“Senate Republicans on Tuesday blocked a proposal that would have taxed windfall profits of the largest oil companies and allowed the government to take OPEC members to court, handing Democrats fresh ammunition in an election year in which voters are struggling with surging gasoline prices,” the International Herald Tribune reports.
Although Apple’s new 3G iphone may be very enticing to consumers, the product falls behind competitors like RIM’s BlackBerry and Windows Mobile in the corporate world because of “better security and device management capabilities,” according to The Street.
“U.S. stock-index futures advanced after Staples Inc. won a fight to purchase Corporate Express NV and Biogen Idec Inc. said it got a $15 billion buyout offer from Carl Icahn, fueling speculation takeovers may boost share prices,” Bloomberg.com writes.
Reuters reports that, “Oil major BP accused its Russian partners of staging a boardroom coup at their 50-50 Russian oil joint venture TNK-BP on Wednesday as the two sides prepared to re-enter negotiations on the future of the company.”
A corrupt hedge fund manager either committed suicide or disappeared days before a 20-year sentence was to begin. "It is the latest development in a scandal that rocked the investing world in 2005 and cost investors in the fund more than $400 million," according to The Wall Street Journal.
“High-level negotiations over the future role of the U.S. military in Iraq have turned into an increasingly acrimonious public debate, with Iraqi politicians denouncing what they say are U.S. demands to maintain nearly 60 bases in their country indefinitely,” according to The Washington Post.
“National security agencies are warning businesses and federal officials that laptops and e-mail devices taken to the Beijing Olympics are likely to be penetrated by Chinese agents aiming to steal secrets or plant bugs to infiltrate U.S. computer networks,” USA Today reports.
President Lee Myung-bak of South Korea is struggling to hold on to his position following huge demonstrations against him and his administration yesterday in response to the April decision to allow U.S. beef imports back into the country. Mad cow disease was discovered in American cattle in 2003, leading to a ban.
"China and the U.S. will pay homage this week to the now-famous "pingpong diplomacy" with a three-day event at the Richard Nixon Library & Birthplace that culminates in a rematch between several of the original athletes," according to The Washington Times.
Michelle Obama has been increasingly the target of Republicans as her husband Barack’s presidential campaign progresses. According to the Los Angeles Times, Republicans have been latching on to her comment from several months ago that, “For the first time in my adult lifetime, I am really proud of my country.”
Republicans are preparing for big losses come September, including double-digit drops in the House and about four or five lost seats in the Senate. “And many expect losses even if their presidential candidate, John McCain, captures the White House,” according to The Wall Street Journal.
Wisconsin's Lake Delton has burst its bank. "On Tuesday morning, some 24 hours after the catastrophe, the massive lake is nearly drained. The lake is a muddy moonscape of cracked earth," The Chicago Tribune reports.
"Researchers predict a 'dead zone' of oxygen-depleted waters off the Louisiana and Texas coasts could grow this summer to 10,084 square miles—making it the largest such expanse on record," reports MSNBC.
The nation’s leading AIDS doctor, Dr. Anthony Fauci, said Tuesday that that researchers have been undercounting new cases of HIV infection in the United States, meaning the rate is probably 25 percent higher at 50,000 people per year
"A propensity for attention deficit hyperactivity disorder (ADHD) might be beneficial to a group of Kenyan nomads, according to new research. Scientists have shown that an ADHD-associated version of the gene DRD4 is associated with better health in nomadic tribesmen, and yet may cause malnourishment in their settled cousins," ScienceDaily reports.
Actor and philanthropist Paul Newman is battling cancer, a longtime friend and business partner confirms. Newman, 83, said that he was "doing nicely" in a statement released Tuesday night, but didn't specifically address questions about his illness.