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U.S. likely to lose top rating: economists

The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.

Debt crisis gives investors first jolt

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over the government's debt limit as investors braced for a looming default and downgrade.

Lochte usurps Phelps to win 200 freestyle gold

American Ryan Lochte received a massive confidence boost ahead of next year's London Games when he swum down compatriot and Olympic champion Michael Phelps to claim the men's 200 meters freestyle world championships title on Tuesday.

Turkish club trying to lure Bryant during lockout

Los Angeles Lakers All-Star guard Kobe Bryant's representatives will meet with officials of Turkish club Besiktas next week to discuss the possibility of him playing in Turkey during the National Basketball Association (NBA) lockout.

Supervalu profit tops Street view, shares jump

Supervalu Inc's (SVU.N) quarterly profit topped Wall Streets expectations despite sagging sales as the third-biggest U.S. supermarket chain trimmed expenses in a drive to catch up to rivals.

Analysis: The Politics Behind Boehner's Two-step Debt Hike

So many Americans are so sick of political acrimony over raising the U.S. debt limit that it might seem unfathomable to have to do it all over again early next year. But that is exactly what the top U.S. Republican, John Boehner, is proposing for some practical political reasons.

Two suspended for "unspeakable behavior"

French team mates Mehdi Baala and Mahiedine Mekhissi-Benabbad have been provisionally suspended after trading blows in an extraordinary incident after the 1,500 meters at the Monaco Diamond League.

Mystery prisoner has authorities stumped

A mystery man arrested on minor charges more than three weeks ago remains behind bars in Utah while law enforcement officials try to determine his true identity, which he refuses to reveal.

Norway killer praises Japan as model country: report

The confessed killer of 76 people in Friday's bomb and gun attacks in Norway described Japan as a model country in a document he distributed on the Internet, praising it for shying away from multiculturalism, Kyodo news agency reported.

Guns from U.S. sting at Mexican crime scenes: report

At least 122 firearms from a botched U.S. undercover operation have been found at crime scenes in Mexico or intercepted en route to drug cartels there, according to a Republican congressional report being issued on Tuesday.

Soros to return outsiders' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself and his family as new regulations threaten to crimp the hedge fund industry he made famous.

Netflix shares down after subscriber outlook

Netflix Inc, the top video rental company, reported second-quarter revenue that fell short of expectations and cautioned that subscriber growth would slow in the third quarter, sending shares down about 9 percent.

At least 100,000 join Oslo march in grief and unity

At least 100,000 people rallied in Oslo and tens of thousands more marched in cities across Norway on Monday in a nationwide expression of grief and unity over the massacre of 76 people by Anders Behring Breivik.

Obama: Spending cuts alone not answer on deficit

President Barack Obama, taking a combative tone in a standoff with congressional Republicans over the U.S. debt, said the country cannot deal with its budget problems through spending cuts alone.

U.S. airlines raise fares to scoop up tax lapse

Many U.S. airlines raised fares in recent days to take advantage of a drop-off in U.S. ticket tax collection after Congress failed last week to fully fund the Federal Aviation Administration budget, but passengers will likely not notice any price difference.

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