BP lays a lot of cash on House Republicans

Oil mega-giant British Petroleum knows that if it wants to keep polluting the Gulf of Mexico it will need support from the Republicans in Congress. So that’s where the oil company is spending its money. Federal Election Commission reports show BP is maxing out contributions to top GOP leaders of the House. House Speaker John Boehner got a check for $5,000. That’s the most BP can give…for now. BP also sent a check for five grand to House Energy and Commerce Committee Chairman Fred Upton. Upton’s office says he sent the check back. The National Republican Congressional Committee and the
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Gingrich struggles to raise campaign cash

Former Speaker of the House Newt Gingrich, once the bombastic face of the Republican Party, is no longer the golden boy of the GOP. Documents filed with the Federal Election Commission show Gingrich’s political action committee raised a paltry $34,000 for March and only $53,000 for the year — an indicator that the Georgia Republican will have problems getting the cash he needs to mount a serious Presidential campaign for 2012. Sources tell Capitol Hill Blue that Gingrich’s PAC curtailed its fund-raising activities in mid-March, another indicator that he may be reconsidering a Presidential run. Gingrich, the acknowledged leader of
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Yahoo beats the Street with higher earnings report

Yahoo Inc said an important partnership with Microsoft Corp is taking longer than expected to pay off, but the company posted quarterly earnings that topped Wall Street targets, sending shares up in after-hours trading. The mixed progress report comes as expectations for the Web portal remain low two years into Chief Executive Carol Bartz’ effort to revive growth at the company. “Clearly there is some improvement in the business here, both from a topline perspective and a margin perspective,” said Pacific Crest Securities analyst Steve Weinstein. “The growth in their display business, when you peel everything back, continues to look
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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), was convicted in a Virginia federal court of conspiracy to commit bank, wire and securities fraud and related charges, the Justice Department said. According to prosecutors, Farkas and his co-conspirators engaged in a scheme that misappropriated more than $1.4 billion from Colonial Bank and $1.5
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Mary Robbins dies just 12 days after husband

Actor-director Tim Robbins’ mother, musician Mary Robbins, has died. She was 78. Robbins’ father, Gil Robbins, died earlier this month. Robbins says his mother died Sunday of a heart arrhythmia, just 12 days after her husband of nearly 59 years passed away. She died at the couple’s home in Esteban Cantu, Mexico. Mary Robbins studied music at the University of California, Los Angeles, and performed professionally in the 1950s. She successfully battled colon cancer through nutrition and alternative medicine, eventually earning a bachelor’s degree in holistic nutrition. She volunteered her services at a clinic near the couple’s Mexico home. Robbins
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Apple set to launch new iPhone in September

Apple’s next-generation iPhone will have a faster processor and will begin shipping in September, three people with direct knowledge of the company’s supply chain said. The production of the new iPhone will start in July/August and the smartphone will look largely similar to the iPhone 4, one of the people said on Wednesday. The iPhone — introduced in 2007 with the touchscreen, on-demand application template now adopted by its rivals — remains the gold standard in the booming smartphone market. Reports on the timeline of the new iPhone launch vary, though it is largely expected that Apple will likely refresh
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