Tuesday, Jun. 18, 2013
President Obama and former national security contractor Edward Snowden are mounting public relations campaigns over a classified U.S. surveillance program leaked by Snowden, with Obama promising to declassify details and Snowden seeking vindication of his motives.
Advances such as hydraulic fracturing are leading to record production that may outstrip refinery capacity within 18 months to three years. Net petroleum imports now account for about 40 percent of demand, down from 60 percent in 2005.
Private nonresidential construction is losing steam in the U.S., a sign that commercial real estate may be a drag on the economy as business leaders are reluctant to make large property investments.
The cost of living in the U.S. rose 0.1 percent, less than forecast in May, restrained by the first drop in food prices in almost four years and signaling inflation remains under control.
Beginning construction of new U.S. homes increased 6.8 percent, less than forecast, to a 914,000 annualized rate in May and permits to build single-family houses rose to a five-year high, extending a rebound that is helping shore up the expansion.
President Obama said Federal Reserve Chairman Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try.
Rubber is headed for the biggest glut on record, prolonging the bear market that began in April, as supply exceeds demand for a third year and Southeast Asian exporters ended curbs on shipments.
Swiss banks face the risk of further indictments for helping U.S. citizens evade taxes after Swiss lawmakers rejected a bill that would help resolve a tax dispute.
Yahoo, the largest U.S. Web portal, said it got as many as 13,000 requests for information from U.S. law enforcement agencies, becoming the latest technology company to detail government data collection.
New York City health officials are increasing public awareness about a meningitis outbreak, urging gay men to get vaccinated for the infection in advance of as many as 1 million visitors for gay pride events in June.
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Afghan President Hamid Karzai announced that his country’s armed forces are taking over the lead for security nationwide from the U.S.-led NATO coalition.
Military leaders are ready to begin tearing down the remaining walls that have prevented women from holding thousands of combat and special operations jobs near the front lines.
The leaders of major economic powers are declaring themselves dedicated to a political solution to Syria’s bloody civil war, even as President Obama and Russian President Putin stake out diametrically opposite stands on which side deserves military support.
The Taliban’s spokesman says the group will open a political office in Qatar to try to find a political solution to the war in Afghanistan.
Two suicide bombers targeted a Shiite mosque in Baghdad, one blowing himself up at a nearby checkpoint while the other slipped inside during prayers. The blasts killed 26 people.
The FBI saw enough merit in a reputed Mafia captain’s tip to once again break out the digging equipment to search for the remains of former Teamsters union leader Jimmy Hoffa, last seen alive before a lunch meeting with two mobsters nearly 40 years ago.
As the Federal Reserve’s Open Market Committee begins a two-day meeting , economist Nouriel Roubini and political scientist Ian Bremmer warned that the Fed’s monetary easing exit strategy would be “treacherous” and would lead to financial instability.
The US will open direct peace talks with the Taliban after more than 10 years of war in Afghanistan, senior White House officials announced.
The lower house of Switzerland’s parliament has refused to debate a bill that would allow Swiss banks to pass client information to the US tax authorities.
The US has 46 inmates held at its military prison in Guantanamo Bay who it says it does not have the evidence to try but are too dangerous to release. Most are from Yemen and Afghanistan.
Piracy off the coast of West Africa has now overtaken Somali piracy, a report by the International Maritime Bureau (IMB) and other seafarers’ groups said.
First Lady Michelle Obama is staying Monday evening in the $3,300-per-night Princess Grace suite of Dublin’s Five-Star Shelbourne Hotel, according to Irish press reports, adding some credence to accusations she is in the city for a quick vacation at taxpayer expense.
Bullying and aggressive behavior by a sibling can be as damaging as bullying by a classmate, neighbor or other peer, finds a new study that links it to increased depression, anxiety and anger among victimized kids and teens.
An Egyptian misdemeanors court has issued an 11 year prison sentence to Islamist preacher Ahmed Abdullah (AKA Abu Islam) on charges of insulting religion and burning the Bible. The court also sentenced Islam, Abu-Islam’s son, to eight years in prison and fined him LE 2000 for taking part in burning the Bible with his father. This sentence is also suspended pending appeal.
Google is to create a global database of child abuse images – which it will share with its rival companies – in a bid to eradicate child pornography from the web.