BP posted a $1.4 billion loss for the second quarter of the year. The main reason for the loss is that BP took a $4.8 billion writedown — in other words it reassessed some of its assets and decided that they were worth less than the company thought.
Many experts say reducing mortgage principal can help troubled homeowners avoid foreclosure and stay in their homes. But the regulator who oversees two of the nation's largest mortgage holders, Fannie Mae and Freddie Mac, has rejected the idea.
Credit Justin Sullivan / Getty Images
A federal regulator is blocking the government-owned mortgage giants Fannie Mae and Freddie Mac from reducing the principal that homeowners owe on their mortgages in order to avoid foreclosures.
Tuesday's decision came from Edward DeMarco, the acting director of the Federal Housing Finance Agency.
National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci said a voluntary halt to bird flu research should stay in effect.
Credit Chip Somodevilla / Getty Images
A voluntary moratorium on certain experiments involving forms of bird flu altered in laboratories should continue until there can be more public discussion of safety concerns, a prominent government official told flu researchers at a meeting in New York City Tuesday.
What does President Obama have in common with his immediate White House predecessor?
Both men spent a disproportionate amount of their first terms making appearances in battleground states, Brendan Doherty, a political scientist at the U.S. Naval Academy, writes in a post on The Monkey Cage political-science blog.
U.S. swimmers Conor Dwyer (left), Michael Phelps, Ryan Lochte, Ricky Berens poses on the podium with their gold medals after winning the men's 4x200m freestyle relay final at the London 2012 Olympic Games.
The U.S. men's swimming team has won the 4x200m freestyle relay, in a race that also gave Michael Phelps a record 19 medals in the Olympics. He netted his 18th, a silver, earlier in the day.
Update at 4:05 p.m. EDT: For the relay final, the American team swam in the fourth lane, next to their greatest rivals, the French, who posted the fasted qualifying time. The French are led by Yannick Agnel, who soundly defeated Ryan Lochte and others in the men's 200m freestyle Monday.
Muslim girls study by candlelight Monday inside a madrasa, or religious school, in Noida, on the outskirts of New Delhi. Three regional power grids collapsed, causing a massive power outage that blacked out more than half of India.
Credit Parivartan Sharma / Reuters /Landov
It might be too early to say what the exact cause of India's latest massive power outage is, but in its simplest form, it probably has something to do with supply and demand –- not enough of the former and too much of the latter.
The outage, which left more than 670 million of the country's 1.2 billion people without power, snarled traffic, shut down electric trains and idled some businesses. Indian officials say they are rapidly restoring power, but it's unclear how soon the situation will be back to normal.
Republican presidential candidate Mitt Romney says America's national security priority should be preventing Iran from acquiring a nuclear weapon, and he was talking tough about this in his recent stop in Jerusalem.
"History teaches with force and clarity that when the world's most despotic regimes secure the world's most destructive weapons, peace often gives way to oppression, to violence, or to devastating war," Romney said. "We must not delude ourselves into thinking that containment is an option."
On their bottles, Innocent declares itself the juice of champions — before adding, "rather than bang on about it, we thought we'd show you a picture of a tiger running through his pre-swim checklist." The drinks are a welcome sight at the Olympic media center.
Credit Vickie Walton-James / NPR
When you spend hours on end at a media center, even if it's on an assignment as terrific as the Summer Olympics, the refreshments can get to be, well, familiar.
But no contempt has been bred here. That's partly because of Innocent brand juice — the "official smoothie and juice of the London 2012 Olympic games," as the label says.
And any drink that can make us chuckle on deadline is greatly appreciated. Especially if it's what's on the outside of the bottle that makes us laugh.
Erin Morgenstern is the author of The Night Circus.
There are still days when rain flooding the gutters conjures a picture in my mind of a paper boat being chased by a little boy in a yellow raincoat. The boy's name is Georgie and he is about to meet a rather gruesome fate, smiling up at him from a storm drain.
Originally published on Wed August 1, 2012 1:18 pm
Cuban performers ranging from dancers to opera singers were packing in audiences at Havana's El Cabildo restaurant and cabaret. In a case seen as a test of Raul Castro's commitment to economic changes, government inspectors recently closed the restaurant.
Ulises Aquino was already one of Cuba's best-known baritones when he founded his own company, Opera de la Calle, or Opera of the Street, in 2006. By combining Cuban rhythms and dance with his formal musical training, he won fans at home and abroad.
Aquino also considers himself a good "revolucionario," meaning he's a loyal supporter of Cuba's socialist system. And when President Raul Castro urged Cubans to increase productivity by starting small businesses, Aquino answered the call.