Karzai Confesses Iran and U S Cash Support to Afghan Office
Afghan President Hamid Karzai said his office receives cash from Iran and from the United States, noting Iran funds official expenses with 700000 to 975000 dollars yearly and Washington also provides cash. US officials say both countries have used cash as aid in Afghanistan, citing broad practice in a cash dependent economy.
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Fed leader warns of future downturn and rate split
A Fed official Hoenig urged modest rate rises to curb inflation despite the risk to a fragile recovery. Most Fed leaders fear any hike could trigger deflation and stall growth. A Lied Center crowd of about 1,500 sought clarity as Topeka attorney Stu Entz weighed long term vision versus immediate action to revive the economy.
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Kansas coal plant debated as option for Tri-State system
A Kansas hearing on the Sunflower Electric coal plant drew about 150 people. Tri-State Generation would own most of the 895 MW unit and power would flow out of state, with 1,900 construction jobs and 6.5 million in annual payroll once complete. Opponents warned of carbon emissions and health impacts, while supporters argued for jobs and wind development. KDHE has received over 5,600 comments as the permitting process nears its end.
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Sony Walkman obituary ends era of portable cassette music
Sony announced the cessation of production for the classic Walkman in Japan at age 31, marking the end of an era for portable cassette music. The device will still be produced in China and distributed in the U S Europe and parts of Asia while Discman remains as its surviving successor.
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Market Highlights From Monday Trading Session
Major indexes posted gains with the Dow up 31.49 points to 11,164.05, the Nasdaq at 2,490.85 and the S&P 500 rising 42.54 to 1,185.62. Treasury yields slipped 0.03 to 3.91 percent as grain, oil, and agricultural futures moved on mixed signals.
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Regulators probe mortgage foreclosures for weak procedures
Federal Reserve Chairman Ben Bernanke said regulators are intensively examining whether major mortgage firms cut corners in their foreclosure procedures. Preliminary results due next month will assess policies, internal controls, and potential systemic weaknesses affecting foreclosures and the broader real estate and financial markets. The probe involves OCC, FDIC, and state Attorneys General offices alongside federal agencies.
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