Rupert Murdoch humbled by hearing in hack scandal

Rupert Murdoch was humble Tuesday by a committee of lawmakers who grill one of the world's most powerful media moguls and his son on their position in a phone-hacking scandal that has embroiled a few of Britain's top politicians, police and journalists.

Appearing frail and confused, the elder Murdoch at initial seemed repentant — he banged his hands on the table and said the day was the the majority humble of his life — but he became increasingly flustered at what time committee members peppered with him questions, often turning to his son James for answers.

In a tense question-and-answer session by means of lawmakers, Murdoch, 80, said he was "shocked, appalled and ashamed" at the hack of the phone of a murdered schoolgirl through his now-shuttered News of the World tabloid. He said he have seen no evidence that victims of the Sept. 11, 2001 terror attack and their relatives be targeted by some of his papers.

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Obama 2012 campaign breaks goal, records

The campaign to re-elect President Barack Obama thought on Wednesday it raised $86 million from April to June, exceeding its $60 million quarterly goal and eclipsing Republican White House contenders.

Obama's 2012 campaign said it received donations from additional than 552,000 people, with what it called "more grassroots hold at this point in the process than any campaign in political history."

In keeping with Obama's 2008 winning strategy of tapping little donations, 98 percent of donations in the second quarter were $250 or less, by means of an average donation of around $69, campaign manager Jim Messina thought in a video to supporters.The figures confirm that Obama, a Democrat who raised a record $745 million in cash throughout 2008, has started the 2012 race as the cash leader despite doubts about the U.S. economy and criticism from some fellow Democrats that he has slanted to the right in U.S. debt talks.

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Bernanke: Fed would supply more stimulus if needed

Federal Reserve Chairman Ben Bernanke thought Wednesday that the central bank is prepared to provide additional incentive if the current U.S. economic lull persists.Delivering his twice-a-year economic statement to Congress, Bernanke laid out three options the central bank would consider.

Bernanke said the Fed could launch an additional round of Treasury bond buying, the third such effort since 2009. It could cut the notice paid to banks on the reserves they hold as a way to encourage them to lend more.The Fed could also be extra explicit in spelling out just how long it planned to keep rates at record-low levels. That would give investors assurance about the Fed's efforts to carry on supporting the economy.

Stocks jumped after Bernanke signaled the Fed's willingness to take extra steps to boost the sluggish economy. The Dow Jones industrial regular rose 150 points, or 1.2 percent, in morning trading and broader index gained.

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