The Two-Way
8:49 am
Thu August 11, 2011

China Lowers Speed Of Bullet Trains; Suspend New Rail Projects

A railway employee stands next to a high speed train at Beijing south railway station.
Peter Parks AFP/Getty Images

In reaction to last month's deadly rail crash, China has decided to slow down all of its high-speed trains. Starting Sept. 1, China's fastest trains will run at 185 mph, instead of 215 mph.

The Los Angeles Times reports:

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Opinion
8:31 am
Thu August 11, 2011

The Nation: A Not So Super-Committee

Sen. Patty Murray answers a question during a brief news conference following a visit to the headquarters of Amazon.com Wednesday, Aug. 10, 2011, in Seattle. On Tuesday, Senate Majority Leader Harry Reid named Murray as part of a powerful new committee tasked to find a bipartisan plan to slash the federal budget deficit.
Elaine Thompson AP

Ari Berman is a contributing writer for The Nation magazine and an Investigative Journalism Fellow at The Nation Institute.

On Tuesday Harry Reid announced his picks for the Congressional debt-reduction "super-committee": Senators Max Baucus, John Kerry and Patty Murray.

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Opinion
8:30 am
Thu August 11, 2011

Weekly Standard: Will Liberals Blast Reid's Picks?

Senate Majority Leader Sen. Harry Reid speaks about debt ceiling legislation on Capitol Hill in Washington, on Monday, Aug. 1, 2011. On Tuesday, Reid announced his super-committee picks.
Jacquelyn Martin AP

Daniel Halper is the deputy online editor for The Weekly Standard.

Senate majority leader Harry Reid picked his three representatives to the twelve congressional member supercommittee Tuesday, selecting Max Baucus, John Kerry, and Patty Murray. The first two choices make sense: Baucus is chairman of the Senate Finance Committee, and Kerry was the Democratic nominee for president in 2004 and, as his website describes, "holds senior positions on the Finance, Commerce, and Small Business Committees."

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The Two-Way
7:51 am
Thu August 11, 2011

Markets Off To Another Volatile Start

At opening the markets opened low, then regained their steam on the good news we reported earlier about lower unemployment claims. Then, the stocks headed lower. All of that to say, it looks like it's going to be another dramatic day on Wall Street.

The European markets still dealing with fears about France's credit ratings could give us some indication of the type of up-and-down day we may be in for. Here's Dow Jones Newswires with what happened there:

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The Two-Way
7:34 am
Thu August 11, 2011

Authorities Will Not Charge Gizmodo Over iPhone Prototype Purchase

If you remember the iPhone 4 frenzy back in 2010, then you remember Jason Chen, a writer for Gizmodo. He was the one who bought a prototype of the iPhone 4 that an Apple engineer left at a bar and then Chen published a story about it that revealed the new phone's new specs.

Probably because Apple is known to be so secretive, the story blew up. And a few days later Chen's home was raided by a law enforcement task force called the Rapid Enforcement Allied Computer Team.

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Opinion
7:13 am
Thu August 11, 2011

New Republic: Four Steps To Avoid Global Depression

President Barack Obama, left, shakes hands Commerce Sec. Gary Locke, right, after announcing that Locke will be the next US ambassador to China, in the Diplomatic Room of the White House Wednesday, March, 9, 2011. Locke is replacing Jon Huntsman.
Pablo Martinez Monsivais AP

William Galston is a senior fellow at the Brookings Institution and a contributing editor for The New Republic.

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Opinion
7:12 am
Thu August 11, 2011

Weekly Standard: Shaken (Not Stirred) Money Maker

A bartender mixes cocktails at a stand selling vodka at the Wine and Gourmet Asia show at the Venetian hotel in Macau on November 8, 2007.
Mike Clarke AFP/Getty Images

Victorino Matus is a senior editor at The Weekly Standard.

Unemployment once again has crept past 9 percent. GDP growth fell below 2 percent this last quarter. Inflation is up. Home values are down. There's talk of a double-dip recession. According to one market analyst, "We're on the verge of a great, great depression." But through it all, there is one constant, a commodity that has not only survived during these harsh economic times, but even thrived.

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Opinion
6:57 am
Thu August 11, 2011

Foreign Policy: Britain's Young And Relentless

A jewelry store is damaged in Ealing, west London, Tuesday, Aug. 9, 2011, following unrest overnight. A wave of violence and looting raged across London and spread to three other major British cities Tuesday, as authorities struggled to contain the country's worst unrest since race riots set the capital ablaze in the 1980s.
Jonathan Short AP

Portia Walker is a freelance journalist.

Buildings are charred and shops barricaded closed. Helicopters circle low overhead. London's prison cells are all full. Police are flooding the streets of the capital. For four days now, mobs have run amok in multiple areas across this city, looting, brawling, and terrorizing people.

As a mob stormed through a warm Monday night on a west London street, restaurants locked their doors and diners headed home early.

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The Two-Way
6:45 am
Thu August 11, 2011

New Unemployment Claims Drop To Four-Week Low

The Labor Department released a rare piece of good economic news, today: Its weekly unemployment claims report shows that this past week had saw lowest number of claims in a month.

For the week ending Aug. 6, the number of unemployment claims dropped by 7,000 to 395,000, the lowest number since the week that ended April 2.

Reuters reports:

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The Two-Way
6:10 am
Thu August 11, 2011

In U.K.: Talk Of Banning Masks, Blocking Text Messages

This masked man walked past a burning car in London on Monday (Aug. 8, 2011).
Peter Macdiarmid Getty Images

The wave of violence that swept across cities in Britain over the past week has led to Prime Minister David Cameron saying that:

-- Authorities may block instant messaging services "when we know they are plotting violence, disorder and criminality."

-- The police have been given the power to order protesters to remove facemasks "under any circumstances where there is reasonable suspicion that they are related to criminal activity."

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