Explosions hit U.S. restaurants in Lebanon
BEIRUT, Lebanon, Nov. 12 (UPI) -- Explosions hit three U.S. fast-food restaurants in different parts of Lebanon Tuesday, causing material damage but no injuries, police sources said. The sources said the explosions, which occurred at dawn, targeted two Pizza Huts located in Jounieh, 12 miles north of Beirut; and Tripoli, about 44 miles north of the capital. A third bomb ripped through another U.S.-fast-food restaurant, Winners, in the area of Ghazir near Jounieh. The restaurants and nearby shops were damaged.
Feds step up Detroit Muslims scrutiny
DETROIT, Nov. 12 (UPI) -- Federal investigators have stepped up their surveillance of the Detroit-area Muslim community to try to run down links to al Qaida network in what one Justice Department spokesman called "the largest investigation in the history of the United States." The anti-terrorist effort includes increased undercover infiltration, creation of a network of street informants and increased Internal Revenue Service examination of charities and businesses, Muslim leaders and attorneys said. Ibrahim Hooper of the Council on American-Islamic Relations said the increased scrutiny is unfairly targeted at Muslims and Arabs. Civil liberties advocates accuse authorities of approaching Muslims indiscriminately when they enter the United States, especially people coming from Iran, Iraq, Libya, Sudan, Syria, Pakistan, Saudi Arabia and Yemen.
EU welcomes Cyprus peace plan
BRUSSELS, Nov. 12 (UPI) -- The European Union Tuesday welcomed a U.N.-brokered plan to reunite the Greek and Turkish halves of Cyprus, describing it as the last chance to bring permanent peace to the divided eastern Mediterranean island before it becomes an EU member. U.N. Secretary-General Kofi Annan on Monday sent the leaders of the Greek and Turkish Cypriot communities a proposal he hopes will form the basis for "a comprehensive settlement" of the decades-old problem. Annan said he expected reactions from both sides within the next week and a final solution before a meeting of European leaders in mid-December.
Gates rolls out $400 million investment in India
NEW DELHI, Nov. 12 (UPI) -- Microsoft Corp. Chairman Bill Gates announced Tuesday an investment of $400 million over the next three years, saying it was the largest single sum invested outside the United States. "India is of strategic importance as its developer and skill base continue to grow," Gates said. "Today an increasing number of dot-net projects across the globe are being developed by talented Indian companies; the Indian developer community is creating next generation dot-net applications." Gates said the money would go toward education, partnerships, localization and development of Microsoft products.
Greenspan praises Mexico's econ policies
MEXICO CITY, Nov. 12 (UPI) -- Federal Reserve Chairman Alan Greenspan said Latin American countries such as Mexico that have steadfastly sought to lower inflation, loosen their exchange-rate systems and liberalize trade, have managed to insulate themselves against the region's periodic bouts of crisis and financial contagion. Greenspan made his comments at a conference in Mexico City Tuesday. The top U.S. banker said the recent economic performance of different Latin American countries illustrates "the benefits of putting sound policies in place." Over the last two years, Brazil and Argentina have stumbled, but other economies in the region have continued to grow.
American pilots offer help in hard times
FORT WORTH, Texas, Nov. 12 (UPI) -- The pilots' union at American Airlines is offering to consider "compensation options" and other measures to help the financially troubled airline. American officials recently announced the airline needs to cut $3 billion to $4 billion in annual costs to compete with low-cost carriers. Leaders of the APA, which represents 13,500 American pilots, met with top of officials of American parent AMR in Fort Worth Monday to discuss the money woes facing the nation's largest airline.
Eastman Kodak to cut 1,300 to 1,700 jobs
ROCHESTER, N.Y., Nov. 12 (UPI) -- Photography giant Eastman Kodak Co. said it will trim research and development staff and transfer manufacturing operations in Rochester and Mexico as part of a previously announced plan to cut 2 percent of its work force. The company plans to cut 1,300 to 1,700 jobs, which will contribute to $200 million in annual savings that it outlined in October. Last year, Kodak cut about 7,000 jobs. Kodak said sales of cameras and film have remained soft as consumers travel less and take fewer pictures. The company said it will cut about 150 positions in its U.S.-based research-and-development organizations to keep R&D aligned with changing market conditions.
Stocks rise in active trading
NEW YORK, Nov. 12 (UPI) -- Stock prices on the New York Stock Exchange and the Nasdaq Stock Market were higher in fairly active trading early Tuesday afternoon, lifted by some favorable earnings results and strength in technology issues. The blue-chip Dow Jones industrial average, which lost 178.18 points Monday, was up 141.70 points, or 1.7 percent, to 8,500.65. The tech-heavy Nasdaq composite index, which fell 40.09 points in the previous session, was ahead 37.42 points, or 2.84 percent, to 1,356.61.
