Investors’ Risky Bet on the Ghost of Freddie Past

The post-bailout world abounds with financial incongruities. Witness: Federal Home Loan Mortgage Corporation, or “Freddie Mac,” the government-sponsored agency that by its own admission “makes home possible for one in four home buyers and is one of the largest sources of financing for multifamily housing.” Since the beginning of 2009, it has provided nearly $ 1.6 trillion of funding to the U.S. mortgage...

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Gunmen assassinate peasant leader in Paraguay

ASUNCION, Paraguay (AP) — Gunmen murdered one of the surviving leaders of a peasant movement whose land dispute with a powerful politician prompted the end of Fernando Lugo‘s presidency last June.Vidal Vega, 48, was hit four times early Saturday by bullets from a 12-gauge shotgun and a .38-caliber revolver fired by two unidentified men who sped away on a motorcycle, according to an official report...

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How Google Stole Christmas (And is Bringing it Back)

Google‘s Nexus smartphones and tablets have a unique feature that’s also a curse. They come with the latest version of Android (which is actually unusual among Android devices), and they’re basically guaranteed to get updates throughout their lifespan (which is also unusual). But on the downside, Nexus owners are also the first to discover new “features” in each version of Android … like Google’s...

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Letterman, Hoffman, Zeppelin honored by Obama

WASHINGTON (AP) — David Letterman‘s “stupid human tricks” and Top 10 lists vaulted into the ranks of cultural acclaim Sunday night as the late-night comedian received this year’s Kennedy Center Honors with rock band Led Zeppelin, an actor, a ballerina and a bluesman.Stars from New York, Hollywood and the music world joined President Barack Obama at the White House on Sunday night to salute the honorees,...

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Holiday fitness gifts trend from high-tech to basic

NEW YORK (Reuters) – Looking for the perfect holiday present for a fitness fan? Gift offerings this year range from apps that can store a run in the country to be viewed later to gadgets so sophisticated they measure quality of sleep as well as calories burned.There is also the revival of the humble foam roller, which experts say, like old-time push-ups, squats and planks, has never been more popular.Anita...

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Global firms’ tax pay ‘an insult’

3 December 2012 Last updated at 05:44 ETGlobal firms in the UK that pay little or no tax are an “insult” to British businesses, a committee of MPs says.Public Accounts Committee chairwoman Margaret Hodge said HM Revenue and Customs (HMRC) needed to be “more aggressive and assertive in confronting corporate tax avoidance”.Multinationals such as Starbucks and Amazon have come under fire for paying little...

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Italy votes for center-left candidate for premier

ROME (AP) — Italians are choosing a center-left candidate for premier for elections early next year, an important primary runoff given the main party is ahead in the polls against a center-right camp in utter chaos over whether Silvio Berlusconi will run again.Sunday’s runoff pits a veteran center-left leader, Pier Luigi Bersani, 61, against the 37-year-old mayor of Florence, Matteo Renzi, who has...

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Ricky Martin finds new home on small screen

NEW YORK (AP) — Ricky Martin is saying goodbye to Broadway’s “Evita.” But don’t cry for him.The Latin superstar has a slew of new projects in the works, including two television series and a children’s book.“It’s about growing,” said Martin in an interview Friday. “It’s a moment in my life where I just need to absorb and be surrounded by amazing actors and musicians and grow as an entertainer. I think...

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Analysis: Drugmakers step up search for hearing loss medicines

ZURICH/LONDON (Reuters) – When Swiss biotech firm Auris Medical wanted to recruit patients to test its experimental hearing loss drug, it decided to enlist partygoers deafened by firecrackers on New Year’s Eve.In the weeks leading up to December 31, 2005 it advertised in the subway and on radio stations in Munich and Berlin, urging victims of sudden firecracker-induced hearing loss to turn up at designated...

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Deficit cut ‘could take longer’

2 December 2012 Last updated at 06:13 ETPlease turn on JavaScript. Media requires JavaScript to play. Chancellor George Osborne says the rich will pay more, but welfare spending must also come down.Chancellor George Osborne has admitted that curbing the UK’s financial deficit is “taking longer” than planned.But he told the BBC the government was “making progress” and that to “turn back now would be...

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