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Report: Major Banks Facing Federal Lawsuit over Faulty Mortgage-Backed Stocks

Posted September 2nd, 2011 at 4:05 am (UTC-5)
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A U.S. newspaper says the federal government is set to file lawsuits against more than 12 massive financial institutions for misrepresenting the quality of mortgage-backed securities that played a role in the 2008 financial crisis. The New York Times says the Federal Housing Finance Agency is taking action against Bank of America, JPMorgan Chase and […]

Tags: , , Posted in Americas

Turkey Reopens Embassy in Libya

Posted September 2nd, 2011 at 3:50 am (UTC-5)
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Turkey reopened its embassy in Libya on Friday, a day after world leaders agreed to unfreeze billions of dollars of Libyan assets to help the country’s interim government rebuild. The Turkish foreign ministry said its diplomatic team with new ambassador Ali Kemal Aydin left Ankara for Tunisia Thursday and was traveling to Tripoli to start […]

Tags: , , Posted in Middle East

South Korea Allows Buddhist Monks to Travel to North

Posted September 2nd, 2011 at 3:45 am (UTC-5)
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South Korea is allowing a delegation of Buddhist monks to take part in a religious ceremony in North Korea, the first trip of its kind since Seoul accused Pyongyang of sinking one of its warships last year. The 37-member delegation will embark Saturday on a five-day trip to North Korea, where the group will participate […]

Japan’s Nikkei Closes in Negative Territory

Posted September 2nd, 2011 at 2:45 am (UTC-5)
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Japanese markets closed down Friday, while the U.S. dollar is trading slightly lower against the Japanese yen. Tokyo’s Nikkei index lost nearly one and one-quarter percent to finish at 8,951. The dollar was selling at 76.82 yen, a loss of one-tenth of a yen from Thursday. The Taipei market ended its session Friday at 7,757, […]

Police Ban Protest Marches in London

Posted September 2nd, 2011 at 2:40 am (UTC-5)
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British police will enforce a 30-day ban on protest marches in five London boroughs starting Friday. The Metropolitan Police Service got permission from Britain’s Home Secretary to impose the ban in Newham, Tower Hamlets, Waltham Forest, Islington and Hackney. Those areas were at the center of last month’s violent riots and heavy fighting with police. […]

Tags: , Posted in Europe

New Japan PM Announces New Cabinet

Posted September 2nd, 2011 at 2:30 am (UTC-5)
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Japan’s recently-appointed prime minister has announced a new government aimed at guiding the country through a fragile post-earthquake recovery and a shaky economy. Yoshihiko Noda on Friday named Jun Azumi, a news reporter turned parliamentary affairs chief of the country’s ruling Democratic party, as his new finance minister. Koichiro Gemba, the outgoing national strategy minister, […]

Tags: , Posted in East Asia Pacific

India Says China Confronted Ship in Vietnamese Waters

Posted September 2nd, 2011 at 2:05 am (UTC-5)
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Indian officials say a naval vessel travelling off the coast of Vietnam was confronted by a Chinese warship last month in the South China Sea. An Indian foreign ministry spokesman says the INS Airavat was 83 kilometers off the coast of Vietnam on July 22, when it received a radio transmission from an unidentified Chinese […]

Tags: , , Posted in East Asia Pacific

Typhoon Talas to Make Landfall in Japan

Posted September 2nd, 2011 at 1:20 am (UTC-5)
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Japanese residents are bracing for the arrival of Typhoon Talas, a major storm expected to bring extended periods of rain and strong winds to many parts of the country. The Japan Meteorological Society said Friday that the large, slow-moving storm is expected to cross over the western and central parts of Japan on Friday and […]

Tags: , Posted in East Asia Pacific

Louisiana Under State of Emergency as New Atlantic Storm Threatens US Gulf Coast

Posted September 2nd, 2011 at 1:00 am (UTC-5)
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The U.S. state of Louisiana has declared a state of emergency as a powerful storm approaches from the Gulf of Mexico. The National Hurricane Center says a tropical depression is located about 365 kilometers southwest of the mouth of the Mississippi River, with maximum winds of 55 kilometers an hour. Forecasters expect it to evolve […]

Tags: , Posted in US

South Korean Police Disperse Protesters at Navy Base Construction Site

Posted September 2nd, 2011 at 12:50 am (UTC-5)
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South Korea has resumed construction of a controversial naval base that has been the site of violent protests in recent weeks. Riot police early Friday ordered the eviction of nearly 100 protesters who were occupying the site, which is located in a small village on the southern island of Jeju. Police arrested 35 people following […]