Another Nominee with Problems? Commerce Sec Pick Locke Tied to China Cash

March 18, 2009

Commerce Secretary nominee Gary Locke, whose job would include approving sensitive exports to China, has performed legal work for companies doing business with Beijing and was forced to refund several political donations that he received in the 1990s from key figures in a Chinese influence-buying investigation.

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IBM in Talks to Buy Sun Microsystems

March 18, 2009

BANGALORE (Reuters) – IBM is in talks to buy Sun Microsystems Inc for at least $6.5 billion, The Wall Street Journal reported, in a deal that could bolster their computer server products against rivals such as Hewlett-Packard Co. That would translate into a premium of about 100 percent over Sun’s Nasdaq closing price Tuesday of […]

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Medvedev Pushes Ahead with Russian Rearmament

March 18, 2009

MOSCOW, March 17 — President Dmitry Medvedev vowed Tuesday to press ahead with an ambitious overhaul of Russia’s armed forces despite the nation’s economic problems and vocal opposition from within the military. Medvedev promised weapons upgrades but also endorsed organizational changes that will cut the officer corps by more than half, or as many as […]

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Discovery Hits Amazon with Kindle Patent Suit

March 18, 2009

Discovery Communications, parent company of the Discovery Channel and Animal Planet, has filed a complaint against Amazon.com alleging that some security and copy protection features in the Kindle and Kindle 2 violate the company’s patents.

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Heffer: Perhaps Obama Can't Fix it After All?

March 18, 2009

Even in the worst economic crisis since the 1930s, New York knows how to throw a party. For most of yesterday hundreds of thousands of people made a sea of green that paraded up Fifth Avenue to mark St Patrick’s Day. Tens of thousands lined the street to watch them. The all-day party, fuelled by […]

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Kudlow: The AIG Outrage

March 18, 2009

This whole AIG fiasco — where the entire political class is suddenly screaming over bonuses paid to derivative traders in AIG’s financial-products division — is just a complete farce. What it really shows is how the government has completely bungled the AIG takeover. Blame the Bush administration and the Obama administration. It also shows, once […]

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Battling the CRA Myth

March 18, 2009

Amid the ongoing debate over mortgage lending reform, a top federal regulator took a seat before Congress last week and debunked the myth — popular among conservatives — that a law encouraging loans to low-income communities has been largely responsible for the nation’s housing crisis. “I can state very definitively,” Sandra Braunstein, director of the […]

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Jump in Home Construction Raises Market Hopes

March 18, 2009

The government reported Tuesday a rebound in home construction and rising wholesale prices last month, the latest figures showing firmer demand amid the U.S. recession. Home construction jumped by a seasonally adjusted 22% in February from the previous month following seven consecutive declines as apartment construction soared and single-family home-building edged higher, the Commerce Department […]

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Natasha Richardson's Family Gathers Near Injured Actress

March 18, 2009

NEW YORK – Members of Natasha Richardson’s family gathered at a New York hospital where the Tony-winning actress was reportedly taken with a serious head injury after falling on a Canadian ski slope. Richardson, 45, part of the Redgrave dynasty of British actors and the wife of Liam Neeson, was flown from Montreal to New […]

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Forecast: EU Jobless Rate Climbs Toward 10%

March 18, 2009

BRUSSELS — The European Union’s unemployment rate is headed toward 10%, but governments see no immediate need for further fiscal-stimulus measures, European Commission President José Manuel Barroso said Tuesday. The forecast came alongside news from Germany of a mild improvement in investor sentiment, clashing with a recent array of negative production and employment indicators. The […]

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