Reuters: At least 51 people are killed and 40 more feared dead as a massive tornado devastates Moore, Oklahoma City, prompting US President Barack Obama to declare a state of emergency For more video content from the Financial Times, visit http://www.FT.com/video
President Barack Obama says it would be "outrageous" if Internal Revenue Service staff targeted conservative groups for extra scrutiny, saying anyone found to have done so must be held fully accountable. For more video content from the Financial Times, visit http://www.FT.com/video
It was one week ago this Tuesday that a hacked AP account tweeted, “Breaking: Two Explosions in the White House and Barack Obama is injured” to its 1.9 million followers. Moments later, the @AP twitter handle released a statement saying they had been hacked and that President Obama was fine, but the markets had already reacted. The Dow Jones Industrial Average plummeted 150 points and lost $136 billion in value before rebounding.
It was one week ago this Tuesday that a hacked AP account tweeted, “Breaking: Two Explosions in the White House and Barack Obama is injured” to its 1.9 million followers. Moments later, the @AP twitter handle released a statement saying they had been hacked and that President Obama was fine, but the markets had already reacted
It’s a big reporting season right now, not just for corporate earnings, but also for disclosure of political contributions. “It’s almost like an earnings report but they all come in on the same day,” says Kent Cooper, editor of Roll Call’s new Political Moneyline blog which tracks Federal Election Commission disclosures.
Last week, the Dow ( DJI ) and S&P 500 ( ^GSPC ) both beat their all-time closing highs set back in 2007. In a Sunday New York Times op-ed , David Stockman, President Reagan’s budget director and former Republican Congressman, writes “instead of cheering, we should be very afraid.” Stockman goes on to lay out a case for his prediction: “This latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode” in the next few years. (His concern over Fed-fueled bubbles is one theme from his new book The Great Deformation: The Corruption of Capitalism in America .) Stockman tells The Daily Ticker that “the bond market, stock market, all risk assets - they’re totally driven by the Fed." He argues that the Fed is largely responsible for the market’s trajectory
Early last Saturday morning something happened in the U.S. Senate for the first time in four years
We all know the cliché: ‘Don’t mess with Texas.’ Well, a new piece of legislation is being proposed to send that message to Washington, when it comes to protecting Texas’ gold. A lawmaker has proposed a bill to create a Texas Bullion Depository, which would allow the state and its citizens to store gold bullion in its own facility in Texas, with the protection of the state
Video archive: Venezuela's President Hugo Chávez and Rafael Correa, the president of Ecuador, talk to Matthew Garrahan as he travels through South America following the film maker Oliver Stone, whose new documentary "South of the Border" explores the rise of the left in the continent. (Recorded June 2010) For more video content from the Financial Times, visit http://www.FT.com/video
Anti-capitalist leader suffers complications after cancer surgery: Thousands of mourners gathered outside late President Hugo Chávez's military hospital in Caracas shortly after it was announced the popular leader had lost his two-year battle with cancer. Obituary: Populist who built power through petrodiplomacy http://www.ft.com/intl/cms/s/0/ac2d8ee0-eab7-11e0-ac18-00144feab49a.html