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Monday, July 16, 2012

Stocks edge lower after consumer spending slides

Stocks edge lower after consumer spending slides

Stocks edge lower after consumer spending slides

Posted: 16 Jul 2012 01:15 PM PDT

FILE- In a July 13, 2012, file photo, traders work as the New York Stock Exchange nears closing. JPMorgan Chase blew away a cloud of concern hanging over the banking industry Friday and set off a rally in stocks. (AP Photo/Bebeto Matthews)Stocks are closing lower for the seventh day out of the last eight after the government reported that U.S. consumers cut their spending last month.

Groups call on Hungary to try war criminal suspect

Posted: 16 Jul 2012 01:13 PM PDT

The garden view of the apartment building which is allegedly the last known location of Hungarian Nazi WWII war crimes suspect Laszlo Csatary in Budapest, Hungary, Monday, July 16, 2012. The The Nazi-hunting Jewish human rights group, Simon Wiesenthal Centre have submitted new evidence to the prosecutor in Budapest regarding crimes committed during World War II by its No 1 Most Wanted suspect Laszlo Csatary, who is accused of organizing the deportation and complicity in the deaths of some 15,700 Jews. (AP Photo/Bela Szandelszky)Hungary said Monday it is investigating whether a Holocaust-era war criminal has been living in the capital, Budapest, as international and domestic groups clamored for him to be placed on trial.

1st female country superstar Kitty Wells dies

Posted: 16 Jul 2012 01:11 PM PDT

Kitty Wells, the first female superstar of country music, has died at the age of 92.

2 Libyan journalists freed after abduction

Posted: 16 Jul 2012 01:09 PM PDT

A local Libyan TV station manager says two of his journalists have been freed after more than a week being held captive by militiamen from a onetime stronghold of ousted ruler Moammar Gadhafi.

US drought grows to cover widest area since 1956

Posted: 16 Jul 2012 01:16 PM PDT

The drought gripping the United States is the widest since 1956, according to new data released Monday by the National Oceanic and Atmospheric Administration.

Largest public pension fund earns dismal 1 percent

Posted: 16 Jul 2012 01:09 PM PDT

The nation's largest public pension fund reported a dismal 1 percent return on its investments, a figure far short of projections that will likely add pressure on California's state and local governments to contribute more, officials said Monday.

Bears, Forte agree to four-year deal

Posted: 16 Jul 2012 01:09 PM PDT

Pro Bowl running back Matt Forte and the Chicago Bears have agreed to a four-year contract, settling the biggest issue hanging over the team.

Britain eclipses US with biggest squad at Olympics

Posted: 16 Jul 2012 01:07 PM PDT

The biggest delegation at the London Olympics will be in red, white and blue.

Clinton warns Iran during Israel visit

Posted: 16 Jul 2012 01:07 PM PDT

Israel's President Shimon Peres, right, and U.S. Secretary of State Hillary Rodham Clinton, left, laugh as they shake hands before their meeting at the President's residence in Jerusalem, Monday, July 16, 2012. Although Clinton's agenda is designed to cover the breadth of U.S.-Israeli relations, the lack of action on peace talks between Israel and the Palestinians will be in the spotlight. (AP Photo/ Brendan Smialowski, Pool)Secretary of State Hillary Rodham Clinton says the U.S. will "use all elements of American power" to prevent Iran from obtaining a nuclear weapon.

'Today' and new co-host fall to 'GMA' in Week 1

Posted: 16 Jul 2012 01:06 PM PDT

FILE - In this Aug. 10, 2011 file photo provided by NBC, "Today" show co-host Savannah Guthrie appears on the set during a broadcast, in New York. Guthrie was welcomed Monday, July 9, 2012, by her co-host, Matt Lauer, after replacing Ann Curry as co-host on the popular morning news program. A majority of morning viewers has greeted the arrival of Savannah Guthrie with a yawn in her first week as A majority of morning viewers has greeted the arrival of Savannah Guthrie with a yawn in her first week as "Today" show co-anchor.

Deep Purple's Jon Lord dies at age 71

Posted: 16 Jul 2012 01:05 PM PDT

FILE - In this file picture dated Tuesday, Oct. 5, 2004 British musician Jon Lord, plays piano during a test run for his concert in Cologne, western Germany. Deep Purple's Jon Lord, who has died aged 71, Monday, July 16, 2012. The Leicester-born keyboard player, who had pancreatic cancer, died in London today. (AP Poto/Hermann J. Knippertz,File)British rocker Jon Lord, the keyboardist whose powerful, driving tones helped turn Deep Purple and Whitesnake into two of the most popular hard rock acts in a generation, died Monday. He was 71.

Oil price rising on stimulus hopes

Posted: 16 Jul 2012 12:57 PM PDT

Oil prices climbed for a fourth day on hopes that the Federal Reserve will take additional steps to prop up the economy.

Sea Treaty all but dead, 34 GOP senators oppose

Posted: 16 Jul 2012 12:56 PM PDT

A treaty governing the high seas is all but dead in the Senate as two Republican senators announced their opposition Monday, giving conservative foes the necessary votes to scuttle the pact.

Death penalty tossed in killing of rocker's mom

Posted: 16 Jul 2012 12:55 PM PDT

This June 8, 2007 photo provided by the California Department of Corrections shows convicted murderer, John Riccardi. On Monday, July 16, 2012, the California Supreme Court tossed out the death sentence for Riccardi, who is convicted of killing rock guitarist Dave Navarro's mother nearly 30 years ago. The ruling, which says the judge improperly barred from the jury anyone who said they opposed the death penalty, impacts an untold number of inmates on California's Death Row, including Scott Peterson. (AP Photo/California Department of Corrections)The California Supreme Court on Monday tossed out the death sentence of a man convicted of murdering rock guitarist Dave Navarro's mother and her friend nearly 30 years ago — a ruling that could affect the cases of Scott Peterson and other death row inmates.

Oil price rises on stimulus hopes

Posted: 16 Jul 2012 12:54 PM PDT

Oil prices climbed for a fourth day on hopes that the Federal Reserve will take additional steps to prop up the economy.

Forest fire rages near Tenerife tourist park

Posted: 16 Jul 2012 12:44 PM PDT

Dark clouds of smoke billow from a wildfire over the town of Adeje on the Spanish Canary island of TenerifeA forest fire raging on the Spanish island of Tenerife reached the edge of a major tourist park Monday, spewing thick smoke and red sparks.

U.S. Navy fires on fishing boat near UAE; 1 killed

Posted: 16 Jul 2012 12:40 PM PDT

U.S. Navy supply ship Rappahannock at sea in this handout photo taken in the South China SeaDUBAI/WASHINGTON (Reuters) - One person was killed and three others injured on Monday when a U.S. Navy ship fired at an approaching fishing boat off the United Arab Emirates, but officials did not immediately blame terrorism or cite an Iran-link to the still-murky incident. Why the boat approached the U.S. refuel ling ship, the USNS Rappahannock, was still unclear, U.S. officials said. But the U.S. Navy said the small motor boat ignored repeated warnings to halt its approach before a security team fired rounds from a .50-caliber machine gun. Even small boats dwarfed by the size of the U.S. ...

Woman claims Zimmerman molested her as a child

Posted: 16 Jul 2012 12:40 PM PDT

A Florida woman claims she was molested as a child by George Zimmerman, the former neighborhood watch volunteer who is charged in the fatal shooting of Trayvon Martin.

Microsoft revamps Office for tablets, Internet

Posted: 16 Jul 2012 12:39 PM PDT

Microsoft unveiled a new version of its widely used, lucrative suite of word processing, spreadsheet and email programs, one designed specifically with tablet computers and Internet-based storage in mind.

Millions spent on upkeep of empty Katrina lots

Posted: 16 Jul 2012 12:38 PM PDT

In this May 10, 2012 photo, homeowner Jim Provensal walks around a blighted home next door to his home, which is managed by the Louisiana Land Trust, an agency set up to handle the wrecked properties using federal funds, in New Orleans. More than 3,000 lots flooded by Hurricane Katrina and bought with federal money in an emergency bailout sit idle across this city: a multimillion-dollar drain on federal, state and city coffers that lends itself to no easy solution. An Associated Press examination of the properties sold to the government by homeowners abandoning New Orleans after the catastrophic 2005 flood has found that about $86 million has been spent on handling a total of 5,100 abandoned parcels. And there's no end in sight to maintenance costs for perhaps most of the 3,100 properties that remain unsold. (AP Photo/Gerald Herbert)More than 3,000 lots flooded by Hurricane Katrina and bought with federal money in an emergency bailout sit idle across this city — a multimillion-dollar drain on federal, state and city coffers that lends itself to no easy solution.

Aide says Romney could announce VP pick this week

Posted: 16 Jul 2012 12:36 PM PDT

Republican presidential candidate Mitt Romney could name his running mate by the end of the week, a top adviser said Monday.

Broadway to honor Celeste Holm by dimming lights

Posted: 16 Jul 2012 12:34 PM PDT

In a 1948 file photo actress Celeste Holm poses as her character Anne from the motion picture "Gentleman's Agreement." Holm, who won an Oscar in The lights on Broadway will be dimmed Wednesday in honor of the late Oscar-winning actress Celeste Holm.

India dismisses Obama concern over economy

Posted: 16 Jul 2012 12:33 PM PDT

US President Barack Obama reaches out to shake hands with India's Prime Minister Manmohan Singh (L)Indian politicians on Monday rejected US President Barack Obama's concerns about the investment climate in the country, which has recently suffered a sharp slowdown in economic growth.

Fla. teen convicted in middle school beating case

Posted: 16 Jul 2012 12:32 PM PDT

A jury on Monday convicted a teenager of attempted murder in a vicious kicking and stomping attack on a girl outside a middle school in 2010, rejecting his claims of insanity.

Former Barclays exec admits false LIBOR submission

Posted: 16 Jul 2012 12:30 PM PDT

Former Barclays Bank Chief Operating Officer Jerry del Missier arrives to give evidence on interbank rates fixing to the Treasury Select Committee at Portcullis House in London, Monday, July 16, 2012.(AP Photo/Sang Tan)A former top Barclays executive admitted ordering staff to submit false interest rates during the credit crisis in 2008 because he believed his action had been sanctioned by the Bank of England.

Fedrigo wins Tour stage; Wiggins keeps lead

Posted: 16 Jul 2012 12:25 PM PDT

Stage winner Pierrick Fedrigo of France celebrates on the podium of the 15th stage of the Tour de France cycling race over 158.5 kilometers (98.5 miles) with start in Samatan and finish in Pau, France, Monday July 16, 2012. (AP Photo/Laurent Cipriani)Pierrick Fedrigo of France won the 15th stage of the Tour de France on Monday while Bradley Wiggins kept the overall lead by staying with his rivals in the main pack far behind.

Microsoft revamps Office, touch screens in mind

Posted: 16 Jul 2012 12:23 PM PDT

Microsoft unveiled a new version of its widely used, lucrative suite of word processing, spreadsheet and email programs, one designed specifically with tablet computers and Internet-based storage in mind.

Human Genome agrees to GlaxoSmithKline takeover

Posted: 16 Jul 2012 12:20 PM PDT

U.K. drug maker GlaxoSmithKline has secured its takeover of longtime partner Human Genome Sciences after agreeing to pay more, a move to expand GSK's drug portfolio in crucial areas: biologic drugs and treatments for the hundreds of millions of people with diabetes and heart disease.

Muslim holy period delays Sept. 11 case at Gitmo

Posted: 16 Jul 2012 12:19 PM PDT

A U.S. military judge agreed Monday to postpone the next court hearings at the Guantanamo Bay prison for five men charged in the Sept. 11 attacks to avoid a conflict with the Muslim holy period of Ramadan.

Russia accuses West of blackmail, stands firm on Syria

Posted: 16 Jul 2012 12:17 PM PDT

Russia's FM Lavrov speaks during a news conference in MoscowMOSCOW (Reuters) - Russia said on Monday it would block moves at the U.N. Security Council to extend a U.N. monitoring mission in Syria if Western powers did not stop resorting to "blackmail" by threatening sanctions against Damascus. Foreign Minister Sergei Lavrov staked out a tough position ahead of a two-hour long talk in Moscow with U.N. envoy Kofi Annan, dismissing international pressure on Russia and China to stop propping up Syrian President Bashar al-Assad. ...

Congo, Rwanda agree to mount force against rebels

Posted: 16 Jul 2012 12:15 PM PDT

The leaders of Congo and Rwanda have agreed in principle to back a neutral international armed force to combat Congo's newest rebellion and other fighters terrorizing civilians in the country's mineral-rich east, and the African Union said it could help by sending soldiers.

'Encyclopedia Brown' author Sobol dies at 87

Posted: 16 Jul 2012 12:13 PM PDT

Donald J. Sobol, author of the popular "Encyclopedia Brown" series of children's mysteries, has died. He was 87.

2 Americans kidnapped in Egypt's Sinai are freed

Posted: 16 Jul 2012 12:11 PM PDT

Rev. Michel Louis, 61, left, and 39-year-old Lissa Alphonse, second right, rest after their release at a police station in El Arish, in the northern part of Egypt's Sinai Peninsula, Monday, July 16, 2012. Two American tourists and their Egyptian guide who were abducted by a Bedouin in Egypt's Sinai Peninsula last week were released unharmed on Monday, a security official and the kidnapper told The Associated Press. The kidnapper, Jirmy Abu-Masuh, told AP that he had handed the three over to security officials near the northern Sinai city of el-Arish on Monday after he was promised that authorities were working on his uncle's release. (AP Photo)Two American tourists and their Egyptian guide who were abducted by a Bedouin in Egypt's Sinai Peninsula last week were released unharmed on Monday after negotiations with security officials and tribal leaders.

Obama criticizes Romney corporate tax proposals

Posted: 16 Jul 2012 12:10 PM PDT

President Barack Obama speaks at a campaign event at the Cincinnati Music Hall in Cincinnati, Monday, July 16, 2012. Obama is spending the day campaigning in Cincinnati. (AP Photo/Susan Walsh)President Barack Obama on Monday mocked Mitt Romney's economic vision, saying the only jobs plan his Republican rival has would create plenty of work for people overseas.

Retail sales fall for third straight month in June

Posted: 16 Jul 2012 12:10 PM PDT

A customer passes a display of tools at a Lowe's store in QuincyWASHINGTON (Reuters) - Retail sales fell in June for the third straight month, the longest run of consecutive drops since 2008 when the country was mired in recession. Sales slipped 0.5 percent, with declines across a wide swath of industries from electronics and cars to building supplies, the Commerce Department said on Monday. Analysts had expected a small increase. "Evidence is increasingly clear that the U.S. economy is slowing," said Jim Baird, an investment strategist at Plante Moran Financial Advisors in Kalamazoo, Michigan. ...

Microsoft unveils Office upgrade

Posted: 16 Jul 2012 12:08 PM PDT

Microsoft is unveiling a new version of its widely used suite of word processing, spreadsheet and email programs.

Ultra-Orthodox Jews protest Israel draft plans

Posted: 16 Jul 2012 12:06 PM PDT

An Ultra Orthodox Jewish man caries a Handcuffed boy during a protest against attempts to draft members of the cloistered community into the Israeli military, in an ultra Orthodox neighborhood in Jerusalem, Israel, Monday, July 16, 2012. Thousands of ultra-Orthodox Jews, including hundreds of children, are protesting against attempts to draft members of the cloistered community into the Israeli military. The government is currently trying to find a formula to obligate ultra-Orthodox Jews to serve in the military before a court-determined Aug. 1 deadline. ? The current law largely exempts the community from military service. That infuriates many Israelis, since almost all are required to serve. Israel's Supreme Court ruled the law must be revised. (AP Photo/Oded Balilty)Thousands of ultra-Orthodox Jews protested Monday in Jerusalem against attempts to draft members of the cloistered community into the Israeli military.

Witnesses: man in Mali gets 50 lashes for drinking

Posted: 16 Jul 2012 12:00 PM PDT

Witnesses say a man accused of drinking alcohol has been given about 50 whip lashes by radical Islamists who have seized control of parts of northern Mali.

Correction: Seizing Mortgages story

Posted: 16 Jul 2012 12:00 PM PDT

In a story July 15 about a proposal for cities and counties to use the power of eminent domain to seize mortgages and help homeowners into more manageable payments, The Associated Press reported erroneously that Robert Hockett, a Cornell University law professor, likes that the proposal forces the hand of uncooperative investors. Hockett said that he likes that the proposal forces the hand of some investment bankers who have stifled plans to reduce principal.
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