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Monday, July 15, 2013

Trial of ex-Goldman Sachs trader opens in New York

Trial of ex-Goldman Sachs trader opens in New York

Trial of ex-Goldman Sachs trader opens in New York

Posted: 15 Jul 2013 12:51 PM PDT

Former Goldman Sachs Group Inc. executive Fabrice Tourre, right, enters Manhattan federal court on the first day of his trial, Monday, July 15, 2013, in New York. Tourre is accused of misleading investors about the true prospects of their bet on a package of mortgage-based securities. (AP Photo/Louis Lanzano)NEW YORK (AP) — Jurors at a Manhattan trial of a former Goldman Sachs trader heard him described Monday both as an architect of a massive securities fraud and as a low-level scapegoat for the mortgage market meltdown that began in 2007.

Hundreds protest Israeli Bedouin resettlement plan

Posted: 15 Jul 2013 12:50 PM PDT

A protester shouts slogans as others hold Palestinian flags during a demonstration against an Israel's plan to relocate nearly 30,000 Bedouins from the southern Negev desert, in Tel Aviv, Israel, Monday, July 15, 2013. Hundreds of protesters have staged demonstrations in Israel against a plan to resettle nomadic Bedouin Arabs in the southern Negev desert. Arab rights groups called the protests. They are fighting a bill that would move thousands of Bedouins into government-recognized villages. Bedouins charge that the plan would confiscate their land and destroy their way of life. Israel says the moves are necessary to provide basic services that many Bedouins lack. The red letters in the sign at center reads ,"Bedouin." (AP Photo/Ariel Schalit)JERUSALEM (AP) — Hundreds of protesters have staged demonstrations in Israel against a plan to resettle nomadic Bedouin Arabs in the southern Negev desert.

Holder calls Martin killing an 'unnecessary shooting'

Posted: 15 Jul 2013 12:48 PM PDT

Attorney General Eric Holder speaks at the Delta Sigma Thetas Social Action luncheon, part of the sorority's 51st National Convention in Washington, Monday, July 15, 2013. Holder said the killing of Trayvon Martin was a "tragic, unnecessary shooting" and that the 17-year-old's death provides an opportunity for the nation to speak honestly about complicated and emotionally charged issues. In his first comments since the acquittal of George Zimmerman in the Martin case, the attorney general said that Martin's parents have suffered a pain that no parent should have to endure. He said the nation must not forgo an opportunity toward better understanding of one another. (AP Photo/Pablo Martinez Monsivais)WASHINGTON (AP) — Attorney General Eric Holder on Monday called the killing of Trayvon Martin a "tragic, unnecessary shooting," and said the Justice Department will follow "the facts and the law" as it reviews evidence to see whether federal criminal charges are warranted.

Russia's Putin wants Snowden to go, but asylum not ruled out

Posted: 15 Jul 2013 12:46 PM PDT

Russian President Vladimir Putin visits museum in ProkhorovkaBy Alexei Anishchuk GOGLAND ISLAND, Russia (Reuters) - President Vladimir Putin said on Monday he wanted Edward Snowden to leave after three weeks holed up at a Moscow airport, but also signaled that the former U.S. spy agency contractor was moving towards meeting Russia's asylum conditions. Snowden flew to Moscow's Sheremetyevo airport from Hong Kong on June 23 in the hope of travelling on to a country that would offer him protection from the United States after he divulged details of U.S. government intelligence programs. ...

Kerry set to return to roiling Middle East

Posted: 15 Jul 2013 12:45 PM PDT

WASHINGTON (AP) — Secretary of State John Kerry is returning to the Middle East this week amid rising tensions in Egypt and deteriorating conditions in Syria that threaten to put his signature effort to re-launch Israeli-Palestinian peace talks on the back burner.

With Corbat at helm, Citi's profit, revenue rise

Posted: 15 Jul 2013 12:45 PM PDT

FILE - This Wednesday, Dec. 5, 2012 file photo, shows a Citi Bank sign in Chicago. Citigroup turned in a strong first quarter, but the sentiment from the bank was more cautious than celebratory. Citigroup Inc. reports quarterly financial results before the market opens on Monday, July 15, 2013. (AP Photo/Kiichiro Sato, File)NEW YORK (AP) — It was nine months ago Tuesday that Mike Corbat was handed the reins of Citigroup and tasked with turning around the struggling banking giant. On Monday, the bank announced second-quarter results that beat Wall Street expectations and sent the stock higher — a result that analysts said was from the new CEO's skill, rather than just luck.

Cuban, US diplomats increasingly allowed to travel

Posted: 15 Jul 2013 12:45 PM PDT

FILE - In this Jan. 14, 2013 file photo, Cubans wait to enter the U.S. Interests Section to apply for U.S. visas in Havana, Cuba. Travel is part of a larger, slow-moving thaw between the two countries and comes as both prepare for a sit-down talk on migration issues on Wednesday, July 17, 2013. (AP Photo/Ramon Espinosa, File)MIAMI (AP) — For decades, Cuban and U.S. diplomats have faced strict limits on their travel within the Cold War enemy countries.

Prosecution wants Chris Brown's probation revoked

Posted: 15 Jul 2013 12:45 PM PDT

LOS ANGELES (AP) — Los Angeles prosecutors have moved to revoke probation for singer Chris Brown, who was charged last month with misdemeanor hit-and-run and driving without a valid license.

'Glee' convention becomes memorial for Monteith

Posted: 15 Jul 2013 12:43 PM PDT

A handwritten card is placed among flowers at a small memorial to Canadian actor Cory Monteith outside the Fairmont Pacific Rim Hotel in Vancouver, British Columbia, on Sunday July 14, 2013. Monteith's body was found in a room at the hotel Saturday. (AP Photo/The Canadian Press, Darryl Dyck)What was supposed to be a weekend celebration of the musical TV series "Glee" turned into an impromptu memorial of song and dance for Cory Monteith after news of the "Glee" co-star's death rocked a "Glee" fan convention in England.

Rebel infighting in Syria undermining revolt

Posted: 15 Jul 2013 12:41 PM PDT

FILE - This Friday, Jan. 11, 2013 file citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, shows rebels from al-Qaida affiliated Jabhat al-Nusra waving their brigade flag as they stand on a Syrian air force helicopter, at Taftanaz air base that was captured by the rebels, in Idlib province, northern Syria. Arabic on the flag reads, "There is no God but Allah and Mohammed is his prophet, Jabhat al-Nusra." On Syria's front lines, rebels fighting to topple President Bashar Assad have turned against each other in a fight between al-Qaida-linked groups and more mainstream factions that has stalled advances on the battlefield and thrown the rebellion into turmoil. After violent clashes and the assassination of two rebel commanders, one of whom was beheaded, more moderate factions are openly accusing the hard-liners they once saw as allies of trying to take over the movement. (AP Photo/Edlib News Network ENN, File)BEIRUT (AP) — On Syria's front lines, al-Qaida fighters and more mainstream Syrian rebels have turned against each other in a power struggle that has undermined the effort to topple Syrian President Bashar Assad.

Chile court rules for Indians against Barrick Gold

Posted: 15 Jul 2013 12:40 PM PDT

SANTIAGO, Chile (AP) — A Chilean appeals court ruled against the world's largest gold mining company on Monday, favoring Chilean Indians who accuse Barrick Gold Corp. of contaminating their water downstream.

Wal-Mart faceoff with DC fuels minimum wage debate

Posted: 15 Jul 2013 12:40 PM PDT

A worker collects shopping carts in the parking lot at Wal-Mart, Friday, July 12, 2013, in Bristol, Pa. The bitter standoff between Wal-Mart and officials in Washington, D.C., over the city's effort to impose a higher minimum wage on big-box retailers is fueling a wider debate about how far cities should go in trying to raise pay for low-wage workers. (AP Photo/Matt Rourke)WASHINGTON (AP) — The bitter standoff between Wal-Mart and Washington, D.C. officials over the city's effort to impose a higher minimum wage on big-box retailers is fueling a wider debate about how far cities should go in trying to raise pay for low-wage workers — and whether larger companies should be required to pay more.

NH woman gets 10 years in Rwanda fraud case

Posted: 15 Jul 2013 12:39 PM PDT

CONCORD, N.H. (AP) — A New Hampshire woman who lied about her role in the 1994 Rwanda genocide was sentenced Monday to 10 years in prison, a fate her lawyers say is tantamount to a death sentence.

Reid warns of using Senate 'nuclear option' on filibusters

Posted: 15 Jul 2013 12:37 PM PDT

Senate Majority Leader Reid speaks about "Ending Senate Gridlock" at the Center for American Progress Action Fund in WashingtonBy Thomas Ferraro WASHINGTON (Reuters) - Senate Majority Leader Harry Reid warned Republicans on Monday that if they do not permit seven of President Barack Obama's executive-branch nominees to be confirmed, he would move to strip the Republicans of their power to stop such nominations using the procedural hurdle called a filibuster. ...

Mexico sets $100 billion rail, ports, roads plan

Posted: 15 Jul 2013 12:36 PM PDT

MEXICO CITY (AP) — The Mexican government has announced plans to invest about $100 billion in rail, road and port projects over the next five years, including Mexico's first high-speed rail links.

Oil higher; pump prices rise to $3.61 a gallon

Posted: 15 Jul 2013 12:35 PM PDT

NEW YORK (AP) — The price of oil rose Monday as a report of weaker economic growth in China slowed but could not halt crude's upward momentum.

Bitten by hungry T. rex, this dinosaur got away

Posted: 15 Jul 2013 12:34 PM PDT

FILE - This Thursday, April 28, 2011 file photo shows a Tyrannosaurus rex dinosaur replica at the Woodland Park Zoo in Seattle. Scientists have unearthed a dramatic remnant of an encounter between a Tyrannosaurus rex and a creature that got away, providing strong new evidence that the famous dinosaur hunted for food. Results were published in the Monday, July 15, 2013, issue of the Proceedings of the National Academy of Science. (AP Photo/Elaine Thompson)NEW YORK (AP) — The fearsome bite of a hungry Tyrannosaurus rex left behind new evidence that the famous beast hunted for food and wasn't just a scavenger.

Maker of 787 transmitter joining UK fire probe

Posted: 15 Jul 2013 12:32 PM PDT

The maker of an emergency transmitter for Boeing's 787 says it has joined the U.K. investigation into last week's fire on one of the planes.

Senate filibusters rarely follow Hollywood script

Posted: 15 Jul 2013 12:30 PM PDT

WASHINGTON (AP) — Filibusters let minority parties tie the Senate in knots and send majority parties through the roof with frustration. But they seldom involve exhausted senators speaking endlessly on the chamber's floor.

Expert: Jackson would have earned $1B on comeback

Posted: 15 Jul 2013 12:30 PM PDT

LOS ANGELES (AP) — An entertainment accounting expert says Michael Jackson could have earned $1.1 billion or more if he had performed a worldwide concert tour and created a Las Vegas show before his death.

Twinkies may be smaller than people recall

Posted: 15 Jul 2013 12:27 PM PDT

FILE-- In this Friday, July 12, 2013, file photo Jo Mullen picks up a box of Twinkies at Wal-Mart, in Bristol, Pa. The new owners of Hostess have leaner operating costs now that they're no longer using unionized workers. It turns out the spongy yellow cakes may also be a little smaller than the last Twinkies people remember eating. (AP Photo/Matt Rourke)NEW YORK (AP) — Twinkies are back, but they may be a bit smaller than you remember.

Syrian regime attacks on villages in north kill 29

Posted: 15 Jul 2013 12:27 PM PDT

In this image taken from leaked video obtained by Ugarit News and posted on Monday, July 15, 2013, which has been authenticated based on its contents and other AP reporting, purports to show forces loyal to President Bashar Assad firing rockets into Homs, Syria. After seizing the momentum in recent months in Syria's civil war, President Bashar Assad's forces are on the offensive against the rebels on several fronts, including in Idlib province along the border with Turkey. Government forces are in firm control of the provincial capital of same name, while dozens of rebel brigades control the countryside.(AP Photo/Ugarit News via AP video)BEIRUT (AP) — Syrian government troops pounded rebel-held villages around the northern city of Idlib with rockets, artillery and airstrikes, killing at least 29 people, including six children, activists said Monday.

Reid: GOP can avoid rules change if they confirm 7

Posted: 15 Jul 2013 12:26 PM PDT

Senate Majority Leader Harry Reid, D-Nev., speaks at the center for American Progress Action Fund in Washington, Monday, July 15, 2013. Reid spoke about ending the current gridlock in the Senate that according to him is harming the nation's ability to address key challenges. (AP Photo/Pablo Martinez Monsivais)WASHINGTON (AP) — Senate Majority Leader Harry Reid said Monday that Republicans must confirm at least seven presidential appointees they've been blocking if they want to avoid a controversial change in Senate rules as early as this week.

Spanish prime minister rejects calls to step down over scandal

Posted: 15 Jul 2013 12:23 PM PDT

Spain's PM Rajoy pauses during a joint news conference with his Polish counterpart Donald Tusk at Moncloa Palace in MadridBy Emma Pinedo and Andrés González MADRID (Reuters) - Spanish Prime Minister Mariano Rajoy on Monday rejected calls to resign over a ruling party financing scandal and said he would not allow the matter to hold back his reform plans. The political pressure mounted on Rajoy as the former treasurer of his center-right People's Party gave new testimony before a judge looking into the affair, saying he had made 90,000 euros in cash payments to Rajoy and party secretary-general Maria Dolores Cospedal in 2009 and 2010. ...

Gallup agrees to pay $10.5M to settle allegations

Posted: 15 Jul 2013 12:22 PM PDT

WASHINGTON (AP) — The Justice Department said Monday the Gallup Organization has agreed to pay $10.5 million to settle allegations that the polling and market research firm improperly inflated prices for proposed contracts with the U.S. Mint and State Department.

Obama praises HW Bush for volunteer initiative

Posted: 15 Jul 2013 12:20 PM PDT

Former President George H. W. Bush sitting next to President Barack Obama, left, recognizes a member of the audience after presenting the 5,000th Daily Point of Light Award in the East Room of the White House of the White House in Washington, Monday, July 15, 2013. Obama welcomed Bush to the White House in a salute to public service and to the drive for volunteerism that the 41st president inspired with his "thousand points of light" initiative more than two decades ago. (AP Photo/Susan Walsh)WASHINGTON (AP) — President Barack Obama welcomed President George H.W. Bush to the White House on Monday in a salute to public service and to the drive for volunteerism that the 41st president inspired with his "thousand points of light" initiative more than two decades ago.

Chill Cairo welcome for U.S. envoy as Mursi supporters gather

Posted: 15 Jul 2013 12:16 PM PDT

A pro-democracy protester burn image of Lieutenant- General El Sisi during demonstration against what they said was a military coup that ousted Egyptian President Mohamed Mursi, in SanaaBy Maggie Fick and Yasmine Saleh CAIRO (Reuters) - The first senior U.S. official to visit Egypt since the army toppled its elected president was snubbed by both Islamists and their opponents on Monday, while huge crowds of supporters of the ousted leader demonstrated in the streets. After meeting the interim head of state and the prime minister, Deputy Secretary of State William Burns insisted he was not in town "to lecture anyone". But many on either side of Egypt's divide suspect Washington of plotting against them. ...

Watchdog finds SEC did not properly vet contractors

Posted: 15 Jul 2013 12:13 PM PDT

A sign for the SEC is pictured in the foyer of the Fort Worth Regional Office in Fort WorthBy Sarah N. Lynch WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission did not properly vet as many as 70 contractors with possible criminal records, including one man who later assaulted his girlfriend in a lobby at SEC headquarters, the agency's internal watchdog has found. A summary of the inspector general's findings was publicly released last fall in a semiannual 2012 report to Congress. A full redacted copy of the investigative report was obtained by Reuters last week through a Freedom of Information Act request. ...

2 Broncos execs suspended for DUI arrests

Posted: 15 Jul 2013 12:07 PM PDT

ENGLEWOOD, Colo. (AP) — The Denver Broncos have suspended two executives who are facing drunken driving charges.

NH woman gets 10 years for role in Rwanda genocide; lawyers plan appeal in face of deportation

Posted: 15 Jul 2013 12:00 PM PDT

CONCORD, N.H. (AP) — NH woman gets 10 years for role in Rwanda genocide; lawyers plan appeal in face of deportation.

Tobacco lobbying row prompts Cameron to rush out new law

Posted: 15 Jul 2013 11:59 AM PDT

Britain's Prime Minister David Cameron speaks at the Conservative Party's annual Spring Forum, in central LondonBy Andrew Osborn and William James LONDON (Reuters) - Prime Minister David Cameron, embroiled in a tobacco lobbying scandal involving one of his top election strategists, will rush out new rules this week to try to clean up the shadowy world of political lobbying. The bill, expected to be published by the government on Wednesday, will force political lobbyists to declare who is paying them to try to influence government policy. ...

White House: Obama won't press DOJ on Zimmerman

Posted: 15 Jul 2013 11:55 AM PDT

WASHINGTON (AP) — The White House says President Barack Obama won't involve himself in decisions by the Justice Department on whether to pursue civil rights charges against George Zimmerman in the shooting death of Trayvon Martin.

Bankrupt Alabama county picks Citigroup to run $1.9 billion bond deal

Posted: 15 Jul 2013 11:49 AM PDT

By Melinda Dickinson BIRMINGHAM (Reuters) - Lawmakers in Alabama's bankrupt Jefferson County on Monday chose Citigroup Global Markets as senior underwriter for a planned $1.9 billion bond refinancing in late 2013 that is central to ending America's biggest municipal bankruptcy case. The county, which last month filed a negotiated plan of adjustment with a U.S. bankruptcy court, also selected Public Resources Advisory Group to act as financial adviser for the sewer warrants deal, according to a resolution passed by county commissioners. ...

Microsoft slashes Surface RT price by $150

Posted: 15 Jul 2013 11:40 AM PDT

LOS ANGELES (AP) — Microsoft Corp. is slashing the price of its Surface RT tablet by $150 as it fights to increase its tiny share of the booming tablet market.

Citigroup profit jumps 42 percent on stronger markets

Posted: 15 Jul 2013 11:34 AM PDT

A Citibank sign is seen outside of a bank outlet in New YorkBy David Henry (Reuters) - Citigroup Inc posted a 42 percent jump in quarterly profit as bond trading revenue gained and stronger home prices helped the bad mortgages on its books, underscoring the bank's recovery since the financial crisis. The third-largest U.S. bank is getting its house in order after years of management problems forced it to seek three U.S. bailouts in 2008 and 2009. ...

Matthews fans meet him in need of ride to his show

Posted: 15 Jul 2013 11:34 AM PDT

FILE - In this June 28, 2013 file photo, Dave Matthews of The Dave Matthews Band performs on stage at the Susquehanna Bank Center in Camden, N.J. Emily Kraus , one of Matthew's fans pulled over to give a stranded cyclist a ride and realized the hitchhiker was none other than Matthews. His bike had broken down Saturday, July 13, before a show in Hershey, Pa. (Photo by Owen Sweeney/Invision/AP, File)HERSHEY, Pa. (AP) — A fan on her way to a Dave Matthews concert in Pennsylvania pulled over to help a stranded bicyclist who turned out to be none other than the singer himself.

Manziel pleads guilty to misdemeanor charge

Posted: 15 Jul 2013 11:33 AM PDT

FILE - In this Nov. 10, 2012 file photo, Texas A&M quarterback Johnny Manziel (2) runs through the tackle of Alabama defensive back Deion Belue (13) during the first half of an NCAA college football game at Bryant-Denny Stadium in Tuscaloosa, Ala. Manziel has pleaded guilty to a misdemeanor charge stemming from his arrest last year for fighting outside a bar near campus. The Heisman Trophy winner made a brief appearance in court Monday, July 15, 2013 in College Station, Texas, and admitted he failed to identify himself to police following the altercation in June 2012. (AP Photo/Dave Martin, File)COLLEGE STATION, Texas (AP) — Texas A&M quarterback Johnny Manziel pleaded guilty Monday to a misdemeanor stemming from a 2012 bar fight near campus, closing a case that had dogged his Heisman Trophy-winning season.

Analysis: Well-known hazards seen as likely factors in Asiana crash

Posted: 15 Jul 2013 11:31 AM PDT

Asiana Airlines Boeing 777 is engulfed in smoke on the tarmac after a crash landing at San Francisco International AirportBy Gerry Shih and Alwyn Scott SAN FRANCISCO/ SEATTLE (Reuters) - In the seconds before Asiana Airlines Flight 214 slammed into a seawall at San Francisco airport on July 6, pilots realized the plane was flying too low and much too slowly - even though, they told investigators, they had set a control system called an auto-throttle to keep the Boeing 777 at a constant speed. The pilots belatedly tried to abort the landing, but it was too late. Three Chinese students died in the crash, and at least 14 people remain in hospitals with severe injuries. The U.S. ...

Kerry to visit Jordan, Israel-Palestinian peace on agenda

Posted: 15 Jul 2013 11:29 AM PDT

U.S. Secretary of State Kerry makes statement regarding meeting with Russian Foreign Minister Lavrov in Bandar Seri BegawanWASHINGTON (Reuters) - U.S. Secretary of State John Kerry will brief Arab officials in Jordan on Wednesday about his push to revive Israeli-Palestinian peace talks, the State Department said but declined comment on whether a resumption may be at hand. Kerry will leave Washington on Monday night to fly to Amman to see officials from Jordan as well as from the Arab League, which in 2002 put forward a peace proposal that offered full Arab recognition of Israel if it gave up land seized in a 1967 war and accepted a "just solution" for Palestinian refugees. ...

Trial of Goldman Sachs trader opens in New York

Posted: 15 Jul 2013 11:28 AM PDT

Former Goldman Sachs Group Inc. executive Fabrice Tourre, right, enters Manhattan federal court on the first day of his trial, Monday, July 15, 2013, in New York. Tourre is accused of misleading investors about the true prospects of their bet on a package of mortgage-based securities. (AP Photo/Louis Lanzano)NEW YORK (AP) — A government lawyer says a former Goldman Sachs trader who referred to himself as "Fabulous Fab" deceived investors about mortgage-based securities in a classic case of "Wall Street greed."
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