Headline News

  • Navistar slides after saying SEC may take action over emissions dispute and financial concerns

    LISLE, Ill. –  Truck and engine maker Navistar said Wednesday the federal government may take action against the company in a dispute over environmental certification of heavy-duty diesel engines. The investigation covers possible violations of securities law and a previous settlement between Navistar and the Securities and Exchange Commission. The company’s shares dropped about 6 percent in afternoon trading. Navistar said it received “Wells Notices” from the SEC on Aug. 13 and 17, which means the SEC’s investigators are recommending that the agency take civil action against the company and former Chairman and CEO Daniel Ustian. The SEC is also investigating Navistar’s disclosures regarding Ustian’s retirement in August 2012. Navistar said it is cooperating with the SEC, although the two sides have gone to court in a dispute over some of the documents the agency requested. A court ordered Navistar to turn over some of those documents but said it wasn’t required to hand over …

    September 2, 2015 1:18 pm


  • Presidential hopeful Rubio wants to lift ‘outdated’ oil export ban

    WASHINGTON Republican presidential candidate Marco Rubio would lift the ban on exporting crude oil soon after taking office if he is elected, the Florida senator will say Wednesday in a speech previewing his energy strategy. “This ban is a perfect example of just how outdated Washington has become. Lifting the crude-oil export ban will be an immediate boon to our economy,” Rubio will say, according to excerpts of his speech to the Oklahoma Independent Petroleum Association released by his campaign. He was due to give the speech in Oklahoma City at 2:30 p.m. EDT. Rubio plans to lay out a more detailed energy agenda this autumn but will highlight some of his priorities, including lifting the four-decade ban on exporting domestic crude oil overseas, and blocking the Obama administration’s new carbon emission limits on power plants and other regulations. Oil producers are pressing for a full repeal of the crude export ban to keep the domestic drilling …

    September 2, 2015 11:17 am


  • If the stock market hits this level, then get nervous

    The stock market has been ugly lately. There are those who say this is only the beginning. Get ready for a deeper crash. Then there are those who argue this is just a healthy blip and that stocks will keep going up. Goldman Sachs (GS), for example, still predicts the market will end the year higher (albeit modestly). Time will tell who is right. But remember that we live in an era where computer trading dominates the American stock market. The “robots” that are making a lot of trading calls aren’t sitting around pondering China’s economy. They are paying attention to whether stocks fall below key levels. What are those levels? No one knows exactly. But here are two metrics worth watching. If these are crossed, both computer and human traders will see the significance. Related: Why U.S. stocks aren’t headed for a crash 1. SP 500 at 1865 At the worst of the August …

    September 2, 2015 12:17 pm


  • Bill Haas motivated to make Presidents Cup team even if his father wasn’t US captain

    NORTON, Mass. –  Bill Haas is grinding harder than ever in the FedEx Cup playoffs, only the immediate goal has nothing to do with a $10 million bonus. He wants a chance to play for no money at all. Haas is No. 11 in the Presidents Cup standings. The Deutsche Bank Championship, which starts Friday, is the final event for the top 10 players to earn automatic spots on the U.S. team for the Oct. 8-11 matches in South Korea. Haas, who has played on the last two Presidents Cup teams, already gets enough attention for being on the bubble. It gets even more acute because his father, Jay Haas, is the U.S. captain for the first time. So he wasn’t surprised to be stopped on his way to the putting green Wednesday at the TPC Boston. Nor was he bothered when he was asked Sunday at The Barclays, after closing with a 74 to …

    September 2, 2015 1:37 pm

World News

  • Fox anchor sues over hamster toy

    Image copyright AP Image caption TV journalist Harris Faulkner (left) says the Harris Faulkner hamster toy resembles her A Fox News anchor is suing a US toy company, Hasbro, for more than $5m (£3.3m) over a toy hamster that she says resembles her and shares her name. Harris Faulkner said the company’s portrayal of her as a plastic hamster “was demeaning and insulting”. She filed a legal case saying the toy resembled her traditional professional appearance, including complexion, eye shape and eye make-up design. The toy is part of the company’s popular Littlest Pet Shop collection. It was first introduced in 2014, according to legal documents obtained by entertainment news website Deadline. The legal case, which was filed at a district court in New Jersey on Monday, said Hasbro had “wilfully and wrongfully appropriated Faulkner’s unique and valuable name and distinctive persona for its own financial gain”. It said Mrs Faulkner, who has been a …

    September 2, 2015 1:38 pm


  • Everest: how Jake Gyllenhaal got to grips with the world’s highest mountain

    Imported snow from Holland was among the secret weapons deployed by Everest director Baltasar Kormákur in his quest to make his 3D film about the disastrous 1996 expedition, when eight climbers died on the world’s highest mountain, as realistic as possible. “It was the real stuff, minus 60 degrees; when we were shooting at Pinewood, we blasted it in their faces as hard as we could.” “I wanted the actors to respond to the environment,” Kormákur said. “The more you draw from reality, the more likely you are to get reality.” Everest, which features Jason Clarke and Jake Gyllenhaal as Rob Hall and Scott Fischer, leaders of rival expeditions on the mountain, both of whom died in the tragedy, has been given the prestigious opening-night gala slot at the Venice film festival. Watch the trailer for Everest Speaking to the press before the official screening, Kormákur, an Icelandic-born film-maker, joked that he “had been practising …

    September 2, 2015 11:37 am


  • Risk of financial crisis higher than previously estimated

    The study, published in the journal Financial Stability, introduces a new method that allows researchers to estimate the systemic risk that emerge from multiple layers of connectivity. “Systemic risk is the risk that a significant part of the financial system stops working–that it cannot perform its function,” says IIASA Advanced Systems Analysis program researcher Sebastian Poledna, who led the study. For example if a major bank fails, it could trigger the failure of other financial institutions that are linked to it through loans, derivatives, securities, and foreign exchange exposure. The fear of such contagion is what drives governments to bail out banks. “Previous studies of systemic risk had just examined one layer of this system, the interbank loans,” says Poledna. The new study expands this to include three other layers of connectivity: derivatives, securities, and foreign exchange. By including the other layers, Poledna and colleagues found that the actual risk was 90% higher than the …

    September 2, 2015 10:37 am


  • Gilead combo HIV pill matches Truvada efficacy but safer in trial

    Gilead Sciences Inc said on Wednesday its experimental fixed-dose combination treatment for HIV proved as effective in a late-stage study as the company’s widely used Truvada combo pill but with significantly less loss of bone mineral density and kidney function. The company has already sought U.S. and European marketing approval for the new combo pill nicknamed F/TAF, which is meant to be a safer replacement for Truvada, a cornerstone of HIV treatment that has been associated with slight declines in bone mineral density and kidney function. “The results of this and other recent trials demonstrate the potential of F/TAF to become a next-generation backbone” of treatment for HIV, the biotechnology company said in a release. The 48-week study was designed to assess effectiveness and safety of F/TAF among adults switching from Truvada. The combos had similar ability to drive rates of the HIV virus that causes AIDS down to undetectable levels. Overall safety was similar …

    September 2, 2015 10:58 am


  • Report: Gisele Bundchen Threatened Tom Brady With Divorce

    Posted on Wed Sep 2nd, 2015 10:10am PDT       By X17 Staff We think it’s only a matter of time before they’re dunzo! Gisele Bundchen allegedly threatened husband Tom Brady with divorce after months of bitter feuds and less than stellar treatment, Us Weekly reports. “Tom’s become very nasty and irritable and started acting out on her,” a source dished to the mag. Their problems reportedly began back in May, when the quarterback was hit with a four game suspension stemming from the now infamous Deflategate. To prove a point, the supermodel met with a divorce lawyer, but her hubby thinks she’s not serious about splitting and merely trying to scare him. “Tom thinks it’s only a threat. But this is definitely a rough patch,” the source added. The pair are trying to make it work… for the time being at least! They still share their Boston apartment, and the Brazilian stunner was recently photographed supporting her …

    September 2, 2015 1:17 pm


  • Don’t believe the naysayers, there is magic in markets

    People have long lists of things they think the market can’t possibly do — from building subways to fighting wars. Sometimes, the market does them anyway. War, for example. Even conservatives, who often praise markets, assume that only government can fight terrorists. Tell that to Matthew VanDyke. VanDyke and his group, Sons of Liberty International, spent the past months in Iraq training the Nineveh Plains Protection Unit, several thousand Christians willing to risk their lives fighting against ISIS’s brutal forces there. I don’t know if Sons of Liberty are as competent (or more competent) than the U.S. military, but they’re not using taxpayer dollars or getting the U.S. involved in a wider war. The market is actually better than magic, because there’s nothing mysterious about it — it’s all logical. My TV show on “market magic” this week looks at other things markets do that we’re always told only government can do — like run …

    September 2, 2015 9:57 am

Odd News

  • London’s car-melting skyscraper wins Carbuncle Cup

    LONDON A London skyscraper that made headlines for reflecting sunlight at an intensity that melted parts of a Jaguar car in the street below has been awarded the annual Carbuncle Cup that highlights perceived architectural horrors. Officially called 20 Fenchurch Street, the 37-storey office tower in the City of London financial district was nicknamed the Walkie Talkie due to its curved shape before the car-melting incident in 2013 spawned a new moniker, the Walkie Scorchie. Organized by Business Design magazine, the Carbuncle Cup is awarded by a panel of architecture critics who take into account comments sent in by readers. This year’s prize went to the Walkie Scorchie by a unanimous decision of the judges. One of them, Ike Ijeh, said City of London planners were as much to blame for approving what he described as “a gratuitous glass gargoyle graffitied onto the skyline of London” as the building’s renowned Uruguayan architect, Rafael Vinoly. “If …

    September 2, 2015 6:56 am