President Obama and congressional leaders today failed to reach a breakthrough to avert a sweeping package of automatic spending cuts, setting into motion $85 billion of across-the-board belt-tightening that neither had wanted to see.President Obama officially initiated the cuts with an order to agencies Friday evening.He had met for just over an hour at the White House Friday...
Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Mar
01
Sequestration: Surrender is in the Air
Label: Business The budget ax is about to fall, and there's little lawmakers in Washington are doing to stop it.Despite a parade of dire warnings from the White House, an $85 billion package of deep automatic spending cuts appears poised to take effect at the stroke of midnight on Friday.The cuts – known in Washington-speak as the sequester – will hit every federal budget, from defense to education,...
Feb
28
Benedict XVI Begins Final Day as Pope
Label: Business Pope Benedict XVI, the first pontiff to resign in 600 years, will step down today to lead a secluded life of prayer, far from the grueling demands of the papacy and the scandals that have recently plagued the church.Benedict, 85, will spend a quiet final day as pope bidding farewell to his colleagues that have gathered in Vatican City to see him depart. His first order of business...
Feb
27
What's Next for Pope Benedict XVI?
Label: Business The party for the world's most prominent soon-to-be retiree began today when Pope Benedict XVI hosted his final audience as pontiff in St. Peter's Square.More than 50,000 tickets were requested for the event, according to the Vatican, while the city of Rome planned for 250,000 people to flood the streets.FULL COVERAGE: Pope Benedict XVI ResignationWith his belongings packed...
Feb
26
Americans Targeted for Allegedly Running Underage Prostitution in Philippines
Label: Business Arthur Benjamin is sitting at the edge of a small stage, wearing a lavender Hawaiian shirt and nursing a bottle of San Miguel Light beer. The 6-foot-6 mustachioed Texan lazily watches the half dozen or so girls dancing rather unenergetically around the stage's pole."I forgot your gift again, it's in the car," Benjamin says to one of the girls on stage, shouting above the pop music...
Feb
25
Oscars 2013: 'Argo' Wins Best Picture
Label: Business "Argo" took home the top prize as best picture at the Oscars Sunday night, with first lady Michelle Obama announcing the winner from the White House."You directed a hell of a film," co-producer Grant Heslov told director and fellow producer Ben Affleck. "I couldn't be more proud of the film and more proud of our director."Affleck was snubbed in the directing category but humbly...
Feb
23
Cyberattacks Bring Attention to Security Reform
Label: Business Recent accusations of a large-scale cyber crime effort by the Chinese government left many wondering what immediate steps the president and Congress are taking to prevent these attacks from happening again.On Wednesday, the White House released the administration's Strategy on Mitigating the Theft of U.S. Trade Secrets as a follow-up to the president's executive order. The strategy...
Feb
22
Arias Challenged On Pedophilia Claim
Label: Business Accused murderer Jodi Arias was challenged today by phone records, text message records, and her own diary entries that appeared to contradict her claim that she caught her ex-boyfriend, Travis Alexander, looking at pictures of naked boys.Arias had said during her testimony that one afternoon in January 2008, she walked in on Alexander masturbating to pictures of naked boys....
Feb
21
Arias Leaves Stand After Describing Killing, Her Lies
Label: Business Jodi Arias stepped down from the witness stand today after mounting an emotional effort to save herself from death row, insisting to the Arizona jury that an explosive fight with ex-boyfriend Travis Alexander led to his death, and that her lies about killing him masked deep regret and plans to commit suicide.Arias, 32, will now face what is expected to be a withering cross-examination...
Feb
20
Former Navy SEAL on Coming Out of Shadows
Label: Business It used to be that Navy SEALs didn't just operate in the shadows. They trained in them too. Their whole story stayed shrouded in mystery. Their secret missions stayed secret to the rest of us.But when they got Osama Bin Laden, snatched back an American cargo ship taken by pirates and rescued two air workers held hostage in Somalia, then suddenly, it seemed that SEALs were headline-makers.Add...
Feb
19
Russian Meteor: Close Encounter, Preventing Impacts
Label: Business Feb 18, 2013 7:03pm MOSCOW — As if Friday’s massive meteor explosion over central Russia weren’t enough, just hours later a large asteroid buzzed dangerously close to Earth.And that evening, the California sky was lit up by a fireball, apparently entering Earth’s atmosphere.It’s a barrage from space that has people asking: Are we ready for the big one?Nearly 100...
Feb
18
Country Star Mindy McCready Shot Herself, Cops Say
Label: Business Mindy McCready, the country singer who soared to the top of the charts with her debut album, "Ten Thousand Angels," but struggled with substance abuse, served time in jail and fought a lengthy battle with her mother over custody of her son has died of what appears to be a self-inflicted gunshot wound, police said. She was 37.Deputies from the Cleburne County Sheriff's Office were...
Feb
17
Meteor Blast Creates Rush to Cash In
Label: Business The shattered glass and broken walls caused by the massive explosion of a monstrous meteor over this remote, industrial Russian city is not even cleaned up, and people are already trying to cash in.Some residents want to turn this city known mostly for its tank factory into a tourist destination, while others from all around the world are determined to find fragments of the meteorite.Meteor...
Feb
16
Carnival Cruise Ship Hit With First Lawsuit
Label: Business The first lawsuit against Carnival Cruise Lines has been filed and it is expected to be the beginning of a wave of lawsuits against the ship's owners.Cassie Terry, 25, of Brazoria County, Texas, filed a lawsuit today in Miami federal court, calling the disabled Triumph cruise ship "a floating hell.""Plaintiff was forced to endure unbearable and horrendous odors on the filthy and...
Feb
15
Nightmare Ends: Passengers Leave Disabled Ship
Label: Business After five days without power in the Gulf of Mexico, the more than 4, 000 people aboard the Carnival Triumph returned home to the U.S., with many of them telling their horror stories for the first time.Passengers began to disembark the damaged ship around 10:15 p.m. CT Thursday in Mobile, Ala. The last passenger disembarked the ship at 1 a.m. local time, according to Carnival's...
Feb
14
Dorner Not IDed, But Manhunt Considered Over
Label: Business Though they have not yet identified burned remains found at the scene of Tuesday's fiery, armed standoff, San Bernardino, Calif., officials consider the manhunt over for Christopher Dorner, the fugitive ex-cop accused of going on a killing spree."The events that occurred yesterday in the Big Bear area brought to close an extensive manhunt," San Bernardino County Sheriff John...
Feb
12
North Korea Says it Has Conducted a Nuclear Test
Label: Business North Korea says it has successfully tested a miniaturized nuclear device Tuesday, according to state media.A large tremor measured at magnitude 4.9 was detected in North Korea and governments in the region scrambled to determine whether it was a nuclear test that the North Korean regime has vowed to carry out despite international protests.Official state media said the test...
Feb
11
Possible Dorner Sighting Leads to Store Evacuation
Label: Business A Northridge, Calif., home improvement store was evacuated tonight because of a possible sighting of suspected cop-killer Christopher Dorner, just hours after police announced a $1 million reward for information leading to his arrest.As helicopters hovered overhead and a command center was established, police searched the Lowe's store and eventually told shoppers they could...
Feb
09
Northeast Shuts Down as Blizzard Batters Millions
Label: Business A blizzard of possibly historic proportions battered the Northeast Friday into Saturday, and forecasters feared as much as two feet of snow and strong winds could shut down densely populated cities such as New York and Boston, where cars were ordered off the streets.State officials declared states of emergencies throughout the region, and utilities estimated more than a half-million...
Feb
08
Door-to-Door Search for Suspected Cop Killer
Label: Business More than 100 police officers were going door-to-door and searching for new tracks in the snow in the hopes of catching suspected cop killer Christopher Dorner overnight in Big Bear Lake, Calif., before he strikes again as laid out in his chilling online manifesto.Police held a news conference late Thursday, alerting the residents near Big Bear Lake that Dorner was still on...
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