The Lookout
  • Financial crisis panel: This was “avoidable”

    Angelides ThomasThe financial crisis was "avoidable"--the product offailures of government regulation, and reckless risk-taking and mismanagement on Wall Street--the congressional panel probing the episode has concluded.

    "The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done," the final report from the Financial Crisis Inquiry Commission concludes. "If we accept this notion, it will happen again."

    The full report -- the result of an exhaustive investigation -- is set to be released tomorrow morning, but several news outlets got an advance look at its conclusions.

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  • AP07051509574Last night, President Obama said American has to "out-innovate" the rest of the world, saying, "The first step in winning the future is encouraging American innovation."

    But the economists Tyler Cowen and Benjamin Jones have both painted a troubling picture of the state of innovation in the country.

    Cowen, in his new book "The Great Stagnation," points to work that shows that 80 percent of America's economic growth from 1950 to 1993 came from the application of ideas that had been invented or discovered before that time, and heavy investment in research and education. "In other words, we've been riding off the past," he writes.

    (The tech entrepreneur and PayPal founder Peter Thiel also theorizes that the pace of technological innovation has been overstated.)

    Mike Gibson at A Thousand Nations blog breaks down some fascinating research by Benjamin Jones at Northwestern University that may explain some of this lag: Innovators are getting old. The average age of Nobel laureates and tech

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  • Obama makes no reference to BP oil disaster in SOTU speech

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    In an address to the nation from the Oval Office seven months ago, President Obama labeled the BP oil disaster the "worst environmental disaster America has ever faced" and promised that the Gulf Coast region's troubles would continue to be a top priority for his administration.

    "The oil spill represents just the latest blow to a place that has already suffered multiple economic disasters and decades of environmental degradation that has led to disappearing wetlands and habitats," Obama said at the time. "And the region still hasn't recovered from Hurricanes Katrina and Rita. That's why we must make a commitment to the Gulf Coast that goes beyond responding to the crisis of the moment. I make that commitment tonight."

    Read More »from Obama makes no reference to BP oil disaster in SOTU speech

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  • US stocks rise in afternoon trade; Visa soars
    US stocks rise in afternoon trade; Visa soars

    NEW YORK (AP) — U.S. stocks turned higher Thursday as MasterCard and other big companies turned in stronger quarterly results. The Dow Jones industrial average climbed more than 200 points, thanks largely to Visa, the Dow's highest-priced stock.

  • Tropical Storm Vance forms in the Pacific

    MIAMI (AP) — Tropical Storm Vance, the 20th named storm of the Pacific season, has formed well off the coast of Mexico.

  • Weight-Loss Superfood: 6 Tips for a Healthy Gut

    It turns out that the bacterial organisms in the digestive tract — about 100 million of them (10 times the number of human cells), collectively called the microbiome — are akin to a fully functioning organ, and can have a positive or negative effect on human health.  National Institutes of Health (NIH) conference entitled "The Human Microbiome: Implications for Nutrition and Clinical Practice," held in March in Bethesda, Md., Cindy Davis of the Office of Dietary Supplements at the National Institutes of Health, shared some of the findings. "The microbiome is influenced by several dietary components," she said. One of which is yogurt. 

  • Hiring business drives LinkedIn's revenue beat

    By Arathy S Nair and Lehar Maan (Reuters) - Corporate networking site LinkedIn Corp reported better-than-expected quarterly profit and revenue as more businesses used its services to hire staff. The company's hiring business has been thriving as employers find its services more helpful in assessing a candidate's suitability for a role. Strong growth in the hiring business and rapid expansion in international markets such as China are considered by analysts to be the main growth drivers for the company in the next few quarters. ...

  • Why Baltimore Is Hesitant to Open a 100-Year-Old Time Capsule
    Why Baltimore Is Hesitant to Open a 100-Year-Old Time Capsule

    A Sealed Capsule Discovered Behind a 1915 Plaque at the Washington Monument

  • Miley & Rihanna Stun With Racy Red Carpet Looks!
    Miley & Rihanna Stun With Racy Red Carpet Looks!

    Miley Cyrus & Rihanna left little to the imagination on Wednesday when they hit the red carpet in very revealing looks.

  • American couple held in Qatar speaks: 'We are being kidnapped'
    American couple held in Qatar speaks: 'We are being kidnapped'

    An American couple feels trapped and abandoned by the U.S. Government as they await a possible death sentence following the death of their daughter in the oil rich country of Qatar. Grace and Matthew Huang were accused of starving their adopted daughter Gloria to death almost two years ago. Since the tragic night of Gloria's passing, the Huangs have been jailed, separated from their other two children. Their lives are in the hands of a foreign government whose judicial process is mysterious and terrifying to them.They decided to share their story exclusively with Yahoo’s Global News Anchor Katie Couric.

  • Ukraine, Moscow clinch deal on Russian gas supply
    Ukraine, Moscow clinch deal on Russian gas supply

    BRUSSELS (AP) — Moscow and Kiev on Thursday clinched a multi-billion dollar deal that will guarantee that Russian gas exports flow into Ukraine and beyond to the European Union throughout the winter despite their intense rivalry over the fighting in eastern Ukraine.

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