U.S. considers fraud investigation into Chinese Internet companies

Linda Young – AHN News Writer
Washington, D.C., United States (AHN) – Shares of Chinese Internet stocks took a nose-dive in value in New York trading after an announcement of a potential fraud investigation of some Chinese firms by the United States Justice Department. Justice Department official Robert Khuzami, director of enforcement at the US financial services regulator, announced he was considering launching a fraud investigation. He said it was because of accounting irregularities at several Chinese firms with shares that trade publicly in the U.S. Khuzami did not disclose the identities of the Chinese companies or auditors whom the Justice Department is considering investigating. In addition, he said that other parts of the Justice Department were actively [...] Continue Reading…

Amazon’s Kindle tablet may loosen Apple iPad’s tight grip on market

Linda Young – AHN News Writer
New York, NY, United States (AHN) – Apple’s iPad had an 80 percent share of the market for tablet computers in the United States and Canada in the second quarter of the year. Shipments of the iPad accounted for 6 million of the 7.5 million tablets shipped in North America during that time, according to research group Strategy Analytics. That put the iPad way ahead of tablets from rivals Asus, HTC, Motorola, RIM and Samsung. However, that might change because there is a new tablet computer. Amazon on Wednesday announced the introduction of its new Kindle Fire Tablet to compete with the iPad. It will go on sale Nov. 15 [...] Continue Reading…

Moody’s cuts credit ratings of eight Greek banks

Vittorio Hernandez – AHN News
Athens, Greece (AHN) – Moody’s Investors Service downgraded the credit rating of eight Greek banks by two notches on Friday. The rating agency cited anticipated heavy losses because of the banks’ holding of Greek government bonds, the impact of a recession, weak liquidity and funding positions. Moody’s reduced to Caa2 from B3 the ratings of: the National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank, Agricultural Bank of Greece and Attica Bank. It cut to B3 from B1 the ratings of: Emponki Bank of Greece and General Bank of Greece. The reduced ratings were accompanied by a negative [...] Continue Reading…

Puntland legislator gunned down in central Somalia

Abdi Hajji Hussein – AHN News Correspondent
Galka’yo, Puntland, Somalia (AHN) – A parliamentarian from the semi-autonomous state of Puntland was gunned down in a central Somali Tuesday night. Abdurrahman Ahmed Hajji was shot and killed by two masked men armed with pistols as he walked in the Israa neighborhood north of Galka’yo, the regional capital of the Mudug region, Ahmed Nur, a local resident, told All Headline News by phone. “The gunshots hit him on the head and chest and he was immediately rushed to the hospital where he died only minutes later from his gunshot wounds” Nur said. “Shortly after the shooting of the MP, the security forces of Puntland reached at the spot and [...] Continue Reading…

Girls Gone Wild founder wins gambling debt case against Vegas casino

Windsor Genova – AHN News News Writer
Las Vegas, NV, United States (AHN) – Nevada’s Clark County District Court on Wednesday threw out the case of Las Vegas billionaire Steve Wynn against Girls Gone Wild founder Joe Francis as it ruled that Francis did not intend not pay $2.5 million in gambling debts to Wynn. District Court Judge Linda Marie Bell found that prosecutors had insufficient evidence to the theft charges against Francis. Francis had denied owing the amount to Wynn Resort after gambling there in 2007. “I have maintained my innocence in this matter from the start,” Francis said in a press statement. “I think it was disgusting that Steve Wynn attempted to manipulate banking records to [...] Continue Reading…

Heads of state visit Libya

Vittorio Hernandez – AHN News
Tripoli, Libya (AHN) – Two heads of state who were instrumental in helping oust Libyan dictator Muammar Gaddafi from power are in the North African country. British Prime Minister David Cameron and French President Nicolas Sarkozy arrived Thursday in Tripoli to meet with the National Transitional Council, the temporary new government of Libya. It is the first visit of country heads since Gaddafi was overthrown in a popular uprising supported by NATO through air strikes. France and Britain heavily supported the air strikes that led to the downfall of Gaddafi after 42 years in power. From Tripoli, Cameron and Sarkozy will proceed to Benghazi, the first city seized by the Libyan rebels, [...] Continue Reading…

Risk of Greek default jumps to 98 percent

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – The chance the Greece will default on its debts within the next five years has soared to 98 percent as Prime Minister George Papandreou failed to reassure the world that his country can survive the euro-region debt crisis. Fears of a Greek default sent stock markets tumbling all across the globe. Worries have mounted that Greece’s trouble may be contagious and that other European countries are poised for a similar fate. Eyes are carefully focused on Italy and Portugal for any signs of imminent financial dangers. Greece’s government expects the country’s economy to shrink more than 5 percent in 2011, more than the 3.8 percent [...] Continue Reading…

Postal Service Wants a Big Change of Plans as it faces default

Tom Ramstack – AHN News Legal Correspondent
Washington, D.C., United States (AHN) – Mail service nationwide will stop as soon as this winter without emergency funding from Congress, the head of the U.S. Postal Service said Tuesday. The agency has run up a debt of nearly $10 billion so far this year, Patrick R. Donahoe, U.S. Postmaster General, told the Senate Homeland Security and Governmental Affairs Committee. “We are at a critical juncture,” Donahoe said. The Postal Service also has no means of paying a $5.5 billion bill due Sept. 30 to fund retirees’ health care, Donahoe said. E-mail and faxes are reducing the need for regular mail but also reducing the Postal Service’s [...] Continue Reading…

Dove hunting legal in Iowa for first time in nearly a century

Jojo Doria – AHN Sports Contributor
Des Moines, IA, United States (AHN Sports) – After a 93 years following the Migratory Bird Treaty Act with Canada and Mexico, dove hunters unpacked their hunting gear last Thursday for the opening day of Iowa’s first mourning dove season. For 70 days, starting Sept. 1 to Nov. 9, dove hunters will be training their sights on the small but swift targets which are now legal prey in the state for the first time since 1918. The law legalizing the hunt of this bird, also called the Turtle Dove or the American Mourning Dove or Rain Dove, was signed this year. It made Iowa the 41st state with legal dove hunting. [...] Continue Reading…

Survey: Canadians expect to be free from debt when they reach 55

Vittorio Hernandez – AHN News
Toronto, Ontario, Canada (AHN) – The average Canadian pinpoints 55 as they age they would likely be free from debt, according to a Canadian Imperial Bank of Commerce survey released on Monday. The poll, conducted by Harris/Decima, surveyed Canadians between the ages 18 and 64. It found that only 35 percent of those in the age group 55 to 64 had no debt. On the average, the respondents see themselves paying off their debts within 10 to 15 years. Thus, those in the age group 18 to 24 said they would likely be free from debt by 32, while those in the 24-34 group placed it at 44, those in the 45 [...] Continue Reading…