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Oil stays near $96 before crude stocks report, Fed

The price of oil was little changed above $96 a barrel Wednesday as investors waited confirmation of a rise in U.S. crude stocks and the Federal Reserve's latest views on the U.S. economy.

Canet seeks gritty New York in 'Blood Ties'

Director Guillaume Canet, left, and actress Marion Cotillard leave following the screening of Blood Ties at the 66th international film festival, in Cannes, southern France, Monday, May 20, 2013. (AP Photo/Lionel Cironneau) CANNES, France (AP) — The problem with New York these days is there's just not enough litter.


Iraqi PM orders army shakeup after deadly attacks

An Iraqi woman, who sells milk, passes by the scene of a car bomb attack in the Kamaliyah neighborhood, a predominantly Shiite area of eastern Baghdad, Iraq, Monday, May 20, 2013. A wave of car bombings across Baghdad's Shiite neighborhoods and in the southern city of Basra killed and wounded scores of people, police said. (AP Photo/ Hadi Mizban) BAGHDAD (AP) — An Iraqi government spokesman says Prime Minister Nouri al-Maliki has ordered changes in senior ranks of the military in the wake of bloody attacks that have killed dozens of people in the past few days.


EU bid to label Hezbollah wing terror group

BRUSSELS (AP) — Two officials say Britain has launched a bid to formally have the European Union declare the Lebanese party Hezbollah's military wing a terrorist organization.

Iran denies link to group arrested for spying in Saudi Arabia

DUBAI (Reuters) - Iran denied on Wednesday any link to members of a spying ring detained by its Sunni Muslim regional rival Saudi Arabia, according to Iranian media. Saudi state media reported on Tuesday that officials had detained 10 people accused of spying for Iran after arresting 18 people in the same case in March. Saudi Arabia, the world's top oil exporter, accuses the Islamic Republic of stirring up unrest among minority Saudi Shi'ites. Tehran rejects that charge and has repeatedly denied any involvement in espionage in Saudi Arabia. ...

7 Egyptian security men kidnapped in Sinai freed

This image made from video broadcast on Egyptian State Television shows members of the Egyptian security forces after their release by kidnappers, in Cairo, Egypt, Wednesday, May 22, 2013. Six Egyptian policemen and a border guard kidnapped by suspected militants in the volatile Sinai Peninsula last week were freed by their captors Wednesday after successful mediation, the country's military spokesman said. (AP Photo/Egyptian State Television) EGYPT OUT CAIRO (AP) — Six Egyptian policemen and a border guard kidnapped by suspected militants in the volatile Sinai Peninsula last week were freed by their captors Wednesday after successful mediation, the country's military spokesman said.


Lowe's results miss estimates, underperforming Home Depot

A designated parking spot for Lowes.com shoppers is pictured in the parking lot at the Lowe's Home Improvement Warehouse in Burbank By Dhanya Skariachan (Reuters) - Lowe's Cos Inc reported a weaker-than-expected quarterly profit on Wednesday, hurt by colder-than-usual weather at the start of the spring selling season and strong competition from larger rival Home Depot Inc . The results contrasted sharply with those of Home Depot and signaled that Lowe's, the world's No. 2 home improvement chain, was still struggling to narrow the performance gap with the industry leader. Lowe's sales fell 0.5 percent to $13.09 billion in the first quarter ended on May 3, missing the analysts' average estimate of $13.45 billion. ...


Syrian opposition urges rebels to join key battle

This Tuesday, May 21, 2013 citizen journalism image provided by Edlib News Network, ENN, which has been authenticated based on its contents and other AP reporting, shows a Syrian rebel firing locally made shells made from gas cylinders against the Syrian forces, in Idlib province, northern Syria. Syria's main opposition group is urging rebels to come from around the country to reinforce Qusair, a western town under attack by Syrian troops and members of Lebanon's Hezbollah group. (AP Photo/Edlib News Network ENN) BEIRUT (AP) — Syria's main opposition alliance on Wednesday urged fighters to come from around the country to reinforce a rebel-held town under attack by President Bashar Assad's troops and their allies from the Lebanese militant Hezbollah group.


Iran's Ahmadinejad denounces election decision

In this Saturday, May 11, 2013 photo, Esfandiar Rahim Mashaei, a close ally of Iranian President Mahmoud Ahmadinejad, speaks with journalists, during a press conference after registering his candidacy for the upcoming presidential election, at the election headquarters of the interior ministry, in Tehran, Iran. A hardline news website says Iran's election overseers have rejected a pair of powerful and divisive figures from running in next month's presidential election. Tasnimnews.com says Akbar Hashemi Rafsanjani, a former president who still wields enormous influence, and Esfandiar Rahim Mashaei, a close confident of President Mahmoud Ahmadinejad, have been barred by the Guardian Council. (AP Photo/Ebrahim Noroozi) TEHRAN, Iran (AP) — Iranian President Mahmoud Ahmadinejad said Wednesday that a decision by election overseers to disqualify his top aide from next month's presidential race is an act of "oppression" and that he will take the case to the country's Supreme Leader Ayatollah Ali Khamenei.


Futures tick higher ahead of Bernanke testimony

Traders work on the floor at the New York Stock Exchange NEW YORK (Reuters) - Stock futures edged up in thin trading Wednesday, ahead of highly anticipated Congressional testimony by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy. Bernanke is expected to strike a dovish tone when he addresses a congressional committee at 10:00 a.m. EDT. Earlier on Wednesday, influential New York Fed President William Dudley reinforced his own remarks Tuesday, when he damped speculation that the U.S. central bank was preparing to reduce its monetary stimulus. The Fed's ultra loose monetary policy is one of the main forces behind a rally in ...


Trial for captain in deadly shipwreck in Italy

ROME (AP) — A judge in Italy has ordered the captain of the Costa Concordia to stand trial in the shipwreck of the cruise liner, which struck a reef off Tuscany last year, killing 32 people.

Target's 1Q profit drops 26 pct on weak sales

NEW YORK (AP) — Target Corp. is reporting a 26 percent drop in first-quarter profits as cool temperatures and financial pressures limited customers' appetite for spending.

Target first-quarter profit down on weather-related sales weakness

A woman pulls shopping carts through the aisle of a Target store on the shopping day dubbed "Black Friday" in Torrington (Reuters) - Target Corp posted a 0.6 percent decline in first-quarter sales at U.S. stores open at least a year on Wednesday after warning investors one month ago that its results would be disappointing as a chilly start to spring kept shoppers from buying seasonal items such as clothing. Target earned $498 million, or 77 cents per share, in the first quarter ended on May 4, compared with a profit of $697 million, or $1.04 per share, a year earlier. (Reporting by Jessica Wohl in Chicago; Editing by Jeffrey Benkoe)


Ukraine PM bars reporters from government meetings after protest

Journalists show off signs, pinned to their backs, as they stage a silent protest during a cabinet meeting in Kiev KIEV (Reuters) - Ukrainian Prime Minister Mykola Azarov ordered a dozen local reporters to be barred from covering government meetings after they staged a silent protest on Wednesday over physical attacks on journalists at a rally. "What kind of show is this?" Azarov said when reporters who were attending a cabinet meeting stepped in front of television cameras, turning their backs on Azarov and his colleagues. Signs pinned to their backs read: "Today it's a female journalist (beaten up), tomorrow - your wife, sister, daughter. ...


Futures rise; all eyes on the Fed

FILE - In this Tuesday, Feb. 21, 2012 file photo, traders work on the floor at the New York Stock Exchange in New York. Stock indexes are edging higher in early trading on Wall Street Tuesday, May 21, 2013, as investors look ahead to the Federal Reserve's next moves. (AP Photo/Seth Wenig, File) NEW YORK (AP) — U.S. stock futures are rising with the nation's central bank seemingly committed to ushering along a financial rebound and the housing market nearing an important milestone.


Ireland feels the heat from Apple tax row

Apple Operations International, a subsidiary of Apple Inc, is seen in Hollyhill, Cork, in the south of Ireland By Carmel Crimmins and Conor Humphries DUBLIN (Reuters) - Ireland called on Wednesday for an international clampdown on multinationals shifting profits around the world to avoid tax, after criticism that Irish loopholes helped technology giant Apple to shrink its tax bill. A U.S. Senate investigation into the tax affairs of the maker of iPhones, iPads and Mac computers has shone an uncomfortable spotlight on Ireland's tax regime and forced the government to defend itself against accusations of being Europe's onshore tax haven. ...


Syria opposition calls for reinforcements in embattled Qusair

BEIRUT (Reuters) - Syria's leading opposition group called on Wednesday for rebels across the country to send reinforcements to the strategic border town Qusair, where heavy fighting has drawn in fighters from Lebanon's powerful Hezbollah movement. Rebels fighting to topple President Bashar al-Assad said air strikes and shelling rocked the small town on the Syrian-Lebanese border that has become a fierce battleground that could determine control of critical supply lines. ...

Turkey shuts Syria border crossing after deadly bombings

By Jonathon Burch ANKARA (Reuters) - Turkey has shut its side of the last border crossing with Syria still controlled by President Bashar al-Assad's government, stepping up security following two deadly bombings this month. Fifty-one people were killed when twin car bombs ripped through the Turkish border town of Reyhanli in the southern province of Hatay on May 11, heightening fears that Syria's civil war was dragging in neighboring states. Turkey has accused Syria of involvement in the attacks. Damascus has denied any role. ...

Japan approves joining int'l child abduction pact

In this May 5, 2010 file photo, fathers that lost their children to spousal abduction to Japan hold photos of their children during a news conference on Capitol Hill in Washington. Japan’s parliament has approved joining an international child custody treaty amid foreign concerns that Japanese mothers can take children away from foreign fathers without recourse. The upper house of parliament on Wednesday, May 22, 2013, voted to join the 1980 Hague Convention on international child abduction following passage by the more powerful lower house last month.(AP Photo/Evan Vucci, File) TOKYO (AP) — Japan's parliament on Wednesday approved joining an international child custody treaty amid foreign pressure for Tokyo to address concerns that Japanese mothers can take children away from foreign fathers without recourse.


UK coalition to last despite rifts, infighting: deputy PM

Britain's Deputy Prime Minister, and Leader of the Liberal Democrats, Nick Clegg, answers question during a question and answer session at the party's spring conference in Brighton By Andrew Osborn LONDON (Reuters) - Britain's deputy prime minister on Wednesday took the unusual step of holding a news conference to say the country's two-party coalition would hold together until 2015 as he tried to stabilize a government beset by infighting and rifts. In a move that risks being cast as a sign of weakness by political opponents, Nick Clegg, the leader of the Liberal Democrats, the junior partner in the coalition, sought to reassure voters that his alliance with Prime Minister David Cameron would endure until the next national election. ...


Ryan Gosling breaks Cannes' heart, misses premiere

Cannes festival director Thierry Fremaux, right, reads a letter from actor Ryan Gosling explaining why he could not attend the festival, as director Nicolas Winding Refn, centre, and actress Kristen Scott Thomas listen during a press conference for the film Only God Forgives at the 66th international film festival, in Cannes, southern France, Wednesday, May 22, 2013. (AP Photo/Virginia Mayo) CANNES, France (AP) — The Cannes Film Festival is missing one of its biggest stars of this year's festival: Ryan Gosling.


UK wine retailer First Quench in $242 million pension risk deal

By Sarah Mortimer LONDON (Reuters) - British alcoholic drinks retailer First Quench is insuring a chunk of its pension liabilities with specialist provider Pension Insurance Corporation, improving retirement benefits for its 1,966 members. A growing number of "final salary" pension schemes are running into trouble because of rising longevity and low UK government bond yields. Insurers and reinsurers are capitalizing on increased demand from pension funds for ways to manage their liabilities by underwriting individual pension funds and charging a fee. ...

Mortar lands in Congo as UN chief arrives

GOMA, Congo (AP) — A spokesman for the United Nations peacekeeping mission in Congo says that a mortar landed in a neighborhood of Goma, a major city in eastern Congo, which last year was briefly overrun by a rebel group. The explosion comes as U.N. Secretary-General Ban Ki-moon arrived in Congo's distant capital for a two-day visit that is expected to take him to Goma.

Rescuers comb Oklahoma tornado rubble for buried survivors

Danielle Stephan holds boyfriend Thomas Layton as they pause between salvaging through the remains of a family member's home one day after a tornado devastated the town Moore, Oklahoma By Ian Simpson and Alice Mannette MOORE, Oklahoma (Reuters) - Rescue workers with sniffer dogs and searchlights combed through the wreckage of a massive tornado to ensure no survivors remained buried in the rubble of primary schools, homes and buildings in an Oklahoma City suburb. The massive tornado on Monday afternoon flattened blocks of the town, killed at least 24 people and injured about 240 in Moore, just outside Oklahoma City. ...


North Korean leader sends special envoy to China

In this photo provided by China's official Xinhua News Agency, Wang Jiarui, right, the head of the Chinese leadership's international affairs office, meets with North Korea's Vice Marshal Choe Ryong Hae, a senior Workers’ Party official and the military’s top political officer, left, in Beijing, Wednesday, May 22, 2013. North Korean leader Kim Jong Un veered from threats of nuclear war to tentative diplomacy by sending a trusted confidant to China on Wednesday, a high-profile outreach to Beijing’s new leadership at a time of strained ties between the allies. (AP Photo/Xinhua, Ding Lin) NO SALES PYONGYANG, North Korea (AP) — After months of ignoring China's warnings to give up its nuclear program, North Korean leader Kim Jong Un sent a high-level confidant to Beijing on Wednesday, in a possible effort to mend strained ties with its most important ally and the latest sign that Pyongyang may be giving diplomacy a chance.


Mugabe signs Zimbabwe constitution into law

Zimbabwe President Robert Mugabe signs Zimbabwe's new constitution into law in the capital Harare HARARE (Reuters) - Zimbabwe President Robert Mugabe signed a new constitution into law on Wednesday, replacing a 33-year-old document forged in the dying days of British colonial rule and paving the way for elections later this year. The constitution, approved overwhelmingly in a referendum in March, clips the powers of the president and imposes a two-term limit. However, it does not apply retroactively so the 89-year-old Mugabe could extend his 33 years in power by another decade. ...


Vatican releases 1st report of financial watchdog

VATICAN CITY (AP) — The Vatican has taken another step in trying to show greater financial transparency by publishing a first annual report from its new financial watchdog agency.

Too soon to dial back Fed stimulus: Dudley

William Dudley speaks during the Asia Society and Economic Club of New York luncheon, in New York (Reuters) - It is too soon to determine whether to dial down the Federal Reserve's massive bond-buying program, and the economic picture may not be clear enough to make that decision for another three or four months, an influential U.S. central bank official said. New York Fed President William Dudley, a close ally of Chairman Ben Bernanke, said on Bloomberg TV that it was possible to taper down the $85 billion in monthly asset purchases by the fall "if the economy does better and if the labor market continues to improve" in the face of tighter fiscal policies. ...


Mais non! French universities may teach in English

PARIS (AP) — France's National Assembly is taking up an education reform bill that would allow public universities to hold some courses — like science or economics classes — in English, a plan that has alarmed language purists and the political far-right alike.

Gosling misses Cannes premiere, sends his regrets

Cannes festival director Thierry Fremaux, right, reads a letter from actor Ryan Gosling explaining why he could not attend the festival, as director Nicolas Winding Refn, centre, and actress Kristen Scott Thomas listen during a press conference for the film Only God Forgives at the 66th international film festival, in Cannes, southern France, Wednesday, May 22, 2013. (AP Photo/Virginia Mayo) CANNES, France (AP) — The Cannes Film Festival is missing one of its biggest stars of this year's festival: Ryan Gosling.


Iran, Hezbollah increasing support for Assad: Britain

British Foreign Secretary Hague speaks as Jordanian Foreign Minister Judeh listens during their joint news conference in Amman AMMAN (Reuters) - British Foreign Secretary William Hague said on Wednesday Iran and its militant Shi'ite Lebanese ally Hezbollah were "propping up" Syrian President Bashar al-Assad and giving him increasing support. "It is very clear that Syrian regime is receiving a great deal of support, increasing support in recent months from outside Syria from Hezbollah and Iran. This is a regime that is increasingly dependent on external support," Hague said in a news conference with his Jordanian counterpart Nasser Judeh. ...


Investors edgy ahead of Bernanke testimony

A visitor takes a picture of an electronic stock board on the Tokyo Stock Exchange in Tokyo, Wednesday, May 22, 2013. Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. (AP Photo/Itsuo Inouye) LONDON (AP) — Investors were edgy Wednesday ahead of the appearance of U.S. Federal Reserve chairman Ben Bernanke before lawmakers in Congress.


Investors edgy ahead of Bernanke testimony

A visitor takes a picture of an electronic stock board on the Tokyo Stock Exchange in Tokyo, Wednesday, May 22, 2013. Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. (AP Photo/Itsuo Inouye) LONDON (AP) — Investors were edgy Wednesday ahead of the appearance of U.S. Federal Reserve chairman Ben Bernanke before lawmakers in Congress.


Lowe's 1Q profit rises, but results miss Street

FILE - In this Monday, Sept. 10, 2012 file photo, dryers are seen from the inside of another clothes' dryer, foreground, at a Lowe's store location, in Framingham, Mass. Lowe's Cos. Inc. reports quarterly financial results before the market opens on Wednesday, May 22, 2013. (AP Photo/Steven Senne, File) MOORESVILLE, N.C. (AP) — Lowe's first-quarter net income rose almost 3 percent, even as a wet and cool spring dampened sales of gardening products.


Artillery lands in east Congo city, humanitarian camp

GOMA, Democratic Republic of Congo (Reuters) - Artillery rounds landed in a heavily populated neighborhood of Congo's eastern city of Goma on Wednesday, killing a child and injuring other civilians a day before a planned visit by U.N. Secretary-General Ban Ki-moon, a human rights group said. From early morning, government troops and M23 rebels exchanged heavy weapons fire for a third straight day outside the city, the largest in Democratic Republic of Congo's turbulent and mineral-rich east. "A shell landed in Goma's Ndosho neighborhood around 9 a.m. ...

Toll Brothers profit rises 46 percent

A vacant lot owned by Toll Brothers is shown for sale in a housing development in Broomfield (Reuters) - Toll Brothers Inc posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices, indicating that the housing recovery is spreading across the industry. Record-low interest rates and rising rents have encouraged people to buy homes. Ground-breaking to build new homes in the United States rose 7 percent in March to the highest level since June 2008. Toll said its quarterly orders were the highest in seven years. ...


EU leaders shine spotlight on Amazon, Google over tax policy

Britain's PM Cameron arrives at a European Union leaders summit in Brussels By Luke Baker BRUSSELS (Reuters) - European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance. The four-hour summit was originally called to discuss energy policy, but investigations in Britain, France and the United States exposing how little tax major international companies have been paying by carefully structuring their European operations has forced the issue to the top of the agenda. ...


US auto factories cutting back on summer downtime

FILE - In this Dec. 1, 2010 file photo, plant employees assemble a 2011 Ford Explorer on the assembly line at Ford's Chicago Assembly Plant. Ford Motor Co. said Wednesday, May 22, 2013 that 21 of its North American factories will shut for only one week this summer. That includes the Chicago plant that makes the Ford Explorer SUV and the Mexican plant that makes the Fusion sedan. (AP Photo/M. Spencer Green, File) DETROIT (AP) — The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks.


Afghanistan's Karzai gives India military equipment 'wish list'

Afghan President Hamid Karzai speaks during a news conference in Kabul By Ross Colvin NEW DELHI (Reuters) - Afghan President Hamid Karzai said on Wednesday he had given a "wish list" of military equipment to India during a visit this week, presenting a conundrum for New Delhi as it weighs whether arming the Afghan army is in its interests. India wants to stabilize Afghanistan and is concerned about the resurgence of militant groups after foreign combat troops leave in 2014. But arming Afghanistan would alarm Pakistan. It takes issue with the influence of its old rival in Afghanistan. ...


EU leaders discuss fight against tax evasion

European Council President Herman Van Rompuy smiles as he faces the cameras upon arrival at an EU summit in Brussels on Wednesday, May 22, 2013. Leaders from the 27 European Union countries gather in Brussels for one of their regular European Council sessions. On the agenda is the increasingly controversial subject of large corporations’ creative tax avoidance schemes. (AP Photo/Ezequiel Scagnetti) BRUSSELS (AP) — The European Union's leaders are seeking to advance their fight against tax evasion and close loopholes for large corporations' creative tax avoidance schemes.


UK regulator says satisfied with Lloyds, RBS capital plans

A man walks past a Royal Bank of Scotland branch reflected in a puddle in central London LONDON (Reuters) - Britain's financial regulator said it had finalized capital requirements for Royal Bank of Scotland and Lloyds Banking Group and was comfortable with their plans. The Prudential Regulation Authority said it would release more information when it had concluded discussions with all banks, including, where necessary, if banks need to take steps to meet any shortfalls. Lloyds and RBS each said on Wednesday they did not need to issue more equity, and would meet extra capital needs by selling assets and through retained earnings and restructuring plans that are underway. ...


Bank of Japan vows market steps to curb bond turbulence

The Bank of Japan building is pictured in Tokyo By Stanley White TOKYO (Reuters) - The Bank of Japan vowed on Wednesday to take necessary steps to reduce volatility in bond markets that has threatened to jeopardize the government's fight to end deflation and revive growth. The central bank upgraded its assessment of the economy for a fifth straight month, saying it "has started picking up," as Prime Minister Shinzo Abe's policy prescription of aggressive fiscal and monetary stimulus has boosted sentiment and a weaker yen has halted a decline in exports. ...


Sony mulls hedge fund's entertainment sale idea

Sony President and CEO Kazuo Hirai speaks during a press conference at the Sony Corp. headquarters in Tokyo, Wednesday, May 22, 2013. Hirai said the company's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division. (AP Photo/Itsuo Inouye) TOKYO (AP) — Sony's CEO Kazuo Hirai says the electronics giant's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division.


Weak yen a help for Japan, but headache elsewhere

In this Dec. 20, 2012 photo, trucks for export park at a port in Yokohama, west of Tokyo. A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan’s main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world’s third-largest economy. (AP Photo/Koji Sasahara) TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.


Apple case seen as possible spur to tax action

Apple CEO Tim Cook testifies on Capitol Hill in Washington, Tuesday, May 21, 2013, before the Senate Homeland Security and Governmental Affairs Permanent subcommittee on Investigations as lawmakers examine the methods employed by multinational corporations to shift profits offshore and how such activities are affected by the Internal Revenue Code. Lawmakers want to know the tax strategy of how Apple, the world's most valuable company, based in Cupertino, Calif., holds a billion dollars in an Irish subsidiary as a tax strategy, according to a report issued this week by the subcommittee. (AP Photo/J. Scott Applewhite) WASHINGTON (AP) — Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.


Bernanke testimony to be studied for policy clues

FILE - In this May 10, 2013 file photo, Federal Reserve Chairman Ben Bernanke waves goodbye after speaking during a banking conference in Chicago. When Bernanke testifies about the U.S. economy Wednesday, May 22, 2013, the Federal Reserve chairman’s words will be examined for any clues that the Fed might soon taper _ or increase _ its support for the economy. (AP Photo/Paul Beaty, File) WASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy.


Who's to blame for murky regulation in IRS scandal: Agency or lawmakers?

The IRS should move unilaterally to fix the law sitting at the root of the agency’s targeting of conservative groups, according to Senate Democrats who grilled the agency’s two most recent chiefs at a Senate Finance Committee hearing on Tuesday.

Tornado Warning: Despite Oklahoma Alert, U.S. Weather Forecasting Service Needs Major Upgrades

The atmosphere never gets a moment’s privacy. It can barely stir enough to move a leaf without some piece of high-tech equipment—often many, many pieces—knowing about it. The U.S. alone has up to 30 satellites at any one moment that devote at least part of their time to monitoring global and national weather patterns; 122 Doppler radar systems scattered across the country looking up from the ground; and a web of computers that just got a massive upgrade—increasing their data-crunching capacity 30-fold—to process the information that all that other hardware gathers.

Oklahoma tornado was a monster, but it wasn't a record-breaker

The National Weather Service has rated the tornado that struck Moore, Okla., Monday afternoon as an EF5, the highest rating with wind speeds estimated at more than 200 miles an hour.

MLS deal with billionaire oil sheikh could be bigger than Beckham

Two of the most deep-pocketed teams in world sport – Manchester City of the English Premier League and the New York Yankees of Major League Baseball – have agreed to pay $100 million to own and operate a new professional soccer team in New York City starting in 2015.
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