"Wall Street tumbled for a second session Wednesday after a government report on retail sales and a jump in oil prices raised investors' concerns about consumers' ability to spend and feed economic growth," the Associated Press reports.
“Russia's RTS stock index is turning into the world's worst performer this quarter as tumbling oil, a war in Georgia and the probe of a steel company remind investors owning shares in the former Communist nation can be perilous,” Bloomberg.com reports.
The Financial Times reports that senior executives at UBS, the Swiss bank being investigated by U.S. authorities, knew that some of their bankers “had acted in a way that meant they risked breaching American securities laws at least a year before the U.S. inquiries began.”
A Genentech Inc. board committee has rejected a bid from Roche Group AG of $44 billon to acquire the 44 percent stake of the company it doesn't already own, saying it "substantially undervalues the company."
Despite an official cease-fire, violence has increased in Georgia, where Russian tanks have been seen patrolling the city of Gori, the BBC reports. People living the city have said that there is “looting going on involving South Ossetian separatists” and there are also reports of cars being taken from residents at gunpoint at city entrances.
A bomb has killed at least 12 people in the north Lebanese city of Tripoli, reports AFP. Forty people were wounded by the blast, which took place in a busy shopping district during the morning rush hour.
French prosecutors have opened an investigation after T-shirts carrying anti-Semitic slogans were seen on sale in a shop in Paris. The shirts had slogans in German and Polish that translate as “Jews forbidden from entering the park,” and were reproduced from Nazi signs from 1940 that targeted the Jewish community in the Polish town of Lodz.
President George W. Bush on Wednesday told Russia to end the crisis with Georgia and sent Secretary of State Condoleezza Rice to Tbilisi to show "unwavering" U.S. support for the former Soviet republic, Reuters reports.
Fliers who went to airport security checkpoints without identification will be added to a Transportation Security Administration database of people who have violated security laws or were questioned for suspicious behavior. The TSA began tracking the information on individuals in June, many of whom they had inadvertently left their driver’s licenses or passports at home.
Texas rangers are investigating roughly 20 abuse cases and 50 bigamy cases involving members of the Yearning for Zion Ranch that was raided earlier this year, a Department of Public Safety spokeswoman has confirmed.
The Washington Post explored Barack Obama’s “age problem” in a story Tuesday: “If the senator from Illinois is going to achieve his goal of bridging the nation’s divides, he is going to have to overcome a generation gap with older voters unlike any such split a Democratic presidential nominee has faced in years.”
Some large whale species, including the humpback, minke and southern right whale, are recovering from the threat of extinction, thanks in part to the regulation of whale hunting since the 1980s, the International Union for Conservation of Nature said Tuesday.
By using a chemical to block the creation of memories, scientists have prevented mice from using cocaine after having become addicted to the drug. They hope to one day be able to give humans some version of the chemical to stop cocaine addiction.
"The US women's gymnastics team blamed stadium officials Wednesday for distracting one of their athletes who went on to make crucial mistakes that destroyed their gold medal hopes," Breitbart reports. U.S. coach Martha Karolyi said officials at Beijing's National Indoor Stadium had disrupted gymnast Alicia Sacramone's preparations for the balance beam.
American swimmer Michael Phelps made Olympic history Wednesday, winning his 10th and 11th career gold medals, bringing his Beijing total to five. He has broken the world record in each of the five events in which he has competed at the Beijing Games.
The Chinese gymnastics team won its first ever Olympic team gold on Wednesday, with the U.S. team coming in second, but some still question the legitimacy of the Chinese team, reports The New York Times: “Leading up to the Olympics, some official Chinese sports registration lists in China suggested that half of the Chinese women’s team did not meet the age requirement of turning 16 in 2008.”
“A new report on severe sporting injuries among high school and college athletes shows cheerleading appears to account for a larger proportion of all such injuries than previously thought,” Science Daily reports.