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Yahoo

Sports - Seahawks running back Lynch ends his holdout


(Reuters) - The Super Bowl champion Seattle Seahawks were given a welcome boost on Thursday when running back Marshawn Lynch ended a one-week holdout by reporting for camp at the team`s practice facility. Lynch, Seattle`s leading rusher for the past three seasons, arrived after the team`s morning practice and television cameras showed him wearing a hooded `Beast Mode` sweatshirt and a woollen cap. The 28-year-old, a Pro Bowl selection in 2008, 2011, 2012 and 2013, was seen in the lobby of the practice facility and the Seahawks later tweeted: `#BeastMode is in the building.` Lynch signed a four-year, $30 million contract with the Seahawks in 2012 and is scheduled to earn $5.5 million in 2014. Before Lynch can be added to Seattle`s active roster, he will need to pass a physical.


Friday, August 01, 2014  02:33

Yahoo

World - European ransoms now Al-Qaeda`s major funding: NYTimes


Al-Qaeda is increasingly funding terror operations thanks to at least $125 million in ransom paid since 2008, largely by European governments to free western hostages, the New York Times reported. While Al-Qaeda`s network was first funded by wealthy donors, `kidnapping for ransom has become today`s most significant source of terrorist financing,` said David S. Cohen, the Treasury Department`s under secretary for terrorism and financial intelligence, in a 2012 speech. `Kidnapping hostages is an easy spoil,` wrote Nasser al-Wuhayshi, the leader of Al-Qaeda in the Arabian Peninsula, `which I may describe as a profitable trade and a precious treasure.` The paper listed more than $90 million paid to Al-Qaeda in the Islamic Maghreb since 2008 -- by a Switzerland, Spain, Austria, and state-controlled French company and two payments from undetermined sources.


Wednesday, July 30, 2014  10:45

Yahoo

World - Venezuela ex-general awaits U.S. extradition bid in Aruba jail


By Andrew Cawthorne CARACAS (Reuters) - A retired Venezuelan military general wanted in the United States over drug-trafficking remained in jail on the Caribbean island of Aruba over the weekend awaiting a formal extradition request, his lawyer said. Hugo Carvajal, head of military intelligence from 2004-2008 during late president Hugo Chavez`s rule, was seized last week after flying to the semi-autonomous island that is part of the Netherlands. Venezuela`s socialist government is calling the detention of Carvajal at Washington`s behest an illegal `kidnapping` and has threatened reprisals if he is not released. The U.S. government put Carvajal on a blacklist in 2008, accusing him of protecting cocaine shipments from seizure by Venezuela anti-narcotics authorities and providing weapons and shelter to Colombia`s FARC rebels on the border.


Saturday, July 26, 2014  19:09

USATODAY

World - Not just Argentina: 11 countries near bankruptcy


Argentina is not the only country that has struggled, or even failed, to pay its debt in recent years.


Friday, August 01, 2014  00:34

Yahoo

World - Palestinians `facing a precipice,` UN Council told


Palestinians are `facing a precipice` in Gaza, the top UN refugee official there told the Security Council on Thursday in a strongly-worded appeal for action. With more than 220,000 Palestinians already sheltering in UN facilities -- four times the number from the last Gaza conflict in 2008-2009 -- Philippe Krahenbuhl said he had reached breaking point. `We have exceeded the tolerable limit that we can accommodate,` Krahenbuhl said, adding that he was `alarmed` by the latest Israeli instructions to civilians to evacuate two areas in Gaza targeted for more attacks. Krahenbuhl spoke to the council by audiolink from Gaza after Israel vowed to press on with its military campaign to destroy a network of tunnels used by Hamas militants for attacks.


Thursday, July 31, 2014  19:40

Yahoo

Business - Target appoints Pepsi executive Brian Cornell as CEO


By Siddharth Cavale (Reuters) - Target Corp appointed PepsiCo Inc executive Brian Cornell as CEO as it tries to regain customer confidence after a devastating data breach last holiday season. Cornell resigned earlier this week as head of PepsiCo`s Americas Foods business, which makes Quaker Oats and Frito Lay chips. He held the post since March 2012. Target removed Gregg Steinhafel, its CEO since 2008, in May after the data breach and a botched multi-billion dollar expansion into Canada. Chief Financial Officer John Mulligan was named interim CEO. ...


Thursday, July 31, 2014  12:20

Yahoo

Business - Target to hire Pepsi executive Brian Cornell as CEO: WSJ


(Reuters) - Target Corp is hiring PepsiCo Inc executive Brian Cornell as its new chief executive, the Wall Street Journal reported. Target has been looking for a new chief executive after removing Gregg Steinhafel as chairman and CEO in May in the wake of a devastating data breach, which hurt the No.3 U.S. retailer`s profit, shook customer confidence in the company and prompted congressional hearings. Steinhafel had been Target`s CEO since 2008 and his departure also followed the company`s botched multi-billion dollar expansion into Canada. The Minneapolis-based company had named its Chief Financial Officer John Mulligan as interim chief executive.


Thursday, July 31, 2014  08:18

Yahoo

Business - Bank of America ordered to pay $1.27 billion for `Hustle` fraud


By Jonathan Stempel NEW YORK (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp. U.S. District Judge Jed Rakoff in Manhattan ruled after a jury last October found the second-largest U.S. bank liable for the sale by Countrywide of defective loans to government-controlled mortgage companies Fannie Mae and Freddie Mac Rakoff also ordered former mid-level Countrywide executive Rebecca Mairone, who was also found liable and was the only individual charged, to pay $1 million, citing her `leading role` in the fraud and calling some of her testimony `implausible.` While the bank`s penalty was below the $2.1 billion sought by the U.S. Department of Justice, it marks another legal defeat for Bank of America over its disastrous July 2008 purchase of Countrywide, which has cost tens of billions of dollars in litigation, loan buybacks and writedowns. Bank of America has also held talks on another, potentially multi-billion-dollar settlement to resolve separate government probes into mortgage securities, including from Countrywide and its Merrill Lynch unit.


Wednesday, July 30, 2014  21:54

Yahoo

Business - Bank of America ordered to pay $1.27 bln for Countrywide fraud


By Jonathan Stempel NEW YORK (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay $1.27 billion of damages after a federal jury found the second-largest U.S. bank liable for fraud over defective mortgages sold by its Countrywide unit. U.S. District Judge Jed Rakoff in Manhattan ruled nine months after jurors found Bank of America and former Countrywide executive Rebecca Mairone liable for defrauding government-controlled mortgage companies Fannie Mae and Freddie Mac through the sale of shoddy loans by the former Countrywide Financial Inc in 2007 and 2008. ...


Wednesday, July 30, 2014  19:53

Yahoo

Business - Bank of America ordered to pay $1.27 billion for Countrywide fraud


A federal judge on Wednesday ordered Bank of America Corp to pay $1.27 billion of damages after a federal jury found the second-largest U.S. bank liable for fraud over defective mortgages sold by its Countrywide unit. The decision by U.S. District Judge Jed Rakoff in Manhattan came nine months after jurors found Bank of America and former Countrywide executive Rebecca Mairone liable for defrauding government-controlled mortgage companies Fannie Mae and Freddie Mac through the sale of shoddy Countrywide loans in 2007 and 2008. Rakoff said Fannie Mae and Freddie Mac bought $2.96 billion of questionable loans. Lawrence Grayson, a Bank of America spokesman, said with regard to the award: `This figure simply bears no relation to a limited Countrywide program that lasted several months and ended before Bank of America`s acquisition of the company.


Wednesday, July 30, 2014  19:13

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