NEW YORK - Wells Fargo and Morgan Stanley said Thursday they'll try to raise billions in fresh capital, becoming the first major banks to scramble for money after the government said 10 large financial institutions need $75 billion in new funds. Meanwhile, American Express Co. became the first major financial institution to formally request permission to return federal bailout money provided under the Troubled Asset Relief Program, or TARP. Wells Fargo & Co. said it's seeking to raise $6 billion by offering common stock to investors. The San Francisco-based bank announced the plans after the government's stress test results showed that Wells...
MoreMajor League Baseball announced Thursday that Los Angeles Dodgers outfielder Manny Ramirez has been suspended for 50 games for violating its drug policy. The commissioner's office didn't announce the specific violation by Ramirez, but in a statement Thursday provided by Major League Baseball, Ramirez attributed the violation to medication he had been prescribed by a doctor. "Recently I saw a physician for a personal health issue. He gave me a medication, not a steroid, which he thought was OK to give me," Ramirez said. "Unfortunately, the medication was banned under our drug policy. Under the policy that mistake is now my responsibility....
MoreThe Taliban raised fears in Pakistan last week by briefly seizing new territories near the capital, Islamabad. But in its own way, the Obama administration offered as much reason for panic about the deteriorating situation in that nuclear-armed Muslim country. In the course of just three days, the U.S. secretaries of State and Defense, the chairman of the Joint Chiefs, and the commanding general of American forces in the Middle East all publicly warned, in blunt and dire language, that Pakistan was facing an existential threat -- and that its government and Army were not facing it. "I think that...
MoreFidel says Obama "misinterpreted" conciliatory remarks by Raul on U.S.-Cuba relations. HAVANA - Fidel Castro wrote in an essay published yesterday that President Obama had "misinterpreted" his brother Raul's seeming conciliatory remarks regarding the United States, and he bristled at the suggestion that Cuba should free political prisoners or cut taxes on dollars that Cuban Americans send to the island. His comments put into doubt the true meaning of his brother's statements and raised questions about Cuba's position on detente with the United States. Although he surrendered the presidency to Raul in February 2008, Fidel Castro retains enormous influence and remains head of...
MoreA Boston University medical student who appeared in court Tuesday on a murder charge searched Craigslist to find his victims, prosecutors say, highlighting the potential dangers of social networking websites. Police in Boston and Warwick, R.I., say Philip Markoff, 23, may have preyed on other women he found on the website, where people can post most ads for free, says Jake Wark, a spokesman for the district attorney in Suffolk County, Mass., who brought the charges. A judge ordered Markoff jailed without bail. R.I. POLICE: Case similar to Boston Craigslist slaying He is charged with murdering one woman and robbing and kidnapping another....
More(CNN) -- North Korea said Saturday any sanctions or pressure applied against it following its rocket launch earlier this month will be considered a "declaration of war." In an announcement on state-run television, the country said it was ready to step up efforts to develop nuclear weapons and poised for a military response to any moves against it. "The revolutionary armed forces of the DPRK are always keeping themselves fully ready to go into action any moment to mercilessly punish anyone who encroaches upon the sovereignty and dignity of the DPRK even a bit," it said. On Monday the United Nations condemned...
MoreI was all set to write about the Tea Party Tax Protest that will be occurring today, and after a while, I thought, "Will it really matter?" Right now, we are spending future generations into the poorhouse, and we really don't care as long as we have the cash to keep the cable on, pay for text messages, or purchase $600 shower curtains. President Obama said something yesterday about us no longer being able to spend, spend, spend in government, but I guess that does not include the healthcare reform Obama wants, the stimulus package we "need" or else the Earth will...
MoreThe constant hunt for valuable Google AdWords keywords is akin to Search Engine Optimization - a dark magic that can become very lucrative for those that can figure out how to best their competitors. It’s also very competitive, with companies bidding on keywords as they vie to outdo their rivals. Google has policies in place to protect companies from having their trademarked names abused in ads (for example, I couldn’t create an ad for Apple that linked to TechCrunch), but it isn’t perfect. Today we’ve gotten word of an example of what can go wrong with AdWords’ filters don’t work,...
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