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  • In the past two weeks, customers of top U.S. banks including Bank of America Corp, JPMorgan Chase& Co, Wells Fargo& Co, U.S. Bancorp and PNC Financial Services have reported having trouble accessing their websites, as unusually high traffic volumes appeared to crash or slow down the systems.

  • Global economic growth has slowed this year, curbing fuel demand growth in Asia, Europe and the United States. The euro strengthened against the dollar a second straight session on growing expectations the euro zone's fourth-largest economy, Spain, will seek a bailout.

  • News Summary: Iran president deflects criticism Tuesday, 2 Oct 2012 | 2:30 PM ET

    UNDER PRESSURE: Iran President Mahmoud Ahmadinejad blamed the steep drop in Iran's currency on "psychological pressures" linked to Western sanctions over Tehran's nuclear program and Iran's increasingly bitter political battles.

  • WHY IT MATTERS: Defense spending Tuesday, 2 Oct 2012 | 1:26 PM ET

    In the aftermath of the 9/ 11 terrorist attacks the money spigot was turned wide open, pouring hundreds of billions of dollars into the wars in Iraq and Afghanistan and expanding the armed forces. He reasons that a new era of austerity at the Pentagon won't hurt American security.

  • Iran president: `Psychological' blows hit currency Tuesday, 2 Oct 2012 | 11:20 AM ET

    TEHRAN, Iran-- Iran's president on Tuesday blamed the steep drop in Iran's currency on "psychological pressures" linked to Western sanctions over Tehran's nuclear program and Iran's increasing bitter political battles.

  • Iranian leader: `Psychological' blows hit currency Tuesday, 2 Oct 2012 | 9:47 AM ET

    TEHRAN, Iran-- President Mahmoud Ahmadinejad blamed the steep drop in Iran's currency Tuesday to "psychological pressures" linked to Western sanctions over Tehran's nuclear program. The U.S. and its allies have imposed the punishing measures to try to persuade Iran to negotiate over its nuclear program, which the West says is aimed at developing atomic weapons.

  • By Christopher Johnson and Alice Baghdjian. LONDON, Oct 2- Brent crude oil consolidated around $112 a barrel on Tuesday as investors weighed a weaker outlook for fuel demand and sluggish economic growth against the risk of possible supply disruptions.

  • GENEVA, Oct 2- The United Nations human rights office called on Tuesday for the immediate release of prominent activists and journalists it said had been arrested or intimidated as part of an apparent clampdown on critical voices ahead of next year's presidential election.

  • Iraq signs deal to modernize major port in Basra Tuesday, 2 Oct 2012 | 9:24 AM ET

    BAGHDAD-- Iraq on Tuesday signed a $14 million deal with a U.S. consortium to modernize a major port in the country's southern province of Basra in a move aimed at developing key infrastructure neglected during years of war and sanctions.

  • DUBAI, Oct 2- Iran has been able to cope with Western economic sanctions and the central bank has supplied enough hard currency to finance imports even though the sanctions have cut Tehran's oil earnings, President Mahmoud Ahmadinejad said on Tuesday.

  • Iran lawmakers seek answers over currency drop Tuesday, 2 Oct 2012 | 8:45 AM ET

    TEHRAN, Iran-- Iranian lawmakers have signed a petition to summon President Mahmoud Ahmadinejad to parliament for questioning over the rapid drop in the value of the country's currency. Iran's currency fell again Tuesday, hitting a record low of 34,500 rials against the U.S. dollar. It was 29,500 rials to the dollar Sunday.

  • Iran has been able to finance imports -Ahmadinejad Tuesday, 2 Oct 2012 | 8:35 AM ET

    DUBAI, Oct 2- President Mahmoud Ahmadinejad said on Tuesday that Iran's central bank had provided enough hard currency to finance imports into the country, despite Western economic sanctions designed to cut its oil earnings.

  • By Christopher Johnson and Alice Baghdjian. LONDON, Oct 2- Brent crude oil slipped to around $112 a barrel on Tuesday as investors weighed a weaker outlook for fuel demand and sluggish economic growth against the risk of possible supply disruptions.

  • Israeli budget rifts could lead to early polls Tuesday, 2 Oct 2012 | 7:18 AM ET

    JERUSALEM-- Israel's prime minister held the prospect of early elections over the heads of his coalition partners Tuesday, opening a drive to get his budget approved, a campaign that could have foreign policy implications.

  • Aussie Slips, Euro Steadies, Rial Keeps Falling Tuesday, 2 Oct 2012 | 6:59 AM ET
    fx_fix_1_200.jpg

    Australia cuts rates and kiwis look sweet — it's time for your FX Fix.

  • LONDON, Oct 2- Brent crude oil slipped to around $112 a barrel on Tuesday as investors weighed a weaker outlook for fuel demand and sluggish economic growth against the risk of possible supply disruptions.

  • *Fed's Bernanke says U.S. growth too slow* Coming up: API weekly oil stocks; 2030 GMT By Luke Pachymuthu and Manolo Serapio Jr. SINGAPORE, Oct 2- Brent crude futures steadied near $112 a barrel on Tuesday as investors weighed a weaker outlook for demand due to a sluggish global economy against potential supply disruptions.

  • Global economic activity has slowed this year, curbing fuel demand growth in Asia, Europe and the United States. The euro supported oil prices, rising for a second straight session on growing expectations the euro zone's fourth-largest economy, Spain, will seek a bailout.

  • By Luke Pachymuthu and Manolo Serapio Jr. SINGAPORE, Oct 2- Brent crude futures steadied near $112 a barrel on Tuesday as investors weighed a weaker demand outlook amid a sluggish global economy against the continuing potential for supply risks.

  • US oil sale helps SPR to fight cavern shrinkage Tuesday, 2 Oct 2012 | 12:25 AM ET

    WASHINGTON, Oct 2- Last year's sale from U.S. emergency crude oil reserves has helped battle shrinking capacity or "creep" at the 62 salt caverns in Texas and Louisiana that form the Strategic Petroleum Reserve, the Energy Department's inspector general said on Tuesday.