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Today's News

Obama Announces Peace Prize Charity Donations

3 minutes ago

President Barack Obama announced Thursday that he plans to spread the money that accompanies his Nobel Peace Prize among 10 different charities. Obama, who was awarded the prize based on the hope that his presidency would bring about a change in American foreign policy, had decided soon after being notified of the award that he would donate the $1.4 million award to charity. The largest single sum from the award will be a $250,000 donation to Fisher House, a national non-profit that provides housing for families of those receiving medical care at major military and Veterans Affairs medical centers. Obama will also give almost as much, $200,000 to the Clinton-Bush Haiti Fund, an organization dedicated to the long term relief and rebuilding of Haiti that Obama asked former Presidents Bill Clinton and George W. Bush to found following the massive earthquake that devastated the country.

Yen Plunges Further Against Majors

4 minutes ago

The Japanese yen plunged further against major currencies in early Asian trading on Friday. At 6:15 am ET, the yen dropped to new multi-week low of 84.97 against the Swiss franc, 124.17 versus the euro and a new multi-day low of 136.87 against the British pound, compared to yesterday's closing values of 84.75, 123.83 and 136.36, respectively. Against its US counterpart, the yen also edged down in early Asian deals and slipped to 90.76 by about 6:15 pm ET. The pair that closed Thursday's New York session at 90.52, is now trading near 90.68.

AP Top Financial News At 6:37 p.m. EST

7 minutes ago

Slowly, Americans are regaining their lost wealth Citigroup CEO says bank on path to profitability Gov't may seek more authority on vehicle safety Stocks climb for 3rd day as financial shares rise Export growth likely to remain bright spot for US

AP Top Extended Financial Headlines At 6:37 p.m. EST

7 minutes ago

Americans' net worth grows at end of last year but still well below pre-recession peak Citigroup CEO says bank on path to 'sustained profitability' after asset sales, strategy shift Government may seek more authority to regulate vehicle safety following Toyota recalls Stocks rise after Citigroup forecast lifts bank shares; S&P 500 index tops January high Exports forecast to remain strong in 2010 even as rebounding economy pushes imports higher

Dodd to offer his own financial regulation bill

7 minutes ago

WASHINGTON AP) _ Unable to muster bipartisan agreement on key banking provisions, Senate Banking Committee Chairman Christopher Dodd said Thursday he will offer his own version of a sweeping overhaul of financial regulations without Republican support. "Clearly, we need to move along," he said. A month of talks between Dodd and Republican Sen. Bob Corker had found common ground, but details on key provisions, including consumer protections and other sticking points, remained unsettled. "As time moves on, you just limit the possibilities of getting something done, particularly a bill of this magnitude and this complexity," Dodd said. He said he hoped the Senate could act on a bill sometime in the spring. Dodd's go-it-alone choice comes in the midst of an emerging culture of high partisanshi

Honolulu Advertiser employees get layoff notices

7 minutes ago

Layoff notices have gone out to 600 employees of The Honolulu Advertiser. The notices say the workers will lose their jobs when owner Gannett Co. sells the newspaper and related assets to Oahu Publications Inc., owner of the Honolulu Star-Bulletin. The sale is expected to be completed between April 12 and April 30. The majority owner of the Star-Bulletin, David Black, has put his newspaper up for sale. However, he has said if a buyer isn't found, the two newspapers will merge and layoffs will occur. It isn't known how many Advertiser employees would be rehired under a merged operation.

ACLU sues over violence at private prison in Idaho

7 minutes ago

The American Civil Liberties Union sued state prison officials and a private company Thursday, claiming violence is so rampant at the Idaho Correctional Center that it's known as "gladiator school" among inmates. The ACLU filed the lawsuit against Nashville, Tenn.-based Corrections Corporation of America in U.S. District Court in Boise. The lawsuit says Idaho's only private prison is extraordinarily violent, with guards deliberately exposing inmates to brutal beatings from other prisoners as a management tool. The group contends the prison then denies injured inmates medical care to save money and hide the extent of injuries. Steve Owen, Corrections Corporation of America's director of public affairs, said the company would respond to the lawsuit through court filings. He said state officials have unfettered access to the prison and provide strong oversight at the facility, including daily on-site monitoring.

Stage is set for better West Coast salmon season

8 minutes ago

California's chinook salmon fishery is likely to be opened this year after two straight closed fishing seasons _ but with restrictions, according to recommendations released Thursday by a federal panel. Fishermen in Oregon and Washington are poised to have an even better season because fish are more abundant there. The Pacific Fishery Management Council approved three options that outline where West Coast fishermen might be allowed to cast their lines and nets beginning this spring. There remains a chance that California's salmon fishery could be closed altogether when the council issues its final decision during a meeting in Oregon next month. However, Council chairman David Ortmann called that possibility unlikely. "Compared to the last two years, there's going to be more fishermen back on the water," Ortmann said after the vote.

Mixed Lead For South Korean Stocks

9 minutes ago

The South Korean stock market on Thursday saw an end to the four-day winning streak in which it had gathered more than 40 points or 2.5 percent en route to a fresh six-week closing high. The KOSPI slid below the 1,660-point plateau, and now analysts are expecting little movement at the opening of trade on Friday. The global forecast for the Asian markets is mixed, with support expected from a rebound in gold prices and financial stocks - although weakness among the steel shares may pare the overall gains. The European markets finished under water, while the U.S. bourses ended modestly higher - and now the Asian markets are expected to be little changed. The KOSPI finished slightly lower on Thursday, as selling among the technology and medical stocks were largely offset by gains among the financials.

VeriSign to spend more than $300M on tech upgrades

9 minutes ago

VeriSign Inc., whose technology is key to allowing Internet users to access Web sites with names ending in ".com" and ".net," plans to spend more than $300 million over the next decade to upgrade its systems. The upgrades will allow VeriSign's machines to handle up to 4 quadrillion requests per day from computers trying to reach those sites. That's a thousand times more lookups than the 4 trillion per day that the company can currently handle. Ken Silva, the company's chief technology officer, said Thursday that the latest changes are needed to keep up with ballooning Internet traffic and with spikes in usage caused by major news events and computer attacks. Traffic volume is expected to soar along with the expansion of technologies such as Internet-connected televisions, navigation systems and video streaming.