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PROVIDENCE, R.I. (AP) — A snowstorm pushed into New England on Tuesday, making for messy travel conditions after causing widespread school and government closures in the nation's capital and elsewhere along the Eastern seaboard.
U.S. Secretary of State John Kerry appealed to skeptical U.S. lawmakers on Tuesday not to impose new sanctions on Tehran while the United States seeks to negotiate a comprehensive agreement with Iran to curb its nuclear program. Republicans and Democrats in the House of Representatives raised questions about a November 24 deal between Iran and six major powers under which Tehran would restrict its nuclear program in exchange for limited relief from U.S. economic sanctions.
RENO, Nev. (AP) — A member of a search team on Tuesday found a couple and four young members of their families who had been missing in the frigid mountains of northern Nevada since Sunday, authorities said.
NEW YORK (AP) — A teenage girl found carrying a dead fetus in a shopping bag at a Manhattan lingerie store is headed toward trial on shoplifting charges.
CAIRO (AP) — The chairman of a panel that wrote Egypt's draft constitution defended the document Tuesday as guaranteeing democracy and freedoms, but he offered cautious criticism of a recent law restricting street protests.
MARSEILLE, France (AP) — A disgraced French businessman was convicted of fraud and sentenced to four years in prison on Tuesday for filling tens of thousands of breast implants with industrial grade silicone. But he left the courthouse freely after lodging an appeal, and thousands of women will have to wait longer to discover if they will receive damages.
By Emily Stephenson and Douwe Miedema WASHINGTON (Reuters) - U.S. banks will no longer be able to make big trading bets with their own money after regulators on Tuesday finalized the Volcker rule and shut down what was a hugely profitable business for Wall Street before the credit crisis. After struggling for more than two years to craft the complex rule, five regulatory agencies signed off on the nearly 900-page reform that included new tough sections narrowing carve-outs for legitimate trades. The rule is expected to eat into revenues at large investment banks such as Goldman Sachs and Morgan Stanley, even if many have already wound down some of their trading desks in anticipation of the rule's release, and may spark legal challenges. That's going to be a really important document," said Bradley Sabel, a lawyer at Shearman and Sterling in New York.
BANGUI, Central African Republic (AP) — More than 500 people have been killed over the past week in sectarian fighting in Central African Republic, aid officials said Tuesday, as France reported that gunmen fatally shot two of its soldiers who were part of the intervention to disarm thousands of rebels accused of attacking civilians.
By Jonathan Stempel NEW YORK (Reuters) - A Chinese man accused of trying to export high-grade carbon fiber to his home country from the United States for use in military aircraft was sentenced on Tuesday to nearly five years in prison, federal prosecutors in New York said. Ming Suan Zhang, 42, pleaded guilty on August 19 to one count of violating the International Emergency Economic Powers Act for trying to export aerospace-grade carbon fiber, a controlled commodity, without a license. U.S. District Judge Nicholas Garaufis in Brooklyn sentenced Zhang to 57 months in prison, the top end of the 46- to 57-month range recommended under federal guidelines. The carbon fiber composite that Zhang sought is regulated by the U.S. Department of Commerce, and can be used to make ballistic missiles and nuclear centrifuges.
The East Coast's first significant snowfall of the season was expected to dump up to 8 inches on northern Virginia, Maryland, Pennsylvania, Delaware and into southern New England, Brian Korty, meteorologist with the National Weather Service (NWS), said in a forecast. By midday the storm had blown through Washington, D.C., where federal government offices were shut for the day, the Office of Personnel Management said. In neighboring Delaware, Governor Jack Markell announced state offices were shut and urged residents to stay off dangerously slick roads. Snowflakes falling on Times Square in New York City thrilled tourists, including Janet Major, 57, visiting from England.
By Rodrigo Campos NEW YORK (Reuters) - Stocks slipped on Tuesday, a day after a record close on the S&P 500, with traders looking ahead to next week's Federal Reserve meeting in the absence of market-sensitive economic data. Blue-chips Procter & Gamble and Coca Cola were among the top decliners on the S&P 500, down slightly more than 1 percent each and weighing on the S&P consumer staples index . But stronger economic data of late, including a drop in the unemployment rate to a five-year low, helped ease investors' angst over a pullback in the Fed's stimulus. The Fed's policy-setting Federal Open Market Committee meets Tuesday and Wednesday of next week.
By Margaret Chadbourn WASHINGTON (Reuters) - Democratic Representative Mel Watt's nomination to lead the agency that regulates taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac looked set for final approval on Tuesday after clearing a hurdle in the U.S. Senate. President Barack Obama nominated Watt in May to head the Federal Housing Finance Agency, but Republicans worried he would be too beholden to the White House and blocked a final vote when Democrats brought it up in October. "Watt's confirmation will provide the housing market more certainty as our economy continues to recover from the financial crisis," Senator Tim Johnson, the Democratic chairman of the Senate Banking Committee, said in a statement.
JOHANNESBURG (AP) — President Barack Obama shook hands with Cuban President Raul Castro Tuesday at a memorial service for Nelson Mandela, a simple gesture that signaled possible thawing between the leaders of two Cold War foes.