The largest private bank in the United States will reimburse investors billions of dollars for investments that plunged in value when the housing market collapsed. Bank of America announced the $8.5 billion settlement Wednesday, saying the deal would minimize “future economic uncertainty.” A group of 22 investors, including several large financial firms, had been demanding […]
Top Private US Bank Settles Over Sour Investments
Posted June 29th, 2011 at 11:25 am (UTC-5)
Leave a comment
IMF Urges US Congress To Raise Debt Limit
Posted June 29th, 2011 at 11:15 am (UTC-5)
Officials of the International Monetary Fund are urging the U.S. Congress to move promptly to raise the nation’s debt ceiling. An IMF report says inaction could bring sharply increased interest rates that could hurt the U.S. economy and cause problems on world financial markets. U.S. law requires Congress to approve borrowing more than the currently […]
Report: Rights Violations Worsen in Pakistan’s Baluchistan
Posted June 29th, 2011 at 11:15 am (UTC-5)
A Pakistani human rights group says rights violations are rising in Pakistan’s southwest Baluchistan province as militants and security forces increasingly target civilians. In a report released Wednesday, the Human Rights Commission of Pakistan says at least 143 people have disappeared since 2009. The group says in these cases, there was evidence to substantiate the […]
Wildfire Threatens Area Around US National Nuclear Lab
Posted June 29th, 2011 at 11:10 am (UTC-5)
The U.S. national nuclear laboratory in Los Alamos, New Mexico, is expected to remain closed until Thursday as a large wildfire threatens the area around the facility. The lab said in a statement it will be closed for all activities and that nonessential employees are expected to remain off-site. The lab and residents of the […]
Kidnapped French Journalists Freed in Afghanistan
Posted June 29th, 2011 at 11:10 am (UTC-5)
Two French journalists who were kidnapped in Afghanistan in 2009 have been freed by their captors. The office of French President Nicolas Sarkozy said Wednesday that reporters for France-3 television, Stephane Taponier and Herve Ghesquiere, have been released. Their Afghan translator, Reza Din, was also freed. The president’s office did not give further details. The […]
Greek Parliament Approves Austerity Plan
Posted June 29th, 2011 at 11:00 am (UTC-5)
The Greek parliament has approved the first step in sweeping new austerity measures aimed at securing international financing for the debt-ridden nation. Socialist Prime Minister George Papandreou won passage Wednesday of his $40 billion plan to increase taxes, cut spending and sell state-owned assets. The plan was approved on a 155-to-138 vote, a wider than […]
1,000 Injured as Egyptian Police Clash with Protesters in Cairo
Posted June 29th, 2011 at 11:00 am (UTC-5)
Egypt’s health ministry says violent confrontations between police and protesters in central Cairo have injured more than a thousand people in the largest outbreak of unrest to hit the Egyptian capital in weeks. Witnesses say most of those injured in the protests that began late Tuesday and lasted into Wednesday suffered smoke inhalation from tear […]
France Provided Weapons, Food to Libyan Rebels
Posted June 29th, 2011 at 10:55 am (UTC-5)
French military officials say they aided Libyan rebels this month with weapons, munitions and food in their battle against government forces in the western Libyan mountains. Western news agencies on Wednesday quote unidentified French military officials confirming a Le Figaro newspaper reports of “large amounts” of weapons parachuted into the Jebel Nafusa region. Rebels on […]
Ukraine Court Adjourns Tymoshenko Trial
Posted June 29th, 2011 at 10:50 am (UTC-5)
A Ukranian court on Wednesday adjourned the trial of opposition politician and former prime minister Yulia Tymoshenko. Judge Rodion Kireyev postponed the proceedings after Ms. Tymoshenko asked for more time to go over the charges against her. The trial is to resume July 4. Ms. Tymoshenko, who is accused of abusing the office of prime […]
New Security Measures Imposed in Nigerian Capital
Posted June 29th, 2011 at 10:35 am (UTC-5)
Authorities in Nigeria have imposed new security measures in the capital, Abuja, following a deadly bomb attack at the national police headquarters. City administrators announced the security measures for a range of popular gathering places in a statement Wednesday. Nightclubs, beer gardens and cinemas in Abuja are now required to close by 10 p.m. Places […]
