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Wednesday, August 3, 2011 12:12 AM PDT

Today's Yahoo! News - Latest News & Headlines: Debt is a done deal, but peace truce already fades Budget battle moves on to super committee Stocks on long losing streak as economy weakens Mubarak flown to Cairo to face historic trial Video shows Nancy Garrido luring girl into van Somali militiamen prey on refugees fleeing famine FAA shutdown to continue as Congress leaves Norway's right-wing on defensive after attacks Calif. death, 76 illnesses linked to ground turkey NBA takes legal action against locked-out players Default avoided but fears on economy remain U.S. rating maintained by Moody's, Fitch Syrian forces hit Hama again Analysis: Obama suffers political setback in debt deal Analysis: Decades-old auditor ties under scrutiny in U.S. StanChart pretax profit up 17 percent, beats forecasts Egypt's Mubarak to face trial set to rattle Arab rulers Analysis: Asia decoupling? Not without more help from China Italy under fire in widening euro debt crisis Exclusive: China mulls new regulator for state financial sector Egypt's Mubarak to face trial set to rattle Arab rulers Biggest-ever series of cyber attacks uncovered, U.N. hit Eleventh arrest in UK tabloid hacking scandal Faltering consumer spending to weigh on growth Automakers warn of fragile demand Debt is a done deal, but peace truce already fades Tue,2 Aug 2011 04:03 PM PDT AP - With scant time to spare, President Barack Obama signed legislation Tuesday to avoid an unprecedented national default that he said would have devastated the U.S. economy. But the truce with Republicans that defused the crisis seemed to be fading already. Full Story Top Budget battle moves on to super committee Tue,2 Aug 2011 08:28 PM PDT AP - The budget battle is not over. Many of the most nettlesome questions have been left for a new bipartisan super committee of 12 lawmakers whose task will be to find at least $1.2 trillion more in deficit cuts spread over the next decade. Full Story Top Stocks on long losing streak as economy weakens Tue,2 Aug 2011 02:46 PM PDT AP - The stock market is on its longest losing streak since the financial meltdown of 2008, confronted almost every day by fresh evidence that the economy is in serious trouble again. Full Story Top Mubarak flown to Cairo to face historic trial Tue,2 Aug 2011 11:40 PM PDT AP - Former President Hosni Mubarak was flown to Cairo Wednesday from the Red Sea resort where he has lived since his ouster six months ago for the start of his historic trial on charges of corruption and ordering the killing of protesters during Egypt's uprising. Full Story Top Video shows Nancy Garrido luring girl into van Tue,2 Aug 2011 08:32 PM PDT AP - Disturbing new video released Tuesday shows the wife of convicted kidnapper and rapist Phillip Garrido luring a young girl into the couple's van, asking her to do the splits and videotaping her, two years after the couple kidnapped 11-year-old Jaycee Dugard. Full Story Top Somali militiamen prey on refugees fleeing famine Tue,2 Aug 2011 02:06 PM PDT AP - Somalis with new uniforms and guns they say were bought by Kenya's government are supposed to be guarding the Somali-Kenya border against al-Qaida-linked militants. But many don't get paid, and some sell their weapons or prey on refugees fleeing famine. Full Story Top FAA shutdown to continue as Congress leaves Tue,2 Aug 2011 07:29 PM PDT AP - The government is likely to lose more than $1 billion in airline ticket taxes because lawmakers have left town for a month without resolving a partisan standoff over a bill to end the partial shutdown of the Federal Aviation Administration. Full Story Top Norway's right-wing on defensive after attacks Tue,2 Aug 2011 08:27 PM PDT AP - Warning voters about the danger of increasing Muslim influence in Norway, the Progress Party rode a wave of anti-immigrant feeling and took nearly a quarter of the seats in parliament in the country's last election. Full Story Top Calif. death, 76 illnesses linked to ground turkey Tue,2 Aug 2011 07:45 PM PDT AP - The government is scrambling to find the source of a salmonella outbreak likely linked to ground turkey that has killed one and sickened dozens more. Full Story Top NBA takes legal action against locked-out players Tue,2 Aug 2011 04:29 PM PDT AP - Trying to head off the chance of an antitrust lawsuit from the NBA Players Association, the league went ahead and beat the union to court. Full Story Top Default avoided but fears on economy remain Tue,2 Aug 2011 08:30 PM PDT Reuters - WASHINGTON (Reuters) - The United States stepped back from the brink of default on Tuesday but congressional approval of a last-ditch deficit-cutting plan failed to dispel fears of a credit downgrade and future tax and spending feuds. Full Story Top U.S. rating maintained by Moody's, Fitch Tue,2 Aug 2011 10:45 PM PDT Reuters - NEW YORK (Reuters) - The United States had its triple-A rating confirmed by two key ratings agencies on Tuesday after Washington struck a last-minute deal to avoid a debt default, but threats of future downgrades remain. Full Story Top Syrian forces hit Hama again Tue,2 Aug 2011 07:01 PM PDT Reuters - AMMAN (Reuters) - Syrian forces kept up attacks on Hama for a third day, residents said, while senators called on the Obama administration to impose tough new sanctions on Syria's energy sector. Full Story Top Analysis: Obama suffers political setback in debt deal Tue,2 Aug 2011 10:52 PM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama suffered a defeat in the battle over raising the U.S. debt limit that may have repercussions for his efforts to restore growth to the U.S. economy and win re-election in 2012. Full Story Top Analysis: Decades-old auditor ties under scrutiny in U.S. Tue,2 Aug 2011 10:03 PM PDT Reuters - NEW YORK (Reuters) - Goldman Sachs has stuck with the same auditing firm since 1926, Coca Cola since 1921, General Electric since 1909 and Procter & Gamble since 1890. That's going back 85, 90, 102 and 121 years. Full Story Top StanChart pretax profit up 17 percent, beats forecasts Tue,2 Aug 2011 11:29 PM PDT Reuters - HONG KONG (Reuters) - Asia-focused Standard Chartered Bank Plc reported a market-beating 17 percent rise in first-half pretax profit on Wednesday, helped by strong growth in some key markets such as Hong Kong, keeping it on track for another year of record profits. Full Story Top Egypt's Mubarak to face trial set to rattle Arab rulers Tue,2 Aug 2011 11:56 PM PDT Reuters - CAIRO (Reuters) - Egypt's Hosni Mubarak flew to Cairo on Wednesday where he will be tried for conspiring to kill protesters, the first Arab ruler to appear in court since uprisings swept the region. Full Story Top Analysis: Asia decoupling? Not without more help from China Tue,2 Aug 2011 11:45 PM PDT Reuters - SINGAPORE (Reuters) - Asia's best hope for insulation against a worsening economic outlook in the United States and Europe rests on China, and it may not be willing or able to do the job. Full Story Top Italy under fire in widening euro debt crisis Tue,2 Aug 2011 12:34 PM PDT Reuters - ROME (Reuters) - Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the euro area danger zone and prompting emergency consultations in Rome and among European capitals. Full Story Top Exclusive: China mulls new regulator for state financial sector Tue,2 Aug 2011 10:57 PM PDT Reuters - BEIJING (Reuters) - China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing's grip on its lenders. Full Story Top Egypt's Mubarak to face trial set to rattle Arab rulers Tue,2 Aug 2011 11:31 PM PDT Reuters - CAIRO (Reuters) - Egypt's Hosni Mubarak flew to Cairo on Wednesday where he will be tried for conspiring to kill protesters, the first Arab ruler to be put in the dock since uprisings swept the region. Full Story Top Biggest-ever series of cyber attacks uncovered, U.N. hit Tue,2 Aug 2011 09:07 PM PDT Reuters - BOSTON (Reuters) - Security experts have discovered the biggest series of cyber attacks to date, involving the infiltration of the networks of 72 organizations including the United Nations, governments and companies around the world. Full Story Top Eleventh arrest in UK tabloid hacking scandal Tue,2 Aug 2011 12:20 PM PDT Reuters - LONDON (Reuters) - Stuart Kuttner, managing editor of the News of the World for 22 years, was arrested and later freed on bail on Tuesday over a phone-hacking scandal at the now-defunct tabloid that has rattled Britain's establishment, a source close to the case said. Full Story Top Faltering consumer spending to weigh on growth Tue,2 Aug 2011 02:00 PM PDT Reuters - WASHINGTON (Reuters) - Consumer spending dropped in June for the first time in nearly two years and incomes barely rose, signs the economy lacked momentum as the second quarter drew to a close. Full Story Top Automakers warn of fragile demand Tue,2 Aug 2011 03:27 PM PDT Reuters - DETROIT (Reuters) - U.S. auto sales ticked higher in July, but the industry's top salesmen cautioned the prospect for a second-half recovery remained clouded with consumers hurting in a weak economy. Full Story Top

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