By Sandrine Rastello and Rebecca Christie -
U.S. President Barack Obama. Photographer: Joshua Roberts/Bloomberg
The U.S. financial system remains fragile and banks subjected to additional economic stress might need as much as $76 billion in capital, according to the results of International Monetary Fund stress tests.
The findings, released today as part of a broader IMF report on the U.S. financial system, suggested that while the nation’s banking system is stable, it remains vulnerable. Home prices, commercial real estate loans and economic growth have the potential to cause shocks that could expose banks to more losses. Read more »
Posted: July 30th, 2010 under Business & Economics, International News, National News.
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Friday, July 30, 2010
By Matt Cover, Staff Writer

L. Brent Bozell III, president of the Media Research Center – the parent organization of CNSNews.com
(CNSNews.com) – Conservative media watchdog L. Brent Bozell III has issued an open letter to
Washington Post Executive Editor Marcus Brauchli calling on the
Post to fully divulge the involvement of its employees with the controversial Journolist e-mail list.
Bozell, president of the Media Research Center – the parent organization of CNSNews.com – pointed out that several
Post employees were members of the liberal email list. This association, he said, put the paper’s credibility and impartiality in doubt.
Read more »
Posted: July 30th, 2010 under Business & Economics, Culture, Liberty, National News.
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Friday, July 30, 2010
By Fred Lucas, Staff Writer
(CNSNews.com) – The Obama administration is phasing out a program that allows underprivileged children to get scholarships to expensive private schools in Washington, D.C., such as Sidwell Friends, the school the Obama girls attend, where tuition runs about $31,000 a year.
Nevertheless, Obama on Thursday spoke about his “obligation to lift up every child” to help them achieve a quality education.
Read more »
Posted: July 30th, 2010 under Culture, Education, National News, Politics.
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NEW YORK (AdAge.com) — Unilever’s Omo detergent is adding an unusual ingredient to its two-pound detergent box in Brazil: a GPS device that allows its promotions agency Bullet to track shoppers and follow them to their front doors. Read more »
Posted: July 30th, 2010 under Business & Economics, Culture, International News, Liberty, Science & Technology.
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The Washington Times
by Stephen Dinan
With Congress gridlocked on an immigration bill, the Obama administration is considering using a back door to stop deporting many illegal immigrants – what a draft government memo said could be “a non-legislative version of amnesty.”
The memo, addressed to U.S. Citizenship and Immigration Services Director Alejandro Mayorkas and written by four agency staffers, lists tools it says the administration has to “reduce the threat of removal” for many illegal immigrants who have run afoul of immigration authorities.
“In the absence of comprehensive immigration reform, USCIS can extend benefits and/or protections to many individuals and groups by issuing new guidance and regulations, exercising discretion with regard to parole-in-place, deferred action and the issuance of Notices to Appear,” the staffers wrote in the memo, which was obtained by Sen. Charles E. Grassley, Iowa Republican. Read more »
Posted: July 30th, 2010 under Liberty, National News, Politics.
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By Justin Blum and David Voreacos
July 29 (Bloomberg) — Oracle Corp., the world’s second- biggest software maker, was sued today by the U.S. Justice Department, which claimed the company overcharged the government on a contract worth hundreds of millions of dollars.
Oracle defrauded the government on a software contract with the General Services Administration between 1998 and 2006, according to the complaint. The company failed to give the government the same discounts it offered its most favored commercial customers, the Justice Department claims. Read more »
Posted: July 30th, 2010 under Business & Economics, National News.
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July 30 (Bloomberg) — Volvo Cars’ success after its sale to
Zhejiang Geely Holding Co. will hinge on building a manufacturing plant in China, the Swedish carmaker’s chief executive officer
Stephen Odell said.
“When you look at the car industry in China, if you want to be even a 2 percent player there — and 2 percent is not a bad aspiration — you have to have local manufacturing,” Odell, 55, said in an interview late yesterday. “We already have local manufacturing through a contract party, but it’s clear Volvo needs more capacity to grow.” Read more »
Posted: July 30th, 2010 under Business & Economics, International News.
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July 30 (Bloomberg) — Research In Motion Ltd., maker of the BlackBerry smartphone, plans to introduce a tablet computer in November to compete with Apple Inc’s iPad, according to two people familiar with the company’s plans.
The device will have roughly the same dimensions as the iPad, which has a 9.7-inch diagonal screen, said the two people who wouldn’t be identified because the plans haven’t been made public. The device will include Wi-Fi and Bluetooth wireless technology that will allow people to use their BlackBerry smartphones to connect to the Internet, the two people said. Read more »
Posted: July 30th, 2010 under Business & Economics, Science & Technology.
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By Mark Thomas | IRN/USA News
Russian President Dmitry Medvedev has widened the power of the Federal Security Service, giving it Soviet-era KGB powers. Rights groups are criticizing the new law saying it could be used to stifle protests and intimidate the Kremlin’s political opponents.
Under the new law the FSB, the main successor to the KGB, can now issue warnings or detain people suspected of preparing to commit crimes against Russia’s security. The Kremlin says law the law is part of an effort to combat extremism and thwart terrorist attacks, however critics argue that the measures could be used to infringe the rights of opposition. Read more »
Posted: July 29th, 2010 under International News.
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Reporting by Ben Blanchard; Editing by Sanjeev Miglani | Reuters
BEIJING (Reuters) – Chinese naval forces have carried out a series of drills in the South China Sea, the Defense Ministry said on Thursday, strategic waters which are disputed by a number of Southeast Asia countries. Read more »
Posted: July 29th, 2010 under International News.
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By Jim Meyers | Newsmax
Sheriff Joe Arpaio, the controversial top cop in Maricopa County, Ariz., tells Newsmax he will jail any protesters who attempt to block his jail on Thursday when provisions of his state’s tough new immigration law take effect. Read more »
Posted: July 29th, 2010 under National News.
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By Edwin Mora | CNSNews.com
Some Mexican drug-trafficking organizations (DTOs) are involved in smuggling potential terrorists across the southwestern border, according to the Government Accountability Office.
“Aliens from countries of special interest to the United States such as Afghanistan, Iran, Iraq, and Pakistan (known as special-interest aliens) also illegally enter the United States through the [southwest border] region,” Richard Stana, the GAO homeland security and justice issues director, said in a report on alien smuggling issued July 22. Read more »
Posted: July 29th, 2010 under International News, National News.
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By Avery Johnson, Jonathan D. Rockoff and Anna Wilde Matthews | The Wall St. Journal
Insured Americans are using fewer medical services, raising questions about whether patients are consuming less health care as they pick up a greater share of the costs.
The drop in usage is showing up as health-care companies report financial results. Insurers, lab-testing companies, hospitals and doctor-billing concerns say that patient visits, drug prescriptions and procedures were down in the second quarter from year-ago levels. Read more »
Posted: July 29th, 2010 under Business & Economics, Health & Life, National News.
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By Dunstan Prial | FOXBusiness
So much for transparency.
Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.
Read more »
Posted: July 29th, 2010 under Business & Economics, National News.
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By Susan Crabtree and Molly K. Hooper | The Hill
House ethics committee chairwoman Zoe Lofgren (D-Calif.) on Tuesday disputed media reports stating she met privately with Rep. Charles Rangel to negotiate a deal with the embattled New York Democrat.
Republicans are privately threatening to derail any deal after several media accounts reported that Lofgren met with Rangel and his attorney Monday night without any GOP members of the ethics committee present. Read more »
Posted: July 29th, 2010 under Politics.
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Stormy day for Northeast
By Kevin Roth, Lead Meteorologist | The Weather Channel
Jul. 29, 2010 5:46 am ET
Northeast |
Showers and thunderstorms stick around into the afternoon from southeastern New England to western Virginia. In central and eastern Virginia and along the Del-Mar-Va Peninsula the stormy conditions should hold off until the early afternoon Read more »
Posted: July 29th, 2010 under Weather.
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Ken Blackwell
It can’t be news that the Gray Lady—the unofficial title of the New York Times—is militantly pro-abortion. It might even be called a house organ of the abortion lobby.
But a recent lengthy story in the Times (“The New Abortion Providers,” July 12, 2010) is a goldmine of information for pro-lifers about this execrable traffic.
Did you know that Warren Buffett has given $3 billion—yes, three billion dollars—to promote abortion here in the U.S. and around the world? Read more »
Posted: July 29th, 2010 under Commentaries, Culture, Health & Life.
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Debra J. Saunders
The Senate Democrats’ “DISCLOSE” Act — “DISCLOSE” stands for “Democracy Is Strengthened by Casting Light on Spending in Elections” — represents perhaps the baldest, if failed, power grab attempted this year. But you wouldn’t guess it reading news stories on the bill. Read more »
Posted: July 29th, 2010 under Commentaries, Culture, Liberty, Politics.
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Thursday, July 29, 2010
By Fred Lucas, Staff Writer
Washington (CNSNews.com) – More than 30 pro-life organizations are calling on senators to investigate Supreme Court nominee Elena Kagan’s record with regards to partial-birth abortion while serving as a Clinton administration attorney.
Read more »
Posted: July 29th, 2010 under Culture, Health & Life, Liberty, National News, Politics, Religion.
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Wednesday, July 28, 2010
By Pete Winn, Senior Writer/Editor
(CNSNews.com) – It seems like a nice gesture – an e-mail message from a loving wife, urging thousands of people to join her in wishing her husband a happy 49th birthday by signing an electronic birthday card.
But in Washington, D.C., nothing is that simple.
The wife, in this case, is First lLdy Michelle Obama, and the message is being sent by the Democratic Party to people on its list nationwide. And underlying the birthday wishes, the message is political: The electronic card to Barack Obama also is a Democratic Party fundraiser. Read more »
Posted: July 29th, 2010 under Culture, National News, Politics.
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