Citigroup: 4 Bailout Questions - The Ticker (usnews.com)

Citigroup: 4 Bailout Questions - The Ticker (usnews.com): "The government's decision to prop up Citigroup opens a new chapter in the ongoing financial crisis. This latest rescue, larger by far than the bailouts of Bear Stearns or American International Group, sets the newest precedent for how far the government will go in its continuing efforts to keep the financial sector afloat.

The basics:
Citi is on the hook for the first $29 billion in losses. After that, the dominos fall like this: The Treasury will be responsible for 90 percent of the next $5 billion in losses. Then, the FDIC will handle 90 percent of the next $10 billion. Lastly, the Fed takes 90 percent of losses beyond that."

Google's iPhone app gets a voice: Yours | Webware - CNET

Google's iPhone app gets a voice: Yours | Webware - CNET: "Google on Friday is expected to release version two of its mobile search application for the iPhone. The new version works much like the old one, letting users query Google outside of the mobile Safari Web browser, as well as search through contacts and narrow down results by their current location. The big change is the addition of search-by-voice, which lets you skip the keyboard entirely."

Cray XT Jaguar Supercomputer Surpasses IBM Roadrunner -- Supercomputers -- InformationWeek

Cray XT Jaguar Supercomputer Surpasses IBM Roadrunner -- Supercomputers -- InformationWeek: "The Department of Energy's Oak Ridge, Tenn., National Laboratory has boosted the computing power of its Cray XT Jaguar supercomputer to more than a quadrillion mathematical calculations per second, surpassing the IBM (NYSE: IBM) Roadrunner, which topped the list of the world's 500 fastest computers in June."

Circuit City files for bankruptcy protection - BusinessWeek

Circuit City files for bankruptcy protection - BusinessWeek: "Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches"

What Crisis? Some Hedge Funds Gain - NYTimes.com

What Crisis? Some Hedge Funds Gain - NYTimes.com: "While most hedge funds are sinking into red this year and unsettling the markets in the process, a handful of them are posting spectacular gains. Mr. Drury’s fund, for instance, is up 60 percent since Jan. 1."

Apple edges out RIM to take No. 2 spot in smart phones

Apple edges out RIM to take No. 2 spot in smart phones: "Apple Inc.'s iPhone 3G passed Research In Motion Ltd.'s BlackBerry to take second place in third-quarter global smart-phone rankings, according to a report by market researcher Canalys.com."

As Ukraine Staggers, Its Leaders Quarrel - NYTimes.com

As Ukraine Staggers, Its Leaders Quarrel - NYTimes.com: "“Yushchenko thinks he is God,” said Mikhail Pogrebinsky, a political analyst at a research and polling center in Kiev, pointing to Mr. Yushchenko’s visit last week to Istanbul, where he gave Patriarch Bartholomew I of the Eastern Orthodox Church a specially minted coin with his image on it, while at home his country’s currency plummeted.

Ms. Tymoshenko is also capable of political magic tricks. Last year she colluded with Mr. Yushchenko, withdrawing all her deputies from Parliament to give him legal justification for dissolving it and calling new elections."