact ready in 2013

Posted: 13 Jul 2012 01:20 PM PDT

The head of the U.S. Chamber of Commerce said Friday he is hopeful a major trans-Pacific trade pact will be completed in 2013, but not this year as originally planned.

JPMorgan Chase launches a stock market rally

Posted: 13 Jul 2012 01:17 PM PDT

FILE- In a Tuesday, July 10, 2012, file photo, traders work at the start of early trading at the New York Stock Exchange. U.S. stocks slid for a sixth day Thursday, July 12, 2012, as concern spread that weaker global economic growth and the European debt crisis will hurt U.S. corporate earnings. (AP Photo/Bebeto Matthews, File)Strong earnings from JPMorgan launched a stock market rally that gave the Dow Jones industrial average its best day this month.

At Penn St., reminders of scandal figures abound

Posted: 13 Jul 2012 01:14 PM PDT

The statue of former Penn State University head football coach Joe Paterno stands outside Beaver Stadium in State College, Pa., Friday, July 13, 2012. After an eight-month inquiry, former FBI director Louis Freeh's firm produced a 267-page report that concluded that Paterno and other top Penn State officials hushed up child sex abuse allegations against former Penn State assistant football coach Jerry Sandusky for more than a decade for fear of bad publicity, allowing Sandusky to prey on other youngsters. The revelations contained in the report have stirred a debate over whether the statue should remain. (AP Photo/Gene J. Puskar)There's the football building where boys were abused. The bronzed statue of Joe Paterno and the library that's named after him. The downtown mural depicting the Hall of Fame coach and the ousted ex-president.

Vegas chimp caretaker: Wild animals aren't pets

Posted: 13 Jul 2012 01:14 PM PDT

Metro officers and officials investigate the scene where an escaped male chimpanzee was shot and killed by a Metro officer, seen below the blue tent, on Ann Road just east of Jones Boulevard in North Las Vegas on Thursday, July 12, 2012. The chimpanzee, along with another female chimpanzee, escaped from a private residence near the scene. Metro police subdued and captured the female and shot and killed the male. (AP Photo/Las Vegas Review-Journal, Jessica Ebelhar) LOCAL TV OUT; LOCAL INTERNET OUT; LAS VEGAS SUN OUTA poker pro who funded the care of two chimpanzees that escaped and rampaged through a Las Vegas neighborhood this week says wild animals don't belong in captivity.

2-faced kitten dies in RI; had 4 eyes, 24 toes

Posted: 13 Jul 2012 01:14 PM PDT

A kitten with two faces born days ago in Rhode Island has died.

JPMorgan's 'London Whale' losses hit $5.8 bn

Posted: 13 Jul 2012 01:13 PM PDT

JPMorgan Chase on Friday admitted that losses from botched derivatives trades had soared to $5.8 billionJPMorgan Chase on Friday admitted that losses from botched derivatives trades had soared to $5.8 billion, nearly triple the cost originally predicted, while the bank warned of more red ink to come.

Dykstra pleads guilty in bankruptcy fraud case

Posted: 13 Jul 2012 01:10 PM PDT

Former New York Mets outfielder Lenny Dykstra has pleaded guilty to three counts stemming from a bankruptcy fraud case in Los Angeles.

U.S. approves new rules to protect futures customers

Posted: 13 Jul 2012 01:00 PM PDT

WASHINGTON (Reuters) - U.S. futures regulators approved new regulations on Friday to shore up protection of brokerage customer funds following last year's collapse of MF Global. The Commodity Futures Trading Commission approved the rule on the same day that Russell Wasendorf Sr., the founder of another failed brokerage firm, PFGBest, was arrested on fraud charges in connection with allegedly misappropriating customer money. Friday's new final rules address the kinds of problems that have been seen at both MF Global and PFGBest, where customer money was not properly segregated. ...

French president's 'Mr. Normal' image hit by tweet

Posted: 13 Jul 2012 01:00 PM PDT

French President Francois Hollande, center, delivers his speech as he visits the Secours Catholique charity organisation center in Colombes, West of Paris, Friday July 13, 2012.(AP Photo/Pool/Remy de la Mauviniere)A feud involving the French president's live-in girlfriend, his former partner and his eldest son may have tarnished the new leader's carefully cultivated image as "Mr. Normal" — credited with helping him win the spring election among a populace weary of his flashy predecessor, Nicolas Sarkozy.

George Zimmerman asks for new judge again

Posted: 13 Jul 2012 12:57 PM PDT

The ex-neighborhood watch volunteer charged with killing Trayvon Martin is again asking for a new judge.

CEO of troubled Iowa brokerage arrested, charged

Posted: 13 Jul 2012 12:56 PM PDT

FILE - This Monday, April 4, 2011 file photo shows Russ Wasendorf, Sr., CEO of Peregrine Financial Group, Inc. in Cedar Rapids, Iowa. A complaint filed Friday, July 13, 2012 in U.S. District Court in Cedar Rapids says Wasendorf, Sr., 64, made false statements to the U.S. Commodity Futures Trading Commission about the value of customer funds held by his company, Peregrine Financial Group, Inc. A press release from the U.S. Attorney's Office says Wasendorf was arrested Friday by FBI agents and is due in federal court in Cedar Rapids for an initial appearance. (AP Photo/Waterloo Courier, Rick Chase, File)The chief executive officer of an Iowa-based brokerage firm admitted in a suicide note that he carried out an elaborate fraud scheme in which he embezzled more than $100 million from customers over nearly two decades, federal investigators said Friday.

Texas: State voter ID law does not discriminate

Posted: 13 Jul 2012 12:54 PM PDT

Lawyers for the state of Texas argued Friday that a contentious voter ID law should go forward because it doesn't limit minorities' right to vote and, therefore, does not violate the federal Voting Rights Act.

Calls for tough UN action after Syria 'outrage'

Posted: 13 Jul 2012 12:50 PM PDT

Thousands of Syrians from Mareh protest against the massacre in TreimsaPeace envoy Kofi Annan said Friday Syria had "flouted" Security Council resolutions with mass killings in Treimsa village which UN chief Ban Ki-moon called an "outrageous escalation".

Administration proposes welfare-to-work waivers

Posted: 13 Jul 2012 12:47 PM PDT

The Obama administration has quietly opened the door for states to seek major changes in how they meet federal welfare-to-work requirements for some of their poorest residents, and leading conservatives are crying foul.

Dogs, dead people get election docs from nonprofit

Posted: 13 Jul 2012 12:43 PM PDT

In this photo taken Wednesday, July 11, 2012, Brenda Charlston holds a photo of her long-deceased dog, Rosie, and a voter registration form for "Rosie Charlston" that arrived in the mail for the canine last month in Seattle. Rosie was a black lab who died in 1998. A left-leaning group called the Voter Participation Center has touted the distribution of some 5 million registration forms in recent weeks, targeting Democratic voting blocs such as unmarried women, blacks, Latinos and young adults. But residents and election administrators around the country have also reported a series of bizarre and questionable mailings addressed to animals, dead people and people already registered to vote. (AP Photo/Elaine Thompson)The voter registration form arrived in the mail last month with some key information already filled in: Rosie Charlston's name was complete, as was her Seattle address.

Russia speeds law on rights groups, snubbing U.S

Posted: 13 Jul 2012 12:31 PM PDT

Russian President Putin chairs a meeting of the Security Council in MoscowMOSCOW (Reuters) - The Russian government rushed a law through parliament on Friday which will tighten controls on civil rights groups and has strained relations with the United States, which fears a crackdown on opponents of President Vladimir Putin. In defiance of criticism this week from the U.S. State Department, curtly dismissed by Russia's Foreign Ministry as "gross interference", the lower house overwhelmingly backed the bill in second and third readings under accelerated procedures. ...

PFGBest chief arrested, admits 20-year fraud, FBI says

Posted: 13 Jul 2012 12:30 PM PDT

CHICAGO (Reuters) - Russell Wasendorf Sr was arrested on Friday after allegedly stealing more than $100 million from clients of his now-bankrupt brokerage PFGBest, using Excel and ink-jet printers to hide his fraud for over two decades. In the latest scandal to rattle trader confidence in the trillion-dollar U.S. futures markets, Wasendorf, 64, said he began forging bank documents nearly 20 years ago after the business he built from his basement risked failing without additional capital, according to the text of a signed statement he left when he attempted to commit suicide on Monday. ...

Woman sues Bieber, says concert harmed her hearing

Posted: 13 Jul 2012 12:29 PM PDT

An Oregon woman has filed a $9.2 million lawsuit against pop star Justin Bieber, alleging she suffered permanent hearing loss at his Portland concert two years ago.

Keep up reforms, Clinton urges Myanmar

Posted: 13 Jul 2012 12:27 PM PDT

U.S. Secretary of State Hillary Clinton speaks at the 5th Lower Mekong Initiative (LMI) Ministerial Meeting in Phnom PenhSIEM REAP, Cambodia - U.S. Secretary of State Hillary Clinton urged Myanmar's president on Friday to stick with economic and political reforms as his resource-rich country emerges from nearly half a century of reclusive military rule. "We want you to keep going. We're very committed," Clinton said as she met Thein Sein, a former junta general chosen by parliament last year to lead a quasi-civilian government in a country with extensive timber, gems and natural gas resources. ...

JPMorgan's quarterly commods risk hits 2-year lows

Posted: 13 Jul 2012 12:26 PM PDT

(Reuters) - JPMorgan Chase & Co's commodities trading risk fell to its lowest level in two years during the second quarter as tumbling prices sidelined many investors in oil, metals and agricultural markets, company results showed on Friday. The largest U.S. bank by assets said its value-at-Risk (VaR) in commodities fell by 38 percent to average $13 million per day in the three months to June, versus $21 million in the first quarter. VaR is an industry term for the maximum money a financial institution is willing to lose a day for trading a particular asset class. ...

After Facebook freeze, IPO market starts to thaw

Posted: 13 Jul 2012 12:26 PM PDT

With new public stock offerings for guitar maker Fender and travel booking website Kayak on deck next week, there are signs demand is starting to grow for IPOs after a five-week freeze triggered by a steep decline in financial markets and exacerbated by Facebook's rocky May 18 debut.

Fed. panel supports Kan. biosecurity lab project

Posted: 13 Jul 2012 12:25 PM PDT

A government-backed committee of the National Research Council issued a report Friday saying the United States would have adequate biosecurity protections even if plans for a proposed $1.14 billion lab in Kansas are scaled back.

Solar storm barreling toward Earth this weekend

Posted: 13 Jul 2012 12:24 PM PDT

This image captured in the 304 Angstrom wavelength, which is typically colorized in red provided by NASA shows a solar flare, lower center, erupting from the sun on Thursday, July 12, 2012. Space weather scientists said there should be little impact to Earth. The flare erupted from a region which rotated into view on July 6, 2012. (AP Photo/NASA)A solar storm is racing toward Earth this weekend, but scientists say not to worry.

Chinese industrialist behind Hawker Beechcraft bid

Posted: 13 Jul 2012 12:24 PM PDT

In Beijing, Shenzong Cheng is known as the "Helicopter King of China," an industrialist who's been quietly building a small empire in aviation manufacturing.

Mintz-Plasse says 'Kick-Ass 2' may be coming

Posted: 13 Jul 2012 12:24 PM PDT

Christopher Mintz-Plasse has spread the word at Comic-Con: a sequel to "Kick-Ass" appears to be on the way.

Price hike still haunts Netflix stock 1 year later

Posted: 13 Jul 2012 12:24 PM PDT

FILE-In this Jan. 24, 2007 file photo, Netflix customer Carleen Ho holds up DVD movies, "Talladega Nights" and "Pirates of the Caribbean' that she rented from Netflix, at her home in Palo Alto, Calif. Netflix is more popular among couch potatoes than investors a year after its polarizing decision to raise U.S. prices for video subscription services by as much as 60 percent. The unexpected twist that Netflix announced a year ago Thursday, July 12, 2012, triggered mass customer cancellations and a sell-off in its stock that has wiped out more than $11 billion in shareholder wealth. (AP Photo/Paul Sakuma, file)Netflix is more popular among couch potatoes than investors a year after its polarizing decision to raise U.S. prices for video subscription services.

'Community' producers won't 'screw up' 4th season

Posted: 13 Jul 2012 12:21 PM PDT

In this publicity photo provided by Sony Pictures Television, actor, Joel McHale, is shown in a scene from "Community - Introduction to Finality." (AP Photo/Sony Pictures Television, Lewis Jacobs)Despite a shake-up in the administration, the cast and crew of "Community" assured fans at Comic-Con that the show isn't changing.

Uzbek man gets more than 15 years for Obama threat

Posted: 13 Jul 2012 12:20 PM PDT

FILE - This is an undated handout photo from the Shelby County (USA) Sheriff's Dept picturing 22-year-old Ulugbek Kodirov. A federal judge in Alabama on Friday, July 13, 2012 sentenced Kodirov to 188 months in prison for a plot to kill President Obama. He pleaded guilty to threatening to kill the president, providing material support to terrorism, and unlawfully possessing a firearm. (AP Photo/Shelby County Sheriff's Dept., File)An Uzbek man who once worked at a shopping mall in Alabama was sentenced Friday to more than 15 years in prison for plotting to kill President Barack Obama.

Guest lineups for the Sunday news shows

Posted: 13 Jul 2012 12:19 PM PDT

Guest lineups for the Sunday TV news shows:

California pain doctor duped by dog X-ray in sting

Posted: 13 Jul 2012 12:17 PM PDT

This image provided by the Glendora, Calif., Police Department shows an X-ray of a dog that was presented to a Glendora, Calif., doctor by an undercover sheriff's deputy. The doctor then prescribed for the deputy a prescription for a powerful narcotic painkiller and a muscle relaxant, law enforcement officials said Friday, July 13, 2012. The Los Angeles Times reports that Dr. Rolando Lodevico Atiga was arrested Thursday for prescribing pills to three undercover deputies. (AP Photo/Glendora Police Department)Investigators say a Southern California doctor saw enough from an X-ray to prescribe pain killers to an undercover cop but missed the tail showing it was an image of a dog.

Mickelson shoots 64 at Scottish Open; 5 off lead

Posted: 13 Jul 2012 12:16 PM PDT

Phil Mickelson of the US walks on the 9th hole during day two of the Scottish Open at the Castle Stuart Golf Links, Inverness, Scotland, Friday July 13, 2012. (AP Photo/PA, Lynne Cameron) UNITED KINGDOM OUT NO SALES NO ARCHIVEPhil Mickelson broke out of his slump with an 8-under 64 at the Scottish Open on Friday, leaving him five shots off the second-round lead shared by Alexander Noren and Francesco Molinari.

Death, grief in Syrian village, U.S. cries "murder"

Posted: 13 Jul 2012 12:14 PM PDT

Men walk past destruction in Bab-Todmor in HomsAMMAN/BEIRUT (Reuters) - Graphic scenes of grief and death in a Syrian village bore witness on Friday to a massacre President Bashar al-Assad's opponents say was the work of his troops and militia allies, drawing words of outrage from the outside world. There was "indisputable evidence that the regime deliberately murdered innocent civilians," said U.S. Secretary of State Hillary Clinton, demanding access for U.N. observers. ...
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