Credit rating downgrade brings political pot to a boil

Credit rating downgrade brings political pot to a boil

America’s historic loss of its top-notch credit rating failed to cool the feud between Republicans and President Barack Obama‘s Democrats which threatens to drive the US economy into disaster. Despite being rebuked by ratings blue chip Standard & Poor‘s over political “brinkmanship,” US politicians dug deeper Saturday into inflexible positions on spending cuts, deficits and […]

Did tea party win or lose in debt deal debacle?

Did tea party win or lose in debt deal debacle?

The Tea Party stood at a political crossroads Tuesday, split by a vote on raising the US debt limit after fractious negotiations that saw them declared both the big winners and losers. At issue was the role that the young movement, born of anger at the sour US economy and stoked by establishment Republicans eager […]

Bomb implants: Newest terrorism threat?

Bomb implants: Newest terrorism threat?

US officials have warned airlines terror groups may be mulling implanting bombs under the skins of passengers, reports said Wednesday, but stressed the alert was not linked to any specific threat. The Los Angeles Times said the US administration had warned airlines that extremist groups were considering surgically implanting explosives into people to try to […]

Blackwater merc jailed

Blackwater merc jailed

A US federal judge sentenced a former Blackwater security guard on Monday to 30 months in prison for shooting and killing an Afghan citizen in 2009. The judge also ordered 29-year-old Justin Cannon to serve two years of supervised release after his prison term ends. Cannon and a second Blackwater guard, Christopher Drotleff, 31, were […]

Palin’s bus tour fuels presidential speculation

Palin’s bus tour fuels presidential speculation

Sarah Palin announced a “One Nation” bus tour of the United States, fueling speculation that she will make a run for the US presidency in 2012 elections. The populist former vice-presidential candidate’s move comes as rightwing hopefuls jockey for position in a so-far lackluster field for the Republican nomination, from which two top-polling figures have […]

Android widens lead in smartphone market

Android widens lead in smartphone market

Smartphones powered by Google software widened their lead on BlackBerry handsets in the US market during the first three months of the year, industry tracker comScore reported on Friday. Android smartphones dethroned BlackBerry in January by capturing 31.2 percent of the US market and that share grew to 34.7 percent by the end of March, […]

Former mortgage exec convicted for fraud

Former mortgage exec convicted for fraud

The former head of a large private mortgage lender was convicted Tuesday in a $2.9-billion fraud scheme that contributed to the failure of his company and of one of the top 25 US banks in 2009, officials said. Lee Bentley Farkas, the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), […]

A year later, BP spill damage lingers

A year later, BP spill damage lingers

The worst maritime oil spill in history began nearly a year ago with a drop in pressure in a poorly drilled well deep in the Gulf of Mexico. It hasn’t really ended even though BP’s runaway well was eventually capped 87 days later. As crews in Japan struggle to contain a nuclear meltdown at a […]

Food price surge fuels biofuel critics

Food price surge fuels biofuel critics

A surge in global food prices has prompted fresh criticism of US subsidies for ethanol, which diverts massive amounts of corn from global food supplies for energy. Producers of ethanol argue that the biofuel helps blunt the impact of high imported petroleum prices, but critics say the US policy giving tax breaks for ethanol used […]